bob76
Posts: 103 
Likes: 22
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Post by bob76 on Sept 2, 2015 16:30:01 GMT
Hi,
I currently have most of my P2P investment money in Funding Circle and Assetz.
With FC, I am currently achieving 9.8% return after loss and fees. I am mainly investing in property loans now, so low losses, and a few opportunities each week.
With Assetz, I am currently achieving 11.5% return. However, not many investment opportunities available (have to be very slow at adding funds) and many loans now seem in trouble.
I had an investment with Rebuilding Society, but sold most of it now. I realised that the asset security was quite poor in many cases (e.g. second charge, personal guarantee etc), and also the website looks terrible and does not improve. I don't really trust them to be honest.
What other good P2P platforms are available for asset backed loans, with returns >10%?
Thanks,
Bob
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Post by Butch Cassidy on Sept 2, 2015 17:34:11 GMT
Both Money thing (Pawn broker items & gold/jewellery & a few cars) & Savings Stream (mainly property & land) offer 12% fixed rate, they are both small but growing fast & have dynamic & helpful management - I invest in both & if you can accept some growing pains they are great sites IMHO. I've just registered with Abirate but not yet invested as neither of the 2 available deals takes my fancy. Mintos is based in the Baltic but is moving to London soon & provides Euro based car & property backed assets in the 9-16% range - I have a small test investment & all looks good so far. All these have threads on this forum, which I'd advise you read before committing Hope that helps
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Post by Deleted on Sept 2, 2015 19:03:26 GMT
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Post by meledor on Sept 2, 2015 19:08:26 GMT
Ablrate, ThinCats and Saving Stream are the ones I use.
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bob76
Posts: 103
Likes: 22
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Post by bob76 on Sept 3, 2015 7:22:47 GMT
Thanks, I am trying Saving Stream.
Seems very good so far:
* Great rate (probably not sustainable)
* Very fast loading of money
* Very fluid second market (to buy or sell)
Negatives:
* the loan pages don't show how much investment we already have in a specific loan, so that's an issue
* Quite a few loans are well overdue in term of repayment, and there is no update whatsoever...
People seem to be concerned that lenders are lending to Saving Stream/Lendy, as opposed to the borrowers, but isn't it the same with all platforms? Since we usually only buy loan parts as opposed to whole loans, usually the loan/agreement is between the lending platform and the borrower.
Regarding ThinCats, the minimal £1,000 investment per loan is an issue for me, as would not allow for proper diversification.
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SteveT
Member of DD Central
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Post by SteveT on Sept 3, 2015 7:45:23 GMT
People seem to be concerned that lenders are lending to Saving Stream/Lendy, as opposed to the borrowers Have a look at yesterday's "new Terms & Conditions" post by Saving Stream in the SS sub-board, which previews their new Trust lending structure (ie. true P2P) that will fix this.
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Post by brettb on Sept 13, 2015 7:49:24 GMT
I've done well with Funding Secure over the last year. Ablrate spent all their effort building a new website instead of finding new things to fund. I worry about this one  . Rebs is OK but after quite a nasty default from buying an existing loan, I now have a strict policy of placing high bids - I don't usually go below 16%. Also you can sometimes pick up bargains in the secondary market if there are forced sellers. I'm newer to Assetz. I quite like their platform but I worry about the default rates. The big black swan for asset backed P2P lenders is that "stuff" is quite highly valued at the moment, and if a recession comes along then the price of luxury cars, property etc. etc. will crash through the floor. So I don't consider them as "safe" as other people think. |
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stevio
Member of DD Central
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Post by stevio on Sept 13, 2015 9:45:42 GMT
I've done well with Funding Secure over the last year. Ablrate spent all their effort building a new website instead of finding new things to fund. I worry about this one . Rebs is OK but after quite a nasty default from buying an existing loan, I now have a strict policy of placing high bids - I don't usually go below 16%. Also you can sometimes pick up bargains in the secondary market if there are forced sellers. I'm newer to Assetz. I quite like their platform but I worry about the default rates. The big black swan for asset backed P2P lenders is that "stuff" is quite highly valued at the moment, and if a recession comes along then the price of luxury cars, property etc. etc. will crash through the floor. So I don't consider them as "safe" as other people think. If there is a recession, people's ability to repay loans full stop will diminish, so you may as well have some security behind it to recover some of your debt, rather than just someones 'word' to repay
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Post by ablrateandy on Sept 13, 2015 18:48:16 GMT
If you have specific concerns I'm happy to address them  . We've had four new loans in the last couple of weeks and a decent pipeline... Important to walk before we can run rather than put up assets that we don't like! In response to your concerns about asset-backed sites, we take care to ensure that there is good coverage even in soft markets on what we have. The two current loans have very strong coverage of loan value and the debt is company so the assets are an additional layer of protection not a hindrance! |
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. We've had four new loans in the last couple of weeks and a decent pipeline... Important to walk before we can run rather than put up assets that we don't like!