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Post by Ace on Dec 31, 2021 16:10:02 GMT
With 2021 drawing to a close it's time for a review of how my 4th year of P2P investing went. I'm pleased to say that the year has been pretty good for me. My overall capital weighted average XIRR increased from 6.44% to 7.53%. This doesn't include any accrued profits, just those that have actually been paid. As with last year, I believe this to be understated due to starting more bullet loans, which act as a drag on realised returns until they conclude. My total funds in P2P has risen by a more modest 14% this year (increase was 80% last year). The more accurate overall measure, where I conceptually combine all accounts in to one account gives an overall XIRR of 7.47%. Unlike the above measure, this one includes all cashbacks and bonuses, but they no longer make much difference to the overall results as they are mainly paid when starting new accounts (total bonuses only represent 5.7% of my total P2P profits, and this is generally falling). The rise in the XIRR over the year somewhat masks the true level of performance this year. My estimate of this years performance is between 10.6% and 10.9% depending on whether I use the capital-weighted or true XIRR figures, again this excludes accrued profits. Frankly, I'm surprised that the single year figure has been so good. So much so that I've spent a considerable time looking for errors in my calculations. I'm satisfied that there aren't any errors, so I turned to look for a rational explanation. I've concluded that it's most likely due to more bullet loans repaying this year. In addition to this, the lack of bullet loans repaying in earlier years has caused the understated returns there to make this year's figure look exceptional when it really isn't. I shouldn't really have been surprised since my last quarterly update in 2020 was to predict a way to move my portfolio towards 11% per annum returns. It seems I'm closer to this than I realised. Now to urinate on my own parade by comparing this year's P2P portfolio return with that of my preferred global equity tracker investment, i.e. VWRL which achieved 17.87% this year. In the 4 years that I've been investing in P2P VWRL has returned an XIRR of 9.86%. I'm still of a mind that these two methods of investment will give similar returns over the long term, but with much less volatility in my P2P portfolio. This means that the P2P investments are more suitable for shorter investment timescales and are less susceptible to market timing, while the global trackers benefit from infinitely less work. And, from a personally biased viewpoint, P2P is much more fun, and is something that can benefit form the extra work. Whereas, in my experience trying to pick and time equity investments works to my disadvantage (other's milage may differ). Now for the table... All accounts have been running for between 3 and 4 years except where stated. I've reduced the table complexity by giving one combined figure for each platform. previous year's figures can be found in last year's update here. All XIRRs now include referral bonuses and cashbacks. They exclude accrued interest unless stated otherwise. Note also that they are measured from account opening, not just single year figures. E.g. the latest value for my ABLrate IFISA of 11.06% indicates that on average I've received that rate per year for the 4 years since the account was opened, giving a total 52.21% profit, I.e. (((1.1106 ^ 4) - 1) * 100). Note that the newer a platform is the more understated it's results will be due to having had fewer loans mature, especially so where they charge upfront fees and/or use bullet loans. | Platform | XIRR to end 2021 | Notes |
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| ABLrate | 11.06% | Still one of my favourite platforms, but confidence has been shaken by the sheer number of loans that are struggling. I trust ABLrate to get as many back on track as possible. I do feel overexposed here, so I'm reducing my exposure a little by withdrawing income/repayments from my standard account. I'm still reinvesting in the ISA. XIRR has dropped due to forbearance. It should jump back if the AF loans get their outstanding interest capitalised. ASMX provides a very capable SM, but I'm still not seeing any benefits over the old SM. Communication to lenders needs to be improved. | | Assetz Capital | 9.59% | I'm generally withdrawing as loans run down due to lack of new loans for retail customers that compete favourably with loans elsewhere. It's a shame for me as I liked their SM a lot and made decent profits from it. My XIRR is now falling as my favourite and largest "diamond" loan has fully repaid. I'm expecting some losses from my remaining loans, but i don't expect my overall XIRR to fall below 7%. It's possible that I could return if their Access Accounts become fully operational at acceptable rates, or the rates on the MLA become competitive again. | | Assetz Exchange | 13.23% | New in Sep 2019. I feel that I was exceptionally lucky to get in early here as the bulk of the paper profits are due to premiums increasing since I bought. I'm generally withdrawing repayments, but sometimes reinvesting when something of value appears. I don't understand why lenders are prepared to pay such high premiums for some of the charity lease loans. The premiums plus buying and selling costs/fees could easily wipe out 10 years worth of income, so you would be solely reliant on the property price for any gain if lenders voted to sell after a 10 year lease. Yields would be ok if the properties are perpetually leased, but you are then relying on the premiums still being high when you eventually want to sell. | | AxiaFunder | 3.71% | New in Jan 2019. A few more cases have completed. My return is low so far due to a large premium I payed for a loan on the SM which hasn't yet completed. No losses so far. Eventual XIRR is very difficult to estimate here as it could vary wildly between a big loss and a big profit. To have a stab, I calculated that, if all loans completed last Nov and paid all of the accrued interest, but the 2 largest accruals become zero and 2 of 9 loans are average capital write-offs, my XIRR would be 20%. I'd be happy with that. | | Blend | 1.48% | New in May 2021. Property development loans with a £1k minimum. Too new for the return figure to be meaningful It just represents a referral bonus as no loans are repaying yet. I like the loans here, but cash drag required to get invested and lack of an ISA means the funds will probably go elsewhere. Crazy autolend mechanics requiring idle funds on the platform needs to be addressed. | | Brickowner | 0.21% | Again, the return so far is just from cashbacks as my investments only pay at maturity and none have matured yet. I seem to be in perpetual delays on this platform. The loans look good, but XIRRs will be reduced by the delays. I've stopped taking on new loans here until some of my existing loans conclude. The introduction of monthly loan reports is welcome, but could be improved with clearer and expanded commentary. The introduction of an SM is also welcome. | | British Pearl | -6.44% | New in May 2019. They've took a rash decision during Covid to sell all properties at a loss to a platform backer, leaving me with an unnecessary loss!!! I'm now fully out and won't be back. | | CapitalRise | 5.05% | New in Feb 2019. Becoming another favourite. XIRR is understated as loans pay interest at maturity, would be 9.5% including accrued interest, but new rates seem to be falling. | | Connective Lending | 6.66% | New in Feb 2021. A welcome addition to the pawn loan market. Too early to say how this platform will turn out as they haven't been running for a year yet, but seems to be running smoothly so far. I'd say it's quite positive from the loans point of view, which is the main thing. The website is fairly poor, and doesn't work well on my android tablet, where it takes nearly a minute to log in or return to the Dashboard page. | | CrowdProperty | 4.88% | New in Jan 2019. Already one of my favourites. Seems to have exceptionally good DD. Many loans pay interest at maturity, so XIRR is understated. On the negative side, I think there are a few issues on the lending side that they could and should have addressed by now. | | Crowdstacker | 5.78% | Reduced XIRR due to exposure to the A*th*nt*c Al*h**s* loan default. This platform seems to be pivoting towards being a property development loan platform. Time will tell whether they can pull it off. | | Elfin Market | 