empirica
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Post by empirica on Aug 2, 2018 10:22:56 GMT
... a 'product' similar to that which 'Lendy Wealth' _ even typing it seem contradictory _ have just soft launched. For BC, I'm thinking sommething along the lines of: # Min £25,000 entry # 90 day withdrawal (subject to Ts&Cs)* # 'Auto-balancing' across all newly live loans (and SM offerings where available) # Return up to 8% per annum Sadly _ and the reason for the mangled subject line _ as much as I may want it, BC don't seem to need to offer it. Their loans seem to fill swiftly _ not so much the pipeline ones, understandably _ and the SM moves along very nicely with practically nil discounting applied. Seems all is currently well with the platform. Anybody else? Any thoughts bridgecrowd?? * _ BC's SM allows for discounting, so if someone wants out, they could give BC permission to apply up to x% discounting to facillitate an exit.
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SteveT
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Post by SteveT on Aug 2, 2018 11:33:28 GMT
I suspect that Bridgecrowd would first require different / additional FCA authorisation to offer that sort of product.
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michaelc
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Post by michaelc on Aug 2, 2018 11:36:51 GMT
... a 'product' similar to that which 'Lendy Wealth' _ even typing it seem contradictory _ have just soft launched. For BC, I'm thinking sommething along the lines of: # Min £25,000 entry # 90 day withdrawal (subject to Ts&Cs)* # 'Auto-balancing' across all newly live loans (and SM offerings where available) # Return up to 8% per annum Sadly _ and the reason for the mangled subject line _ as much as I may want it, BC don't seem to need to offer it. Their loans seem to fill swiftly _ not so much the pipeline ones, understandably _ and the SM moves along very nicely with practically nil discounting applied. Seems all is currently well with the platform. Anybody else? Any thoughts bridgecrowd ??* _ BC's SM allows for discounting, so if someone wants out, they could give BC permission to apply up to x% discounting to facillitate an exit. Bridgecrowd are apparently unable to post or read the forum.
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michaelc
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Post by michaelc on Aug 2, 2018 11:57:53 GMT
Also, why stop at 25K minimum? Why not 250K to keep the riffraff out.....
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empirica
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Post by empirica on Aug 2, 2018 14:16:31 GMT
Also, why stop at 25K minimum? Why not 250K to keep the riffraff out..... It feels like they are already doing that with their min £5,000 per loan pricing. :-(
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phil
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Post by phil on Aug 2, 2018 14:44:55 GMT
Not for me I'm afraid, I like the simplicity of the current model, I know exactly where each of my £5k chunks are going and I can easily steer clear of loans I'm not interested in.
For BC a more complicated model will likely raise their overheads and lessen our return.
My main and overriding concern is that BC maintain high integrity of the platform and don't go the way of Collateral.
Tweaking about and complicating the way we invest could break something that isn't broken.
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Monetus
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Post by Monetus on Aug 2, 2018 14:48:28 GMT
In this post: p2pindependentforum.com/post/259023/threadLouis mentioned: "We have actually applied for many additional permissions (including EP2P so that we can offer ISAS) and within the next 6 months we intend to launch a new site and new brand with a wider variety of products and new offerings. I hope and expect that all our current investors will be very impressed and stay with us for a long long time" So looks like BC may have a new product offering coming fairly soon (although not necessarily a proposal similar to this).
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IFISAcava
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Post by IFISAcava on Aug 2, 2018 15:13:13 GMT
I like BC a lot.
However, I have withdrawn funds due to the lack of an IFISA. Essentially, I am aiming for all my P2P to be in tax free wrappers.
So what I want/need from BC is an ISA. I *think* they have one on the way. Really hope it's soon.
