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Post by Deleted on Jun 6, 2018 17:00:32 GMT
This is just my personal experience with the sites I've used. I've tried P2P since about 2014 across I think 6 different sites. Overall I'll probably have lost money, especially compared to inflation. Some of them which promised a lot ended up being bad. No surprises there. Some are outright shocking. Only really two have made me a profit and I don't want to name them since I have no idea where they're going either.
I was diversified and checked on sites before I put money in.
Overall I would say P2P has been a failure for me, and I would have been better off putting the money in a 1% a year bank account.
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empirica
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Post by empirica on Jun 6, 2018 17:54:20 GMT
This is just my personal experience with the sites I've used. I've tried P2P since about 2014 across I think 6 different sites. Overall I'll probably have lost money, especially compared to inflation. Some of them which promised a lot ended up being bad. No surprises there. Some are outright shocking. Only really two have made me a profit and I don't want to name them since I have no idea where they're going either.
I was diversified and checked on sites before I put money in.
Overall I would say P2P has been a failure for me, and I would have been better off putting the money in a 1% a year bank account.
Unless you feel it might be dumb luck on their part, should the two that are (to date) getting it right, be named and praised? May generate some additional support which could help them continue to do well. Similarly, why not name and shame the four that didn't do so well. Overall, naming names might be of assistance to others like me who are evaluating additional platforms. Otherwise, you are just teasing us. 
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bigfoot12
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Post by bigfoot12 on Jun 6, 2018 18:44:18 GMT
My guess is that you succeeded with RS and possibly BM, and did badly with TC, PM and LW; not sure of the 4th disappointment.
Edit: I think that whatever your choices, you have been unlucky with a combinations of loans or platforms. I would have thought most people on this forum, with some diversification, are beating inflation.
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TitoPuente
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Post by TitoPuente on Jun 6, 2018 20:24:16 GMT
This is just my personal experience with the sites I've used. I've tried P2P since about 2014 across I think 6 different sites. Overall I'll probably have lost money, especially compared to inflation. Some of them which promised a lot ended up being bad. No surprises there. Some are outright shocking. Only really two have made me a profit and I don't want to name them since I have no idea where they're going either.
I was diversified and checked on sites before I put money in.
Overall I would say P2P has been a failure for me, and I would have been better off putting the money in a 1% a year bank account.
Sorry but useless post (and thread) unless you provide data. Mos people here have had bad days but have overall been fairly successful. Trashing P2P generically without providing enough input for folks to analyse can be understood as either too simple minded or hiding an agenda.
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happy
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Post by happy on Jun 6, 2018 21:09:20 GMT
This is just my personal experience with the sites I've used. I've tried P2P since about 2014 across I think 6 different sites. Overall I'll probably have lost money, especially compared to inflation. Some of them which promised a lot ended up being bad. No surprises there. Some are outright shocking. Only really two have made me a profit and I don't want to name them since I have no idea where they're going either.
I was diversified and checked on sites before I put money in.
Overall I would say P2P has been a failure for me, and I would have been better off putting the money in a 1% a year bank account.
Sorry but useless post (and thread) unless you provide data. Mos people here have had bad days but have overall been fairly successful. Trashing P2P generically without providing enough input for folks to analyse can be understood as either too simple minded or hiding an agenda. So is that "Promised you a Miracle" by Simple Minds. All about promises unfulfilled I do believe. www.google.co.uk/search?q=promised+you+a+miracle&oq=promised&aqs=chrome.3.69i57j0l3.8613j0j8&client=tablet-android-asus-rev&sourceid=chrome-mobile&ie=UTF-8
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Post by Ace on Jun 6, 2018 23:11:52 GMT
My guess is that you succeeded with RS and possibly BM, and did badly with TC, PM and LW; not sure of the 4th disappointment. Since @yescautious isn't playing ball, would you like to explain your guesses bigfoot12? I'd be happy to learn some lessons.
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bigfoot12
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Post by bigfoot12 on Jun 7, 2018 4:54:05 GMT
Since @yescautious isn't playing ball, would you like to explain your guesses bigfoot12 ? I'd be happy to learn some lessons. Nothing very clever. I clicked on the name and viewed recent threads. I gave it a very casual look and spotted the above 5 companies. I have been lending with RS for a long time and I would expect that to have gone well so far for most people (not saying that it will in the future), conversely I have been unimpressed with TC (thought there have been big changes in the last few years and I haven't lent any new money for ages so I might be out of date), and I know there is a lot of unhappiness with PM (I'm not involved in PM but I keep an eye on it as I have similar investments with PP and THC). I have no experience and little knowledge of the other two - just guessed for the fun of it. Thinking about it more might switch them as I think BM had loans with Collateral so @yescautious might have been unlucky there.
