justme
Member of DD Central
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Post by justme on Jan 26, 2018 12:39:54 GMT
indeed most orobbly would want more than just 3 in total. OP however has 4 where ge just started with 3 of them. So filling them to the max he is happy with at present/ at least quite a bit while getting used to the ropes and reading more would be reasonable course of actions for now.
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p2pete
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Post by p2pete on Jan 26, 2018 13:04:02 GMT
Try the reviews on FinancialThing. You can get a good idea of the interest rates available, whether they are autoinvest or manual, whether the loans are secured, if there's a provision fund, amortising vs interest only etc.
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Post by eascogo on Jan 26, 2018 14:29:08 GMT
Try the reviews on FinancialThing. You can get a good idea of the interest rates available, whether they are autoinvest or manual, whether the loans are secured, if there's a provision fund, amortising vs interest only etc. When you click" on the "Comparison" tab none of the p2p platforms listed offer interest higher than 6%. I wonder why the higher-interest platforms are not represented. The "Where I invest" tab however shows his [Laurence's] own portfolio to be 15% invested in MoneyThing, a 12%+ platform. However the website contains valuable information and excellent advice generally. It is a good place to start with for newbies.
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Post by Deleted on Jan 26, 2018 14:43:49 GMT
I'd table out why you have the portals you already have, why did you select them and how much as a percent do you feel you want by when. Your added 10% gives you a bunch of new figures. Then table what your expectations are by portal for the next year and see if you get there, identify why you were wrong and repeat cycle.
For me Lendy has yet to prove it is competent so I would not have started there. In fact if I knew what I know now, when I started I'd have put 50% with MT and 25% with ABL and be still thinking what to do with the last 25%. Despite that I have 100% lent and I am trying to get out of AC, FC and RS
I would not lend to a portal until its business model had been stable for 2 cycles of loan, so if the loans are for 6 months I'd look at it after 1 year.
No loan should be for more than 1% of your pile
Don't lend on boats or property without planning permission.
I've said before "rushing to lose money is silly, take your time" :-)
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Post by df on Jan 26, 2018 15:06:30 GMT
I'd be happy to settle for less than 8-10%, i just want to understand how the platform works and how it appears to go about day to day business, whether there's any quirks etc In that case AC is a good choice (less risky than Lendy, IMO). There are plenty of loans in range of 7-8%, so you can diversify your investment if you use manual account. I use 17 platforms. Apart from Ablrate and Unbolted, which you already use, I'd recommend to look at Collateral, Moneything and Growth Street.
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Post by davids on Jan 27, 2018 8:57:50 GMT
i first got into Lendy as i was aware of a friend who used it, and has successfully for a few years, and in the region of £10k, but for awhile all i did was 'play around' to see how it worked, how easy it was to sell, get access to funds etc, and because i just played with it for several months i have my own strategy if you will and as a result it's taken me awhile to find loans that i like and invested in those ones. I'm also confident in the ones i've invested in that if i wanted the cash i could sell the loans within an hour or so and have the cash withdrawal request put in on the same day.
I have an account created on AC, which i am tempted to try out some manual investing, using a small amount for say 6months and do a similar thing to lendy, or if i'm not so worried about access to the cash then start lending to loans i know i might not be able to sell instantly. The one thing i've noticed about collateral is a lot of loans against items like silver or diamonds, but all the loans i see how against properties, how do they release the loans against items, is it simply whoever gets there the quickest? and same question goes for moneything, are the loans just first come first served kinda thing? Having a look at growth street seems an easy to navigate and understand website and not much to it, very hands off and will probably dip a toe.
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archie
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Post by archie on Jan 27, 2018 9:11:33 GMT
The one thing i've noticed about collateral is a lot of loans against items like silver or diamonds, but all the loans i see how against properties, how do they release the loans against items, is it simply whoever gets there the quickest? and same question goes for moneything, are the loans just first come first served kinda thing? For MoneyThing it is first come first served. For a new loan they have a 24 hour (occasionally 48 hour) bid limit so most people get a chance. For a renewal, where a lot of people might have rolled over the investment, there might not be much left.
