easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Nov 4, 2020 22:26:55 GMT
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Post by Harland Kearney on Nov 17, 2020 14:31:31 GMT
I've invested my first £1,000 with this platform to give them a run. Out of all the "other" platforms on this site, this is the only one I feel confident due to discussion here & online to give it a dab. It won't be taking up anymore than 0.5% of my portfilio at any one given time but it is a welcome addition with these 0.1% interest rates... My only other platform I hold money voluntairly on is Assetz Capital. The largest contributing factor for confidence is that they have sailed seemingly with calmity though COVID, would a housing crash be the same? I don't know, depends if you trust the LTVs. I for one am always skeptical, but that is why I am keeping exposure low. First time I've deposited money on a P2P site in over 500 days. Maybe my bad habits are coming back!  |
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Post by Badly Drawn Stickman on Nov 17, 2020 14:48:30 GMT
I've invested my first £1,000 with this platform to give them a run. Out of all the "other" platforms on this site, this is the only one I feel confident due to discussion here & online to give it a dab. It won't be taking up anymore than 0.5% of my portfilio at any one given time but it is a welcome addition with these 0.1% interest rates... My only other platform I hold money voluntairly on is Assetz Capital. The largest contributing factor for confidence is that they have sailed seemingly with calmity though COVID, would a housing crash be the same? I don't know, depends if you trust the LTVs. I for one am always skeptical, but that is why I am keeping exposure low. First time I've deposited money on a P2P site in over 500 days. Maybe my bad habits are coming back! I hope you got somebody to refer you.
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Post by Harland Kearney on Nov 17, 2020 15:36:53 GMT
I've invested my first £1,000 with this platform to give them a run. Out of all the "other" platforms on this site, this is the only one I feel confident due to discussion here & online to give it a dab. It won't be taking up anymore than 0.5% of my portfilio at any one given time but it is a welcome addition with these 0.1% interest rates... My only other platform I hold money voluntairly on is Assetz Capital. The largest contributing factor for confidence is that they have sailed seemingly with calmity though COVID, would a housing crash be the same? I don't know, depends if you trust the LTVs. I for one am always skeptical, but that is why I am keeping exposure low. First time I've deposited money on a P2P site in over 500 days. Maybe my bad habits are coming back! I hope you got somebody to refer you. I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research.
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Post by Ace on Nov 17, 2020 15:56:58 GMT
I hope you got somebody to refer you. I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research. Welcome on board Harland Kearney, I doubt you'll be disappointed by Loanpad. They're my go to platform for short term spare cash, though obviously not for cash that I couldn't do without. I'm currently up to about 10% of my investable funds here. Don't forget to make use of the rolling withdrawal technique for effectively halving access time to your cash (though might not be worth the faff if you stick at £1k). If you get the P2P bug again, CrowdPropertymight be worth a look. They too have sailed serenely through the covid crisis 😉
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Post by Badly Drawn Stickman on Nov 17, 2020 16:11:28 GMT
I hope you got somebody to refer you. I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research. I seem to be in a minority of one but feel the risk reward is getting close to the wire with a further rate cut pending. I can't deny it has served me well up till now but will be slowly reducing to a level in line with my interest to date. Fear not though I am sure somebody will be along to say how great they are within minutes. Edit, Ah see they appeared while I was distractedly typing.
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Post by Ace on Nov 17, 2020 16:20:51 GMT
I hope you got somebody to refer you. I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research. I'm not sure where you got the 4 week time frame from, but here are the relevant terms: 6. A referral will become a Qualifying Referral if they: a. Register via your unique link; and b. Have never previously had a Loanpad account; and c. Make their first investment of at least £5,000 into their Premium account within 14 days of opening their account. So looks like you may have already missed out on the bonus due to point 6c.
