huxs
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Post by huxs on Jan 7, 2016 14:34:59 GMT
SteveT ... and anyway, some thieving a***hole nicked my bargepole about a year ago and I haven't replaced it yet. Is a***hole another one of the bots on the SS's SM ?
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huxs
Member of DD Central
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Likes: 218
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Post by huxs on Jan 7, 2016 14:33:56 GMT
I've been pottering about this P2P lark for a few months. Largely through lurking here, I've got the message re diversification, think I sort of understand how SM works, and am becoming aware that it actually takes a bit more effort to maximise returns than the websites would have you believe. But there's something I really, really don't get ... If I had a £100 to invest this afternoon I could go for £100 at 6% (less fees) for 12 months unsecured on Funding Circle for 'Growth and Expansion' £100 at 12% (no fees) for 12 months secured on a 'managed portfolio' at 80% LTV on MoneyThing So I have to ask, what's the attraction of the FC offer/pitfalls of the MT offer that I'm missing Hi, I started off with FC as a newbie (granted when it was still running auctions) and believe it has a place in a P2P portfolio, maybe a fairer comparison if you had to invest your £100 today are the three Property loans on FC today which offer 7% (8%-1% fees) on LTV's between 50-70%, these are arguable lower risk than the MP's on MT today but 5% less risky I am not too sure?? Saying that you would be diversified across three loans rather than just a single lender on MT.
FC is now arguable set-up to support "dumb" money of people with no real time or interest in understanding P2P (or big flippers of CB or E loans). If I won the lottery and therefore were too busy enjoying life to bother logging on for ever auction I would chuck a chunk of cash in FC using autobid and be happy with their average expected rates but as I have time and need to make my money work as hard as possible then MT is getting a lot more of my small pot than FC.
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huxs
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FundingSecure (FS) in Administration
New Loans (FS)
Dec 16, 2015 13:49:28 GMT
Post by huxs on Dec 16, 2015 13:49:28 GMT
There are now 8 loans sitting in the 'Loan Awaiting Activation' queue, with the 4pm loan coming up I do hope FS are not just putting all these loans up in the hope that they will be drawn down before xmas. I now have a decent chunk of cash across these loans and would be very disappointed if they sit they until the new year!!
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huxs
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Post by huxs on Dec 16, 2015 12:45:34 GMT
It was promised for this Monday (day before yesterday), but no, we haven't had it yet... I can't remember there being a 'pinkie promise' on this.
I always find it is best to take what SS say on this forum as a indication of their desire (one that they may well change, implement without any further info or forget about) rather than a full commitment.
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huxs
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Post by huxs on Dec 11, 2015 13:14:21 GMT
I think I remember a loan on unbolted which was exactly that a loan on a collection of watches held by a jeweller? Give them a try.
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huxs
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Post by huxs on Dec 11, 2015 10:08:44 GMT
Hmmm, Not overly impressed by the enhanced rates on this loan it really gives no incentive to the small time investors who have been supporting eMoneyUnion up until now. I fully understand you need to bring in the big players but it does feel like the small time investors are being taken for granted on this one. 9% on a 12% loan is fine (I understand to get this loan the rate needed to be competitive) but only 10% on 18% loan seems like you are cutting small investors just to persuade big hitter that they are getting a good deal whereas in fact on MT ad SS where everyone gets 12% on deals that are probably charging around the 18% mark.
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huxs
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Post by huxs on Dec 10, 2015 9:23:58 GMT
I am getting rather frustrated with Unbolted. Are any of you actually managing to get a piece of many loans? Yes there's usually some gold available but the higher interest loans are normally gone as soon as I get the email to inform me of their availability. A bit more notice would be welcome and maximum bids and pre-funding and... Hi, Just set-up an Autobid and then you will receive a small bit of each loan.
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huxs
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Post by huxs on Dec 9, 2015 14:34:37 GMT
Edit## Not sure where my comments went when I replied to this so will have to type them again !!
Obviously I think my way will work best but you are right there are many views on here and SS good luck choosing the best. Not wanting to force my views on anyone my views on the two you have mentioned are:
Putting limits to pre-funding depending on loan size. I think was mentioned when prefunding was first looked at an SS raised concerns that this would scare away the really big hitters and also not sure how this will stop the small timers like me asking for 4 times what I want to make sure I get what I ask for.
Holding the ability to sell in the SM for a number of days, I think we greatly reduce flexibility for everyone and could have wide ranging consequences. Given that loan go-lives are unpredictable what happens if I have free cash to fund 2 loans of £1000 today but actually 3 go-live, today I could sell on the SM the extra £1000 (probably in £333 bits across the 3 loans) if I was restricted to not being able to sell then I would have to go onto the SS not step (and have at least 1 of the loans taken off me after 48hrs) or sell a kidney . Obviously people will say I should manage my prefunding amounts more carefully and never have more in prefunding than I can fund straight away but that would be far to much admin for me and ruin any chance of my funds being fully allocated.
The alternative being suggested at the time was that everyone would have to pre load their accounts to finance the prefunding amount which I believe would be a huge backwards steps.
This approach would only require new investors or people who want to greatly increase their investment to put up cash in advance of loans going live (my suggestion would be that if you have £1000 in your account you could prefund all pipeline loans for that amount, you wouldn't need to have £10,000 to prefund 10 loans for £1,000 each).
