I've just noticed that only 80odd percent of my investments are matched (ie allocated into individual property loans) which leaves of course over 10% UNmatched, which presumably means more prone to platform risk
This goes against the blurb All loans are asset-backed
Does this mean that you have about 30M of lender funds which aren't backed by property loans? (13% of the 240M loan book on todays stats)
Interests declared: I have shares in Assetz, Syndicate Room, The Housecrowd. They are as nothing compared to my investments on and reliance on the good health of many other platforms here.
No, I'd say it means you (and I, and all their p2p lenders) have 10% plus of our money sat in W&Co's ring-fenced client money account with one of the UK's major banks, at zero risk of loss unless the bank went pop. Its the equivalent on say AC of leaving surplus funds in the MLIA pending loan drawdowns - the cash would actually be in AC's client money account.
The W&Co model needs a certain amount of float in the system to fund loans drawing down, and is a (small) contributory factor to the rates at W&Co being a tad lower than other platforms.