JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Oct 26, 2015 16:44:53 GMT
I seem to be different from most people because when I have funds available I want to put them to work immediately, without waiting for new loans to appear or drawdowns to happen.
Therefore I decide where to send the money by checking availability. With the European sites I am investing with there are usually plenty of loans available, but it can be much harder with British platforms, at least the ones which allow non residents. I am not interested in buying secondhand loans at a premium.
Where would you suggest?
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bigfoot12
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Post by bigfoot12 on Oct 26, 2015 17:20:02 GMT
I have no idea about the overseas part of your request, but:-
Thin cats (which I have fallen out of love with, see posts in the Thin Cats section of this site) has lots on the secondary market, in part because some of their fixed term collective investment vehicles (they call them TLC) are at the end of their life and are liquidating. These are not at a premium, and as you get a whole month of interest you could argue they are at a discount.
Funding Circle have lots on the secondary market, some at a discount. If you allow for the period which a new loan earns no interest, even some of those apparently at a premium are really only at fair value.
Wellesley, and Ratesetter but the rates are lower.
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Post by reeknralf on Oct 26, 2015 17:37:20 GMT
I share OP's sentiments and country of residence, and so will be interested to see what is suggested. Wellesley may allow ex pats. There other 3 didn't last time I looked.
It had not previously occurred to me that the sites with loans available, are the sites which won't allow foreign residents. Is this just a coincidence? AC is the best I could suggest, but there's not much choice of available loans.
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registerme
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Post by registerme on Oct 26, 2015 17:42:22 GMT
ablrate has a lot on the SM at the moment, some at par, some a little higher. Lending Crowd also has SM availability (not sure if you can invest from outside the UK though).
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pikestaff
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Post by pikestaff on Oct 26, 2015 18:28:49 GMT
I share OP's sentiments and country of residence, and so will be interested to see what is suggested. Wellesley may allow ex pats. There other 3 didn't last time I looked... TC definitely allow ex pats. From their FAQ: "Can I be an active member from outside the UK?
Yes, so long as you are investing in sterling (£) and your funds are being transferred from a bank that has acceptable Anti Money Laundering Policies (that includes all EU banks)."
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Oct 26, 2015 19:10:36 GMT
Maybe I should have said that I don't like to have a large amount in one loan. I recently placed over 30,000€ in Euro platforms with no loan being more than 100€. I don't want to trust my own loan analysis but prefer to take lots of small investments.
Thincats was my first P2P experience but 1000 per loan was more than I was comfortable with. I had to save up the amount for my next loan from spare income and drawdown delays and a few early repayments meant that the return was lower than the headline amount. No bad loans for me there so far but I am withdrawing repayments.
Funding Circle is not available to me and Ablrate doesn't have the number of loans for good diversification, even if I wanted to pay premiums for SM offers.
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