8.82% | New in Feb 2020. Very small toe in water. I've invested more in the equity than the loans. I'm cautious with investing on unsecured consumer loan platforms as I haven't had one that was really worth the risk yet. Perhaps this one could be the one. The returns have been good so far, but they're well above their forecast returns. I doubt that this will be maintained. I'd like more transparency as a lender. | | Funding Circle | 3.16% | The incompetence of this platform is well documented elsewhere. I'm trying to pull out. Only unsellable loans left for me. Outstanding capital has reduced by 60% this year. | | Growth Street | 6.98% | Fully exited and closed. A shame. I quite liked this platform. | | Grupeer | 4.52% | I'm trying to exit my euro platforms. This platform has completely stalled since May 2020. No payments or account updates of any kind since then. | | HNW Lending | 6.75% | New in Dec 2020. Asset based loans with a minimum of £10k (£5k in ISA or autolend). Very outdated website. My loans are running smoothly once they start. I've suffered quite a bit of cash-drag due to loans not starting when forecast, and some being cancelled. I may reduce exposure when loans repay as rates have been falling. | | Kuflink | 14.80% | My XIRR is massively boosted here by early bonuses. My underlying return is 6.58%. I would have invested more in Kuflink if they had kept their original 20% first loss skin. I steer well clear of any 2nd tier and higher loans as the rates are too low on these for the risk. I've been withdrawing from Standard loans, but will add more funds now that self-select is allowed from ISA transfers in. | | Landlord Invest | 9.68% | New in Feb 2019. Running smoothly, but not enough loans. SM is very liquid. Will add more via ISA when I can. | | Lending Works | 4.67% | I greatly reduced my exposure to this platform in Dec 2019 as I was annoyed/concerned that they took too long to react to the rapidly shrinking PF issue. I stupidly left some funds in my IFISA, which are now trapped. XIRR has been shrinking for more than a year due to "negative interest". | | LoanPad | 6.02% | New in Sep 2019. Another favourite. Safest platform in P2P. Rolling withdrawals work well for quicker access in Premium account. My return is high due to referral interest rate boosts, but now falling as these come to an end. | | Lendy | 3.33% | I only have a small investment trapped in administration here thanks to the warnings on the forums. I expect to make a large percentage loss, but a very small loss in absolute cash terms. | | Mintos € | 14.90% | Good return. Now running down as they don't accept new investments from UK investors. Almost nothing left. | | Mintos £ | 11.76% | Good return. I'm completely out since Sep 2020. | | MoneyThing | 7.13% | This platform is now in administration. I'm expecting losses. 20% of outstanding capital was returned this year with more to come, hopefully. | | OnStep | 3.01% | New in Feb 2020. An Unbolted cousin. I like the concept. Most profit expected at end of loan through property equity, so initial XIRR will be low. Still only 1 loan ever on this platform, so doesn't look like it's going anywhere. | | Property Partner | 7.55% | I'm passively withdrawing from this platform as the fees are too high for small investors. | | Proplend | 10.40% | Another favourite. New VAT loans look like an interesting and needed expansion. I'm trying to shift from Standard to ISA. | | Qardus | 17.99% | New in Oct 2020. Sharia compliant platform. Early days, but returns have been very good so far. So good that I'd have to vote this as the platform of the year. I've benefited from promotional programs (QBoost and QFirst). I hope they can keep it going. | | Rate Setter | 4.46% | Never been keen on this platform, which has now closed. Was always too much hassle for too little return. Out now. Glad to escape without a capital haircut. | | Robocash | 12.44% | I'm withdrawing from my euro platforms. Can't complain about the returns. Fully out now. | | Shojin | 0% | New in Oct 2021. Higher risk/return development loans with a £5k minimum. I have high hopes. | | SoMo | 9.76% | New in Dec 2020. Bridging loans with a £5k minimum. My loans have done well, but new rates are too low for me, so I'm drawing down. | | Unbolted | 9.40% | Another favourite. A consistent performer with stable returns. I like it for diversification into pawn loans. Difficult to get funds deployed. I hope to be able to add a bit more. | | Uown | 8.19% | Potential for higher returns at end of investments. I like Uown, but I seem to be in the minority. Only 1 loan left now, so will probably withdraw when it completes. | | Welendus/Fund Ourselves | 4.83% | I lost all faith in this platform. I'm finally out without a loss, but took over a year to withdraw, which ruined the return. | | Zopa | 3.13% | Feels like the risk v reward balance is too heavily weighted on the risk side. I've been withdrawing for more than a year. Should be out next month when they close to lenders. A waste of time for me. |
My strategy for the last year was ( with how it went in blue): Move as much as possible from non-ISAs to ISAs. (Some, but quite a few of my preferred loans didn't have ISA options.) Put this year's remaining ISA allowance in a cash ISA then split it into multiple IFISAs in the new tax year. (Some, but didn't use my full ISA allowance.) Keep a single platform limit of 20% of p2p portfolio. (Yes. ABLrate is currently highest at 19% of portfolio.) Liquidate underperforming platforms and non ISA wrapped investments as and when cash is required. (Lendy, Zopa, RS and FC will probably be the first to go). (On going: exited GS, FO, RS, BP & RC. L, Z, FC, M & LW now total less than 0.1% of portfolio.) Maintain a large float in lower rate, easier access, platforms and use to fund higher rate loans as ones I like become available. In future I should be able to reduce the need for easy access accounts as I build up a larger number of higher paying loans with several maturing each month (I'll also maintain at least a year's living expenses in FSCS protected accounts). (This has become redundant as there are now sufficient loans maturing each month to fund living expenses and new loans) Maintain a number of rolling withdraw requests in Loanpad to fund any extra unexpected cashflow needs. (Yes) Take advantage of cashback offers, but don't be blinded by them. (Was mildly blinded by Qardus' QFirst program.) Try not to be tempted by new platforms (I have too many already, but a few are in wind-down). (Failed, I have 3 new platforms. However I have fully exited 5 this year and reduced 5 more to less than 0.1% of portfolio each. 18 platforms have > 1% of portfolio each.) Reinvest maturing loans if cash is not needed. (Yes) Keep reading P2PIF and exit platforms earlier rather than later if it looks like they're in trouble. (Ongoing) Raise my average overall XIRR from this years 6.44%. (Yes) Arrange for at least 4 loans totalling at least £5k of maturing funds per calendar month for at least 12 months ahead. (Almost. It worked well for last year. 4 months are currently a little short for next year, but hopefully the months with extra loans maturing will fill in any gaps. I also have 15 loans across 8 platforms totalling £17k that are running late which should fill in some gaps. LP can also be used to plug gaps and various platforms have SMs that could also come to the rescue.)My strategy for 2022: Keep going with last year's strategy. Raise my average overall XIRR from this year's 7.47%. Good luck in 2022 everyone. Please feel free to ask questions or add your own reports to this thread. I very much enjoy reading about how P2P is working for others. |
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Post by overthehill on Dec 31, 2021 17:22:38 GMT