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pom
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Post by pom on Aug 2, 2018 15:31:44 GMT
I had a similar thought when I read about Lendy Wealth because I'd certainly trust BC a heck of a lot more than L to deliver....but then I figured anyone with 50k+ who uses auto-invest probably already has better than what Lendy are offering anyway - relatively hands off on a platform that continues to be one of the best at recoveries, none of this capped target rate malarkey and generally a far better chance of getting out in less than 365 days.
But to be honest anyone talking about wanting smaller more variable amounts in each loan - either lower minimum or auto-balancing - is missing the point of why BC have been successful: because they've kept it simple. It works because they don't have thousands of small investors taking up disproportionate amounts of time. To open the gate to everyone would be to break it. If the minimum stake is too much, or gives you any concerns at all, just don't go there. Because however good they are at recoveries there is sure to be a loss eventually, and you don't want to be overinvested when it does. There's already plenty of people on this forum kicking themselves for over investing in defaulted loans or having had too much COL, just because they've got away with it elsewhere.
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empirica
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Post by empirica on Aug 2, 2018 15:46:20 GMT
I do agree pom , but ... My desire is entirely selfish, I know. It would take me a while, but I could build up a portfolio of 20 loans under the current arrangement and I'd be happy with that. My 'concern' is the over exposure in the (earlier) part of the ramp-up to that £100k investment. What I'd prefer _again selfishly _ is to be able to throw £25k chunks BC and limit my per loan exposure that way. Yes, I could ask that they simply drop the min loan limit down to 1 or 2 £k, but that would open the gates. At least having a £25k entry would reduce that administrative overhead of hundred of new investors to deal with and the other benefits _ administratively speaking _ is that if it were a so-called 'black box' arrangement, the chances are that admin levels may drop as lenders wouldn't be after updates on defaulted loans every-other-day. Like I say, it's kind of selfish and just me being a little impatient. I suppose what I could do is invest £7k in a loan and sell off £5k after one month and build a lower cost per loan portfolio that way? (OK _ by my own yardstick I'd be overexposed for that month, but what can go wrong in 30 days? )
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SteveT
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Post by SteveT on Aug 2, 2018 16:48:40 GMT
Nope, it’s £5k chunks only (£5k, £10k, etc)
BC has always had a refreshing policy of “KISS”, which I hope is maintained.
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gb007
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Post by gb007 on Aug 2, 2018 17:54:41 GMT
empirica have you looked at hnwlending Auto Invest? 7% pa - Min £10k or £5k in an ISA From HNW FAQs: "Auto_Invest loan invests in a minimum of 15 loans on the HNW Lending platform and has a maximum exposure of 10% of its value in any one loan. When one loan repays, Auto_Invest will purchase another loan so that it remains fully invested. The loans in which it invests will all have a Director's first loss tranche in line with the remainder of the loan available for direct investment on the HNW Lending platform. To withdraw capital, investors should sell their participation on the secondary market."
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pom
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Post by pom on Aug 2, 2018 18:20:23 GMT
Nope, it’s £5k chunks only (£5k, £10k, etc) Except for the leftover scraps anyway
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pom
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Post by pom on Aug 2, 2018 18:35:50 GMT
empirica - not sure how long you've been at this but yes you do sound a little impatient. There is a reason why instant diversification is never going to happen, it takes time to find good loans - perhaps it's just me but whenever I've come across a new platform with a LOT of loans available to choose from in a short time I've instantly dropped the amount I invest per loan. And I am quite sure there is a good reason why I can't think of any platform that currently offers to rebalance loan holdings - it would probably get very complex (and therefore expensive) very quickly. I think I saw that Lendy are intending to offer it but I am extremely skeptical as to how well it would work, especially when most of their new loans these days are DFL tranches. Just like now everyone would likely be needing to rebalance the same loans. Way I see it better to have some cash drag and not have as many loans as you want right now than overinvest in any loan/platform - because as we now all now, things can go wrong at both levels in ways we could never previously have predicted. And there's always new ways to fail.
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empirica
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Post by empirica on Aug 2, 2018 18:45:57 GMT
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