Peer-to-peer lending sites: MSE guide discussion

pip895

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..

masonic

pip895 wrote: »

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..

Seems fine for me.

soulsaver

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?

firestone

soulsaver wrote: »

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?

Probably its on their stats page about lending volume etc but think historically that new year & middle of summer tend to be the quietest time.I would also guess a Times story about their provision fund has not helped.But they did refute and explain the fund worked different to the story so its a case of who do you believe for some maybe

gdreyer

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?

soulsaver

gdreyer wrote: »

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.

Barry_Bear

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?

gdreyer

soulsaver wrote: »

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.

Alexland

gdreyer wrote: »

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.

From memory Ratesetter pay referers quickly but those referred often have to wait a year before they get their bonus. If the company has failed you could lose your capital, interest and bonus. We had to chase RS a bit to pay our bonuses. P2P is looking less healthy these days so we are completely out now.

Rudyson

Alexland wrote: »

From memory Ratesetter pay referers quickly but those referred often have to wait a year before they get their bonus. If the company has failed you could lose your capital, interest and bonus. We had to chase RS a bit to pay our bonuses. P2P is looking less healthy these days so we are completely out now.

To be fair to Ratesetter, their T&Cs do state that you have to keep your money invested for a year to get the bonus, and that it will be paid within 30 days after the 12 months are up. I received mine about 10 days after the 12 months without having to ask.