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Post by shanghaiscouse on Dec 29, 2020 23:25:59 GMT
Well, to show what an unpredictable investment FC was, in the last 12 months my projected returns started at 2.6%, troughed at 1.2% by July following 9k of defaults, then by year end back up to 2.1% as recoveries of £6k were made last quarter of year. With 40k of defaults remaining I have absolutely no idea where I will finally end up. All I know is I log on every couple of days and withdraw everything I can! Could be a long, long time until all recoveries have been exhausted. Not sure I will still have energy to be checking.
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Post by longjohn on Dec 30, 2020 14:08:07 GMT
I log on every three months to withdraw my recoveries. Over my 3 accounts I withdrew a total of £2.98. The lowest ever. Having said that, there are probably covid repayment holidays in place. Not that FC will let you know, of course.
I will continue until FC tells me they've given up chasing bad debts.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Dec 30, 2020 17:24:57 GMT
I've been in wind down mode since mid-September 2017, when FC finally introduced changes that I found unacceptable, since when I've not added funds nor reinvested any of my repayments.
My total earnings at that point stood at 42.2% above capital investment made in 2012.
Progress since then (on an annual snapshot of total earnings above capital basis) has been as follows:
September 2018 - 43.1%
September 2019 - 42.6%
September 2020 - 44.5%
and currently stand at 45.4% (includes recent recovery on the 'short-term' London property loan)
Recoveries make up a portion of earnings but I have not calculated those separately.
Maybe it's all about the timing, along with other skills, etc. (remember when we investors had a reasonable amount of control?) but I still consider FC to have been a very good investment.
Going through a similar process at RS now, which I started back at the end of May this year, having invested the same amount there at around the same time.
Zopa was my very first foray into p2p, in 2007. Similar result there but on a much smaller scale (also been 'out' since 2017).
Apologies for going on a bit, got carried away!
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dorset
Member of DD Central
Posts: 281 
Likes: 187
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Post by dorset on Dec 31, 2020 9:22:00 GMT
I’ve made about 10% in 2020 on currently 249 running down pre 9/2017 loans.
Almost all of this is from the steady stream of recoveries which now stand at 37.3%.
Not as good as it sounds as 79 of these loans are late.
Only reason I have “apparently” made money in 2020 is FCs reluctance to default the late loans.
However, since 2011 I have made a total return of about 50% on capital even if the rump of my loans now default. Been a great investment and thanks for the ride FC!
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,870
Likes: 2,308
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Post by keitha on Dec 31, 2020 10:47:02 GMT
So for me £1016 defaults, £269 recoveries, net £70 interest !
I was thinking I was doing quite well with a net income of £340 over the year ( 3%) , but hadn't realised how much of that was recoveries until I looked at the figures.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 1, 2021 15:44:29 GMT
Performance from 31stMar2018 to current. | DEPOSITS | 100.00% | | WITHDRAWALS | 101.60% | | AVAILABLE FUNDS | 0.00% | | CASH “BANKED” | 101.60% | | NET EARNINGS | 2.01% | | LENT OUT | 0.41% | | AVAILABLE FOR SALE | 0.00% | | UNRECOVERED | -5.06% |
FC stated return 2.7%. Pretty dire return. Happy I’m totally out (bulk @ 282 days after first investing) without capital losses. FC are dire, but there are/have been many worse platforms. To say FC is one of the best is both true and a damning indictment of those that are worse. How would you define their "dire" behaviour?
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 1, 2021 16:44:10 GMT
How would you define their "dire" behaviour? I would leave it you and others to express. I don’t give too much time or thought to FC and haven’t for a couple of years. that kind of means you don't know you just wanted more back with less risk.
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ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
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Post by ashtondav on Jan 3, 2021 16:14:03 GMT
For someone who “doesn’t give too much time or thought to FC”, you don’t half post a lot...
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