Peer-to-peer lending sites: MSE guide discussion

Alexland

Just noticed, for a few days only, Kuflink are offering 3% cashback to existing customers on their Autoinvest and IFISA products if locking in at 5%+ on their 3 or 5 year rates.

keyboardworrier

A poster on the purple P2P forum has produced a very interesting post regarding the possible implications on various platforms regarding the FCA consolation document (https://www.fca.org.uk/publication/consultation/cp18-20.pdf)





https://p2pfrankdiscussion.freeforums.net/post/2911/thread

bxboards

Alexland wrote: »

Just noticed, for a few days only, Kuflink are offering 3% cashback to existing customers on their Autoinvest and IFISA products if locking in at 5%+ on their 3 or 5 year rates.

Shame its for 3 and 5 years, previously many of the 3% offers have included self-select and the 1 year auto-invest.

The 3 year deal seems like the best one, given 5 year is only 0.35% more.

granta

Alexland wrote: »

Just noticed, for a few days only, Kuflink are offering 3% cashback to existing customers on their Autoinvest and IFISA products if locking in at 5%+ on their 3 or 5 year rates.

I've just signed up through a friend referral link...do you think the 3% cashback would apply on top of that, or is it one or the other? It doesn't seem clear from the terms.

Alexland

granta wrote: »

I've just signed up through a friend referral link...do you think the 3% cashback would apply on top of that, or is it one or the other? It doesn't seem clear from the terms.

It says new and existing customers so there is a chance you could get both. However it says not to use in conjunction with any other offer so possibly not. Still the referral offer is so good the 3% would be a 'nice to have' icing on the cake.

Alex

Alexland

bxboards wrote: »

The 3 year deal seems like the best one, given 5 year is only 0.35% more.

Agree it"s like an extra 1% interest on the 3 year deal which makes it comparable to the 5 year deal with the same cashback spread over 2 more years. My current priority is ISA wrapping money and my IFISA for this tax year is with Ratesetter so I will probably give this a miss.

Alex

bxboards

Alexland wrote: »

Agree it"s like an extra 1% interest on the 3 year deal which makes it comparable to the 5 year deal with the same cashback spread over 2 more years. My current priority is ISA wrapping money and my IFISA for this tax year is with Ratesetter so I will probably give this a miss.

Alex

I'm not planning to put in any more this round, I would have if they were doing it on the 1 year auto mind you. My IFISA this year is with Assetz Capital, mainly as I really like the 5.1% rate on the 30 day access account (plus another 0.5% bonus currently)

granta

I am new to P2P lending and have recently opened an account with Ratesetter with the intention of investing in the rolling market.

I'm surprised at how low the rates are....over the last week, they have fluctuated between 2% and 3.5%. Is that the current average as I can't find any historical data? Just looking to hear from more experienced investors at what kind of rate you have been able to obtain?
The 1 year fixed is 4% so am wondering whether to go for that instead.
Any views gratefully received.

MoneyGeoff

granta wrote: »

I am new to P2P lending and have recently opened an account with Ratesetter with the intention of investing in the rolling market.

I'm surprised at how low the rates are....over the last week, they have fluctuated between 2% and 3.5%. Is that the current average as I can't find any historical data? Just looking to hear from more experienced investors at what kind of rate you have been able to obtain?
The 1 year fixed is 4% so am wondering whether to go for that instead.
Any views gratefully received.

You can get 5.9% on Ratesetter 5 year. If you want short term then you are better off with Assetz Capital 4.1% instant access or 5.1% 30 day access. Usual warnings apply.

keyboardworrier

granta wrote: »

I am new to P2P lending and have recently opened an account with Ratesetter with the intention of investing in the rolling market.

I'm surprised at how low the rates are....over the last week, they have fluctuated between 2% and 3.5%. Is that the current average as I can't find any historical data? Just looking to hear from more experienced investors at what kind of rate you have been able to obtain?
The 1 year fixed is 4% so am wondering whether to go for that instead.
Any views gratefully received.

Historical rates can be viewed here https://invest.ratesetter.com/aboutus/statistics