ethel
Posts: 118
Likes: 154
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Post by ethel on Jul 13, 2022 15:50:53 GMT
I wouldn't touch Crowdstacker with a bargepole based on my previous experience of them.
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Post by Ace on Sept 14, 2022 21:12:16 GMT
There are two new property development loans available on Crowdstacker. Both are mezzanine loans paying 15%. One will be subordinate to an upcoming first charge loan on CapitalRise.
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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
Posts: 10,848
Likes: 11,077
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Post by ilmoro on Dec 15, 2022 22:45:46 GMT
Crowdstacker PDLs seem to be increasingly uninvestable ... seem to be either prolonged cash drag as start date is delayed or they dont go ahead. So far out of 8 loans, 1 has started on time, 1 started late, 4 have not gone ahead, some after delays in not starting, other two are delayed, though 1 is paying interest on delay. Oh & the loan that did go ahead but late promptly repaid nearly half the loan 10 months early. Seems to be a fairly flawed offering ... and thats without even seeing if the loans dont go bad Ace whats your experience like ... loans seem to be much slower to fund than when first started
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Post by Ace on Dec 15, 2022 23:25:35 GMT
Crowdstacker PDLs seem to be increasingly uninvestable ... seem to be either prolonged cash drag as start date is delayed or they dont go ahead. So far out of 8 loans, 1 has started on time, 1 started late, 4 have not gone ahead, some after delays in not starting, other two are delayed, though 1 is paying interest on delay. Oh & the loan that did go ahead but late promptly repaid nearly half the loan 10 months early. Seems to be a fairly flawed offering ... and thats without even seeing if the loans dont go bad Ace whats your experience like ... loans seem to be much slower to fund than when first started I've invested in most of the PDLs. I haven't measured the same stats that you've mentioned, and it's not an easy task to create them from here. I have had a few loans successfully run their course. One ran quite late (about 6 months I think), but they did increase the rate from 10% to 15% for the extended period. I can concur with all you've mentioned, but my gut feel is that I've had a smaller proportion of the problems than you have. Cash drag is definitely a problem, but the slower filling of loans has made that less so. It used to be that you needed to commit to a loan as soon as it was released to get a chunk, which guaranteed at least 1 month cash drag. The slower filling of loans means that you can now wait until it's much closer to its start date before committing. The cash drag is obviously much worse for short duration loans. E.g. a 6 month 15% loan with 1 month extra cash drag reduces the XIRR from 15.56% to 13.20%. Whereas an 18 month 15% loan with 1 month cash drag reduces the XIRR from 14.48% to 13.67%. These assume no other cash drag, which won't be the case, see next paragraph. One of the biggest bugbears on CrowdStacker for me is their incredibly slow transaction times. It seems to take them around 4 days from a loan ending to getting the cash in my account, and they quote an utterly ridiculous 8 business days for withdrawals to be actioned (much worse than any other platform I'm aware of. Even platforms in rundown are much quicker than this) and they do take all of that time.
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Post by Ace on Sept 29, 2023 13:21:02 GMT
I've just had a repayment for a PDL loan on Crowdstacker (N*w R**d). 15% for the first 9 months, then 22.5% during a couple of months overrun. We'll done Crowdstacker.
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Post by Chimponaughty on Oct 3, 2023 5:20:05 GMT
New PDL just launched D***r R**d £362k 21mths 16%
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Post by Chimponaughty on Oct 8, 2023 15:26:44 GMT
New PDL just launched F*******k L**e £280k 18mths 16%
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Post by Chimponaughty on Mar 6, 2024 12:58:14 GMT
New PDL launched yesterday H*****r R**d (north London) £260k 9 mths 15%
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Post by Chimponaughty on Mar 18, 2024 18:49:19 GMT
New PDL launched Yeo Vale (Devon) £200k 6 mths 16%
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Post by Chimponaughty on Apr 11, 2024 11:07:51 GMT
This morning, I emailed Crowdstacker about transferring P2P standard account current loan investments into your IFISA. Their reply was rapid, detailed, informative, and helpful...
