SteveT
Member of DD Central
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Post by SteveT on Apr 1, 2016 13:10:04 GMT
Moneything
Ablrate
Assetz Capital
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registerme
Member of DD Central
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Post by registerme on Apr 1, 2016 13:46:19 GMT
Moneything Ablrate Assetz Capital Sssshhhhh!
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Post by GSV3MIaC on Apr 1, 2016 14:37:24 GMT
Too many of us jumping ship!! - I see Free Computers are now offering a free iPad if you will just transfer, and lend out, an extra £30k by 16/May. They suggest using the SM, so that should help sales (no way you are going to get a diversified holding in decent companies in 6 weeks any other way. Or probably even not at all).
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kt
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Post by kt on Apr 1, 2016 15:24:41 GMT
Too many of us jumping ship!! - I see Free Computers are now offering a free iPad if you will just transfer, and lend out, an extra £30k by 16/May. They suggest using the SM, so that should help sales (no way you are going to get a diversified holding in decent companies in 6 weeks any other way. Or probably even not at all). Bit late for April fools 
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kaya
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Post by kaya on Apr 1, 2016 15:26:08 GMT
With the level of institutional investors I feel that FC no longer cares for or about individual investors. Each is merely a drop in the ocean of the money invested by IVs. Aww no! I thought that they cared about me! Just like the bank does.
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kt
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Post by kt on Apr 1, 2016 15:46:03 GMT
I certainly never intended to imply that they cared about anyone specifically, rather that they cared enough about the class (retail) of customer. Moreover that their business depended enough on that class of users for them to care.
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Post by GSV3MIaC on Apr 2, 2016 16:11:43 GMT
kt .. I think your sarcasm detector failed to go off there, or maybe kaya just overloaded it.... 8>. (And I think the sarcasm was aimed at Failing Customers, rather than you). I agree with the sentiments though .. FC, having bootstrapped its business with small (and larger) retail lenders, variable rate auctions, etc. now has the tiller hard over towards the institutional, investment trust, 'homogenised loan' business. Anyone who wants to know what the borrower wants it for, wishes to pick and choose who they lend to, and believes some borrowers should go away empty handed, is no longer well served by FC (motto: 'Serves you Right' ?).
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Post by davee39 on Apr 2, 2016 19:35:13 GMT
The FC lending model does not work. Autobid money is heavily skewed to the dross ignored by manual bidders, and while institutions can send rejects to the the retail market, the reverse does not apply.
The average manual investor does not have the skills needed to appraise loan requests, while the sophisticated clued-up investor has insufficient information. Too many loans are failing early suggesting that the reason for loan is pure fiction and FC is an easier touch than the Banks for staving off bankruptcy.
The next 'improvement' will be to remove individual choice completely creating a pooled product, which might aim for a return of around 7% without protection, or more radically introduce a provision fund.
I have no need to jump ship, it is sinking so fast that with water round my ankles I can just swim away.
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metoo
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Post by metoo on Apr 2, 2016 20:00:34 GMT
I have no need to jump ship, it is sinking so fast that with water round my ankles I can just swim away. Which rafts will you swim to?
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SteveT
Member of DD Central
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Post by SteveT on Apr 2, 2016 20:22:06 GMT
The next 'improvement' will be to remove individual choice completely creating a pooled product, which might aim for a return of around 7% without protection, or more radically introduce a provision fund. It already exists in Funding Circle SME Income Fund Ltd (their investment trust).
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Post by davee39 on Apr 3, 2016 10:08:31 GMT
I have no need to jump ship, it is sinking so fast that with water round my ankles I can just swim away. Which rafts will you swim to? Assets GBBA account - 7% plus provision fund, no fees and quick access P2P Global investment trust - 7% and possible capital growth if losses are less than expected Zopa+ is new with an untried risk profile but offers a similar return to FC with a lot less effort I am keenly anticipating the Hargreaves Lansdown P2P due later this year. I expect rates to be around 5%, but backed by an FTSE 100 company. This will be my ISA choice Stevet: The buy sell spread on P2P Global is only 0.5%, so that needs to be added to the dealing cost & stamp duty For FC the spread is currently 5.1%, making the trust an unattractive proposition. I was thinking along the line of a Zopa style pool
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kaya
Member of DD Central
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Post by kaya on Apr 3, 2016 11:11:23 GMT
I certainly never intended to imply that they cared about anyone specifically, rather that they cared enough about the class (retail) of customer. Moreover that their business depended enough on that class of users for them to care. Be assured, kt, I was thinking of the good folks at FC, though was aware of a certain (unintended) possible confusion. So is everyone jumping ship then? What's wrong with everyone, are these lovely techno-toys on offer not good enough for you?
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Post by Deleted on Apr 4, 2016 20:44:18 GMT
Left a while ago, not regretting it for one second. Other sites provide better returns and a better service. Keep your ipad toys  , you could buy several for the extra interest you get elsewhere. |
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blender
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Post by blender on Apr 4, 2016 21:41:14 GMT
They promised me an ISA, but when the time came it had turned into an i-toy.
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Post by goldservice on Apr 8, 2016 11:29:53 GMT
This rat is still perched on the gunwales of the Frail Craft but wants to jump. Suppose you hold a chunk of RS and SS already and you want to lend on a third site which shares some virtues with RS and SS, which site would you choose? If people suggest up to three sites in decreasing order of preference, then I’ll summarise. Time's up, folks. And the winner of 'preferred companion to RS and SS and replacement for Formerly Cost-effective' seems to be ... 'Sssshhhh'
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, you could buy several for the extra interest you get elsewhere.