With 2021 drawing to a close it's time for a review of how my 4th year of P2P investing went. I'm pleased to say that the year has been pretty good for me. My overall capital weighted average XIRR increased from 6.44% to 7.53%. This doesn't include any accrued profits, just those that have actually been paid. As with last year, I believe this to be understated due to starting more bullet loans, which act as a drag on realised returns until they conclude. My total funds in P2P has risen by a more modest 14% this year (increase was 80% last year). The more accurate overall measure, where I conceptually combine all accounts in to one account gives an overall XIRR of 7.47%. Unlike the above measure, this one includes all cashbacks and bonuses, but they no longer make much difference to the overall results as they are mainly paid when starting new accounts (total bonuses only represent 5.7% of my total P2P profits, and this is generally falling). The rise in the XIRR over the year somewhat masks the true level of performance this year. My estimate of this years performance is between 10.6% and 10.9% depending on whether I use the capital-weighted or true XIRR figures, again this excludes accrued profits. Frankly, I'm surprised that the single year figure has been so good. So much so that I've spent a considerable time looking for errors in my calculations. I'm satisfied that there aren't any errors, so I turned to look for a rational explanation. I've concluded that it's most likely due to more bullet loans repaying this year. In addition to this, the lack of bullet loans repaying in earlier years has caused the understated returns there to make this year's figure look exceptional when it really isn't. I shouldn't really have been surprised since my last quarterly update in 2020 was to predict a way to move my portfolio towards 11% per annum returns. It seems I'm closer to this than I realised. Now to urinate on my own parade by comparing this year's P2P portfolio return with that of my preferred global equity tracker investment, i.e. VWRL which achieved 17.87% this year. In the 4 years that I've been investing in P2P VWRL has returned an XIRR of 9.86%. I'm still of a mind that these two methods of investment will give similar returns over the long term, but with much less volatility in my P2P portfolio. This means that the P2P investments are more suitable for shorter investment timescales and are less susceptible to market timing, while the global trackers benefit from infinitely less work. And, from a personally biased viewpoint, P2P is much more fun, and is something that can benefit form the extra work. Whereas, in my experience trying to pick and time equity investments works to my disadvantage (other's milage may differ). Now for the table... All accounts have been running for between 3 and 4 years except where stated. I've reduced the table complexity by giving one combined figure for each platform. previous year's figures can be found in last year's update here. All XIRRs now include referral bonuses and cashbacks. They exclude accrued interest unless stated otherwise. Note also that they are measured from account opening, not just single year figures. E.g. the latest value for my ABLrate IFISA of 11.06% indicates that on average I've received that rate per year for the 4 years since the account was opened, giving a total 52.21% profit, I.e. (((1.1106 ^ 4) - 1) * 100). Note that the newer a platform is the more understated it's results will be due to having had fewer loans mature, especially so where they charge upfront fees and/or use bullet loans. | Platform | XIRR to end 2021 | Notes |
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| ABLrate | 11.06% | Still one of my favourite platforms, but confidence has been shaken by the sheer number of loans that are struggling. I trust ABLrate to get as many back on track as possible. I do feel overexposed here, so I'm reducing my exposure a little by withdrawing income/repayments from my standard account. I'm still reinvesting in the ISA. XIRR has dropped due to forbearance. It should jump back if the AF loans get their outstanding interest capitalised. ASMX provides a very capable SM, but I'm still not seeing any benefits over the old SM. Communication to lenders needs to be improved. | | Assetz Capital | 9.59% | I'm generally withdrawing as loans run down due to lack of new loans for retail customers that compete favourably with loans elsewhere. It's a shame for me as I liked their SM a lot and made decent profits from it. My XIRR is now falling as my favourite and largest "diamond" loan has fully repaid. I'm expecting some losses from my remaining loans, but i don't expect my overall XIRR to fall below 7%. It's possible that I could return if their Access Accounts become fully operational at acceptable rates, or the rates on the MLA become competitive again. | | Assetz Exchange | 13.23% | New in Sep 2019. I feel that I was exceptionally lucky to get in early here as the bulk of the paper profits are due to premiums increasing since I bought. I'm generally withdrawing repayments, but sometimes reinvesting when something of value appears. I don't understand why lenders are prepared to pay such high premiums for some of the charity lease loans. The premiums plus buying and selling costs/fees could easily wipe out 10 years worth of income, so you would be solely reliant on the property price for any gain if lenders voted to sell after a 10 year lease. Yields would be ok if the properties are perpetually leased, but you are then relying on the premiums still being high when you eventually want to sell. | | AxiaFunder | 3.71% | New in Jan 2019. A few more cases have completed. My return is low so far due to a large premium I payed for a loan on the SM which hasn't yet completed. No losses so far. Eventual XIRR is very difficult to estimate here as it could vary wildly between a big loss and a big profit. To have a stab, I calculated that, if all loans completed last Nov and paid all of the accrued interest, but the 2 largest accruals become zero and 2 of 9 loans are average capital write-offs, my XIRR would be 20%. I'd be happy with that. | | Blend | 1.48% | New in May 2021. Property development loans with a £1k minimum. Too new for the return figure to be meaningful It just represents a referral bonus as no loans are repaying yet. I like the loans here, but cash drag required to get invested and lack of an ISA means the funds will probably go elsewhere. Crazy autolend mechanics requiring idle funds on the platform needs to be addressed. | | Brickowner | 0.21% | Again, the return so far is just from cashbacks as my investments only pay at maturity and none have matured yet. I seem to be in perpetual delays on this platform. The loans look good, but XIRRs will be reduced by the delays. I've stopped taking on new loans here until some of my existing loans conclude. The introduction of monthly loan reports is welcome, but could be improved with clearer and expanded commentary. The introduction of an SM is also welcome. | | British Pearl | -6.44% | New in May 2019. They've took a rash decision during Covid to sell all properties at a loss to a platform backer, leaving me with an unnecessary loss!!! I'm now fully out and won't be back. | | CapitalRise | 5.05% | New in Feb 2019. Becoming another favourite. XIRR is understated as loans pay interest at maturity, would be 9.5% including accrued interest, but new rates seem to be falling. | | Connective Lending | 6.66% | New in Feb 2021. A welcome addition to the pawn loan market. Too early to say how this platform will turn out as they haven't been running for a year yet, but seems to be running smoothly so far. I'd say it's quite positive from the loans point of view, which is the main thing. The website is fairly poor, and doesn't work well on my android tablet, where it takes nearly a minute to log in or return to the Dashboard page. | | CrowdProperty | 4.88% | New in Jan 2019. Already one of my favourites. Seems to have exceptionally good DD. Many loans pay interest at maturity, so XIRR is understated. On the negative side, I think there are a few issues on the lending side that they could and should have addressed by now. | | Crowdstacker | 5.78% | Reduced XIRR due to exposure to the A*th*nt*c Al*h**s* loan default. This platform seems to be pivoting towards being a property development loan platform. Time will tell whether they can pull it off. | | Elfin Market | 8.82% | New in Feb 2020. Very small toe in water. I've invested more in the equity than the loans. I'm cautious with investing on unsecured consumer loan platforms as I haven't had one that was really worth the risk yet. Perhaps this one could be the one. The returns have been good so far, but they're well above their forecast returns. I doubt that this will be maintained. I'd like more transparency as a lender. | | Funding Circle | 3.16% | The incompetence of this platform is well documented elsewhere. I'm trying to pull out. Only unsellable loans left for me. Outstanding capital has reduced by 60% this year. | | Growth Street | 6.98% | Fully exited and closed. A shame. I quite liked this platform. | | Grupeer | 4.52% | I'm trying to exit my euro platforms. This platform has completely stalled since May 2020. No payments or account updates of any kind since then. | | HNW Lending | 6.75% | New in Dec 2020. Asset based loans with a minimum of £10k (£5k in ISA or autolend). Very outdated website. My loans are running smoothly once they start. I've suffered quite a bit of cash-drag due to loans not starting when forecast, and some being cancelled. I may reduce exposure when loans repay as rates have been falling. | | Kuflink | 14.80% | My XIRR is massively boosted here by early bonuses. My underlying return is 6.58%. I would have invested more in Kuflink if they had kept their original 20% first loss skin. I steer well clear of any 2nd tier and higher loans as the rates are too low on these for the risk. I've been withdrawing from Standard loans, but will add more funds now that self-select is allowed from ISA transfers in. | | Landlord Invest | 9.68% | New in Feb 2019. Running smoothly, but not enough loans. SM is very liquid. Will add more via ISA when I can. | | Lending Works | 4.67% | I greatly reduced my exposure to this platform in Dec 2019 as I was annoyed/concerned that they took too long to react to the rapidly shrinking PF issue. I stupidly left some funds in my IFISA, which are now trapped. XIRR has been shrinking for more than a year due to "negative interest". | | LoanPad | 6.02% | New in Sep 2019. Another favourite. Safest platform in P2P. Rolling withdrawals work well for quicker access in Premium account. My return is high due to referral interest rate boosts, but now falling as these come to an end. | | Lendy | 3.33% | I only have a small investment trapped in administration here thanks to the warnings on the forums. I expect to make a large percentage loss, but a very small loss in absolute cash terms. | | Mintos € | 14.90% | Good return. Now running down as they don't accept new investments from UK investors. Almost nothing left. | | Mintos £ | 11.76% | Good return. I'm completely out since Sep 2020. | | MoneyThing | 7.13% | This platform is now in administration. I'm expecting losses. 20% of outstanding capital was returned this year with more to come, hopefully. | | OnStep | 3.01% | New in Feb 2020. An Unbolted cousin. I like the concept. Most profit expected at end of loan through property equity, so initial XIRR will be low. Still only 1 loan ever on this platform, so doesn't look like it's going anywhere. | | Property Partner | 7.55% | I'm passively withdrawing from this platform as the fees are too high for small investors. | | Proplend | 10.40% | Another favourite. New VAT loans look like an interesting and needed expansion. I'm trying to shift from Standard to ISA. | | Qardus | 17.99% | New in Oct 2020. Sharia compliant platform. Early days, but returns have been very good so far. So good that I'd have to vote this as the platform of the year. I've benefited from promotional programs (QBoost and QFirst). I hope they can keep it going. | | Rate Setter | 4.46% | Never been keen on this platform, which has now closed. Was always too much hassle for too little return. Out now. Glad to escape without a capital haircut. | | Robocash | 12.44% | I'm withdrawing from my euro platforms. Can't complain about the returns. Fully out now. | | Shojin | 0% | New in Oct 2021. Higher risk/return development loans with a £5k minimum. I have high hopes. | | SoMo | 9.76% | New in Dec 2020. Bridging loans with a £5k minimum. My loans have done well, but new rates are too low for me, so I'm drawing down. | | Unbolted | 9.40% | Another favourite. A consistent performer with stable returns. I like it for diversification into pawn loans. Difficult to get funds deployed. I hope to be able to add a bit more. | | Uown | 8.19% | Potential for higher returns at end of investments. I like Uown, but I seem to be in the minority. Only 1 loan left now, so will probably withdraw when it completes. | | Welendus/Fund Ourselves | 4.83% | I lost all faith in this platform. I'm finally out without a loss, but took over a year to withdraw, which ruined the return. | | Zopa | 3.13% | Feels like the risk v reward balance is too heavily weighted on the risk side. I've been withdrawing for more than a year. Should be out next month when they close to lenders. A waste of time for me. |
My strategy for the last year was ( with how it went in blue): Move as much as possible from non-ISAs to ISAs. (Some, but quite a few of my preferred loans didn't have ISA options.) Put this year's remaining ISA allowance in a cash ISA then split it into multiple IFISAs in the new tax year. (Some, but didn't use my full ISA allowance.) Keep a single platform limit of 20% of p2p portfolio. (Yes. ABLrate is currently highest at 19% of portfolio.) Liquidate underperforming platforms and non ISA wrapped investments as and when cash is required. (Lendy, Zopa, RS and FC will probably be the first to go). (On going: exited GS, FO, RS, BP & RC. L, Z, FC, M & LW now total less than 0.1% of portfolio.) Maintain a large float in lower rate, easier access, platforms and use to fund higher rate loans as ones I like become available. In future I should be able to reduce the need for easy access accounts as I build up a larger number of higher paying loans with several maturing each month (I'll also maintain at least a year's living expenses in FSCS protected accounts). (This has become redundant as there are now sufficient loans maturing each month to fund living expenses and new loans) Maintain a number of rolling withdraw requests in Loanpad to fund any extra unexpected cashflow needs. (Yes) Take advantage of cashback offers, but don't be blinded by them. (Was mildly blinded by Qardus' QFirst program.) Try not to be tempted by new platforms (I have too many already, but a few are in wind-down). (Failed, I have 3 new platforms. However I have fully exited 5 this year and reduced 5 more to less than 0.1% of portfolio each. 18 platforms have > 1% of portfolio each.) Reinvest maturing loans if cash is not needed. (Yes) Keep reading P2PIF and exit platforms earlier rather than later if it looks like they're in trouble. (Ongoing) Raise my average overall XIRR from this years 6.44%. (Yes) Arrange for at least 4 loans totalling at least £5k of maturing funds per calendar month for at least 12 months ahead. (Almost. It worked well for last year. 4 months are currently a little short for next year, but hopefully the months with extra loans maturing will fill in any gaps. I also have 15 loans across 8 platforms totalling £17k that are running late which should fill in some gaps. LP can also be used to plug gaps and various platforms have SMs that could also come to the rescue.)My strategy for 2022: Keep going with last year's strategy. Raise my average overall XIRR from this year's 7.47%. Good luck in 2022 everyone. Please feel free to ask questions or add your own reports to this thread. I very much enjoy reading about how P2P is working for others.
I read it now in case I forgot and as proof LandlordInvest is a single word !
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
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Post by ozboy on Dec 31, 2021 18:47:22 GMT
@overthe hill "British Pearl - New in May 2019. They've took a rash decision during Covid to sell all properties at a loss to a platform backer, leaving me with an unnecessary loss!!"Blimey, that looks rather "odd" to me, have you/anyone bothered to investigate if there are any, errrr, "inconsistencies"? The platform backer and platform were previously and obviously "cosy"? Just wundrin'?  |
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Post by Ace on Dec 31, 2021 19:11:25 GMT
@overthe hill "British Pearl - New in May 2019. They've took a rash decision during Covid to sell all properties at a loss to a platform backer, leaving me with an unnecessary loss!!"Blimey, that looks rather "odd" to me, have you/anyone bothered to investigate if there are any, errrr, "inconsistencies"? The platform backer and platform were previously and obviously "cosy"? Just wundrin'? I'm guessing that you meant to aim your post at me, since it was me that you quoted. Yes, it was very "odd" and "inconsistent" with protecting lenders. A completely reckless decision in my view. "Cosy" indeed. I imagine the purchaser is now enjoying their "cosy" profits from a forced transaction at the bottom of the market. It would be very interesting, but probably painful, to revalue the portfolio now, but my exposure wasn't enough to be worth pursuing for me. One of my original tongue-in-cheek post was here. What the heck is the FCA for?
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Dec 31, 2021 19:34:16 GMT
"What is the FCA for?"
Themselves!
Of course.
