huxs
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Post by huxs on Feb 25, 2016 20:34:56 GMT
Sounds good to me
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huxs
Member of DD Central
Posts: 300
Likes: 218
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Post by huxs on Feb 25, 2016 20:25:56 GMT
What will the term be?
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huxs
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Likes: 218
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FundingSecure (FS) in Administration
New Loan Glut??
Feb 25, 2016 11:42:58 GMT
Post by huxs on Feb 25, 2016 11:42:58 GMT
It looks like FS are making large strides in winning new loans but are there sufficient Lenders to cover all of these? Currently there are four open loans three of which have been open since yesterday with a combined total of over 1mil still to fund. There is then another 1.4mil loan going live at 2pm and a pipeline longer than I have ever seen on FS with some very chunky loans.
Are FS lenders holding off funding these loans until they are almost full (to reduce the time money sits idle and is this something FS needs to start addressing) ? Or is the lending pot running low?
Given that all the current loans on FS would have gone in seconds on SS (with lenders moaning about not getting sufficient allocations) are FS losing in the competition for lenders ? and if so what do they need to do to win lenders back (for me reducing the time loans sit not earning would be a big step forward, i.e. instant returns)?
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huxs
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Post by huxs on Feb 19, 2016 14:04:49 GMT
How would the SM price up this loan? If I am two years into the loan I would want to be selling it a something like 130%? and is that 30% counted as Capital gains not interest?
Also not sure I understand why the SPV couldn't pay interest (at least some interest) during the loans life? Surely the SPV will be making a profit in year one couldn't that be paid out as interest? This would greatly increase the liquidity on the SM and increase the appeal to most by partially removing a large tax implication from the final year.
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huxs
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Post by huxs on Feb 19, 2016 9:39:58 GMT
Am I correct that if you managed to sell this loan on the SM prior to the end of 5 years you would not pay any tax (or maybe capital gains) but the person who brought it would pick up the whole bill (aka the FS model), which would either make the buyer a fool or somehow tax exempt (which raises the question could this be moved into an ISA)?
I am really keen on this loan but picking up the full tax bill in the last year would be a real pain, if selling to myself or husband, yearly at a premium, would allow me to spread the tax over the 5 years that would make it much more beneficial but I don't see how this could be done?
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huxs
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Funding Circle (FC)
E-Alert!
Feb 18, 2016 17:22:51 GMT
Post by huxs on Feb 18, 2016 17:22:51 GMT
17174 the largest ever E to date has been downgraded due to the company being liquidated. Good luck getting a quarter of a mil from the PG !!! Surely the paper the PG was written on is worth 250K ?!?! My mistake remembered that incorrectly, PG's aren't worth the paper they are written on drat!! £20 down the drain !!
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huxs
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MoneyThing (MT) in Administration
Web suggestions
Feb 11, 2016 17:08:48 GMT
Post by huxs on Feb 11, 2016 17:08:48 GMT
Well, for me the site seemed very slow for the first 30 seconds or so of the MT345 release today. Was it slow for anyone else? Oh no... I hope it was just an issue at your end, but would be interested to know if anyone else noticed any slowness? Yes was slow for me as well, it took about 10sec reloading the Loans page at exactly 16:00, once I managed to get into the loan it was fine. Given the bid limit it was not a problem as have plenty of time to invest but I am so used to the fastest finger problem on other sites that I did panic for a bit.
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huxs
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Post by huxs on Feb 9, 2016 12:27:57 GMT
Count me in. My concern about this is more to do with when it gets launched, if the SS pipeline opens up soon and ABL start dropping the loans it is promising then the pool of investor cash may empty pretty quick.
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huxs
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Ablrate (ABL) in Administration
Upcoming Loans
Jan 27, 2016 16:59:24 GMT
Post by huxs on Jan 27, 2016 16:59:24 GMT
I think one roll announcing tomorrow. Two in the next few days. Fingers crossed.... Hi Andy, I know in the P2P world words like tomorrow and next few days are flexible terms but any updates ??
