Saving Stream now an illiquid monster...

That will take about a month or so isa manager application at hmrc once they are authorised by fca.

We can infer changes being made for fca (although not admitted unlike MT) in dropping Saving from their name + SM credit facility but have no further indication when this might happen other than anecdotally some other biggies have recently gone through such as Z/FC and perhaps more comparable FS/MT.

Would be interesting to know the mechanics of the mini-bonds and when these might be scaled up too.

I have used lendy the longest but have holdings in moneything and collateral too. L has always had the most of my money until this month. C is now number one for me when looking at total funds invested and M is catching up. When L started to reduce their rates to us (unknown if their profit margin reduced at the same rate) there was less direct competition at that time. Now we have more platforms moving into larger property loans. Competition is good for lenders and borrowers alike but not so good to the platform that offers the worst rates (to both lender and borrower) and/or takes the most profit margins.

We are already seeing midterm refinances to different platforms and pipeline loans disappearing only to reappear on a rival platform. Interesting times ahead.

As of today, many platforms are already offering IFISA.  FS, in my opinion, offered the best (both, rates and T&C) and I guess many investors already have their allowance there.  It is unlikely that L will be able to offer anything better than FS.  I don't think introduction of IFISA will result in significant increase of new investors.  SM will continue to be a 'monster' until Ly manage to redeem overdue and defaulted loans.      

Monthly interest payments are due tomorrow, which will be a very important day for Lendy investors and also for Lendy themselves. It's vital for platform confidence that a good chunk of the interest payments go straight back onto the SM to clear down as much of the backlog as possible.

A couple of repayments would undoubtedly help too, as would a relatively benign outcome to a few of the more concerning defaulted loans, particularly the "Gloucestershire 6"  and a certain Somerset Office Block.

SM now $4.15 million

I wonder if the sale queues might dip a bit as people cancel their sales when they realise there's little chance of selling out of certain loans and they may as well earn the interest. I'm at the very front of the queue for one loan with a £250 loan part I put up for sale at the start of the month but it came to the front of the queue a week ago and it's now only 70% sold. Theres £220k total for sale and at the current rate of ~£25 per day that would take 24 years to clear! Obviously it may speed up sometime if someone takes a big chunk but with other better looking loans still available it seems pointless trying to sell something that probably won't move and missing out on the interest.