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Post by aidanw on Jan 27, 2020 19:22:17 GMT
Well I've now disinvested and gone into AC 90 day instead. I can't say I'm feeling that much more confident there after picking up a load of loans already in collection!
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Post by Deleted on Feb 5, 2020 17:28:37 GMT
New to the forum and quite shocked at the level of disdain most have for P2P as an investment generally. My first post was to question Z and their dive in rates and slow ISA transfer out, but little did I expect pretty much EVERY platform to be taken apart!
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Post by Undecided on Feb 5, 2020 17:38:52 GMT
Rolling every 30 days but if there is a "Liquidity Event" GS can turn on your AutoInvest and prevent you cancelling orders so that you cannot get access to your money!
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Nomad
Member of DD Central
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Post by Nomad on Feb 5, 2020 17:47:26 GMT
New to the forum and quite shocked at the level of disdain most have for P2P as an investment generally. My first post was to question Z and their dive in rates and slow ISA transfer out, but little did I expect pretty much EVERY platform to be taken apart! This is the GS sub section and for me GS have been totally sound, good rates and extremely efficient at all times. I like the GS model a great deal, rolling every 30 days is both novel and good risk/reward. Those with the strongest disdain tend to be the most vocal.
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Post by casper on Feb 5, 2020 18:12:58 GMT
Anyone else receive the email about the new terms? Any idea what actually changed, if anything?
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jlend
Member of DD Central
Posts: 1,817
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Post by jlend on Feb 5, 2020 18:17:20 GMT
Rolling every 30 days but if there is a "Liquidity Event" GS can turn on your AutoInvest and prevent you cancelling orders so that you cannot get access to your money! To be fair to GS that has always been the case, it is just more explicit in the Terms now following the FCA changes last year. There is no large magic pot of liquidity if there are insufficient lenders.
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r00lish67
Member of DD Central
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Post by r00lish67 on Feb 5, 2020 18:21:59 GMT
New to the forum and quite shocked at the level of disdain most have for P2P as an investment generally. My first post was to question Z and their dive in rates and slow ISA transfer out, but little did I expect pretty much EVERY platform to be taken apart! This is the GS sub section and for me GS have been totally sound, good rates and extremely efficient at all times. I like the GS model a great deal, rolling every 30 days is both novel and good risk/reward. If it seems like every platform is being taken apart, well, it's because cynicism has thus far been richly rewarded in P2P. Collateral/Lendy/FS collapsed in acrimonious circumstances, Moneything underperformed and is in wind-down, there's been another 2-3 Euro platforms go down or be hobbled in recent weeks, LendingWorks has p**d of its investors by cutting their rates, Zopa has underperformed and wants to be a bank, FC has its own long running withdrawal thread and has lost 80% of it's value since its IPO. This is not a comprehensive list. Re: GS in particular, I would imagine that you might be less happy with them had they not opted to cover the cost of their two recent £1m defaults, or indeed not chosen to contribute fairly heavily from their own funds to support their PF in recent years prior to this. They may not opt to do so again in the future (I don't know). Likewise, RS investors with the wholesale lending episode which again thankfully RS chose to cover - this time. It's easy to be lulled into a false sense of security by those platforms that offer this type of product, because they initially pay exactly what they say on the tin without you having to pay for those pesky defaults, and are reluctant to receive bad press in their early years even if it really doesn't go well. Eventually however if bad performance does continue, then they're not a charity (I'm speaking generally here). In short, wherever you invest in P2P at the moment, I would contend that the risk/reward ratio you feel is skewed in your favour is probably rather more levered towards long term risk than reward. (needless to add, Bah Humbug ) edit: Despite the above, I'm not saying don't invest with GS or P2P in general, just that it's a lovely place to swim providing you avoid the sharks, piranhas, tangleweed, quicksand, leeches.....etc etc.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Feb 5, 2020 18:28:13 GMT
New to the forum and quite shocked at the level of disdain most have for P2P as an investment generally. My first post was to question Z and their dive in rates and slow ISA transfer out, but little did I expect pretty much EVERY platform to be taken apart! This is the GS sub section and for me GS have been totally sound, good rates and extremely efficient at all times. I like the GS model a great deal, rolling every 30 days is both novel and good risk/reward. If you weren't exposed to Collateral, Lendy, FS et al, you may not be looking for early signs of problems in the same way that lenders who have suffered massive losses are. Some of us have had a severe reality check when it comes to P2P. You should read the early posts on some of the now failed platforms, great rates, high liquidity, etc, etc, until it isn't. You get more of a 'heads up' joining this forum these days. And platform failure is the number one concern. Edit: Crossed with above. Edit: But most of us posting are still investing in P2P!
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Nomad
Member of DD Central
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Post by Nomad on Jun 15, 2020 14:53:45 GMT
I thought right from the start that growth street was dodgy the moment I got my bonus I was gone. 5.3% plus 4% (£200 bonus) made it worth the risk....just. I just did not consider 5.3% any where near a fair reward. Basically they were lending to people with cashflow problems or at least that's the way I saw it. Okay cashflow problems maybe exaggerating but I always considered it in that sort of mindset. I suspected they were getting very tasty reward to risk our money. I think everyone is making the right decision get out while you still can. Sound thinking; glad I exited.
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Post by gravitykillz on Jun 15, 2020 17:22:27 GMT
I am glad I got out too. However still got money in assetz crowdproperty and lendinvest. But I have more confidence in those platforms.
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