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Post by Financial Thing on Aug 18, 2015 21:19:45 GMT
A waft of greed is lingering. It's only money. Aernt you a trifle warm? Thought you turned up in full plate to do battle as an investors champion but on closer inspection it appears to be unseasonal knitwear. Must admit, it's a bit balmy (and barmy) in this garb but looking cool is the #1 priority.
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Post by Financial Thing on Aug 18, 2015 21:05:14 GMT
A waft of greed is lingering. It's only money.
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Post by Financial Thing on Aug 18, 2015 17:47:59 GMT
hmm...reminds me of the property boom in 2004-6 when houses put up for sale were gone in a matter of minutes / hours.
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Post by Financial Thing on Aug 13, 2015 15:00:22 GMT
propertymooseJust got the email thanks - can't tell if it only went to people already invested in the property or not... Everybody, I wasn't in this property but got the email Funded now
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Post by Financial Thing on Aug 13, 2015 1:41:12 GMT
I just mirror the investments james does. What could possibly go wrong?
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Post by Financial Thing on Aug 12, 2015 20:21:21 GMT
Seems to me that every platform has its pro's and cons, most of which you listed. This is only my opinion only of course as I have invested money in each of these:
Savings Stream:
At present you are lending to SS / Lendy rather than to the borrowers so lack of ring fencing / platform failure is a real concern. But for a 12% return, you have to accept a higher risk.
Funding Circle:
I've recently started to invest more on this site. The steady inflow of new loans and increasing loan book size shows the company is growing which would indicate long term longevity and therefore, I would consider FC high in the safety range, maybe as high as Ratesetter now. I like the fact they operate in the U.S. also. I was cautious against loaning to unsecured businesses at first, but now I understand how the system works, no issues in that respect. I also believe FC's loans are of better quality than some of the other B2B sites and I haven't had many default issues (unlike some other sites). Sometimes we become so wrapped up in money so it's nice to know you are helping the growth of UK small businesses here.
Rebuilding Society:
Lack of new loans makes me question how the company can sustain / grow, especially competing against FC, plus the website isn't great.
Assetz Capital:
Had a very bad experience here regarding AC allowing Secondary Loans to be sold that were in default, but not presenting the default information clearly. Essentially I bought defaulted loans without knowing it. I'd rather invest in with FC at this point.
Lending Crowd:
Invested a little here but saw little growth in loans so withdrew.
Property Moose:
I like the business model / staff and the risk seems acceptable. Not too many new deals but hoping for the best here but since it's relatively new, only time will tell.
Property Partner:
Low returns and relatively high fees
Funding Secure:
I stay away from the loans I don't understand such as art, wine, books etc. I imagine the defaults will be on these types of loans.
Moneything:
The level of communication here is second to none. Also withdrawals are lightning fast. These two pro's give me confidence that the business is being operated well and gives me confidence. The website is simple and easy to use. Hopefully a secondary market will be added soon. I have no issue in placing money here.
Mintos:
Offers secured loans with buy backs (car loans). Currency risk is an issue but the returns are favorable. The website is easy to use.
Bondora:
I invested a small amount but only invested 20% of the funds and withdrew them. I don't like the website plus the default rates are sky high.
Hope that helps
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Post by Financial Thing on Aug 12, 2015 14:04:50 GMT
oldgrumpy There were reported OG sightings at this beach over the weekend
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Post by Financial Thing on Aug 12, 2015 13:44:58 GMT
Whilst the obvious risk with that platform is NH herself (a marmite persona), and I suspect that factor alone puts off most forumites, there must be more reasons why Money&Co doesn't get a mention on threads such as this.
That's being a bit rough on Marmite
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Post by Financial Thing on Aug 12, 2015 11:47:50 GMT
mrclondon I suppose I should put on my hat and go sit in the corner now Seriously though, apologies for my statement, it was far too vague and somewhat tongue in cheek. I didn't intend to scare anyone as I know little more than the garden gnome. I should clarify my statement on why I think SS is so very risky. 1. You are lending to Lendy rather directly to the borrowers and as I understand, there is no ring-fencing on your investment. If Lendy goes bust, who knows what would happen. I know nothing about the financial state of the company or their backing (no info. on the website). From SS's website, the 2 Board members of SS have degrees in Marine Engineering / eCommerce and Relations & Politics and other than that there is no further information. Compare this experience to the Board on a company such as Wellesley & Co, I consider this to add to the risk. So I think it is fair to surmise that handing over money to a company like this is high risk. As competition become more fierce and new P2P platforms are opening their doors, new loans are becoming less frequent meaning a company like this will struggle without a constant influx of new opportunities for investor to reinvest in (see Ablrate). 2. Nearly all new loans are property / land with higher LTV's. This mean lack of diversification. If the property market bursts or the economy struggles, defaults could be a major issue. Oh and not to mention you are being paid 12%. So yes, to me this is very high risk. But nothing will go wrong until something goes wrong.
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Post by Financial Thing on Aug 11, 2015 18:16:47 GMT
propertymoose Just to let you know I haven't been receiving any emails regarding new investments etc.
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FundingSecure (FS) in Administration
Defaulted loans
Aug 7, 2015 22:40:53 GMT
Post by Financial Thing on Aug 7, 2015 22:40:53 GMT
My pops was a pawnbroker. Defaults are just the name of the game.
With high interest comes high risk.
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Post by Financial Thing on Jul 29, 2015 13:58:13 GMT
All I can say is...ugh These are supposed to be Fintech companies. Quite ironic they can't get their web hosting sorted.
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Post by Financial Thing on Jul 27, 2015 22:59:30 GMT
Is the Mogo buyback offer still ending July 31st?
Also if I buy on the secondary market, does the buy back still stay in place?
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Post by Financial Thing on Jul 27, 2015 17:37:08 GMT
wonder if they ran off to the Caribbean with our money?
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Post by Financial Thing on Jul 27, 2015 17:18:55 GMT
Anyone else having trouble logging in?
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