tarq
Member of DD Central
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Post by tarq on Apr 25, 2016 8:51:20 GMT
Hi all,
I have quite a few bob tucked away in Wellesley, and am enjoying the regular returns without any hassle.
Don't want to have all 'eggs in 1 basket' so, does anyone know if any of the other P2P companies that work in a similar way?
IE. Deposit money, choose term & int. rate & not have to wait until loaned for interest to be paid.
The other P2P companies I have looked at seem to require a lot of input to grab small amounts of loans, more losses/fees and money not earning if not loaned out.
Thanks for any thoughts.
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Post by captainconfident on Apr 25, 2016 9:54:18 GMT
I recommend Lending Works or Amicus or Quanta through Crowdstacker.
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Steerpike
Member of DD Central
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Post by Steerpike on Apr 25, 2016 10:05:57 GMT
There can be a wait to get new money invested on Lending Works.
I transferred funds using FP on 15-Apr-16 but this was not added to my account until 18th and then I made lending offers in both markets.
So far (25th April) nothing has been invested and the Lender Centre projects a further 3 days to wait on the 3 year market and 8 days on the 5 year.
On 26th April, 11 days after transferring funds, the queues are 3 days for 3 year and 7 days for 5 year.
On 1st May, 17 days after transferring funds, the 3 year money is showing as "allocated" (not on loan) and the 5 year queue is now 5 days.
May 6th, 3 weeks after transferring funds and at last both the 3 year and 5 year are off the Lending Offers page, although the 3 year money is still "Allocated" rather than "On loan".
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pauls
Posts: 68
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Post by pauls on Apr 25, 2016 15:16:38 GMT
I recommend Lending Works or Amicus or Quanta through Crowdstacker. First that Ive heard of Crowdstacker and their offerings. Any comments on their performance so far?
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Post by captainconfident on Apr 25, 2016 16:40:13 GMT
The two Crowdstacker offerings are invest and forget products, property backed like Wellesley. I stuck a lump in the Amicus 18 month at 5.65%. It repays interest only at intervals and that has gone smoothly. The platform is simply an intermediary.
I was convinced by the account given of the strength of the security and it looks like it does what it says on the tin. It's all about diversity for me - too much in RS.
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pauls
Posts: 68
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Post by pauls on Apr 26, 2016 2:11:27 GMT
Thanks for the heads up and comments. I agree wrt diversity.
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ben
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Post by ben on Apr 26, 2016 5:01:57 GMT
Lend invest also has auto invest although can take a bit of time if you do not want to put to much into a single offering, they also have the advantage of automatically paying interest into you bank each month if you want
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Steerpike
Member of DD Central
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Post by Steerpike on Apr 26, 2016 6:13:22 GMT
I don't use the auto invest on LendInvest because it is not flexible enough and, anyway, often it can be better to wait for Thursday and take advantage of the Deal of the Week, although I haven't seen one of these recently.
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ben
Posts: 2,020
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Post by ben on Apr 26, 2016 8:18:08 GMT
I do not use the auto invest either I prefer to pick and choose mine although to be honest on the limited information available I doubt I do a very good job
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tarq
Member of DD Central
Posts: 125
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Post by tarq on Apr 26, 2016 12:18:13 GMT
Thanks for all the suggestions.
I've had a quick look at the Crowdstacker isa, anyone have one of these?
I'll have a trawl through the rest.
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am
Posts: 1,495
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Post by am on Apr 27, 2016 19:08:44 GMT
I recommend Lending Works or Amicus or Quanta through Crowdstacker. Other than diversification over projects, what is the advantage in lending to Amicus rather than to bridging loans on platforms such as SS, MT, FC and AC, at higher rates? Other than diversification over projects, what is the advantage in lending to Quanta rather than to individual refurbs at Property Moose and similar platforms?
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Post by captainconfident on Apr 27, 2016 19:19:56 GMT
am, you can ask the same question about Wellesley and Ratesetter. Why choose them and not individual property loans at higher rates on other sites.? Different risk profiles. Like most people here, I have a bit in all these different things.
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