Liz
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Post by Liz on Apr 20, 2017 14:57:59 GMT
1 good profitable platform and liquid cash.
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IFISAcava
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Post by IFISAcava on Apr 20, 2017 15:37:43 GMT
Actually, I miscounted (I was counting the AC auto and manual accounts separately). It is 27 platforms, and 2 (FS and LW) are double counted as ISA and non-ISA, so 25 platforms. Asterisks are the 9 main ones with (or soon to have pending ISA transfer) >5% of p2p portfolio weighting. So one could see it as 9 established + 16 gradually growing and/or toe dipping. Some of the "first to market" ISA platforms may not make it once other options come live, depending on how they perform.
Non-ISA:
Funding Circle *
Growth Street *
Ratesetter *
Bridgecrowd *
Landbay classic
Funding Secure
Wellesly
Assetz capital *
Unbolted
Savings Stream/Lendy
Moneything
Mintos
ABLrate
Lending Works Classic
Octopus Choice
Collateral
Archover
Bond Mason *
ISA:
Crowdstacker ISA
Lending Crowd ISA
Landlord Invest ISA
Lending Works ISA
Crowd2fund ISA
Property Crowd ISA *
Abundance ISA
HNW ISA *
Funding Secure ISA *
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fasty
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Post by fasty on Apr 20, 2017 15:46:06 GMT
27 seems like too much admin for me to manage. I'm not even sure that I knew there were 27 
A bit of spread seems reasonable to diversify across a few different sectors. I'm actively using 5.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 20, 2017 16:08:54 GMT
Looking after 29 platforms pretty much makes it a part-time job? If you have that much money, you should really diversify outside the P2P, unless you already have substantial amounts in Stocks & Shares etc. In terms of P2P, I can probably agree with around 6.... - I would say that would definitely make it a 24/7/12/365 Job  (I only invest in Asset Backed and I'm currently on 5 Actively, plus ditching three and considering ditching another.)
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Post by peerlessperil on Apr 20, 2017 16:12:40 GMT
In my case 10 platforms in total so far.
This is an immature sector that is barely profitable for many of the providers. Platform failure is the elephant in the room and there is little you can do about it other than diversify. The hippo in the room is property development, which is like musical chairs (fun till the music stops).
About 60% of my P2P is in manually selected individual loans that require due diligence, 15% where the platform handles allocation and the remaining 25% in the more socialised structures that offer greater liquidity in good times (e.g. Ratesetter rolling, Assetz 30 day/QAA). The intention is to increase allocation to manually selected loans, and to diversify away from property as much as is practically possible.
50% of the 60% in manually selected loans (i.e. most) is in only 5 platforms: Funding Secure (FS) , Assetz Capital(AC) , Lendy (LfSS), MoneyThing (MT) and Collateral UK. At the individual loan level I have exposure to c.750 borrowers.
I am fully aware that liquidity is a mirage that won't be there when we really need it, so all money in P2P is money I can afford to leave locked up till maturity/recovery of the underlying. Anyone using Ratesetter or AC's QAA/30 day as a savings account for the proverbial rainy day is in for a good soaking - playing the maturity transformation game outside of the banking regulatory framework is going to end in tears.
To provide context P2P accounts for 12% of my net assets excluding all pensions and Peril Palace. Including pensions but ex the house it reduces to 7.5%.
I suspect that puts me at the cautious end of the spectrum....
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bigfoot12
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Post by bigfoot12 on Apr 20, 2017 17:14:37 GMT
I'm in 12 platforms, but that is because I've been doing this for more than 10 years. Most of those are being run down. I am only reinvesting in 4 of those including 2 which are in receipt of new money. Some only contain my defaults.
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ben
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Post by ben on Apr 20, 2017 17:39:57 GMT
I was under the impression you were only able to open on ISA for p2p lending per year, did I mis read that part?
Also I am in about 18 sites as welif you include sites like PM amd PP.
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Post by Deleted on Apr 20, 2017 17:40:00 GMT
That cuts a lot of Portals out and even challenges two of my dead-in-the-water portals, the trouble is I only found out about their weakness after already investing with them, so I understand your need to get "wet". In that particular case one has recognised their weakness and re-shaped the business (and so make it unattractive if more survivable (and making my present holdings much safer) while the other will just slowly release my cash. I could try to do some guessing, but would be interested which portals you favour and which 2 you are still in but consider reformed / weak. Also your reasoning leads to the thought that platforms dependent on one sector could go under when their sector gets hit, though we can't guess how serious or not the platform collapse would be for lenders, depending on the wind-down arrangements. Of course it would probably take away the ability to sell out in a secondary market, whether or not the platform survived. I'm not especially worried by that, after all the portal is just that, the loans are not the portal. But a failed or failing portal will be a mess that someone has to clear up and they will want their penny-worth.
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IFISAcava
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Post by IFISAcava on Apr 20, 2017 17:59:04 GMT
I was under the impression you were only able to open on ISA for p2p lending per year, did I mis read that part? You can only subscribe to one (i.e. put new money into) in any given tax year - no limit to how many you can transfer previous years' money (cash or S&S) into.
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IFISAcava
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Post by IFISAcava on Apr 20, 2017 18:01:24 GMT
Also I am in about 18 sites as welif you include sites like PM amd PP. I wasn't including PP, PM, Brick Lane or Brickowner... gets me back to where I started at 29 I guess!
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IFISAcava
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Post by IFISAcava on Apr 20, 2017 18:05:28 GMT
I was under the impression you were only able to open on ISA for p2p lending per year, did I mis read that part? You can only subscribe to one (i.e. put new money into) in any given tax year - no limit to how many you can transfer previous years' money (cash or S&S) into. At least that is how I and most IFISA providers interpret it, and how it is for cash and S&S ISAs. FS may be taking a different view, but since they accept new money and old ISA transfers, not sure how it actually affects opening an ISA with them.
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fp
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Post by fp on Apr 20, 2017 18:37:10 GMT
I'm using 6, plus one which is being run down... and that is more than enough to look after.
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bigfoot12
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Post by bigfoot12 on Apr 20, 2017 18:42:04 GMT
... though we can't guess how serious or not the platform collapse would be for lenders, depending on the wind-down arrangements. I'm not especially worried by that, after all the portal is just that, the loans are not the portal. But a failed or failing portal will be a mess that someone has to clear up and they will want their penny-worth. This is the thing that worries me the most! It depends why a platform collapses. In many cases there might be less money than expected, before the costs are deducted. It isn't hard to imagine scenarios which give less than 50% of money back, especially the smaller ones which might have similar costs but spread across fewer accounts. How about a technology failure in which they don't know who owns what? I don't think that this is likely, but a small chance of a total or 50% loss becomes significant.
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elliotn
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Post by elliotn on Apr 21, 2017 0:42:25 GMT
Also I am in about 18 sites as welif you include sites like PM amd PP. I wasn't including PP, PM, Brick Lane or Brickowner... gets me back to where I started at 29 I guess! Dropping Wellesley would make it a more mangeable 28 (forumites have reported decent sell out rates even with the company's failed capital raise and auditors' report mentioning a need for capital).
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IFISAcava
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Post by IFISAcava on Apr 21, 2017 1:14:34 GMT
I suppose i am doing my own "all share tracker" as i don't think i can stock pick.
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