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Post by Deleted on Nov 10, 2017 14:26:36 GMT
I have now been on the platform for 12 months. I have 9 on my Watchlist, (the majority of which would seem to be OK), 5 in default and 1 loss. The defaults total just under 50% of interest earned to date and the loss was about 10%. Too early to decide where it is going so I will hang in to see what happens - but will not be adding to my funds of more than £20k. Thanks for the update. What's your XIRR for the 12 month period?
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ton27
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Post by ton27 on Nov 13, 2017 13:42:09 GMT
My current gross return is 9% and my XIRR is 6.5%.
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ton27
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Post by ton27 on Jan 12, 2018 18:24:38 GMT
Over the last couple of days my watchlist has increased to 13 (excluding a couple of minor amounts) and Defaults to 9 - a huge deterioration which I cannot believe has all happened in the past 2/3 days!
These, together with about 7% of write offs now account for 120% of total interest earned.
I appreciate there will be recoveries but it is now crucial if I am not to incur a loss - Bondmason is now on my watchlist!
Has anybody else seen such a deterioration?
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TheDriver
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Slightly bonkers
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Post by TheDriver on Jan 13, 2018 5:52:12 GMT
My watchlist has recently increased from 50 to almost 100% of interest received, although my account has only been fully funded for just over 6 months.
I fortunately still have no defaults, and the vast majority of outstanding capital is allegedly secured at mid 60s LTV so should hopefully be mostly recoverable in the worst case.
However, it's certainly a potentially worrying trend of delinquencies.
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Greenwood2
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Post by Greenwood2 on Jan 13, 2018 8:00:50 GMT
I also now have quite a lot of late and defaulted loans now, not looking great if these are meant to be the best loans off the best platforms specially selected. 2% of my loans are in default with 8% on the watch list, and I have two crystallised losses (now fairly historic).
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Post by stevefindlay on Jan 16, 2018 19:13:32 GMT
We continue to be vigilant and tag loans onto the watchlist if there has been any negative news or delay in scheduled repayment. We do this as an early warning signal, and it ensures a dialogue with the underlying platform.
However, every property loan which has gone onto the watchlist (or default) has had full recovery. In all cases. And it is actually quite common for property development loans to go slight longer than initially planned.
The only loses we have had to date are in invoice discounting (it is important to look at net returns for this asset class) and a single Corporate Loan (and we no longer invest through that platform).
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shimself
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Post by shimself on Jan 16, 2018 20:13:00 GMT
.... we no longer invest through that platform Seeing as you (we in fact) no longer invest through that platform it can't do you any harm to name it
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Post by stevefindlay on Jan 17, 2018 10:45:06 GMT
.... we no longer invest through that platform Seeing as you (we in fact) no longer invest through that platform it can't do you any harm to name it Tempting...
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ton27
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Post by ton27 on Feb 5, 2018 11:49:12 GMT
We continue to be vigilant and tag loans onto the watchlist if there has been any negative news or delay in scheduled repayment. We do this as an early warning signal, and it ensures a dialogue with the underlying platform. However, every property loan which has gone onto the watchlist (or default) has had full recovery. In all cases. And it is actually quite common for property development loans to go slight longer than initially planned. The only loses we have had to date are in invoice discounting (it is important to look at net returns for this asset class) and a single Corporate Loan (and we no longer invest through that platform). In light of the above, I am hoping recoveries continue at 100% as my w/offs (6%), Watchlist (57%) and Defaults (82%) now total 145% of my interest earned to date
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zlb
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Post by zlb on Feb 6, 2018 19:24:22 GMT
Over the last couple of days my watchlist has increased to 13 (excluding a couple of minor amounts) and Defaults to 9 - a huge deterioration which I cannot believe has all happened in the past 2/3 days! These, together with about 7% of write offs now account for 120% of total interest earned. I appreciate there will be recoveries but it is now crucial if I am not to incur a loss - Bondmason is now on my watchlist! Has anybody else seen such a deterioration? I have 100% equivalent of my interest earned so far now from only 3 defaults. The watchlist adds up to 240% of interest earned so far. I can only hope that the information about defaults/loans being secured and reclaimed is true. Even if most of the defaults were recovered, it would still knock a block off of income, regardless of the larger watchlist wave. There's a very clear argument for smaller loans.
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ton27
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Post by ton27 on Feb 7, 2018 13:19:50 GMT
Having become "fully invested" I switched my reinvestment setting to 1% - neither my Watchlist nor Defaults has any amount as high as 2% and most are 1% or less.
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garfield
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Post by garfield on Feb 8, 2018 10:32:13 GMT
Having become "fully invested" I switched my reinvestment setting to 1% - neither my Watchlist nor Defaults has any amount as high as 2% and most are 1% or less. I switched my reinvestment setting to 1% too, once fully funded, and things are bubbling along nicely. One loan in default, but as Steve has said, recovery rates seem to be very high, so no concerns here. Mind you. I've only been invested for 4 months.
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zlb
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Post by zlb on Feb 8, 2018 23:39:35 GMT
Having become "fully invested" I switched my reinvestment setting to 1% - neither my Watchlist nor Defaults has any amount as high as 2% and most are 1% or less. I switched my reinvestment setting to 1% too, once fully funded, and things are bubbling along nicely. One loan in default, but as Steve has said, recovery rates seem to be very high, so no concerns here. Mind you. I've only been invested for 4 months. I've had 1% from the start and have only three defaults which match all earnings over approx 6 months. I understand they are looking at a new release addressing this.
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shimself
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Post by shimself on Feb 9, 2018 9:41:42 GMT
I switched my reinvestment setting to 1% too, once fully funded, and things are bubbling along nicely. One loan in default, but as Steve has said, recovery rates seem to be very high, so no concerns here. Mind you. I've only been invested for 4 months. I've had 1% from the start and have only three defaults which match all earnings over approx 6 months. I understand they are looking at a new release addressing this. I was wondering if BM would be better if there was a provision fund, which would in effect spread the misery equally on all investors (well ok reduce the overall return). Given that this is black box investment with no ability to pick and choose, so defaults become just a matter of bad luck it makes sense to me
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garfield
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Post by garfield on Feb 9, 2018 11:38:54 GMT
I've had 1% from the start and have only three defaults which match all earnings over approx 6 months. I understand they are looking at a new release addressing this. I was wondering if BM would be better if there was a provision fund, which would in effect spread the misery equally on all investors (well ok reduce the overall return). Given that this is black box investment with no ability to pick and choose, so defaults become just a matter of bad luck it makes sense to me I disagree. It's better for everyone if all the money is invested, without any being held back. A provision fund would mean lower interest rates!
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