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Post by easteregg on Dec 9, 2013 23:53:43 GMT
Just to let everyone know there are several new P2P companies now open for business. Rather than publish an exhaustive list, please refer the P2P companies. I'm still in discussions with these companies so the latest attributes may be tweaked over the next few days, but an interesting trend is for several of the new companies to separate lending from borrowing, so the company will lend the money, then the "lenders" will purchase these loans. I would still class this as P2P lending but diverging from the original concept slightly. |
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debeast
(o)(o)
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Post by debeast on Dec 11, 2013 13:19:29 GMT
There are so many now i'm losing track so thanks for your website!!
I seem to remember someone( i forget who) posting in the old forum about what the most important things to look for in a P2x platform was. I don't suppose anyone has that post!
/beastie
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Post by uncletone on Jan 22, 2014 11:53:49 GMT
Launching next month (according to their website): Landbay. Apparently they are following my three or four tweets. You could be their first lender!
Landbay.co.uk.
Being of modest means, I have not explored the site.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jan 22, 2014 16:08:20 GMT
Apparently they are following my three or four tweets. Don't get too excited Uncle T -- some TwitFaces will follow anything! 
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Post by uncletone on Jan 22, 2014 18:36:09 GMT
Apparently they are following my three or four tweets. Don't get too excited Uncle T -- some TwitFaces will follow anything! They'd have to be pretty desperate to follow me - I just checked: six tweets in four years. Six times I ended up wondering what the heck I was doing there.... 
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mikeb
Posts: 1,052
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Post by mikeb on Jan 22, 2014 18:49:26 GMT
Also there's www.crowdmission.com/ (crowd funding equity, not so much p2p) which seems to be struggling to gain traction for the first three pitches -- typical problem that any of these sites has when first launching, no lenders, no borrowers, vicious circle  Any strong opinions on that one? |
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Post by davee39 on Jan 22, 2014 19:02:05 GMT
Why rush to be first? The market is well supplied with established P2P companies, your money is not protected, and several companies have already sunk without trace. The 'we lend our money and sell the loans to you' model is new, untried and may not be entirely wholesome with regards to the companies history (Renamed payday lenders?). Chasing rates in the teens, clearly out of line with general markets, is not for me - except for a trial £200 in Funding Secure which is good value for the interesting loans and bizarre manual interventions needed to drive it.
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Post by easteregg on Jan 23, 2014 13:00:14 GMT
There are quite a few companies looking to launch in this space. There are now almost 30 companies looking for lenders and borrowers. Some companies without a large marketing budget are going to find it difficult!
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Post by elljay on Jan 23, 2014 18:50:37 GMT
Roll on regulation!
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Post by cautious on Jan 23, 2014 19:08:51 GMT
Hello all,
Greetings from a new member
Came across this one this evening 'Lending Works', who seem to have added the twist of an insurance policy, although as already pointed out by other members, as a new entrant to P2P, 'Why rush to be first to invest?'
As both a new member on this forum, and a new first time lender on RS it's all getting very confusing where to invest.
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bugs4me
Member of DD Central
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Post by bugs4me on Jan 23, 2014 21:18:46 GMT
Couldn't agree more. The FCA may have more red tape than the rest of the planet put together but the first thing a potential lender/investor will look for is the FCA logo. Think setting up a P2P/P2B - it sure sounds easy. In practise many flounder. Looking at one of the early P2P's. There's the odd borrowing offer but in all but name it's dead. So I expect many will just fade away without officially closing. Just my tuppence worth.
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bugs4me
Member of DD Central
Posts: 1,841
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Post by bugs4me on Jan 23, 2014 22:17:59 GMT
Hello all,
Greetings from a new member
Came across this one this evening 'Lending Works', who seem to have added the twist of an insurance policy, although as already pointed out by other members, as a new entrant to P2P, 'Why rush to be first to invest?'
As both a new member on this forum, and a new first time lender on RS it's all getting very confusing where to invest.
Another one. You need to be extremely careful about using that word - 'insurance' as it implies that you are fully underwritten by an FCA approved insurer. I've dropped them a line to enquire further.
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mikeb
Posts: 1,052
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Post by mikeb on Feb 21, 2014 18:36:44 GMT
Also there's www.crowdmission.com/ (crowd funding equity, not so much p2p) which seems to be struggling to gain traction for the first three pitches -- typical problem that any of these sites has when first launching, no lenders, no borrowers, vicious circle Any strong opinions on that one? A month later: Looks like still only three pitches available, well short of their funding totals, and with only 3 days to go before the 90 day pitches expire. Unless they start extending and extending the deadlines, it seems this one has failed to get off the ground. Looks an interesting idea, but I think everyone must be waiting for others to jump in first
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bugs4me
Member of DD Central
Posts: 1,841
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Post by bugs4me on Feb 21, 2014 22:38:00 GMT
Hello all,
Greetings from a new member
Came across this one this evening 'Lending Works', who seem to have added the twist of an insurance policy, although as already pointed out by other members, as a new entrant to P2P, 'Why rush to be first to invest?'
As both a new member on this forum, and a new first time lender on RS it's all getting very confusing where to invest.
Another one. You need to be extremely careful about using that word - 'insurance' as it implies that you are fully underwritten by an FCA approved insurer. I've dropped them a line to enquire further. Apologies all for not reporting back earlier. I did drop them a note to enquire about the Lending Works trust and insurance but they claimed confidentiality. I replied that under FCA rules they would be required to disclose the underwriting details especially as they mention those dreaded words 'trust' and 'insurance'. However they did initially claim that all UK based insurance companies are covered by the FSCS (and in fact the literature on their web site still claims this). This is not correct and they subsequently admitted the error. To quote - 'Reserve fund which is held in the ring-fenced Trust. This protects against borrower default risk and fraud and ensures lenders receive their expected returns.'
'Insurance policy with a UK-based insurer that protects against extraordinary risks such as a major negative economic event occurring.'They declined again so I have no idea who administers the 'trust' and who the insurance underwriters are. It follows any involvement on my part would be a no go. I do as much DD on the companies fronting a P2P/P2B operation as those requiring a loan. Currently there is no reference to them as interim authorised by the FCA although appreciate the register can be a little behind at times.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Feb 21, 2014 22:52:09 GMT
Thank you for your detective work and assessment, Bugsy. |
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