Nomad
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Post by Nomad on Dec 3, 2021 17:25:50 GMT
They have tweeted as follows -
Professional Investor🚨
💥Target rate 8%💥
Have the option to chose your loans
Get in contact with us today.
Has anyone looked into this?
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rocky1
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Post by rocky1 on Dec 3, 2021 17:58:30 GMT
google easymoney.com. 8% target is for investments of 1million+.AKA e money capital ltd at companies house.not for me i think after the last few years lessons learnt.
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jlend
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Post by jlend on Dec 22, 2021 16:17:46 GMT
They have been going since 2018.
Past performance is no guarantee and they are definitely a black box account unless you are a big hitter.
No loan has yet to make a loss.
Not had any difficulties investing or taking money out, no loans have ever been suspended so far.
Rates are less than they were.
Diversification could be better as with many of these similar accounts.
They say they are profitable.
This is not a recommendation just a few pointers if you are interested based on my experience.
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liso
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Post by liso on Oct 20, 2022 18:35:01 GMT
They are advertising a target of 5% interest on investments of 20K+ with no fixed term.
Does anyone have recent/current experience with them? Interested in your thoughts.
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Post by df on Oct 20, 2022 19:38:42 GMT
They are advertising a target of 5% interest on investments of 20K+ with no fixed term. Does anyone have recent/current experience with them? Interested in your thoughts. I don't have any experience with "Easy Money", but target of 5% is a very poor offer in the current environment.
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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 Oct 20, 2022 20:31:34 GMT
They are advertising a target of 5% interest on investments of 20K+ with no fixed term. Does anyone have recent/current experience with them? Interested in your thoughts. Ive had a small amount with them for a while. Biggest issue I would say is the danger of lack of diversification - any deposit you make will be stuck in the loan that is funding at the time so I have 70% of my funds in 4 loans and thats despite dropping money in across an 8 month period ... there is no rediversification other than capital repayments. No issues with any loans so far but as its auto invest no real info on any of the loans The perks are the attractive which if you count the money saved though discount or gained via cashback as defacto interest can boost your XIRR significantly depending on your spending/investment. According to their stats they have no defaults and no arrears Potentially its the best of auto-invest 'blackbox' accounts if you can avoid the concentration risk but I think that will be difficult - unclear what their loan flow is like, average number of loans per lender is 14 which seems very low
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benaj
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Post by benaj on Oct 20, 2022 21:06:25 GMT
Recent experience:
One loan has been “extended” recently. Loan parts cannot be sold if they are due for final payment until repaid or extended. Sales queue ££££ is reasonable. My recent sale request completed within one day. Min withdrawal is now £25 unless it is account balance is below £25. Withdrawal time is around 1-3 days.
Rate you get is likely close to the target rate. Risk A/B/C etc.
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liso
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Post by liso on Oct 21, 2022 11:32:02 GMT
df ilmoro benajThanks for your comments. Good to know that withdrawal is quick. Lack of loan diversification is a concern. Have reduced the size of my investment for that reason.
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jlend
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Post by jlend on Oct 24, 2022 11:28:19 GMT
I am currently diversified across 65 "loans", but some will be tranches of the same loan.
I have drip fed money in which is one of the reasons for the number of loans and diversity. Also depends on repayments and interest obviously. Very different from the auto diversification process with loanpad and assetz capital
All my loans are currently active. Withdraws are quick and there were no issues with withdrawal during covid
The vast majority of lending is done by wealthy customers, the average lender rate was nearly 8% when they published some stats.
Not much info on loans unless you are a big hitter when you can also choose your loans and get more information.
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jlend
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Post by jlend on Dec 14, 2022 15:44:38 GMT
Just FYI rates increasing from 15th Dec
Premium 4.53% Premium Plus 5.52% High Net Worth 6.51%
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qlassa
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Post by qlassa on Jan 7, 2023 20:37:33 GMT
Is the investment backed by only the underlying or this has the recourse to Easymoney or the broader Easygroup?
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Post by stevepn on Jan 20, 2023 16:55:40 GMT
Is the investment backed by only the underlying or this has the recourse to Easymoney or the broader Easygroup? No, your money has nothing to do with the Easygroup just Easymoney.
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dave2
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Post by dave2 on Jan 20, 2023 18:12:21 GMT
Is the investment backed by only the underlying or this has the recourse to Easymoney or the broader Easygroup? No, your money has nothing to do with the Easygroup just Easymoney. It is detailed/linked on the Easy group website, along with all the other Easy brands. >>> easy.com
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nick
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Post by nick on Jan 21, 2023 11:25:45 GMT
No, your money has nothing to do with the Easygroup just Easymoney. It is detailed/linked on the Easy group website, along with all the other Easy brands. >>> easy.comEasy Group's business model is to licence out the brand name for a cut of revenue - I wouldn't place any reliance on financial support from the wider Easy Group/Easy in the event of Easymoney getting into financial difficulty.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Jan 23, 2023 13:12:06 GMT
EasyMoney have a free cashback bonus until 31 January 2022. £250 on a £20k investment etc. I'm not sure if one can also get the £200 from using a cashback site like TopCashback? The only review on TopCashback states: "They waited nearly one and a half years to reject my cashback claim for no reason." Talking of rewards, does the 'easyMoney plus card' have any genuine discounts that are easy to benefit from? Or is it the usual trite that you have jump through a hundred hoops to potentially - if the tracking works and there are no admin issues - save 50p? Most importantly, what has performance and returns been like for anybody already investing with EasyMoney? The returns are relatively low at 4.53% or 5.52%. Is this more akin to a LoanPad investment or a CrowdProperty/Kuflink one? The statistics on the website are interesting. Thoughts on the metrics there? I always take such data with a pinch of salt, as P2P providers typically very cannily hide the information that doesn't reflect well on them. What ratio of current loans are first charge compared to second charge? Is the advertised average LTGDV of 62.94% accurate? Thanks.
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