P2P: MoneyThing

economic

bigadaj wrote: »

The FCA have not been happy with direct platform involvement in several cases, in most cases they have removed the issue around the platform lending and then funding such that the platform acts as an agent or intermediary.

Provision funds are a tricky area, it's nice to think there's additional security but their existence and how robust they are have been open to question, Lendy being a prime example.

I think the platforms are finding it difficult now, most seem to go through a honeymoon period starting with pawn and low value items, grow in scale which generally means property and then to maintain deal flow, and commission, revenue no doubt, start to take on loans they shouldn't.

I have been happy with the three platforms I've been using for the last two years or so but all have had loans recently that I've ducked because if questions over security or valuation.

Moneything have a new bollington loan tomorrow and I'm undecided, same borrower I believe as the soft default in Plymouth, though I have no money in the latter.

which platforms do you use now?

im getting out of lendy, MT, growth street and collateral.

Im sticking with funding circle, assetz, lending works, landbay, ratesetter, ablrate, unbolted.

main reason i have so many is diversification. 10k each is my limit to reduce platform risk. total 50k invested (which is 6% of net worth).

takesyourchances

keyboardworrier wrote: »

Of course there is no certainty, but my favoured platform at the moment (Kuflink) takes the first 20% of any losses if they occur and I think taking an interest rate hit for that kind of security is worth it. Also Assetz Capital have the hands off account paying 7% with a provision fund.

I'll think about it some more but I have a feeling I will start to diversify away from the riskier end of P2P lending

I have been using Assetz Capital as well and the 7% hands off accounts, I have been putting money into the Green Engery account - it is slow to get in but it has been filtering in and I have it as a hands off account to spread things around a liitle.

takesyourchances

economic wrote: »

which platforms do you use now?

im getting out of lendy, MT, growth street and collateral.

Im sticking with funding circle, assetz, lending works, landbay, ratesetter, ablrate, unbolted.

main reason i have so many is diversification. 10k each is my limit to reduce platform risk. total 50k invested (which is 6% of net worth).

With mine, I have been happy with Collateral, although too much property lately. MT at this rate I may end up reducing as it has the most problems out what I hold now. Will see how deal flows go too. I hold Ablrate as well, I like this platform, so far so good, deals a little slow but touch wood has been ok so far.

I also hold Assetz Captial, although hands off accounts to keep it simple and in the end I kept ratesetter but just reinvesting interest etc at the moment.

I want to raise my cash buffer back a little higher again as well and I have been putting more into my S&S ISA the last month or more with how the P2P has been, but overall spreading around them all in some way.

economic

takesyourchances wrote: »

With mine, I have been happy with Collateral, although too much property lately. MT at this rate I may end up reducing as it has the most problems out what I hold now. Will see how deal flows go too. I hold Ablrate as well, I like this platform, so far so good, deals a little slow but touch wood has been ok so far.

I also hold Assetz Captial, although hands off accounts to keep it simple and in the end I kept ratesetter but just reinvesting interest etc at the moment.

I want to raise my cash buffer back a little higher again as well and I have been putting more into my S&S ISA the last month or more with how the P2P has been, but overall spreading around them all in some way.

what % P2P of your total net worth do you hold?

economic

im currently:

- my home 42%
- cash 17%
- p2p 6%
- Stocks 22%
- pension(all stocks) 12%

excluding home:
- cash 30%
- p2p 11%
- Stocks 37%
- pension(all stocks) 21%

i think its important to keep an eye on p2p exposure as its a new asset class which is untested.

takesyourchances

economic wrote: »

what % P2P of your total net worth do you hold?

If you include my property etc then I would be around 5 to 6% in P2P.

It gets hard to not go a little heavy in some loans when deal flows are low, then a default can catch you out. Some may re=pay, but until that happens its not certain.

There is an awful lot of property now in P2P now between this and cars, this is were defaults for me has come from.

economic

takesyourchances wrote: »

If you include my property etc then I would be around 5 to 6% in P2P.

It gets hard to not go a little heavy in some loans when deal flows are low, then a default can catch you out. Some may re=pay, but until that happens its not certain.

There is an awful lot of property now in P2P now between this and cars, this is were defaults for me has come from.

thats why i stick mainly to the high deal flow platforms that are auto invest platforms too.

the ones i am getting rid of are the low deal flow platform and ones with dodgy looking valuations (lendy).

takesyourchances

economic wrote: »

im currently:

- my home 42%
- cash 17%
- p2p 6%
- Stocks 22%
- pension(all stocks) 12%

excluding home:
- cash 30%
- p2p 11%
- Stocks 37%
- pension(all stocks) 21%

i think its important to keep an eye on p2p exposure as its a new asset class which is untested.

I would have to sit and work it out correctly, but my stocks is much higher than my P2P, my cash has been at its lowest level in recent years due to investing more idle cash into S&S ISA and across P2P.

I started to save a bit more back into cash too recently, also so I have some more sitting for stock dips etc too. I have been thinking to not invest as much new money into P2P for a while as you said it is important to keep an eye on P2P exposure as it can easy run away before you know it.

takesyourchances

economic wrote: »

thats why i stick mainly to the high deal flow platforms that are auto invest platforms too.

the ones i am getting rid of are the low deal flow platform and ones with dodgy looking valuations (lendy).

I like the format of Assetz Captial and will just use their auto invest accounts as Collateral, MT and Ablrate are enough to keep going for me hands on. Ratesetter I just log in now and then and check and out.

I follow the p2p forum closely which is very good. I hope MT gets good results from the defaults, but a bit too much property overall has most of us overexposed more than we would like to it I think.

bigadaj

economic wrote: »

thats why i stick mainly to the high deal flow platforms that are auto invest platforms too.

the ones i am getting rid of are the low deal flow platform and ones with dodgy looking valuations (lendy).

I don't use any auto invest, you are just too much at risk without information in my opinion.


I'd agree about Lendy and stopped using them last year, the MT issues recently are disappointing and they are a little caught between a rock and a hard place, people expect 1% a month but then start squealing when there is a default, so long as the security is there, and some valuations are optimistic to say the least, then return of the majority of capital shouldn't be an issue.


Just wonder why you are using ratesetter, they've had issues and returns are poor?


I've not researched all the platforms by any means, and my use of MT, Coll & Abl was working well until recently, MT default are becoming an issue and deal flow on all platforms is problematic.