Anybody using Saving Stream?

nushnush

im invested in SS, Money Thing and Assetz Capital, so far very happy with all three P2P sites, they all have slightly different offerings, very easy to invest with but they all carry a risk as do most investments. worth checking the p2pindependentforum forum out as it has loads of useful info

melbury

Have just been looking at their website.

Do you think it is acceptable to start with a fairly small amount (say a few hundred pounds) just to test the water, or would that make me look a complete prat?

I don't really know anything about P2P lending, but they do sound very convincing.

nushnush

its how i started, if you want to use SS then dont put any cash in until you have committed to an investment, then i paid for my investment plus £10, i then withdrew the £10er just to make sure everything was working. this is P2P and loads of people only have very small investments in it.
enjoy

nushnush

try to invest in something that has a large number of days left just till you get used to using the site

Jonbvn

I am a keen investor in SS and MT. I really like the concept of secured lending in general, over the less well defined ideal of provision funds and safeguard funds with a far lower ROI.

The key with any investment is diversification. That means numerous loans on each platform and using several different platforms. For secured lending you should look at Funding Secure, Ablrate, Assetz Capital, MoneyThing & Saving Stream. They all have pros & cons. DYOR

Turtle

nushnush wrote: »

try to invest in something that has a large number of days left just till you get used to using the site

Thanks, I have noticed it shows number of days left but I don't know what that means! Days left to what?

I must sound like an idiot, I'm not, I have now signed up to the p2p independent forum, but I want to be sure I understand how it works before I put any money into it and this forum I'm finding more user friendly than the p2p one.

masonic

Turtle wrote: »

Thanks, I have noticed it shows number of days left but I don't know what that means! Days left to what?

Days until expected repayment.

Turtle

masonic wrote: »

Days until expected repayment.

Thanks you. I'm looking at one loan that shows days left -42, there's £8879 available to lend and it shows as a 12 month loan. So does that mean they are 42 days late in repaying the loan? If so where does the 12 month term come into it?

Thanks for everyone's help!

richbeth

Turtle wrote: »

Thanks you. I'm looking at one loan that shows days left -42, there's £8879 available to lend and it shows as a 12 month loan. So does that mean they are 42 days late in repaying the loan? If so where does the 12 month term come into it?

Thanks for everyone's help!

You should try the Faqs and newbie thread on the p2p independent forum but FYI these are bridging loans so have an estimated repayment date. A negative days due means this has been exceeded, it's not really 'late' as such. It will mean an extension over the initial date has been agreed.
R

melbury

I was just reading reviews about SS on Trustpilot and came across this comment, quote:

Note that once you have started lending the system will continue to allocate parts of loans to your account whether you have funds in it or not! So setting pipe-line loan limit is, as far as I can see, how you control if you are lending or not. This is unlike other sites where money is only lent when funds are available.

I don't understand this, please can someone explain:( I thought you just deposited whatever the maximum you feel comfortable with, so how can they allocate loans to your account if there is no more money?