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Post by khampson on Jun 2, 2016 11:08:11 GMT
Hi I am now thinking of lending my pot around 2k at the minute in to an easy manageable p2p, I am looking long term so what Peer to peer platform can I use to lend long term with a decent rate that I can just log into now and again to check it and I will accept a higher interest for greater risk if required, I plan to add around £200 each month to this,
Thanks Keith
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archie
Posts: 1,866 
Likes: 1,861
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Post by archie on Jun 2, 2016 11:38:24 GMT
I'd recommend LI, minimum bid size is £100, you'll earn around 7%. Most loans run for a year so low maintenance. Where a loan is longer they split the loan up into yearly amounts. There haven't been any losses yet. If there were any, Tranche A investors take priority over Tranche B (B pays a higher percentage rate to lenders). Interest accrues from the moment you invest as all loans are pre-funded. Company is profitable. Downside, there isn't a second market so anything you buy you need to keep to term or when the borrower repays. If you'd like more hands on investing then MT has higher rates (around 12%) and a second market. I have investments on both sites.  |
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Post by khampson on Jun 2, 2016 12:00:15 GMT
Hi Archie, I am new to moneything, do they have a provisional fund and any bad debt todate? also do they have auto bid or do I need to bid on auctions? Also can I buy into the secondary market and is it easy to sell a loan should I not like the look of it, sorry for the questions but I am new to this so I am just finding my way around this peer to peer investment.
thank you Keith
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ben
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Post by ben on Jun 2, 2016 12:15:27 GMT
MT has no provision fund and do not think they have had any bad debts to date. Although they are not that old yet so time will tell. You can not auto invest but bidding is pretty easy and the secondary market is fairly active.
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Jun 2, 2016 12:18:50 GMT
Assetz Capital is the ultimate for "easy management". Open an account (ideally via a cashback "new customer" deal). Load the MLIA with your cash (which, in normal circumstances, will get swept into the QAA to start earning 3.75% immediately). Set some modest investment targets across a wide range of performing loans (ignoring anything below 9%, which are better accessed via the GBBA). Log off and log back in a week or so later to see how much of your cash has already been invested via the shrapnelator.
I picked a good moment a few weeks ago to open an account for my wife (to use her new tax-free interest allowance). £5k deposited via the Lovemoney offer (now finished) will yield 3% CB in 12 months and 100% of the cash was invested across around 70 loans within 2 weeks. If you do the same now it will take longer (feast mode has ended for now, famine mode resumed) but you'll get there gradually over a couple of months. Much the easiest way to get 10-11% gross (and hopefully >8% net of eventual bad debts) on a modest stake without expending any real time at all.
I also recommend MoneyThing, Saving Stream, Funding Secure and Ablrate once you've got your head around evaluating loans, but these all require some ongoing management. Personally I wouldn't waste time with Foetid Compost until you've exhausted other options (the easiest way to invest with FC, unless you enjoy the process of beating their average, is simply to buy units in the FC SME Income Fund investment trust and then hold them indefinitely)
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archie
Posts: 1,866
Likes: 1,861
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Post by archie on Jun 2, 2016 12:20:29 GMT
Hi Archie, I am new to moneything, do they have a provisional fund and any bad debt todate? also do they have auto bid or do I need to bid on auctions? Also can I buy into the secondary market and is it easy to sell a loan should I not like the look of it, sorry for the questions but I am new to this so I am just finding my way around this peer to peer investment. thank you Keith I haven't been with MT long either but very impressed so far. There's no provision fund, not sure about any bad debts. You need to bid, most loans go live at 4pm, there are two today. Very easy to sell. Second market is unusual, parts for sale are listed with the live loans, they don't stay there for long though. All P2P carries risk.
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Post by khampson on Jun 2, 2016 12:57:55 GMT
Assetz Capital is the ultimate for "easy management". Open an account (ideally via a cashback "new customer" deal). Load the MLIA with your cash (which, in normal circumstances, will get swept into the QAA to start earning 3.75% immediately). Set some modest investment targets across a wide range of performing loans (ignoring anything below 9%, which are better accessed via the GBBA). Log off and log back in a week or so later to see how much of your cash has already been invested via the shrapnelator. I picked a good moment a few weeks ago to open an account for my wife (to use her new tax-free interest allowance). £5k deposited via the Lovemoney offer (now finished) will yield 3% CB in 12 months and 100% of the cash was invested across around 70 loans within 2 weeks. If you do the same now it will take longer (feast mode has ended for now, famine mode resumed) but you'll get there gradually over a couple of months. Much the easiest way to get 10-11% gross (and hopefully >8% net of eventual bad debts) on a modest stake without expending any real time at all. I also recommend MoneyThing, Saving Stream, Funding Secure and Ablrate once you've got your head around evaluating loans, but these all require some ongoing management. Personally I wouldn't waste time with Foetid Compost until you've exhausted other options (the easiest way to invest with FC, unless you enjoy the process of beating their average, is simply to buy units in the FC SME Income Fund investment trust and then hold them indefinitely) Hi SteveT, I am registered on Assetz capital but I cant see an option to get anything above 7% (Green and Blue) fund, I did like the set up but I had 1k sat waiting to be lent out in various funds but only lent £122 in 2 weeks so decided to look for another platform, but no where can I see 10 to 11% on AC. cheers
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Post by Harland Kearney on Jun 2, 2016 12:58:39 GMT
If you want minimal management Assetz Capital 30DAA is fit for purpose. However its rates are much lower than MT or other P2P sites, it pays 4.25 Percent currently a year. (pays on the 1st working day of each month)
It comes with a provision fund also, but as you stated above if you want higher returns (12 percent) ect it generally will require some management at some point. I do not recommend Funding Circles Autobid for such small amounts.
