SteveT
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Post by SteveT on Jun 15, 2017 11:23:00 GMT
FS are getting away with treating their lenders like mushrooms currently because they stole a march on the other platforms in getting their IFISA up and running quickly. Continued IFISA demand is shielding them from the headaches other platforms are facing in filling new loans, but this will change once other (better) IFISA options emerge, Ablrate looking to be close and MT not too far behind.
I've now sold everything I'm able to sell in my FS company and non-ISA personal accounts, leaving only the long list of endlessly late / unredeemed loans I'm locked into. As and when any of these manage to repay, these funds will be leaving the platform too.
As for my FS IFISA, which I transferred my best / youngest loans into and am keeping liquid by selling anything 100+ days old, that too will be cashed in and transferred elsewhere as soon as there's a better option. I used to rate FS and like the unusual loans they brought forward. However, in the headlong rush for growth at all costs, they seem to have forgotten that anyone can shovel money out of the door; the skill lies in getting it back again.
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james21
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Post by james21 on Jun 15, 2017 13:20:45 GMT
Agree. FS claim a "number of investors who prefer to invest larger sums " but its clear when you look under the investments tab of each loan you will see the amounts invested and the vast majority of investors put in smaller amounts; therefore the "philosophy" should favour the majority of investors not the minority. FS should review its philosophy
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bg
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Post by bg on Jun 15, 2017 14:47:02 GMT
Agree. FS claim a "number of investors who prefer to invest larger sums " but its clear when you look under the investments tab of each loan you will see the amounts invested and the vast majority of investors put in smaller amounts; therefore the "philosophy" should favour the majority of investors not the minority. FS should review its philosophy What is clear is that in value terms the vast majority of funds invested in this loan were invested by investors investing larger amounts. I'm not sure what philosophy has to do with it. This is a capitalist platform. FS are there to make a profit, the investors are there to make a profit. The borrowers are there to make a profit. If you're looking for some sort of egalitarian society the P2P is probaly the wrong place to look. If the guy who invested £29k into this loan has £5m invested in the platform then FS are very much within their rights listening to his preferences (and sensible to do so), even if that annoys 50 guys who have £500 invested. Larger investors want to invest in smaller loans for the same reason smaller investors do - for liquidity purposes down the line. If you have £5m invested then it's a complete irrelevance and a waste of time investing clips of £25 to make £1.50. I'd rather invest £5k in one loan and manage that position than have £50 in 100 loans with all the hassle involved. It's only right that FS have a policy that caters to both type of investor which is why they have a mixture of loans with restrictions and those without. That the loan alert email said that there would be a restriction is another matter entirely but is completely consistent with the numerous errors FS make in emails/loan details.
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mason
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Post by mason on Jun 15, 2017 15:48:16 GMT
It's only right that FS have a policy that caters to both type of investor which is why they have a mixture of loans with restrictions and those without. Seems absolutely reasonable that some low value property loans should have restrictions and some should not - to cater for both camps. However, it is only the non-property loans that have restrictions as far as I can see.
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elliotn
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Post by elliotn on Jun 15, 2017 15:56:23 GMT
BHs getting ready for Bournemouth tomorrow  |
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Post by dan1 on Jun 15, 2017 16:03:05 GMT
BHs getting ready for Bournemouth tomorrow Don't you mean Bourn remouth
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09dolphin
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Post by 09dolphin on Jun 15, 2017 18:01:34 GMT
Whilst FS obviously prefer favouring people who make large investments they seem to be ignoring smaller investors wants / needs. Good luck to FS as I would guess that the majority of loans are largely funded by relatively small investors. Their preference to favour large investor may backfire in the longer term.
The false information given in the email annoyed me and adds to my concerns about the honesty we can expect of this company. Trust is an essential part of the business of lending money and the recent actions of FS suggest this trust is misplaced.
Actions really do speak louder than words.
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lend
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Post by lend on Jun 20, 2017 11:51:05 GMT
I, for one, am surprised there is such clamour over investing in NI property  |
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