Peer-to-peer lending sites: MSE guide discussion

Aceace

royroberts322 said:

I have a rate setter account instant release at 1.5%. I requested release of some money not all in June this year. I am still waiting and am 16000 in the queue. got to be some serious off course matters going on in ratesetter. 

The "serious off course matters" are that a large number of investors have come to the conclusion that the returns from RS investments are no longer worth the risk and have therefore requested the return of their funds. 

The bad news is that at queue position 16000 you're in for a very long wait. The good news is that, assuming you've set your reinvestment rates as high as possible, you will have received a steady drip of repayments over the 4 months that you've been in the queue, which should continue.

In order for your release to be satisfied there has to be a willing buyer to take on your loans. Today's provision fund update from RS makes it extremely unlikely that they will be anywhere near to hitting their expected target of returning the Interest Coverage Ratio to 100% by the end of the year. So, they will need to extend their rate cuts to lenders for longer, or make even more drastic cuts. This will likely result in even fewer lenders willing to reinvest. 

Aceace

DireEmblem said:

I wonder if any p2p houses will share any statistics - this year is a really good stress test for the product.

The better ones do. Here's a good example: https://www.crowdproperty.com/statistics

cfw1994

Aceace said:

DireEmblem said:

I wonder if any p2p houses will share any statistics - this year is a really good stress test for the product.

The better ones do. Here's a good example: https://www.crowdproperty.com/statistics

https://www.kuflink.com/ have always shown the stats down their front page too. 

AFAIK (most recent review I can easily see here) they haven’t lost any investor money to date.  They take the first 5% “hit” on investments, which is a little reassuring.
All that said, we only have a teeny tiny amount of play cash invested!

Aceace

cfw1994 said:

Aceace said:

DireEmblem said:

I wonder if any p2p houses will share any statistics - this year is a really good stress test for the product.

The better ones do. Here's a good example: https://www.crowdproperty.com/statistics

https://www.kuflink.com/ have always shown the stats down their front page too. 

AFAIK (most recent review I can easily see here) they haven’t lost any investor money to date.  They take the first 5% “hit” on investments, which is a little reassuring.
All that said, we only have a teeny tiny amount of play cash invested!

Yes, I invest with Kuflink too. Their full stats page is https://www.kuflink.com/statistics/. 

In many ways they're similar to CrowdProperty and they have the advantage of a Secondary Market, but on most other measures they come up a bit short for me.

• They do lend on second charge deals whereas CP insist on first charge only. 
• Some of their LTVs are a little steep for me. Their stats page says 18% of their loans are over 80% LTV.
• Some of their loans are released as multi-tiers. Higher tiers are much more risky as they're effectively structured as higher charges. The higher rates offered for the higher tiers are far too low to compensate for the extra risk involved.
• You can't self-select loans in their ISA. 
• Their auto-invest product, including their ISA, do invest in the higher tier and higher LTV loans. There must be a temptation for them to dump higher risk loans that self-selectors won't touch in these products. 
• Their rates are a bit lower, though this is somewhat mitigated by having lower cash drag (most of their deals pay from the day you pledge to lend).

Although I do invest with them for diversification, I'm very fussy about which loans I invest in. Their 5% skin-in-the-game is a welcome feature, though much reduced from their original 20% stake when they first started. All in all I've found them professional and reliable and am happy to put some funds their way, but for the above reasons they don't make it on to my personal favourites list. 

cfw1994

Aceace said:

cfw1994 said:

Aceace said:

DireEmblem said:

I wonder if any p2p houses will share any statistics - this year is a really good stress test for the product.

The better ones do. Here's a good example: https://www.crowdproperty.com/statistics

https://www.kuflink.com/ have always shown the stats down their front page too. 

AFAIK (most recent review I can easily see here) they haven’t lost any investor money to date.  They take the first 5% “hit” on investments, which is a little reassuring.
All that said, we only have a teeny tiny amount of play cash invested!

Yes, I invest with Kuflink too. Their full stats page is https://www.kuflink.com/statistics/. 
In many ways they're similar to CrowdProperty and they have the advantage of a Secondary Market, but on most other measures they come up a bit short for me.

• They do lend on second charge deals whereas CP insist on first charge only. 
• Some of their LTVs are a little steep for me. Their stats page says 18% of their loans are over 80% LTV.
• Some of their loans are released as multi-tiers. Higher tiers are much more risky as they're effectively structured as higher charges. The higher rates offered for the higher tiers are far too low to compensate for the extra risk involved.
• You can't self-select loans in their ISA. 
• Their auto-invest product, including their ISA, do invest in the higher tier and higher LTV loans. There must be a temptation for them to dump higher risk loans that self-selectors won't touch in these products. 
• Their rates are a bit lower, though this is somewhat mitigated by having lower cash drag (most of their deals pay from the day you pledge to lend).

