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Post by GSV3MIaC on Mar 15, 2016 18:09:14 GMT
I'd rate the RS platform as one of the safer, yes, but still not safe enough for 'main home for emergency funds' (IMO) .. liquidity still requires there to be a buyer to buy you out, and the risk of loss is only mitigated by the PF, not eliminated.
Stocks/shares are definitely well down the pecking order (almost all the time), but then so are most of the other P2P platforms. First port of call for me would be a cash account (ISA or not .. the balance just changed for some). FC, which is the forum we are currently on, wouldn't make top ten probably, although property loans may not be too far off .. unless/until the property bubble bursts (would Brexit do that, one wonders?).
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jayjay
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Post by jayjay on Mar 15, 2016 19:15:41 GMT
If I was to go for an IFISA it would be RS or possibly Z. I am going to bed and ISA shares so it is not really an investment decision to go for a S&S ISA. The platform risk is a real problem with p2p as if you need to exit rapidly (and it is possible) you would loose ISA allowance. I can exit shares without exiting the platform. There is not an umbrella ISA for multiple p2p's.
On top of all that there is a new dividend tax due to start April 5 so it pays to get more dividend income out of tax that it did not before.
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SteveT
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Post by SteveT on Mar 16, 2016 14:47:20 GMT
First cashback of 2016: 21294 (but it needs it; £407k A 12 months at only 8% ?!)
[Begs the obvious question why, if the original financing was A+ 8%, the downgrade to A on the refinance has had no impact on the rate]
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Post by takeshi on Mar 16, 2016 15:00:09 GMT
First cashback of 2016: 21294 (but it needs it; £407k A 12 months at only 8% ?!) You'd think 21243 (402K A 12 months) - 57% filled will now struggle to fill? But they need 21243 - to refinance 11250 - which is already a week late for being repaid? I've been with FC for a couple of years now - but only recently been following the detail - I can't say I'm impressed, it's as if there's no planning or strategy?
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treeman
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Post by treeman on Mar 16, 2016 16:58:04 GMT
Right - 1% really doesn't do it.
Maybe a sign of a change in the wind ?
Godalming 4 (just listed) should be another candidate.
First 2 tranches both had 2% CB Nov 2015.
3rd went WL in Jan.
This one's just the straight 8%............
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happy
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Post by happy on Mar 16, 2016 17:41:19 GMT
First cashback of 2016: 21294 (but it needs it; £407k A 12 months at only 8% ?!) [Begs the obvious question why, if the original financing was A+ 8%, the downgrade to A on the refinance has had no impact on the rate] I was about to ask a similar question myself. The current state of property loan rates seems to have got as unhinged as the SME loan bands. How can Fudging Constantly have a fixed rate risk banding system when loan offers in different risk bands get offered at the same rate? What is the poing of risk bands I ask. I do understand that bridge loans have typically been at 10% but I am sure that A development loans always ussd to be at 9% minimum (+ CB a lot of the time) . Is this just Flipping Careless just sticking a couple of digits in the air at any investors that cares what they are buying as I'm sure autobodge will happily buy A loans at 8% all day. I think if this carries on I will reconsider my new strategy to keep investing in FC property only for platform diverification, particularly when I now see we have completed development refinance loans that are effectively 12 month bridge loans going out at 8% as well, e.g. 21243, perhaps showing the future rates for FC bridging loans. Seems to me that Fighting Cocks is in a race to the bottom in their bid for world domination, problem is I don't feel this journey is going to be much fun!
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am
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Post by am on Mar 16, 2016 18:47:00 GMT
The rule seems to be that bridging loans are rated as A, but if they are refinancing a previous property development loan they're listed as the same rate as the property development loan. Hence A-rated loans at 8%.
In the case of this one there's an equity release element, which would be an arguable justification for a rate increase. Additionally the investment report gives the GDV of the original project as £2.4m, and the current valuation as £3.9m. The valuation of the retail element strikes me as rich, but I do hear that London yields are low. I don't know offhand what reasonable values are for London flats.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Mar 16, 2016 19:58:36 GMT
The platform risk is a real problem with p2p as if you need to exit rapidly (and it is possible) you would loose ISA allowance. . Not if it's a Flexible ISA, and I imagine all or most ISAs will be flexible otherwise they won't attract much funding.
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happy
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Post by happy on Mar 16, 2016 20:10:32 GMT
The rule seems to be that bridging loans are rated as A, but if they are refinancing a previous property development loan they're listed as the same rate as the property development loan. Hence A-rated loans at 8%. In the case of this one there's an equity release element, which would be an arguable justification for a rate increase. Additionally the investment report gives the GDV of the original project as £2.4m, and the current valuation as £3.9m. The valuation of the retail element strikes me as rich, but I do hear that London yields are low. I don't know offhand what reasonable values are for London flats. Thanks for the perspective am. Yes I did not feel totally comfortable with this one, felt they were pulling a bit of a fast one personally. I also think that the headline LTV against GDV looks good on most development deals offered recently but if you look at LTV against underlying property/land values (where you can see these easily) these development loans particularly around the London development hotspots would look quite scary in the context of a property downturn and development slump. Certainly avoiding most +12 month London developments ATM.
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ilmoro
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'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 Mar 16, 2016 20:15:46 GMT
The platform risk is a real problem with p2p as if you need to exit rapidly (and it is possible) you would loose ISA allowance. . Not if it's a Flexible ISA, and I imagine all or most ISAs will be flexible otherwise they won't attract much funding. Not sure thats a valid conclusion. I would expect most ISA wont be flexible. Certainly that is true of cash ISA as majority of mainstream providers have stated they wont be offering them.
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metoo
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Post by metoo on Mar 16, 2016 20:35:35 GMT
Not if it's a Flexible ISA, and I imagine all or most ISAs will be flexible otherwise they won't attract much funding. It will be a Flexible ISA according to the FAQ.
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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 Mar 16, 2016 20:41:13 GMT
Not if it's a Flexible ISA, and I imagine all or most ISAs will be flexible otherwise they won't attract much funding. It will be a flexible ISA according to the FAQ. Apologies missed that. Not really considering FC so not fully read up
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jayjay
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Post by jayjay on Mar 17, 2016 9:29:58 GMT
The platform risk is a real problem with p2p as if you need to exit rapidly (and it is possible) you would loose ISA allowance. . Not if it's a Flexible ISA, and I imagine all or most ISAs will be flexible otherwise they won't attract much funding. In a platform crisis I anticipate you may well have a chance to grab your cash and run - if you fill out ISA transfer forms it takes weeks. I would opt for the former and hence loose my ISA allowance. ISA's and their flexibility were designed for the more sedate world of the savings account. This is what I mean.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
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Post by andyp on Mar 17, 2016 12:43:28 GMT
Hendon 10 is looking a bit fragile, despite being smallish. I wonder if it'll come back at a higher rate, or maybe some of that missing CB? Hendon 10 has just disappeared from the live listings. It had less than 24hrs to go and hadn't reached 70% filled when I looked earlier this morning. Cashback anyone?
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Mar 17, 2016 12:49:48 GMT
Hendon 10 is looking a bit fragile, despite being smallish. I wonder if it'll come back at a higher rate, or maybe some of that missing CB? Hendon 10 has just disappeared from the live listings. It had less than 24hrs to go and hadn't reached 70% filled when I looked earlier this morning. Cashback anyone? Cash-back is BACK!!!
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