blender
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Post by blender on Sept 1, 2017 22:25:19 GMT
I do have a reply to a question I put to FC which I will not quote for reasons of anonymity, but they say the option to sell loan parts individually is being withdrawn from Sept 18th. Best not to assume there will be a 'sell individually' screen after 18th.
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pikestaff
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Post by pikestaff on Sept 2, 2017 6:21:33 GMT
Who cares? The vast majority of potential lenders will applaud this change. A nice simple acccount delivering 7%. Just the ticket. Theres plenty of p2p places for you guys who like to consume company accounts and rip off unsuspecting punters on the secondary markets. I go to FS for this, but there's others. Really? I must have missed them. All that I have seen are fixed rate invest-and-forget type. With the possible exception of the AC Manual fund, which had a much smaller range of loans to choose from, FC was the only company allowing "stock market" type trading. And I think THAT is a good analogy: the stock market doesn't insist taht you only invest in an FTSE-100 or All-Share mixed fund (which is what FC are now making us do), they allow individual shares to be bought and sold at will. While (the way I operated it) it WAS very labour intensive, hell, you've got to do SOMETHING with your time, and I enjoyed this. So I remain very disappointed that, apparently for an easy life, FC have just joined the herd of mixed fund providers. :-( I use ThinCats for manual investing and I'm very happy with it. However you do need to be a reasonably large investor with their loan parts being in multiples of £1,000. I also have some manual investment on AC but their rates have been dropping fast and it's hard to keep invested. I used to use FC but the lack of information made intelligent investing difficult other than on a programmatic basis (eg buy large numbers of small parts new and sell after x months). I found this far too much of a faff to do manually and the bots were beating me to all the good stuff so I gave up. I may well rejoin FC once the change has settled down. I like the new model and I think a projected 7.5% for a diversified portfolio with no work is pretty attractive.
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Post by hobbitcz on Apr 12, 2019 2:11:32 GMT
I would just say that I was right. Ever since FC introduced black box lending returns dropped significantly. And I mean really badly, I was expecting it will be something like 1 percentage point less than the headline 7.5% rate, but the reality is way worse than that. My returns for last year were nearly 0% due to terrible spike in defaults on loans invested by FC. I am just happy I gradually moved my money out of this crappy platform which used to be one of the best on the market.
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ton27
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Post by ton27 on Apr 12, 2019 12:27:30 GMT
Since the start of "black-box" lending, I have also reduced from £30k plus to just £1600 most of which is tied up in old property loans. My headline rate is 7.6% but this will tumble if the Property Loans end up with significant shortfalls.
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benaj
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Post by benaj on Apr 12, 2019 14:24:12 GMT
corporate.fundingcircle.com/investors/results-and-reportsIn the annual report, there are 106 "investors" written, but I got the feeling FC is more focused growing their business globally as long as the return is "stable". I have no idea what stable means in FC context. Stable growth in portfolio value or total value stays stable???
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Post by steamer on May 8, 2019 10:42:16 GMT
Since the start of "black-box" lending, I have also reduced from £30k plus to just £1600 most of which is tied up in old property loans. My headline rate is 7.6% but this will tumble if the Property Loans end up with significant shortfalls. That is exactly the same experience as mine. I started in 2013 and my worst return was just over 5.1% in 2014/15 while 2018/19 was barely 1% because my losses which have been between 0.5% and 2.3% jumped to 10%. I getting out.
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Post by captainconfident on May 10, 2019 19:47:05 GMT
What a rotten company FC turned into. As soon as they turned it into black box investing, they went wild with the money of fools like me and doied out a series of loans of 150k - 265k to companies that paid a couple of repayments and then stopped. They must have heard that FC were giving out free money as more than six months down the line, the companies are still trading and lenders last heard from FC about these loans in October 2018, Dec 18, Jan 19 etc.
I've written to FC for an explanation of their inactivity and will report what they say.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on May 11, 2019 22:42:50 GMT
My cousin owns a few pubs and has jut gotten a business loan from FC at under 3% APR . I thought it must have been 3% monthly but he assured me it was not. Their current advert offers such loans. How can they possibly pay us the rates we get if they lend at these TESCO type rates ?
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