|
Post by Financial Thing on Aug 4, 2016 12:09:34 GMT
|
|
|
Post by Financial Thing on Aug 3, 2016 17:49:36 GMT
Just move the forum to American soil and then the forum will be protected by the good old 1st Amendment Right To Free Speech. Problem solved
|
|
|
Post by Financial Thing on Aug 1, 2016 14:01:15 GMT
stevefindlay Can you clarify the Bond Mason is not regulated or authorised by the FCA? Will BM become a part of the FCA and if not, what is the reasoning?Can you provide an update to FCA status? thanks
|
|
|
Post by Financial Thing on Aug 1, 2016 11:45:33 GMT
For those looking at AC, as I understand it, just because your money goes into QAA doesn't mean it's earning interest. If there is no loan availability, you won't make anything on your QAA money. Not correct. If it's in the QAA (as opposed to queued, on occasions when the account is full) then it's earning interest. thanks for clarifying, is this the same for the GBBA?
|
|
|
FundingSecure (FS) in Administration
FS future
Jul 15, 2016 22:13:10 GMT
Post by Financial Thing on Jul 15, 2016 22:13:10 GMT
I think FS is going to have a tough time filling all these property loans. Too much property saturation in the market. I also worry about recovery on defaults. The 2 defaulted property backed loans I hold haven't resulted in any recovery and it's been several months.
Only time will tell.
|
|
|
Property Moose
SPV 52
Jul 15, 2016 21:59:52 GMT
Post by Financial Thing on Jul 15, 2016 21:59:52 GMT
pom I haven't read all the docs but I'm wondering why the developers would need PM lenders' measly £343k investment?? It's also close to a sewage treatment plant. Let's hope the development is upwind?
|
|
|
Post by Financial Thing on Jul 14, 2016 14:44:57 GMT
Hi littleoldlady , We put two loans up today, one is still available and the other was a smaller loan where we tested a bid limit of £50. Many thanks, Gordon collateral, will you be setting the bid limit as a percentage of the total loan amount?
|
|
|
Post by Financial Thing on Jul 14, 2016 14:43:47 GMT
I think some people here need to have a little patience when requesting website improvements. Implementing these tech changes isn't just a case of typing some code into a text doc or clicking a tick box. These Fintech websites operate on complicated coding platforms and changes like bidding limits take time to implement, especially if the web coding is outsourced. I'm sure Gordon wants to keep his lenders satisfied but things take time. Judging by current supply, it seems like there will be plenty of future loans to go around. People are not playing fair and gobbling up the loans before anyone else has a look in - you can't blame them, the systems flawed and needs to be changed - I think it's just people are used to the MoneyThing nano second response time I hear you. People will never play fair when their money is involved. I think you'll find some of these p2p operations have relatively small tech teams (if any). MT is unlike any of the other sites in that regard. Most of the other sites started with no bid limits, maybe Collateral didn't think the demand would be so high.
|
|
|
Post by Financial Thing on Jul 14, 2016 14:21:24 GMT
I am more than a little concerned to read this. Could you please explain what types of non p2p products you are placing BM's clients into? Are you lending our money to cousin Alfie down the pub (hopefully not)? I can appreciate you taking measures to meet BM's demand but this decision veers away from why I invest in a p2p platform. It makes me uneasy to hear as a p2p company, you are drifting away from your investment business model and I think it's reasonable for lenders to know where you are allocating their funds. Financial Thing To respond: (and please see my comments to Jonah above) "Could you please explain what types of non p2p products you are placing BM's clients into?" Asset-backed and property-backed loans in the first two instances. "Are you lending our money to cousin Alfie down the pub (hopefully not)?" No - and I'm actually a little offended by that comment (I'll assume it was intended as a joke). But to keep the tone light - Alfie down the pub wouldn't pass our due diligence process. Both of our non-P2P Platforms are experienced lenders / investors - specifically, one is regulated for, inter alia, "Entering into regulated credit agreement as Lender" and "Exercising/having right to exercise lender's rights and duties under a regulated credit agreement" (i.e. the traditional forms of lending permissions, before P2P came about). The other company acts very much as a Principle in its loans - i.e. the Directors personally invest a significant amount into every loan, and keep hold of that position until full repayment (we really like strong alignment). If it helps: we wouldn't approve Equity Crowdfunding platforms that do Bonds. Or mini-bonds. Etc. Equity risk at debt returns. Not good. You can't turn bad credit into good credit by charging higher interest rates. Our approach is conservative, which is why 7.0% is the target; not 10%+. Many clients use BondMason as part of a cash-management strategy / pension strategy / savings strategy. We are conscious of this in our investment approach. "I can appreciate you taking measures to meet BM's demand but this decision veers away from why I invest in a p2p platform" Its always been our strategy to work with any lender which can demonstrate good risk-adjusted loan opportunities, understands credit, and has a focus for smaller loan sizes (sub £5m). We are not concentrated on P2P Platforms only. We are very pleased to be the first / only platform doing this. "you are drifting away from your investment business model" I'd politely disagree. Please see above. "I think it's reasonable for lenders to know where you are allocating their funds" We do this. Steve, thanks first your comments. I'm a little tired of p2p companies lack of transparency and the "oh we'll just do this and that without clearly letting our customers know or clearly writing about it on our website" so excuse me if I'm a little salty. The pub comment was obv. a joke. You shouldn't take offense as this is just business, nothing personal. People are giving you their hard earned money; you are a stranger to me and if things were reversed, you would be asking questions about things that concern you.
