P2P - Ratesetter

Fatbritabroad

I only use lending works and ablrate both in ifisas. And only about 5k in each out of 60k non pension savings. I wouldn't be willing to risk more than that i dont think

Joe_Bloggs

@jscol
An interest rate of 3% barely covers the inflation rate that we experience. If you think the rate is too low for you, then it is by definition.

Loans made with Ratesetter can be fully repaid without notice.
They provide a reinvestment path but always choose your own, considered rate, than just the 'market rate' offered. without thought for supply and demand.

J_B.The IFISA option has sucked in a lot of money but this has not changed the amount of borrowers, hence rates are lower

drphila

jscol wrote: »

p2p could be very badly affected by a recession as borrowing companies and individuals go bust and never repay.

The bigger risk to me is platform failure in a severe recession. Defaults rocket, the platform staff cannot cope and the whole thing spirals downwards.

Diversification, as said above, is key as is due diligence on the platforms. I wouldn't go near any platform that is not 100% committed or able to prompt and efficient loan recovery under current normal market conditions. Unfortunately, there are plenty examples of platforms lacking in this aspect on the p2pindy forum.

Having said that, there are also excellent cashback deals available for some platforms (see the MSE referrers board, for example) which probably make the risk worthwhile for the first year.

soulsaver

Shedman wrote: »

Not quite sure why you infer that Ratesetter Rolling is effectively 30 day access? Whenever I've withdrawn Rolling Market funds on loan I've had the money back in my Holding account within minutes (on amounts up to £15k not just a couple of hundred) and then been able to transfer to my linked account where it has appeared next day.

Mind you the rates on RS Rolling have been so pathetically low recently its no longer worthwhile.

Might have a look at the Kufflink cashback offer (via your referral link) though as looks like it could be worth a punt.

Note: Whilst your rolling market funds is USUALLY accessible, it is on the proviso the loans can be sold on.
In the event they can't, you may find yourself stuck with a low interest rate until repaid... theoretically up to 5 years.

bxboards

soulsaver wrote: »

Note: Whilst your rolling market funds is USUALLY accessible, it is on the proviso the loans can be sold on.
In the event they can't, you may find yourself stuck with a low interest rate until repaid... theoretically up to 5 years.

I've got some Ratesetter rolling I'm trying to get back and its been a few days and I may need to wait out the remainder.

I am stuck on a low rate and trying to sell out. So I assume 30 days, although it can be quicker. I would assume lower rates would be easier to sell out, but this might not be the case.

My average on Ratesetter is 5.8%, this is mostly through 1 year rates which were around the 5.5% to 6.5% for a reasonable chunk o the back end of last year.

I would not be investing at current rolling - its below inflation and giving it away really.

buyhighselllow

firestone wrote: »

Not with them so not sure if its a good or bad move but Kufflink have changed the way their product is run this week with regards the 20% funding they did - so could be worth looking at the indie forum etc if considering

I have been put off getting involved with them, regardless of the incentive. I'd stick with RS/Assetz/FC to a level you are comfortable with

jennyjj

bxboards wrote: »

I would assume lower rates would be easier to sell out, but this might not be the case.

No. It's the oposite. Buyers of 2nd hand loans will want to buy the ones giving the best yield. If you hold loans with low interest rates, that's a double whammy. You don't want them and neither does anyone else.

bxboards

jennyjj wrote: »

No. It's the oposite. Buyers of 2nd hand loans will want to buy the ones giving the best yield. If you hold loans with low interest rates, that's a double whammy. You don't want them and neither does anyone else.

Makes sense, I suspect I'll be locked in for the 30 day rolling duration, I stupidly had market rate sent for a repayment and it got lent out at a stupidly low rate!

bxboards

buyhighselllow wrote: »

I have been put off getting involved with them, regardless of the incentive. I'd stick with RS/Assetz/FC to a level you are comfortable with

I use all those sites. I've been with Kuflink almost since year zero in self-select and auto invest. No losses, and regular capital repayments as well as interest.

I don't think the Kuflink offering is any worse than anyone else with the changes - bear in mind that Kuflink are paying £100 for a £500 investment, then that is the 20% right there, and its paid within 14 days. If you auto-invest, then there is no change anyway.
Assetz don't offer any incentives as far as I am aware

I think I use around 10 P2P sites in total - I've avoided the ones with lots of defaults, ie Lendy / Moneything / Funding Secure as I don't trust a lot of the valuations, and there too many property development loans for my liking.

buyhighselllow

bxboards wrote: »

I use all those sites. I've been with Kuflink almost since year zero in self-select and auto invest. No losses, and regular capital repayments as well as interest.

I don't think the Kuflink offering is any worse than anyone else with the changes - bear in mind that Kuflink are paying £100 for a £500 investment, then that is the 20% right there, and its paid within 14 days. If you auto-invest, then there is no change anyway.
Assetz don't offer any incentives as far as I am aware

I think I use around 10 P2P sites in total - I've avoided the ones with lots of defaults, ie Lendy / Moneything / Funding Secure as I don't trust a lot of the valuations, and there too many property development loans for my liking.

Hi bxboards
I decided to go with it, have signed up via your link but your inbox is full for me to DM you my name