Peer-to-peer lending sites: MSE guide discussion

colalba

s71hj wrote: »

Has anyone any experience of lending through Emoneyunion lending works or funding secure. Thanks

This site http://p2pindependentforum.com/ has sections for both platforms you mention with active users. You might get some info by looking there or asking the question there.

angrysharks

Does anyone know a promotional code for the £50 cashback for new investors listed in the Funding Circle latest offers?
https://www.fundingcircle.com/offers

I have asked them and they wouldn't give one. Can anyone here help? Thanks.

N1AK

angrysharks wrote: »

Does anyone know a promotional code for the £50 cashback for new investors listed in the Funding Circle latest offers?

I don't and I couldn't work out how to get one. Another option might be to try and find someone who will 'recommend' you. You, and they, will both get £40 cashback if you lend £1,000 or more before the cut off date.

PippiShortsock

angrysharks

Happy to "recommend" you if you PM me your name and email address.

Pippi

angrysharks

PippiShortsock wrote: »

angrysharks

Happy to "recommend" you if you PM me your name and email address.

Pippi

Thanks, Pippi, but I've received a few offers already. People here are great. Thanks!

stphnstevey

Hi, I have my own limited company and want to invest the business surplus cash in a P2P - it looks like Funding Circle T&C's allow this

Anyone know if this is possible?

TheTracker

stphnstevey wrote: »

Hi, I have my own limited company and want to invest the business surplus cash in a P2P - it looks like Funding Circle T&C's allow this

Anyone know if this is possible?

I think you'd have to be careful of the Consumer Credit Act and licensing and get a professional view on that aspect. Also consider the liquidity in the secondary market should you ever need to sell up.

I've discussed with my company's accountant sometime ago and he advised against any sort of investing let alone p2p. I suppose it depends on the nature of your company and whether being seen as an investment vehicle is a risk. As a result the retained profits languish in a 1.8% account. So I must ask him about it again, and will be interested in other responses, particularly as I lend to businesses not consumers. But I wouldn't advise making a decision without account advice.

I give this advice as someone with a 5 figure amount in p2p earning 9%pa for the last 18 months, but all leant personally.

stphnstevey

TheTracker wrote: »

I think you'd have to be careful of the Consumer Credit Act and licensing and get a professional view on that aspect. Also consider the liquidity in the secondary market should you ever need to sell up.

I've discussed with my company's accountant sometime ago and he advised against any sort of investing let alone p2p. I suppose it depends on the nature of your company and whether being seen as an investment vehicle is a risk. As a result the retained profits languish in a 1.8% account. So I must ask him about it again, and will be interested in other responses, particularly as I lend to businesses not consumers. But I wouldn't advise making a decision without account advice.

I give this advice as someone with a 5 figure amount in p2p earning 9%pa for the last 18 months, but all leant personally.

My accountant said ok to invest in P2P, but cautioned on only a small investment.

What account do you have at 1.8%, I can only get 1%?

50Twuncle

Why doesn't MSE start it's own money lending service ...
Martin must have put away a few bob ?
We could all safely invest then !!

transparent_opacity

I was introduced to P2P saving through Martin's articles on the site back when Zopa started, and I thought it was worth coming back to mention www.lovefruitful.com. There's a 6% rate instant access, so no tie-in or penalty for withdrawal. I got the invite to sign up today and it looks easy to use.

I came across the company at the Data Visualisation Summit last month, and they're planning to give savers the feature to set savings targets - car, holiday, rainy day, etc. - to which you can allocate your savings. I like that feature, I was always jealous of those who get to use a similar feature on Mint.com (which is US-only).

Cheers,
Chris