We have been in discussions with HMRC since the launch of the Innovative Finance ISA to work out a method of transferring your P2P loan to your IFISA. Although it is allowed, the guidance has proved challenging to work out a solution that is easy for an investor and our current solution would require you to fund your Innovative Finance ISA with an amount totalling the investment amount of the P2P loan you want to transfer.
Below are the steps that are required:
1. You would need to fund your Innovative Finance ISA with new subscriptions or with a transfer from an existing ISA of an amount equal to your current Peer to Peer loan that you wish to transfer.
2. You would need to place your P2P loan up for sale on our secondary market and then request to purchase your loan back, and hold this in your Innovative Finance ISA.
3. You will effectively be selling your loan to your Innovative Finance ISA and the proceeds would be paid out to your peer to peer account and then paid out to the bank account linked to the account.
The concern we have with this option is that it is possible that you will lose your investment to another investor as there are currently over ###### active investors registered for the secondary market. Of course, if this is still your preferred course of action we will administer this for you, but we felt it necessary to reiterate the risks of doing so.
Once you have had the opportunity to review the options, please let me know and I will help you through the next steps.
I hope this helps with your enquiry, however if you have any further questions please do not hesitate to contact me and I will endeavour to respond as soon as possible.
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qwakuk
Member of DD Central
Posts: 241
Likes: 90
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Post by qwakuk on Apr 11, 2024 11:22:19 GMT
Also looking at Crowdstacker as a potential IFISA route
Seems the ISAs are not flexible ?
Presumably I need funds on the platform before trying to invest and cannot initiate the transfer afterwards (CapitalRise allow you to invest and send in a ISA transfer form at the same time)
Was hoping this would help with the cash drag issue which stopped me investing in the standard account
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Post by Chimponaughty on Apr 23, 2024 13:15:08 GMT
New PDLs
Chalkwell Avenue £388k 14 mths 17%
Upper Bond Street £422k 12 mths 16%
High St Odiham £169k 10 mths 13%
(High St Odiham is NOT available on Loan Pledge)
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Post by captainconfident on Apr 24, 2024 17:40:32 GMT
New PDLs Chalkwell Avenue £388k 14 mths 17% Upper Bond Street £422k 12 mths 16% High St Odiham £169k 10 mths 13% (High St Odiham is NOT available on Loan Pledge) I'm vaguely cross with myself for stopping investing with Crowdstacker at the point they went into real estate. 15% was an alarm bell interest rate after Lendy etc and I took my bargepole away. But it seems like they have chosen these loans carefully over the last years. Anyone know what their track record is since the change?
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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
Posts: 10,848
Likes: 11,077
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Post by ilmoro on Apr 24, 2024 18:57:53 GMT
New PDLs Chalkwell Avenue £388k 14 mths 17% Upper Bond Street £422k 12 mths 16% High St Odiham £169k 10 mths 13% (High St Odiham is NOT available on Loan Pledge) I'm vaguely cross with myself for stopping investing with Crowdstacker at the point they went into real estate. 15% was an alarm bell interest rate after Lendy etc and I took my bargepole away. But it seems like they have chosen these loans carefully over the last years. Anyone know what their track record is since the change? Seems ok ... few extensions on my loans so far but no major issues www.crowdstacker.com/loan-performance (not that helpful as only annual updates)
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Post by Ace on Apr 24, 2024 18:58:48 GMT
New PDLs Chalkwell Avenue £388k 14 mths 17% Upper Bond Street £422k 12 mths 16% High St Odiham £169k 10 mths 13% (High St Odiham is NOT available on Loan Pledge) I'm vaguely cross with myself for stopping investing with Crowdstacker at the point they went into real estate. 15% was an alarm bell interest rate after Lendy etc and I took my bargepole away. But it seems like they have chosen these loans carefully over the last years. Anyone know what their track record is since the change? I'm in most of the PDLs. I've had 13 repay so far. All of those have paid at least what was promised. Many have repaid late (very normal for PDLs), but some of those have paid even higher interest during the extension period. I'm satisfied with the performance and will be adding ISA funds this year to take advantage of the new ISA freedoms. My main annoyances are: ISA isn't flexible, it can take a week for withdrawn funds to hit my bank account, cash drag is often an issue before the loan starts, I've had quite a few that didn't go ahead, so no interest for the period that funds were tied up for.
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