rscal
Posts: 985
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Post by rscal on Sept 6, 2023 7:36:25 GMT
Premium is probably more of a winner, but it looks like LP might be going through very challenging times. Probably is tough to manage at the moment, though I'm sure they keep a weather eye out for average investor balances, still around the same level as six months ago (while number of investors is up 8% in the same period). I was going to suggest they always have the 'term option' but that is already implemented in 60 days Premium notice and you really don't want to give people too many options - so that leaves the [rhetorical] question: how did they opt for that period of notice and not a different one? (a first guess might be as its the middle of '30,'60' or '90')
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Post by scepticalinvestor on Sept 6, 2023 9:19:10 GMT
AER equivalents are up to: 5.65% for Classic, 6.50 for Premium. Yes, these are the realistic comparison figures. That's what AER is for, but I guess p2p platforms are not allowed to use it. The difference between Santander issue 3 and LP Classic is 0.45%. Not attractive. Santander easy access allows transactions from and to any bank account and they are instant and FSCS protection is the bonus that LP can't offer. Premium is probably more of a winner, but it looks like LP might be going through very challenging times. That's a fair point. For my ltd. Co. funds, the difference is 3.15% AER at Aldermore Vs 5.65% at LP, which is acceptable for me, up to a certain amount. For my personal funds with true instant-access 5.20% FSCS available with a high-street bank, the extra that LP pays simply isn't enough for me.
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Post by nesako on Sept 6, 2023 18:12:37 GMT
For me LP still has a place as I use it to store some of my ISA allowance.
Best flexible ISA is with Tesco at 4.4%, so LP is still good to maximise tax free earnings before putting the rest to best possible FSCS protected account.
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