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Post by uksoul on Mar 9, 2019 10:53:56 GMT
I recently joined Proplend, have £5k invested at the moment. Thinking of increasing this to £12K over the next 3 months via proceeds from matured fixed bonds. Wondering if any proplenders are also increasing their investments and would welcome thoughts from Proplenders on their experience to date.
Thanks.
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hantsowl
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Post by hantsowl on Mar 9, 2019 12:54:09 GMT
I started investing with PL last August and have filled this years ISA allowance. I recently transferred some older ISA money also. I rate them one of the safest p2p sites and will be increasing my exposure. My investments are spread across most of the loans to reduce risk. Just be aware that some borrowers have multiple loans so take care when buying if your aim is to reduce risk by lending to different borrowers.
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Post by uksoul on Mar 9, 2019 16:12:26 GMT
I started investing with PL last August and have filled this years ISA allowance. I recently transferred some older ISA money also. I rate them one of the safest p2p sites and will be increasing my exposure. My investments are spread across most of the loans to reduce risk. Just be aware that some borrowers have multiple loans so take care when buying if your aim is to reduce risk by lending to different borrowers. [br Agreed on the level of safety compared to many other similar sites. A good point raised about multiple loan borrowers, I noticed recently one borrower had several new loans. Any tips to gain access to the tranches B and C which offer the higher level interest? They seeem to go in seconds..is it just a case of first come first served? Thanks
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hantsowl
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Post by hantsowl on Mar 9, 2019 16:33:36 GMT
I started investing with PL last August and have filled this years ISA allowance. I recently transferred some older ISA money also. I rate them one of the safest p2p sites and will be increasing my exposure. My investments are spread across most of the loans to reduce risk. Just be aware that some borrowers have multiple loans so take care when buying if your aim is to reduce risk by lending to different borrowers. [br Agreed on the level of safety compared to many other similar sites. A good point raised about multiple loan borrowers, I noticed recently one borrower had several new loans. Any tips to gain access to the tranches B and C which offer the higher level interest? They seeem to go in seconds..is it just a case of first come first served? Thanks For the smaller loans you usually have 30-60 seconds to grab a B or C. Medium loans give maybe a couple of minutes. The currently active JQOP loan is much larger and had B available for a few days. I have yet to fail grabbing a B or C (apart from my own faux pas). The other alternative is to pick them up on the PLE, and they do appear from time to time. When I was building my portfolio, I picked up a lot from the PLE. My method was to use a 30 second refresh of the PLE on my laptop and just leave it running alongside my armchair. I would glance at it occasionally and would usually spot when something appeared. Once spotted, you can almost always grab it.
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Post by uksoul on Mar 9, 2019 17:40:55 GMT
Xmas i picked up a great C loan on the PLE and noticed lots of activity on the PLE during that time. I have noticed a few B+C's on the PLE but never had the funds readily available to get them instantly. I plan on leaving a sum in my account shortly to be able to take advantage of the PLE as you said. That's encouraging that you have always picked up B or C. A great tip about the 30 sec PLE refresh..Thanks
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mjc
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Post by mjc on Mar 9, 2019 23:33:32 GMT
I don’t think the timed refresh can be done on an iPad?, that’s all I use these days. It would be helpful proplend to have an option of an email when a new loan appears on the PLE. I’d agree with the apparent safety of this platform, just hope they can scale up the loan availability whilst maintains the high standards. Getting a slice of a loan that goes in 30secs in an ISA that takes 3 weeks to transfer is problematic. So I transferred some then flexed it out (in a couple of days) to drip it back (within a couple of hours) as needed, so that I only have typically £1k of cash drag at any time. But needs to be fully flexed back in end of this month!!! (For a few days)
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Post by uksoul on Mar 10, 2019 0:29:58 GMT
I don’t think the timed refresh can be done on an iPad?, that’s all I use these days. It would be helpful proplend to have an option of an email when a new loan appears on the PLE. I’d agree with the apparent safety of this platform, just hope they can scale up the loan availability whilst maintains the high standards. Getting a slice of a loan that goes in 30secs in an ISA that takes 3 weeks to transfer is problematic. So I transferred some then flexed it out (in a couple of days) to drip it back (within a couple of hours) as needed, so that I only have typically £1k of cash drag at any time. But needs to be fully flexed back in end of this month!!! (For a few days) Not sure on the ipad refresh. Yeah an email in advance of a PLE loan would be nice but i imagine that may limit the access further as the best PLE loans are often gone in secs. Sounds troublesome with your ISA funding but worth it with the loans Proplend has.
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morris
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Post by morris on Mar 10, 2019 17:26:13 GMT
I'm thinking of investing a few thousand of next years ISA. What puts me off however is that the interest would have to be withdrawn to be re-used. Is there any way I can keep it in Proplend to be re-used? It would take a long time to amount up to the minimum investment.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Mar 10, 2019 17:47:03 GMT
I'm thinking of investing a few thousand of next years ISA. What puts me off however is that the interest would have to be withdrawn to be re-used. Is there any way I can keep it in Proplend to be re-used? It would take a long time to amount up to the minimum investment. Not AFAIK. This is one of the drawbacks of the platform (which does have a lot going for it.) If you withdraw the interest you will lose the tax shelter. EDIT; corrected by p2pmark below.You could transfer it out as there is no charge but that's a lot of hassle for a small amount. One idea is that you initially put a sum into a cash ISA alongside the PL ISA. Then periodically transfer enough from the cash ISA to the PL ISA to top up the interest to the minimum investment level. However the interest rate differential between the two ISA types means that you would likely get even less interest, although safer.
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Post by uksoul on Mar 10, 2019 18:40:53 GMT
I'm thinking of investing a few thousand of next years ISA. What puts me off however is that the interest would have to be withdrawn to be re-used. Is there any way I can keep it in Proplend to be re-used? You can keep the interest in Proplend to be reused. I believe it's gets a rate of .25%. I tend to keep the interest on the platform and just add to it when another loan comes up I want.You can transfer it out but there is a small charge for amounts under 1k.
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p2pmark
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Post by p2pmark on Mar 10, 2019 19:03:46 GMT
I'm thinking of investing a few thousand of next years ISA. What puts me off however is that the interest would have to be withdrawn to be re-used. Is there any way I can keep it in Proplend to be re-used? It would take a long time to amount up to the minimum investment. Not AFAIK. This is one of the drawbacks of the platform (which does have a lot going for it.) If you withdraw the interest you will lose the tax shelter. You could transfer it out as there is no charge but that's a lot of hassle for a small amount. One idea is that you initially put a sum into a cash ISA alongside the PL ISA. Then periodically transfer enough from the cash ISA to the PL ISA to top up the interest to the minimum investment level. However the interest rate differential between the two ISA types means that you would likely get even less interest, although safer.As the As the ISA is flexible, I understand that it retains its tax shelter if you put it back in before the end of the tax year. So you can accumulate interest over a few years to try to get up to the minimum. Littleoldlady's point still stands though - it's difficult to accumulate enough interest to meet the minimum.
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hantsowl
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Post by hantsowl on Mar 10, 2019 19:09:55 GMT
The small charge is actually for amounts under £50. Any withdrawal over £50 is free.
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Post by uksoul on Mar 10, 2019 19:32:46 GMT
The small charge is actually for amounts under £50. Any withdrawal over £50 is free. Yes that's correct hantsowl..thanks for the correction.
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