Peer-to-peer lending sites: MSE guide discussion

jayjayuno

fun4everyone wrote: »

Fatbritabroad and others you might consider this new offer from growth street which is very good imo. Not going to link it here but £2000 invested for a year gets a £200 bonus. No referral required (but referrals do generate an extra £200 bonus for the person doing the referring).

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Growth Street was rejected by my bank for transferring money into as a fraudulent site because the money transfer went into "PrePay Technologies Limited" rather than a bank account. Just thought i'd pass this on.

quirkydeptless

P2P Noob report.


The remainder of my Ratesetter 5 year £1000 @ 5.1% loan, which I set up last April to get the £100 bonus and a taste of how P2P worked got repaid early Yesterday, and is now on the rolling market @ 3.4%.


I'm actually quite happy with that, and I will leave it there and review what to when the bonus arrives - hold or fold :cool:

bxboards

jayjayuno wrote: »

Growth Street was rejected by my bank for transferring money into as a fraudulent site because the money transfer went into "PrePay Technologies Limited" rather than a bank account. Just thought i'd pass this on.

I've had my first payment to Growth Street blocked by my bank initially. I also had a problem with Wisealpha too with the opening payment flagged.

Both sites are off course legitimate, and its the banks being (over) cautious.

firestone

bxboards wrote: »

I've had my first payment to Growth Street blocked by my bank initially. I also had a problem with Wisealpha too with the opening payment flagged.

Both sites are off course legitimate, and its the banks being (over) cautious.

Bit ironic with your WiseAlpha being flagged as by looking at their home page they won a British banking award last year (although not sure who picks the award)

bxboards

firestone wrote: »

Bit ironic with your WiseAlpha being flagged as by looking at their home page they won a British banking award last year (although not sure who picks the award)

To be fair, when I joined Wisealpha I think they had very few members and just launched and where offering a 1 year bond paying 8% - too be quite honest, usually with that sort of figure you'd think it was a scam, and I wasn't 100% certain myself at the time.

firestone

bxboards wrote: »

To be fair, when I joined Wisealpha I think they had very few members and just launched and where offering a 1 year bond paying 8% - too be quite honest, usually with that sort of figure you'd think it was a scam, and I wasn't 100% certain myself at the time.

Guess there not really P2P but as a new platform (and notes not the actual bonds) how have you found the idea and them working out?

takesyourchances

I have just sent my complaint against the FCA regarding Collateral following on from the others on the P2P forum.



It is nearly 1 year from the ripples started.


Collateral wrote to customers on February 4 saying: “We are aware that some of the loans are too big for the platform currently and we are actively working with the borrowers to refinance some of these larger loans. It’s apparent that the larger development loans are beyond the reach of our lender base at the moment.”



Little did we know what would happen following this! :eek:


I meant to get this off following members on the P2P forum doing it so I have it done, can do no more

masonic

takesyourchances wrote: »

Little did we know what would happen following this! :eek:

Even the likes of London Capital & Finance sought the FCA's permission before appointing administrators today.

takesyourchances

masonic wrote: »

Even the likes of London Capital & Finance sought the FCA's permission before appointing administrators today.

I saw the topic, but I did not know anything about it tbh. Quick glance I see they were high risk bonds, I will read up on it a bit more, sounds bad as well.

masonic

takesyourchances wrote: »

I saw the topic, but I did not know anything about it tbh. Quick glance I see they were high risk bonds, I will read up on it a bit more, sounds bad as well.

Put it this way, I wouldn't trade places with anyone in LCF.