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Post by Badly Drawn Stickman on Nov 17, 2020 16:35:44 GMT
I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research. I'm not sure where you got the 4 week time frame from, but here are the relevant terms: 6. A referral will become a Qualifying Referral if they: a. Register via your unique link; and b. Have never previously had a Loanpad account; and c. Make their first investment of at least £5,000 into their Premium account within 14 days of opening their account. So looks like you may have already missed out on the bonus due to point 6c. I think that may just be badly worded Ace I suspect the first is not related to initial payment. Time yet to hang himself.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808 
Likes: 3,242
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Post by jonno on Nov 17, 2020 17:30:18 GMT
I have done yes, although you must invested 5k now to get the 1% bonus (£50). I may end up doing that within the 4 week time frame, but not without some more research. I seem to be in a minority of one but feel the risk reward is getting close to the wire with a further rate cut pending. I can't deny it has served me well up till now but will be slowly reducing to a level in line with my interest to date. Fear not though I am sure somebody will be along to say how great they are within minutes. Edit, Ah see they appeared while I was distractedly typing Is there ANOTHER rate cut in the pipeline? We've just had one 
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Post by Badly Drawn Stickman on Nov 17, 2020 17:40:58 GMT
I seem to be in a minority of one but feel the risk reward is getting close to the wire with a further rate cut pending. I can't deny it has served me well up till now but will be slowly reducing to a level in line with my interest to date. Fear not though I am sure somebody will be along to say how great they are within minutes. Edit, Ah see they appeared while I was distractedly typing Is there ANOTHER rate cut in the pipeline? We've just had one I may be wrong, every email I get is a rate cut somewhere but from memory it was a two step rate reduction with another in December. Edit See below from the platform As of 01 December 2020, rates will be changing to: Classic 3.00% and Premium 4.00%.
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Post by Ace on Nov 17, 2020 18:00:45 GMT
Yep. From their front page: "Interest Rates Forward Guidance: As of 01 December 2020, rates will be changing to: Classic 3.00% and Premium 4.00%."
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Post by Harland Kearney on Nov 17, 2020 18:14:02 GMT
I only registered yesterday afternoon, so I can top upto 5k if I desire still, but yeh looks like the first payment might have to be 5k. I am just not sure, that brings me above my absolute 2% limit for minor P2P platforms. Really I'd wanna keep it to 0.5%.
Maybe being a bit overly cautious, but I've seen the surprises this industry brings and I don't wanna be hanged out to dry.
If I've "missed" out its no big deal, I already read the bonus offer and mentally decided to ignore it because it seemed like a large commitment to a platform that could be considered minor or startup in most peoples books. Good track record or not, it is not bad to apply risk management about such things.
If I wanted to deposit that much money into P2P again, I'd honestly buy into AC with the discount, you'll get a larger bonus and instantly for compound interest. However, that is NOT a postion I want to expand new capital too at this time, if ever.
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Post by Ace on Nov 17, 2020 21:29:09 GMT
I totally agree that caution is a very good policy. I only invested the bare minimum in most platforms for the first year so that I could watch them from the inside, and generally watched from the outside for a while before that. I also have personal limits per platform, though mine are a lot more adventurous than yours; I allow up to 10% per platform. Loanpad has recently broken this limit for me, partly due to the daily interest payments, partly due to withdrawals from other platforms, and partly due to a miscalculation when deploying funds from an inheritance 🙄. I'm addressing it by moving funds to other platforms as opportunities arise. Though I'm finding the temptation to put more in Loanpad difficult to resist as I have some investable funds earning virtually nothing in FSCS protected accounts and I see Loanpad as my safest non-protected investment. I decided a while ago to drop FSCS accounts other than for my first and second tier emergency funds.
I hadn't considered having a lower limit for "minor" platforms. I'd be interested to hear what the definition for that is. Personally, other that the utter stinkers (Lendy et al), the so called big 3 are all amongst my least liked platforms. Currently ABLrate are the only other platform where I have over 5% invested, though CP and AC are pretty close to that. I did take the opportunity to increase AC a little when the discounts were over 10%. I'm currently increasing in CP, ABLrate, CR, BO, Pl, Ub, AF, K and LlI. I also keep thinking about trying BC, but the £5k per loan minimum is holding me back, and I really have way too many platforms already.
