Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 22, 2019 18:41:52 GMT
Thanks for the advice. I usually work 5 days a week and i presume these loans get filled up fast. I think i have set a reasonably safe criteria. A loans,60% ltv,minimum 5%, £100 per loan. But only issue is you have to give them a bank statement to set auto withdrawal? I bank online so its very rare to get any kind of statement. But its not impossible. Also i am presuming there is no kind of emergency withdrawal? You have to wait until the loans end. For such low returns I would expect you would be cosidering Welendus having 5-15% and a provision fund of over 100% that buys any late loans before they default, FCA approved with FISA. £100 initial investment in the platform you select interest you want.
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Post by gravitykillz on Jan 22, 2019 19:17:11 GMT
I am going slow with welendus considering it is fairly new and according to recent comments has a non existant customer service. Lendinvest has smaller returns but seems more stable. So far i have spread my p2p funds
Ratesetter 50% Lending works 20% Growth street 18% Lendinvest 12% Welendus £250
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Post by gravitykillz on Jan 22, 2019 19:37:24 GMT
I think 5 p2p accounts is enough. But i am curious how many p2p accounts do you lot have ? And percentage wise how do you spread your funds between these accounts?
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benaj
Member of DD Central
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Post by benaj on Jan 22, 2019 20:27:37 GMT
It’s January, so I am in the process reviewing my p2p return across all the platforms I invested. To be honest, I didn’t know there was so many platforms out there before I joined this forum, now i invest in 15+ platforms. Some platforms offer good bonuses for joining or further investment.
A few things I like about LendInvest is the length of investment term, reliable monthly payment, loans fully repaid in less than 18 months usually, minimum investment starts from £100. It’s definitely much better than RS 1year return.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 22, 2019 21:38:25 GMT
I assume people are aware that lendinvest isn't p2p but Alternative Investment Funds & thus not cover by any rules relating to P2P ie no P2P loss relief.
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Post by gravitykillz on Jan 22, 2019 21:56:07 GMT
So why is this on the p2p independent forum ? I understand the difference but it does not affect me. My objective is to increase my capital over time.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
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Post by ilmoro on Jan 22, 2019 22:08:24 GMT
So why is this on the p2p independent forum ? I understand the difference but it does not affect me. My objective is to increase my capital over time. Legacy. It was P2P but decided to not pursue full authorisation. Not everything on the forum relates to P2P, it covers broader alt finance as well. As you listed it amongst places you had distributed your P2P funds, thought it was worth highlighting.
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pom
Member of DD Central
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Post by pom on Jan 23, 2019 9:41:36 GMT
I am going slow with welendus considering it is fairly new and according to recent comments has a non existant customer service. Lendinvest has smaller returns but seems more stable. So far i have spread my p2p funds Ratesetter 50% Lending works 20% Growth street 18% Lendinvest 12% Welendus £250 The question I'd suggest you ask yourself is, irrespective of %ages, are the sums per platform small enough that it wouldn't matter if for some reason the whole platform became illiquid/unavailable for a prolonged period of time. I'm sure when I first said I always limit my platforms to a "comfortable" amount however much I might like them a lot of people thought I was paranoid/over-cautious, but that was before Collateral. Whilst I think it highly unlikely, given the amount of time it's taking to sort out the COL loan book, just imagine the chaos that would ensue if say the RS databases became corrupted. At the rather more likely end of the scale sooner or later there will be a platform that will run out of provision funds, which will quite likely cause a rush to exit and trash liquidity. And so on. Anything can fail given long enough and the right conditions. Now I'm sure your intention is to even out the allocations over time, but is even 20% a comfortable sum for you? (you don't mention - apols if you have elsewhere - how significant your p2p pot is in relation to other investments) I think 5 p2p accounts is enough. But i am curious how many p2p accounts do you lot have ? And percentage wise how do you spread your funds between these accounts? I'm at 25 "active" now (no I'm not recommending this many!! I planned on 10, but you gotta kiss a lot of frogs and actually I didn't find many I really hated), tho a lot of those are either waiting to exit or smallish amounts that I don't want to increase but can't be bothered to kill off either as they're bubbling along nicely...with 3 more where my exit has been stalled due to unexpected circumstances (approx 5% of my total p2p). Not as evenly distributed as I originally intended as 50% is in my top 4, so I shall probably be reducing those, but if a platform doesn't have the deal flow I'd rather have fewer loans with them than start increasing my amount per loan (tho more than half are "black box" now anyway). My p2p pot was about 20% of my overall wealth, tho will be higher at the moment thanks to the stock market (I'm actually avoiding looking).
