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Post by jjp2p on Aug 19, 2016 9:44:31 GMT
Hi guys
I am new to P2P and doing my research. There are quite a few out there to choose from but obviously the rates here are very tempting. From what I gather these are bridging loans and you have to look at each on t heir own merit before deciding to invest.
The LTV on the loans sometimes sound to good to be true and for me is an important factor when deciding which loan to invest in among other details. Is t here anything that I should be aware of that guys & girls more experienced than me should be aware of?
I have looked t through the site and seems really easy to use. I mean what makes this better than the others out there?
Really appreciate any feedback or advice.
Many thanks
JJ
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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
Posts: 11,329 
Likes: 11,549
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Post by ilmoro on Aug 19, 2016 9:57:58 GMT
Hi guys I am new to P2P and doing my research. There are quite a few out there to choose from but obviously the rates here are very tempting. From what I gather these are bridging loans and you have to look at each on t heir own merit before deciding to invest. The LTV on the loans sometimes sound to good to be true and for me is an important factor when deciding which loan to invest in among other details. Is t here anything that I should be aware of that guys & girls more experienced than me should be aware of? I have looked t through the site and seems really easy to use. I mean what makes this better than the others out there? Really appreciate any feedback or advice. Many thanks JJ Have a read here and the included links. Some of the LTV arent as good as they first appear. p2pindependentforum.com/post/47560/thread
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Post by dodgeydave on Aug 19, 2016 10:01:39 GMT
Hi guys I am new to P2P and doing my research. There are quite a few out there to choose from but obviously the rates here are very tempting. From what I gather these are bridging loans and you have to look at each on t heir own merit before deciding to invest. The LTV on the loans sometimes sound to good to be true and for me is an important factor when deciding which loan to invest in among other details. Is t here anything that I should be aware of that guys & girls more experienced than me should be aware of? I have looked t through the site and seems really easy to use. I mean what makes this better than the others out there? Really appreciate any feedback or advice. Many thanks JJ The length of the loan can also be taken with a pinch of salt. Hence all the loans with negatives numbers beside's them
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Post by geraldine1210 on Aug 19, 2016 10:05:18 GMT
Start with very small investments until you start working out wrinkles.
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Post by dualinvestor on Aug 19, 2016 10:06:18 GMT
Hi guys I am new to P2P and doing my research. There are quite a few out there to choose from but obviously the rates here are very tempting. From what I gather these are bridging loans and you have to look at each on t heir own merit before deciding to invest. The LTV on the loans sometimes sound to good to be true and for me is an important factor when deciding which loan to invest in among other details. Is t here anything that I should be aware of that guys & girls more experienced than me should be aware of? I have looked t through the site and seems really easy to use. I mean what makes this better than the others out there? Really appreciate any feedback or advice. Many thanks JJ Remember all that glistens is not gold, there is a reason for the advertsied returns of 12%, risk. It is generally accepted that the higher the return the greater the risk.
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Aug 19, 2016 10:27:42 GMT
Hi guys I am new to P2P and doing my research. There are quite a few out there to choose from but obviously the rates here are very tempting. From what I gather these are bridging loans and you have to look at each on t heir own merit before deciding to invest. The LTV on the loans sometimes sound to good to be true and for me is an important factor when deciding which loan to invest in among other details. Is t here anything that I should be aware of that guys & girls more experienced than me should be aware of? I have looked t through the site and seems really easy to use. I mean what makes this better than the others out there? Really appreciate any feedback or advice. Many thanks JJ The provision fund is attractive for me, which is an extra layer of security, that other 12% sites don't have. PBL 20 investors may be very thankful of the PF soon. Other features, liquid(may change) SM, fee free SM, ease of use, 12% return(before tax etc), good communication and good community of investors, undertaking Due dil. Don't be fooled, this is high risk, a property crash or platform failure may cause huge problems. Although, get 2-3 years of good returns behind you and you will have a good buffer, incase things turn ugly.
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Post by Deleted on Aug 19, 2016 10:38:44 GMT
First and most important thing and major plus of SS (and MT) platforms with respect to more known names (say Funding Circle or Zopa) is that anything you lend is secured against an asset.
So if you invest with FC, they take a borrower guarantee (their own word) they will repay. In case of problems, this is usually worth nothing, specially against strongly organised fraudsters (like a series of laywers which all went for piloted defaults on FC in the last 3 years... after the third consecutive default I stopped investing in laywers forever...).
If you invest with SS or MT, you have as a backup something solid and real with a charge (usually first charge) on it. Typically it is a house or a field.
This adds to the strenght of the proposition and is a major point to me.
Of course there might be problems:
borrower cheating, not too good past history of borrowers, valuation problems, market prices movements/crashes...
But in general I feel that even in case of loss except the exeptional unpredicatable cases, it is almost impossible to recover zero from a solid asset (while I have seen laywers walking off with zero repayment on huge FC loans, even if they had nice personal homes).
Start slowly to get familiar with the procedures and read all the documents/valutation/comments on loans you can find on this forum!