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huxs
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Post by huxs on Jan 26, 2016 13:30:14 GMT
I've invested with Unbolted for a while now and found then a professional, competent outfit. There have been a few defaults which is to be expected,but so far these have been dealt with well. Overall though,while I like them, they only make up a fairly small part of my portfolio due to their less competitive interest rates. If they were to become more competitive I would certainly consider increasing my exposure to a more material extent rather just a means to increase diversification. Snap, very happy with Unbolted and I would up my investment 5-10 times if the rates matched MT and FS but I don't think that increasing the rate has crossed their mind after all they don't have a big problem with loans not being filled at the moment. My biggest concern with Unbolted is how many more loans do they need to bring on to make a profit and therefore be a successful platform in the long term. If they increase loan volumes then they may need to look at ways to increase the number of investors.
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huxs
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Post by huxs on Jan 20, 2016 13:27:08 GMT
Other factors include also, for example, minimum investment in one loan. However, unfortunately I am afraid we cannot disclose how exactly once position is determined in the queue for reasons that have been already discussed here. martins : Could you please enlighten us what these factors are, besides one's account size, and how taken together they determine one's position in the queue? More importantly do you see supply catching up with Demand anytime soon, I am guessing I am close to the bottom of the queue, which while annoying I am not going to moan about (you have to use someway of distributing loans and someone is always going to lose out this time it looks like it might be me). If though supply is planned to increase shortly then I will happily wait, otherwise given the EUR to GBP rate is better now than it was when I transferred in its as good a time as any to move my money out for a while.
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huxs
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Post by huxs on Jan 20, 2016 10:50:01 GMT
As I think has been mentioned many times before SS time estimates are indicative at best (for good reasons as the rely on the most unreliable profession Solicitors). End of Jan can mean anything from Tomorrow through to End of Feb but without this uncertainty P2P investing would be so boring and therefore that's why we love SS so
Seeing items appear or disappear on the pipeline just shows that SS are keeping busy and trying their best to keep high quality loans coming.
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huxs
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Post by huxs on Jan 20, 2016 10:30:06 GMT
I don't disagree with the other risks. However my #1 concern 1) Platform failure due to operational losses (i.e. never getting to profitability and running out of cash) is for me the biggest danger. And this will be exasperated in a recession with less lending and lender-led liquidity reduction. Perhaps capital investors will get bored when the growth and unicorn valuations don't happen, and simply turn off the tap. Mitigated in that capital should be recoverable ifa robust run-off plan is in place, but this can't be proven until the proverbial hits. Kevin. Totally agree how many of the current P2P platforms are making a profit? yes the market is still growing and yes the existing lending market dominated by traditional banks is huge but how much of this business is really going to move over to P2P platforms at rates that are going to keep investors interested. I personally will not touch anything under 6% on any organisation not covered by the FCA's deposit guarantee, which I think is where the largest growth could be for P2P platforms to eat the Banks lunch.
I am starting to worry that my desire to diversification across many platforms is actually going to result in me almost guaranteeing I will be using the platform that is wound up because it just cannot get sufficient business. Granted this will be only a small portion of my portfolio but maybe soon I will need to think more carefully about the long term survivability of the platforms I use and move appropriately.
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huxs
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Post by huxs on Jan 19, 2016 16:56:26 GMT
At last something came up which I actually wanted, and up come the bloody pictures .... seven or eight bloody clicks to get as far as "too late". Ludicrous, really. I know SS have tried, but really, is this the best available solution? No, the best solution is to run some sort of buy queue / allocation, like they do for the initial funding stage, which can probably be defined to be 'fair', regardless of how fast your fingers, PC, internet connection, bot, or brain, happen to be .. however that definitely is more work, and will baffle any foreigners to whom the concept of queueing is .. well .. 'foreign'. 8>. Yep, a prefunding queue for the SM is the best solution (regardless of how "fair" or "unfair" some people may say it is), this current solution just slows everything down for everybody and therefore I am now wasting more time to still not get any parts. I guess the only benefit of this approach is it push all but the most desperate, or time rich people off of the SM and therefore maybe improves chances for these select people, for everyone else its now just not worth the effort.
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huxs
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Post by huxs on Jan 8, 2016 13:26:11 GMT
Hmm, am I missing something??
While this will I am sure make sense to someone is this really as safe as the 6.5% I can get on RS (granted this is 3 not 5 years, but 95%LTV!!) any safer than the 7% I can get on the Property loans on FC (especially when CB comes back) or worth 5.5% less than the more risky property loans on FS, SS and MT ??
I want to like (and invest) in all the Ablrate loans (mainly so they will continue to grow and start delivering the plane loans) but I can't see this getting any of my money I am afraid.
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