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Post by GSV3MIaC on Sept 11, 2015 16:15:27 GMT
Au revoir then Stevet .. been fun while it lasted. Will we be seeing you over at Lending Crowd? I'll certainly be taking a look. Why do you like it (over some the more established alternatives)? Not sure that I do, but it's worth a look. I know what the downsides are with most of the others, this one's downsides are so far unknown!
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jonah
Member of DD Central
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Post by jonah on Sept 11, 2015 19:07:22 GMT
Yes it does and it appears that there are no plans to change. You can achieve more diversity through their "TLC" product (ThinCats Lending Club) which spreads your investment across (typically) 10 loans (more as funds are reinvested). I started off with TLCs but fairly soon decided to invest directly instead. Things you need to be aware of with TLCs include: - they issue a new TLC roughly once a month - some pay a 7% running yield with the balance at maturity, others roll up and pay all interest at maturity - there is a 0.5% pa admin charge, taken at maturity - there may be significant dead time while the TLC invests its funds - there may be some risk of adverse selection in loans (unproven) - information on their performance is not as timely or reliable as it should be (one of the things that I hope the new hires will sort out) - partly as a result, secondary market liquidity is poor and you may not get full value if you sell. I'm rather expecting that TC will launch a new "mass market" investment product to replace TLCs, before ISAs come on stream. I thought I'd read somewhere about the end of TLCs something about a change in platform. I must admit TC seems a little too 'expert mode' for me so haven't looked to hard.
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bjorn
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Post by bjorn on Sept 19, 2015 8:20:20 GMT
I signed up with Fermented Cabbage as my first p2p platform a couple of months ago and I probably wouldn’t have bothered looking elsewhere until the fixed rate announcement. Now I’d like to try other platforms. I’m looking to try to get something similar to what I was getting with FC i.e., 9-10% (or higher) net return with a good level of diversification and decent liquidity. From first glance, other platforms seem to offer one or two of those criteria but not all of them. In what order would you guys rank other platforms (based on the above plus general recommendation/experience)? Top candidates on my radar are SS, FS, AC and ReBS. If by "decent liquidity" you mean a dynamic SM then FS is no good as they don't have one. That said, I'd recommend both MT and FS as part of a diversified portfolio (the loans on both are only 6 months). SS probably top of the list given your criteria with AC next (if they ever manage to bring forward the new loans in the pipeline, but you can build slowly via the SM in the meantime). ReBS is a good way to get frustrated veeeery slooooowly. How about Ablrate? Other than asset type diversification, it seems like it would only make sense to add Ablrate as well as SS, if you could get better rates than SS. Just signed up to have a look at what they have and it looks like you'd be depending on new loans at 12%+ since no-one's selling anything at that level on the SM.
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SteveT
Member of DD Central
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Post by SteveT on Sept 19, 2015 8:42:32 GMT
If by "decent liquidity" you mean a dynamic SM then FS is no good as they don't have one. That said, I'd recommend both MT and FS as part of a diversified portfolio (the loans on both are only 6 months). SS probably top of the list given your criteria with AC next (if they ever manage to bring forward the new loans in the pipeline, but you can build slowly via the SM in the meantime). ReBS is a good way to get frustrated veeeery slooooowly. How about Ablrate? Other than asset type diversification, it seems like it would only make sense to add Ablrate as well as SS, if you could get better rates than SS. Just signed up to have a look at what they have and it looks like you'd be depending on new loans at 12%+ since no-one's selling anything at that level on the SM. I invest with Ablrate too but at a modest level currently as there are so few loans coming through. Rates range from 14% (on the recent container loans) down to 10%, with even lower rate / lower risk deals occasionally mooted to less than enthusiastic response. What most AR members are hoping may return is a flow of aircraft leasing loans at 12%+ but that seems some way off at the moment (perhaps just the other side of the rainbow?). The good thing about AR is that the SM is pretty well designed and you can sell down stakes in most loans provided you list at the "market price". The fact that the higher rate (14% / 12%) loans are selling at a premium on the SM reflects the lack of new loans at those rates ...! As with SS, most AR loans these days have "Instant Returns", so you're earning money immediately. A benefit over SS is that you can list parts for sale on the SM without losing interest. There are no fees for buying or selling. If you've any questions, ablrateandy is your man!
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nick
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Post by nick on Sept 19, 2015 14:47:48 GMT
How about Ablrate? Other than asset type diversification, it seems like it would only make sense to add Ablrate as well as SS, if you could get better rates than SS. Just signed up to have a look at what they have and it looks like you'd be depending on new loans at 12%+ since no-one's selling anything at that level on the SM. I invest with Ablrate too but at a modest level currently as there are so few loans coming through. Rates range from 14% (on the recent container loans) down to 10%, with even lower rate / lower risk deals occasionally mooted to less than enthusiastic response. What most AR members are hoping may return is a flow of aircraft leasing loans at 12%+ but that seems some way off at the moment (perhaps just the other side of the rainbow?). The good thing about AR is that the SM is pretty well designed and you can sell down stakes in most loans provided you list at the "market price". The fact that the higher rate (14% / 12%) loans are selling at a premium on the SM reflects the lack of new loans at those rates ...! As with SS, most AR loans these days have "Instant Returns", so you're earning money immediately. A benefit over SS is that you can list parts for sale on the SM without losing interest. There are no fees for buying or selling. If you've any questions, ablrateandy is your man! So AR doesn't sound particularly interesting for now. Any experience of actively playing on FK. Their platform looks ok and I like the summary bid/ask price info for loans on the secondary market, although I can easily see this putting off some less sophisticated investors. However, the originated volume is still low so I imagine liquidity and low activity in the SM being an issue? My only comparatives are RebS, FC and SS (although there on no longer any active way to enhance the 12% SS return now cash back has become extinct).
