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Post by martin44 on Oct 13, 2017 20:39:38 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?. My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy. The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken. Edit *()* apologies if not too clear. Distrust - yes. Idle funds - no. I don't think there is a perfect platform. Each has its positives and negatives. Out of four mentioned I have much more trust in MT and Col than in the other two, although my funds proportion FS is significantly larger than in the other three.Fundingsecure was the first platform i invested in, at the same time i had also discovered Savingstream, but i thought SS was too good to be true, so went with FS.. How things change investor to investor. I won't comment further because i do not want the thread to descend into a FS bashing party.   
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Post by df on Oct 13, 2017 21:28:37 GMT
Distrust - yes. Idle funds - no. I don't think there is a perfect platform. Each has its positives and negatives. Out of four mentioned I have much more trust in MT and Col than in the other two, although my funds proportion FS is significantly larger than in the other three.Fundingsecure was the first platform i invested in, at the same time i had also discovered Savingstream, but i thought SS was too good to be true, so went with FS.. How things change investor to investor. I won't comment further because i do not want the thread to descend into a FS bashing party. There has been lots of FS bashing parties. At some point SS was my second platform, but now it moved down to 5th place whilst FS became the second one. It happened organically - I've never had a plan to reduce one and increase the other. I think it is because diversification is on the top of my priority list and FS has larger loan book than Ly. There are some good and bad points about FS, but for me it works better than SS. It is of course different for different investors depending on their investment strategies.
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Post by eascogo on Oct 13, 2017 21:34:21 GMT
Distrust - yes. Idle funds - no. I don't think there is a perfect platform. Each has its positives and negatives. Out of four mentioned I have much more trust in MT and Col than in the other two, although my funds proportion FS is significantly larger than in the other three.Fundingsecure was the first platform i invested in, at the same time i had also discovered Savingstream, but i thought SS was too good to be true, so went with FS.. How things change investor to investor. I won't comment further because i do not want the thread to descend into a FS bashing party. I don't see why funds should stay barren when there is approx. £1m available at 13% in an 18mths loan. Some potential downsides have been wisely noted but they are hypothetical and the loan may turn out to be sound. Each loan carry risks and it is good to have them spellt out. Over an 18-month term investors usually have the option of trading out if they develop cold feet. I have put all my spare money available in this loan. The hypercautious could still invest and then trade for some more promising loan at the next opportunity. If it comes to a question of trust in the platform then I can't think of a better platform among the high-interest league.
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Post by martin44 on Oct 13, 2017 21:46:54 GMT
Fundingsecure was the first platform i invested in, at the same time i had also discovered Savingstream, but i thought SS was too good to be true, so went with FS.. How things change investor to investor. I won't comment further because i do not want the thread to descend into a FS bashing party. I don't see why funds should stay barren when there is approx. £1m available at 13% in an 18mths loan. Some potential downsides have been wisely noted but they are hypothetical and the loan may turn out to be sound. Each loan carry risks and it is good to have them spellt out. Over an 18-month term investors usually have the option of trading out if they develop cold feet. I have put all my spare money available in this loan. The hypercautious could still invest and then trade for some more promising loan at the next opportunity. If it comes to a question of trust in the platform then I can't think of a better platform among the high-interest league. can you direct us please to the loan you mention. 
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fp
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Post by fp on Oct 13, 2017 21:48:50 GMT
MT at a guess.
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r00lish67
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Post by r00lish67 on Oct 13, 2017 21:48:59 GMT
Fundingsecure was the first platform i invested in, at the same time i had also discovered Savingstream, but i thought SS was too good to be true, so went with FS.. How things change investor to investor. I won't comment further because i do not want the thread to descend into a FS bashing party. I don't see why funds should stay barren when there is approx. £1m available at 13% in an 18mths loan. Some potential downsides have been wisely noted but they are hypothetical and the loan may turn out to be sound. Each loan carry risks and it is good to have them spellt out. Over an 18-month term investors usually have the option of trading out if they develop cold feet. I have put all my spare money available in this loan. The hypercautious could still invest and then trade for some more promising loan at the next opportunity. If it comes to a question of trust in the platform then I can't think of a better platform among the high-interest league. My leading example of hypercautious is my father - he recoils at opening easy access savings accounts with banks that have the FSCS deposit scheme protection scheme just because he hasn't heard of them. He considers P2P as something slightly more risky than a 'dead cert' 33/1 at the Kempton races. Investing a large portion of one's spare money into a single 13% P2P loan that features one month's retained interest, and which anyone who happens to want to visit the Stoke region can monitor/report to this forum on, combined with a par-only secondary marketplace in which someone listing £10k causes an immovable avalanche...this features rather lower down my list of definitions of hypercautious
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Post by eascogo on Oct 13, 2017 21:51:30 GMT
I don't see why funds should stay barren when there is approx. £1m available at 13% in an 18mths loan. Some potential downsides have been wisely noted but they are hypothetical and the loan may turn out to be sound. Each loan carry risks and it is good to have them spellt out. Over an 18-month term investors usually have the option of trading out if they develop cold feet. I have put all my spare money available in this loan. The hypercautious could still invest and then trade for some more promising loan at the next opportunity. If it comes to a question of trust in the platform then I can't think of a better platform among the high-interest league. can you direct us please to the loan you mention. MT was in my mind all of the time. I should indeed have spelled this out.
