Peer-to-peer lending sites: MSE guide discussion

takesyourchances

masonic wrote: »

While we're perhaps straying a little off topic for this thread, property ITs can be as volatile as other traded shares and I wouldn't put shorter term money in them. I hold three fairly large ones, but that's only because I like to buy what's on discount and avoid what's at a premium. The ones I hold have had peak to trough losses of 60-80% in the last house price crash (I didn't own any of them at that time!), so low risk they ain't.

Yes totally agree, I would use them to build up an income stream and hold long term and would not park any short term money in investments, but keep short term as cash.



Yes it is bordering on straying a little off topic, but hopefully the comparisons between Crowdfunding Property and REIT's can be made.



Also the point you made about REIT's during the last house crash, this would be a test for the Crowdfunding platforms too and likes of property partner has only been going 4 years and I see many others are going into the P2P developement route which is quite unloved and risky.

masonic

takesyourchances wrote: »

Also the point you made about REIT's during the last house crash, this would be a test for the Crowdfunding platforms too and likes of property partner has only been going 4 years and I see many others are going into the P2P developement route which is quite unloved and risky.

I see the biggest risks in P2P development finance. I'd much rather hold REITs, which might be battered in hard time, but will come out the other side.

takesyourchances

masonic wrote: »

I see the biggest risks in P2P development finance. I'd much rather hold REITs, which might be battered in hard time, but will come out the other side.

Yes same for me, just hold tight when hard times come with REIT's and let them come through it. The P2P property finance is way to headache filled.



I see the Liverpool loan is needing a bit more time to repay on MT, at least it is back to performing again as the interest was paid for this month and I have just withdrew it.

Durban

Has anyone here used Mintos?

What are your thoughts. I have been using them for about 6 months now and quite impressed although obviously risky.

Basically, I had been overpaying my mortgage but realised that I could get more than the mortgage interest rate using a mixture of regular savings accounts , investments and p2p. The aim of this is to still use all of this to pay off the mortgage early.

Fatbritabroad

Durban wrote: »

Has anyone here used Mintos?

What are your thoughts. I have been using them for about 6 months now and quite impressed although obviously risky.

Basically, I had been overpaying my mortgage but realised that I could get more than the mortgage interest rate using a mixture of regular savings accounts , investments and p2p. The aim of this is to still use all of this to pay off the mortgage early.

Ive seen this and seems well established now in terms of European sites. Always had positive reviews. I'm a bit wary investing outside of the UK in p2p in case of fraud. Others seems fine with it though there's a guy at obvious investor. Com who has a large amount spread across multiple sites including mintos. He's braver than I am I'm keeping p2p at around 20% of my non pension investment which feels about right to me for the risk level. Some of the sites eg lending works I'd love to put more in as they seem very easy for a reasonable interest but I just think how I'd feel if the site went down and it keeps me Cautious. 5 or 6k I'd be disappointed but shrug off., 35k I'd feel sick and would take about 4 years to save that back up. Rule number one for me is don't lose capital

Alexland

Fatbritabroad wrote: »

Rule number one for me is don't lose capital

Rule number two is don't forget rule number one!

Yup never go into an investment with a cavalier attitude that it's OK to lose.

Fatbritabroad

Yes part of me thinks I've done due dilligence on all the platforms I've used so why not put more in those. But then I think that 5k will grow over time and I'm not then risking 'my money' just the interest. Meanwhile all my monthly payments go into s and s isas or taxable
I want to put enough at risk that the returns worth it but not so much that losing any one would really hurt. Its a balancing act. I may increase it in the future once we've been through a recession and seen how they cope

fun4everyone

Interesting update from a poster "Mousey" on the p2p forum who went to the court hearing today involving Funding Secure and the dodgy art loan guy (multiple loans on FS totalling several million £ of investor money)

Hearing just finished.

FS never had art.

All art sold prior Aug 2017

No money left.

Could that be the end of FS?

keyboardworrier

fun4everyone wrote: »

Interesting update from a poster "Mousey" on the p2p forum who went to the court hearing today involving Funding Secure and the dodgy art loan guy (multiple loans on FS totalling several million £ of investor money)



Could that be the end of FS?

Funding Secure could be in a lot of bother due to that incident. Lendy are in rather hot water too. This could prove to be an interesting time for P2P - liquidity is often put forward as an issue and we could potentially see it drying up.

masonic

fun4everyone wrote: »

Interesting update from a poster "Mousey" on the p2p forum who went to the court hearing today involving Funding Secure and the dodgy art loan guy (multiple loans on FS totalling several million £ of investor money)

Could that be the end of FS?

If I had a pound for every time a P2P platform secured a loan on something that didn't exist / went walkies / wasn't what they thought it was...