zlb
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Post by zlb on Feb 5, 2020 19:12:58 GMT
Would it not be the case that if lenders pull out of unsecured loans like Z and LW wouldn't there be fewer lenders who would then just get a higher interest rate? Or owing to borrower demand, another platform sets up with a seed investment... and the whole cycle starts again? Wouldn't it be better if something like LW or Z actually work as an alternative investment?
I don't see this as a private hidden forum - I think it is seen by very very many people.
Anyway, my loan sale at Z set up at the weekend still hasn't started. If they fail in p2p would they still be permitted to set up a bank?
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Greenwood2
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Post by Greenwood2 on Feb 5, 2020 21:00:49 GMT
Would it not be the case that if lenders pull out of unsecured loans like Z and LW wouldn't there be fewer lenders who would then just get a higher interest rate? Or owing to borrower demand, another platform sets up with a seed investment... and the whole cycle starts again? Wouldn't it be better if something like LW or Z actually work as an alternative investment? I don't see this as a private hidden forum - I think it is seen by very very many people. Anyway, my loan sale at Z set up at the weekend still hasn't started. If they fail in p2p would they still be permitted to set up a bank? Assuming borrowers can't find a better rate elsewhere. Zopa pass on the bad debt directly to lenders, LW use a PF to 'protect' lenders, I think the Zopa model is a WYSIWYG model, the LW (and other) provision funds models gives a possibly false assumption that you are protected. If platforms fail as we have seen recently lenders lose big time, if another platform sets up to take their place it doesn't help the lenders that have lost their money on the dead platform. The platforms we use do act as an alternative investment, we're just not sure how successful those investments will be, and we all have different opinions of which ones will do best. A bit like the stock market really.
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benaj
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Post by benaj on Feb 5, 2020 23:26:21 GMT
Brief introduction, new to this forum. Long term P2P investor from way back, tried many different platforms, eleven to date spanning over a decade. ...... Truthfully now I am only able to recommend just a small handful of...... For those who wish to transfer IFISA to S&S ISA, I recommend AJ Bell for IFISA transfer. It will take cash component with ease. There is a discussion about Transfer from IFISA to S&S ISA. Stable investment platform, plenty investment choices and simple fee structures. p2pindependentforum.com/post/342300/threadwww.ajbell.co.uk/sites/ajbell.co.uk/files/AJB_policy_paper.PDF
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Post by Deleted on Mar 7, 2020 17:41:30 GMT
Brief update: Three months on and Zopa have still not fully transferred out and shut down my ISA. The lump sum has gone and any transferable funds have been moved to a new P2P ISA elsewhere, but there are still some dregs left which are sitting there, not transferred into my standard non ISA account and not able to remove either. It's all a mystery, but i get the impression they make this look a lot trickier than it really is, whilst all the time sitting on clients funds. Not at all impressed. Having been with Z for over twelve years it is sad that they have lost their way, with returns on the substantial ISA over the last year falling to just 1.6%. Prior to that the ISA was returning c. 4%. I am so glad I got out and took the hit, as funds are now generating decent 5+%.
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