locutus
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Post by locutus on Jul 27, 2016 10:01:03 GMT
I'm mostly avoiding property currently, which is the main reason investing manually is slow at the moment. I'm already on Moneything, Collateral, Unbolted, Funding Secure and Assetz Capital. I've registered with Ablrate, but have some kind of ID verification issue currently. I put £1000 into Zopa+, before I understood the potential cost of getting the money out early. Maybe I should be bolder with property, am I being over-cautious? Property is still fine in my book. I think it is safer lending on secured assets than to businesses on FC or difficult to sell pawn items like art work. Don't risk more than you're happy with though.
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Liz
Member of DD Central
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Post by Liz on Jul 27, 2016 10:09:56 GMT
I'm mostly avoiding property currently, which is the main reason investing manually is slow at the moment. I'm already on Moneything, Collateral, Unbolted, Funding Secure and Assetz Capital. I've registered with Ablrate, but have some kind of ID verification issue currently. I put £1000 into Zopa+, before I understood the potential cost of getting the money out early. Maybe I should be bolder with property, am I being over-cautious? I like property because of the security, I have been stung on some business SME loans, where recovery rates have been dire. You could be picky with Savingstream loans, the ones with the best security and the smaller ones, where liquidity is good. Also look at Thincats, you can get property loans where you can pick the risk, higher risk @13%(second charge) or 10%(first charge), the 10% with a much lower LTV yet still good returns. In 18-24 months, start moving to cash/liquid loans. At the end of the day, the risk and return and type of p2p/current accounts you invest in/deposit in, needs to be your choice. I go high risk, but can afford to take a big haircut, or have funds tied up long term, as we are young and own(well, will in 6 years) our own property. Good luck in what you decide, keep us informed.
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Post by khampson on Jul 27, 2016 10:34:31 GMT
I have been looking into this, planning on long term investment but access to money if required, I currently have 11k in my Santander account getting 2.4% after tax, I withdrew the money out of various p2p platforms after brexit as I got cold feet.
I still have a little in AC, I dabbled in the GBBA and the manual, I am unable to sell a loan on AC as it has activity where trading is suspended, My worry with the GBBA was the amount of time it takes to get the money lent out, it was taking an age but on a plus side it was auto invested into the 3.75% instant access account which it ok, also money is covered by a fund should it default, if it does I am unsure how long AC would take to pay out as a recovery could take months/years.
Landbay is ok at getting 4% and money is usually in your bank between a couple of hours to a couple of days when you request a withdrawal but thats only if someone is waiting to take you loans on, so far I never had a problem selling out.
FC is ok but the rates have fallen somewhat and I do have some bad dept here, the secondary market is pretty active but it takes time as the best loans are snapped up within seconds. Sell out are quick and charged at 0.25%.
RS, also has a good track record but interest rates on the monthly rolling rate a not right good and are around 2.4% and 3.1% so not much better than my bank, it has a reinvest option so you can forget about it and is covered if you have missed payments or defaults
I am still undecided as to what peer to peer is best for me. Ratesetter, Assetz Capital and Landbay all have attractive easy platforms to use. Funding circle is time consuming, auto bid is ok but it can buy other peoples rubbish and loans that may be less attractive.
I am considering other platforms like you, I have money to invest but unsure when I will need it, I may look at bondmasson to, its harder and harder to get a balance between quick access and good interest rates. I will continue to watch this tread as I am interested to see the suggestions and advice.
Keith
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Liz
Member of DD Central
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Likes: 1,297
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Post by Liz on Jul 27, 2016 10:53:03 GMT
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Post by monkeymagic on Jul 27, 2016 10:56:15 GMT
We applied for that current account literally yesterday!  Makes Landbays 4% look more attractive in particular as the "safe" option. |
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Post by khampson on Jul 27, 2016 11:15:57 GMT
We applied for that current account literally yesterday! Makes Landbays 4% look more attractive in particular as the "safe" option. I must admit, Landbay was the fastest at giving me access to my money (from selling my loans to being in my bank), sometimes when I requested it, 2 hours later it was sat in my bank, Assetz capital could take up 3 days. My worry with landbay at the time was that they lend to buy to let mortgages and after brexit I was worried about the housing market, but it seems that the house prices are still rising after brexit which it encouraging, if santander lower the rate even more, I'm off. they have already put the account fee up in the last 12 months. Even halifax gave me a fiver a month regardless of my account balance.