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Post by stevefindlay on Jun 2, 2016 13:11:23 GMT
FULL DISCLOSURE: I WORK AT BONDMASON khampson You may like to take a look at BondMason - this is exactly what our service was designed for - easy access to P2P returns, with minimal fuss. We invest across P2P platforms that we've diligenced and approved, and select the best loans we can find from these platforms. We enable clients to target a 7.0% net return (net of losses, and our 1% p.a. fee - i.e. 8% gross). We have delivered 9.6% p.a. gross over the last year, 8.6% p.a. net. There is a new discussion on this forum with respect to BondMason and our service; and you may like to see our Trustpilot page. Please ask me, or any member of the team any questions you may have: invest@bondmason.com / 020 3126 6705. Many thanks, Steve |
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Jun 2, 2016 14:11:29 GMT
Assetz Capital is the ultimate for "easy management". Open an account (ideally via a cashback "new customer" deal). Load the MLIA with your cash (which, in normal circumstances, will get swept into the QAA to start earning 3.75% immediately). Set some modest investment targets across a wide range of performing loans (ignoring anything below 9%, which are better accessed via the GBBA). Log off and log back in a week or so later to see how much of your cash has already been invested via the shrapnelator. I picked a good moment a few weeks ago to open an account for my wife (to use her new tax-free interest allowance). £5k deposited via the Lovemoney offer (now finished) will yield 3% CB in 12 months and 100% of the cash was invested across around 70 loans within 2 weeks. If you do the same now it will take longer (feast mode has ended for now, famine mode resumed) but you'll get there gradually over a couple of months. Much the easiest way to get 10-11% gross (and hopefully >8% net of eventual bad debts) on a modest stake without expending any real time at all. I also recommend MoneyThing, Saving Stream, Funding Secure and Ablrate once you've got your head around evaluating loans, but these all require some ongoing management. Personally I wouldn't waste time with Foetid Compost until you've exhausted other options (the easiest way to invest with FC, unless you enjoy the process of beating their average, is simply to buy units in the FC SME Income Fund investment trust and then hold them indefinitely) Hi SteveT, I am registered on Assetz capital but I cant see an option to get anything above 7% (Green and Blue) fund, I did like the set up but I had 1k sat waiting to be lent out in various funds but only lent £122 in 2 weeks so decided to look for another platform, but no where can I see 10 to 11% on AC. cheers Move your cash into the MLIA and then set individual Buy targets on as many of the individual loans as you like (Browse Loans - Live Loans)
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Post by GSV3MIaC on Jun 2, 2016 15:30:21 GMT
But be aware that it might take a (long) while for the buy order to actually get filled!
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james
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Post by james on Jun 2, 2016 15:40:22 GMT
Hi I am now thinking of lending my pot around 2k at the minute in to an easy manageable p2p, I am looking long term so what Peer to peer platform can I use to lend long term with a decent rate that I can just log into now and again to check it and I will accept a higher interest for greater risk if required, I plan to add around £200 each month to this, I rather like the MoneyThing grouped asset loans (formerly called managed portfolio). Make the investment when a new one comes up then tick the box to reinvest and it'll be automatically renewed for you every six months unless the borrower cancels the renewal. So all you end up having to do is assess the initial loan and wait for a suitable new one to come up for your new money. These loans all have security on physical assets, typically cars or cars and HP agreements at the moment. So if the borrower defaults those would be the source of repayment. These borrowers typically finance of HP cars and their customers sometimes default but the terms of the grouped asset loans require them to replace such defaulted loans with new ones to keep up the asset value. So the security only ends up mattering if the borrower fails, not if their borrower does. Try to use two different platforms at your amount invested. This is because the bigger risk of P2P is platform failure or fraud, not the loans themselves, so it's good to diversify across platforms.
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Jun 2, 2016 16:28:48 GMT
The easiest platform I know is Twino where you could add 2k, set autoinvest for 1 month at 12% with default buyback or also longer loans at 13% also with buyback, with say 10 per loan. Then activate and you would immediately have 200 loans and all repayments would be reinvested automatically, so no dead time. They do extend loans as long as the interest is paid.
You would just need to decide what platform risk there may be.
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