p2pfan
Member of DD Central
Full-Time Investor
Posts: 729
Likes: 812
|
Post by p2pfan on Jul 28, 2019 1:17:03 GMT
There seem to be quite a few disgruntled investors on Trustpilot complaining they haven't received their interest at all or have ended up with miniscule percentages net.
On the other hand, the interest rates seem to be fairly good (9%+) for usually first charge loans.
Just wondering how people's investments have done with THC?
Thanks.
|
|
benaj
Member of DD Central
Posts: 4,829
Likes: 1,586
|
Post by benaj on Jul 28, 2019 8:19:01 GMT
|
|
rrrupert
Member of DD Central
Posts: 121
Likes: 99
|
Post by rrrupert on Aug 2, 2019 18:53:06 GMT
I had £17k invested in 2017 over 10 different loans.
3 have paid in full with interest. 3 have returned capital but are still awaiting interest. 1 is still running. 3 have defaulted.
For the 3 with outstanding interest this is an expected feature of the way THC deal with tranche repayments on dev loans. As properties are sold they seem to pay capital back first to the earlier tranches. Then capital back to the later tranches. Then once that is done the interest is paid in tranche order. In theory I earn interest on my outstanding interest. I am not concerned about these and currently expect to be paid in full once the last properties are sold
For the 3 defaults, two have been seized by the receiver and in process of being sold. The valuations look solid and I expect capital and some interest back. One is still being stalled in the courts by the borrower while he tries to refinance. I should get capital back eventually. But I can imagine legal bills will be eating into my interest on this one.
|
|
corto
Member of DD Central
one-syllabistic
Posts: 850
Likes: 356
|
Post by corto on Jan 20, 2020 16:53:02 GMT
With THC since 5/18 with 5k max mid 2019. I am only in THC for diversification and not in the auto-lend products.
7 loans so far; 5 repaid fully; 1 running; 1 late (by a month, not yet concerning)
Investments are doing ok-ish; Performance cannot be immediately compared with other platforms because repayments are only after loans have finished and as rrrupert wrote are possibly delayed until all tranches have finished. Total returns therefore show at around 5% for me at the moment; the nominal interest would suggest 8-9%. There was (and I believe still is) also some drag when filling loans, which, given average loan duration of a year, impact on returns. Loan flow looks better now than a year ago. Returns usually depend on amount invested. I still would not expect what is officially announced, 7%+ perhaps for me.
Minimum investment is usually 1k which is quite high for me as I only put a few k£ max into any p2p platform. The minimum per loan may differ in the auto-invest products but I have not yet checked how they diversify in these accounts.
Loan run times are usually "estimated"; I wonder how they determine when a loan goes into default (and whether this is consistent with FCA rules)
They sometimes get bad reports on blogs (see Kim's) and I have seen them fighting those online.
|
|
rrrupert
Member of DD Central
Posts: 121
Likes: 99
|
Post by rrrupert on Aug 17, 2020 16:22:39 GMT
I had £17k invested in 2017 over 10 different loans. 3 have paid in full with interest. 3 have returned capital but are still awaiting interest. 1 is still running. 3 have defaulted. For the 3 with outstanding interest this is an expected feature of the way THC deal with tranche repayments on dev loans. As properties are sold they seem to pay capital back first to the earlier tranches. Then capital back to the later tranches. Then once that is done the interest is paid in tranche order. In theory I earn interest on my outstanding interest. I am not concerned about these and currently expect to be paid in full once the last properties are sold For the 3 defaults, two have been seized by the receiver and in process of being sold. The valuations look solid and I expect capital and some interest back. One is still being stalled in the courts by the borrower while he tries to refinance. I should get capital back eventually. But I can imagine legal bills will be eating into my interest on this one. I thought I would reply to my own post. Now just over one year later. Progress has been unbelievably slow on all fronts. The 3 loans that returned capital and are still awaiting interest are still awaiting interest. One at least will have a substantial shortfall on the interest due. The loan still running is still running. Very slowly. The 3 defaults - one paid back capital in full plus a very reduced amount on interest. One has repaid around 50% of the capital and probably that is all I will see. Certainly no interest on that one and a close to 50% capital loss. The third default is still messing about what with forbearance and evictions being stalled with Covid although the valuation looks reasonable at least on that property. The one with a big capital loss ended up fetching around 22% of the original valuation!
|
|
corto
Member of DD Central
one-syllabistic
Posts: 850
Likes: 356
|
Post by corto on Sept 27, 2020 12:07:23 GMT
If you have not attended the recent seminars and not watched the recordings, it makes sense to do so. A good amount of information about progress and a little about plans. There was probably some influential interaction between FCA and THC; to the better. Reduced interest expected on various loans, some still at 100%, an probably no capital losses (on the ones I watched).
[The recordings are all a bit long; you can speed them up in the setting of the player]
|
|