ashtondav
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Post by ashtondav on Dec 2, 2019 10:49:54 GMT
Maybe but that doesn’t explain oxdoc’s discrepancy between expected lifetime defaults and actual.
And I would have thought loan length was longer than 14 months
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ashtondav
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Post by ashtondav on Dec 2, 2019 9:27:02 GMT
What concerns me is that there is an implication, and possibly more, that the business is not viable UNLESS it gets a banking licence.
If that is so, it casts doubts over the viability of other p2p platforms with a similar business model. 14 years should be sufficient to prove a new business, but in reality it has not delivered.
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ashtondav
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Post by ashtondav on Dec 2, 2019 9:18:25 GMT
Yep, I don’t understand because their headline is predicted losses 3.85%, actual 3.75%.
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ashtondav
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Post by ashtondav on Dec 1, 2019 19:02:41 GMT
Prudent decision? Afterall FC, RS, big Z et al have all reduced rates.
Or is the brown stuff about to hit the expelair...
Withdrawing 50% until the air clears - or clouds. Maybe back after Christmas.
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ashtondav
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Post by ashtondav on Dec 1, 2019 14:12:33 GMT
14 years old, still not profitable and today's Times says the funding required by the company to become a bank will be at a far lower level of valuation than the last fund raising.
So, is p2p a scalable long term business?
FC for example has declined in value by over 80% in a year. As Adair Turner said a few years ago peer-to-peer lenders could be the source of losses that would “make the worst bankers look like absolute lending geniuses”. Now, he was biased but nevertheless there is very little good news in the sector.
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ashtondav
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Post by ashtondav on Dec 1, 2019 12:57:15 GMT
Anyone who has made a loss on the 3 big platforms and has been invested and reinvested over a 5 year cycle is somewhat unlucky. In fact VERY unlucky.
Most of the loss makers are the unfortunates who can't or won't sit out the 5 year cycle. And yes, I agree, FC's greed ridden 2017 and 2018 have not helped these people.
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ashtondav
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Post by ashtondav on Nov 30, 2019 15:45:01 GMT
Given the recent changes on RS and LW how long can AC retain the high rates on the access accounts? Maybe a change to 5?, 4?, 3? Perhaps?
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ashtondav
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Post by ashtondav on Nov 29, 2019 19:22:05 GMT
Lending is risky.
Why do you think the banks screwed up in 2008? Why do you think p2p will be any better. Why do you even invest in p2p?
You get less than 1% in a UK government gilt. 2.4% 5 year BS rates. Even 3% is an improvement on that. And its 100% better than equity punters endured 2008 2009.
We live in a zero interest rate environment. Best get used to it.
And yes, i'll buy your loans at a 1.25% discount because I can only buy the ones that haven't defaulted so i'm buying better quality.
I may be wrong, but i'll report back in april when the results of my (foolhardy?) experiment will be clear.
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ashtondav
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Post by ashtondav on Nov 28, 2019 19:19:49 GMT
At 5% for 5 year money there is not much that is good about RS. Soon to be 4%. Makes AC and LW look like gold plated money machines. I’ll turn the light off as I leave. Good luck to lenders of unsecured loans to the consumer market at 4%. Mind you I was quoted 2.5% for a car loan by Nationwide the other day so if they’re happy with that why not us...
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ashtondav
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Post by ashtondav on Nov 28, 2019 19:15:30 GMT
Sales continuing to reduce according to P1. Just 4 in October. I reckon by end January you guys will be getting yer money and i’ll Still be picking up my 1.25% on the non defaulting stuff you’re selling. What sellers and buyers happy on FC?
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ashtondav
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Post by ashtondav on Nov 28, 2019 17:53:53 GMT
At 5% for 5 year money there is not much that is good about RS.
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ashtondav
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Post by ashtondav on Nov 27, 2019 12:44:37 GMT
Bring back Dave. When Zopa was funky.
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ashtondav
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Post by ashtondav on Nov 16, 2019 10:01:10 GMT
I saw that myself and had a chuckle. This, IMHO, is another example of a company in distress. You sound like the one in distress!
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ashtondav
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Post by ashtondav on Nov 13, 2019 13:40:03 GMT
1.6% would kill the opposition - say 30 days notice or instant access.
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ashtondav
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Post by ashtondav on Nov 12, 2019 19:07:42 GMT
Still don't understand why they don't sell them on as ZOPA does, enabling a clean exit for lenders. Offering them on a SM at a discount does not achieve this.
It can only be (over?) confidence in their recovery ability.
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