Peer-to-peer lending sites: MSE guide discussion

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Comments

  • MarkFromCornwall
    MarkFromCornwall Posts: 885 Forumite
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    elephantrosie wrote: »
    is ratesetter still doing the 100 quids bonus?

    Yes: £50 for the person being referred and £50 for the person doing the referring (subject to terms and conditions).
  • masonic
    masonic Posts: 23,270 Forumite
    Photogenic Name Dropper First Post First Anniversary
    MarkFromCornwall wrote: »
    Yes: £50 for the person being referred and £50 for the person doing the referring (subject to terms and conditions).
    That's disappointing. A £100 bonus for the person taking on the investment risk was worthwhile, because it boosted returns up to double digit levels. A £50 boost increases the 1 year rate by 5%, which is borderline for unsecured loans that now come with increased risk after the change to the PF.

    Great deal for those doing the referring, though. It seems quite unbalanced. I could technically refer people, but it wouldn't sit right with me to do so now, when better options for them exist even taking the bonus into account.
  • JBond007
    JBond007 Posts: 28 Forumite
    Sellins wrote: »
    Does anyone know anything /have any experience of Archover

    I just searched mse for them and found you. Have you (or anyone else) used them?
  • masonic
    masonic Posts: 23,270 Forumite
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    JBond007 wrote: »
    I just searched mse for them and found you. Have you (or anyone else) used them?
    You'd be better off looking in the P2P Independent forum: http://p2pindependentforum.com/board/69/archover

    Personally, they've not come up on my radar at all.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    MarkFromCornwall wrote: »
    Yes: £50 for the person being referred and £50 for the person doing the referring (subject to terms and conditions).

    has the 100 quids bonus always work this way?
    Another night of thankfulness.
  • isasmurf
    isasmurf Posts: 1,999 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    elephantrosie wrote: »
    is ratesetter still doing the 100 quids bonus?

    The £100 bonus for this year closed on 5 April 2017
    https://www.ratesetter.com/welcome-bonus
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    BeatTheSystem wrote: »
    They have been buying back their own shares which helps support the NAV

    http://www.p2pgi.com/announcements

    I suspect that people with more insight (access to what is really going on) have concluded that the returns in the future are less than expected, perhaps costs and/or defaults are going up.

    I had a significant sum in P2P/P2B with various platforms but have reduced it to a much lower value. I achieved around 7% blended after a few defaults but the returns were slowly falling and I didn't see the benefit for the hassle.

    Also for a higher rate tax payer 40/45% goes to the tax man and by its nature there is no capital gains, so I concluded that I night as well add to my investment positions and enjoy capital gains which are taxed at 28%. I take the view that long term returns are around 7% for equities.

    The P2P investment trust interests me as it has the potential for being less hassle, more liquid, with a good income with capital growth potential.

    I invested a small sum to see how it goes.

    what do you mean by 28% tax?
    Another night of thankfulness.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    isasmurf wrote: »
    The £100 bonus for this year closed on 5 April 2017
    https://www.ratesetter.com/welcome-bonus

    thanks for the updated and more accurate information. so new investor do not get 50 quids at all for joining ratesetter?
    Another night of thankfulness.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    justme111 wrote: »
    Sent £3000 to funding circle , switched on autobid. Wish me luck . Did not go for a ablrate as there were only a couple of loan options available there (apart from secondary market but as I do not understand it well I did not want to use that option). Did not go for zopa or ratesetter as was not interested in safeguard fund options and did not see autobid option on those. Comments welcome.

    i can understand why you prefer autobid.
    but may i ask why do you not see safeguard fund as an advantage to your money invested?
    Another night of thankfulness.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    anyone with experience using MoneyThing?
    Another night of thankfulness.
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