ashtondav
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Post by ashtondav on Nov 1, 2019 22:21:29 GMT
Yup. I'm still in good hope that I make it through. It's a small amount that's left anyway. The rest I'll let run out. If I don't get through, I'll also let it run out. Will end up slightly in the plus, 2-3% optimistically. The bulk which I got out months ago is growing elsewhere (not spectacularly, but ok and safer). Sorry to hear you might be getting into the new scheme. 3% is pretty damn good in a zero interest world.
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ashtondav
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Post by ashtondav on Oct 31, 2019 16:49:44 GMT
I just don’t understand these offers. If AC needs lender money why is my £5k any less valued than a newbie.
If AC wants £5k they am I more likely to deposit it than a new lender. I would CERTAINLY stick another £5k on AC if I got £150. As I won’t, I won’t.
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ashtondav
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Post by ashtondav on Oct 31, 2019 11:18:09 GMT
Not sure why the share price dropped. The new tool is better for FC financials encouraging more lenders.
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ashtondav
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Post by ashtondav on Oct 31, 2019 7:51:26 GMT
Just FYI. I attended the session and found it useful. I would recommend it if you have large lending investments in RS and want to find out more about them. Useful to chat to some of the senior heads listed on the RS website. I have been with RS since 2010,and earnt a 6 figure sum in interest to give some context. Interesting. Which other platforms do you use?
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ashtondav
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Post by ashtondav on Oct 30, 2019 18:27:06 GMT
This is not conducive of "customer satisfaction" for sure. I've been trying to sell out for 120 days now and nothing sold so far, nada. So on almost 30k, now I get to pay almost £400 to get out! Thanks FC and F-U!I wonder if, when FC burn up that £300m they raised from the IPO, we'll be seeing the biggest failure of a platform yet? I certainly haven't seen many referred investors from my site signing up for months, and so many investors trying to sell out, so it wouldn't surprise me. Probably shouldn’t have gone into a 5 year product with no guarantee of selling out in under that period. Shame that some people thought you could get 7% and get out with instant access. Clearly deficient knowledge of risk and reward which needs addressing by FCA and allowing access to p2p for knowledgeable investors only. You should have stuck to the Nationwide maybe. FC are nowhere near going under. Luckily my re investments will now benefit from a 1% kicker. Yum! Now I maybe wrong. Will report back on my mistake/portfolio in a few months.
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ashtondav
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Post by ashtondav on Oct 30, 2019 11:17:12 GMT
Seems fairer to me.
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ashtondav
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Post by ashtondav on Oct 30, 2019 11:14:57 GMT
Yes, effectively selling at a discount. A good move which should speed things up for the May/June tsunami sellers. And it will increase returns for those of us who remain lenders.
But the issues would have declined in importance in the new year because the selling (p1) has slowed since summer.
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ashtondav
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Post by ashtondav on Oct 30, 2019 7:45:08 GMT
Just for fun I put 50 quid in the max market at “going rate” a couple of days ago.
It still hasn’t gone!
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ashtondav
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Post by ashtondav on Oct 28, 2019 18:26:02 GMT
The problem is we get no positive news on p2p. Instead we get relentless bad news: Lendy, collateral, 4 months to sell on FC, FS collapse, consistent under delivery on Zopa, RS tricking punters into accepting lower rates. And no one making any profit!
So yes, I withdrew a chunk of uninvested cash on LW simply because I hear no good news from anyone in this industry, and I don’t see how 6.5% is deliverable seeing what I see on other platforms.
I’m worried. And I see nothing that addresses my worries. (NB, realise not much of my rant is LW specific.)
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ashtondav
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Post by ashtondav on Oct 28, 2019 16:23:58 GMT
Will I ever get 6% again in max or 5 year? If not do I go increase my exposure to LW (risky) or accept 5% on max.
These are not trivial issues...
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ashtondav
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Post by ashtondav on Oct 26, 2019 13:15:11 GMT
I’m surprised Zopa and fc don’t really figure. I believe they are the largest operators so it imply forumites arevnot representative of the broader lender p2p pool.
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ashtondav
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Post by ashtondav on Oct 26, 2019 12:19:08 GMT
Unfortunately you can’t get those HL rates in their ISA - only non isa accounts.
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ashtondav
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Post by ashtondav on Oct 25, 2019 18:04:59 GMT
Not been following much of this, but I notice that since their first inception the GR has been 3%, 4% and 5%. Does this mean RS has achieved their aim of sustainable, predictable rates? For example will we ever see 6% again in max or 5year? Is RS safer because of the lower rates?
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ashtondav
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Post by ashtondav on Oct 25, 2019 7:14:21 GMT
If you are withdrawing on any platform returns will decline, because you will eventually be left with only late payers and bad debt, with all the “good” loans having repaid.
This is even more the case if you sell. In this scenario you are immediately left with a portfolio of intermittent payers, late payers and defaults.
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ashtondav
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Post by ashtondav on Oct 23, 2019 15:04:28 GMT
Agree entirely with the previous post. While shareholders have taken a hell of a lot of pain, and there is no sign of institutions buying the shares even at this bombed out level, the IPO did bring in £300m of cash- which should keep the business solvent a a few years. FS went bust today because the business ran out of money - not because the loans they were making were rubbish (which they were). What FS may do is hasten the demise of P2P - I expect the regulators to bring forward more controls (and even regulation- about time too). I suggest if you are concerned about whether a platform will survive you look at the financial strength of the company behind he platform, not just the track record of loans. And some I am with look blooming shaky! Fair old amount of demand yesterday. Shares up about 30%. I know cos I sold and missed out on about 20% of the rise damn!
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