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Post by Deleted on Jul 27, 2016 11:28:03 GMT
I have been looking into this, planning on long term investment but access to money if required, I currently have 11k in my Santander account getting 2.4% after tax, I withdrew the money out of various p2p platforms after brexit as I got cold feet. I still have a little in AC, I dabbled in the GBBA and the manual, I am unable to sell a loan on AC as it has activity where trading is suspended, My worry with the GBBA was the amount of time it takes to get the money lent out, it was taking an age but on a plus side it was auto invested into the 3.75% instant access account which it ok, also money is covered by a fund should it default, if it does I am unsure how long AC would take to pay out as a recovery could take months/years. Landbay is ok at getting 4% and money is usually in your bank between a couple of hours to a couple of days when you request a withdrawal but thats only if someone is waiting to take you loans on, so far I never had a problem selling out. FC is ok but the rates have fallen somewhat and I do have some bad dept here, the secondary market is pretty active but it takes time as the best loans are snapped up within seconds. Sell out are quick and charged at 0.25%. RS, also has a good track record but interest rates on the monthly rolling rate a not right good and are around 2.4% and 3.1% so not much better than my bank, it has a reinvest option so you can forget about it and is covered if you have missed payments or defaults I am still undecided as to what peer to peer is best for me. Ratesetter, Assetz Capital and Landbay all have attractive easy platforms to use. Funding circle is time consuming, auto bid is ok but it can buy other peoples rubbish and loans that may be less attractive. I am considering other platforms like you, I have money to invest but unsure when I will need it, I may look at bondmasson to, its harder and harder to get a balance between quick access and good interest rates. I will continue to watch this tread as I am interested to see the suggestions and advice. Keith Keith, I am presently gently leaving AC and FC as, for me, the first no longer has interesting new loans and has a track record of problems, while the second has lost its way totally. I suggest take the riskier path of FS, MT, SS and choose the least risky of their loans, spread your money in £100 chunks (less than 1%) which will take around 6 to 9 months to do, keep to the deals that ensure your sub 3 year time scale and you'll be as fine as the market is. It takes time to read the stuff and it takes time to invest the cash but the aim is an enhanced earning percentage and, you know, nothing is free. 
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Post by khampson on Jul 27, 2016 11:39:35 GMT
I have been looking into this, planning on long term investment but access to money if required, I currently have 11k in my Santander account getting 2.4% after tax, I withdrew the money out of various p2p platforms after brexit as I got cold feet. I still have a little in AC, I dabbled in the GBBA and the manual, I am unable to sell a loan on AC as it has activity where trading is suspended, My worry with the GBBA was the amount of time it takes to get the money lent out, it was taking an age but on a plus side it was auto invested into the 3.75% instant access account which it ok, also money is covered by a fund should it default, if it does I am unsure how long AC would take to pay out as a recovery could take months/years. Landbay is ok at getting 4% and money is usually in your bank between a couple of hours to a couple of days when you request a withdrawal but thats only if someone is waiting to take you loans on, so far I never had a problem selling out. FC is ok but the rates have fallen somewhat and I do have some bad dept here, the secondary market is pretty active but it takes time as the best loans are snapped up within seconds. Sell out are quick and charged at 0.25%. RS, also has a good track record but interest rates on the monthly rolling rate a not right good and are around 2.4% and 3.1% so not much better than my bank, it has a reinvest option so you can forget about it and is covered if you have missed payments or defaults I am still undecided as to what peer to peer is best for me. Ratesetter, Assetz Capital and Landbay all have attractive easy platforms to use. Funding circle is time consuming, auto bid is ok but it can buy other peoples rubbish and loans that may be less attractive. I am considering other platforms like you, I have money to invest but unsure when I will need it, I may look at bondmasson to, its harder and harder to get a balance between quick access and good interest rates. I will continue to watch this tread as I am interested to see the suggestions and advice. Keith Keith, I am presently gently leaving AC and FC as, for me, the first no longer has interesting new loans and has a track record of problems, while the second has lost its way totally. I suggest take the riskier path of FS, MT, SS and choose the least risky of their loans, spread your money in £100 chunks (less than 1%) which will take around 6 to 9 months to do, keep to the deals that ensure your sub 3 year time scale and you'll be as fine as the market is. It takes time to read the stuff and it takes time to invest the cash but the aim is an enhanced earning percentage and, you know, nothing is free. Cheers Bobo, my issue is, even though I have the money I am unsure when I will need it, I have no current plans for it, I may need it in 6 months, I may not need it in 10 years. I like the sound of MT, SS and FS but not sure what access I will have to my money should I need it, I also don't have much time to study each loan so its a case of low management and I also want to invest it as soon as I can, so lending in £100 may take an age unless there is an auto bid option? Keith
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Post by Deleted on Jul 27, 2016 11:53:24 GMT
Well Keith, you say you still have some money left in the old P2P so no need to re-invest that let it stay and play itself out or take it out when you have spent the rest of your cash.
