deltron
Member of DD Central
Posts: 54
Likes: 66
|
Post by deltron on Jul 26, 2023 17:28:20 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. Of course you're your own master but at 70 years old it's fairly imperative to prioritise retaining the value of your capital rather than growing it. If things went badly south there's relatively little employment time left to recoup your losses. There's current accounts offering 4.2%, ISAs around 4.5% - all of it guaranteed by the government. Doesn't mean pulling out of P2P completely, but reducing your exposure to a very risky sector is what any financial adviser worth their salt would be saying (most of them would say to get out of P2P altogether!)
|
|
|
Post by gramsky on Jul 27, 2023 7:13:14 GMT
Well following Kuflink's announcement yesterday re minimum investment of £500 I'm thinking of pulling a lot of my money out of P2P. If my theory is correct I can pay it into my present employer's pension scheme which should give me a 40% tax uplift, then retire, transfer the pension to a drawdown pension, take 25% tax free lump sum and trickle the remaining money out over the years at the maximum rate so as not to pay more than 20% tax to supplement my other pension incomes by about £20k per year. So I make 20% profit straight away, which is 3 years worth of P2P interest. Need to do some more research. See my new thread here:- p2pindependentforum.com/thread/20144/paying-lump-company-pension-scheme
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Jul 27, 2023 9:16:59 GMT
We all do our own thing and people have different risk levels (but ) i would agree with others that without knowing what else you have £125k does seem high for your age and brave considering the failed platforms you were in already.So maybe your risk level is high but then i note you say shares are a loser? but not sure if you mean individual shares or funds?.My wife has a very low investment risk level but does have a couple of cheap multi asset funds in the 60/40 range which even with all that has happened over the last few years in the world have - 3 years annualised returns of 3.55% & 3.97% 5 years 4.31% & 4.58% and 10 years 4.88% & 6.67%. So would not call them losers but yes on any day or month etc they have had losses or even better gains but the same could be said for p2p both require time invested for best results but would suggest only One method is truly liquid on selling. As noted from others at the moment you could earn approx 6% on a One year fix which i assume is close or better than CP but certainly with no worries (even 5% with good old NS&I for even more safety) even instant access (or maybe money market funds in pension) and 2 or 3 year fixes are pretty good.You even have products like active savings from HL and Raisin among others which have a supermarket of savings rates from different Banks/BS for ease of running
|
|
liso
Member of DD Central
Posts: 389
Likes: 394
|
Post by liso on Aug 1, 2023 13:32:19 GMT
p2pfinancenews.co.uk/2023/08/01/bristow-secondary-markets-are-dangerous/CP's chief executive claims that through their own research, they learned that "secondary market access is quite low on investors' list of priorities". I wonder who they asked! "secondary markets are dangerous", he claimed, citing problems around availability, pricing, and information. "This is why we will not have a secondary market".
|
|
|
Post by overthehill on Aug 1, 2023 15:37:36 GMT
p2pfinancenews.co.uk/2023/08/01/bristow-secondary-markets-are-dangerous/CP's chief executive claims that through their own research, they learned that "secondary market access is quite low on investors' list of priorities". I wonder who they asked! "secondary markets are dangerous", he claimed, citing problems around availability, pricing, and information. "This is why we will not have a secondary market".
Update to my crowdproperty yes/no exit analysis table, one more to the 'yes' column! What a load of bs ?
|
|
|
Post by drphil on Aug 24, 2023 22:33:14 GMT
For safety there are some good savings rates at present - Fixed Rate Bonds paying over 6% and Fixed Rate Cash ISAs paying just under 6%.
For a good rate in a safer P2P then Loanpad has 5% (from 1st Aug) with easy access (can be next day) and 6% (from 1st Aug) for 60 day access. I realise, of course, you may already be aware of the above 2 options and are looking for higher interest rates.
But then because I still work part-time and have pensions I finish up paying 40% tax on it unless I can get the same rates within an ISA If you are maxed out on ISAs, gilts are worth considering for a 40% taxpayer, though they can be quite complex to understand. They are exempt from CGT and the low coupon ones have a low income tax liability.
|
|
|
Post by Chimponaughty on Sept 20, 2023 13:29:25 GMT
I have been into P2Plending for about 8 years and currently have about £125k invested in P2P ISAs, including £35k plus profits. I am currently invested in Kuflink, LandlordInvest, Proplend and Relendex. I have in the past been in Assetz Capital, Funding Circle and Lendy. I chose these platforms because they all have a secondary market through which I could. if necessary. sell my loans and recover my money (hopefully). I am now looking at CrowdProperty as another platform to either transfer some of my existing investment into or gradually fund with £20k of new money and trickle money in at £500/loans as new loans become available. My problem is that my investment would be locked in for the entire length of the loans and being 70yo am wondering if I should or need to lock my money away for a few years. I also feel that I may be over exposed to P2P but don't know where else to put my money. Can any existing investors in CrowdProperty give some idea of how many loans are issued in a year and what repayment record the platform has eg what percentage of loans run over term and default? Thank you. CrowdProperty are good but no secondary market. Other platforms worth consideration.... Loanpad (up to 60 days notice), Invest & Fund (SM), Crowdstacker (SM), Capital Stackers (SM), Unbolted, Elfin Market, etc. might better suit your liquidity/access needs, and also give you more diversification.
|
|