UCGTRUST - p2p lending - possible 13% annually - any experience?

msallen · 4 October 2017 at 7:49AM

There would be no guarantee from the FCA even if they were incorporated in the UK.

There are no guarantees AT ALL from the FCA with p2p. I'm not telling you that to stop you investing (I use a number of p2p platforms) but to indicate that you should know what you're doing before diving head first in there - especially on the back of a handful of anonymous reviews on an unreliable (at best) review site and a guarantee thats not worth the pixels on your screen.

Malthusian · 4 October 2017 at 9:30AM

The fact that they claim that any defaults will be covered by an unnamed third party - "In case a loan is placed into default, UCG TRUST will cover it with other assets – eliminating all the risk to investors" (my emphasis) means it exits the category of Lendy, MoneyThing etc and becomes a get-rich-quick scheme.

If it looks too good to be true then it is.

Having great reviews when the company is barely a year old just means they are really quick and efficient at taking your money off you.

There is no indication of who owns or runs the business and I was tickled by the fact that the business is registered to a PO Box in "Stoney Ground Road" in St Vincent & Grenadines.

Mark_ch_4 wrote:

Behold, there went out a sower to sow... And some fell on stony ground, where it had not much earth; and immediately it sprang up, because it had no depth of earth: But when the sun was up, it was scorched; and because it had no root, it withered away.

badger09 · 4 October 2017 at 12:29PM

Bargepole anyone?

stoozie1 · 4 October 2017 at 2:38PM

Above post reported

Malthusian · 4 October 2017 at 2:46PM

And like clockwork the obligatory one-post shill arrives to tell us how great this get-rich-quick scheme is. Armed with all the standard playbook clich!s:

- interest is paid on time (it's not difficult to take £10,000 off someone and give them £1,200 back, the question is what happens when they want their £10,000)
- ignorance of basic investing concepts (it's not a "deposit account")
- FOMO
- insistence that you're not allowed to comment unless you have direct experience of investing in the get-rich-quick scheme, i.e. experience of the market, understanding of basic economics and logic mean nothing

And ever higher rises this thread up the Google rankings.

Zoea · 4 October 2017 at 2:48PM

Paul7, thank you for your comment. I can see why it might be suspicious to some as it's your first post, but you explained that. I'm looking for a balanced conversation here - I do need to invest my money somewhere!

Anyone else with experience is very welcome to post. I've taken a look at p2pindependentforum.com and there are a lot of competitors, but interest rates are only higher on high risk investments (loans) and I am only skimming it but a guarantee seems to be rare.

thanks

Paul7 · 4 October 2017 at 3:12PM

I'm not an expert on financial market and do not need to become him to be able to start investing. Everyone has his own experience and opinion and does not need to convince each other. We all share our experience here, and I described my experience above. Any investment has always been and will be at risk, and there are no players in the financial market who can with an accuracy of 100% assert that there are no risks, and if p2p platforms in particular as Lendy can be considered reliable then forward.

Joe_Bloggs · 4 October 2017 at 3:15PM

Paul7 Said:-

I heard first time about this platform 1.5 years ago from my friend who lives in New-York and who invested through UCGTrust but didn't decide to invest because of superfluous at that time suspicion, but alas, I was wrong. The world has always been divided into optimists and skeptics and who likes some and some others, but let's be pragmatically, no one can give you a guarantee today, and most p2p platforms are clearly warn about it on the websites, but for me for today, except for UCGTrust, no one dared to write at all about any guarantees. Than to entrust my money to the number of borrowers that I have never seen and will not see, I prefer trust my money to this company.

The above is space filling nonsense. I bet some artificial intelligence bots could do a better job.
J_B.

soulsaver · 4 October 2017 at 3:30PM

Zoea wrote: »

Paul7, thank you for your comment. I can see why it might be suspicious to some as it's your first post, but you explained that. I'm looking for a balanced conversation here - I do need to invest my money somewhere!

...it but a guarantee seems to be rare.

thanks

Because they tell you there is no guarantee... which is honest.

Read the comments, hear the alarm bells...:eek:

adindas · 4 October 2017 at 3:53PM

Zoea wrote: »

Anyone else with experience is very welcome to post. I've taken a look at p2pindependentforum.com and there are a lot of competitors, but interest rates are only higher on high risk investments (loans)

Is it not true it is always be the case with investment product ??

Zoea wrote: »

and I am only skimming it but a guarantee seems to be rare.

thanks

You have been told in the previous post, FSCS guarantee from the government does not exist with p2p lending. If such thing exist who bother to run a business if you could could get guarantee return earning 13% per annum. A person who does not use his/her common sense is vulnerable to fraudsters.

Pull back, stop thinking about p2p before you invest time learning it. You might loose all of your hard earning cash

UCGTRUST - p2p lending - possible 13% annually - any experience?

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