jester
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Post by jester on Apr 29, 2024 13:22:17 GMT
I admit I've been letting my autoinvest run on a few platforms with limited monitoring Unbolted, Kuflink, Loanpad & Crowdproperty.
Just tying up my year end and Crowdproperty stands out as an underperformer in terms of return and the heavy number of defaults, many lengthy!
I see some have voiced issues here, what's the consensus .... standard lending issues or YET ANOTHER platform with impending problems?
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Post by scepticalinvestor on Apr 29, 2024 13:25:35 GMT
All good, nothing to see here......
Jokes aside, of the many examples we have over the past many years, I don't think general consensus has a good track record of predicting platforms going 'bad' until they did.
That isn't to say the average investor is clueless, it just reflects the huge relevant-information-imbalance between the platform (and borrower to a lesser extent) Vs the individual lender.
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scooter
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Post by scooter on Apr 29, 2024 14:05:41 GMT
Hi, Standard lending issues, with a touch of arrogance and eyes wide shut. But there is nothing you can do about it without a secondary market so buckle up for a rocky ride....
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Post by overthehill on Apr 29, 2024 14:35:42 GMT
Hi, Standard lending issues, with a touch of arrogance and eyes wide shut. But there is nothing you can do about it without a secondary market so buckle up for a rocky ride....
Well there is something you can do about it... stop buying tickets to visit the volcano despite the warnings of pressure buildup and imminent eruption !
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scooter
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Post by scooter on Apr 29, 2024 15:18:10 GMT
Hi, Standard lending issues, with a touch of arrogance and eyes wide shut. But there is nothing you can do about it without a secondary market so buckle up for a rocky ride....
Well there is something you can do about it... stop buying tickets to visit the volcano despite the warnings of pressure buildup and imminent eruption !
You are quite right! I should have said nothing else you can do about it. Even stopping buying into the dream is a bit like trying to put a cork back on a champagne bottle. But lets not cry over spilt milk. There is always a pot of gold waiting for us at the end of the next rainbow.....
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p2pfan
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Full-Time Investor
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Post by p2pfan on Apr 29, 2024 16:50:14 GMT
I am not worried about CrowdProperty. While there are admittedly a fair number of overdue loans, IMHO the team behind CP know their beans and will be able to get these loans to pay back.
I've had a substantial sum pay back from multiple loans in the last week, and hoping that this is a sign of an upswing.
Also, the fact that CP has quite a few institutional funders, who will have done extraordinary amount of due diligence, provides reassurance + capital to fund projects through to completion.
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dave2
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Post by dave2 on Apr 29, 2024 17:39:49 GMT
Well there is something you can do about it... stop buying tickets to visit the volcano despite the warnings of pressure buildup and imminent eruption !
You are quite right! I should have said nothing else you can do about it. Even stopping buying into the dream is a bit like trying to put a cork back on a champagne bottle. But lets not cry over spilt milk. There is always a pot of gold waiting for us at the end of the next rainbow..... "Buying into a dream" is not a sensible reason for lending money through a peer to peer platform.
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Nomad
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Post by Nomad on May 1, 2024 13:20:08 GMT
I am not worried about CrowdProperty. While there are admittedly a fair number of overdue loans, IMHO the team behind CP know their beans and will be able to get these loans to pay back. I've had a substantial sum pay back from multiple loans in the last week, and hoping that this is a sign of an upswing. Also, the fact that CP has quite a few institutional funders, who will have done extraordinary amount of due diligence, provides reassurance + capital to fund projects through to completion. I am worried - £16K overdue and just £163 received YTD.
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firedog
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Post by firedog on May 1, 2024 13:28:25 GMT
I am not worried about CrowdProperty. While there are admittedly a fair number of overdue loans, IMHO the team behind CP know their beans and will be able to get these loans to pay back. I'm not worried about CrowdProperty, or that the money - give or take a couple of bad apples - will eventually be returned. What dissuades me from further investment at the moment is the lack of vigour about repayments and communication. We all understand the mantra about property loans: they're often subject to delays. But my very first investment in CrowdProperty, back in 2019, was for an investment that I think initially ran for 18 months or so. I still haven't seen a penny back, and I make that nearly five years. Kuflink gets a lot of criticism, and it's a low bar, but in my experience are far better in communicating and eventually resolving late loans. Long and short of it is that I can't see myself putting in money tomorrow and wondering if I'll see it again before 2030.