HNY 2 all.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,055
Likes: 616
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Post by dave4 on Jan 1, 2022 0:42:39 GMT
P2P 2021 to 2022 roundup. My Background, started with now't, not a great academic success, learning all the time. I work full time and have fscs protected funds and isa stocks/, a  pension, no dependents. The Plan /aim. A small simple P2p platform portfolio, to provide a complementary and growing income until 2025 minimum and maybe beyond to 2030. Cherry picked Property Low risk 1st charged secured loans / Low risk mezzanine loans. A balanced mixture of bullet loans with repayment at end and loans with monthly withdraw able repayments. In alphabetical order. Ablrate. (home to 12% ££) 3rd year with this platform with a steady year on year increase in platform funds balance. Have cherry picked loans i liked and understood,ASMX has some nice features, with buys and sells have been profitable for me after a slow learning curve start. The recent Issues affecting the majority of loans (and the majority of mine) have all but stalled my reinvesting within the platform, via new loans (some im not interested in) or via ASMX SM. Happy (ish) to await positive developments as i believe the loans i have are sound and have workable solutions. Fingers crossed. Assetz Capital. (was home to 33% of my p2p now 1/8th) 8th year with this platform. Decreasing funds over the last 12 months, mainly from Manual account because of poor loan £% returns / loan sector concerns /Poor new loan flow with low £% returns, Unable to reinvest £ from many finishing loans into too few new loans. Q Acc and 30 day Acc accounts balance £0 as noncompetitive rates. 90D holding ££ balance for now with no plans to increase or decrease. Assetz Exchange.(Home 1% of ££) 3rd year (from the begining) Just buying small amounts new loans, selling a portion on Sm. returns are to low for the admittedly low risks. Axia Funder. (Home to 5% ££) 2nd full year, Quite happy to take a £500 punt on a loan (im no law expert so take this as near edged gambling on other peoples expertise ). Not to happy with the recent FCA persuasion to raise platform minimum to £1000 for my ££ diversification safty?. Intend to continue to cherry pick carefully. Blend.( Home to 1%££ thanks to £1000 min Auto lend que being unimaginably long) 12 months investing. I like the loans, and hope to increase but a Lack of loan flow (trickle or multiple tranches to same loans) has scuppered my investment plans, also a recent decrease of rates to 8% (still competitive ish imho) has dampened my current efforts to zero. Connective Lending. (Home to 1% of ££) Existing Pawn company with New to P2p Platform. 6 months investing.Watched with interest for a few months, liked what i saw, and read here on this forum. diped a toe in, now have a wet leg, and intend to get wetter, Simple platform to use with enough info to make some basic DD on loans, I intend to cherry pick lower ltv loans that i like. Crowd Property (home to 10%££) 3 years investing.Mainly Auto invest for me sometimes as low as £40 per loan. Happy with there loan selection and DD, Have ducked out of 3 loans in 12 months due to concerns over lenders history. Some loans i have managed a decent manual investment but the fastest fingers race is not my strong point. Reinvesting funds as they repay. Platform could do with a revamp as finding loan info/ updates is a choir. A diminishing communication between platform and lenders is disappointing and ongoing and increasing and i feel that this is a mistake by the platform, that said e mail gets a detailed response. Capital Rise. (Home to 12% of ££) 3rd year. Increasing platform balance and reinvesting, Cherry picking loans as i go. Platform is old but functional and still fit for purpose. Webinars for loans are nice and e mail response is excellent. Slow loan flow but i like the quality over quantity. Kufflink (Home to 11% of ££) 3rd year. Increasing platform funds accross mainly the lower risk loans. Good diversification across lenders and tranches is a challenge at times. Platform info on loans is improving with upgrades almost bimonthly. Chat feature is exelent and lisa always answers questions professionally and thoroughly, and a phone call back if im still con fuddled. Monthly or term choice of repayments per loan is a nice option to have. Lendary. (Less than 1% of ££) Automated lending to cripto trading sector,Basically Fund and forget. With a bit of tinkering with settings its Returning just over 6 ish % after fees. Apparently i can't loose my funds because of the tech magic. A absolute mission to set up (took 2 days of frustration filled security) despite clear instructional videos. (Hint. employ a 12 year old gamer). May increase funds if the trend for crypto being speculatively traded increases keeping a high demand for my funds. Landlord Invest ( -1% of funds) Watched for last 18 months, took the plunge November, intend to cherry pick loans to reach about 10% of ££. Note was looking for a platform as blend was/ is impossible to fund and the shortlist was lendinvest, somo,lli. The slightly higher returns of lli swung it for me. Loan Pad (home to 10% of ££) 2nd year. Basicly a safe as i can find place to get 4% interest with access via multiple rolling 60 day withdrawal requests. 30 days quicker than AC's 90d Acc account for 0.1% less interest and a much safer black box loan portfolio. A near instant access account for holding my cash. Nice simple platform. Proplend (home to 10% Of ££ and rising quickly) 1st year. Watched for 2 years, then took the plunge through Auto invest (invests in the low option risk)).Simple 3 risk choice for manual lenders. Intend to increase exposure to 20% of ££ ish as loan flow allows into property loans. The New VAT loans look very interesting, and im intending to invest but treat vat loans as a seperate entity. Qardos. (home to 20% of ££) 1st year (from the platform opening). A random google search found this platform may/June ish. Unsecured business lending with a difference. I qualified for,Q boost and Q first interest boost offers. which i have fully exploited from the start (not to much dipped a toe as belly flopped and held my breath). Not sure i will get so wet in 2022 as returns will /may be less for the risk. Has been my most profitable platform so far and has prompt monthly payments. Good communication via e mail, slow loan flow and small ish loans. I hope this platform can go places i kinda like it. Shojin. (5% of funds) 1st year. (huge scary grown up lump of cash minimum for me per loan £5k to £10k and talk of 20k!) Shojin was one of my first P2P platform discoveries way back in 2014 ish. Ended up investing in AC and the now closed rate setter (now finished and repaid all funds and interest thank you) and Lord Wellesly's venture which went well "not". I have always liked the shojin loans and there track record has always impressed me. Its always bin the massive £££££££ per loan that stopped me for 8 years. Finally took the plunge this year and will cherry pick carefully and intend to keep to less than 20% of my ££s. which focuses the mind somewhat. Conclusion /outcome.2021/2022 15 platforms is hardly a small p2p platform portfolio, (my goal was 5 to 10 max ). My platform expansion has mainly been driven by AC returning funds, and rate setter closing, and having funds needing a home. It is i believe a diverse selection, mainly in i hope safer secured 1st charged property loans. Or lower risk bullet loans. Ablrate is my diversification into speculative business loans and has screeched to a halt. I believe i have chosen wisley in my loan choice and will become good maybe within 18 months. Qardos is an exception and really helps to up my returns average this year. Connective lending being a brand new platform launch is a concern but is born from a long established and continuing pawn brokers business. Lendery as near as i intended to get to crypto for now. 2022 plans. i do not intend to change my platforms, unless concerns appear with loan quality or platform Operating behavior or failure. That said Q. ( risk to reward balance diminishing), CP. (increasing lack of communication/ increasing loan opaqueness) /and AE. (poor returns) AC. (loan flow,default/struggling loan management, and risk to reward ratio changing),are nearest the top of the shortlist as it stands, But ABL may quickly force its way to the front. The future concerns. The FCA are i believe the greatest concern/threat regarding my p2p investments for 2022. (Nowt i can do except watch and react.) Rising inflation eroding profits which affects the risk to reward ratio across every platform.(Nowt i can do except manage the risk) Platform Growth/ loan quality based on complacency and the large pool of investors cash waiting to enter there platform.(Hopefully Walk away when i feel like a cash cow, before everyone else dose). |
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Post by overthehill on Jan 1, 2022 13:26:55 GMT
@overthe hill "British Pearl - New in May 2019. They've took a rash decision during Covid to sell all properties at a loss to a platform backer, leaving me with an unnecessary loss!!"Blimey, that looks rather "odd" to me, have you/anyone bothered to investigate if there are any, errrr, "inconsistencies"? The platform backer and platform were previously and obviously "cosy"? Just wundrin'? I'm guessing that you meant to aim your post at me, since it was me that you quoted. Yes, it was very "odd" and "inconsistent" with protecting lenders. A completely reckless decision in my view. "Cosy" indeed. I imagine the purchaser is now enjoying their "cosy" profits from a forced transaction at the bottom of the market. It would be very interesting, but probably painful, to revalue the portfolio now, but my exposure wasn't enough to be worth pursuing for me. One of my original tongue-in-cheek post was here. What the heck is the FCA for? You can never tell. Property Partner did exactly the opposite but it hasn't stopped my portfolio value sliding ever since - in addition to the decimated dividends.
