Peer-to-peer lending sites: MSE guide discussion

economic

Ratesetter website is down for "maintenance". Could we see a repeat of another Collateral???

TheShape

economic wrote: »

Ratesetter website is down for "maintenance". Could we see a repeat of another Collateral???

It probably is down for maintenance given it's the early hours of the morning. The problem now is that every time a site goes down for maintenance someone will be concerned. Of course, lots of sites go down for maintenance at times.

fun4everyone

TheShape wrote: »

Of course, lots of sites go down for maintenance at times.

They do and Collateral's notice of "server upgrades" did buy them over 24 hours before people started to get truly worried. The removal of all contact details from the holding page, emails going unanswered plus their phone going straight to voicemail also led people to realise something was up.

Fatbritabroad

All fine now

penelopea

economic wrote: »

Ratesetter website is down for "maintenance". Could we see a repeat of another Collateral???

They dont work at the weekend on Ratesetter. Nothing moves till Monday .The problem with Collateral was technicalites with the FCA according to contact from their administrators . We may see them return ,but the administrto will take a fee ,no doubt slicing off our interest /capital. Ratesetter has adifferent set up and as the FCA has approved their ISA ,its probably OK .

thenewcomer

ratesetter is more stable than col, so i have no worries.

takesyourchances

On the P2P forum seems a bit of movement with Collateral behind the scenes with some getting deposit notice emails. Hopefully we get some information soon and the homepage has changed from the "server" notice.

This has been my most quiet week with P2P in a long while I just re-invested my interest payments in Ablrate and a small deposit with Unbolted, nothing more.

I see MT has another property loan due, no interest in these and no major movement on the defaults yet. It'll take time to reduce the property down on MT.

I have added to cash to bring my level up more and added to S&S.

Hopefully some more news develops with Collateral with the work going on in the background.

ag120

There is a loan on MT that it would seem we are banned from talking about online and certainly in the p2p forum. Does anyone know why? I'm not a big fan of censorship.

smjxm09

Something to hide is never a good starting point when they want your money.

takesyourchances

It's certainly not for me that loan and censorship does not add confidence in a development loan that's open to all sorts of construction problems. I'm more interested in seeing a recovery take place on a MT development loan than more appear.