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  • FIRST POST
    • Zoea
    • By Zoea 3rd Oct 17, 6:59 PM
    • 20Posts
    • 1Thanks
    Zoea
    UCGTRUST - p2p lending - possible 13% annually - any experience?
    • #1
    • 3rd Oct 17, 6:59 PM
    UCGTRUST - p2p lending - possible 13% annually - any experience? 3rd Oct 17 at 6:59 PM
    Hi

    These guys showed up in my twitter feed.

    They get something like 8.6/10 on trustpilot with 10 or more reviews (not a lot).

    They are offering 11.5% APR returns on investments of over £1000 for a 3 year fixed term. You can fix shorter but the interest is less. All the info is on the website and trust pilot I won't link it but I won't go over it all, it's easy to find, will take you 15 mins to fully understand.

    The money is guaranteed in case the debtor defaults, by the company.

    There is a referral scheme whereby if you use a referral code you get an additional 1.5% interest for the term, and the referee gets 1% of your initial deposit. So with 11.5% + 1.5% for being referred you could potentially AFAIK get 13% returns for 3 years.

    Any experience with this or similar? If you already have this, I'm planning to invest a little, anyone wanna PM me a referral code?

    Thanks. I know you guys don't like high interest get-rich-quick style schemes but this seems to be the real deal and it has (edit)[£^d] $133 million lent so far.

    Best wishes
    Zoea
    Last edited by Zoea; 03-10-2017 at 8:10 PM.
Page 2
    • adindas
    • By adindas 4th Oct 17, 3:53 PM
    • 3,345 Posts
    • 1,650 Thanks
    adindas
    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)
    Originally posted by Zoea
    Is it not true it is always be the case with investment product ??

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

    thanks
    Originally posted by Zoea
    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
    Last edited by adindas; 04-10-2017 at 3:56 PM.
    • justme111
    • By justme111 4th Oct 17, 7:31 PM
    • 2,878 Posts
    • 2,764 Thanks
    justme111


    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
    Originally posted by Zoea
    p2p platforms are not competitors for various reasons outlined earlier in a thread. there are no guarantees because those are genuine brokers clear about risk , not a dodgy company nobody heard about registered yesterday on a po box address with fake reviews.
    • Flobberchops
    • By Flobberchops 4th Oct 17, 8:44 PM
    • 596 Posts
    • 432 Thanks
    Flobberchops
    At least one poster in this thread is a shill.

    If this company which nobody else has ever heard of is advertising returns as *guaranteed*, that's reason in itself to steer clear. Any P2P platform worth their salt will stress that capital is at risk.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • Paul7
    • By Paul7 5th Oct 17, 2:09 PM
    • 2 Posts
    • 1 Thanks
    Paul7
    To be honest, I'm surprised that my feedback was deleted from this forum without any reason or notification, I just shared my opinion
    • Box28
    • By Box28 7th Dec 17, 3:37 PM
    • 1 Posts
    • 0 Thanks
    Box28
    This just came up on my Twitter feed yesterday. Looks too good to be true. I've seen P2P websites before and they usually detail notes about risk. This company claims your money is secured under 'AASA' but no links to what AASA even is. A google shows no association or company with that name dealing with finance.

    Their website domain name also has 'Privacy' so you can't see who it is registered to.

    Major red flags. My advice would be to stay far, far away.
    • dealer wins
    • By dealer wins 7th Dec 17, 5:53 PM
    • 5,597 Posts
    • 10,514 Thanks
    dealer wins
    Run a mile is my opinion.
    All replies are super fluffy and nice, and newbies are so lovely and welcome. PPR never again!
    • firestone
    • By firestone 7th Dec 17, 6:49 PM
    • 32 Posts
    • 7 Thanks
    firestone
    Scam or not - why with the likes of Ablrate,Lendy,Moneything etc based in the UK offering 10% or more having been around for a few years and with many reviews of the companies and the actual loans on here & the P2P independent forum would you want to look abroad?
    • Reaper
    • By Reaper 8th Dec 17, 12:03 AM
    • 6,155 Posts
    • 4,392 Thanks
    Reaper
    Their main location in the US turns out to be just a virtual office. Never a good sign in my opinion, particularly for firms offering a guarantee.
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