Although I do invest with them for diversification, I'm very fussy about which loans I invest in. Their 5% skin-in-the-game is a welcome feature, though much reduced from their original 20% stake when they first started. All in all I've found them professional and reliable and am happy to put some funds their way, but for the above reasons they don't make it on to my personal favourites list. 

Sounds like reasonable comments.  I wasn't aware of CP (not big into P2P, aside from a splash in Kuflink when they had an intro offer!), but sounds like they are a decent outfit too.
Who else *does* make it onto your "personal favourites list"?
Cheers!

Aceace

cfw1994 said:

Aceace said:

cfw1994 said:

Aceace said:

DireEmblem said:

I wonder if any p2p houses will share any statistics - this year is a really good stress test for the product.

The better ones do. Here's a good example: https://www.crowdproperty.com/statistics

https://www.kuflink.com/ have always shown the stats down their front page too. 

AFAIK (most recent review I can easily see here) they haven’t lost any investor money to date.  They take the first 5% “hit” on investments, which is a little reassuring.
All that said, we only have a teeny tiny amount of play cash invested!

Yes, I invest with Kuflink too. Their full stats page is https://www.kuflink.com/statistics/. 
In many ways they're similar to CrowdProperty and they have the advantage of a Secondary Market, but on most other measures they come up a bit short for me.

• They do lend on second charge deals whereas CP insist on first charge only. 
• Some of their LTVs are a little steep for me. Their stats page says 18% of their loans are over 80% LTV.
• Some of their loans are released as multi-tiers. Higher tiers are much more risky as they're effectively structured as higher charges. The higher rates offered for the higher tiers are far too low to compensate for the extra risk involved.
• You can't self-select loans in their ISA. 
• Their auto-invest product, including their ISA, do invest in the higher tier and higher LTV loans. There must be a temptation for them to dump higher risk loans that self-selectors won't touch in these products. 
• Their rates are a bit lower, though this is somewhat mitigated by having lower cash drag (most of their deals pay from the day you pledge to lend).

Although I do invest with them for diversification, I'm very fussy about which loans I invest in. Their 5% skin-in-the-game is a welcome feature, though much reduced from their original 20% stake when they first started. All in all I've found them professional and reliable and am happy to put some funds their way, but for the above reasons they don't make it on to my personal favourites list. 

Sounds like reasonable comments.  I wasn't aware of CP (not big into P2P, aside from a splash in Kuflink when they had an intro offer!), but sounds like they are a decent outfit too.
Who else *does* make it onto your "personal favourites list"?
Cheers!

The platforms that make it to my favourites list have fluctuated over time with platforms dropping in or out as they make mistakes or prove themselves through tough conditions, though my current favourites are becoming pretty set in now. I invest across the full Risk/reward range from the most cautious (Loanpad) to the most adventurous (AxiaFunder), using each for different purposes. For what is worth, my current favourites in alphabetical order are: 

• ABLrate
• AxiaFunder
• CapitalRise
• CrowdProperty
• Loanpad
• Unbolted

These won't all be suitable for all, remember that your capital is at risk with all of them as none will offer FSCS protection, but there should be something there to suit most risk appetites IMO.
I'm also investing in the following platforms. They're not in my absolute favourites list, but I'm happy enough to invest with them as suitable opportunities arise: 

• Assetz Capital
• Assetz Exchange
• Brickowner
• Kuflink
• Landlord Invest
• Proplend
• Uown

I'm also trying out ElfinMarket, OnStep and Qardus, but they're all too young for me to be able to form a considered opinion. 

In the interests of disclosure, I should declare that I have minor equity investments in many of the above and a major equity investment in AxiaFunder (major for me rather than them), but I have tried not to let that colour my judgement. Unfortunately, I also have minor equity investments in other platforms that have no chance of ever making it to my favourites list. 

quirkydeptless

I received another Growth Street repayment Today, about 12%

drphila

quirkydeptless said:

I received another Growth Street repayment Today, about 12%

....and there maybe more on Mon. when the email re progress goes out

CharllieSays

I've been using LendInvest, Funding Circle and Ratesetter for the last few years. Ratesetter was doing well, but seems to have gone a bit haywire since they were taken over by a bank. Funding Circle is doing ok but not taking on new clients right now as far as I'm aware. LendInvest has continuously outperformed the others (6-7%) and I never have any issue getting my money in/out, even during the height of the pandemic. In the last 3.5 years, had 2 properties go in arrears, but they sorted it out and it just meant I got a few extra months profit.

__cookiemonster__

I asked to withdraw my investment from Ratesetter on 19 March. The funds have been released to my holding account today. So, approximately nine months from request to release, but at least I have them.