MT specialises in 6 month loans and FS does much the same, if you invest it over 6 months then there will always be cash coming back which sort of resolves your "not sure when thinking", MT does not allow the price to change and there is no cost for trading. Similar with SS, though SS has longer time scales.
So I'd focus on MT say 50%, SS 30% based on the shorter term items and FS for the remaining 20%. You'll find that due to activity levels the FS gets invested the fastest.
If you really do want to invest fast, then you have to bite a bullet and go in big time with MT.
Invest over say the coming month in the best 4 deals going through at £2k a pop. Some of them may roll over and some will pay back in 6 months, then reinvest part and slowly break up the £2k into smaller and smaller chunks until you have £100 scattered into all kinds of time frames.
For SS, invest now in the secondary market spreading the money over the time remaining (dodging the obvious deals that look dodgy) up to the 30% level. You chould be able to do this at about £100 a pop right now, secondary market looks good.
Your time.... can't fix it. I am ultra cautious and reject about half of the deals. Just work out what you believe in. Do you believe art has value for instance? If not then don't invest. Do you believe that fast cars have value? Do you believe bling watches have value? Once you've decided that you can make investments. If something takes to long to understand or "make work" in your head, drop it. You need a rigorous set of rules in your head to make the time use efficient, so LTV >75% no good, then leave them alone, no need to read.
I'm time rich and even I only visit my P2P weekly for a total of 10 minutes= 520 minutes a year == say 10 hours. Why do more.
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Post by Deleted on Jul 27, 2016 15:04:08 GMT
Are you asking me to quote? If so: Outside of a dog a book is a man's best friend Inside of a dog it's too dark to read.  |
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Post by jackpease on Jul 27, 2016 15:25:12 GMT
I can't figure out how it's lasted so long - i've got his 'n hers accounts maxed out with Santander and it seems like a turkey shoot. With some banks thinking of charging for deposits, the recent falls in yield with RS/FC/Wellesley/Landbay etc etc presumably won't be the last and returns for newbies may look good (relatively) but for us old lags they are not good (absolutely). With diminishing returns, loans going pop and platforms going pop become relatively more important so i'd warn the OP against looking at young platforms that appear fantastic but have yet to bear the brunt of maturing loans going wrong as has happened at Assetz/FK/Rebs etc. You may be better looking at a mature platform with mediocre but tested record than a young platform with 'good' returns but untested. Jack P
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Post by propman on Jul 28, 2016 7:42:18 GMT
I'm mostly avoiding property currently, which is the main reason investing manually is slow at the moment. I'm already on Moneything, Collateral, Unbolted, Funding Secure and Assetz Capital. I've registered with Ablrate, but have some kind of ID verification issue currently. I put £1000 into Zopa+, before I understood the potential cost of getting the money out early. Maybe I should be bolder with property, am I being over-cautious? Property secured loans should perform well so long as the market is buoyant. However most rely on refinancing (or would in a downturn) so you are dependent on optimism remaining when the loan matures. So these might well give you a double issue if things go flat with losses and no liquidity just when you need it. That said, P2P Property loans have not been through a down cycle so the prudence of the lending is untested. This is definitely a case where a good track record to date on bad debts if of little value for current investments. That said, worth some investment unless you expect an imminent downturn, it is just that the sector as a whole is very over weight in property, so yo should be very selective or will end up with a property heavy portfolio.
- PM
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