Peer-to-peer lending sites: MSE guide discussion

bxboards

buyhighselllow wrote: »

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

The fee only applies if you cash out.

Otherwise it pays a monthly income over 60 months, consisting of principle + interest.

masonic

keyboardworrier wrote: »

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!

I'd be tempted if I thought it was sustainable. Anything over 5.6% for a 1 month lockup beats what's on offer over at AC.

keyboardworrier

The one year market on Ratesetter seems to have crossed, 8.4% is available.


Edit: it is over now, 360K+ gone in about 20 minutes!

masonic

Looks like I missed out by a few minutes

AdrianC

There's a chance those high-rate deals won't go through fully.

Rollinghome

AdrianC wrote: »

There's a chance those high-rate deals won't go through fully.

That's very likely. Mine was supposedly matched at 8.4% an hour ago but is still sitting there "waiting for the loan to be formed". Still, as they made such a generous offer it would have been churlish not to have taken them up on it.

I'll let you know if it comes good.


Edit: Seems it has.

keyboardworrier

Rollinghome wrote: »

That's very likely. Mine was supposedly matched at 8.4% an hour ago but is still sitting there "waiting for the loan to be formed". Still, as they made such a generous offer it would have been churlish not to have taken them up on it.

I'll let you know if it comes good.

Sometimes it can take a while for things to process, I only just had an email letting me know about a matched order I did hours ago. I've just checked my 'on loan' page and it's showing an order of £1k for a 13 month loan term so it seems to have worked.

Over62

We have bad mobile reception here. I was waiting for five minutes for the OTP to come through to transfer funds to Ratesetter and take advantage of the 8%+ offer. By the time the funds were in RS, the rate had dropped and I ended up missing out. :mad:

bxboards

Over62 wrote: »

We have bad mobile reception here. I was waiting for five minutes for the OTP to come through to transfer funds to Ratesetter and take advantage of the 8%+ offer. By the time the funds were in RS, the rate had dropped and I ended up missing out. :mad:

I would'nt worry too much, I doubt it would have run for more than a month or two before it was repaid.

I grabbed 10% on Ratesetter 1 year about a year ago, and it repaid within 2 months.

Roland_Flagg

I need some advice please.

At the moment my P2P funds are in:
75% Zopa
15% Ratesetter
4% Funding Circle
4% Lending Works
1% Lendy
1% Kuflink

I get a 0.5% early adoptor bonus from Zopa but they have moved most of my money into Core now, which I gather isn't safeguarded, and as you can see I have too much of my P2P money in there anyway.
So looking to shift half out.
I'm happy with 4.5% for quick notice or 5.5% or more longer term.
The main thing for me is that my funds are as safe as P2P can be, so not interested in newly formed P2P offering silly interest rates
I'm thinking more in Lending Works.

Opinions?

P.S P2P is around 8% of my money, and yes I've done all the normal things of opening bank account intro offers etc, so just want to concentrate on moving Zopa money into another P2P.
Cheers.