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Post by walkindude on Feb 28, 2015 17:11:55 GMT
Hi everyone,
I'm pretty new to this, have invested some money in SS which for some reason stood out a bit as the place to put some money. However i'd like to diversify a bit now and try someone else, been looking at FS and seems pretty good but was wondering if anyone had any useful comments/comparisons on the two companies?
Thanks!
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Post by davee39 on Feb 28, 2015 17:36:46 GMT
Hi everyone, I'm pretty new to this, have invested some money in SS which for some reason stood out a bit as the place to put some money. However i'd like to diversify a bit now and try someone else, been looking at FS and seems pretty good but was wondering if anyone had any useful comments/comparisons on the two companies? Thanks! Since you asked I am a risk averse investing coward. My SS investment amounts to two toenails and some fluff. Despite my initial doubts both sites are still about, have been remarkably responsive to comments from lenders, and as far as I can tell SS investors have earned a good return with no losses. FS losses have been relatively modest (read their Forum threads). You have a good chance of getting a loan part on SS, and of selling on to eager investors. On FS the limited deal flow and high demand means that you may struggle to actually get any parts of any loans. Both investments are high risk. I pulled out of FS since I was unable to make small diversified investments across sufficient loans.
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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 Feb 28, 2015 18:14:05 GMT
Biggest difference between the two is the lack of a secondary market on FS so once youve commited to a loan your in it until it ends whereas with SS you can sell out fairly quickly due to the active SM. No provision fund. Interest not paid until loan draws down though this is generally within days of full funding
Suitability of FS may also depend on what sort of lender you are. While there is reasonable deal flow, most loans have limits on the amount you can loan in first 24hrs, which can be as little as £25, and most rarely last that long before being snapped up. Very hands on to achieve any form of diversification. The bigger property loans are becoming more regular but still a much lower chance to diversify large sums. The property loans are also a relatively new development so there is no indication of how a default would be managed (same could be said for SS) & a few concerns have been raised about valuations on loans that have defaulted which have seen lenders incur modest losses.
Im in both (& multiple others), but only lent on FS since start of year so yet to experience any defaults/issues. At least 1 default on SS which was resolved hassle free but that was boaty not property which remains an unknown quantity.
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Post by walkindude on Mar 1, 2015 9:58:16 GMT
thanks guys, useful info. I have to say i'm pretty impressed by SS so far, I do wonder if i'm being a little naive though, nobody appears to have lost much money and yet the interest rate seems too good to be true etc..
hey ho, time will tell i guess!
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Post by elljay on Mar 1, 2015 12:27:54 GMT
Well they've only been around for just over two years, so they've got a way to go to build up a track record. easteregg has a very useful page on his site that gives the Launch Date of P2x companies. |
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