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Post by Harland Kearney on Nov 17, 2020 22:50:12 GMT
I totally agree that caution is a very good policy. I only invested the bare minimum in most platforms for the first year so that I could watch them from the inside, and generally watched from the outside for a while before that. I also have personal limits per platform, though mine are a lot more adventurous than yours; I allow up to 10% per platform. Loanpad has recently broken this limit for me, partly due to the daily interest payments, partly due to withdrawals from other platforms, and partly due to a miscalculation when deploying funds from an inheritance 🙄. I'm addressing it by moving funds to other platforms as opportunities arise. Though I'm finding the temptation to put more in Loanpad difficult to resist as I have some investable funds earning virtually nothing in FSCS protected accounts and I see Loanpad as my safest non-protected investment. I decided a while ago to drop FSCS accounts other than for my first and second tier emergency funds. I hadn't considered having a lower limit for "minor" platforms. I'd be interested to hear what the definition for that is. Personally, other that the utter stinkers (Lendy et al), the so called big 3 are all amongst my least liked platforms. Currently ABLrate are the only other platform where I have over 5% invested, though CP and AC are pretty close to that. I did take the opportunity to increase AC a little when the discounts were over 10%. I'm currently increasing in CP, ABLrate, CR, BO, Pl, Ub, AF, K and LlI. I also keep thinking about trying BC, but the £5k per loan minimum is holding me back, and I really have way too many platforms already. I might sound a bit dumb here, I did take the test and pass don't worry! But how does that work? I don't know any other platforms that offer such "liquidity" with interest payments. I fear that many investors may be sheepish like with AC, putting the money they can't afford to lose to short term on almost intra-short term use (like for 3-4 days as an example) I'm assuming this why they have the 1% interest "fund", to help account for these daily liquidity releases if I read your post correctly, interesting. I won't lie, sounds like a delicious cake if one ever existed!
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Post by Ace on Nov 17, 2020 22:55:39 GMT
I totally agree that caution is a very good policy. I only invested the bare minimum in most platforms for the first year so that I could watch them from the inside, and generally watched from the outside for a while before that. I also have personal limits per platform, though mine are a lot more adventurous than yours; I allow up to 10% per platform. Loanpad has recently broken this limit for me, partly due to the daily interest payments, partly due to withdrawals from other platforms, and partly due to a miscalculation when deploying funds from an inheritance 🙄. I'm addressing it by moving funds to other platforms as opportunities arise. Though I'm finding the temptation to put more in Loanpad difficult to resist as I have some investable funds earning virtually nothing in FSCS protected accounts and I see Loanpad as my safest non-protected investment. I decided a while ago to drop FSCS accounts other than for my first and second tier emergency funds. I hadn't considered having a lower limit for "minor" platforms. I'd be interested to hear what the definition for that is. Personally, other that the utter stinkers (Lendy et al), the so called big 3 are all amongst my least liked platforms. Currently ABLrate are the only other platform where I have over 5% invested, though CP and AC are pretty close to that. I did take the opportunity to increase AC a little when the discounts were over 10%. I'm currently increasing in CP, ABLrate, CR, BO, Pl, Ub, AF, K and LlI. I also keep thinking about trying BC, but the £5k per loan minimum is holding me back, and I really have way too many platforms already. I might sound a bit dumb here, I did take the test and pass don't worry! But how does that work? I don't know any other platforms that offer such "liquidity" with interest payments. I fear that many investors may be sheepish like with AC, putting the money they can't afford to lose to short term on almost intra-short term use (like for 3-4 days as an example) I'm assuming this why they have the 1% interest shortfall, to help account for these daily liquidity releases if I read your post correctly, interesting. I won't lie, sounds like a delicious cake if one ever existed! Sorry Harland Kearney, I don't understand what you're asking. How does what work? I'm guessing that I've written something that only makes sense to me, but I can't work out what that is.
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