huxs
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Post by huxs on Apr 29, 2016 8:35:13 GMT
Rather than a Fixed £100, I would suggest that a Fixed amount of each loan be allocated bottom up, the rest going proportional. It's daft that the many wanting. £100 or £200 can get it in a £300k loan, but have to game the system if the loan comes in at £1,000,001. That is how I see it, I want £300 per loan so under £1m I will get most of what I want between £1,000,001 and about £3m need to guess what multiples I need to PF to get about £300 and over £3m can go back to PF £300. But I guess me putting in £600 when I want £300, and maybe having to sell £50 isn't really the problem SS are trying to solve.
If the first £1m of all loan where bottom up allocated and everything else split as currently would that work??
SS, you should have enough data to make a good guess, with the current active users (ones that use PF and have brought loans in the past month) and the rough average of what they currently hold per loan (which would give you and idea of what they really want v's they PF) where would this approach leave everyone for a £1m, £2m £3m loan etc? I would be surprised if the first £1m of a loan would not satisfy most investors wanting upto £5-600 per loan which would keep a large majority of investors happy and then anything above could be split between anyone wanting more.
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huxs
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Post by huxs on Apr 26, 2016 10:55:28 GMT
So what if I have no salary at all and the only income I receive is from Bank savings and P2P. How much of this is tax free?
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huxs
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Post by huxs on Apr 20, 2016 16:05:53 GMT
Any news, its being really quiet lately ??
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huxs
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Post by huxs on Mar 23, 2016 11:43:31 GMT
hmmm, Let me start by saying I have a lot of faith in FS, while I have only been investing on FS for the past 12 mths they have always seemed to me to be moving in the right direction.
Saying that, and not wanting to cover old ground, I see all of their recent problems with insufficient demand (which this renewal problem is a consequence of) is down to the fact that their original model for pawn items (Interest paid only at end of term) does not scale. From this approach we get the Tax issue on the SM and therefore the lack of liquidity (as only non-tax payers or mad people will buy). This therefore means any investments in FS loans are effectively locked in for the full term and open to renewal issues as we are seeing now.
I might be totally wrong and even if I am right my investment pot is never going to be large enough to really change the liquidity but from what I see if FS start including Interest in the loan amount upfront and hold it to be paid out monthly then this will greatly increase the attractiveness of FS and tempt more investors to invest more money in new loans knowing that the ability to sell on the SM and diversify latter is a valid option.
I am very interested in lending more on the property loans that are currently available and in the pipeline but the lack of SM liquidity is a big turn-off compared to other platforms.
Just re-read my above and I have totally covered old ground so sorry for that but if FS provide comments I promise I will not raise this point again.
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huxs
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MoneyThing (MT) in Administration
How old?
Mar 18, 2016 11:53:24 GMT
Post by huxs on Mar 18, 2016 11:53:24 GMT
51 and 3months, Not my age !!
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huxs
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Post by huxs on Mar 15, 2016 15:09:39 GMT
I don't have any problem with FS expanding into Property as long as the non-property loans are still coming through which I think they are.
The bigger problem I see is that FS are using the business model for pawn items on property, in so much that interest is only collected at the end. To me this makes a 12% at FS worth less than 12% at SS or MT (which with compounding interest works out to more like 12.6%) and causes the illiquid SM due to tax implications you don't have on SS or MT.
For pawn I understand that I am in the loan until the borrower pays up or the item is sold as that is the nature of the beast, for property I would prefer more flexibility. Unfortunately I don't think FS want to have a different approach for property so will need to keep offering bonuses and even then may struggle to fulfil there current pipeline.
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huxs
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Post by huxs on Mar 15, 2016 14:58:52 GMT
Hi Ed,
My initial thoughts are what problem is this trying to solve? Is this to help you see demand pre go-live, to help us lenders and remove fastest finger or to reduce the need for lenders to log in at certain times? I m not sure the last two are big enough problems at the moment to warrant a change like this?
Also your approach seems similar to what they tried at Ablrate and that has the problem with money be paid in just to be taken out again when you only get x% of what you transferred.
I say until you have a genuine problem to solve don't change anything.
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huxs
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Post by huxs on Mar 4, 2016 15:37:25 GMT
Does anyone know if there is a way to see what the latest information on the late / defaulted loans. I know unbolted send emails out but it would be nice to be able to see via the website what's the latest by loan with the recovery. I've contacted Ashwin via the site to ask him to consider having a tab showing all defaults along with their current status and progress to date etc. He has promised to get it set up asap. Thanks jonno I was going to do that but found that the online chat has been removed from the site (at least it seems to have for me) and then got distracted.
