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Post by khampson on Jul 5, 2022 10:36:26 GMT
Hello, I am looking for recommendations for new platforms to invest in.
I am looking for something similar to unbolted (not the same business model or pawn loans) so loans that offer 6%+ interest and loans up to 6 months.
I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some.
Thank you
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Post by Ace on Jul 5, 2022 11:50:28 GMT
Hello, I am looking for recommendations for new platforms to invest in. I am looking for something similar to unbolted so loans that offer 6%+ interest and loans up to 6 months. I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some. Thank you I don't think there are any platforms similar to Unbolted anymore, I.e. pawn type specialists (since Connective Lending closed to retail investors). I would suggest a look at CrowdProperty and Kuflink as a couple of platforms at the safer end of the spectrum that pay over 6%. There are plenty of others worth trying, depending on your exact requirements. This thread details a list of alternatives that I've been investing in.
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Post by df on Jul 5, 2022 17:26:13 GMT
Hello, I am looking for recommendations for new platforms to invest in. I am looking for something similar to unbolted (not the same business model or pawn loans) so loans that offer 6%+ interest and loans up to 6 months. I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some. Thank you Although cash drag on UB is inevitable, it is quite easy to keep it under control by making occasional deposits and withdrawals.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jul 5, 2022 18:09:04 GMT
Hello, I am looking for recommendations for new platforms to invest in. I am looking for something similar to unbolted (not the same business model or pawn loans) so loans that offer 6%+ interest and loans up to 6 months. I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some. Thank you If you find your ideal platform, please share..
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hantsowl
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Post by hantsowl on Jul 5, 2022 18:41:46 GMT
I agree with Ace about CP and K. I also like Proplend and CapitalRise. My other favoured platform at the moment is Relendex. They have much improved their customer support from a few years ago. The loans now look solid with regular updates and an active ‘no charge’ SM.
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corto
Member of DD Central
one-syllabistic
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Post by corto on Jul 5, 2022 22:09:16 GMT
As to where to invest I probably would agree with the previous posts.
As to whether to invest or not, or elsewhere, I am still juggling with various balls.
There may be a singularity coming, recession, inflation, etc., you read the news
Money in p2p is easily frozen in and when a company breaks, losses often well top 50%.
Stock market may be at a low and therefore a brilliant opportunity.
Stock market may fall another 50% according to some experts.
Various countries in the world have already inflation rates above 50-100%
Five balls, phew! I am not good at juggling
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benaj
Member of DD Central
N/A
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Post by benaj on Jul 6, 2022 18:20:26 GMT
New p2p investment? I get lots of emails from a number of platforms. I suppose the platforms will promote to get the loans funded.
Is it a good idea to find new platforms for diversification purposes? IMHO, unless you know the people who created platform well, adding new ones under current regulation and environment is usually a risk. Some does perform than expected if you choose your investment well.
If I had stayed with Z, I wouldn’t had make loss at least for joining late in the p2p lending game. Lending on RS and FC were fun at one point.
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bugs4me
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Post by bugs4me on Jul 6, 2022 21:21:46 GMT
Hello, I am looking for recommendations for new platforms to invest in. I am looking for something similar to unbolted (not the same business model or pawn loans) so loans that offer 6%+ interest and loans up to 6 months. I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some. Thank you I don't really think anyone can give you advice as it depends upon your personal circumstances, risk aversion, etc, etc.
But as a rule of thumb I would always check out the platform first especially the directors, financials, etc. You'll be surprised just how many other directorships individuals are involved in and if they're 'looking after' my hard earned cash I prefer they devoted as close to 100% of their time rather than it just being some sort of hobby. Always be mindful that if the platform ceases, for whatever reason, it's rare that the platform owners loose any funds. It's the lenders that loose out - often big time.
Read the T's & C's to make sure that the lender's interests are above those of the platform and keep an eye on those T's & C's as from experience, they are often subtly changed and the lender slowly moves down the priority list. Also check out those platform monthly monitoring fees if any. Often they act as an incentive for a platform to keep a loan live to keep on 'grabbing' those lucrative monitoring/administration fees etc when in reality the loan should have been declared a default with funds returned to the original lenders.
Sorry if I sound negative but like many, I've been bitten more than once. All platforms start with promising the earth, moon and stars and I'm sure initially their motives are sound. But as time goes on either they cannot make it work so start creaming off funds until it all goes t**s up or they just become greedy.