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Post by Ace on Apr 3, 2022 1:13:38 GMT
It's time for the end of first quarter update on how my portfolio is going. The quick answer is that it's going well. The overall platform XIRR has increased from 7.53% to 7.62%. I'm very pleased with that considering the ongoing problems with stalled loans on my largest platform (ABLrate). It's only a small increase, but trying to raise the XIRR of a portfolio that's been running for over 4 years is like trying to turn a supertanker. There hasn't been much of a change to the platforms that make up my portfolio. One exit, ConnectiveLending, which will be sadly missed. And one addition, CapitalStackers, where I've been impressed with the platform's DD. The constitution of my portfolio in order of funds deployed is currently: | Rank | Last year | Platform | % of pot | Comment | | 1 | 1 | ABLrate | 16.88 | Reducing from Standard and Inherited accounts. Maintaining in ISA account. | | 2 | 3 | CrowdProperty | 12.82 | Maintaining (reinvesting profits). | | 3 | New | Shojin | 8.87 | New in Oct 21. Adding to Standard and ISA. | | 4 | 4 | AxiaFunder | 7.65 | Adding. | | 5 | 2 | Loanpad | 7.28 | Have reduced to fund higher rate loans elsewhere. Now maintaining. | | 6 | 7 | Proplend | 6.59 | Adding. | | 7 | 13 | HNW Lending | 6.53 | Maintaining. | | 8 | 6 | Qardus | 6.41 | Adding. | | 9 | 9 | BrickOwner | 3.95 | Will probably reduce if any loans eventually repay until record of delays improves. | | 10 | 12 | Unbolted | 3.72 | Slowly adding when possible. | | 11 | 15 | LandlordInvest | 2.82 | Adding. | | 12 | 14 | AssetzExchange | 2.56 | Removing income. | | 13 | 10 | CapitalRise | 2.26 | Have withdrawn from Standard account. Will add to ISA if higher rate loans arrive. | | 14 | 5 | AssetzCapital | 2.00 | Reducing as rates are too low for risk. | | 15 | New | Blend | 1.77 | Will reduce as I don't like their autoinvest cash drag. | | 16 | 11 | Kuflink | 1.41 | Withdrawing from Standard account, but increasing ISA account. | | 17 | New | CapitalStackers | 1.27 | New in April 22. Adding. | | 18 | 17 | PropertyPartner | 1.27 | Reducing. | | 19 | 19 | Crowdstacker | 1.01 | Reducing. | | 20 | 8 | SoMo | 0.98 | Reducing as rates are too low. | | 21 | 18 | Moneything | 0.65 | Reducing. In administration. | | 22 | 20 | OnStep | 0.51 | Only 1 loan. Would possibly add if there were more. | | 23 | 16 | Uown | 0.36 | Only 1 loan left. Would possibly add if there were more.
| | 24 | 21 | Grupeer | 0.23 | Will exit if it ever becomes possible. | | 25 | 24 | ElfinMarket | 0.14 | Will increase a bit. | | 26 | 22 | LendingWorks | 0.05 | Reducing. | | 27 | 25 | Lendy | 0.02 | In administration. | | 28 | 26 | FundingCircle | 0.01 | Closed. Exiting. |
All other platforms have been fully exited, i.e. Mintos, RateSetter, Zopa, GrowthStreeet, Robocash, Welendus, BritishPearl and ConnectiveLending. My ABLrate exposure did increase during the year to 20% to fund the PeaOne loans that I liked (and a few others to a lesser extent), but it's now back below last year's percentage due to concerns over the AF situation. My exposure there is still more than my all-time P2P profits, but only just. The next scheduled loan repayment would reverse that. Shojin has had a very rapid climb up the list. I've been very impressed with them. The rapid rise is due to their £5k minimum and my decision to invest in a number of their recent offerings. I maintain a list of all of my bullet loans where I have an exposure of £500 or more. There are currently 111 entries, with 23 of them overdue (14.32% by value). The number of overdue loans by platform are (with value as the secondary sort criteria): | Platform | Number overdue | Rank by longest overdue | Most Months Late | | AssetzCapital | 6 | 1 | 26 | | ABLrate | 4 | 3 | 14 | | CrowdProperty | 4 | 5 | 12 | | LandlordInvest | 2 | 6 | 11 | | Kuflink | 2 | 7 | 5 | | SoMo | 1 | 8 | 3 | | Proplend | 1 | 10 | 1 | | CapitalRise | 1 | 9 | 1 | | Moneything | 1 | 2 | 23 | | CrowdStacker | 1 | 4 | 11 |
Of course, overdue loans are an expected hazzard in the world of property development, so not necessarily anything to worry about in itself. Of the above loans, only those on AC, ABL, MT and CS are in the "likely loss" category. |
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Post by overthehill on Apr 3, 2022 14:22:05 GMT
It's time for the end of first quarter update on how my portfolio is going. The quick answer is that it's going well. The overall platform XIRR has increased from 7.53% to 7.62%. I'm very pleased with that considering the ongoing problems with stalled loans on my largest platform (ABLrate). It's only a small increase, but trying to raise the XIRR of a portfolio that's been running for over 4 years is like trying to turn a supertanker. There hasn't been much of a change to the platforms that make up my portfolio. One exit, ConnectiveLending, which will be sadly missed. And one addition, CapitalStackers, where I've been impressed with the platform's DD. The constitution of my portfolio in order of funds deployed is currently: | Rank | Last year | Platform | % of pot | Comment | | 1 | 1 | ABLrate | 16.88 | Reducing from Standard and Inherited accounts. Maintaining in ISA account. | | 2 | 3 | CrowdProperty | 12.82 | Maintaining (reinvesting profits). | | 3 | New | Shojin | 8.87 | New in Oct 21. Adding to Standard and ISA. | | 4 | 4 | AxiaFunder | 7.65 | Adding. | | 5 | 2 | Loanpad | 7.28 | Have reduced to fund higher rate loans elsewhere. Now maintaining. | | 6 | 7 | Proplend | 6.59 | Adding. | | 7 | 13 | HNW Lending | 6.53 | Maintaining. | | 8 | 6 | Qardus | 6.41 | Adding. | | 9 | 9 | BrickOwner | 3.95 | Will probably reduce if any loans eventually repay until record of delays improves. | | 10 | 12 | Unbolted | 3.72 | Slowly adding when possible. | | 11 | 15 | LandlordInvest | 2.82 | Adding. | | 12 | 14 | AssetzExchange | 2.56 | Removing income. | | 13 | 10 | CapitalRise | 2.26 | Have withdrawn from Standard account. Will add to ISA if higher rate loans arrive. | | 14 | 5 | AssetzCapital | 2.00 | Reducing as rates are too low for risk. | | 15 | New | Blend | 1.77 | Will reduce as I don't like their autoinvest cash drag. | | 16 | 11 | Kuflink | 1.41 | Withdrawing from Standard account, but increasing ISA account. | | 17 | New | CapitalStackers | 1.27 | New in April 22. Adding. | | 18 | 17 | PropertyPartner | 1.27 | Reducing. | | 19 | 19 | Crowdstacker | 1.01 | Reducing. | | 20 | 8 | SoMo | 0.98 | Reducing as rates are too low. | | 21 | 18 | Moneything | 0.65 | Reducing. In administration. | | 22 | 20 | OnStep | 0.51 | Only 1 loan. Would possibly add if there were more. | | 23 | 16 | Uown | 0.36 | Only 1 loan left. Would possibly add if there were more.
