Peer-to-peer lending sites: MSE guide discussion

masonic

Biggles wrote: »

What's that?

https://ssl.comodo.com/site-seal.php

olliebean

An awful lot of defaults on Zopa this month. Two weeks out of four my balance has actually gone down - I don't think it's ever done that before - and consequently I'm only up by less than 0.2% since the start of the month. I hope this isn't the start of a trend.

coyrls

olliebean wrote: »

An awful lot of defaults on Zopa this month. Two weeks out of four my balance has actually gone down - I don't think it's ever done that before - and consequently I'm only up by less than 0.2% since the start of the month. I hope this isn't the start of a trend.

Some information here: http://blog.zopa.com/2017/03/17/plus-turns-one/

TheShape

Anyone else currently using Lending Works?

I made my first p2p investments (approx six weeks ago) there, £100 in the Classic Account and then £100 in the IFISA. Since then I've taken a greater interest in Ablerate, MoneyThing, Collateral and FundingSecure, and their higher rates so mostly ignored Lending Works. Only a smaller investor currently (approx £5k accross platforms).

With it being the end of the tax year I'm trying to decide whether to make a lump-sum deposit (plenty of unused ISA allowance) and let it do its thing in the background quietly reinvesting returns tax-free while I actively invest in the other platforms and leaving things open to start a different IFISA in 17/18.

jamesd

MoneyThing received full FCA authorisation on 24 March and Ablrate today, 31 March.

No word yet from either on possible ISA availability timetable but full authorisation is one of the mandatory preliminary requirements.

EdGasket

http://www.p2pfinancenews.co.uk/2016/10/10/gli-finance-p2p-default/

jamesd

That's somewhat amusing for it was at the same October 2016 conference where in a keynote speech Lord Turner backtracked on his comments earlier in the year and said that P2P could be a stable and secure sector.

There really is the potential for platforms to exploit lender demand and lower rates to unprofitable levels, though, and I think that at least one platform, that I recommend against using, might be doing it. It's one of the risks to be aware of if rates do start to drop without a corresponding clear drop in risk level for the lower priced loans.

fun4everyone

Funding Secure now fully authorised by the FCA

fun4everyone

The benefits of selling/buying on the Funding Secure SM are nice. The problem I have with calculating when to buy is that its not just the tax liability you are taking on, you are taking on the full default risk as well. How to fit this into my calculations I am not 100% on although clearly you need a bit more on top.

adindas

olliebean wrote: »

An awful lot of defaults on Zopa this month. Two weeks out of four my balance has actually gone down - I don't think it's ever done that before - and consequently I'm only up by less than 0.2% since the start of the month. I hope this isn't the start of a trend.

Hi olliebean
I have seen form your signature you earned from survey the amount of £427.30. Would you please explain how did you do that ?
Which survey website have you done the survey.