14 days to go

I didn't get in that early, so I have two months before my first loan comes to term.  I'd therefore be most interested to learn what happens with that first loan.

Does the borrower have the option to 'roll over' the loan in the event of non-redemption?

Further to the above, one of the conditions for rolling over a loan is the need to pay the fees and interest accrued to that point.  I don't know the sizes of the various loans involved, but with loans of less than £15k the fee is about 2%/month, so after including the interest the borrower would have to come up with a payment of nearly 20% of the amount of the loan in order to roll it over.

Whether the original lenders would be happy to roll the loan forward is a good question.  Some lenders might be counting on having the proceeds from these loans available so they have funds to settle their tax bills due on 31/Jan.  Not that it probably makes a lot of difference whether old lenders continue or not -- there have been enough new lenders joining FS in the last six months that there probably would be no problem funding rollovers from new lenders' funds.

Yup, the loan has been repaid in full, yeay!

No cheers are not in order IMO as you need to be able to roll what is now dead money into something else. I'll hang around and see what happens over the next month otherwise will look elsewhere - after my existing loans have matured.

I've had money sitting in my account since before Christmas because I was expecting the second art loan to show up.  I'm a bit disappointed it hasn't, and nothing else has either.  When I have enough history to try to calculate my actual return, it will be interesting to see how far short of the typical 13% rate on the loans I have managed to get a part of.  I'm prepared for my achieved return to be quite disappointing, but sure I hope the dearth of investment opportunities improves very soon.  No doubt FS do as well!

I expect FS have it on their Wish List, but one thing that would help considerably would be the ability to fund an account very quickly, rather than having to deposit funds in advance of them being needed because deposits seem to need manual handling before being credited to lenders' accounts.  An arrangement with GoCardless such as Assetz and SS have, or an arrangement such as Zopa have so that FP'd funds become available in a lender's account very quickly without manual intervention, would be a major improvement and really would help minimise the impact of idle funds on lenders' actual returns.

Minor correction  :

"One loan now has 6 days to go, and two three others 8 days, so the default recovery may soon be tested."