P2P Advice-where next?

longleggedhair

Following on from the other post re Zopa I am experiencing the same problem. I now have £5000 sitting in my holding account waiting to be matched.

I have been investing in P2P for over 10 years with Ratesetter & Zopa and had enjoyed reasonable returns that I’ve been happy with-but RS returned my money and now Zopa seems to be pushing out investors by the back door.

I have had a look through the various providers but I can’t quite decide where to go next. I want an established P2P company that’s going to survive turbulent times like RS & Zopa have.

PS Advice not needed from the army of haters of P2P. It makes up a small % of my portfolio (maybe 5%) and I have always had a reasonable return probably averaging about 6% over the years I’ve invested. I see P2P as a halfway house between cash and my Shares, and would like to find another platform to offload the cash from Zopa & Ratesetter…but as safely as possible.

TIA.

Albermarle

Zopa and Ratesetter are/were in the business of unsecured retail/consumer  loans to the general public.
The only other P2P player of any size in this space is Lending Works ( AFAIK ) and you will not find many people recommending them .
So you need to look at P2P companies with a different business model , which usually means secured lending on property in one way or the other . Loanpad is often mentioned on here and I have stuck with Assetz Capital who seem to be coming out of the other end of the Pandemic at last.

Aceace

Given your "as safe as possible" comment, then Loanpad would fit the bill, though as noted above, it's a different model to Zopa ands RS, which is a good thing in my view. There was a recent discussion on Loanpad here https://forums.moneysavingexpert.com/discussion/6308592/loanpad-p2p-any-reviews-experience-of-them-here-worth-a-dabble/p1.

You won't get your desired 6% at Loanpad. Their top rate is 4%, but that's reasonable for the security offered in my view. If you want more than 4% and are happy to take the extra risk then CrowdProperty, Kuflink or Unbolted might be worth a look.