Peer-to-peer lending sites: MSE guide discussion

economic wrote: »

Out of all the ones i have RS, LW, Landbay, ABL seems like the least risk i think so i may just hold these for now and let repayments come back to my bank account.

Assetz, FC, Zopa i am selling and taking a hit with the fee in some cases.

I still have a defaulted loan with MT yet to be paid, it was meant to be paid mid feb....

I remember Jamesd said he had boosted his P2P investments in this thread. I hope he didnt put anything in Col. Even not i would not like to have large positions in aggregate in P2P right now.

Ablrate seems well run and my largest overall investment in a platform now. I think I hold it and not do anything hasty there, but feel I need to get the overall P2P amount down now.

MT has become a bit of a mess for me now with the defaults and if possible would rather run the property down or get out on repayments. Maybe some defaults will pay back.

My Ratesetter is now sitting at 4.9% it is not high enough I don't think to keep that P2P risk and feel that money now be better used to invest in my S&S ISA and has a better chance to return better there than ratesetter.

I started with Unbolted and Lending Works recently, but not big sums. I was tipping over 17k in P2P, Collaterals £4600 hit and £750 MT defaults brings that down. I am in that loan also on MT that was to be paid mid Feb.

I think I will trim down what is left, ratesetter seems next with the 4.9% rate not worth it. Will hold Albrate I think at the moment. They seem to be as good as you will get in P2P and have the ISA.

I would be interested in Jamesd thoughts on this all too, Jamesd had a lot invested and has a lot of experience, I do recall Jamesd investing largely in some loans and getting the cash back, he may of sold out, but I don't know if he has sums still with Collateral. Be interested as always Jamesd thoughts and hopefully he is not badly affected from this development as well.

thenewcomer wrote: »

jamesd did say he invested over 60k in a loan with cashback, i think....

I recall that it was 50k / 60k type amount with cashback and maybe put for sale after that, the loan maybe has repaid too. I don't know if there was any sums left on Collateral after that from Jamesd.

I'm using ablrate and the new loan has filled quickly so doesn't seem to have had an issue. Well we long term whether fear or greed wins out

Fatbritabroad wrote: »

To be fair anyone who had huge amounts in this I would say was foolish or greedy. I Only have 4k in abl and am only reinvesting interest. Wouldn't be delighted to lose this but It wouldn't do anything other than royally p*as me off

I have just over 5K in Ablrate, I got £20 re-payments today, it's sitting on my account. Won't react hasty with Ablrate, but won't be adding new funds at the moment either with this situation. Still nothing from Collateral, guess see what tomorrow brings.