ashtondav
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Post by ashtondav on Aug 27, 2018 10:56:39 GMT
Still don’t understand the model that enables RS to deliver 6% on 5 year with a PF and Zopa to deliver under 5% with no PF. Surely it should be vice versa.
Different quality of borrower?
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ashtondav
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Post by ashtondav on Aug 27, 2018 10:10:58 GMT
You can’t. I presume he means sell the whole loan book if you’re below x%.
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ashtondav
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Post by ashtondav on Aug 26, 2018 12:29:25 GMT
I would be willing to pay 10p in the £1. AIUI, I can't buy and holders can't sell. Quite why I am unsure.
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ashtondav
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Post by ashtondav on Aug 25, 2018 12:33:09 GMT
Personal prediction... by Monday 10pm they will be matching 6.7%. DAMMIT!
In the RS silly season for rates i transferred out £45,000 to FC and LW - slowly returning funds as long as 6%+ is achievable. But it's sloooooooooow....
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ashtondav
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Zopa (Z)
Bailed
Aug 25, 2018 10:46:07 GMT
Post by ashtondav on Aug 25, 2018 10:46:07 GMT
I think to be competitive they will have to offer a market leading instant access account. Expect (at current rates) 1.5% to 1.6% instant access and no fees for going overdrawn. Credit cards with usual inducements, and late interest rates of, say, 20%.
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ashtondav
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Post by ashtondav on Aug 25, 2018 8:39:14 GMT
Nothing! The business model should be designed such that if (for example) 5 year rates are at either 4% (as they have been), or 6%(as they are now) the provision fund should provide, er, provision.
Thats what a PF is!
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ashtondav
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Post by ashtondav on Aug 24, 2018 10:46:06 GMT
Trouble is most "secured debt" is based on flawed valuations and 70% LTV. A catastrophic combination, as recovery costs can easily swallow 10% in difficult cases. Especially to spivvy property developers who never pay up on time and are blessed with eternal optimism about the property market which is horridly cyclical.
There are no safe places to hide come the next recession and since we haven't had one for 10 years.........
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ashtondav
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Post by ashtondav on Aug 24, 2018 8:59:59 GMT
A very sobering article for all us p2pers. It could be a tough two years ahead.
Google “providers of debt advice warn of funding crisis” to reach the FT article.
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ashtondav
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Post by ashtondav on Aug 23, 2018 15:36:16 GMT
Yep, just bunged in A few hundred at 6.4%. Xmas come early.
i do pity the poor muppets who got conned into lending at just over 4% a few months ago, though. Will history repeat next isa season?
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ashtondav
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Post by ashtondav on Aug 21, 2018 9:49:24 GMT
For Property:
Max LTV 60%.
1st charge only.
Auction off at 9 months.
For jewellery:
Max LTV 70%
1st charge only
Auction off at 6 months.
In general shift business to 80% jewellery 20% spivvy property developers.
Oh, and no silly loans on unsellable power boats or land without planning permission!
Easy really but pigs might flippin fly.....
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ashtondav
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Post by ashtondav on Aug 20, 2018 12:23:19 GMT
Well that's weird! Its never happened to me, so is there a "random" reinvestment gremlin in the depths of the RS systems?
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ashtondav
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Post by ashtondav on Aug 20, 2018 8:02:08 GMT
Yay! 6% hoovered up just now. I'm back to RS after months of diverting repayments to LW and FC. As long as i can get 6%+ I will be diverting back from those two sites.
Meanwhile the dumb ISA money is earning peanuts. I guess we'll get the same stupidity next ISA season.
I thought LW also offered 6% on 5yr money with some form of 'protection', so why return to RS for the same rate? Apologies if there's an obvious reason, but I don't use LW. RS is far bigger and more secure than LW, so LW is merely a fall back when the dumb ISA money lowers rates to levels which would invoke a misselling scandal in many industries.
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ashtondav
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Post by ashtondav on Aug 19, 2018 18:51:32 GMT
Yay! 6% hoovered up just now. I'm back to RS after months of diverting repayments to LW and FC. As long as i can get 6%+ I will be diverting back from those two sites.
Meanwhile the dumb ISA money is earning peanuts. I guess we'll get the same stupidity next ISA season.
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ashtondav
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Post by ashtondav on Aug 17, 2018 22:33:43 GMT
Just a little missing point here, a little number manipulation crunching there....
All makes me wonder....a risky game is this.
Er, can you elaborate on this?
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ashtondav
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Post by ashtondav on Aug 17, 2018 17:41:08 GMT
If (1) can compete with the 6% net of fees currently available from RS, AC and LW it will be an attractive addition to the the p2p market. Product (1) is likely the upcoming 3.35% / 3.85% 1 yr / 3 Yr bonds. So 100% cast iron useless rubbish, then. But compares favourably to ZOPA, I guess. There are at least 3 providers offering a PF and 6% for 5 year money. AC even gives 5% on 30 day money and a PF (the only account I trust the AC PF).
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