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benaj
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Post by benaj on Jun 7, 2018 6:20:13 GMT
I also have some good days and bad days, but I am not ready to pull the P2P plug yet. Every money manager says that past performance is not an indicator of future results, but it's true we can also learnt a lot with data. If we look at the bigger picture, P2P lending has grown a lot since its beginning. Lending volume is growing but rates are more or less stabilising recently. According to data, the loss coverage is 3.26x in the UK. www.altfidata.com/commentary/significant-record-origination-month-uk-marketplace-lending/www.altfidata.com/marketdata/In a way, I feel like P2P Lending is like cutting edge technology in Linux OS. Lots of different models, and evolving as time goes on. |
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Post by Butch Cassidy on Jun 7, 2018 6:48:00 GMT
If you have made an overall loss over that 4 year period (much of which offered higher rates than currently available) you have either been very unlucky or simply backed the wrong horses in the P2P derby. As you are unwilling to name the platforms it is hard to judge but if bigfoot12 is anywhere near close I can't comment having not used any of those but what I can say is that over a similar period I have had profitable investments with AC, FC, MT, Abl, Rebs, LC LfSS, Mint, Col & even Bond/Ise. In fact I have made good money on everyone of those platforms over that period, albeit some have now changed their model beyond all recognition & I have either withdrawn or am in the process of on many of them.
Whilst some platforms maybe getting worse from a lenders point of view, even failing to the point of risking their own survival, as Col proved, the last 4 years will be viewed as the golden age of P2P where large returns were possible, given a bit of luck & judgement, before we are now moving to an era of corporatisation as platforms look to go mainstream like FC/AC or survivors that cling to small profitable niches. Making good money going forward will be much harder than the last 4 years!
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gareot
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Post by gareot on Jun 7, 2018 7:17:12 GMT
This is just my personal experience with the sites I've used. I've tried P2P since about 2014 across I think 6 different sites. Overall I'll probably have lost money, especially compared to inflation. Some of them which promised a lot ended up being bad. No surprises there. Some are outright shocking. Only really two have made me a profit and I don't want to name them since I have no idea where they're going either.
I was diversified and checked on sites before I put money in.
Overall I would say P2P has been a failure for me, and I would have been better off putting the money in a 1% a year bank account.
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gareot
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Post by gareot on Jun 7, 2018 7:22:06 GMT
I've done OK over the last 4+ years & still might but it all now depends on the outcome of the Collateral affair.
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Post by Ace on Jun 7, 2018 7:35:38 GMT
Since @yescautious isn't playing ball, would you like to explain your guesses bigfoot12 ? I'd be happy to learn some lessons. Nothing very clever. I clicked on the name and viewed recent threads. I gave it a very casual look and spotted the above 5 companies. I have been lending with RS for a long time and I would expect that to have gone well so far for most people (not saying that it will in the future), conversely I have been unimpressed with TC (thought there have been big changes in the last few years and I haven't lent any new money for ages so I might be out of date), and I know there is a lot of unhappiness with PM (I'm not involved in PM but I keep an eye on it as I have similar investments with PP and THC). I have no experience and little knowledge of the other two - just guessed for the fun of it. Thinking about it more might switch them as I think BM had loans with Collateral so @yescautious might have been unlucky there. Thanks for replying. I asked because, of the platforms that you mentioned in your original post, I have investments with RS and LW. Of those two I consider LW to be the safer and higher return. I was fairly sure that "no investor has lost money with LW" yet. My research hasn't tempted me to TC, BM or PM.
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angrysaveruk
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Post by angrysaveruk on Jun 7, 2018 9:18:59 GMT
P2P has also been fairly profitable for me. Apart from a small loss in Z+ I have probably earned about 6% pa since 2013. I have always stayed away from the high returns because I assume the people willing to pay these rates are in a desperate financial situation, stayed away from smaller platforms and selected a large platforms that I felt at the time was on the up and put the majority of my investments in that platform (firstly in Zopa then RS and now AC). I would rather put the majority of my money in a single platform I fell confident with.
I think P2P lending is something that will be about for a time to come, but as is often the case I would imagine economies of scale will result in 1 or 2 large companies dominating the industry.
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Nomad
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Post by Nomad on Jun 7, 2018 9:51:58 GMT
P2P has also been fairly profitable for me. Apart from a small loss in Z+ I have probably earned about 6% pa since 2013. I have always stayed away from the high returns because I assume the people willing to pay these rates are in a desperate financial situation, stayed away from smaller platforms and selected a large platforms that I felt at the time was on the up and put the majority of my investments in that platform (firstly in Zopa then RS and now AC). I would rather put the majority of my money in a single platform I fell confident with.
I think P2P lending is something that will be about for a time to come, but as is often the case I would imagine economies of scale will result in 1 or 2 large companies dominating the industry. From posts on this forum it would appear some posters did just that with Coll or Lendy. I'm in two platforms in a "big" way and four at a "medium" level. Have phased out the tiddlers...
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ashtondav
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Post by ashtondav on Jun 7, 2018 16:09:41 GMT
Was happy with Zopa for 8 or 9 years from 2005. RS, again happy until 5 year rates dropped below 6%. Happy with the new F.C. account, making 7%+. Happy with AC qaa and 40daa. Only just started with lendingworks but it looks good so far.
not happy with FS. I’ve lost money with them but only because I didn’t diversify enough, and naively accepted their valuations.
So, apart from one the performance has met my expectations.
No real secret except diversify and realise that anticipated returns only accrue to long term lenders who reinvest repayments. Short term punters who sell up or withdraw are left with a very sick loanbook.
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