benaj
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Post by benaj on Dec 14, 2023 14:24:29 GMT
No idea why this is not popular and yet it is still up and running.
For those live close their SW10 office, you can pop in and have a chat. Or phone to talk to a real person.
Rates go higher if you are willing to lend 6 to 7 figure. Like others have said, diversification is no where as good as Loanpad, it feels more like AC PSA, the largest chunk could be 25%. Interest paid on 15th every month and you can sell any time, but liquidity is never guaranteed like all the FCA platforms.
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Greenwood2
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Post by Greenwood2 on Dec 14, 2023 14:27:12 GMT
On the other hand they have been around for a few years now with no losses (I think). But for those sort of rates I would prefer Loanpad with high diversification and some protection from losses from lender partners.
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benaj
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Post by benaj on Dec 14, 2023 15:24:37 GMT
I suppose the popularity of the platform has nothing to with investment performance much these days.
IIRC, AC was one of the most popular on this forum and yet EAA and 30DAA had trouble in the past despite well diversified with all the platform loans plus the protection of provision funds.
And yet, those platforms dying have many posts.
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Greenwood2
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Post by Greenwood2 on Dec 14, 2023 15:43:09 GMT
I suppose the popularity of the platform has nothing to with investment performance much these days. IIRC, AC was one of the most popular on this forum and yet EAA and 30DAA had trouble in the past despite well diversified with all the platform loans plus the protection of provision funds. And yet, those platforms dying have many posts. I think lenders are much more concerned about platform performance than they were, a bit of once (or more) bitten.
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benaj
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Post by benaj on Dec 14, 2023 16:13:38 GMT
Me too, that’s why I haven’t invested a 6 figure yet across all p2p platforms. Let alone those expert analysts not invested any and give ratings.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 14, 2023 21:02:37 GMT
Perhaps it's because their name is EasyMoney not Easy Money as in the thread title!
It looks like they are part of the Easyjet brand or a barefaced mis-representation. Notwithstanding, they are not mentioned by 4thway and I would never hand over money based on marketing or a website blazoned with Easy Money or EasyMoney - research data unavailable. Oh aye and the low return rates. They licence the name They are mentioned on 4thway (still panto season) but 4thway dont cover anyone who doesnt give them access and most platforms dont.
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Post by busybee on Dec 14, 2023 23:23:42 GMT
Great to see lots of comments on this board. I am only invested P2P wise in Easymoney and Loanpad as I see these two as some of the safest platforms. Safe means much more to me than higher interest and I have a fair bit invested in both. I say invested and not savings as that is what they are investments. Personally I don't invest in Stocks/Shares anymore, I have had my years of that but I need a half way house between full on investing and saving.
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Post by overthehill on Dec 15, 2023 10:52:19 GMT
Great to see lots of comments on this board. I am only invested P2P wise in Easymoney and Loanpad as I see these two as some of the safest platforms. Safe means much more to me than higher interest and I have a fair bit invested in both. I say invested and not savings as that is what they are investments. Personally I don't invest in Stocks/Shares anymore, I have had my years of that but I need a half way house between full on investing and saving.
Loanpad is fully diversified as far as I know but Easymoney is not and that adversely increases your risk of loss in a meltdown and fallout scenario, seen many times here. When Growth Street closed their doors I was never worried about any losses including interest because every investor had the same exposure irrespective of individual loan performance.
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benaj
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Post by benaj on Dec 15, 2023 11:22:16 GMT
I submitted a withdrawal request for my premium account. I wad in front if the sale queue as it seems other easy money lenders do no need money for xmas shopping
so, £££££ sold in less than 5 hours.
As for disclosure, I only lend when the rates are good enough. For 2023, I lend on Easy Money for 5 months while 9 months on Loanpad.
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billt
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Post by billt on Dec 15, 2023 17:03:15 GMT
Great to see lots of comments on this board. I am only invested P2P wise in Easymoney and Loanpad as I see these two as some of the safest platforms. Safe means much more to me than higher interest and I have a fair bit invested in both. I say invested and not savings as that is what they are investments. Personally I don't invest in Stocks/Shares anymore, I have had my years of that but I need a half way house between full on investing and saving. After many years I am coming to the same conclusion, bulk of my investment is in Loanpad, Still a big fan of Proplend, running down crowd property, Kuflink, Qardus, HNW and Somo, I gamble smaller amounts in Axia funder, (previous experience in TC, AC, BC, BM and CL). will take a look at Easymoney.
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Post by captainconfident on Dec 15, 2023 18:20:17 GMT
I've had about 1/2 the amount I have invested in Loanpad invested in Easymoney. It's all part of a balanced diet, eggs in one basket etc. As far as I know nobody lost money on this platform and I've had money there for some years now. The site and proposition is so simple that I don't think about it very often.
I'd be very interested to know if anyone ever had a default in one of their loans.
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Post by Ace on Dec 15, 2023 21:45:27 GMT
I've had about 1/2 the amount I have invested in Loanpad invested in Easymoney. It's all part of a balanced diet, eggs in one basket etc. As far as I know nobody lost money on this platform and I've had money there for some years now. The site and proposition is so simple that I don't think about it very often. I'd be very interested to know if anyone ever had a default in one of their loans. According to their stats page ( easymoney.com/statistics), they've had zero defaults. By that, I think they mean no actual losses, rather than the FCA definition of 180+ days beyond the scheduled repayment date. I'm not certain how to read their stats, but I think they are saying that there are no loans currently more than 45 days late, rather than no loans have ever been more than 45 days late. The main problem here is that the regulator does not adequately mandate and police a standard set of metrics across all platforms.
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Post by captainconfident on Dec 16, 2023 0:34:17 GMT
Thanks Ace, that was the link I missed and an interesting page. After I last wrote I experimentally put 1/6th of my holding up for sale to see what happens. It has all but been sold within 4 hours, so liquidity is currently v. good. I should have taken a screenshot as I can't see exactly what sold. There is a disadvantage, as previously noted in the thread that it can allocate too much to a single loan. This happens if you deposit a large chunk at one time. It would be better to trickle the money in to smooth the allocation. Alternatively, a cost-free sell-off such as I gave just done, then repurchase has a similar smoothing effect.
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Post by overthehill on Dec 16, 2023 10:45:55 GMT
Thread owner Nomad is still around I think so he could change the title to the company/brand name from a stampede trigger to invest money !
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Nomad
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Post by Nomad on Dec 17, 2023 0:53:35 GMT
Thread owner Nomad is still around I think so he could change the title to the company/brand name from a stampede trigger to invest money ! Done!
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