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scooter
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Post by scooter on May 1, 2024 14:03:38 GMT
My main concern is the lack of transparency. On top of that "no loss of capital" is a mantra all P2P promote themselves on, but when I lend money to my nephew, it is interest free for as long as necessary, when I invest in P2P it should not be the same.
Invest for 2 years and get your capital back in 5 years, but we spent so much on legal costs etc that we can't cover the interest let alone the penalty interest we promised is a terrible investment and they will still be shouting about "no loss of capital".
We need can kicker stats.
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Post by Ace on May 1, 2024 14:32:36 GMT
My main concern is the lack of transparency. On top of that "no loss of capital" is a mantra all P2P promote themselves on, but when I lend money to my nephew, it is interest free for as long as necessary, when I invest in P2P it should not be the same. Invest for 2 years and get your capital back in 5 years, but we spent so much on legal costs etc that we can't cover the interest let alone the penalty interest we promised is a terrible investment and they will still be shouting about "no loss of capital". We need can kicker stats. I do take your point that there are many loans that are long overdue, too many, but, to add balance: CP have declared a capital loss on one loan, and lenders in other loans have been told that capital losses will come. Also, their stats do clearly state that they anticipate a loss rate of 1% of capital. So, it's not really fair to say that all P2P firms promote themselves on "no loss of capital". Even though over half of my currently invested funds are overdue: I've invested in 212 different projects over the past 5 years. 130 of those have fully repaid. On average my funds have been deployed and recycled through 2.5 projects (I.e. total lent is 2.5 times current outstanding balance). So, it's not the case that funds in a well diversified portfolio are generally tied up for 5 years.
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scooter
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Post by scooter on May 1, 2024 16:30:20 GMT
My main concern is the lack of transparency. On top of that "no loss of capital" is a mantra all P2P promote themselves on, but when I lend money to my nephew, it is interest free for as long as necessary, when I invest in P2P it should not be the same. Invest for 2 years and get your capital back in 5 years, but we spent so much on legal costs etc that we can't cover the interest let alone the penalty interest we promised is a terrible investment and they will still be shouting about "no loss of capital". We need can kicker stats. I do take your point that there are many loans that are long overdue, too many, but, to add balance: CP have declared a capital loss on one loan, and lenders in other loans have been told that capital losses will come. Also, their stats do clearly state that they anticipate a loss rate of 1% of capital. So, it's not really fair to say that all P2P firms promote themselves on "no loss of capital". Even though over half of my currently invested funds are overdue: I've invested in 212 different projects over the past 5 years. 130 of those have fully repaid. On average my funds have been deployed and recycled through 2.5 projects (I.e. total lent is 2.5 times current outstanding balance). So, it's not the case that funds in a well diversified portfolio are generally tied up for 5 years. Good points, well made. 1% of capital still does not really reflect the loss of the interest which is why we invest in the first place. Never even gets mention.
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jcb208
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Post by jcb208 on May 4, 2024 7:29:34 GMT
Four more late loans kicked down the road again, I'm beginning to think If some of these loans will repay anything
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Post by overthehill on May 4, 2024 9:33:15 GMT
So where do receivers advertise properties apart from their window ?!
Loan for Qu* road, Cho* is 2.5 years overdue and is now with receivers receiving offers. And yet according to every internet search engine it doesn't exist and isn't for sale !
Is it a secret club or maybe darkweb only.
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scooter
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Post by scooter on May 4, 2024 10:05:51 GMT
So where do receivers advertise properties apart from their window ?!
Loan for Qu* road, Cho* is 2.5 years overdue and is now with receivers receiving offers. And yet according to every internet search engine it doesn't exist and isn't for sale !
Is it a secret club or maybe darkweb only.
Apex27 P**k V**w apartments. I think its advertised to developers. I couldn't see details of price etc.
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