beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 14, 2021 17:04:35 GMT
Would you invest again? For ratesetter i am sure who read this (nonsense at times).
We have all made our points etc. However, would you put your money where you mouth is and reinvest ?
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Post by Ace on Jan 14, 2021 17:14:24 GMT
A likely popular option seems to be missing!!!
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lara
Posts: 345
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Post by lara on Jan 15, 2021 4:26:28 GMT
beagle , as Ace has alluded to, we could do with having "NO" as an option here!
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 15, 2021 7:49:38 GMT
beagle , as Ace has alluded to, we could do with having "NO" as an option here! Oddly I added it and it isnt showing.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 15, 2021 7:54:14 GMT
removed and added again
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adrianc
Member of DD Central
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Post by adrianc on Jan 16, 2021 15:55:44 GMT
If it went back to the way it used to work, without the rate haircut, I might well consider it. It did well for me - a tidge under 6% annualised return over the nearly five years since I opened my account, 25% more actual hard cash withdrawn than deposited.
But the current setup? Nope.
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mogish
Member of DD Central
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Post by mogish on Jan 16, 2021 20:51:12 GMT
If it went back to the way it used to work, without the rate haircut, I might well consider it. It did well for me - a tidge under 6% annualised return over the nearly five years since I opened my account, 25% more actual hard cash withdrawn than deposited. But the current setup? Nope. As above , bring back the RS we loved.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 16, 2021 22:48:46 GMT
If it went back to the way it used to work, without the rate haircut, I might well consider it. It did well for me - a tidge under 6% annualised return over the nearly five years since I opened my account, 25% more actual hard cash withdrawn than deposited. But the current setup? Nope. As above , bring back the RS we loved. at 6% rates they can't be profitable really...
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Post by oppsididitagain on Jan 17, 2021 13:09:52 GMT
I liked the RS back in 2014/2015 when you had your funds repaid every month. Obviously that wouldn't work in this climate.
I would reinvest with them, if the rate reflected the risk. I still have money in the 5yr earning 6.4%,
I think a lot of people misunderstood the access account to be immediate access, when in fact it was more access at no cost/penalty but we dont know the timeframe. Too many investors also used RS like an easy access bank account, which in tough times as we have seen, it wasn't. but is that RS fault ? I think overall they did a good job of managing our money compared to other P2P sites..
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ashtondav
Member of DD Central
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Post by ashtondav on Jan 17, 2021 13:37:05 GMT
The only p2p I would go for is the big boys who have continued to operate. And that is only Zopa. Followed by A/C in second place, because my interest rates have been (relatively) unaffected and remain higher than zopa’s.
Because of favourable comments I have dipped my tootsies in the tiddler loanpad. But the big boys who completely wrecked their business model and had appalling coms - FC and RS? Well let’s just say the new offer. Would have to be very tempting, and have a new board of directors!
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 17, 2021 14:06:58 GMT
The only p2p I would go for is the big boys who have continued to operate. And that is only Zopa. Followed by A/C in second place, because my interest rates have been (relatively) unaffected and remain higher than zopa’s. Because of favourable comments I have dipped my tootsies in the tiddler loanpad. But the big boys who completely wrecked their business model and had appalling coms - FC and RS? Well let’s just say the new offer. Would have to be very tempting, and have a new board of directors! Zopa suffered some heavy capital losses
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ashtondav
Member of DD Central
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Post by ashtondav on Jan 18, 2021 8:49:59 GMT
The vast majority who continued to reinvest in Zopa made money. Those who have sold are, of course, left only with bad loans. Zopa continue to lend retail money, but none of the other big boys are able or willing to do this.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 18, 2021 8:52:41 GMT
The vast majority who continued to reinvest in Zopa made money. Those who have sold are, of course, left only with bad loans. Zopa continue to lend retail money, but none of the other big boys are able or willing to do this. as retail money is expensive, you need to handle many people, varying rates, cost of funds are all over vs 1 rate, 1 steady source of funds, 1 customer.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jan 18, 2021 11:35:27 GMT
The only p2p I would go for is the big boys who have continued to operate. And that is only Zopa. Followed by A/C in second place, because my interest rates have been (relatively) unaffected and remain higher than zopa’s. Zopa is now a bank. That alone is enough to put me off ever using them again for p2p.
(Zopa used to hate banks, which is why it was originally created: To take them on. That hasn't worked out too well)
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jan 18, 2021 11:42:44 GMT
The vast majority who continued to reinvest in Zopa made money. Those who have sold are, of course, left only with bad loans. Zopa continue to lend retail money, but none of the other big boys are able or willing to do this. I'm still averaging 4.5% on Zopa + early adopter bonus + tax relief on losses, seems pretty reasonable to me.
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