While this could be seen as unfair initially it would quickly get less unfair as you get more loan parts. A way to remove this disadvantage to new investors is to change the % based on the number of loans you hold so (While I always belief in keeping things and therefore I would, if it was my decision, not bother with this):
0 Loans, you must pre load cash to allow you to prefund 1 Loans, you can Prefund up to the value of your first loan 2 Loans, you can Prefund up to 80% value of your total loan amount 3 Loans, you can Prefund up to 70% value of your total loan amount ..... 10+ Loans, you can Prefund up to 10% value of your total loan amount
Any set of rules based on the size of the portfolio of each individual lender is unfair by definition. There were other proposals that made much more sense: - Putting limits to pre-funding depending on loan size.
- Holding the ability to sell in the SM for a number of days.
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huxs
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Post by huxs on Dec 9, 2015 13:56:32 GMT
That seems eminently fair and feasible... Comments please. That proposal will put new investors at a serious disadvantage. The alternative being suggested at the time was that everyone would have to pre load their accounts to finance the prefunding amount which I believe would be a huge backwards steps.
This approach would only require new investors or people who want to greatly increase their investment to put up cash in advance of loans going live (my suggestion would be that if you have £1000 in your account you could prefund all pipeline loans for that amount, you wouldn't need to have £10,000 to prefund 10 loans for £1,000 each).
While this could be seen as unfair initially it would quickly get less unfair as you get more loan parts. A way to remove this disadvantage to new investors is to change the % based on the number of loans you hold so (While I always belief in keeping things and therefore I would, if it was my decision, not bother with this):
0 Loans, you must pre load cash to allow you to prefund 1 Loans, you can Prefund up to the value of your first loan 2 Loans, you can Prefund up to 80% value of your total loan amount 3 Loans, you can Prefund up to 70% value of your total loan amount ..... 10+ Loans, you can Prefund up to 10% value of your total loan amount
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huxs
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Post by huxs on Dec 9, 2015 13:36:18 GMT
I would have liked more but expected less so happy.
Saying that I am a bit concerned that next time I might not have the spare cash to commit to a pledge x times more than I actually want to ensure I get somewhere near my required amount. But as per the Prefunding conversations on the SS board there doesn't seem yet to be a perfect solution (except increased loan flow ).
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huxs
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Post by huxs on Dec 8, 2015 17:35:19 GMT
We recognise that as a solution but would people stand for it? It is the ability to fund afterwards that makes SS stand out from the crowd. I'd be sorry to see this facility go. I don't think the ability to fund afterward is the real problem and i would also hate to see to go. A percentage cap could probably work. Limit the per funding amount to 10 % of you total investment plus any cash balance. This will mean people who want more than 10% will have to transfer money into their accounts but everyone else will be restricted to a fairly decent chunk.
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huxs
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Post by huxs on Dec 8, 2015 15:32:00 GMT
OK last clarification as I am now retiring out of the forum until this is done as it is rather busy here! The email was the official version and is what we decided on in the end. 1. You can pledge for as much as you like in excess of £99.99. 2. The maximum allocation will be £2k per individual. 3. The pro rata will be based upon the lowest of how much you have on account tomorrow morning and your pledge. If you pledge high but don't have the funds on account, your pledge will be reduced by us. Yes, I know that not everyone is happy BUT all bids are "real" in that they have to be funded before being accepted. There are lots of other options but off the top of my head : (a) I could auction this, clear it at a lower yield and lots of people are unhappy (b) I could do fastest finger first and lots of people are unhappy (c) I could sell it all to one buyer off or on-platform and lots of people are unhappy We have made a substantial change for this deal. It is not the last deal that we are doing. There will be more. After this deal, we will sit down, gather all of the feedback and tweak the process to try to keep as many people happy as possible, which is how we always try to operate. Thanks Andy, I and I am sure the majority of people appreciate your efforts to provide a solution in a very short space of time, it may not please everyone (and I am not sure any solution ever will) but will be a huge improvement on the last small loan. Your continued interaction via this forum and listening to your lender community puts Ablrate in the small minority of P2P platforms that truly seem to want to deliver to both P's in P2P.
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huxs
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Post by huxs on Dec 3, 2015 13:59:08 GMT
I didn't make an attempt at todays loan as I guessed it would be near impossible to get any, but it now looks like I will get my money paid back from the first container loan but not be able to put it into the new loan as human finger speed does not seem to be quick enough on Ablrate. I must admit I was previously disappointed that I haven't been able to increase my investment via Ablrate but now I am being forced to reduce it as loans fall off.
I still hold out hope that Ablrate can increase volumes and get some more big loans out but many more of these small loans (without and max limit or prefunding) that are almost impossible to get than I will finally call it a day and sell out.
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huxs
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JustUs (formerly eMoneyUnion)
Pre Funding
Dec 2, 2015 14:51:48 GMT
Post by huxs on Dec 2, 2015 14:51:48 GMT
I guess that's a no then
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huxs
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Post by huxs on Dec 2, 2015 11:13:55 GMT
Sounds like a sensible idea to me.
I would suggest keep it simple and allocate on a queue system with a minimum amount as you suggested, so £500 comes up for sale and the first 10 people in the queue get £50, they then go to the back of the queue if they are still looking for more.
Obviously many flaws with any solution and this could be criticised as having too small a minimum or people used to sitting and pressing F5 not getting as much as they used to but would be fairer to all I think?
While I have managed to get a good number of loan parts on the SM since the new site has gone live (without too much pain) I do like the idea that I can just set my required amount per loan and let SS distribute anything that comes up for sell. This will totally remove the risk of bots hogging the SM like they seemed to do in the final few weeks of the last website as well as level the playing field for those who are not able to be on SS all day everyday.
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