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Post by df on Oct 13, 2017 22:40:10 GMT
My leading example of hypercautious is my father - he recoils at opening easy access savings accounts with banks that have the FSCS deposit scheme protection scheme just because he hasn't heard of them. Even within younger generation the believe in brand names is still at large :-) but he must have heard of Lloyds, it is 252 years old, 2% on 5k plus 3% on club monthly saver is better than idle cash in Natwest or similar.
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r00lish67
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Post by r00lish67 on Oct 13, 2017 22:54:47 GMT
My leading example of hypercautious is my father - he recoils at opening easy access savings accounts with banks that have the FSCS deposit scheme protection scheme just because he hasn't heard of them. Even within younger generation the believe in brand names is still at large :-) but he must have heard of Lloyds, it is 252 years old, 2% on 5k plus 3% on club monthly saver is better than idle cash in Natwest or similar. True, he'd be comfortable with them from a risk perspective. But, opening a new current account and associated regular savers would then generally fall outside of his other financial life aim of "keeping things simple" . My crowning achievement of late was to get him to open the 5% regular saver which comes with the First Direct account that he already has - even then, he was wavering...
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r00lish67
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Post by r00lish67 on Oct 13, 2017 23:06:57 GMT
Oh, and whilst we're on where to stash (relatively small) amounts of cash, here's some to add:
Octopus Cash (via quidco) £1000 6.3% (circa*, 1YR) *assuming your cashback tracks.
Nationwide Current account £2500 5% (1YR)
Nationwide Flex Regular Saver £500pm £250 5%
Marks + Spencer Regular Saver £250pm 5%
HSBC regular saver £250pm 5%
TSB current account £1500 3%
Tesco current account (x2) £6000 3%
Virgin regular saver £250pm 2.25%
BOS current account (x2) £10000 2%
Halifax Regular saver £250pm 2%
TSB Regular saver £250pm 2%
BOS Regular saver £250pm 2%
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star dust
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Post by star dust on Oct 13, 2017 23:10:32 GMT
New Nationwide Flex Regular Saver Accounts have been £250 pm since mid July . |
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r00lish67
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Post by r00lish67 on Oct 13, 2017 23:19:33 GMT
New Nationwide Flex Regular Saver Accounts have been £250 pm since mid July . Gah, will the cutting never end?!
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Post by robberbaron on Oct 14, 2017 6:57:46 GMT
New Nationwide Flex Regular Saver Accounts have been £250 pm since mid July . Gah, will the cutting never end?! It will end when the Bank of England finally decides to raise rates. Any instant access current/saving account above 0.25% is the bank giving you free money.
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Post by wickedxuk on Oct 14, 2017 7:04:17 GMT
Oh, and whilst we're on where to stash (relatively small) amounts of cash, here's some to add: Octopus Cash (via quidco) £1000 6.3% (circa*, 1YR) *assuming your cashback tracks.Nationwide Current account £2500 5% (1YR) Nationwide Flex Regular Saver £500pm £250 5% Marks + Spencer Regular Saver £250pm 5% HSBC regular saver £250pm 5% TSB current account £1500 3%
Tesco current account (x2) £6000 3% Virgin regular saver £250pm 2.25% BOS current account (x2) £10000 2%
Halifax Regular saver £250pm 2% TSB Regular saver £250pm 2% BOS Regular saver £250pm 2% Might be worth adding club Lloyds to this, 2% up to £5k in the current account and then 3% on a monthly saver £25-£400.
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Post by robberbaron on Oct 14, 2017 7:09:02 GMT
And Santander 123 now only 1.5% but on 20k.
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