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Post by gramsky on Jul 24, 2023 19:12:28 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits.
I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex.
I have in the past been in Assetz Capital, Funding Circle and Lendy.
I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully).
I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available.
My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years.
I also feel that I may be over exposed to P2P but don't know where else to put my money.
Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default?
Thank you.
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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
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Post by ilmoro on Jul 24, 2023 19:18:44 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. Should answer your query Also some stats here from about 36m www.youtube.com/watch?v=nmX89gAK3M8
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Post by Ace on Jul 24, 2023 19:50:49 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. I can't tell you whether to invest, but given what you've said, I think it would be a good idea to add new platforms for diversification. I'd say that CP were a similar quality to the first 3 that you mentioned you are currently in (I'm not in relendex, so can't comment on them). There are currently 30 loans due to launch on CP over the next 30 days, so getting your cash well diversified won't be a problem. The average loan length, according to the stats page, is 13 months. CP say that roughly 50% repay early and 50% repay late. There are currently 28 projects over 6 months late. If you want to diversify away from property secured loans, Unbolted might be worth a look (pawn loans). The vast majority of their loans are for 6 months, so should be quicker to run-down.
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archie
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Post by archie on Jul 25, 2023 6:47:49 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. One of the main problems with P2P is the amount of time it takes to retrieve money from a failed platform. It could take 5 years+. I'm not sure how any executor of my estate would have any idea how to unravel the mess. I'm younger than you but gradually moving money to safer options. CrowdProperty and Unbolted are good platforms. As Ace suggests Unbolted should be easier to run down.
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Post by lotus_eater on Jul 25, 2023 12:02:38 GMT
I'll just leave this here and you can make your own mind up. This is my account as of today, 25/07/2023. I wouldn't put another penny with them personally (after almost 4 years of investing with them). I have an XIRR of 5.38% to date and over 70% of my loans delayed as you can see below.  |
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Post by gramsky on Jul 25, 2023 12:22:37 GMT
I'll just leave this here and you can make your own mind up. This is my account as of today, 25/07/2023. I wouldn't put another penny with them personally (after almost 4 years of investing with them). I have an XIRR of 5.38% to date and over 70% of my loans delayed as you can see below. Thanks
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Post by brightspark on Jul 25, 2023 13:23:01 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. I hope that £125k does not represent a significant proportion of your old age provision. P to P is a very risky form of investment. Read the warnings! The risks are two fold. The first risk is that individuals investments do not perform. If you are reasonably knowledgeable and well diversified the risk is shared amongst all the investments - you win some, you lose some and hopefully you come out on top. The second risk is one of platform failure and this is by far the biggest risk. P to P is littered with failed platforms and boy oh boy when they fail they can really fail. Your investment can simply disappear down the plug-hole leaving Administrators i.e. vultures picking over the rotten carcase and charging lenders huge sums of money for the privilege. Ignore all the hype about any plan for recovery in platform failures - it is simply unenforceable window dressing.
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Post by gramsky on Jul 25, 2023 15:11:59 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. I hope that £125k does not represent a significant proportion of your old age provision. P to P is a very risky form of investment. Read the warnings! The risks are two fold. The first risk is that individuals investments do not perform. If you are reasonably knowledgeable and well diversified the risk is shared amongst all the investments - you win some, you lose some and hopefully you come out on top. The second risk is one of platform failure and this is by far the biggest risk. P to P is littered with failed platforms and boy oh boy when they fail they can really fail. Your investment can simply disappear down the plug-hole leaving Administrators i.e. vultures picking over the rotten carcase and charging lenders huge sums of money for the privilege. Ignore all the hype about any plan for recovery in platform failures - it is simply unenforceable window dressing. I agree, I have been caught out in Funding Circle, Assetz Capital and Lendy. But made substantial gains in the first two and under £2k loss in the third so I count myself lucky. Problem is P2P is the only place I have made money and I don't know where else to put it. Shares are a loser, or I could buy gold bullion allocation or there is Premium Bonds.
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SteveK
Member of DD Central
Posts: 63
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Post by SteveK on Jul 25, 2023 15:43:54 GMT
Problem is P2P is the only place I have made money and I don't know where else to put it. Shares are a loser, or I could buy gold bullion allocation or there is Premium Bonds. For safety there are some good savings rates at present - Fixed Rate Bonds paying over 6% and Fixed Rate Cash ISAs paying just under 6%.
For a good rate in a safer P2P then Loanpad has 5% (from 1st Aug) with easy access (can be next day) and 6% (from 1st Aug) for 60 day access. I realise, of course, you may already be aware of the above 2 options and are looking for higher interest rates.
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Post by gramsky on Jul 25, 2023 17:33:48 GMT
For safety there are some good savings rates at present - Fixed Rate Bonds paying over 6% and Fixed Rate Cash ISAs paying just under 6%.
For a good rate in a safer P2P then Loanpad has 5% (from 1st Aug) with easy access (can be next day) and 6% (from 1st Aug) for 60 day access. I realise, of course, you may already be aware of the above 2 options and are looking for higher interest rates.
