criston
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Post by criston on Aug 20, 2020 11:53:10 GMT
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iRobot
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Post by iRobot on Aug 20, 2020 12:10:46 GMT
I've not lost money, so far.
One very lengthy case ongoing and now into 4th year. Borrower being an utter arse. BC following the law to the letter. Courts demanding leniency on repossession orders which is frustrating things at present. Even plain ol' residential bridging loans can be problematic.
As BC are unable to gain access to the property, they unable to assess condition and therefore determine likely outcome.
Not too worried, have confidence BC will reach the best possible outcome given the circumstances and even if there is a capital loss, it would be the first one out of hundreds.
Losses on a platform are never a question of 'if', just 'when' and should be anticipated and, so long as it's not ultimately down to any nonfeasance on the part of the platform, acknowledged as part of the risk.
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Greenwood2
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Post by Greenwood2 on Aug 20, 2020 12:55:28 GMT
Likewise not lost anything (yet) and a few that were protracted paid back in full with full interest eventually. A couple currently with extremely difficult borrowers but BC don't give up and are following every possible legal angle to get repayment.
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Steerpike
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Post by Steerpike on Aug 20, 2020 13:47:04 GMT
I started with BC 4 years ago, most loans are for 12 months, and every loan that has redeemed has repaid all capital and interest.
Currently, 30% of my loans are overdue, most of them look OK, however, one was defaulted over 3 years ago, will almost certainly spoil the unblemished record, but probably will return at least most of the capital.
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criston
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Post by criston on Aug 20, 2020 14:02:36 GMT
I had one loan that appeared difficult to attain full recovery.
In fact it did pay out in full, but without any idea of the eventual figures.
One has to wonder, if there is a loss, that Bridgecrowd cover it, to keep their 100% record; and why not.
Maybe it's the reason Bridgecrowd do not publish up-date figures for '4thway' to scrutinise.
Bridgecrowd do respond here sometimes, so if they do not, we know the answer.
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michaelc
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Post by michaelc on Aug 20, 2020 18:42:59 GMT
I've had an unbroken record of all loans paying back and I'm nearly out with 100% capital and interest. Out because I want to see how things will play out over the next year or so re economic issues relating to covid and brexit.
It would be interesting to know how the loan book has changed over the past few years. e.g. The proportion of live loans that are currently more than a month late. How has that figure changed over time?
These things are either hidden or require a lot of effort. One thing the FCA could do (if it did anything) is produce a mandatory set of stats that each p2p lender was required to publish. (And ensure "p2p" bridging loans came under its remit). Its the wild west right now and I'm not convinced 9% or 10% is enough to offset the risk (generally speaking not just BC).
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Greenwood2
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Post by Greenwood2 on Aug 20, 2020 19:38:50 GMT
I've had an unbroken record of all loans paying back and I'm nearly out with 100% capital and interest. Out because I want to see how things will play out over the next year or so re economic issues relating to covid and brexit. It would be interesting to know how the loan book has changed over the past few years. e.g. The proportion of live loans that are currently more than a month late. How has that figure changed over time? These things are either hidden or require a lot of effort. One thing the FCA could do (if it did anything) is produce a mandatory set of stats that each p2p lender was required to publish. (And ensure "p2p" bridging loans came under its remit). Its the wild west right now and I'm not convinced 9% or 10% is enough to offset the risk (generally speaking not just BC). BC is not P2P. But to me that doesn't seem to be a bad thing.
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Post by Ace on Oct 9, 2020 16:34:06 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence.
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KoR_Wraith
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Post by KoR_Wraith on Oct 9, 2020 16:42:02 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence. I don't know but I've had a couple of loans default with BC and have received 100% of capital and interest owed. I find their valuations quite down to earth and their small commentary on each loan to be well informed. They take no prisoners when it comes to borrower leniency, none of the nonsense that FS and Lendy got away with, I suspect because they are confident in the values of their securities. They mostly lend on established residential property so generally there's no 'development value' risk. Note that they are not technically P2P, you lend to Bridgecrowd and they lend to the borrower on your behalf - more detailed explanation in their FAQs. They've been my go-to platform for almost 2 years now.
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michaelc
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Post by michaelc on Oct 13, 2020 18:43:19 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence. I don't know but I've had a couple of loans default with BC and have received 100% of capital and interest owed....... I've had loads default and all repaid - just one left now. That doesn't mitigate the need to provide uptodate stats. Why don't they? Because they don't have to and the FCA doesn't seem to care.
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mah
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Post by mah on Oct 20, 2020 17:10:22 GMT
I've had some troubled ones, which ultimately paid in full incl interest. 2 remaining - 1 long term issue, the other has some hopes.
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Post by scepticalinvestor on Oct 20, 2020 18:11:39 GMT
Had a look, compared to the other p2p outfits dabbling in this field, BC seem quite conservative. Which currently is a good thing in my book.
I couldn't find this on the website, what's the minimum you can invest in one loan?
Thanks.
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criston
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Post by criston on Oct 20, 2020 18:16:54 GMT
Had a look, compared to the other p2p outfits dabbling in this field, BC seem quite conservative. Which currently is a good thing in my book. I couldn't find this on the website, what's the minimum you can invest in one loan? Thanks. £5000
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Post by overthehill on Aug 11, 2021 20:51:57 GMT
Are all those loans with status ENDED in the LIVE tab either late or in default ? Really...
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michaelc
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Post by michaelc on Aug 12, 2021 10:23:40 GMT
Are all those loans with status ENDED in the LIVE tab either late or in default ? Really... Yes I think so.
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