benaj
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Post by benaj on Nov 1, 2018 17:24:10 GMT
new product launched. Get up to 12% return !!! HNW only, min 100k investment.
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jnm21
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Post by jnm21 on Feb 15, 2019 14:03:49 GMT
Any update benaj? What are your feelings about EM now?
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benaj
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Post by benaj on Feb 15, 2019 15:24:22 GMT
Any update benaj ? What are your feelings about EM now? I only have Classic with Easy Money. No late payment yet and projects redeemed on-time. Although Easy Money aims to diversify money across a number of loans, at the moment I am allocated to 2 loans. The platform itself is still relatively new and there's not much statistics to show. I haven't experienced major delay withdrawing money. There is no guarantee about liquidity but I could sell 100% of my small investment if I want. easymoney.com/statistics#performanceI like The Lifeworks membership,, it saves me £££ in my first year for my 1k test.
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p2pfan
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Post by p2pfan on Jul 9, 2019 0:02:01 GMT
It's been another few months, so wondering if there is any update from benaj or any other EM lender? Have they now diversified you across more than a tiny number of investments? What are actual investments they've put your funds into? Do they give a detailed insight? The loan performance metrics for 2018 are near enough "perfect", but obviously the long-term track record is not there. The website has very little information compared to other P2P platforms. Seems to be a very small operation. Only about five staff on Linkedin. Their Twitter account has only been added to once since 3 October 2018 last year. These and many other aspects don't give one much confidence. On the other hand, all the seven reviews on Google reviews are positive. Thoughts?
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benaj
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Post by benaj on Jul 9, 2019 22:21:19 GMT
new product launched. Get up to 12% return !!! HNW only, min 100k investment. 8% return for HNW now. My thought, given the current climate of the state of growth in p2p lending, it won't be easy for new platforms like Easy Money to build up track record. At the moment, easyMoney is perhaps most comparable with Octopus Choice and Loanpad. Although there is uncertainty over liquidity and so far I haven't experience any delays to sell 100% if I wanted to. There are less borrowers with easyMoney compared to Loanpad, but it offers up to 8% interest for HNW.
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mrk
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Post by mrk on Jul 10, 2019 19:50:33 GMT
It's been another few months, so wondering if there is any update from benaj or any other EM lender? Have they now diversified you across more than a tiny number of investments? What are actual investments they've put your funds into? Do they give a detailed insight? I put ~£20k in EM over a year ago. My funds are now spread over ~10 loans, but not well distributed. There's like £9k in one loan and £100 in a few others. No control over the max investment per loan. No details about each loan either, just a unique identifier. It's a pretty opaque platform. On the plus side all loans are current with no defaults or late payments so far, performing exactly as advertised (7.28%). And it's very hands off.
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p2pfan
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Post by p2pfan on Jul 14, 2019 23:25:34 GMT
Thank you for the interesting insights. easyMoney does seem to be a small platform and that's my main concern. Because they are small, they seem to have very few projects. As you say, mrk, there doesn't seem to be much meaningful diversification. Even more importantly, being so small means this could be a high risk platform to use over the medium term if/when there is more regulation and a shake-up in the P2P industry? What do you think? The plus side is that the platform pays a decent interest rate if you invest £10k+ and seems to have a 100% track-record of paying investors. I've read/heard that from multiple sources. Even though it's very early days, that is still a great record to have.
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p2pfan
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Post by p2pfan on Sept 1, 2019 12:40:22 GMT
I haven't invested into easymoney yet for the reasons I've spelled out above but their excellent trackrecord so far (which they publish on their statistics page) remains very impressive and makes me tempted.
Does anybody have any insights into or experiences with easymoney?
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benaj
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Post by benaj on Sept 2, 2019 11:47:28 GMT
I haven't invested into easymoney yet for the reasons I've spelled out above but their excellent trackrecord so far (which they publish on their statistics page) remains very impressive and makes me tempted. Does anybody have any insights into or experiences with easymoney? It's too early to talk about the track record of this platform. Although there is no loss on the platform yet, Easymoney is definitely not risk free. One loan originated in 2018 is "in collection". My target rate for the Premium account is 7.28%. The diversification algorithm minimised my risk and I had less than 3% amount invested "in collection". easymoney.com/statuses-explainedRegarding liquidity, I haven't experienced any issues with "Active" loans in August and it was definitely quick to sell.
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bugs4me
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Post by bugs4me on Sept 2, 2019 19:06:41 GMT
Not wishing to pour cold water but has anyone done any DD on this platform
Doesn't look too bright on the accounts side but newish company and all that. No mention of Stelios that I could find so maybe this is a 'rent a name' - rather like Virgin who licence their name rights for a percentage.
Plus more than a couple of the existing Directors do seem extremely busy. No problem with holding more than one Directorship but I prefer if their concentration was where my hard earned cash was invested.
But all conjecture on my part. Personally at this stage it falls outside of my risk comfort zone but each to their own.
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p2pfan
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Post by p2pfan on Sept 2, 2019 20:56:54 GMT
Great feedback.
Yes, gosh, I'm astounded at how many directorships the two directors have! Well spotted.
EasyMoney is very much a 'rent a name' job. Stelios hasn't even gotten around to taking a selfie with a wad of 50 quid notes for them to put on their home page.
Too early stage and too much opaqueness/secretiveness, so not right for me at this point.
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benaj
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Post by benaj on Sept 15, 2019 12:47:10 GMT
Interest paid on time in September. Current accrued interest 0.
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benaj
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Post by benaj on Nov 20, 2019 23:00:14 GMT
Interest paid on time in November. No loans in Collection. Current accrued insterest 0. All loans can be sold, quite liquid
Withdrawal time: 2 working days.
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benaj
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Post by benaj on Feb 24, 2020 12:51:48 GMT
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p2pfan
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Post by p2pfan on Mar 3, 2020 0:17:51 GMT
Yes, you're right, stats are decent. But the huge slash in interest rates doesn't make the platform worth considering any more considering the fairly high risks involved IMHO. (Then again, most platforms are cutting rates.)
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