max
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Post by max on Jan 31, 2016 10:55:16 GMT
All our data points towards plenty of money waiting to come in to the platform however lenders either find it too complicated to do so (we need to improve our educational material and on site help) or need to see there are a diverse range of loans for them to choose from before they will deposit their funds. I have two suggestions for your points above: 1) Video tutorials on YouTube, please 2) Extend the range of loans offered by AC to unsecured loans - a new ring fenced fund "High Interests Business Account". This strategy is similar to FC opening to higher risk loans on their platform. If appropriately priced, unsecured loans will definitely increase the range of loans on offer. Lenders will have more freedom in building their loan portfolio according to their personal preferences for risk and reward. Indeed, many of us are already doing so by investing in unsecured loans offered by other platforms. So why does AC want to miss this segment of the market?
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SteveT
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Post by SteveT on Jan 31, 2016 12:45:03 GMT
2) Extend the range of loans offered by AC to unsecured loans - a new ring fenced fund "High Interests Business Account". This strategy is similar to FC opening to higher risk loans on their platform. If appropriately priced, unsecured loans will definitely increase the range of loans on offer. Lenders will have more freedom in building their loan portfolio according to their personal preferences for risk and reward. Indeed, many of us are already doing so by investing in unsecured loans offered by other platforms. So why does AC want to miss this segment of the market?That would fundamentally be at odds with the platform's name and core strategy!
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max
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Post by max on Jan 31, 2016 13:20:45 GMT
2) Extend the range of loans offered by AC to unsecured loans - a new ring fenced fund "High Interests Business Account". This strategy is similar to FC opening to higher risk loans on their platform. If appropriately priced, unsecured loans will definitely increase the range of loans on offer. Lenders will have more freedom in building their loan portfolio according to their personal preferences for risk and reward. Indeed, many of us are already doing so by investing in unsecured loans offered by other platforms. So why does AC want to miss this segment of the market?That would fundamentally be at odds with the platform's name and core strategy! Shame. Unsecured loans would bring more offer volume, offer variation and platform scalability. I'm not saying to mix secured and unsecured loans. Keep them in completely separate ring-fenced funds. Let lenders free to allocate their money between the two according to their preferences for risk and reward.
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mikeh
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Post by mikeh on Jan 31, 2016 13:29:36 GMT
At the moment I'm more concerned with getting out of unsecured loans.
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oldgrumpy
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Post by oldgrumpy on Jan 31, 2016 13:45:12 GMT
Considering the amount of work Andrew and Co have to do to force defaulting borrowers actually repay, even when security exists, I cannot foresee AC wanting to become involved in similar toil when only the often worthless Personal "Guarantee" can be pursued.
It is noticeable that many AC lender secured loan rates are very similar to a lot of unsecured loan rates on other platforms.
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Post by oldnick on Jan 31, 2016 13:53:09 GMT
AC already have plenty on their collective plate without having to chase even more ellusive borrowers, or face the inevitable complaints when they stop doing so.
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max
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Post by max on Jan 31, 2016 16:46:21 GMT
All valid points those above. Still it seems quite a missed opportunity to completely dismiss unsecured loans and let FC be the only king of the hill.
AC has a different approach (collective fund w provision) that could be applied to unsecured (less secured?) loans and grab a slice of the market from FC. We lenders can spice up our portfolio adding some less secure but higher interests loans. Everybody wins?
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tomtom
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Post by tomtom on Jan 31, 2016 17:17:00 GMT
All valid points those above. Still it seems quite a missed opportunity to completely dismiss unsecured loans and let FC be the only king of the hill. AC has a different approach (collective fund w provision) that could be applied to unsecured (less secured?) loans and grab a slice of the market from FC. We lenders can spice up our portfolio adding some less secure but higher interests loans. Everybody wins? Why do you want to spice up your portfolio by altering by this site, you could do that by just investing more on FC to your hearts content without involving anyone else ?
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ben
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Post by ben on Jan 31, 2016 19:11:30 GMT
All valid points those above. Still it seems quite a missed opportunity to completely dismiss unsecured loans and let FC be the only king of the hill. AC has a different approach (collective fund w provision) that could be applied to unsecured (less secured?) loans and grab a slice of the market from FC. We lenders can spice up our portfolio adding some less secure but higher interests loans. Everybody wins? I would much rather sites grew the loan book smaller with better quality loans then just going for whatever is out there. Take a quick look at the Rebuilding Society forum and the issues they seem to be having at the moment. If you want to invest in the unsecured loans there is plenty of other options
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