starfished
Member of DD Central
Posts: 296
Likes: 216
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Post by starfished on Mar 29, 2021 16:05:33 GMT
In terms of 4th, 5th and 6th on the list (Crowd Property, LoanPad and PropLend), anyone in all 3 and if so how would you compare them?
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Post by Ace on Mar 29, 2021 16:30:18 GMT
In terms of 4th, 5th and 6th on the list (Crowd Property, LoanPad and PropLend), anyone in all 3 and if so how would you compare them? I'm in all 3 and rate them all highly. They are all similar in that they offer property secured P2P loans, all with virtually unblemished records so far (PL suffered a small loss on 1 loan according to their stats). All 3 have sailed through Covid without any issues that I'm aware of. IMO, Loanpad is lowest risk with commensurately lower rates. I use it like a high interest bank account, which is frowned upon but I maintain that its OK in certain conditions (see here for an explanation). One great thing about this platform is there is no cash drag as all funds earn interest as soon as they are committed to an account, even the portion that's not assigned to any loans. I would invest more with CP if it was easier to get funds deployed. Their professional reputation means that they are very over subscribed (usually up to 20 times oversubscribed. I tend to trust this platform more than others, to the extent that I do very little DD on their individual loans now. PL are also very good. One of its differentiators is that you can invest in different risk tranches to suit your appetite. Another is that there is a £1k minimum per loan, which will make them unsuitable for some. Their loans are also often oversubscribed, but they've got a new Auto Invest feature that should help things, but it might take them a while to iron out the wrinkles. In short, I like all 3, and am happy to add funds to all.
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starfished
Member of DD Central
Posts: 296
Likes: 216
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Post by starfished on Mar 29, 2021 16:56:09 GMT
In terms of 4th, 5th and 6th on the list (Crowd Property, LoanPad and PropLend), anyone in all 3 and if so how would you compare them? I'm in all 3 and rate them all highly. They are all similar in that they offer property secured P2P loans, all with virtually unblemished records so far (PL suffered a small loss on 1 loan according to their stats). All 3 have sailed through Covid without any issues that I'm aware of. IMO, Loanpad is lowest risk with commensurately lower rates. I use it like a high interest bank account, which is frowned upon but I maintain that its OK in certain conditions (see here for an explanation). One great thing about this platform is there is no cash drag as all funds earn interest as soon as they are committed to an account, even the portion that's not assigned to any loans. I would invest more with CP if it was easier to get funds deployed. Their professional reputation means that they are very over subscribed (usually up to 20 times oversubscribed. I tend to trust this platform more than others, to the extent that I do very little DD on their individual loans now. PL are also very good. One of its differentiators is that you can invest in different risk tranches to suit your appetite. Another is that there is a £1k minimum per loan, which will make them unsuitable for some. Their loans are also often oversubscribed, but they've got a new Auto Invest feature that should help things, but it might take them a while to iron out the wrinkles. In short, I like all 3, and am happy to add funds to all. Thank you! Looking for a home for RS funds. For the last 10 years aimed to have c.10% (of non-pension savings) in P2P. In recent years that 10% has been difficult to hit due to natural run down of RS and others. I had previously shied away from property/SME only P2P but recently thought I might dip a toe. I'll look into LoanPad/CP more (PL discounted due to the min investment size).
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Post by Ace on Mar 29, 2021 17:57:12 GMT
I'm in all 3 and rate them all highly. They are all similar in that they offer property secured P2P loans, all with virtually unblemished records so far (PL suffered a small loss on 1 loan according to their stats). All 3 have sailed through Covid without any issues that I'm aware of. IMO, Loanpad is lowest risk with commensurately lower rates. I use it like a high interest bank account, which is frowned upon but I maintain that its OK in certain conditions (see here for an explanation). One great thing about this platform is there is no cash drag as all funds earn interest as soon as they are committed to an account, even the portion that's not assigned to any loans. I would invest more with CP if it was easier to get funds deployed. Their professional reputation means that they are very over subscribed (usually up to 20 times oversubscribed. I tend to trust this platform more than others, to the extent that I do very little DD on their individual loans now. PL are also very good. One of its differentiators is that you can invest in different risk tranches to suit your appetite. Another is that there is a £1k minimum per loan, which will make them unsuitable for some. Their loans are also often oversubscribed, but they've got a new Auto Invest feature that should help things, but it might take them a while to iron out the wrinkles. In short, I like all 3, and am happy to add funds to all. Thank you! Looking for a home for RS funds. For the last 10 years aimed to have c.10% (of non-pension savings) in P2P. In recent years that 10% has been difficult to hit due to natural run down of RS and others. I had previously shied away from property/SME only P2P but recently thought I might dip a toe. I'll look into LoanPad/CP more ( PL discounted due to the min investment size). In that case I probably should have mentioned that there's a minimum of £500 per loan when manually investing on CP, but only £50 via auto-invest (though auto-invest does require a minimum of £500 to be loaded into the account to get started). Kuflink might be worth a look as a 3rd option. Their loans have very low minimums, usually less that £10.
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