P2P: MoneyThing

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Comments

  • elephantrosie
    elephantrosie Posts: 467 Forumite
    i am a novice investor and moneything is my first investment. I like the ease of usage, customer feedback and track records. I am looking for similar p2p platforms.

    please recommend.
    Another night of thankfulness.
  • nushnush
    nushnush Posts: 81 Forumite
    elephantrosie wrote: »
    i am a novice investor and moneything is my first investment. I like the ease of usage, customer feedback and track records. I am looking for similar p2p platforms.

    please recommend.


    ablrate, collateral, unbolted are all worth a look, all platforms are a little different to each other though.
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
    First Post Combo Breaker First Anniversary
    elephantrosie wrote: »
    I am looking for similar p2p platforms.

    I second Ablrate as a good second choice. The rates and security are similar but you'll find Ablrate has a more readily available secondary market - my one and only criticism of MoneyThing is that you'll often be in the situation of having funds sitting around with nothing to spend it on.
    : )
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    i have no issue with MT. i managed to get many loans off the secondary market and two new loans last week.

    i have just set up a ratesetter account and going to invest 500 quids in it because although the rate is lower, i want to see how it is like.

    tried to set up ablrate account and the phillips from the company is really rude. i wonder how their customer service is like?
    Another night of thankfulness.
  • nushnush
    nushnush Posts: 81 Forumite
    elephantrosie wrote: »
    i have no issue with MT. i managed to get many loans off the secondary market and two new loans last week.

    i have just set up a ratesetter account and going to invest 500 quids in it because although the rate is lower, i want to see how it is like.

    tried to set up ablrate account and the phillips from the company is really rude. i wonder how their customer service is like?


    i use ratesetter but without the startup bonus i wouldnt.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    nushnush wrote: »
    i use ratesetter but without the startup bonus i wouldnt.

    I used them for a year and then shut the account in receipt of the bonus.

    To get back to the thread name over on the p2p independent forum the Moneything representative was sounding out demand for a very much larger potential loan. Feedback was there was a lot of pent up demand given low deal flow and the fact that some of the other platforms are looking a bit dodgy and an overall chasing of returns me at they should be able to fill it, we'll wait and see.
  • jamesd
    jamesd Posts: 26,103 Forumite
    Name Dropper First Post First Anniversary
    MoneyThing have said that after initially deciding not to introduce an ISA soon they will be reconsidering that decision next week on the basis of feedback from existing lenders. No actual decision yet, though.
  • chucknorris
    chucknorris Posts: 10,786 Forumite
    Name Dropper First Post First Anniversary
    jamesd wrote: »
    MoneyThing have said that after initially deciding not to introduce an ISA soon they will be reconsidering that decision next week on the basis of feedback from existing lenders. No actual decision yet, though.

    I'm very interested in Moneything, but we are currently on the lookout to buy a new home (for cash) and we will be temporarily keeping our existing home for a few months (while we repair/refurbish it. So money is probably going to be quite tight until we at least find our new home (it might not extend to our full budget). But I'm very likely to get involved with P2P (for a small percentage of my portfolio) quite soon.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • jamesd
    jamesd Posts: 26,103 Forumite
    Name Dropper First Post First Anniversary
    The ISA has been raised in priority but isn't imminent.

    Meanwhile with a new loan at 12% for £1.625 million to go live later today there's much more opportunity than usual to buy loans on the secondary market. I took the opportunity to swap most of my 11% money for 12% and 13% while adding in some loans I wasn't part of originally.

    There are a couple of loans described as due to repay imminently. The student accommodation one is currently live on Collateral and will be repaid once it fills there, the restaurant and hotel is being bought so will be repaid once that deal completes. Either could fall through but might be useful if you want to put in some money that will probably be repaid in a few weeks at most.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    jamesd- i thought MT does not do 13% interest rate loan?
    Another night of thankfulness.
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