03-09-2018, 07:27 PM
One of Archover's frequent borrowers has been placed in Administration on 30 August. Thanks to elliottm for the details.
12-10-2018, 12:16 PM
Archover appears to be the platform to avoid. Another borrower in adminstration today. I make that 4 out of (my) 14. Going to be interesting to see how the "insured" element of their offering plays out - and all for 6.5%.
1 user Likes liso's post - LloydWright
12-10-2018, 07:39 PM
Archover seemed to me to be one of the 'safer' platforms so this - now 3 out of my 15 - is disappointing.
Steps towards recovery on my other 2 loans in administration seem robust, but I will not be lending more through the platform until there is a positive outcome.
07-12-2018, 04:55 PM
(07-12-2018, 04:18 PM)LloydWright Wrote: I've just completed my first year of investing through Archover. My dashboard tells me I'm earning an average rate of 7.58%. Taking defaults into account, the true rate is currently 4.9%
The IR shown on the dashboard relates only to current investments earning interest and not to all historical investments and does not take account of drawdown delays, rather misleading particularly now that the platform has NPLs.
I have been with Archover for just over 4 years and, excluding referrals and anniversary reward, XIRR has fallen to 5.9% mainly as a result of Ventalution and UK EXIM.
07-05-2019, 04:27 PM
ArchOver is continuously reviewing ways in which we can improve our services and through feedback from both Lenders and Borrowers, we will be making changes to our interest rates.
We have recognised that it would benefit Lenders to simplify the interest rates associated with our Lending Services. These changes are to help Lenders further diversify their portfolio across Businesses, Sectors and Asset Securities.
Below is a summary of the new fixed rates, which reflect ArchOver’s rigorous Credit Analysis procedures that all existing and prospective Borrowers undertake prior to being approved and listed on our Platform:
All rate changes will be effective immediately.
Thank you again for your confidence in ArchOver. Please do not hesitate in contacting us with any questions or for further clarification on these changes.
1 user Likes linexpedition's post - fp
07-05-2019, 05:14 PM
Overall this seems to be an increase in rates, not sure why they are being coy about this and describing it solely as simplification?
Anyway, the Archover USP for me was "Secured and Insured" and the first S&I loan to go bad turns out to have so-so security and the insurance isn't paying out so even though the haircut shouldn't be too disastrous I am still considering whether or not I will invest again.