Loanpad P2P - Reviews, experiences, info or updates, post them here. I'm having a dabble.

Albermarle

Yes, getting cash out has been equally as slick

With any of my P2P accounts , getting cash transferred from my cash account was never a problem , even in the depths of the Covid problems . What was a problem was getting money into the cash account in the first place, as loans etc needed to be sold and this was just not possible at the time and still not possible with some P2P sites. You just have to wait for the loans to payback ( or not ) and let the cash build up slowly before withdrawing it.

Technoholic

Malkytheheed said:

I've used Kufflink for a few years with absolutely no problems at all. That said, I still think I'm going to chuck it next year. The reason being the returns just aren't worth it for me. Most loans get 6-7% returns. Factor in there is quite a high element of risk, your money is locked away for at least a year, and inflation running at say 4% means your actual returns are 2-3%. Just not worth it fdor me anymore. Would rather put my capital elsewhere. 

Where would you put it to get a better return but better risk profile? Would like to know as I'm trying to work out where to invest currently, mainly for income but ideally some capital growth

Alexland

Technoholic said:

Where would you put it to get a better return but better risk profile? Would like to know as I'm trying to work out where to invest currently, mainly for income but ideally some capital growth

For a likely 6-7% annual return I would use a reasonably priced good quality UK investment trust such as MUT or DIG which should give around 4% in dividends and at least 3% in capital growth over the long term. The valuation might move about a bit on any given day and could crash 50% occasionally but at least the income will be stable, there is good liquidity and unlike P2P you are very unlikely to suffer a sudden 100% loss. I'd argue that's a much better risk/return profile than Kufflink.

Aceace

Alexland said:

Technoholic said:

Where would you put it to get a better return but better risk profile? Would like to know as I'm trying to work out where to invest currently, mainly for income but ideally some capital growth

For a likely 6-7% annual return I would use a reasonably priced good quality UK investment trust such as MUT or DIG which should give around 4% in dividends and at least 3% in capital growth over the long term. The valuation might move about a bit on any given day and could crash 50% occasionally but at least the income will be stable, there is good liquidity and unlike P2P you are very unlikely to suffer a sudden 100% loss. I'd argue that's a much better risk/return profile than Kufflink.

To imply that you are likely to suffer a sudden 100% loss in P2P is nonsense. If you pick a reputable platform, like Loanpad which we are discussing here, you would be no more likely to suffer a sudden 100% loss than in a UK investment trust.

Alexland

Aceace said:

To imply that you are likely to suffer a sudden 100% loss in P2P is nonsense. If you pick a reputable platform, like Loanpad which we are discussing here, you would be no more likely to suffer a sudden 100% loss than in a UK investment trust.

I'm no expert on Loanpad but like many P2P platforms they seem to be a small company incorporated in recent years. Are you really saying they are as safe as a conservatively run FTSE250 investment trust such as MUT incorporated in 1923 holding over a billion pounds of shares in above average quality companies such as AstraZeneca, Diageo, Coca Cola, etc?

Aceace

Alexland said:

Aceace said:

To imply that you are likely to suffer a sudden 100% loss in P2P is nonsense. If you pick a reputable platform, like Loanpad which we are discussing here, you would be no more likely to suffer a sudden 100% loss than in a UK investment trust.

I'm no expert on Loanpad but like many P2P platforms they seem to be a small company incorporated in recent years. Are you really saying they are as safe as a conservatively run FTSE250 investment trust such as MUT incorporated in 1923 holding over a billion pounds of shares in above average quality companies such as AstraZeneca, Diageo, Coca Cola, etc?

I think that neither are likely to "suffer a sudden 100% loss", which was what you were implying. 

Alexland

Aceace said:

I think that neither are likely to "suffer a sudden 100% loss", which was what you were implying. 

Looking at their last Companies House accounts they are a really small company with net assets of £126k assuming their £96.5k of debtors are reliable assets. I don't know what the statistics are on the survival rates of such companies, they may be one of the better P2P platforms, I wish them luck but it's hardly a company I would want to make any significant investment with.

Aceace

Alexland said:

Aceace said:

I think that neither are likely to "suffer a sudden 100% loss", which was what you were implying. 

Looking at their last Companies House accounts they are a really small company with net assets of £126k assuming their £96.5k of debtors are reliable assets. I don't know what the statistics are on the survival rates of such companies, they may be one of the better P2P platforms, I wish them luck but it's hardly a company I would want to make any significant investment with.

To not invest with them is your perogative, which I totally respect. But implying they were likely to suffer a sudden 100% loss shows a total lack of understanding of their business and their offering, IMO.

Alexland

Aceace said:

But implying they were likely to suffer a sudden 100% loss

I didn't quite say that. The possibility of a 100% loss is certainly something you need to consider when investing with a small P2P company and more probable than if you invested in a more established investment with higher quality and more liquid underlying assets.

Aceace

Alexland said:

Aceace said:

But implying they were likely to suffer a sudden 100% loss

I didn't quite say that.

You said "unlike P2P you are very unlikely to suffer a sudden 100% loss". And you said it in a thread that was specifically discussing Loanpad. I maintain that one is very unlikely to suffer a sudden 100% loss in Loanpad.