Post by jlend on Jul 22, 2021 8:01:37 GMT
Jun 27, 2021 19:53:09 GMT df said:
Makes it 8.67% (target), probably worth risking 1k, but very little feed back on this forum and their website doesn't seem to be very informative. It could be good to know more about the loan book, diversification, etc. before investing. Just FYI. Am not sure how useful this is to be honest.
There doesn't seem to be any bad reviews on google or trustpilot. But there aren't many reviews
My £9800 currently invested is split across 15 loans. I have had some loans pay back since I started. There is a Borrower ID so you could go through and see what this tells you in terms of diversification. You can see if it is a tranche of a larger loan. All depends what effort is worth doing for accounts like this.
I don't know what diversification you would get if you only invested 1k. Remember this isn't something the scale of AC and doesn't continually diversify across the whole active loan book.
Some is waiting to be invested which would tip me over the £10k,but it still pays the 5.12% on the £9800 rather than the lower interest rate. The 15 i am in are rated from A to C. All are currently flagged Active. You don't get interest on money yet to be invested in a loan, so there may be a little cash drag at times, i don't know how much and how often as i am very hands off with this account.
Not had any issues withdrawing cash, which is what others have also said and as per their website. Liquidity is never guaranteed in p2p and past performance... Putting aside any analysis of the loan book and platform scale etc, quite fascinating to compare the hassle AC had with liquidity on their access accounts vs Easymoney and Loanpad. I am not sure what to deduce from that though.
Definitely really a black box account so not everyone's cup of tea even for a small investment. You don't get to choose what loans you are invested in. The loans and mix didn't change as it auto switched from one lender rate to the next. The rate switches once a month on the date you get paid interest. You are just getting a higher rate for investing more.
Nothing much else to add that hasn't already been commented on by others. I haven't heard if anyone has attempted to do any serious due diligence across a cross section of their loans vs their published stats, or asked Easymoney about a particular loan. I don't have any plans to do that to be honest. You obviously get a lot more info about each loan with AC and even with Loanpad. You never got much from Ratesetter to be honest.
Can't imagine me putting more in, but that is purely a personal thing and we all have our own appetite for risk and the amount of money we invested so i wouldn't read anything into the size of my investment.
Just FYI
Ticked up from 15 to 17 loans as some of the uninvested cash got allocated. Interesting that it looks like interest payments take priority for investing which is good if true.