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Post by davids on Jan 27, 2018 9:16:58 GMT
The one thing i've noticed about collateral is a lot of loans against items like silver or diamonds, but all the loans i see how against properties, how do they release the loans against items, is it simply whoever gets there the quickest? and same question goes for moneything, are the loans just first come first served kinda thing? For MoneyThing it is first come first served. For a new loan they have a 24 hour (occasionally 48 hour) bid limit so most people get a chance. For a renewal, where a lot of people might have rolled over the investment, there might not be much left. So am i right in saying, that loans will appear in the pipeline and you cannot bid on them? then when they go live there's a bid limit for 24hours allowing people to get a chance to bid.
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pom
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Post by pom on Jan 27, 2018 9:18:35 GMT
I hope you're right about your Lendy loans, because I think pretty much all of us have thought that and been caught out to some degree when the SM got overloaded with sellers.
Yes MT & COL are first come first served, both use bid limits tho COL haven't needed to recently. I wouldn't expect to see any new loans on bling on either again, so whilst you might theoretically get lucky at renewal times don't count on it. General feeling on the board at the moment is probably weighed more towards COL, personally I still prefer MT. I think COL have gone for too many dev loans that are too big too soon, which are clogging up the SM.
Growth St is easy but when loans are so short term a few days cash drag each month soon pulls rates down. For easy hands off investment I always recommend Lending Works - 6% currently on the 5yr market and you can just pay in your money and forget about it. And they have an ISA too
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archie
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Post by archie on Jan 27, 2018 9:36:59 GMT
For MoneyThing it is first come first served. For a new loan they have a 24 hour (occasionally 48 hour) bid limit so most people get a chance. For a renewal, where a lot of people might have rolled over the investment, there might not be much left. So am i right in saying, that loans will appear in the pipeline and you cannot bid on them? then when they go live there's a bid limit for 24hours allowing people to get a chance to bid. Yes.
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p2pclive
Blockchain specialist
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Post by p2pclive on Jan 27, 2018 10:29:51 GMT
So am i right in saying, that loans will appear in the pipeline and you cannot bid on them? then when they go live there's a bid limit for 24hours allowing people to get a chance to bid. Yes. That's just ridiculous, I can get a pizza in 30 minutes but it takes me 24 hours to bid on a loan? What an archaic system. 
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Post by davids on Jan 27, 2018 10:39:51 GMT
I noticed a loan on collateral this morning that had £15k left on it, so i thought it was a good opportunity for a toe dip in the water loan, i just had another look and it says 100% funded, secondary market active with £25k available to buy, how is this so when it's filled within the last hour? have people put up £25k worth for sale already?
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SteveT
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Post by SteveT on Jan 27, 2018 10:50:50 GMT
I noticed a loan on collateral this morning that had £15k left on it, so i thought it was a good opportunity for a toe dip in the water loan, i just had another look and it says 100% funded, secondary market active with £25k available to buy, how is this so when it's filled within the last hour? have people put up £25k worth for sale already?Yep, on COL the cashback is still paid to the original purchaser, at draw-down, even if they've already sold the part on the SM by then. So you see people buying heavily into a cashback loan and then listing parts for sale the moment the loan has filled and the SM is activated. Nuts really. I don't know why Collateral Rep don't at least make people hold their loan-parts through to draw-down before giving them the cashback.
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archie
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Post by archie on Jan 27, 2018 10:56:39 GMT
That's just ridiculous, I can get a pizza in 30 minutes but it takes me 24 hours to bid on a loan? What an archaic system. It takes a few seconds but you have 24 hours in which to do it. If there's any left it's a free for all after that. Interest applies from when you bid.
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kermie
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Post by kermie on Jan 27, 2018 10:59:29 GMT
Or better still IMO, oblige lenders to hold to term in order to get the cashback (ok - it becomes a "bonus" rate rather than "cashback") - at least that would prevent the liquidity problems.
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