Trustbuddy p2p lending

PatrickO_3

I am thinking of putting some money into P2P lending investment.

Has anyone used the Trustbuddy. What was your experience>?

agent69

PatrickO wrote: »

I am thinking of putting some money into P2P lending investment.

Has anyone used the Trustbuddy. What was your experience>?

If you're thinking of dipping your toe in the P2P market, why would you start with an obscure foreign company like Trust Buddy. Better trying one of the established UK people.

I personally wouldn't use them because they are effectively a pay day lender.

davemort

PatrickO wrote: »

I am thinking of putting some money into P2P lending investment.

Has anyone used the Trustbuddy. What was your experience>?

This is definitely Pay Day loan territory - with a Scandinavian twist - if a borrower returns his/her loan within 15 days they pay zero interest!
I have made 2 small investments to test the water. They seem very professional with a slick system (and helpful advice contacts).
Too soon to give any verdict but one warning. My first investment was from my current a/c to Trustbuddy Norway - no problem with transfer but horrendous bank fees mean interest so far has failed to recoup cost. Second investment used Transferwise service (MSE recommendation) and to Trustbuddy Finland (Euros) so much cheaper.
How much Wonga before I make a profit?

Silverpete

davemort wrote: »

...Second investment used Transferwise service (MSE recommendation) and to Trustbuddy Finland (Euros) so much cheaper. How much Wonga before I make a profit?

How did you make that transfer through Transferwise? I'd like to use them but Trustbuddy say they will return any money not sent through original your registered bank account.
Thanks
Peter

davemort

Hi Silverpete
Sorry for delay in reply
Here's a response to me from a guy in Stockholm


Jesper Ugland
Lending Relations Officer

"You can use my personal email - Jesper@trustbuddy.com for transfers through transferwise."


Suggest contact him first


Regards


Davemort

Archi_Bald

:spam: on a Sunday night....suppose it's par of the course

AJM87

Just wondering what the verdict was on using Trustbuddy in the end from your test. Was it worth it or is it one of the P2P lenders to avoid?

paslaw

I have problems lending to TrustBuddy Invested money in 2014 and cannot get a single penny back. I stopped th lending on my account in February and accordingly I I should have been able to get 90% back losing interest and the remainder in six months. After six months I have had nothing returned the help desk simple repeat that its still loaned out?