Funding Circle

Wilkins

DeanMB wrote: »

What kind of rates are you putting your money in for then?

I've seen a few requests for 12% etc, that's the only range I'd be looking at, as I'm getting 5% on my cash at the minute anyway.

These are obviously high risk (C-), so would I be better using the option to buy existing loan parts, where I can see evidence of loan repayments being made reliably?

Thanks.

I'm not sure if there are any figures on reliability re loan parts and I've had loans default half way through the term in any case. As I say, I don't look at individual loans since I don't rate my ability to judge the borrower. I just set my autobid rates a little higher than the average for each risk band (except for C- where it's quite a bit higher).

DeanMB

Wilkins wrote: »

I'm not sure if there are any figures on reliability re loan parts and I've had loans default half way through the term in any case. As I say, I don't look at individual loans since I don't rate my ability to judge the borrower. I just set my autobid rates a little higher than the average for each risk band (except for C- where it's quite a bit higher).

Great stuff. Don't suppose you could give me a hand with the second part of my original post?

IE - if I lend 100 at 10% over 5 years do i just get £110 back before fees but spread over 5 years? I guess what I'm asking is whether the rate is an annual rate, but I suppose it isn't when I actually think about it.

Wilkins

DeanMB wrote: »

Great stuff. Don't suppose you could give me a hand with the second part of my original post?

IE - if I lend 100 at 10% over 5 years do i just get £110 back before fees but spread over 5 years? I guess what I'm asking is whether the rate is an annual rate, but I suppose it isn't when I actually think about it.

Yes, all rates quoted are annual rates. The exact formula used is somewhere on the FC website.

ChesterDog

I know it has been said, and I even know that you know , but don't forget that you might not actually get it at all...

DeanMB

ChesterDog wrote: »

I know it has been said, and I even know that you know , but don't forget that you might not actually get it at all...

Yes, I know that, but I'm not looking to plough everything into this, just a small portion to give it a go.

I'll still be keeping my FlexDirects topped up and the FD Regular Saver going.