Peer-to-peer lending sites: MSE guide discussion

keyboardworrier

There's a great write up of how the AC provision fund works here, personally I am comfortable with knowing I might have to wait a while until the PF pays out capital.

https://www.4thway.co.uk/candid-opinion/assetz-capital-provision-fund-first-use/

jamesd

The really good buying times on the Ablrate secondary market continue and this will probably last until the end of the tax year. I'm seeing loans that typically sell for a 3-4% premium under 1% and sometimes none.

taylornj

jamesd wrote: »

The really good buying times on the Ablrate secondary market continue and this will probably last until the end of the tax year. I'm seeing loans that typically sell for a 3-4% premium under 1% and sometimes none.

I'm adding the new loan. Some had a little problem last night with errors, I just purchased the bid limit on first attempt. Waiting on limit to be removed this morning at 10am for seconds.

Already have a fair spread of the existing loans, and at my max for P2P, only purchasing as 100072 is coming to an end soon at the 9 month minimum term should be 10th April.

Fatbritabroad

So any others other than ratesetter its worth my looking at? I was also looking at assetz capital too

My criteria is

4k to invest
Must be ifisa
5% plus interest
'lower risk' than ablrate where the rest of my investment is
Insurance/reserve protection and autobid would be good
Happy to tie up money for 5 years but would be good to have option of early sell out

I suppose i could just wait for more portfolio loans on ablrate but liked the ides of diversifying platforms too now im investing a greater sum

buyhighselllow

Opened up an ISA with Funding circle, sold out my classic account and reinvested the money via their ISA. Its nearly all invested. If I put some more money in now, will it all count within an ISA wrapper 17-18 even if some does not get invested before the new tax year ie If you "fund it" before April 6th is that sufficient, regardless of how long it takes to be allocated to loan parts ?

takesyourchances

Fatbritabroad wrote: »

So any others other than ratesetter its worth my looking at? I was also looking at assetz capital too

My criteria is

4k to invest
Must be ifisa
5% plus interest
'lower risk' than ablrate where the rest of my investment is
Insurance/reserve protection and autobid would be good
Happy to tie up money for 5 years but would be good to have option of early sell out

I suppose i could just wait for more portfolio loans on ablrate but liked the ides of diversifying platforms too now im investing a greater sum

Pointing towards Lending Works to me, worth a look

Fatbritabroad

Thanks thats exactly what im looking for

firestone

buyhighselllow wrote: »

Opened up an ISA with Funding circle, sold out my classic account and reinvested the money via their ISA. Its nearly all invested. If I put some more money in now, will it all count within an ISA wrapper 17-18 even if some does not get invested before the new tax year ie If you "fund it" before April 6th is that sufficient, regardless of how long it takes to be allocated to loan parts ?

yes you can put funds in before April using your £20000 limit then pick loans after

takesyourchances

Fatbritabroad wrote: »

Thanks thats exactly what im looking for

I am using Lending Works now too, diverting some other P2P into them like reducing some of my Moneything payments into Lending Works as well.

I held back on the latest loan with Ablrate, I have other money with Foremans loans which add's up. Will put some Ablrate interest repayments into their new upcoming loan if all looks well. I spoke to Ablrate on the phone yesterday, was setting up first withdrawal (small test money) just so I have it in place more than anything and had a general chat with them too and they came across as very professional and very keen on feedback and asked me what I thought of thier IFISA and other things.

I have just withdrawn some interest re-payments from Moneything which I will be putting into Unbolted. I have around £550 in unbolted matched now and will earmark some more Moneything money over to Unbolted as and when I can get it out.

Thankfully several of the property development loans are due to pay back this year, so if they don't sell hopefully they will repay so I can further reduce development loans down. Getting there

Fatbritabroad

I only put a small amount in each loan so i think in total i foreman i have about 500 quid. Im pretty Cautious with p2p. Ive just added about 500 extra which is pending in the portfolio loan just to get it in before the tax year so i have a bit of spare cash in their for next year. Part of the reason to just open a second p2p isa in the new tax year is so im less tempted to put more money in lol. At 14% and with amortiisng loans theyll be enough to just keep reinvesting in abl Lending works looks lower risk but with a decent interest so thats perfect for another few thousand