james21
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Post by james21 on Dec 17, 2016 12:58:55 GMT
I am looking to open an account with another provider to diversify and spread risk, I have accounts with Lendinvest, The Housecrowd, Assetz, Octopus, Rate Setter, Funding Circle and Zopa
What does the board recommend please?
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Liz
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Post by Liz on Dec 17, 2016 13:12:22 GMT
I am looking to open an account with another provider to diversify and spread risk, I have accounts with Lendinvest, The Housecrowd, Assetz, Octopus, Rate Setter, Funding Circle and Zopa What does the board recommend please? Do you want to be hands-on or hands-off with the investing.
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star dust
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Post by star dust on Dec 17, 2016 13:23:29 GMT
I am looking to open an account with another provider to diversify and spread risk, I have accounts with Lendinvest, The Housecrowd, Assetz, Octopus, Rate Setter, Funding Circle and Zopa What does the board recommend please? If by the 'board' you mean the staff here, then they don't recommend anyone. Boards appear here mainly based on investor interest as determined by views and posts, but sometimes that might not be good news! You seem reasonably well diversified, but if you want another platform you could consider Saving Stream property bridging; MoneyThing - a variety of assets mainly property but also vehicle and HP type asset lending, and pawn jewlery (but that's really difficult to get hold of now); these two were recently voted the most popular by Forum members here . Collateral - mainly jewlery and vehicle asset backed loans, but soon to branch into property too; Abirate & Funding Secure with a variety of different asset class backed loans, and TC is another although as I don't lend there I know less about them. Have a look through the Boards and sub- boards on the forum there's a lot of information and different propositions, features and USP's will appeal to different types of investors.
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james21
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Post by james21 on Dec 17, 2016 13:38:04 GMT
Board, as in discussion board, not the moderators. I am hands on choosing my own investments, nearly all asset backed property and short term 12 to 18 months, tried auto invest only once recently with lendinvest and they put me into a 4.5% loan! wont do that again, told them what I thought of their rates. On the other hand to diversify I do have some funds in platforms like Zopa where my money is in the pot and they decide who borrows it in return for some safeguards against losses but with a low rate of return, octopus likewise tend to use more like a current account
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Liz
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Post by Liz on Dec 17, 2016 13:51:56 GMT
I would say look at FundingSecure, SavingStream and Thincats, Thincats is underrated, it has some very good property backed loans, but does have a £1k minimum bid. You can earn 12% on all these sites.
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Post by eascogo on Dec 17, 2016 21:54:43 GMT
I am looking to open an account with another provider to diversify and spread risk, I have accounts with Lendinvest, The Housecrowd, Assetz, Octopus, Rate Setter, Funding Circle and Zopa What does the board recommend please? Would recommend a peep at the blog run by Neil at p2pblog.co.uk/. He reviews in some depth a dozen or so P2P platforms and I am impressed by the quality of his reviews.
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elliotn
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Post by elliotn on Dec 19, 2016 10:31:01 GMT
Yes, I like his user based reviews, get a good idea of functionality, SM, loan availability etc to corroborate your main points of interest before starting.
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james21
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Post by james21 on Dec 19, 2016 16:48:54 GMT
Opened account with fundingsecure, looks good so far, like the feature where they email you to advise a new loan is to be released and the time for release. Neils review blog is excellent I hope he does some more reviews
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registerme
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Post by registerme on Dec 19, 2016 17:32:35 GMT
Opened account with fundingsecure, looks good so far, like the feature where they email you to advise a new loan is to be released and the time for release. Neils review blog is excellent I hope he does some more reviews I don't use Funding Secure, so what I say here is based solely on what I have read on this forum - be very careful that you understand all the tax implications (let alone regular loan considerations) before using the secondary market.
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Post by many38 on Dec 19, 2016 18:38:37 GMT
Re. the previous post, I only fund out too late that if you want to get out early the SM is not very liquid. I never managed to sell anything even with a -.5 discount. Also there are tax implications to trading on the SM.
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james21
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Post by james21 on Dec 21, 2016 17:28:05 GMT
not seeing any reason to buy in the secondary market as there are plenty of fresh loans to chose from, dont know how this will be in the future, and as the loans are all 6 month and I dont need the money out I wont be using the secondary market to sell anything either
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hendragon
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Post by hendragon on Dec 21, 2016 17:37:21 GMT
In theory FS loans are 6 months............. but defaults can take some sorting out. The oldest loan in my FS portfolio is some 500+ days old
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michaelc
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Say No To T.D.S.
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Post by michaelc on Dec 24, 2016 13:55:23 GMT
Is the secondary market illiquid because the primary market is relatively strong?
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archie
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Post by archie on Dec 24, 2016 13:57:52 GMT
Is the secondary market illiquid because the primary market is relatively strong? It's more the tax position as you are taxed on all the rolled up interest as well as anything you then earn.
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Post by extremis on Dec 25, 2016 21:31:34 GMT
Is the secondary market illiquid because the primary market is relatively strong? It's more the tax position as you are taxed on all the rolled up interest as well as anything you then earn. Does this apply to UK investors only, or to EU based investors as well?
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