justsaying
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Post by justsaying on Feb 25, 2015 12:48:04 GMT
Have just dipped my toe into this one now that they have lowered limit to £1000. Does anyone have any recent views or experiences to share before I stick a bit of the foot in too?
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smee
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Post by smee on Feb 25, 2015 14:41:05 GMT
I am quite positive about this platform. I have been invested here for several months, and now that their IT systems have been improved everything has gone smoothly with all interest and principals being paid back on time. This is the platform in which I have most confidence, and it now has the bulk of my p2p investments. It is producing new loans quite regularly, although interest rates have fallen recently. I have accepted this in return for what I regard as being stronger security than many platforms ( in my opinion ). Unfortunately there is no secondary market, but it does have a number of short term loans.
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Steerpike
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Post by Steerpike on Feb 25, 2015 15:11:24 GMT
Yes, it all seems to work.
I have about 10% of my P2P/P2B lending on this platform.
Rates are comparatively unexciting but security seems good.
Loans are 6-12 months so I am not bothered about the lack of a secondary market.
More "set it and forget it" than daily play time.
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shimself
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Post by shimself on Feb 25, 2015 15:20:57 GMT
Elsewhere here I've made a fuss about it not being true p2p, which is to say if something went wrong with the platform company (and they went bust) then it's not completely clear if the borrower owes us directly, as opposed to the bad alternative where a receiver might sting us with sharing the shortfall.
I know Lendinvest have made some changes which make it look better, maybe they will reply.
Part 1 of the reply will be of course that they are unlikely to go bust, which is fair enough, but it's certainly limiting my involvement.
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kermie
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Post by kermie on Mar 3, 2015 21:55:42 GMT
Thanks for that, samford71 - I took a small plunge into LendInvest last year - and have stuck with them, but kept withdrawing interest and have not increased my exposure since the rates dropped. I haven't done any analysis but my overall feeling is much the same - rates are not commensurate with the LTVs on offer, although I do get the impression that the loan quality is good. I shall take a look at the Montello fund - I expect to withdraw or reduce exposure in LI over the next year unless rates rebound. |
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justsaying
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Post by justsaying on Mar 4, 2015 9:11:52 GMT
Thanks all for your useful comments and taking the time to share. I too will take a look at the Montello fund  |
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shimself
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Post by shimself on Mar 4, 2015 17:09:39 GMT
Thanks all for your useful comments and taking the time to share. I too will take a look at the Montello fund 6pc pa paid quarterly. LONDON residential property (hmm), no loan above 75%ltv, average 50-60%. £25k minimum. sipp-able. www.montello.co.uk/main_fund.html
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