Funding circle-do you use it?

C_Mababejive

This is mainly a survey to gauge peoples comfort zones when pushing money onto funding circle..

MarkFromCornwall

I'm happy to vote on your survey but to achieve your aim of seeing how comfortable people are with lending on FC you might be better to ask what percentage of their savings and investments they have in FC. Someone with £2000 of savings/investments who lends £1000 on FC is, in my view, taking an unwise risk, but someone with £200,000 of savings/investments who also lends £1000 on FC is being very cautious.

Archi_Bald

Also, the proportion of people who have not invested in FC versus those who have should be an indicator. As the poll stands, you couldn't identify this.

Sam_J12

You should probably add an option "What is Funding Circle?". That is what I would vote for.

jimjames

And an option for never using it

masonic

I've never invested anything through Funding Circle, but I do have money invested in six other P2P platforms. I've not voted as 'upto £500' is the closest option, but it would be misleading in my case.

Futuristic

Use to have a few k in it, surprisingly had some luck and a few loans repaid early with full interest and others sold for profit. I pretty much pulled all my p2p lending and put the funds into a S&S ISA now.

Kendall80

Futuristic wrote: »

Use to have a few k in it, surprisingly had some luck and a few loans repaid early with full interest and others sold for profit. I pretty much pulled all my p2p lending and put the funds into a S&S ISA now.

If they were FSCS guaranteed, i'd probably do the reverse.



I'm on 10% average at the moment after fees. If I could lock that in for the next 20 years forget S&S.

Rollinghome

Kendall80 wrote: »

If they were FSCS guaranteed, i'd probably do the reverse.

I'm on 10% average at the moment after fees. If I could lock that in for the next 20 years forget S&S.

If they were FSCS guaranteed I assume most people would do the same.

They aren't, and some of the leading lights, such as the founder of Ratesetter, have been lobbying to abolish the FSCS for all savings accounts. Rhydian Lewis: "In my view, we should abolish the FSCS for savings accounts entirely." (See)

Either increasing the safety of P2P or reducing the safety and therefore competition from conventional savings would result in P2P offering lower rates.

Without a crystal ball, locking into a P2P investment for 20 years would certainly be exciting. A lot can happen in just 5 years and could be more than exciting enough for most.

Archi_Bald

Rollinghome wrote: »

Rhydian Lewis: "In my view, we should abolish the FSCS for savings accounts entirely." (See)

Thanks for that link. I shall refrain from putting any money into Mr. Lewis' company then.

redux

I joined Funding Circle, and am looking at it occasionally, but I'm disappointed that maybe about 90% of it is property development schemes.

Yes, there's money to be made in redeveloping properties, but not always.

Think about that place down the road, a pub that closed 10 years ago, surrounded with boards and a couple of signs about a new nursing home coming soon. Since 7 or 8 years ago.

How come some of these things become more feasible as the cost of borrowing money increases?