But then because I still work part-time and have pensions I finish up paying 40% tax on it unless I can get the same rates within an ISA
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Post by Ace on Jul 25, 2023 18:01:02 GMT
I'll just leave this here and you can make your own mind up. This is my account as of today, 25/07/2023. I wouldn't put another penny with them personally (after almost 4 years of investing with them). I have an XIRR of 5.38% to date...It's important to understand that your XIRR will almost certainly rise much higher as your remaining loans repay. This is because your XIRR won't include accrued interest. Many of your loans won't have paid any interest yet as many pay all of their interest when the loan completes. With 70% of your remaining loans overdue there will be a considerable amount of penalty interest to be paid when they do repay. To counter that, there may well be some losses from your defaulted loans, but these are likely to be relatively small due to CP's first charge position in each loan. CP did some quantitative analysis on this at the start of this year that showed that the average, well diversified, portfolio at that time would end up around 7.68% (which included a forecast of likely losses at that time).
... and over 70% of my loans delayed as you can see below.I understand that it can be concerning when you see a large proportion of late loans, but it's an inevitable fact that the proportion will rise during a platform rundown. As loans that repay early are removed from this calculation, the proportion of late loans rises. It's very likely that this will rise to 100% before the final loan concludes. CP have said that roughly 50% of their loans repay early; and 50% late. I have access to a couple of active portfolios (I.e. where repayments are being reinvested); one has 35% overdue, the other has 37% overdue. OK, this is still high, but don't forget that lenders earn an extra 2% on late loans. I went into more detail here: p2pindependentforum.com/post/471176/thread. Hopefully, your XIRR will continue to rise as more loans are settled, and you'll exit with your expected profit. I've documented the rundown of my own standard account here: p2pindependentforum.com/post/451845/thread. This clearly shows the XIRR rising as the account runs down.
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SteveK
Member of DD Central
Posts: 63
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Post by SteveK on Jul 25, 2023 20:01:01 GMT
For safety there are some good savings rates at present - Fixed Rate Bonds paying over 6% and Fixed Rate Cash ISAs paying just under 6%.
For a good rate in a safer P2P then Loanpad has 5% (from 1st Aug) with easy access (can be next day) and 6% (from 1st Aug) for 60 day access. I realise, of course, you may already be aware of the above 2 options and are looking for higher interest rates.
But then because I still work part-time and have pensions I finish up paying 40% tax on it unless I can get the same rates within an ISA The Loanpad rates, above, are both the same in and out of the ISA. The best 2 year Cash ISA rate is 5.9% with NatWest.
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Post by lotus_eater on Jul 26, 2023 9:04:44 GMT
I'll just leave this here and you can make your own mind up. This is my account as of today, 25/07/2023. I wouldn't put another penny with them personally (after almost 4 years of investing with them). I have an XIRR of 5.38% to date...It's important to understand that your XIRR will almost certainly rise much higher as your remaining loans repay. This is because your XIRR won't include accrued interest. Many of your loans won't have paid any interest yet as many pay all of their interest when the loan completes. With 70% of your remaining loans overdue there will be a considerable amount of penalty interest to be paid when they do repay. To counter that, there may well be some losses from your defaulted loans, but these are likely to be relatively small due to CP's first charge position in each loan. CP did some quantitative analysis on this at the start of this year that showed that the average, well diversified, portfolio at that time would end up around 7.68% (which included a forecast of likely losses at that time).
... and over 70% of my loans delayed as you can see below.I understand that it can be concerning when you see a large proportion of late loans, but it's an inevitable fact that the proportion will rise during a platform rundown. As loans that repay early are removed from this calculation, the proportion of late loans rises. It's very likely that this will rise to 100% before the final loan concludes. CP have said that roughly 50% of their loans repay early; and 50% late. I have access to a couple of active portfolios (I.e. where repayments are being reinvested); one has 35% overdue, the other has 37% overdue. OK, this is still high, but don't forget that lenders earn an extra 2% on late loans. I went into more detail here: p2pindependentforum.com/post/471176/thread. Hopefully, your XIRR will continue to rise as more loans are settled, and you'll exit with your expected profit. I've documented the rundown of my own standard account here: p2pindependentforum.com/post/451845/thread. This clearly shows the XIRR rising as the account runs down. I understand you are hot on CP Ace and you have been for a long time, and that's your prerogative. All of the analysis done by CP is bias and irrelevant (in my line of thinking). I just look at facts and experience other P2P platforms I've invested with, and the facts are: my XIRR "is" 5.38% over the prior 4 years (including paid back loans) and 70%+ of loans "are" now overdue. They are the facts after all the talk. When/if I get my money back at all (which is actually my main concern at the moment, I know you say "when they loans pay back" but I'm not as confident as you) then I'll again state the "facts" and give that information too. No offence intended and hopefully my way of thinking makes some sense?
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benaj
Member of DD Central
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Post by benaj on Jul 26, 2023 9:07:48 GMT
I have been into P2Plending for about 8 years …. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. 1. Over exposure? Do you classified yourself as retail investors?< 10% of portfolio in p2p? Are you comfortable with your current commitment in p2p investments? 2. Regarding repayment? Are you looking for steady monthly income? CP loan’s return are more like those to provide growth than steady monthly income and the return is dependent on final repayment/ recovery.
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Post by overthehill on Jul 26, 2023 12:08:02 GMT
P2P platforms with nothing to hide should produce stats for defaults > 1yr, 18months, 2yr etc not just 6 months.
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