Evolution/GF SIPP - P2P Platforms experience/recommendations

I lend both inside and outside my SIPP. For my SIPP I'm in SS,ABL,Assetz Capital (AC) and Thin Cats (TC). AC has a slick website with different options to lend. They have managed funds offering 7% or you can manually select loans and achieve around 10%. Deal flow is lumpy. They have had defaults but have done a reasonable job in recoveries though some are still outstanding. TC is a bit of a "marmite" experience. Their deal flow is probably the best of all the platforms I'm on (7 in total) with a return of 11-12%. While there is good variety in the loan types I'm tending to invest recently in property related/secured ones. The reason for this is that all the specific provisions I have made for loan loses are on TC. Their IT system is pants and their communication patchy. There is a very good DD among the user community. I looked at UK Bond Network and consider the risk/reward relationship poor so I'm giving that a miss. Mike

That's good to know

I was looking at Assetz, TC and FN

That's new. I haven't had any communication that they aren't continuing existing SIPP's. They did say they were considering the P2P suppliers, but maybe it was more consideration of a P2P SIPP in general. Maybe they couldn't make it pay.

Please can you share your experience of how easy it is to operate a Sippclub Evolution SIPP? Having started applying I am worried that the 7 separate application forms totalling 33 pages, all to be signed and returned on paper, suggest ongoing operation might also be bureaucratic if Greyfriars have not moved into the world of online account management.

Specifically
- how easy is it to move money between different P2P platforms within the SIPP wrapper?
- Greyfriars Trustees need to be the first named investor on each P2P account. Can we still manage our investments within each platform online just as easily as we can manage our personal accounts with these platforms?

I am wondering whether I should delay moving my SIPP for another 6 months in the hope that we get a competitor in this space with a more modern and efficient product?

Thank you

Clearly I have a vested interest, but if you bear that in mind...


I have a massive hatred of paperwork but once it was done, Brian was great. I have never had a problem with the admin chaps at Greyfriars and money has always moved quickly. I've been pretty impressed.

Again my experience has been good. I use SS and Ablrate for my SIPP and also have a SIPP account with Selftrade as well as investment with Dolphin Tust.

All has been very easy to do and Greyfriars answer emails within an hour (my experience) - bank transfers are slow in this day and age though as Cater Allen are not set up for fast transfers.

I have just spoken to Brian and unfortunately Greyfrairs, HAVE closed their door to new business because although SIPPclub do have this six month notice period, in order to get around this Greyfrairs are just using their opt out by using their right of refusal to reject any new clients. So in order to avoid anyone filling up the massive number of forms just to be rejected at the end, his advice is not to go through the process. In the meantime they are looking for a new provider but will probably take a lot of time. Which is all a real bummer for me, been on my to do list for ages and soon as get around to it, its no longer available.