| | 24 | 21 | Grupeer | 0.23 | Will exit if it ever becomes possible. | | 25 | 24 | ElfinMarket | 0.14 | Will increase a bit. | | 26 | 22 | LendingWorks | 0.05 | Reducing. | | 27 | 25 | Lendy | 0.02 | In administration. | | 28 | 26 | FundingCircle | 0.01 | Closed. Exiting. |
All other platforms have been fully exited, i.e. Mintos, RateSetter, Zopa, GrowthStreeet, Robocash, Welendus, BritishPearl and ConnectiveLending. My ABLrate exposure did increase during the year to 20% to fund the PeaOne loans that I liked (and a few others to a lesser extent), but it's now back below last year's percentage due to concerns over the AF situation. My exposure there is still more than my all-time P2P profits, but only just. The next scheduled loan repayment would reverse that. Shojin has had a very rapid climb up the list. I've been very impressed with them. The rapid rise is due to their £5k minimum and my decision to invest in a number of their recent offerings. I maintain a list of all of my bullet loans where I have an exposure of £500 or more. There are currently 111 entries, with 23 of them overdue (14.32% by value). The number of overdue loans by platform are (with value as the secondary sort criteria): | Platform | Number overdue | Rank by longest overdue | Most Months Late | | AssetzCapital | 6 | 1 | 26 | | ABLrate | 4 | 3 | 14 | | CrowdProperty | 4 | 5 | 12 | | LandlordInvest | 2 | 6 | 11 | | Kuflink | 2 | 7 | 5 | | SoMo | 1 | 8 | 3 | | Proplend | 1 | 10 | 1 | | CapitalRise | 1 | 9 | 1 | | Moneything | 1 | 2 | 23 | | CrowdStacker | 1 | 4 | 11 |
Of course, overdue loans are an expected hazzard in the world of property development, so not necessarily anything to worry about in itself. Of the above loans, only those on AC, ABL, MT and CS are in the "likely loss" category. Looking at ablrate, I'm assuming overdue refers to past the agreed loan end date rather than defaulted loans or loans 3-6 months repayments behind , still within the original loan period.
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Post by Ace on Apr 3, 2022 14:31:56 GMT
Looking at ablrate, I'm assuming overdue refers to past the agreed loan end date rather than defaulted loans or paused loans which are 3-6 months repayments behind , still within the original loan period. Yes, that's correct. I.e. it's the capital that's overdue. I don't track overdue interest. One of my ABLrate accounts currently has more than 12 pages of red dots (missed payments).
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Post by wiseclerk on Apr 3, 2022 17:21:25 GMT
Interesting list. I had been reducing my p2p exposure since the second half of 2019 through 2020 and 2021 and am only now selectively increasing some positions again.
Rank (by
amount) | Plattform | Comment | | 1. | Bondora | Reinvesting | | 2. | LinkedFinance | Running down
| 3.
| Estateguru
| Increasing
| 3.
| Mintos
| Left in the end of 2019, reentered in March to make use of 10% cashback promotion
| 4.
| Plenti
(was Ratesetter Australia)
| Running down (my loans are at 9% interest rates. Now the level for new loans is down to about 3%, which is not attractive)
| 5.
| Lendermarket
| Reentered in March
| 6.
| AxiaFunder (not P2P)
| so far so good, watching developments
| 7.
| Ablrate
| Running down, about half stuck in various loans not going according to plan
| 8.
| Investly
| Reinvesting (interest rates have picked up lately)
| 9.
| AssetzCapital
| sitting in 90QAA
| 10.
| Housers
| remains; exiting if possible, lots stuck in non-performing loans
| 11.
| LandEx (not p2p)
| new since Sep. 21, investing in farmland
| 12.
| Crowdestate
| parts stuck in one loan
| 13.
| Reinvest24
| staying in the 2 projects I am in, which are running satisfactorily
| 14.
| Moneything
| small amount stuck; platform in adminstration
| 15.
| FellowFinance
| few loans left. Will be bought out as FellowFinance merges with Evli Bank and stops p2p this April
| 16.
| Funding Circle Germany
| exited, just a little amount left in recovery
| 17.
| Auxmoney
| exited years ago, just a little amount left in recovery (one of my oldest platforms)
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My p2p position is currently only a fraction of what it was during the height, which was 2012- first half of 2019 for me. Only the first 5 are sizeable amounts. Ranks 10, 12 and 14 through 17 is just a few Euro left, I cannot remove.
My startup investment position (e.g. through Seedrs) are much bigger nowadays than p2p. But that's also only a fraction of ETF/stocks. But I am looking at increasing p2p again in small steps. One platform I cuurently considering whether to enter is Heavyfinance.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
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Post by ilmoro on Apr 5, 2022 23:44:24 GMT
My performance report for the last financial year. | | | | | Platform | XIRR | Bad debt | Comments | Ablrate
| 5.39%
| £1735
| Exiting slowly, too many defaults with have heavily reduced return and just dont convince me that Im getting the full picture.
| | Assetz Capital | 6.61% | £626.39 | Main platfrom Mainly MLA, enforced reduction due to lack of loans, probably will hold investment level | | Assetz Capital ISA | 4.20% | £43.79 | Mainly Access accounts, rebalancing towards MLA | | Assetz Exchange | 15.09% |
| Increased investment significantly over the year, but will probably hold at this level. Return boosted by paper profits from premium pricing on market. Stripped out return is 4.17% | | Brickowner | 2.09% |
| In limbo as unable to verify. Profits mostly due at term and somewhat delayed in some cases. Static. | | Connective Lending | 13.42% |
| Brief shining star in the P2P firmament | | Easymoney | 2.21% |
| New this year. Minimum investment to get perks as rates too low for more. Some cash drag reducing the return, Factor in savings from perks and rate slightly more healthy 3.81% | | Elfin Market | 6.49% |
| Returns seem to have dropped a bit in last 6 months, gradually increasing. | | Fund Ourselves | 12.27% |
| Best performer on paper but not sure if Ill ever see it. Appalling website & service making it uninvestable. Accrued interest distorts returns. | | Landlordinvest ISA | 6.68% | £200 | Another enforced exit as not really comfortable with higher minimum. Solid platform, Returns distorted by cash drag | | Leap Lending | 1.6% |
| New this year and going nowhere. No loans so never been able to invest more than £30 and now down to £10. | | Lendwise | -8.12% |
| Brand new so only here for completeness, Negative return as yet to receive interest to offset paying accrued interest to seller on SM. Will slowly increase | | Loanpad | 5.19% |
| The comfy slippers. Return slightly boosted by incentives. | | Moneything | 1.75% | £3776 | Look a return and even with the bad debt Im lucky enough to be exiting at a profit | | Octopus Choice | 11.54% |
| Another that will be sadly missed. Down to my last £20, return distorted by interest being caught up after forbearance | | Onstep | 3.24% |
| Another seemingly going nowhere with just one property | | Property Partner | -1.46% |
| Just letting it run its course but almost recovered to break even on the portfolio | | Unbolted | 9.25% |
| Just letting tick, return slightly elevated by accrued interest | | Uown | 8.01% |
| Star performer that seems to have lost its way with a lack of projects. Significant cash drag |
I have residual loans on Funding Secure (effectively out with a profit), Lendy (likely to be a modest loss), Collateral (who knows but it will be painful), and Funding Circle (long exited but pennies from residual defaults) |
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ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
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Post by ashtondav on Apr 6, 2022 9:06:55 GMT
Thought you were with proplend as well?