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Post by gravitykillz on Jan 23, 2019 10:13:09 GMT
I am going slow with welendus considering it is fairly new and according to recent comments has a non existant customer service. Lendinvest has smaller returns but seems more stable. So far i have spread my p2p funds Ratesetter 50% Lending works 20% Growth street 18% Lendinvest 12% Welendus £250 The question I'd suggest you ask yourself is, irrespective of %ages, are the sums per platform small enough that it wouldn't matter if for some reason the whole platform became illiquid/unavailable for a prolonged period of time. I'm sure when I first said I always limit my platforms to a "comfortable" amount however much I might like them a lot of people thought I was paranoid/over-cautious, but that was before Collateral. Whilst I think it highly unlikely, given the amount of time it's taking to sort out the COL loan book, just imagine the chaos that would ensue if say the RS databases became corrupted. At the rather more likely end of the scale sooner or later there will be a platform that will run out of provision funds, which will quite likely cause a rush to exit and trash liquidity. And so on. Anything can fail given long enough and the right conditions. Now I'm sure your intention is to even out the allocations over time, but is even 20% a comfortable sum for you? (you don't mention - apols if you have elsewhere - how significant your p2p pot is in relation to other investments) I think 5 p2p accounts is enough. But i am curious how many p2p accounts do you lot have ? And percentage wise how do you spread your funds between these accounts? I'm at 25 "active" now (no I'm not recommending this many!! I planned on 10, but you gotta kiss a lot of frogs and actually I didn't find many I really hated), tho a lot of those are either waiting to exit or smallish amounts that I don't want to increase but can't be bothered to kill off either as they're bubbling along nicely...with 3 more where my exit has been stalled due to unexpected circumstances (approx 5% of my total p2p). Not as evenly distributed as I originally intended as 50% is in my top 4, so I shall probably be reducing those, but if a platform doesn't have the deal flow I'd rather have fewer loans with them than start increasing my amount per loan (tho more than half are "black box" now anyway). My p2p pot was about 20% of my overall wealth, tho will be higher at the moment thanks to the stock market (I'm actually avoiding looking). Thanks for the feedback. Approx 30% of my savings are now in p2p lending Accounts and around 10% in equities (which have done horribly). The rest in cash earning 1.5%. Maybe you are right in i should stop adding to this as anything can happen at anytime. Especially with a no deal brexit round the corner.
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dandy
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Post by dandy on Jan 23, 2019 10:28:47 GMT
Slightly drastic thread title - crops up every few weeks and makes me skip a beat
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Post by gravitykillz on Jan 26, 2019 21:54:03 GMT
Been almost 5 days and autoinvest has not invested into a single loan (which met 60% ltv, tranch a, minimum 5%). And i am not able to withdraw for 3 months as well ? This platform takes cash drag to another level.
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Post by gravitykillz on Jan 26, 2019 21:55:15 GMT
Its also been 4 days since i downloaded my bank statement and still no confirmation.
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benaj
Member of DD Central
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Post by benaj on Jan 26, 2019 22:31:39 GMT
Been almost 5 days and autoinvest has not invested into a single loan (which met 60% ltv, tranch a, minimum 5%). And i am not able to withdraw for 3 months as well ? This platform takes cash drag to another level. Try changing your criteria, there's atleast 5 loans since Monday, 4 of them have 5%+ return but higher LTV. Regarding withdrawal, contact helpdesk. Mine is usually done quickly. For exmaple De******** Ro** pays 6.5%, LTV 64.1%
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