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Post by swfab on Feb 17, 2015 23:53:40 GMT
Well, jonbvn, the Monthly market account will take a month to empty but it is going to be a slower process to empty the 3-year account ;-) , even on a monthly basis. I liked RS lenders account controls, despite the awkwardness of the navigation inside the account itself, but that wasn't enough to justify having all my lendings lumped into the same personal loans and business loans and property loans, whether secured or not secured. I've been reading a lot about Zopa and all others that provide p2p personal loans, which is what we (a small group and I) are after for some of our holdings. I do p2b with Funding Circle mostly (+ starting with another platform) and they are not perfect and have their share of issues but I'm comfortable with the level of due diligence (I carry out my own limited DD as well and can query the businesses) and risk assessment that is provided. I have/had no problem with RS targeting more market segments and becoming a or THE platform for all types of loans, if it is really what they are aiming at. Diversification would still be true in such case as lenders would not be lending to a larger RS but to a wider range and diverse type of borrowers. There has to be however a clear separation between those different types of loans and clear information and assessment about the different associated risks, as well as better information from RS themselves on their website as to who they are really servicing and for what maximum amount (ie: 25K for personal loans, 500K for property related loans, 2M for other business loans). None of which is true today. To that effect, westonkevRS, I will now start a new thread, titled "Who does Ratesetter really offer loans to?".
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