ozaz
Posts: 36 
Likes: 15
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Post by ozaz on Apr 13, 2019 13:20:31 GMT
Hi,
I currently have enough P2P investments in business and property development loans, but I would like to increase my holdings in personal loans.
I want to use an IFISA and take a hands-off (auto-invest) approach.
I am aware of Zopa and Lending Works as platforms which will allow me to achieve this. Are there any other platforms I should consider?
Thanks
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Post by wiseclerk on Apr 13, 2019 13:46:16 GMT
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ozaz
Posts: 36
Likes: 15
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Post by ozaz on Apr 13, 2019 16:32:21 GMT
Thanks. I wasn't aware of that search tool.
I had also been under the impression Ratesetter invested in a combination of personal and business loans.
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ashtondav
Member of DD Central
Posts: 1,814
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Post by ashtondav on Apr 14, 2019 10:08:19 GMT
Thanks. I wasn't aware of that search tool. I had also been under the impression Ratesetter invested in a combination of personal and business loans. Hard to tell because borrowers rarely tell the truth. “It’s for a wedding”, “it’s for a car”, “it’s to pay off my credit cards”. Can all mean: “it’s to support my cr*ppy business idea.”
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Apr 14, 2019 16:28:07 GMT
Rather than trust borrowers to tell the truth. Most will be honest folks. You should add Welendus to your portfolio. They do more detailed credit score on borrowers. Currently you don’t get any defaults as loans are bought back by the platform if they are heading that way. They then deal with recovery that maintains their provision fund.
As long as this continues their default rate about 13% for 2018 has little to no effect on lenders and merely give potential new lenders information they may want to assess the future viability of the platform. They have a FISA and returns of 5-15% ( You choose your risk level per investment)
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