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Post by mot on May 27, 2019 15:43:46 GMT
I’ve been with lendy for about 3 years..same story ..good at first as SS then dreadful as L etc etc...
can i I ask if anyone out there can recommend a good p2p to invest in? I’ve looked at Crowd property who so far have been brill but just can get enough into them yet due to over subscription
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Post by picanto on May 27, 2019 15:48:51 GMT
P2P carries with it high risk by it's very nature but I'm also invested with RateSetter and Kufflink, both of which have much lower interest rates than Lendy had but I have had no problems with either of them, (touch wood). I feel much safer having money in those two companies than I did with Lendy for a long time, and I was actually quite an optimist (or perhaps just hoping it will turn out good) when it came to Lendy.
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cwah
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Post by cwah on May 27, 2019 15:49:26 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries.
I suppose they are better due to not being restricted with FCA regulations.
Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not like here where it's designed to enrich the administrators
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james21
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Post by james21 on May 27, 2019 15:49:57 GMT
Relendex; excellent, including investor communication and loan management, build up portfolio from secondary market, not lost a penny in over 2 years
Assetz; any product with the provision fund over it
Growth St, again no losses in 2 years
These are the only ones I now invest in with new money
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garfield
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Post by garfield on May 27, 2019 16:01:14 GMT
All (most of) my former p2p cash is now with BondMason. I've got out of everywhere else, apart from Ly.
They were doing p2p, but have given up in favour of Direct Lending, spread across multiple loans in multiple organisations. I'm more than happy to pay a fee for someone else to do the stringent DD required. Been with them for 18 months now, whilst I just sit back and relax...
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Post by df on May 27, 2019 16:10:25 GMT
P2P carries with it high risk by it's very nature but I'm also invested with RateSetter and Kufflink, both of which have much lower interest rates than Lendy had but I have had no problems with either of them, (touch wood). I feel much safer having money in those two companies than I did with Lendy for a long time, and I was actually quite an optimist (or perhaps just hoping it will turn out good) when it came to Lendy. I'm getting a stable return from RS, GS, LW, AC (access accounts). These never failed so far. Despite lower interest rates, my return from these accounts is far much higher that I can possibly get from Ly and Col.
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macq
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Post by macq on May 27, 2019 16:58:14 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries. I suppose they are better due to not being restricted with FCA regulations. Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not like here where it's designed to enrich the administrators The OP may want to check as unless its changed Mintos is not taking new UK investors at the moment
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cwah
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Post by cwah on May 27, 2019 17:00:13 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries. I suppose they are better due to not being restricted with FCA regulations. Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not like here where it's designed to enrich the administrators The OP may want to check as unless its changed Mintos is not taking new UK investors at the moment Ah... So unfortunate. But most of mintos loan book is in euro. So maybe it wouldn t be what he wants. I've been waiting forever for the £ to recover before changing to euro but after 2 years it sounds like it was a mistake to wait and I should have just done that!
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hantsowl
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Post by hantsowl on May 27, 2019 19:25:24 GMT
Relendex; excellent, including investor communication and loan management, build up portfolio from secondary market, not lost a penny in over 2 years. >>> I also use Relendex, but prefer Proplend and Crowdproperty for new money. Also just started with Capitalrise.
Assetz; any product with the provision fund over it >>> I use Assetz, but let’s not forget that Lendy had a provision fund
Growth St, again no losses in 2 years >>> I exited GS due to investment lag resulting in low rates.
These are the only ones I now invest in with new money
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zlb
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Post by zlb on May 27, 2019 20:01:00 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries. I suppose they are better due to not being restricted with FCA regulations. Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not like here where it's designed to enrich the administrators why isn't buy back allowed in UK? If you don't mind me asking.
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cwah
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Post by cwah on May 27, 2019 20:16:01 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries. I suppose they are better due to not being restricted with FCA regulations. Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not like here where it's designed to enrich the administrators why isn't buy back allowed in UK? If you don't mind me asking. I believe it is because the platform is not allowed to have interest in the loans. That's why there isn't any platform here providing buy back. With Mintos, it's simple. I only buy buy-back loans. I know if the borrower can't pay back the company has obligation to pay me back if it's more than 2 months late. It forces the various loan providers to be much more cautious about their loans, or even take themselves loans/bonds to be able to service bad loans! Give me such a better peace of mind!
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p2pmark
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Post by p2pmark on May 27, 2019 20:28:49 GMT
why isn't buy back allowed in UK? If you don't mind me asking. I believe it is because the platform is not allowed to have interest in the loans. That's why there isn't any platform here providing buy back. With Mintos, it's simple. I only buy buy-back loans. I know if the borrower can't pay back the company has obligation to pay me back if it's more than 2 months late. It forces the various loan providers to be much more cautious about their loans, or even take themselves loans/bonds to be able to service bad loans! Give me such a better peace of mind! At Mintos, the buyback is from the loan provider, not the platform. So you're basically lending to the loan provider rather than the borrower - not sure it's (much?) less risky, although it does help with DD as there are fewer firms to research. Are you sure loan buybacks aren't allowed in the UK? I appreciate the platform wouldn't be able to, but I'm not aware of anything stopping a platform hosting a loan provider which did.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on May 27, 2019 20:57:00 GMT
My favourite so far.. is a non uk one. It's Mintos which allow diversification across lenders and countries. I suppose they are better due to not being restricted with FCA regulations. Which means you can decide to put loans on company who have buy back only (not allowed in the uk) and your loans aren't suspended when it start to turn sour. So you got liquidity if you want to escape not likee moment here where it's designed to enrich the administrators Hi I thought the were not taking any new UK investors at the moment ?
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zlb
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Post by zlb on May 27, 2019 21:00:13 GMT
Welendus seems like this which surprised me as I thought it was a practice which could be seen to destabilise .. I read about a UK p2p might have been kuflk who might have been at risk by taking first 5% in default. Is what you're talking about cwah where the platform is the broker between loan provider, borrower and the p2p lender? What if buy back causes the loan provider to go under? Is there usually security, or does that vary? |
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cwah
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Post by cwah on May 27, 2019 21:02:01 GMT
I believe it is because the platform is not allowed to have interest in the loans. That's why there isn't any platform here providing buy back. With Mintos, it's simple. I only buy buy-back loans. I know if the borrower can't pay back the company has obligation to pay me back if it's more than 2 months late. It forces the various loan providers to be much more cautious about their loans, or even take themselves loans/bonds to be able to service bad loans! Give me such a better peace of mind! At Mintos, the buyback is from the loan provider, not the platform. So you're basically lending to the loan provider rather than the borrower - not sure it's (much?) less risky, although it does help with DD as there are fewer firms to research. Are you sure loan buybacks aren't allowed in the UK? I appreciate the platform wouldn't be able to, but I'm not aware of anything stopping a platform hosting a loan provider which did. I believe it's what is called "Conflict of interest" according to the FCA: www.fca.org.uk/publication/consultation/cp18-20.pdfI think I mismatched it with "skin in the game", which is almost always present for Mintos loans provider but not in the UK as well: "platforms (sometimes through parent companies) that hold ‘skin in the game’ (ie they buy a part of the loans they help originate). Even though this can lead to a better standard of due diligence, it can also lead to conflicts of interest if they are able to use the secondary market to sell out early (possibly based on greater access toinformation), rather than holding to maturity"So with Buyback and skin in the game, it's much better than having none of these. Which is the case for most P2P platforms in the UK.
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