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Post by 2wolfbag2 on Aug 19, 2016 11:12:05 GMT
I started investing in P2P some six years ago and still have the nagging feeling that if it seems too good to be true then it probably is ! I try to take the view that if I lost the lot how bad would that actually be. If I cant afford to lose it then I probably shouldn't be investing it here !
That said returns of up to around 15% on the various platforms are certainly very tempting and more recently I have upped the ante having recently come into a redundancy "windfall" but my overriding belief is that I need to diversify - consequently I have attempted to spread risk amongst the platforms and continue to max my ISA in stocks and shares equity (which surprisingly - for me anyway - has had a fairly similar return over the past couple of years)
Checking on p2p platforms and related forums does become (for me anyway) fairly compulsive and consequently quite time consuming - I think I spend quite a disproportionate amount of time on SS even though the 12% return on all investments should (apparently) cause little reason to chop and change investments - the ease with which it is generally possible I think is the reason this is so.
I am currently on eight P2P platforms with vastly differing amounts of investment - best returns I have found to date - Moneything/ Funding Secure/ Emoney and Saving Stream - worst returns (but still respectable 5% plus) - Zopa/ Funding Circle / LendingWorks and Ratesetter (am I allowed to say that ?!) however that may be compensated for in the amount of time needed to monitor the investments - I would say in respect of three of the last four they are pretty much deposit the cash and forget about them (excluding FC) with the first four requiring (for me anyway) more regular tweaking
There's some pretty good advice around this forum in respect of both SS and for P2P investing in general - dip you toe in for what you don't mind losing and have some fun doing so
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Post by dodgeydave on Aug 19, 2016 11:20:29 GMT
I started investing in P2P some six years ago and still have the nagging feeling that if it seems too good to be true then it probably is ! I try to take the view that if I lost the lot how bad would that actually be. If I cant afford to lose it then I probably shouldn't be investing it here ! That said returns of up to around 15% on the various platforms are certainly very tempting and more recently I have upped the ante having recently come into a redundancy "windfall" but my overriding belief is that I need to diversify - consequently I have attempted to spread risk amongst the platforms and continue to max my ISA in stocks and shares equity (which surprisingly - for me anyway - has had a fairly similar return over the past couple of years) Checking on p2p platforms and related forums does become (for me anyway) fairly compulsive and consequently quite time consuming - I think I spend quite a disproportionate amount of time on SS even though the 12% return on all investments should (apparently) cause little reason to chop and change investments - the ease with which it is generally possible I think is the reason this is so. I am currently on eight P2P platforms with vastly differing amounts of investment - best returns I have found to date - Moneything/ Funding Secure/ Emoney and Saving Stream - worst returns (but still respectable 5% plus) - Zopa/ Funding Circle / LendingWorks and Ratesetter (am I allowed to say that ?!) however that may be compensated for in the amount of time needed to monitor the investments - I would say in respect of three of the last four they are pretty much deposit the cash and forget about them (excluding FC) with the first four requiring (for me anyway) more regular tweaking There's some pretty good advice around this forum in respect of both SS and for P2P investing in general - dip you toe in for what you don't mind losing and have some fun doing so The last part of your sentence sums it up correctly. I have losses on Funding Circle and Zopa. Personally i would recommend avoiding Rebuilding Society
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Post by jjp2p on Aug 22, 2016 15:10:33 GMT
Guys thank you so much this has all been super helpful.
I have invested so let's see how it goes!
Many thanks
JJ
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Aug 22, 2016 15:55:21 GMT
Guys thank you so much this has all been super helpful. I have invested so let's see how it goes! Many thanks JJ Invest in long dated loans, and take everything(valuations, updates etc), with a pinch of salt. Oh and don't expect your money back on the specified date, you could be locked into a loan much longer. Good luck and enjoy your 12%(12.7% monthly compounded).
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Post by martin44 on Aug 22, 2016 16:31:03 GMT
Follow the due diligence of each loan on this forum, it is very very good, and very helpful.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Aug 22, 2016 17:33:17 GMT
Follow the due diligence of each loan on this forum, it is very very good, and very helpful. Also bear in mind that many of the posters on here have been around the P2P market for longer than the forum has been in existence. Most of us have been singed a time or two as well as making a reasonable return in this market. Good luck and always keep one eye on your 6 O'clock.
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Aug 22, 2016 17:57:23 GMT
Follow the due diligence of each loan on this forum, it is very very good, and very helpful. Also bear in mind that many of the posters on here have been around the P2P market for longer than the forum has been in existence. Most of us have been singed a time or two as well as making a reasonable return in this market. Good luck and always keep one eye on your 6 O'clock. Most of us also have been stung, and lost a lot of money on " brilliant", dubious loans. Note: A term is only an aim. Note:A PG is worthless. Note: security can melt away, like an ice cream in the sun. Note: you can get conflicts of interest.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Aug 22, 2016 18:00:14 GMT
Representative of Orchard Lending Club  Have I missed something... Not so new to P2P jjp2p I'm guessing... |
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