|
|
|
Post by Financial Thing on Jul 13, 2016 13:15:58 GMT
I think some people here need to have a little patience when requesting website improvements.
Implementing these tech changes isn't just a case of typing some code into a text doc or clicking a tick box. These Fintech websites operate on complicated coding platforms and changes like bidding limits take time to implement, especially if the web coding is outsourced.
I'm sure Gordon wants to keep his lenders satisfied but things take time. Judging by current supply, it seems like there will be plenty of future loans to go around.
|
|
|
Post by Financial Thing on Jul 13, 2016 12:58:39 GMT
What we are doing to fix it(1) New platforms: We are bringing on 3 new platforms ( 2 of which aren't actually P2P platforms; but are specialist lenders that we've established a relationship with). I am more than a little concerned to read this. Could you please explain what types of non p2p products you are placing BM's clients into? Are you lending our money to cousin Alfie down the pub (hopefully not)? I can appreciate you taking measures to meet BM's demand but this decision veers away from why I invest in a p2p platform. It makes me uneasy to hear as a p2p company, you are drifting away from your investment business model and I think it's reasonable for lenders to know where you are allocating their funds.
|
|
|
Post by Financial Thing on Jul 11, 2016 21:35:02 GMT
Just posting honest results here After almost 2 weeks, got less than 10% of my initial deposit allocated into loans in first few days, nothing further allocated in a week. Seems like the demand is much higher than the supply. Disappointing so far. Dare I ask, how much you invested? £1k
|
|
|
Post by Financial Thing on Jul 11, 2016 15:52:54 GMT
Just posting honest results here
After almost 2 weeks, got less than 10% of my initial deposit allocated into loans in first few days, nothing further allocated in a week. Seems like the demand is much higher than the supply. Disappointing so far.
|
|
|
Post by Financial Thing on Jul 6, 2016 12:50:12 GMT
Get your cash ready; the stock market might soon present you with some amazing opportunities.
|
|
|
Post by Financial Thing on Jul 5, 2016 22:50:25 GMT
In 2007/8 it was widely repeated that what was important was a 'return OF capital' rather than a 'return ON capital'. What we are seeing now includes: 1. Massive sterling devaluation 2. Slow motion implosion of Italian banks ( with ~€360 B bad loans will they do a Cyprus and confiscate deposits?) 3. Capital flight and unsustainable debts from China 4. Deutsche Bank share price closely following Lehman's before it collapsed and triggered the 2008 depression 5. Tanking UK bank shares- many are down 95%+ from their peaks 6. Rapid drop in value of UK property funds and house-builders 7. Restrictions on withdrawals from property funds So, on the upside, 10%+ annual interest on investments On the downside, another (at the minimum) property crash and possible disappearance of liquidity as with 2008. So yes, I have VERY cold feet and I'm liquidating all my property-linked P2P investments. If I'm wrong, I may lose a few months interest, but if I'm right then I may have saved myself from losing a large portion of my investments. If your doom and gloom predictions come true, why would you put your money in the bank? If banks were to collapse, no guarantee that the gov. will be able to cover all the loses as people panic withdraw.
|
|