shimself
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Post by shimself on Sept 28, 2014 18:38:26 GMT
In the meanwhile, residence in EU outside UK, ok or not?
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Post by hugoarchover on Sept 29, 2014 14:05:42 GMT
shimself Residence in the EU outside the UK is OK.
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Steerpike
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Post by Steerpike on Oct 10, 2014 19:45:21 GMT
I'm in and made my first pledge.
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Steerpike
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Post by Steerpike on Oct 13, 2014 7:09:58 GMT
This advice on the Archover site can't be followed just now.
"We do recommend that lenders spread their loans across a number of borrowers"
There are five 'projects' on the site, four of which, including the only two that are open, appear to be for the same company.
Each of these four is for increasing sums and there appears to be no explanation as to why the loan is split in to 4 (or more?) or why the size of loan increases each time.
Very sparse site with no information on bid activity other than % funded, no supporting documents on the loan, just a few paragraphs of PR describing the business apparently written by the business, and a few brief notes by Archover describing the T&C variations.
A sort of cross between Ablrate and Wellesley in terms of information available.
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r00lish67
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Post by r00lish67 on Jun 9, 2017 13:49:55 GMT
Had my curiosity roused by some discussion over on Growth Street corner - what's Archover like now, is there still a lack of loans?
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Steerpike
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Post by Steerpike on Jun 9, 2017 13:56:30 GMT
Sufficient deal flow for my appetite, but Archover is not one of my largest platforms.
Currently 2 secured and insured two year deals both at 7%.
Platform minimum investment is still £1,000.
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Nomad
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Post by Nomad on Jul 20, 2017 0:00:48 GMT
Sufficient deal flow for my appetite, but Archover is not one of my largest platforms. Currently 2 secured and insured two year deals both at 7%. Platform minimum investment is still £1,000. I have a largish 5-figure sum coming off term deposit shortly. I'm indecisive - should I roll it over for another year at 1.5% interest with FSCS protection, or place it with Archover at 7% "secured and insured"?
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Steerpike
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Post by Steerpike on Jul 20, 2017 7:08:22 GMT
Sufficient deal flow for my appetite, but Archover is not one of my largest platforms. Currently 2 secured and insured two year deals both at 7%. Platform minimum investment is still £1,000. I have a largish 5-figure sum coming off term deposit shortly. I'm indecisive - should I roll it over for another year at 1.5% interest with FSCS protection, or place it with Archover at 7% "secured and insured"? Of course it depends on many things, including your overall spread of investments and appetite for risk, I have investments with Archover and also with NS&I and 12%, 13%, 14% "riskier" loans elsewhere. It appears that some folk on here are happy to borrow money from the bank at 3% and lend it using P2P at 12%. The Archover home page quotes "No Borrower defaults, No late payments and No losses" but nothing in P2P is as safe as FSCS backed savings and Archover also state "Your capital is at risk and interest payments are not guaranteed".
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Post by bobthebuilder on Jul 20, 2017 7:12:53 GMT
If you decide to go down the FSCS-protected fixed deposit route, you can definitely do better than 1.5% at the moment. Both Al Rayan and BLME are paying 2.0% on one year funds, although not everyone is comfortable with Islamic banks.
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macq
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Post by macq on Jul 20, 2017 12:56:48 GMT
Sufficient deal flow for my appetite, but Archover is not one of my largest platforms. Currently 2 secured and insured two year deals both at 7%. Platform minimum investment is still £1,000. I have a largish 5-figure sum coming off term deposit shortly. I'm indecisive - should I roll it over for another year at 1.5% interest with FSCS protection, or place it with Archover at 7% "secured and insured"? Being nosy but is there a reason for thinking of changing when you risked it before or have you had problems with a loan?
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mary
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Post by mary on Jul 20, 2017 13:38:56 GMT
Sufficient deal flow for my appetite, but Archover is not one of my largest platforms. Currently 2 secured and insured two year deals both at 7%. Platform minimum investment is still £1,000. I have a largish 5-figure sum coming off term deposit shortly. I'm indecisive - should I roll it over for another year at 1.5% interest with FSCS protection, or place it with Archover at 7% "secured and insured"? I like ArchOver due to the insurance they provide as additional back up. However I would not put everything into one platform, or one loan, make sure your P2P investments are diversified.
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m2btj
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Post by m2btj on Jul 20, 2017 15:43:31 GMT
Like you I believe that a well balanced P2P portfolio should be well diversified. I have investments with a number of the major players we see on this forum but have recently considered Archover. There's not a great deal of current feedback on the forum & I would be interested in what members think of Archover. Your thoughts would be appreciated.
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mary
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Post by mary on Jul 21, 2017 9:16:27 GMT
Like you I believe that a well balanced P2P portfolio should be well diversified. I have investments with a number of the major players we see on this forum but have recently considered Archover. There's not a great deal of current feedback on the forum & I would be interested in what members think of Archover. Your thoughts would be appreciated. I have had a good experience so far. Clearly they are a smaller platform, but the proposition is good with insurance and/or security, and once in a loan there is no need to track it regularly. The website is not the best, and you don't earn interest until drawdown, however loan opportunities have markedly increased since they achieved full FCA authorisation. Therefore it remains part of my diversified portfolio, although only a smallish part.
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m2btj
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Post by m2btj on Jul 21, 2017 9:24:10 GMT
Thanks for the feedback Mary. I may dip a toe in as I look to do some rebalancing next week.
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Post by hugoarchover on Sept 19, 2017 15:23:21 GMT
Thank you for all your comments in the forum - we apologise that there has perhaps been a lack of an ArchOver representative on here over the last few months.
We would like to encourage discussion, both positive and negative and will be fully available to answer any questions going forwards.
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