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Post by gravitykillz on Mar 27, 2020 19:10:47 GMT
Hi I am aware loanpad are doing well and so far seem unaffected by this crisis.
What other platforms seem to be weathering this storm so far ? (Touch wood)
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iRobot
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Post by iRobot on Mar 27, 2020 19:22:03 GMT
Hi I am aware loanpad are doing well and so far seem unaffected by this crisis. What other platforms seem to be weathering this storm so far ? (Touch wood) Bridgecrowd (Touch wood  ) Launched two loans this afternoon - admittedly not whoppers: £360k total - but filled in 2h(ish) based on timings of the emails, so may have been quite a bit less than that. (Remember though £5k minimums, so maximum of 72 lenders.) Also four loans redeemed this week.
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rocky1
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Post by rocky1 on Mar 27, 2020 19:22:59 GMT
well crowdproperty seem to be going full steam ahead at the moment with another 7/8 loans/tranches coming within the next month.starting to get a bit of a build up with loans waiting for refinancing/repayment though and a few now paying default interest of an extra 2% until repayment.
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Post by df on Mar 27, 2020 20:34:01 GMT
I didn't notice any changes in Unbolted. Repayments and new loans are coming in every day as normal.
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Post by Badly Drawn Stickman on Mar 27, 2020 20:51:18 GMT
I didn't notice any changes in Unbolted. Repayments and new loans are coming in every day as normal. I suppose the only concern with them would be auctions of unredeemed goods in the short term, I'm guessing they are a no no just now. Otherwise probably a boom time with people having cash flow problems.
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Post by df on Mar 27, 2020 21:16:35 GMT
I didn't notice any changes in Unbolted. Repayments and new loans are coming in every day as normal. I suppose the only concern with them would be auctions of unredeemed goods in the short term, I'm guessing they are a no no just now. Otherwise probably a boom time with people having cash flow problems. Yes, I thought of the auctions. I'm guessing they will be revamped into on-line (remote bidding) version. Everything is now going that way...
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Post by Badly Drawn Stickman on Mar 27, 2020 21:41:29 GMT
I suppose the only concern with them would be auctions of unredeemed goods in the short term, I'm guessing they are a no no just now. Otherwise probably a boom time with people having cash flow problems. Yes, I thought of the auctions. I'm guessing they will be revamped into on-line (remote bidding) version. Everything is now going that way... True, I could counter with there may be less than the usual number of active buyers. However I suspect neither of us feel it would be a problem one way or another, even if it maybe took a bit longer than currently.
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Post by df on Mar 27, 2020 22:31:28 GMT
Yes, I thought of the auctions. I'm guessing they will be revamped into on-line (remote bidding) version. Everything is now going that way... True, I could counter with there may be less than the usual number of active buyers. However I suspect neither of us feel it would be a problem one way or another, even if it maybe took a bit longer than currently. I would imagine that bling market won't be affected as much. The usual buyers will probably keep buying, historically these things don't seem to depreciate.
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Post by Badly Drawn Stickman on Mar 27, 2020 22:56:59 GMT
True, I could counter with there may be less than the usual number of active buyers. However I suspect neither of us feel it would be a problem one way or another, even if it maybe took a bit longer than currently. I would imagine that bling market won't be affected as much. The usual buyers will probably keep buying, historically these things don't seem to depreciate. Certainly in theory. I have only been investing in the Gold loans for a good while now. I also reduced exposure so only just under half of my investment is 'real money'. It would all have to go very very wrong for me not to walk away even with them. (Do obviously have some of the contested loans, but oddly that doesn't even register on my list of concerns).
