andyb
Posts: 69 
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Post by andyb on Sept 1, 2016 6:23:12 GMT
hi all,
i have eave accounts with RS (for the bonus) FC (no money currently in it) and SS.
I have ate had enough of SS and after today's interest payment will be fully winding down there, I just have a gut feeling that the milk is going to turn sour there.
im looking for a new platform that doesn't require and DD but still offers 8-10% with a good flow of loans and a secondary market just in case I need to bail. Is there anywhere that does this?
Also so what is the average rate you are getting from FC after fees and bad debt, do you think FC would match my requirements ?
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archie
Posts: 1,866
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Post by archie on Sept 1, 2016 6:51:50 GMT
You could look at BondMason, they target 7%, haven't tried it myself.
I like MoneyThing.
I've withdrawn from FC, as far as possible.
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andyb
Posts: 69
Likes: 36
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Post by andyb on Sept 1, 2016 6:54:00 GMT
You could look at BondMason, they target 7%, haven't tried it myself. I like MoneyThing. I've withdrawn from FC, as far as possible. Can I ask your reasons for leaving FC ? regards Andy
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SteveT
Member of DD Central
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Post by SteveT on Sept 1, 2016 7:21:14 GMT
Can I ask your reasons for leaving FC ? I've effectively been forced out of active bidding since none of the auctions I want to bid in (just the Es and small Ds) last longer than the few seconds taken for the bots to hoover them up, a scandal that FC continues to ignore completely. These days, if you're happy to accept FC's global average net return then much the simplest option is to invest via the FC SME Income Fund (investment trust), which I hold in my ISA to provide tax-free income.
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Post by Deleted on Sept 1, 2016 7:24:24 GMT
I'm withdrawing from FC as cash is paid back. I'm leaving as the rate does not match the risks. (note; rate= advertised rate plus charges)
8% sounds a tad high for no DD, I think if you drop your expectations to 7% there is a lot more opportunity. AC fits in there pretty well with one of their defined accounts. Though I'm not sure how liquid those accounts are.
The other alternative is to accept a certain amount of capital loss and go with a 12% lender and just a fixed sum in every loan (not something I'd do but certainly a possible strategy) In this case MT, FS, SS (despite your concerns).
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Post by Deleted on Sept 1, 2016 7:25:34 GMT
Can I ask your reasons for leaving FC ? I've effectively been forced out of active bidding since none of the auctions I want to bid in (just the Es and small Ds) last longer than the few seconds taken for the bots to hoover them up, a scandal that FC continues to ignore completely. These days, if you're happy to accept FC's global average net return then much the simplest option is to invest via the FC SME Income Fund (investment trust), which I hold in my ISA to provide tax-free income. Steve, what is the FC SME Income paying? Ah "The target NAV total return is 8-9% per annum, and the annual target dividend yield is 6-7 pence per share. There are no fund management or performance fees charged at the Company level."
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archie
Posts: 1,866
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Post by archie on Sept 1, 2016 7:26:40 GMT
You could look at BondMason, they target 7%, haven't tried it myself. I like MoneyThing. I've withdrawn from FC, as far as possible. Can I ask your reasons for leaving FC ? regards Andy I preferred the site before they went to fixed interest rates, the bidding system was fun.  I currently have around £1300 I cannot sell because it's long overdue and £1600 in bad debts (down from £2300). Personal guarantees are worthless. I'm generally not impressed with the loan quality. My largest P2P holding is with LendInvest as their management appear to be very good. Rates aren't as high as elsewhere though.
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Post by stevefindlay on Sept 1, 2016 19:40:55 GMT
***Pitch warning*** andyb You may like to give our platform (BondMason) a try. Our clients have achieved a net return in excess of 8.0% p.a. over the last year, although the target is 7.0%. You can invest from £1,000; funds can be allocated to 50-100+ loans from vetted platforms. ***Pitch over*** ;-) Please ask if you have any questions about our service, and you may like to see our sub board on this forum. |
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fp
Posts: 1,008
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Post by fp on Sept 1, 2016 19:48:31 GMT
Can I ask your reasons for leaving FC ? I've effectively been forced out of active bidding since none of the auctions I want to bid in (just the Es and small Ds) last longer than the few seconds taken for the bots to hoover them up, a scandal that FC continues to ignore completely. These days, if you're happy to accept FC's global average net return then much the simplest option is to invest via the FC SME Income Fund (investment trust), which I hold in my ISA to provide tax-free income. Is this any good Steve?
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SteveT
Member of DD Central
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Post by SteveT on Sept 1, 2016 20:05:52 GMT
Likely little better or worse than the FC loan book average. But requires zero time to manage and can already be held within an ISA or SIPP.
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Steerpike
Member of DD Central
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Post by Steerpike on Sept 1, 2016 20:18:38 GMT
Big spread though
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SteveT
Member of DD Central
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Post by SteveT on Sept 1, 2016 20:23:22 GMT
Yes, certainly not one to chop in and out of, but of little consequence if investing with a 5+ year horizon.
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stevio
Member of DD Central
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Post by stevio on Sept 1, 2016 21:18:12 GMT
I've effectively been forced out of active bidding since none of the auctions I want to bid in (just the Es and small Ds) last longer than the few seconds taken for the bots to hoover them up, a scandal that FC continues to ignore completely. These days, if you're happy to accept FC's global average net return then much the simplest option is to invest via the FC SME Income Fund (investment trust), which I hold in my ISA to provide tax-free income. Steve, what is the FC SME Income paying? Ah "The target NAV total return is 8-9% per annum, and the annual target dividend yield is 6-7 pence per share. There are no fund management or performance fees charged at the Company level." I suppose there is a platform fee to consider though (eg H&L)?
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jonah
Member of DD Central
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Post by jonah on Sept 1, 2016 22:13:34 GMT
iWeb ISA (for example) has no charges for holding funds or ITs. Other platforms have similar approaches. They may have other fees though, such as opening fees.
Please do you own research though. Monivator or MSE are good places to find platforms to match investment approaches.
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Post by Harland Kearney on Sept 1, 2016 23:57:56 GMT
Currently I'm only happy in investing in FC property, mainly the sole reason being is there SM is usually of good liquidity on all my experiences. If you do decide to go forward with FC, any property you may or may not invest, it is always good to sell before merturty. Also read the terms for selling loans as all FC loans in property do not allow you to sell beyond the 60 day before maturity point as far as I am aware.
Their handling of Property loans is nothing but shocking once they go over due, we haven't seen a default yet (By FC words). So invest at your own comfort level please.
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