coop
Member of DD Central
Posts: 714 
Likes: 571
|
Post by coop on Feb 19, 2015 10:48:16 GMT
Morning all,
Have just made an account and am considering chucking some money in; just having a snoop around the website.
I have to say my eyes fairly popped out their sockets at 18% interest rates on asset secured loans with reasonable looking LTVs - is there something I'm missing?
Does anyone here have all/mostly 12.5%+ loans on their AC book or would you consider it too risky?
Sorry if this seems negative/lazy on my part but just trying to glean as much as I can before I chuck my hard earned into the proverbial fruit machine. (what?)
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 19, 2015 10:51:54 GMT
The 18% loans are those already defaulted, which have been extended with default rates applying in order to give more time to repay by other finance or achieving planned selling of the assets. These loans may well be frozen already, and the 18% applies to existing lenders who are stuck!!
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Feb 19, 2015 10:53:19 GMT
To get to grips with the history just read a few of the threads on here. Then make your own mind up.
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 19, 2015 10:56:11 GMT
Morning all,
Have just made an account and am considering chucking some money in; just having a snoop around the website.
I have to say my eyes fairly popped out their sockets at 18% interest rates on asset secured loans with reasonable looking LTVs - is there something I'm missing?
Does anyone here have all/mostly 12.5%+ loans on their AC book or would you consider it too risky?
Sorry if this seems negative/lazy on my part but just trying to glean as much as I can before I chuck my hard earned into the proverbial fruit machine. (what?) Hi coop - as others have said, the 18% loans are those that are in default and on which a default level of interest is being accrued. The majority of them have investments paused and you therefore can't invest in them anyway, but not all. Before reading the threads here, I suggest you read the activity update information on the loan pages themselves, and always pay attention to any pink banners at thet top of the loan page that are designed to alert you to issues on a loan.
|
|
|
|
Post by Deleted on Feb 19, 2015 11:35:02 GMT
If it looks too good to be true, it is  |
|
|
|
Post by stuartassetzcapital on Feb 19, 2015 16:25:23 GMT
My loan book average coupon is about 14% and that includes some of the bridges (bought on the open market after default) and the Green Energy Investment Account at 7%.
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 19, 2015 16:45:56 GMT
My loan book average coupon is about 14% and that includes some of the bridges (bought on the open market after default) and the Green Energy Investment Account at 7%. Thanks for sharing that with us Stuart. It's good to know that the AC management still continue to risk their own funds directly in these loans themselves and have something to lose if they don't end well.
|
|
|
|
Post by chris on Feb 19, 2015 20:18:19 GMT
My loan book average coupon is about 14% and that includes some of the bridges (bought on the open market after default) and the Green Energy Investment Account at 7%. Thanks for sharing that with us Stuart. It's good to know that the AC management still continue to risk their own funds directly in these loans themselves and have something to lose if they don't end well. Me too, me too! I'm also earning a little over 14% on my portfolio. I know other directors also invest via the platform.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 19, 2015 20:28:19 GMT
Original Post removed. 14% is impressive when nearly everything is 9.75-12%. Some people must be holding a lot of default "shares". I'm only on 11.4%, and the plumber may well spoil even that.  |
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Feb 19, 2015 20:45:12 GMT
Original Post removed. 14% is impressive when nearly everything is 9.75-12%. Some people must be holding a lot of default "shares". I'm only on 11.4%, and the plumber may well spoil even that. I'm currently showing 15.4%. Draw your own conclusions 
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Feb 19, 2015 21:07:00 GMT
Original Post removed. 14% is impressive when nearly everything is 9.75-12%. Some people must be holding a lot of default "shares". I'm only on 11.4%, and the plumber may well spoil even that. I'm currently showing 15.4%. Draw your own conclusions You surely must like living on the edge - I'm impressed ;-) I was at 12.8%, but have re-balanced to spread the risk better - now down at 12.5% and feeling more comfortable.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Feb 19, 2015 21:23:51 GMT
I do have more than my share of movable stuff on smaller loans at 9.75% - 11% waiting to be reallocated to better things when they appear! Plumber man had plenty of that too - registering at 12% on my account, no doubt. I'm out of several of the high rate defaulters - but got caught by him!!
|
|
|
|
Post by pepperpot on Feb 19, 2015 21:33:49 GMT
Just so grumpy doesn't feel left out, I'm at 11.34%, but then again my cautious approach means I don't have any Plumber. (sorry grumps, I give with one hand and then throw in a sneaky left hook with the other  ) |
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Feb 19, 2015 21:53:21 GMT
I am at 16.28% and that tells its own story. The remnants of a significant holding following a dumping operation. Now stuck with six suspended loans and a load of owed interest and at the current rate of resolution probably for a long time to come!
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Feb 19, 2015 22:16:01 GMT
I'll chip in at 11.76%. Fortunately got out of most of the (I think) dodgers although they may come good - time will tell. Only got a tiny amount in a default. Plenty of accrued interest which mentally I've written off.
Problem is trying to get the money reinvested in the platform. Have had a tidy four figure sum waiting to invest which will probably increase to an unhealthy five figure idle money when one of the loans repays during the next 2-3 weeks. Maybe one of the upcoming loans that I've targeted will be father christmas.
|
|
)