bugs4me
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Post by bugs4me on Mar 16, 2018 16:24:28 GMT
Hello, Probably there is a thread about it, but when you are looking for a new platform to invest in. How do you choose it? What are the criteria? What are the red flags for you? This may help - the post from mrclondon
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Liz
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Post by Liz on Mar 19, 2018 11:12:50 GMT
Red flags: Loss making, only interim permission, half the loan book in default, fake provision funds.
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seb8072
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Post by seb8072 on Mar 19, 2018 15:17:34 GMT
Red flag: Plethora of criticism on this forum.
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Post by munchydave on Mar 19, 2018 15:59:26 GMT
Keep away from FS and L***y
I have lost a packet with them
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ashtondav
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Post by ashtondav on Mar 19, 2018 16:19:34 GMT
Hello, Probably there is a thread about it, but when you are looking for a new platform to invest in. How do you choose it? What are the criteria? What are the red flags for you? With the exception of FS, which i'm leaving due to their breathtaking incompetence, I will not be straying further than the big four. All the others carry too much platform risk for me.
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Nomad
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Post by Nomad on Mar 19, 2018 16:30:28 GMT
Hello, Probably there is a thread about it, but when you are looking for a new platform to invest in. How do you choose it? What are the criteria? What are the red flags for you? Take a closer look at the ones which attract the least comment here, and offer returns in the 7% to 9% range.
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ashtondav
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Post by ashtondav on Mar 19, 2018 19:06:31 GMT
Hello, Probably there is a thread about it, but when you are looking for a new platform to invest in. How do you choose it? What are the criteria? What are the red flags for you? Take a closer look at the ones which attract the least comment here, and offer returns in the 7% to 9% range. They're the ones that will sink soonest. The safer, lower risk ones are the platforms to go for. If you could get a consistent 9% pa no one would bother with shares. Over a ten year cycle 9% pa is impossible from p2p. Other red flags? Stupid names.
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Liz
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Post by Liz on Mar 19, 2018 19:29:55 GMT
Take a closer look at the ones which attract the least comment here, and offer returns in the 7% to 9% range. They're the ones that will sink soonest. The safer, lower risk ones are the platforms to go for. If you could get a consistent 9% pa no one would bother with shares. Over a ten year cycle 9% pa is impossible from p2p. Other red flags? Stupid names. What like "Thing" 😗
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mason
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Post by mason on Mar 19, 2018 21:20:28 GMT
Take a closer look at the ones which attract the least comment here, and offer returns in the 7% to 9% range. They're the ones that will sink soonest. The safer, lower risk ones are the platforms to go for. If you could get a consistent 9% pa no one would bother with shares. Over a ten year cycle 9% pa is impossible from p2p. I doubt that it's *impossible* over a ten year cycle, but we shall see when there's enough data to make a judgement. I don't think many people expect there not to be an increase in defaults during tougher economic conditions. My issue with the so called "safer, lower risk" ones, assuming I know which ones you mean, is that their rates are currently so low that on a risk adjusted basis they don't seem worth it. I pulled all my money out of RS when it became relatively more risky and that's the only platform that's perceived to be low risk that I've ever used. Of course, people's objectives, investment horizons and attitude to risk differ.
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Post by GSV3MIaC on Mar 24, 2018 21:38:49 GMT
Finding a new platform to invest with/via (rather than 'in') is fairly easy - read the forum, read their T&Cs, and take a (small) punt. Hopefully if you don't like it you can decamp fairly swiftly.
Finding one to stay with has proved rather harder .. many of them have morphed into something horrid (at least to my eyes .. yep, FC/Zopa, that's you, among others), and even if not, then after a while their issues start to be come more apparent. The good platforms are not the ones with no issues (no such platform has yet been discovered), they are the ones which address them and try to fix them (and communicate about it). It's also somewhat 'horses for courses' .. people trying to squirrel away 7-figure sums (decimals don't count) have a whole different set of constraints (and available think-power, probably) than grannies trying to invest their left over weekly pension.
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macro
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Post by macro on Mar 25, 2018 4:17:15 GMT
Hello, Probably there is a thread about it, but when you are looking for a new platform to invest in. How do you choose it? What are the criteria? What are the red flags for you? Thankfully you didn't ask the same questions two months ago. You might well have been referred to Collateral. 
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angrysaveruk
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Post by angrysaveruk on Mar 25, 2018 12:27:33 GMT
I think the biggest risk is Platform Failure or liquidity problems on a platform that is in decline. I have always invested in platforms that I felt where on the UP and had already reached a fairly decent size (in the TOP 10). I would rather put everything in a platform that I think is stable and going places than diversify across smaller platforms. When I first started in P2P I was in Zopa then I moved the bullk of my money into Ratesetter and now I have the bulk of it in AC.
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Post by Deleted on Mar 25, 2018 17:48:39 GMT
before we look at the music box we need to look at the monkey  first, have a really honest talk with yourself about how you like to lose money. If you lost £10k how would you tell your significant other, £100k, how would you feel? If after that discussion you are still happy to bet invest that money carry on. second, how much time do you have? Ten minutes a week, or 4 hours a week. For instance, this week, I spent 2 hours investigating a loan that at the end I declined to take up, are you happy to do this week after week? If no then that decision pushes you towards the managed accounts area. AC/FC might be worth reading up on, I would not recommend FC, but you have to read about a bad thing to be able to recognise a good thing finally do you have basic accounting skills, can you spot BS at a hundred paces? If so then the likes of MT, ABL might be for you. I'd also read about Lendy just to get a flavour of what is available. Good luck, great advice above |
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Post by df on Mar 25, 2018 17:56:09 GMT
I think it is also important to look at how easy it is to exit the platform.
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Post by df on Mar 25, 2018 20:21:33 GMT
before we look at the music box we need to look at the monkey first, have a really honest talk with yourself about how you like to lose money. If you lost £10k how would you tell your significant other, £100k, how would you feel? If after that discussion you are still happy to bet invest that money carry on. second, how much time do you have? Ten minutes a week, or 4 hours a week. For instance, this week, I spent 2 hours investigating a loan that at the end I declined to take up, are you happy to do this week after week? If no then that decision pushes you towards the managed accounts area. AC/FC might be worth reading up on, I would not recommend FC, but you have to read about a bad thing to be able to recognise a good thing finally do you have basic accounting skills, can you spot BS at a hundred paces? If so then the likes of MT, ABL might be for you. I'd also read about Lendy just to get a flavour of what is available. Good luck, great advice above In addition, how flexible you time is? Thinking of FS - highly desirable bling/pawn goes in seconds, and LC - you have to be there at exact minute in order to get the best possible rate.
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