ashtondav
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Post by ashtondav on Feb 19, 2019 8:35:28 GMT
Just had a tasty wedge hoovered up at 6.5%. Unfortunately in just 2 months the dumb money will flood in in isas and we’ll be back to 4.5% until June.
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ashtondav
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Post by ashtondav on Feb 18, 2019 13:04:48 GMT
FC transfer the bad loans into a non isa account and transfer the balance. You then lose isa benefits on the unsellable loans, of course
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ashtondav
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Post by ashtondav on Feb 18, 2019 11:48:32 GMT
No, I am saying that you are only going to make the estimated returns if you invest for at least 5 years at the appropriate diversification level, reinvest capital and interest and neither sell or withdraw money.
Do anything else and you run the risk of underperforming.
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ashtondav
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Post by ashtondav on Feb 18, 2019 10:28:54 GMT
5% interest and fee free withdrawal? So its pointless investing in the 3 year product right now when in a few weeks a fee free one will be released at the same rate. Thank for the heads up matt. Looking forward to investing more funds with lending works. I would hope that your 3year portfolio is transferred to the new flexible account. Otherwise, yes, no point in investing in the 3 year account.
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ashtondav
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Post by ashtondav on Feb 18, 2019 10:24:36 GMT
Quick update on time to sell - I put the whole of my FC ISA on sale on 5 Feb (about 21k) and it 'all' sold in one go this morning, so just under 2 weeks. Frustratingly, around 1.6k remains unsellable due to late payment and bad debt, which is quite a chunk and, should it not ultimately be recovered, will have made the entire exercise of investing through FC pointless. And Therin lies the “problem” with most, if not all p2p platforms. Achieving estimated returns depends on staying in for the long term, about 5 years, and reinvesting capital and interest. Hardly any platform delivers once reinvestmens are not made, loans are sold and money withdrawn. It’s a long term product.
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ashtondav
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Post by ashtondav on Feb 16, 2019 9:32:08 GMT
Hmmm, what are you talking about? Ratesetter is making losses because of a business decision. Nothing to do with either debts or defaults
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ashtondav
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Post by ashtondav on Feb 15, 2019 13:16:51 GMT
Err, why are you using “buy it now rate”?
Why don’t you set your rate at 5.6%?
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ashtondav
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Post by ashtondav on Feb 15, 2019 9:10:11 GMT
My 6.3% wedge was hoovered up last night in 5 year. The weekend could be tasty...
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ashtondav
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Post by ashtondav on Feb 14, 2019 19:01:30 GMT
To offset the grim newpaper article I've just linked to on the recession thread, here is a much more upbeat one - demand for Welsh mozzarella is increasing, helped no doubt by current exchange rates.
Yeah, trouble is they can't export any cos no one knows what the rules are after 29 March, so no one placing orders after that date. Canada? Still no deal agreed but we sell a lot of cheese there. Er, what do we print on the label? Dunno. Oh, ok we'll buy from the USA.
It's a freaking first class double starred c*ck up. The whole country ransomed by 60 ERG lunatic fringe Brexiteers. We're the laughing stock of the world.
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ashtondav
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Post by ashtondav on Feb 14, 2019 12:13:31 GMT
Someone on another forum thread claims to be getting 11% on AC
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ashtondav
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Post by ashtondav on Feb 12, 2019 13:58:19 GMT
FS, not just any pawnbroker - the worst freakin’ pawnbroker in the world.
its very easy to make money in pawn
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ashtondav
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Post by ashtondav on Feb 12, 2019 10:26:49 GMT
AssetzCapital?
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ashtondav
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Post by ashtondav on Feb 11, 2019 11:56:28 GMT
I phoned FC last week as my account was showing an annualised return (on the Balanced option) of 4.4% with £2395 of earnings and £1215 of losses, and a estimated return of 7.1%. I asked whether, since I clearly had a higher than average level of bad debts, the 7.1% calculation took that into account or was the same figure shown to all investors with my level of investment and loan diversification. I spent over five minutes on the call and have no idea what the answer was; I was given a beautifully constructed circuitous answer. So I called again a couple of days later and had a similar conversation. I am reasonably sure the bottom line is that I should not expect 7.1%. So I have two questions. First, do I have an unlucky loan book or are most people experiencing losses to the level of half their earnings? Second, what is other people’s experience of FC’s way of answering this type of question? 4.4%. That’s about twice the risk free rate of return. It may not be FC’s estimate, but it’s a pretty good return, after tax meeting or beating inflation. As for me, I joined when FC ditched the flippers and have an annualised return of 6.4% on 750 loans.
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ashtondav
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Post by ashtondav on Feb 11, 2019 11:49:01 GMT
Defaults at F/C have been awful for at least 18 months. Which was when i decided to leave them they don't seem any better now. I put my cash into A/C and i'm getting 11% with no problems. 11% with AC is impressive. Is that an XIRR? If so, does it include some bonuses? I can't see how to achieve that otherwise with any degree of diversification. You can’t get an IRR of 11% in AC. End of.
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ashtondav
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Post by ashtondav on Feb 9, 2019 19:15:14 GMT
I'm guessing it's by Adam Williams.... he's wanting to write an exposé with lenders who've lost money....but as none of us have as yet....
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