Peer-to-peer lending sites: MSE guide discussion
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Has anyone got experience of these?
Funding Circle
Assetz Capital
Rate Setter
I have read that Funding Circle had to change its process for withdrawals late last year after lenders were facing long delays to withdraw money but that this has now started to improve. I haven't read anything that isn't positive about the Assetz Capital and RateSetter. Are these the most sound of the P2P market?
I took my money out of FC years ago when rates fell, then they went "black box" - but without any PF.
Assetz has been good, but there's not been much in the way of worthwhile new loans for ages.
RS has been good, lower rates and black-box, but with PF. Their rates have dipped in recent times, though, and I haven't bothered figuring out their recent changes.
RS is the only one of the three I still have accessible money in, and that's coming out as it repays.0 -
Thinking of investing? Don't! Uown sister company (Broadley) just went down owing £15 million to the supply chain. Very risky. Yes they say capital is at risk, trust me they mean it.
Google Broadley group and see what comes up!0 -
Anyone having issues with the Ablrate platform? I get continuously logged out .. Trying to work out if its something about my PC that it doesn't like..0
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I've been watching Ratesetter several times p.d. for a couple of weeks
A few weeks ago the lending pipeline was cumulatively c£4million - showing exactly the same figure for each of the products.
Last couple of days I've seen it as low as £0.8mill
Tonight it's £1.3mill.
ATM lending orders count totals 26745.
That's an average lend order of under £50...?
There are 5 (five) borrower offers for a cumulative total £22k.
Any comments/observations?0 -
I've been watching Ratesetter several times p.d. for a couple of weeks
A few weeks ago the lending pipeline was cumulatively c£4million - showing exactly the same figure for each of the products.
Last couple of days I've seen it as low as £0.8mill
Tonight it's £1.3mill.
ATM lending orders count totals 26745.
That's an average lend order of under £50...?
There are 5 (five) borrower offers for a cumulative total £22k.
Any comments/observations?0 -
Hi all, a bit late to the P2P party perhaps however a colleague of mine recently sent me a ref link to ratesetter, with a £100 bonus on a £1k deposit. Seems like a good initiative. I have seen a few comments on here about people pulling money out of RS whereas I'd be looking to put money in. Are there any issues I should be aware of?0
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Hi all, a bit late to the P2P party perhaps however a colleague of mine recently sent me a ref link to ratesetter, with a £100 bonus on a £1k deposit. Seems like a good initiative. I have seen a few comments on here about people pulling money out of RS whereas I'd be looking to put money in. Are there any issues I should be aware of?
Whilst RS may be perceived less risky than some other P2Ps, you should be aware that, as with the other P2P platforms, you could lose all of your investment?
In addition you aren't guaranteed to earn the bonus either.0 -
Funding Circle is now better than it was last year in my experience.
Late last year withdrawing money was a big problem - it was taking up to 4 months and if lenders did not sell all the loans they listed they went to the back of the queue again after 120 days. But they have changed the process and now they continuously cycle through all lenders loans selling parts of the loans. So if you are selling large amounts you may not sell everything at once, but you get a steady stream of repayment. I withdrew £2,000 last month and got it all back in just over 3 weeks.
Anyone else using Funding Circle?0 -
Whilst RS may be perceived less risky than some other P2Ps, you should be aware that, as with the other P2P platforms, you could lose all of your investment?
In addition you aren't guaranteed to earn the bonus either.
Why is the bonus not guaranteed? If the T&Cs are met then surely this would be paid out? I have seen a few comments about this too and a support request might be needed to be raised to ensure payment.0
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