Peer-to-peer lending sites: MSE guide discussion

Nardge

Hello all,


Would anyone know why the p2pindependent forum wouldn't grant me 'membership'. I applied to join over a week ago now, and still I can only visit as a guest without any possibility to become an active member. I've looked around for a 'Contact Us' or similar, but am unable to locate the same...


I look forward to any insight you might share with me please,
With Kind Regards

AdrianC

I suspect it's as simple as the admins haven't OKd your account yet - basic anti-spam measures. If nothing happens today, PM me, and I'll nudge 'em.

keyboardworrier

I invested with Octopus Choice for some time but pulled out in favour of Kuflink. OC offer 5% skin in the game and around 4%. Kuflink offered 6-7% with 20% skin. Kuflink have since changed their model to 5% skin and (I think) 15% provision fund.

Nardge

keyboardworrier wrote: »

I invested with Octopus Choice for some time but pulled out in favour of Kuflink. OC offer 5% skin in the game and around 4%. Kuflink offered 6-7% with 20% skin. Kuflink have since changed their model to 5% skin and (I think) 15% provision fund.

What is meant or understood by 'Skin' please?

AdrianC

Nardge wrote: »

What is meant or understood by 'Skin' please?

They have "skin in the game" means they have their own money in the investments.

So "5% skin" means that 5% of the money lent is their own. Ideally, that money will rank after other investors when it comes to repayment, so if there's a 5% shortfall on repayment, the investors get repaid everything, while the platform lose all their own money.

keyboardworrier

Nardge wrote: »

What is meant or understood by 'Skin' please?

It means that some platforms invest their own money into loans. Octopus Choice and Kuflink both do it on a 'first loss' basis which should lessen the chances of investors losing money. I like the model because they are putting their money where their mouth is, which means hopefully they are putting up better quality loans than some other platforms (But of course this is not guaranteed)

Nardge

AdrianC wrote: »

I suspect it's as simple as the admins haven't OKd your account yet - basic anti-spam measures. If nothing happens today, PM me, and I'll nudge 'em.

They added me on the 25th - Thanks

bxboards

The rates on Ratesetter's 5 year income is about as good as it's been for a year right now '6.1% at 12:45'

I've put in a few k to drip feed into 5% reg. savers over the next year.

buyhighselllow

bxboards wrote: »

The rates on Ratesetter's 5 year income is about as good as it's been for a year right now '6.1% at 12:45'

I've put in a few k to drip feed into 5% reg. savers over the next year.

I've had a slice. Isn't there a withdrawal fee of 1.5% though ??

keyboardworrier

The rates available on RS at the moment seem quite strange, Rolling matched at 6%+ yesterday and you can quite easily get around 5%. The one year market is barely moving at all and the 5 year income rate is quite high. I'm not quite sure what is going on!