Peer-to-peer lending sites: MSE guide discussion

I see RateSetter have reduced their 1 year rate to a paltry 3.2%, which is pretty offensive for a P2P platform. I think it was at least half a percentage point higher just a week ago - does that mean they are "paying" for the referral fees by reducing the interest rates they offer?

I'm still intending to sign up this week as circa 13% is too good not to invest. That said the name of the platform indicates investors have some control over their percentage returns (and their risk appetite). How does this work? Could I invest in the everyday 1 year market and "insist" on 3.7%? Would like position lead to my funds being unmatched? Any advice would be greatly received.

djpix99 wrote: »

If the current market rate is 3.2% and you were to offer your funds at 3.7%, you would probably get a match for your funds within a week(in my experience). Once you sign up you can choose the market rate or to set your own(expert mode). In expert mode you can see what others are offering and what loans people are looking for which helps when putting your offer in.

Thank you. I went 0.5% above the default rate and managed to get matched within an hour.

takesyourchances wrote: »

The Collateral situation looks like it is going to be a long haul wait to start to solve reading the P2P forum. I have lowered my P2P on repayments and moved them to my S&S ISA lately, slowly a few loans sold on MT and another couple starting to move closer to selling up the queue.

Only time will tell how long it will take, we're in our second statutory 8 week wait for administrator proposals and it does appear those in the secret forum are seeking to form a creditor committee, which could slow things down further but potentially exert some influence over proceedings.

Anyone else involved with Collateral and P2P in general have you lowered your P2P more recently overall?

I'm involved to the tune of about 2.5% of my investable assets. I've increased my P2P since the events of February/March and brought accounts with 2 additional P2P platforms online. Having written off my investments through COL (not because I think nothing will be recovered, but because I simply can't predict what will be recovered), I needed to rebalance, and my S&S portfolio has also done rather well despite my misgivings about the global economy.

masonic wrote: »

Only time will tell how long it will take, we're in our second statutory 8 week wait for administrator proposals and it does appear those in the secret forum are seeking to form a creditor committee, which could slow things down further but potentially exert some influence over proceedings.

I'm involved to the tune of about 2.5% of my investable assets. I've increased my P2P since the events of February/March and brought accounts with 2 additional P2P platforms online. Having written off my investments through COL (not because I think nothing will be recovered, but because I simply can't predict what will be recovered), I needed to rebalance, and my S&S portfolio has also done rather well despite my misgivings about the global economy.

I had not read the secret forum in a while, I guess that was the one that sprung up when the p2p forum closed for a brief period. So seems likely a form of committee will get started.



2.5% seems more better of your investable assets in P2P, my P2P did run away overall against my overall investable assets and I am more trimming it back slowly on repayments and increasing my stocks and shares investments. For the long term I want to increase these higher.



Was a pity to see unbolted lower their rates, but will still keep my investment there.



I am taking the same type of view with COL, I have mentally written it off as I have no idea how much we will get back. I think we will start to see something back after an extended period of time, but how much of our investment nobody knows.



I am really rebalancing my overall portfolio to increase my stocks and shares investments and really want to see my account break into the 100k bracket. My P2P I will review as the ratio starts to lower against my other investnents and I am slowly decreasing as part of rebalancing at the moment.

fun4everyone wrote: »

I reduced my p2p allocation due to Collateral also. Platform failure was a risk I mitigated by diversifying across 7 p2p sites but it was still a shock. It was not only myself who trusted them but many respected posters across here and the p2p forum seemed to trust them as well, so it was all a bit of a surprise.

I also have written off my money in collateral although I think all of us will, eventually, get a fair recovery. As masonic pointed out the reason to write it off for now is because it will no doubt take a long time to get resolved. I'm not getting involved in discussions on the p2p forum nor am I emailing the administrators, both a waste of time imo. What I am curious to read more about are the allegations of customer money in ring fenced accounts being transferred out and into directors accounts before it all went pear shaped. No idea what the truth is there but it sounds like it's going to come out eventually.

I've always been S&S for the majority of my investments for a substantial amount of time and am keeping that way until long after retirement age. I've held cryptocurrency for a long time as well and despite the uninformed rage I read from otherwise intelligent posters on here that has performed spectacularly, even in the current crypto bear market. Honestly I don't post on the main threads about it on here because it attracts so much ignorance but it holds real potential for the future of the world and I'm very glad I invested in it when I did and I am very glad to hold it going forward. I am not glad I invested in p2p, apart from kufflink and the ratesetter bonuses .

I was in about 7 platforms too with P2P, but Collateral was a big hit to my P2P still as it was my second highest. I totally agree with you and Masonic on the reason on writing COL off, in time we should get a reasonable recovery, but when and how much is something we cannot control so best get on with things and let it resolve in it's own way. I feel there will be some defaults to come with COL loans and few problems here and then as it starts to resolve.



This is the only forum I post on, I have no interest either getting involved with secret forums or discussing COL for the next 2 years daily lol ....like you, I would like to know the truth of COL in the end of the allegations of customer money in ring fenced accounts being transferred out and into directors accounts before it all went pear shaped, that will be interesting for sure!



We were duped and many respected posters along with us.



I kinda got away last year from my S&S investing, I was still investing monthly but the P2P got more per month last year, so my eye is back onto that and have been increasing back with the bit between my teeth to increase this higher. Like you I plan to keep it that way until long after retirement age and see it as life long investing.



To be honest I don't know much on cryptocurrency, but can see why some would want to hold some of it as it is a digital world and you just never know. I see it gets a lot of hammer at times in threads, but I really don't know much on it which is surprising really as I am into technology and things too. I don't understand how bitcoin is mined or anything. I don't know if the boat has been missed on it getting in.



I will steer my money to my S&S for now, some of my alternative investing found a fair chunk with COL so I best not invest in something else alternative that I don't really understand :rotfl: