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Post by freedommmm on Dec 5, 2018 11:41:14 GMT
Hi all
I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it.
Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones?
My requirements:
- Must return at least 8% for me to justify the risks.
- Must be secured by something. Be it property or otherwise.
- Must have a Provision Fund.
- Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only!
- No investors suffered losses
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Mike
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Post by Mike on Dec 5, 2018 12:03:58 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses You can get this by using referrals & other sign-up bonuses, but otherwise it sounds like you require lower risk than 8% currently commands in the market. AC for example offer £50 cash for investing £1000 over 12 months (plus whoever refers you gets £75; I'm sure many on here would split that with you too - including me!) as well as all the rest of your criteria for 4-5% (assuming you mean no investors suffered losses in that account, rather than on that platform; the latter wouldn't make much sense). There are also other goodies, iPads and cash, elsewhere although you might need to relax the "fast access"/"no losses" a bit on some platforms
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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 Dec 5, 2018 12:04:34 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses Think the denzien of my hat probably sums up the chance of you finding something that ticks all those boxes.
First two no problems but apart from Lendy no secured high rate platforms offer a PF Fourth one questionable, amazed you got 100% out of Lendy Fifth one - questionable
Welendus will do 4 out of 5, up to 15%, PF, currently liquid (no actual defined SM but you can withdraw if others take on loans), no losses due to PF, but its unsecured pay day lending Maybe Bridge Crowd, but not true P2P & unregulated lending, 12%, property secured, no losses AIUI, no PF, SM reasonably liquid AIUI (not invested) high min £5k per loan, loans go quick Proplend - up to 12%, no losses, secured, different risk levels on some loans, SM liquid AIUI, no PF, limited opportunities
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benaj
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N/A
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Post by benaj on Dec 5, 2018 12:26:02 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses Hmmm...., may be we should all start a new platform to fit all the above requirements Anyway, according to p2pbanking, these could be the closest www.p2p-banking.com/compare-ifisa-offers-p2p-lending-marketplaces-database/?fwp_ifisainterest=7.60%2C16.00&fwp_type=property&fwp_security=legal-charge%2Cprovision-fund&fwp_ifisamore=secondary-market-free%2Csecondary-market-allows-premiumsBut these do not have provision fund, liquidity is more loan dependent, and I don't know much about relendex No investors suffered losses? May be you should check this thread out, but probably won't fit most of the other requirements p2pindependentforum.com/thread/13683/losses-platforms?page=1
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Post by freedommmm on Dec 5, 2018 13:56:11 GMT
BTW I had alot of money in Lendy, however, started decreasing my position a few months ago and recently withdrew completely. I did it by actively managing risks i.e. only invested in longer loans and selling them when their duration became shorter. Even then I had a few painful close calls such as very large loan that simply didn't get filled for many weeks.
Actually Welendus sounds good. But how quick and workable are early withdrawals in real life? Anyone experienced them?
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Post by df on Dec 5, 2018 22:36:58 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses Welendus is probably the closest one to meet your very tight criteria, but there is no guarantee for quick withdrawals.
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Post by Proptechfish on Dec 5, 2018 23:00:41 GMT
I think you're asking a lot from your 5 criteria within P2P and i'm sure we would all like to see a platform that delivers on those criteria. I would concur with WeLendUs as a decent option right now but it should come with a health warning, fairly early days optimism and decent growth, the situation will change though and it's up to the individual where to place your bet on a withdrawal before the market tightens up.
As for your Lendy experience, i encourage you to have a dabble on the Lotto, because you must be the luckiest guy on earth if you managed a 100% withdrawal in 3 months. I executed a full withdrawal nearly 12 months ago and i have little hope for the residual balance left (approx 8%) on account earning no interest.
With P2P especially i don't lend what i can't afford to lose, for everything else there is a FSCS protected savings account.
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bigfoot12
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Post by bigfoot12 on Dec 6, 2018 0:55:28 GMT
I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Maybe it is time to stop getting investment advice from anonymous strangers on the internet!
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ashtondav
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Post by ashtondav on Dec 6, 2018 9:49:28 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses Sit down in your favourite chair, lean back and have a doze. Because you’re dreaming, my friend. lower your sights to 5% to 6% and go for RS or AC.
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Post by freedommmm on Dec 6, 2018 14:08:43 GMT
I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Maybe it is time to stop getting investment advice from anonymous strangers on the internet! Very sadly, this was NOT based on anonymous advice from internet. It was more "friends of friends" and some acquaintances who claimed to be experts in particular investments. They later proved to be utterly incompetent. In fact, advice from strangers on internet would have been better - because at the very least these would be less biased and because there would be a variety of opinions. Thanks for your replies, much appreciated!
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macq
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Post by macq on Dec 6, 2018 14:52:56 GMT
understand in away what you mean by it must be at least 8% for the risk and the statement has been used a lot over the last few years on here.But with shall we say teething problems with some platforms and the general concerns about the future economy would it not be better now to look at the platforms business plan and whether they have a sustainable future and a chance of growing by maybe offering less % But i agree that's still no guarantee but hopefully less risk equals less problems i have certainly thought over the years that someone like Lendy(and not to say they will not be sorted) would have problems before say Landbay which people always use as the lowest rate example Now if i had only listened to myself over the years!  If not there are some high rate - high risk car parking spaces being talked about on MSE forum to consider With what you are looking for with access,no losses etc i do feel you are looking at one of the black box type of accounts |
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ashtondav
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Post by ashtondav on Dec 6, 2018 15:46:40 GMT
One other thing. You would have to be VERY unlucky to lose as much as in dotcom and bitcoin.
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hantsowl
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Post by hantsowl on Dec 6, 2018 18:42:53 GMT
Hi all I recently pulled 100% of invested funds from Lendy. Call me chicken, but I have previously lost money when Dot Com Bubble had burst and also when Bitcoin plummeted and a few more places. Very hard lessons were learnt. Now that Lendy has 60% of loans turning bad (according to the newspaper articles), I do not wish to risk another minute of it. Now looking at possible other platform(s) to put funds into, I'm puzzled by information. Perhaps someone when recommend the best suitable ones? My requirements: - Must return at least 8% for me to justify the risks. - Must be secured by something. Be it property or otherwise. - Must have a Provision Fund. - Critical MUST! - This is a "parking" for money, not intending to keep there forever, so liquidity is important! Has to have a secondary market or some way of withdrawing funds very quickly. Not keen on paying selling fees though. This SM has to be functional and popular, not in name only! - No investors suffered losses I too have moved most of my funds from ly and likewise with mt and fs. The platform I currently rate most is Proplend. They meet all of your requirements apart from a PF, but the loans tend to be more secure so don’t really need one. No losses to date and SM is VERY liquid.
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hantsowl
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Post by hantsowl on Dec 6, 2018 18:45:18 GMT
One other thing. You would have to be VERY unlucky to lose as much as in dotcom and bitcoin. Unless you had funds in Col at the beginning of this year 
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Dec 6, 2018 19:07:33 GMT
Many of my uk platforms have been a disappointment and I am withdrawing from most when possible, apart from low returns with Assetz where I am hoping the borrowers are better quality.
I am still finding good returns in the Baltic states, over 10% and no defaults owing to buyback guarantees.
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