So do your homework first. Yes I know it takes time but always remember it's your money you are handing over.
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aju
Member of DD Central
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Post by aju on Jul 11, 2022 17:17:33 GMT
Hello, I am looking for recommendations for new platforms to invest in. I am looking for something similar to unbolted (not the same business model or pawn loans) so loans that offer 6%+ interest and loans up to 6 months. I am suffering to much cash drag on Unbolted so need more options if anyone can suggest some. Thank you I don't really think anyone can give you advice as it depends upon your personal circumstances, risk aversion, etc, etc.
But as a rule of thumb I would always check out the platform first especially the directors, financials, etc. You'll be surprised just how many other directorships individuals are involved in and if they're 'looking after' my hard earned cash I prefer they devoted as close to 100% of their time rather than it just being some sort of hobby. Always be mindful that if the platform ceases, for whatever reason, it's rare that the platform owners loose any funds. It's the lenders that loose out - often big time.
Read the T's & C's to make sure that the lender's interests are above those of the platform and keep an eye on those T's & C's as from experience, they are often subtly changed and the lender slowly moves down the priority list. Also check out those platform monthly monitoring fees if any. Often they act as an incentive for a platform to keep a loan live to keep on 'grabbing' those lucrative monitoring/administration fees etc when in reality the loan should have been declared a default with funds returned to the original lenders.
Sorry if I sound negative but like many, I've been bitten more than once. All platforms start with promising the earth, moon and stars and I'm sure initially their motives are sound. But as time goes on either they cannot make it work so start creaming off funds until it all goes t**s up or they just become greedy.
So do your homework first. Yes I know it takes time but always remember it's your money you are handing over.
I'd definitely agree with this paragraph (My highlight) , even the mighty Zopa had an annoying habit of changing things very quietly especially towards the end. That said we made a handsome sum from them over the years they existed so can't complain too much.
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Post by overthehill on Jul 18, 2022 18:39:13 GMT
Diversification has reached a critical level with the demise of ablrate and Assetzcapital's decadence, anyone got any ideas ? Is a euro bank account and europe the answer ?
Waiting for estateguru to actually do something in the UK but I guess that will require a euro account.
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Steerpike
Member of DD Central
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Post by Steerpike on Jul 18, 2022 18:55:08 GMT
I have withdrawn over 80% of the funds I had in Assetz, but today I made my first deposit after 3 years of steady withdrawals.
I am still steadily increasing holdings in SoMo, deal flow is very slow on LendInvest, and finding it difficult to get invested on Folk2Folk.
I now have a strong preference for platforms with a track record of profitability, so not sure where else to look.
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Post by overthehill on Jul 18, 2022 19:19:48 GMT
I have withdrawn over 80% of the funds I had in Assetz, but today I made my first deposit after 3 years of steady withdrawals.
I am still steadily increasing holdings in SoMo, deal flow is very slow on LendInvest, and finding it difficult to get invested on Folk2Folk.
I now have a strong preference for platforms with a track record of profitability, so not sure where else to look.
I will need to lend some in SoMo, I believe their record is good and it won't be long before 1st charges are at 7% again.
If it takes me more than 2 minutes to find the lending statistics for returns,losses,late loans, active recoveries I'm not interested, so not interested in LendInvest.
Folk2Folk 20k minimum per loan, not for me. wikipedia says no losses, rather impressive content compared to other p2p companies, someone is being diligent. Good idea actually but is the content is 100% accurate 100% of the time !
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ilmoro
Member of DD Central
'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 Jul 18, 2022 19:32:39 GMT
One question now is which platforms will be able to meet the costs of the enhanced regulatory regime coming in July ... must raise questions about the smaller or unprofitable platforms.
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Post by danraj on Jul 20, 2022 22:22:39 GMT
khampson - My platform: rebuildingsociety.com has been going for 10 years and has improved a lot in the last 5 years. Feel free to give us a try. If you are risk adverse, look at buying microloans with the BuyBack Guarantee.
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qlassa
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Post by qlassa on Jul 26, 2022 22:40:55 GMT
One question now is which platforms will be able to meet the costs of the enhanced regulatory regime coming in July ... must raise questions about the smaller or unprofitable platforms. hi can you please share link of what enhanced reg regime would be? keen to understand more. Thanks.
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