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Post by Financial Thing on Dec 6, 2015 13:40:08 GMT
Bots have to be at play here. Or are people just sitting on the website all say waiting and waiting for a random loan piece to randomly pop up for sale? I don't see it. Morning, We have been monitoring the traffic and can verify that no bots are at work (at least yet). I can see that there are quite a few investors trying out the system at the moment which is understandable whilst it is still all new. When there are no new loans, pre-SM, there were typically single-figure numbers on our site at any one time, but now there is on average 15 to 25 keeping an eye on SM parts popping up. Kind regards, Ed Woops. I meant to post that on SS's thread. Apologies.
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Post by Financial Thing on Dec 5, 2015 20:18:57 GMT
ilmoro Thanks - useful info. Just need SS now to clarify a few points and update its website Im afraid thats something that they arent very good at staying on top of. The old website had the original FAQs & T&Cs, that were largely inaccurate as they related to the boat loans structure/operation, long after they ceased to offer boat loans. So Im afraid it might be a case of [Possibly slightly unfair, BUT 2000 post so had to get the pig in somewhere ... or he might have got stroppy and the consequences of having a stroppy pig sat on your helmet are not worth contemplating ] So what's the situation because I'm confused? Are old loans still under the old structure? Are we still lending to Lendy?
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Post by Financial Thing on Dec 5, 2015 20:09:18 GMT
I also reduce my holding in every loan as it approaches it's end date and usually sell-out totally with one month to go. Do you ever worry about the poor sucker who has taken on all the risk after you have taken most of the interest? Nothing wrong with that strategy at all, makes perfect sense. I'd feel much worse about dumping SM tax liabilities to someone on FS than selling out of a loan prior to its completion date on SS.
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Post by Financial Thing on Dec 5, 2015 19:59:50 GMT
lendingcrowd I understand you need to generate revenue but the Secondary Market surely can't be a make or break revenue stream for you? If so I'm concerned. I think this fee hike should have been announced with several months warning so investors could plan accordingly. And if I have to pay a 0.5% fee, then I would request being able to add a 0.5% premium to my loan part. Currently I see no option to do this. Can't say I'm a happy camper at this point.
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Post by Financial Thing on Dec 3, 2015 21:52:44 GMT
I've listed a whopping £17 of something.. go get it! what did you sell?
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Post by Financial Thing on Dec 3, 2015 21:46:32 GMT
Evening, SM is GO, GO, GO!!! (Now Live)Unfortunately mailchimp is currently offline so I can't email investors at the moment but as soon as it is I will send out a mail. Kind regards, Ed Well done Ed, but Shuang forgot to hit the power switch. I can't see the SM "ED"IT: I see how it works now
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Post by Financial Thing on Dec 2, 2015 22:02:40 GMT
Does SS collect interest in advance as part of its underwriting? I think I remember seeing someone mention this on the forum but I've been unable to find the thread or any info. on SS's website pertaining to this?
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Post by Financial Thing on Dec 1, 2015 20:54:24 GMT
At the moment I do not think it really needs one, would much rather they concentrated on buying decent properties There comes a time where someone needs to sell out of an investment so it's a real plus when a platform has a SM.
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Post by Financial Thing on Dec 1, 2015 15:20:02 GMT
propertymoose Will you be introducing a secondary market at any time?
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Post by Financial Thing on Dec 1, 2015 12:44:12 GMT
fundingsecure Or you could just remove premiums, therefore eliminating the tax hassles we will face and the loan flippers and increase the liquidity and movement. Otherwise you will continue to see loans listed for 0.1% return (better than -30% I suppose) and 29 pages of loans with premiums collecting dust. Simple.
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Post by Financial Thing on Nov 29, 2015 2:52:36 GMT
Your opinion is fair, but only considers peer to peer. Yes it does because we are on a p2p forum discussing mainly p2p. You can sell sports tickets and make 60% profit annually or trade stock options and make 1000%.
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Post by Financial Thing on Nov 28, 2015 20:35:40 GMT
In my very humble opinion...
I consider Ratesetter a much safer platform option then SS, MT or FS, and am therefore willing to accept a lower rate as a trade off. For me, being able to sleep at night is worth a lower percentage. Having recently received a "our platform is closing and we will try to resell your loans to cash you out" letter from a platform with a short track record, platform safety remains high up on my priority list.
Also I keep the % rates in perspective. The difference on a £1k investment between 6.5% and 5.5% over 5 years is £70. So if you were willing to invest in a safe platform at 6.5% but not at 5.5%, is £70 the reason why when you factor risk into the equation?
A single event occurrence (ex. big default, owner disappearing) could really damage one of these smaller platforms offering 12% whereas I doubt it would affect the larger long standing platforms.
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Post by Financial Thing on Nov 28, 2015 4:37:27 GMT
Removing the premiums and keeping the discounts will make the SM liquid rather than a place for loan flippers to profit. fundingsecure take a page out of SS's and AC's secondary market playbook as they have done it right.
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Post by Financial Thing on Nov 25, 2015 23:44:55 GMT
If what McLondon says is true, then on every platform you purchase a loan piece, you will be responsible for the tax in the same way as on FS. Unless a certain platform has a special way of handling loan pieces on its statement.
I also agree with ditching premiums. This will make the SM liquidity much better.
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Post by Financial Thing on Nov 25, 2015 19:11:14 GMT
I think if Financial Thing can joke, after possibly losing 25% then fair enough with the puns. agreed, so far I'm in for about £100 per pun.
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