rob46
New Member
Posts: 1
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Post by rob46 on Aug 15, 2021 20:41:11 GMT
I am surprised that there are so few new loans on offer. I have been an investor for five years and would have thought that things would have picked up by now.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Aug 16, 2021 7:42:55 GMT
I am surprised that there are so few new loans on offer. I have been an investor for five years and would have thought that things would have picked up by now. I think AC are issuing plenty of loans, but we don't get to see them. Look at the loan numbers, at least 6 were issued between Wednesday and Friday last week. AC are approved for CBILS (now RLS) so can offer 80% govt backed loans and they are probably at lower rates than we want. They could be so busy that they are turning down loans that would be suitable for retail lenders.
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Post by gramsky on Aug 16, 2021 9:15:46 GMT
I am surprised that there are so few new loans on offer. I have been an investor for five years and would have thought that things would have picked up by now. Ditto, which is why I am pulling money out of AC.
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trium
Member of DD Central
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Post by trium on Aug 16, 2021 13:54:33 GMT
I am surprised that there are so few new loans on offer. I have been an investor for five years and would have thought that things would have picked up by now. Ditto, which is why I am pulling money out of AC. To be honest, they're probably quite happy that you are at the moment. Just a few months ago everyone was scrambling for the exit but now they all want back in and there is still too much money around. I'm having problems getting invested on a couple of platforms right now. The last Zopa update amounted virtually to an invitation to withdraw your cash. Queues there have reached 10 weeks. Platforms have tightened their lending criteria too so more borrowers are turned away. I certainly wouldn't want them to take risks just to satisfy investor demand for new loans. I'm reducing cash but I've not given up on AC just yet.
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rscal
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Post by rscal on Aug 16, 2021 15:08:49 GMT
Perhaps AC could throw a few bob into the PFs? [or even remit some of that fee taken earlier in the year?]
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alender
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Post by alender on Aug 17, 2021 10:30:16 GMT
Ditto, which is why I am pulling money out of AC. To be honest, they're probably quite happy that you are at the moment. Just a few months ago everyone was scrambling for the exit but now they all want back in and there is still too much money around. I'm having problems getting invested on a couple of platforms right now. The last Zopa update amounted virtually to an invitation to withdraw your cash. Queues there have reached 10 weeks. Platforms have tightened their lending criteria too so more borrowers are turned away. I certainly wouldn't want them to take risks just to satisfy investor demand for new loans. I'm reducing cash but I've not given up on AC just yet. I think the lenders scrambling for the exit are long gone most with their money invested elsewhere, it is more than likely because there are now too many repayments to cover the funds of the lenders wanting to stay. Until government stops lending at these low rates (by printing the money) I think it will be hard to get a good return on P2P, once the government support is finished it is likely that the the risks will increase for P2P loans. Also it looks like AC have given up on those troublesome retail investors while there is easy money to be made from government loans.
For me getting out has so far proved to be one of the best financial moves I have made, most gone into REITs with a higher yield than ACs AAs and also seen a good rise in capital value. IMO most REITs have better/safer assets than AC, also able to get at my funds anytime, no notice or chance of lock ins.
I would have liked to stay in cash but with the current interest rate and amount of money being printed it does look like a good option. I am now part way into my next move replacing the UK REITs with multinational mining/energy companies (on the dips) which will end up sending more and more to China/India etc. I am hopping this will insulate me from inflation due to western money printing and dip in the economy due to government debt from covid costs, western companies increased costs due green and PC policies and also the additional corporation tax coming down the line.
However which ever option you chose I wish you luck as I do not like to see anyone losing money especially when it has been earned through hard work.
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