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huxs
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Post by huxs on Mar 3, 2016 13:44:18 GMT
Does anyone know if there is a way to see what the latest information on the late / defaulted loans. I know unbolted send emails out but it would be nice to be able to see via the website what's the latest by loan with the recovery.
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huxs
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Post by huxs on Mar 1, 2016 10:42:41 GMT
I have a lot of money tied up in P2P platforms - but am reluctant on SS. The practice on SS of buy now pay later is one of several factors that in my opinion makes SS one of the riskier platforms out there. As a contrarian, I would invest more if they got rid of it. I am talking platform risk not loan risk here. I am not going to try and change your mind on this but given the investor demand on SS even if certain investors fail to pay-up any unsold parts will fly off the SM anyway and SS will not be left carrying the risk for any great length of time. I would suggest this only becomes a genuine risk if investor demand plummets and multiple loans don't fill for days on end but that would be a problem regardless of when you pay for your loan part.
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huxs
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Post by huxs on Mar 1, 2016 10:36:26 GMT
I really like the buy now, pay soon after system. It gives so much more flexibility in adding funds to the platform. But more than that, it makes it much easier to re-balance portfolios by waiting until you are able to purchase a loan part you want before selling something else on the SM. If deposits are required, I predict that the SM would become much, much slower. Then we would have a whole host of other complaints. Agreed, if its a choice between gaming caused by this approach (which I am still not convinced about) or reducing the SM liquidity (that this would definitely do unless everyone was happy to have money sitting around waiting for people to sell). Then I say stick with the current approach.
SS fundamentally works and any changes will more than likely come with unforeseen problems as people try to beat the systems in other ways.
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huxs
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Post by huxs on Feb 29, 2016 16:20:06 GMT
4.4% available now, how high will it go?? And at the same time you have people offering to lend at 4.3% on the 3 year market !!
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huxs
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Post by huxs on Feb 26, 2016 14:21:21 GMT
FS seem to be pulling out all the stops over the past 24hrs , instant returns (big tick) and now a bonus for big hitters (I am a not a BH so no impact on me) but so far not much movement !!
For my part I have simple run out of funds available to invest this week but it seems that to try and steal some of SS's customers (who's appetites seem to be endless at the moment) then, as others have mentioned, the key differences between the tow platforms are the SM and monthly interest. I can see how FS has worked to date without monthly interest as that is the norm for pawn items but as it moves more into property I think it needs to take a look at changing this approach.
FS may be trying to use the no interest until the end as USP for Borrowers but if it stops lenders lending then it may well back fire? Could you have monthly returns for Property and leave the rest as is??
Also once you have monthly interest payments then the current SM problems (around buyers picking up the full tax burden) disappear which would improve liquidity and therefore encourage more investors.
I am not saying FS should try and morph into SS but there seem to be key success factors that SS are getting right and copying may ensure FS can fund the current and future pipelines of loans.
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huxs
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Post by huxs on Feb 26, 2016 12:03:56 GMT
I'll do it on a pledge basis ladywhitenap . So there'll probably be a cap on pledges at say 2k and I will pro-rata based on that. If "pledging" on small Ablrate loans is going to become a regular occurrence, it would be good to avoid the rigmarole of transferring in money only to transfer maybe half of it out again 24 hours later. How about taking pledges on "trust" and, once the allocation is confirmed, giving pledgers 24 hours notice by email to transfer in the money? If anyone fails to back up their pledge with cash in time, make their share available to others and (critically to avoid abuse) exclude them from the next pledged loan (or for several, if you get a repeat offender). Anyone worried that they may not be around to get the cash transferred in time could simply do so in advance, as now. I agree the pledge approach seems to be the fairest way to distribute the loan but in its current guise this means that while you know you will only get half (or less) of what you pledge you have to move at least double across and then move the rest back again. This is not only a pain but for me personally where I try not to have lots of spare cash sitting around moving money out of somewhere else in the knowledge that only half or less will actually get placed in the loan is more of an issue.
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huxs
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Post by huxs on Feb 25, 2016 20:38:31 GMT
Wow glad I started this thread. FS step up and introduce instant returns . What shall I ask for now
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