mikeh
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Post by mikeh on Oct 3, 2016 17:07:19 GMT
This has been postponed a couple of times but is now apparently due to launch early next year. "The as-yet-unnamed P2P platform will offer loans to both businesses and individuals, targeting Hargreaves Lansdown’s existing client base for investment."
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archie
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Post by archie on Oct 3, 2016 17:12:28 GMT
Interesting as they would be able to offer the IFISA.  |
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Post by wickedxuk on Oct 3, 2016 18:06:13 GMT
I wonder what the rates will be! Interesting stuff!
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Steerpike
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Post by Steerpike on Oct 3, 2016 19:33:55 GMT
HL has 827,000 clients, that must be much more than all of the existing UK P2P/P2B platforms added together, this could be very significant and could well push rates down.
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Post by easteregg on Oct 4, 2016 9:15:23 GMT
It will be interesting to see what they offer. Will it be a supermarket type platform or a true peer-to-peer platform? My only concern is that some companies currently outside the P2P space perhaps don't understand the dynamics of P2P. This may not be a good example, but Wonga's platform lasted less than a year. Money & Co which was founded by individuals with vast financial experience has not been able to challenge the likes of Funding Circle or most of the other business lending companies.
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markdirac
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Post by markdirac on Oct 5, 2016 18:26:27 GMT
I wonder what the rates will be! Interesting stuff! I would guess similar rates to Wellesley, Money & Co, Octopus. If so, not worth the distraction.
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Post by wickedxuk on Oct 5, 2016 18:31:34 GMT
I wonder what the rates will be! Interesting stuff! I would guess similar rates to Wellesley, Money & Co, Octopus. If so, not worth the distraction. agreed!
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markdirac
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Post by markdirac on Oct 5, 2016 18:48:31 GMT
Who is left who is offering rates greater than SS and MT, other than ReBS, TC and FC?
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jonah
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Post by jonah on Oct 5, 2016 20:27:19 GMT
Who is left who is offering rates greater than SS and MT, other than ReBS, TC and FC? Fs offer 13% and more if you have big pockets.
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Steerpike
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Post by Steerpike on Oct 5, 2016 20:31:18 GMT
I wonder what the rates will be! Interesting stuff! I would guess similar rates to Wellesley, Money & Co, Octopus. If so, not worth the distraction. To use current parlance, an extra 100's of millions of pounds flooding in to the P2P marketplace will prove disruptive.
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adrianc
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Post by adrianc on Oct 5, 2016 21:08:56 GMT
Who is left who is offering rates greater than SS and MT, other than ReBS, TC and FC? If you get in on a good auction, without the last-minute knock-downs, then LC can go towards 15%.
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Liz
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Post by Liz on Oct 5, 2016 22:22:47 GMT
Who is left who is offering rates greater than SS and MT, other than ReBS, TC and FC? Which is highest paying p2p site where you can ISA your money?
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bigfoot12
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Post by bigfoot12 on Oct 6, 2016 8:54:24 GMT
I would guess similar rates to Wellesley, Money & Co, Octopus. If so, not worth the distraction. agreed! Disagreed. With the HL name behind it I would feel much more comfortable investing in it than any of those. I would also be happy to recommend it to many family and friends who still have their money in bank accounts earning very little. Obviously more details are needed if they are lending it out at 25% PA and paying me 3% PA then it won't be for me. But platform risk is my biggest concern and HL have the scale to overcome regulatory hurdles and have a great platform so should be good with IT. And as Steerpike points out the knock on impact could be significant - but it might also boost interest from potential borrowers and lenders.
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Post by GSV3MIaC on Oct 6, 2016 11:05:36 GMT
I like the HL name too, but it is only worth a small percentage IMO. We need to wait and see what they actually come out with .. they are not stupid, so I assume they'll pitch it where they think it will succeed, and they have deep enough pockets (but maybe not the connections) to make life uncomfortable for the big 3-4 current players. An easy flip from S&S ISA to IFISA, or back, would be a big plus, at least for me.
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rick24
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Post by rick24 on Oct 6, 2016 12:01:07 GMT
Might be embarrassing for them if it takes money away from their existing product range.
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