ashtondav
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Post by ashtondav on Apr 29, 2019 7:57:33 GMT
It remains troubling that despite unemployment being at its lowest for over 40 years the platforms I invest in are all showing signs of credit strain - FC, Z, RS etc. Any sign of a downturn and i’m Selling. And I think that may be soon.
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ashtondav
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Post by ashtondav on Apr 28, 2019 9:00:34 GMT
Don’t need a network, as it functions over WiFi.
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ashtondav
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Post by ashtondav on Apr 27, 2019 15:13:04 GMT
...in an economic downturn.
the stats FC proved are still based on projected returns of 6% to 7%, where the return falls to 3% to 5% if BD doubles. How does this change with the new, much lower projected returns? I’m assuming the lower rate declines to about 2%?
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ashtondav
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Post by ashtondav on Apr 27, 2019 14:25:44 GMT
I assume he is talking about an ifisa. In which case as soon as you transfer into a taxable account losses can be offset against p2p interest I think
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ashtondav
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Post by ashtondav on Apr 26, 2019 16:43:13 GMT
Oooooops. Thought it said 2007
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ashtondav
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Post by ashtondav on Apr 24, 2019 18:11:25 GMT
Sadly the search for yield and the competitive loans market means lower returns are probable.
EVERYWHERE.
M&S announced 2.8% today for personal loans but every one knows borrowers lie and “buying a car” could well be “propping up my business”. 2.8% for an unsecured loan!!!! The whole world is going to hell in a handcart. Try the 12%ers - that’ll get you similar net returns.
i am keeping a sharp look at the unemployment rate and will jump all platforms if I see two months of that increasing.
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ashtondav
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Post by ashtondav on Apr 19, 2019 14:56:33 GMT
£31,100 total, £29,400 available to sell.
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ashtondav
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Post by ashtondav on Apr 19, 2019 14:09:20 GMT
I just started with FC when they introduced the black box. My first deposit was October 2017. My annualised return is 5.8% Vs an estimated 7% and my latest tax return shows an annual return after fees and BD of about 5%+. I've got 44 bad debts on 730 loan parts. At this stage i'm still reinvesting capital and interest but i'm keeping an eagle eye on the trend in my annualised return.
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ashtondav
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Post by ashtondav on Apr 19, 2019 11:21:58 GMT
Err, because it was a leading indicator of what happened less than a year later. The biggest financial disaster since the ‘30s
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ashtondav
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Post by ashtondav on Apr 19, 2019 6:43:18 GMT
Ah that old chestnut, the AC provision fund. It would be better to rename it “discretionary very enigmatic provision fund”, a bottle only opened when the grandchildren reach 18.
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ashtondav
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Post by ashtondav on Apr 18, 2019 15:06:49 GMT
on credit card (unsecured) lending
So only go with the strongest platforms with proven risk assessment. As far as I can see FC and ZOPA are both being impacted and the RS provision fund is heading south (so much so that RS no longer publish it except one month in arrears.)
Who reckons who's best placed to survive the inevitable Tsunami when unemployment (currently at a record low) increases?
Winter is coming......
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ashtondav
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Post by ashtondav on Apr 17, 2019 15:22:42 GMT
It will be one or both of the latter options. They will sell everything and wind up the IT. FC have announced it has other institutional investors lined up.
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ashtondav
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Post by ashtondav on Apr 16, 2019 7:43:15 GMT
Started to withdraw a year or so ago when the incompetence began to be clear.
FS is for the brave and the foolhardy. Oh, and dodgy borrowers of course!
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ashtondav
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Post by ashtondav on Apr 15, 2019 10:16:08 GMT
With rates as they are why would I want to choose the PSA account rather than the 90DAA?
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ashtondav
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Post by ashtondav on Apr 14, 2019 10:08:19 GMT
Thanks. I wasn't aware of that search tool. I had also been under the impression Ratesetter invested in a combination of personal and business loans. Hard to tell because borrowers rarely tell the truth. “It’s for a wedding”, “it’s for a car”, “it’s to pay off my credit cards”. Can all mean: “it’s to support my cr*ppy business idea.”
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