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Post by chrisuk on Sept 29, 2016 13:54:13 GMT
SS - well, less said about Autobiddy, the better. None of the other platforms I'm in are even as hands-off as that, I don't think. I think you mean FC ? Yes, I used Autobid on FC when I first started to dabble with P2P lending. What a mistake! I had so many defaults!! I've now withdrawn most of what remains my money from FC.
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adrianc
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Post by adrianc on Sept 29, 2016 16:31:57 GMT
SS - well, less said about Autobiddy, the better. None of the other platforms I'm in are even as hands-off as that, I don't think. I think you mean FC ? D'oh does not begin to cover it.
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mikes1531
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Post by mikes1531 on Sept 29, 2016 18:54:09 GMT
AC often has big funding shortfalls in the hands-off accounts, leaving you with big QAA balances. Then again, the money in the QAA is earning 3.75%, which AIUI isn't that different from what Z and RS are paying on easy access funds.
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adrianc
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Post by adrianc on Sept 29, 2016 19:06:36 GMT
AC often has big funding shortfalls in the hands-off accounts, leaving you with big QAA balances. Then again, the money in the QAA is earning 3.75%, which AIUI isn't that different from what Z and RS are paying on easy access funds. I dunno about Z - but it's ahead of RS's rolling (typically 3.3%). But I wouldn't necessarily leave money there for anything but the very short term, either.
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Post by pauljoanss on Sept 29, 2016 23:25:21 GMT
Yes, I used Autobid on FC when I first started to dabble with P2P lending. What a mistake! I had so many defaults!! I've now withdrawn most of what remains my money from FC. I have been with FC for about 6 months using Autobid limited to A and A+ risk groups. It has worked well for me with a return of approx 6.5% after defaults and fees. chriuk, when you had Autobid problems where you investing in higher risk groups?
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arbster
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Post by arbster on Sept 30, 2016 4:48:26 GMT
Yes, I used Autobid on FC when I first started to dabble with P2P lending. What a mistake! I had so many defaults!! I've now withdrawn most of what remains my money from FC. I have been with FC for about 6 months using Autobid limited to A and A+ risk groups. It has worked well for me with a return of approx 6.5% after defaults and fees. chriuk, when you had Autobid problems where you investing in higher risk groups? I can't speak for Chris, but in the 18 months I've been with FC, investing across all risk bands (A+ to E) I've had 6 defaults, of which 1 has been an A+, 3 As and 2 Bs. No defaults in the "higher" risk bands. For context, I am currently lending to 260 business according to my FC dashboard.
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Post by GSV3MIaC on Sept 30, 2016 15:48:08 GMT
If you use autobid your chances of actually getting any D/E loans is rather small (manual bidders and bots grab them all very fast, unless they are huge). For A+/A/B autobid might be OK, if you set the desired rates high enough to stop it buying dud parts on the SM .. these days almost all primary market loans get filled by autobid (sometimes to almost 100% as far as I can see) so you are not necessarily buying the dross that nobody else wants (but you may be). The main downsides are the size of the part it will buy, it's slow rate of leaping in to a new auction, and its willingness to buy on the SM unless your rate threshold stops it (and when it buys it won't buy the BEST part, just one which is OK-enough).
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