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Post by Harland Kearney on Mar 28, 2020 13:50:35 GMT
It is interesting that some smaller platforms like this have seen less of a "run". Maybe the retail investors on these smaller platforms are more acutely aware of what they are investing in. Can't see many non-informed investors making accounts on very small sites. More like retail investors who are just looking for a *savings place* to hold money above cash savings flock to AC, RS, Zopa. The AC board right now is sadly full of people who don't understand the Goverment regulatory guidelines of *10% or less of total investment portfilio* *High Risk illquid asset types*. Let alone AC quiz that perfectly throws this stuff at you, but no ITS NOT QUICK ACCESS ANYMORE PANIC!  RS is seeing what only looks to be similar number of withdrawers, although RS are focusing more primairly on investor withdrawals. However the loan books are very very diffrent, AC has alot of tranche loans it is committed by legal frameworks to fulfill and is preventing AC from allowing more withdrawals more timely. (1-5 year loan investments, no surprise.) |
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r00lish67
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Post by r00lish67 on Mar 28, 2020 13:59:57 GMT
It is interesting that some smaller platforms like this have seen less of a "run". Maybe the retail investors on these smaller platforms are more acutely aware of what they are investing in. Lending Crowd is the one for me that springs to mind in this regard, very little discussion of them so far on here. There is of course far more on the secondary market than previously, but the automated accounts were always a variable return product, and the manual investors have what they had before albeit with much less chance to sell. So I think few people have had cause to fuss. The SM is as opaque as it ever was, but I have had a few SM sales through, and repayments are by and large still being made. They have launched a few new loans in the last week or two. Best we can hope for really in the circumstances. Not trying to claim it's all roses though. Many SME's are going to be impacted, but at least the platform's operations aren't pinned on an ever-steady flow of cheap 'blind' cash.
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Post by Harland Kearney on Mar 28, 2020 14:16:21 GMT
Certainly, only time will tell. Nobody knows how long these "measures" will last. But being optimistic would be foolish right now. Everybodies circumstances are diffrent, which is why a persons portfilio should reflect that level of risk. But don't blame entire platforms because you took on too much risk. Thats all I've been seeing in AC threads recently, and I know other readers and posters share my somewhat annoyed frustration of seeing the same posts over and over again. Bit too much off topic, yeh I don't really invest in the smaller platforms, as my main concern in P2P is always platform and regulatory risk from her great FCA  |
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Post by df on Mar 28, 2020 16:13:33 GMT
It is interesting that some smaller platforms like this have seen less of a "run". Maybe the retail investors on these smaller platforms are more acutely aware of what they are investing in. Lending Crowd is the one for me that springs to mind in this regard, very little discussion of them so far on here. There is of course far more on the secondary market than previously, but the automated accounts were always a variable return product, and the manual investors have what they had before albeit with much less chance to sell. So I think few people have had cause to fuss. The SM is as opaque as it ever was, but I have had a few SM sales through, and repayments are by and large still being made. They have launched a few new loans in the last week or two. Best we can hope for really in the circumstances. Not trying to claim it's all roses though. Many SME's are going to be impacted, but at least the platform's operations aren't pinned on an ever-steady flow of cheap 'blind' cash. I think they launched only 2 loans in the last two weeks. They didn't fly off the shelf (i.e. not as many bids as usual). However I've noticed an increased amount of early full and partial repayments this month. Yesterday I had 19 regular repayments, similar amount day before and so on. A couple of days ago 9 (out of 353 that I'm in) businesses announced that they will have to pause their repayments. I didn't attempt to sell any loans, but my exposure to LC has naturally reduced by about 7%. I'm not panicking about LC. Some loans will default, but it is a well run platform, so hopefully things will pick up at some point in future.
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jaswells
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Post by jaswells on Mar 29, 2020 0:34:40 GMT
Hi I am aware loanpad are doing well and so far seem unaffected by this crisis. What other platforms seem to be weathering this storm so far ? (Touch wood) Some would argue not technically p2p but Wisealpha is thriving under these strained financial times. Secondary market is very active and plans to increase product range in near future. It is easy to see why when your options are: 1) Lend to unsecured, unknown borrowers with likely poor credit ratings with provision funds for 3-4%- aka Zopa, Ratesetter etc 2) Lend to small developers or businesses with some degree of security but high risk in nature, - aka AC, FC etc for 4-8% 3) Lend to HSBC, BUPA, BARCLAYS, LLOYDS, M and S, Daily Mail etc for 4-5% Assuming platform risks are similar, surely this is a no-brainer?
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Post by nooneere on Mar 29, 2020 18:40:58 GMT
Hi I am aware loanpad are doing well and so far seem unaffected by this crisis. What other platforms seem to be weathering this storm so far ? (Touch wood) This thread is an excellent idea gravitykillz - platforms that survive this are going to earn a lot of investor faith. This comment doesn't answer your question, but I couldn't help drawing attention to this platform p2pindependentforum.com/thread/16670/elfin-market which only launched last September. What a baptism of fire for a platform focused on flexible short-term consumer loans. The founding team look very professional and experienced but ... they will need to be. Loans are going out well enough on their website, but will they get them back? I'll certainly be an investor if Elvin Market www.elfinmarket.com/ are still here in the autumn.
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