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Post by bollidear on Sept 22, 2015 18:29:36 GMT
Like a bubonic rat leaving the FC ship - I'm now on board with LC with my £100 bonus and more inbound with referrals to fellow FC dis-illusionists. I'm a happy chappy, had my intro phone call and worked my way around the site in a few minutes.
I agree with the concept of keeping things easy on LC and now Samir, the time vampire, has been vanquished from my life - I'm enjoying the freedom!
Early days - but so far so good and a well rounded start-up for the new kid on the block. Get in quick though - only a week to go to get the £100 bonus that is credited the moment you invest your £1k. PM me and I'll refer you so we can both get £50.....
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stevio
Member of DD Central
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Post by stevio on Sept 22, 2015 20:13:49 GMT
Like a bubonic rat leaving the FC ship - I'm now on board with LC with my £100 bonus and more inbound with referrals to fellow FC dis-illusionists. I'm a happy chappy, had my intro phone call and worked my way around the site in a few minutes. I agree with the concept of keeping things easy on LC and now Samir, the time vampire, has been vanquished from my life - I'm enjoying the freedom! Early days - but so far so good and a well rounded start-up for the new kid on the block. Get in quick though - only a week to go to get the £100 bonus that is credited the moment you invest your £1k. PM me and I'll refer you so we can both get £50..... Who are LC?
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bjorn
Posts: 102
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Post by bjorn on Sept 22, 2015 20:16:49 GMT
Like a bubonic rat leaving the FC ship - I'm now on board with LC with my £100 bonus and more inbound with referrals to fellow FC dis-illusionists. I'm a happy chappy, had my intro phone call and worked my way around the site in a few minutes. I agree with the concept of keeping things easy on LC and now Samir, the time vampire, has been vanquished from my life - I'm enjoying the freedom! Early days - but so far so good and a well rounded start-up for the new kid on the block. Get in quick though - only a week to go to get the £100 bonus that is credited the moment you invest your £1k. PM me and I'll refer you so we can both get £50..... Who are LC? LendingCrowd. There's a thread on them here: p2pindependentforum.com/thread/2619/lending-crowdand hopefully a board starting soon.
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Post by goldservice on Sept 23, 2015 8:05:10 GMT
I'm finding that as I transfer out each chunk of £5k, it appears in my bank account in less than 24 hours - usually overnight and before 09:00 - Fulsome Credit for this Financial Celerity! Perhaps they're just glad to see me go  |
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SteveT
Member of DD Central
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Post by SteveT on Sept 23, 2015 8:23:37 GMT
I'm finding that as I transfer out each chunk of £5k, it appears in my bank account in less than 24 hours - usually overnight and before 09:00 - Fulsome Credit for this Financial Celerity! Perhaps they're just glad to see me go Yes, their transfers out seemed to speed up a few weeks back. I find that transfer out requests made before about 5pm / 6pm usually are in my account the following morning. However requests made over the weekend seem not to be dealt with until Monday, so arrive Tuesday along with any Monday requests.
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adrianc
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Post by adrianc on Sept 23, 2015 13:13:50 GMT
Right now, I'm thinking today's RBR might be my final straw as far as FC is concerned. About a quarter of my holding is property - I'm not worried about them defaulting - and the rest is almost entirely above that in rate. It should all sell easily, maybe even at a premium.
Come the introduction of the new fixed rates, I think it's all going on the market, and we'll see what happens.
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SteveT
Member of DD Central
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Post by SteveT on Sept 23, 2015 13:33:43 GMT
Right now, I'm thinking today's RBR might be my final straw as far as FC is concerned. About a quarter of my holding is property - I'm not worried about them defaulting - and the rest is almost entirely above that in rate. It should all sell easily, maybe even at a premium. Come the introduction of the new fixed rates, I think it's all going on the market, and we'll see what happens. I've got rid of almost 20% of my Foetid Crustaceans loan book already (since the day of the announcement), all at good premiums averaging something around 1.5%.
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arbster
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Post by arbster on Sept 23, 2015 14:06:03 GMT
Right now, I'm thinking today's RBR might be my final straw as far as FC is concerned. About a quarter of my holding is property - I'm not worried about them defaulting - and the rest is almost entirely above that in rate. It should all sell easily, maybe even at a premium. Come the introduction of the new fixed rates, I think it's all going on the market, and we'll see what happens. Which RBR did you get stung by? I got my first today (9926) which I probably bought off someone on this forum the early days of my hurried diversification process.
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registerme
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Post by registerme on Sept 23, 2015 14:09:53 GMT
I have £36 of that......
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arbster
Member of DD Central
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Post by arbster on Sept 23, 2015 14:48:23 GMT
Yeah, I don't get the feeling we'll see any of it again.
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