ashtondav
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General P2x Discussion - Polls Only
P2P in 2020
Feb 19, 2020 19:04:14 GMT
Post by ashtondav on Feb 19, 2020 19:04:14 GMT
Yes. But secured loans should have a LOWER interest rate - because they are covered by security. Just as a mortgage has a lower interest rate than a car loan.
I can get a 60% house mortgage of £300,000 at 2%. An unsecured loan for a Rolls Royce at £300,000 would be priced substantially higher. Even though FC advertise loans at 1.8% (but then they do have a record about as good as FS.)
And that is why i am sometimes left "pondering". As with most things p2p, an element of smoke and mirrors...
With the notable exception of the diabolical diversification nonsense of the GBBA et al accounts, AC seem too good to be true. Sadly.
BUt sadly, due to the alternatives, it's my largest position.
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ashtondav
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Post by ashtondav on Feb 19, 2020 16:56:32 GMT
It is free to sell your loans and withdraw on all the AC access accounts AJU. And even better there are no fees at all on the ISA product. No transfer in fee, no transfer out fee and no selling fee is impressive, and shows great confidence in the product, I think.
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ashtondav
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General P2x Discussion - Polls Only
P2P in 2020
Feb 19, 2020 12:09:56 GMT
ozboy and aju like this
Post by ashtondav on Feb 19, 2020 12:09:56 GMT
Assetz is by far my biggest P2P, followed by RS, FC (relying on improvement this year!), ZOPA and a smidgen in LW (dumped after latest fiasco) and a puddle of lost money in FS.
Quite simply nothing comes close AC's access accounts - but that in itself gives me cause to ponder sometimes. How can AC offer 4.1% on its "instant" account when RS only offers 3% on its access offering (occasionally spiking up)? Even more surprising it offers 5.7% on its 90 day account, meeting or beating expected returns on 5 year money at ZOPA, RS, FC and LW. Either AC has exceptionally brilliant management (hope, hope, hope so!) or someting will have to give. In other words that "90 day account" may become a locked "5 year account" - as it is financing 5 year loans.
Just saying...
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ashtondav
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Post by ashtondav on Feb 15, 2020 16:25:58 GMT
That'll teach you not to try and improve on the marvellous RS visuals
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ashtondav
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Post by ashtondav on Feb 14, 2020 23:15:42 GMT
It’s unsecured lending. UNSECURED. Geddit - it’s. Risky. If you don’t like that go to AC or RS. PF or secured or both.
FC is VERY high risk and offers low returns.
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ashtondav
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Post by ashtondav on Feb 13, 2020 21:31:23 GMT
£17,000. 7 days from instruction to in my bank account. V good compared to the tedious 1.2% club over on FC.
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ashtondav
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Post by ashtondav on Feb 13, 2020 21:26:46 GMT
Not wishing to antagonise, but surely 4.4% is an appalling return, given the risk to your capital all that time? Wouldn't some secure FSCS-backed investments have come close to that figure? I recall having worry-free 5yr fixed ISAs running in the 3% to 4% area in recent times, even one at 5% shortly before that. Personally I would always trade a couple of percent to sleep soundly at night and P2Ping at 4.4% is dreadful in the risk/benefit stakes. Good job we're all different! EDIT: Sorry, this was meant for ashtondav No. 1.4% in top paying off marcus instant access. 2% FSCS over 5 years. you’re creaming it at 4.4%
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ashtondav
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Post by ashtondav on Feb 13, 2020 18:16:38 GMT
But you see, that's just it. Many of us in p2p have no intention of liquidating our investment. We are investing for an income stream. So, in the same way as my investment trusts "lost" 30% in 2008 (much more than any punter in the top 4 p2p sites), my dividend income increased. Now I totally agree that FC is not the nicest place to be if you do need to liquidate assets, but that's not a (short term) issue for many of us. I do concede that the 2.8% received in 2019/2020 is unagreeably less the the 6% i made in 2018, but my overall annual return of 4.4% beats most alternatives.
Thank goodness you are not in the M&G Property fund - not been able to sell ANYTHING for months. But the dividends are still being paid.
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ashtondav
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Post by ashtondav on Feb 13, 2020 10:55:21 GMT
Quite so. Chris, in his outrageous signature has no bullet point for: “estimated vs actual bad debt”, “diversification algorithm “ or “provision fund payout”.
Instead we have a platitudinous list of boll0x which ought to have been deleted by the mods.
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ashtondav
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Post by ashtondav on Feb 12, 2020 18:20:25 GMT
Damn, I hate being out of 1 year. Of course in that market no flood of dumb ISA money!
Meanwhile 5 year festers like a ripe bunion...
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ashtondav
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Post by ashtondav on Feb 12, 2020 15:28:51 GMT
And best make hay while it lasts as in just 2 months we will be hit with the annual deluge of "dumb money" ISA flood, reducing rates until summer...
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ashtondav
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Post by ashtondav on Feb 11, 2020 20:15:29 GMT
Yep, well emailed a few days ago.
problem?
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ashtondav
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Post by ashtondav on Feb 11, 2020 18:26:40 GMT
Well i'll see if the returns over the next year for new loans are 5.4%, and if my "unsellables" become covered and therefore "sellable"- if they are i may well add more money. If not they'll be out of business anyway.
In the meantime AC 90 day delivers more, with no (yet!) problems.
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ashtondav
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Post by ashtondav on Feb 11, 2020 12:46:15 GMT
Why is RS using money from 1 year at 6% when there buckets of the stuff available on access at 2.9%?
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ashtondav
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Post by ashtondav on Feb 11, 2020 8:53:59 GMT
i had about 37000 in LW. I sold about 20,000 in December. This week I decided to accept the penalty, invest elsewhere and see how things develop, and accept I have earned about 4%. I am left with 1,700 unsellable loans in my account. I guess I will review things when those loans are re-imbursed by the shield and I hear that LW is actually delivering 5.4%. I hope I can return as I value the diversification, but not at current perceived risk levels.
from triggering sale to account 7 days. Pretty good, I think.
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