ashtondav
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Post by ashtondav on Dec 13, 2019 8:28:03 GMT
Yes i thought under the new rules there would be more transparency. But no, still a bit murky which is a shame as AC are one of my favourite platforms.
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ashtondav
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Post by ashtondav on Dec 11, 2019 19:07:39 GMT
This is getting boring. 20 or so postings a day saying 1.1% sold. Fascinating stuff! Am i alone in thinking there are a lot of people investing in a five year product and wanting out in two?
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ashtondav
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Post by ashtondav on Dec 11, 2019 18:35:29 GMT
Max you can get is 1.5% instant access. You're getting a 100% premium from RS access But RS Access a) isn't an instant access savings account and b) has no guaranteed protection.
Some may feel a 100% premium is worth the risk though.
Oh i remember when BS accounts became "non instant access".
You really think HM Government is going to be "instant" for £85,000? No flippin way - and nowhere do they make that claim, which they would -if they could.
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ashtondav
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Post by ashtondav on Dec 11, 2019 18:29:50 GMT
I chose the "Not adding but reinvesting everything" box though having said that my investment remains under constant review.
All of my Everyday money is in 5 Year and is being fed into the RS IFISA as repayments come in.
My ISA balance is spread between all the old markets but is becoming heavily weighted towards the 1 Year, which will continue while I am averaging close to 5%
I have no interest in Max or Plus so if (more likely when) the old markets are withdrawn or I can no longer achieve my minimum required returns then I will go into drawdown, having followed similar paths with FC and Zopa (I've a couple of hundred £ left in Zopa and close to £1.5k in FC) since they moved away from the original P2P concept.
But where to go Coogs?
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ashtondav
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Post by ashtondav on Dec 11, 2019 17:54:51 GMT
Max you can get is 1.5% instant access. You're getting a 100% premium from RS access - that's a fair old whack given the capital coverage ratio of the PF.
It compares very well with ZOPA whose peoducts are awful - i think they will ditch p2p for banking.
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ashtondav
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Post by ashtondav on Dec 11, 2019 14:16:55 GMT
I need the diversification of RS, so i'm dumping withdrawals in Access at 3.5% because 4% with 90 days interest for withdrawals is as barmey as barmey can be.
I still prefer RS unsecured lending with a PF to ZOPA's unsecured lending with no PF, and RS has always delivered the rates ive asked for - ZOPA has emphatically failed at that the last two years.
I did like LW until the latest rate drop which shows they have misunderstood their model.
In short, i'm not happy with any of the big boys right now - but i need more that the 1.5% i can get at the BS.
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ashtondav
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Post by ashtondav on Dec 11, 2019 12:14:10 GMT
Sellers of loans are in more mire than FC. Surely, like Zopa, they can find an institution which will buy these loans and the lates and defaults?
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ashtondav
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Post by ashtondav on Dec 9, 2019 11:25:42 GMT
Except they haven't. They have reviewed and amended the rate paid to lenders. They have dropped lender rates as well as adjusted who they lend to and at what rates. Prime personal borrowers are typically rate sensitive particularly when sourcing loans from the comparison websites. However with some channels all lenders can pick up prime borrowers who for whatever reason end up paying a little higher interest without paying any attention.... However on the whole the higher the borrower rate the higher the risk. This is not a problem at all as long as enough money is put into the PF for these new borrowers. Only time will tell. But time has told. Default rates are much higher than Anticipated.
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ashtondav
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Post by ashtondav on Dec 8, 2019 17:29:58 GMT
I have almost £300 of bad loans from 2015/16. I get monthly repayments of 0.22p God bless funding circle. I’d pay £30 odd quid for them.
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ashtondav
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Post by ashtondav on Dec 6, 2019 12:52:26 GMT
I think rather than a poll asking which will fail next, maybe a poll asking which you think will survive the coming recession? ZOPA (they survived the last one), RS, AC and FC (they will ditch private investors and go institutional like Landbay).
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ashtondav
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Post by ashtondav on Dec 6, 2019 12:28:03 GMT
The state of the UK and global economy cannot be blamed for their failure. ' I'd disagree. WeWork for example was a major investor in London property but it's been exposed as a fraud. This may already be having an impact on commercial property not just in the UK but major cities worldwide. In the UK most lending seems to be against property, there must also be a very large amount in cars. What else do you lend against in the UK? Hardly any industry left to borrow, and those that are healthy enough to do will approach banks, not bitty P2P lenders.. Well most lending seems to be cars, yes, but also debt consolidation, weddings, house improvements. Collectively these are bigger than cars.
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ashtondav
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Post by ashtondav on Dec 6, 2019 12:04:08 GMT
Landbay, however, shows the model is not flawed but simply difficult to make money out of retail punters. That they can sell their loanbook to a bank shows it's e decent loanbook.
Wonder if FC would be able to flog their loanbook
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ashtondav
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Post by ashtondav on Dec 6, 2019 9:26:44 GMT
Never had a nibble above 5% in the old 5 year.
The search for 6% among the relatively safe p2p platforms is doomed, I fear. Among the black box accounts only AC 90 day comes near.
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ashtondav
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Post by ashtondav on Dec 5, 2019 18:58:53 GMT
Probably increase complaints, decrease demand and slow your sales. Great idea.
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ashtondav
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Post by ashtondav on Dec 5, 2019 15:46:13 GMT
A report in the FT today suggests that in the latest fund raising round to become a bank, ZOPA's valution was slashed by 50% to about £180M, That's about 40% less than FC, from memory.
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