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Post by Ace on Jul 3, 2022 21:28:17 GMT
It's time for the quarterly update on mp P2P portfolio. Over the quarter the total P2P portfolio XIRR has nudged a very little bit higher from 7.62% to 7.64%. I'm happy with that, especially given the drag on performance from the number of stalled loans on my largest platform (ABLrate). The switch of some funds from the lower rate platforms to the higher rate (and higher risk) platforms (Shojin, CapitalStackers and CPCapital) is also causing a drag on performance now, since none of those loans have matured yet, but they have the potential to raise the overall returns a fair bit higher. There has been 1 new platform (CPCapital) and no removals this quarter. It's a year since I listed my top performing platforms here. So, here's the latest list with last year's position shown to see how things have changed. As before, I've only included my current platforms and have included cashbacks and bonuses in the XIRRs. | Posn. | Last Year's Posn. | Platform | XIRR | Comment | | 1 | 2 | Qardus | 19.17% | I've been with them for 20 months now. They've maintained their early strong performance. They have shown that they start to act tough with the 1 delinquent borrower so far, but it's very early days to see how that will play out. Even a total loss of all remaining capital in that loan would not push the XIRR below 10%. | | 2 | - | Property Partner | 16.37% | A surprising freak rise for this platform (XIRR was only around 7% last year). This is due to a massive rise in value of my largest remaining loan (the shiney fortified property on a hill). Pure luck on my part. | | 3 | 1 | Kuflink | 15.59% | The returns here are unsustainable as they're dominated by very generous referral bonuses that are no longer available. | | 4 | 3 | Assetz Exchange | 12.22% | My returns here are dominated by lucky profits from rises in exchange prices. Not sustainable if held to term since capital rises are limited to 3% pa if the underlying properties are sold. My underlying rental yield is 5%, so I've started to sell out of some of the loans to lock in the profit. | | 5 | - | SoMo | 11.58% | I've been lucky with higher rate older loans here, and from some extra penalty interest. It wouldn't be possible to achieve such a high returns with current rates. I've been drawing down, with only 1 loan remaining now. I sense that rates may have started to rise again, so I may be back. A particularly good return so far for bridging loans with no development risk.
| | 6 | - | LandlordInvest | 11.45% | An unexpected entry due to me taking on some of their higher risk loans, and some penalty interest from late loans. A solid performer. | | 7 | 7 | Proplend | 10.22% | I'm still adding to this platform because I like it a lot. I'm mostly in Tranches B & C, but not easy to get funds deployed. A very solid performer. | | 8 | 5 | ABLrate | 10.04% | Still my largest platform, and highest earner. However, more than half of my loans are currently delinquent, so it will slide out of this list unless ABL manage to sort them out soon, and there is a real risk of losses looming. The property loans are still performing well, if a little delayed, and I continue to invest in these. |
The platforms that have slid out of the list are: Robocash (no longer current) and Assetz Capital (rate too low). The following platforms would have made the above list, but they are no longer current as I've exited them: Mintos Euros 14.90%, Connective Lending 13.35%, Robocash 12.44% and Mintos Sterling 11.76%. I'm expecting the following platforms to make it into the list when more loans mature: AxiaFunder, Shojin, CapitalStackers and CPCapital. |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
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Post by ilmoro on Jul 7, 2022 12:57:18 GMT
3 month performance update ... bit all over the place due to various factors distorting the numbers |
| | | | | Platform | Q1 2022-3 | 2021-22 XIRR | 15m XIRR | Comments | Ablrate
| 8.80% | 5.39%
| 5.99% | Exiting very slowly - out of anything I can that isnt Pone, return distorted by some catch up payments
| | Assetz Capital | 6.4% | 6.61% | 6.55% | Main platform mainly MLA, actually back to fully invested, expect return to increase slightly as loanbook expands and offers better opportunities. Static investment level | | Assetz Capital ISA | 4.41% | 4.20% | 4.23% | Mainly Access accounts, rebalancing towards MLA MLA only Q1 return 16% due to some catch up payments. Static investment level | | Assetz Exchange | 1.33% | 15.09% | 1.89% | Holding at current level and rediversifying as new loans launch. Market has cooled to some extent leading to return from capital growth reducing portfolio value. Stripped out return, incl realised capital gains, is 7% | | Brickowner | 6.95% | 2.09% | 3.05% | In limbo as unable to verify. Profits mostly due at term and somewhat delayed in some cases. Jump due to annual interest payment | | Easymoney | 3.04% | 2.21% | 2.58% | Minimum investment to get perks as rates too low for more. Some cash drag reducing the return, Factor in savings from perks and rate more healthy 5.4% | | Elfin Market | 6.41% | 6.49% | 6.47% | Steady performer. Static | | Fund Ourselves | 24.16% | 12.27% | 14.49% | Best performer on paper but not sure if Ill ever see it. Appalling website & service making it uninvestable. Accrued interest distorts returns. Payout of 3 months PF interest causing massive skew in return | | Landlordinvest ISA | 19.78% | 6.68% | 8.86% | Resolution of default inflating return. Another enforced exit as not really comfortable with higher minimum. Solid platform | | Leap Lending | 0.75 | 1.6% | 1.33% | Just about has a pulse but not quite sure how. Down to less than £10 invested, if they have borrowers they dont want my money even at the lowest rate possible! | | Lendwise | 8.31% | -8.12% | 7.31% | Ticking along, still only a toe dip, looking to see how two non-paying loans are resolved before increasing | | Loanpad | 8.42% | 5.19% | 5.83% | The comfy slippers. Return significantly boosted by referrals | | Moneything | 0.63% | 1.75% | 1.53% | Still scraping a return though few performing loans left. Exiting with a profit despite admin. | | Octopus Choice | 153.43% | 11.54% | 12.7% | Done & dusted. Return distorted by interest being caught up after forbearance | | Onstep | 2.1% | 3.24% | 3.01% | Another eventually to be ex-platform. | | Property Partner | -4.03% | -1.46% | -1.97% | Just letting it run its course, heading the wrong direction again with 5 year exits reducing returns | | Unbolted | 9.24% | 9.25% | 9.23% | Mr Steady, just ticks along doing its thing. Static. | | Uown | 0.99% | 8.01% | 6.55% | Lack of opportunities and significant cash drag, but new project promised so might pick up |
I have residual loans on Funding Secure (effectively out with a profit), Lendy (likely to be a modest loss), Collateral (who knows but it will be painful), and Funding Circle (long exited but pennies from residual defaults) |
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pension, no dependents.
