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Post by ladywhitenap on Nov 6, 2018 21:05:23 GMT
Currently I'm in MT, ABL and extracting myself from LL (no surprises there).
I already have a good wedge in all the decent MT loans - and some less good ones.
I have arguably a bit more than I should in ABL.
Both platforms suit me well but need new loans from fresh borrowers.
With quite large sums repaying from MT now and in the next couple of months is could do with another platform to diversify into.
Big question is where? need some MT/ABL clones - Any thoughts please.
LW
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hazellend
Member of DD Central
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Post by hazellend on Nov 6, 2018 21:46:00 GMT
Maybe Huddle but early days for them still
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Post by ladywhitenap on Nov 6, 2018 22:04:40 GMT
Thanks, Yes I looked at them briefly a few weeks back. Must take a second look.
LW
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dh1
Member of DD Central
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Post by dh1 on Nov 6, 2018 22:14:30 GMT
Welendus, Proplend, Kuflink, Bridgecrowd worth a look. Huddle - well....
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Post by Ace on Nov 6, 2018 22:58:30 GMT
It's nothing like ABL or MT, but with your initials you should probably consider Lending Works.  |
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hantsowl
Member of DD Central
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Post by hantsowl on Nov 6, 2018 23:29:37 GMT
Currently I'm in MT, ABL and extracting myself from LL (no surprises there). I already have a good wedge in all the decent MT loans - and some less good ones. I have arguably a bit more than I should in ABL. Both platforms suit me well but need new loans from fresh borrowers. With quite large sums repaying from MT now and in the next couple of months is could do with another platform to diversify into. Big question is where? need some MT/ABL clones - Any thoughts please. LW I am also winding down Ly and MT and similarly have probably more than I should in ABL. I am slowly building up LI, but rates are lower ~6% and there is no SM. Relendex seem to offer good loans and have an SM, but do not seem very responsive to questions. My current favourite is Proplend who seem to offer good loans with different rate tranches to match risk. Downside for some would be £1000 minimum per loan, but from what I have experienced and read in various places they seem lower risk than most.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Nov 7, 2018 8:55:47 GMT
Currently I'm in MT, ABL and extracting myself from LL (no surprises there). I already have a good wedge in all the decent MT loans - and some less good ones. I have arguably a bit more than I should in ABL. Both platforms suit me well but need new loans from fresh borrowers. With quite large sums repaying from MT now and in the next couple of months is could do with another platform to diversify into. Big question is where? need some MT/ABL clones - Any thoughts please. LW I would suggest AC. It isn't a MT/ABL clone but if you want platform diversification that might not be a bad thing. Loan rates are typically 6-9%. They certainly made mistakes in their early days and there are a few problem loans at the moment, but I have generally been impressed (but I'm not in loan 227). Unfortunately you've just missed a cash back promotion of 1-2% that would have taken your (IRR) returns above 12%. There are over 200 loans with good size available, many new. There is an active secondary market. Might be worth a dabble and then scale up if there is a promotion in January.
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alibaba
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Post by alibaba on Nov 7, 2018 11:01:25 GMT
In order for AC to retain any shred of credibility they should clear up the problems with earlier loans, their new model is encouraging but personal recommendation and word of mouth are very powerful influences on growing businesses. Up front incentives do not cover up previous mistakes. Take a look at Lendy and TC to see how the head in the sand approach does not work. There are now a number of credible alternatives available.
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gareot
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Post by gareot on Nov 7, 2018 12:07:06 GMT
I found my way to this site yesterday - financial thing.com. Lots of reviews on different platforms if you click on the " popular peer to peer lending reviews " header in black on r/h side of page. Plenty of other info too.
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archie
Posts: 1,866
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Post by archie on Nov 7, 2018 12:17:30 GMT
If you don't own a mobile or have valid photo id it is difficult or impossible to add some platforms.
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Post by df on Nov 7, 2018 12:21:03 GMT
Currently I'm in MT, ABL and extracting myself from LL (no surprises there). I already have a good wedge in all the decent MT loans - and some less good ones. I have arguably a bit more than I should in ABL. Both platforms suit me well but need new loans from fresh borrowers. With quite large sums repaying from MT now and in the next couple of months is could do with another platform to diversify into. Big question is where? need some MT/ABL clones - Any thoughts please. LW Try FundingSecure. Not a clone, but similar interest rates and risk.
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Post by Butch Cassidy on Nov 7, 2018 15:12:50 GMT
Currently I'm in MT, ABL and extracting myself from LL (no surprises there). I already have a good wedge in all the decent MT loans - and some less good ones. I have arguably a bit more than I should in ABL. Both platforms suit me well but need new loans from fresh borrowers. With quite large sums repaying from MT now and in the next couple of months is could do with another platform to diversify into. Big question is where? need some MT/ABL clones - Any thoughts please. LW They are already my platforms of choice for what they do so any clone platform would be inferior IMO but if you want diversity; LC is vastly improved over the last couple of years & is a great place for SME lending (ideal replacement for FC) & Welendus is doing nothing wrong so would be my choice for consumer lending - read both forum threads for a feel of how they are perceived by lenders. I've finally left AC but if you want a blackbox type "savings account" perhaps an option.
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bigfoot12
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Post by bigfoot12 on Nov 8, 2018 0:23:23 GMT
If you don't own a mobile or have valid photo id it is difficult or impossible to add some platforms. What proportion of potential investors don't have either a driving licence or passport?
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bigfoot12
Member of DD Central
Posts: 1,817
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Post by bigfoot12 on Nov 8, 2018 0:29:51 GMT
In order for AC to retain any shred of credibility they should clear up the problems with earlier loans, their new model is encouraging but personal recommendation and word of mouth are very powerful influences on growing businesses. Up front incentives do not cover up previous mistakes. Take a look at Lendy and TC to see how the head in the sand approach does not work. There are now a number of credible alternatives available. They have cleared many of the early loans, which ones are you unhappy with? I mentioned 227 because the investors voted for an interest free period (I wouldn't have) and now things seem worse. If a platform has hundreds of loans, many paying double digit interest rates there will be defaults. I think that in the early days AC was occasionally a bit naive. I don't think that now, and they have toughened up their security since then. I am very happy with my AC investments over the years.
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archie
Posts: 1,866
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Post by archie on Nov 8, 2018 7:26:08 GMT
If you don't own a mobile or have valid photo id it is difficult or impossible to add some platforms. What proportion of potential investors don't have either a driving licence or passport? Me  No photo on driving license, passport expired years ago. No mobile.
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