Peer-to-peer lending sites: MSE guide discussion

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  • bavli
    bavli Posts: 39 Forumite
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    Sorry to ask a possibly silly question but on Saving Stream, what does "drawdown" mean and what is the difference between a "yes" or "no" under "drawdown"?
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    bavli wrote: »
    Sorry to ask a possibly silly question but on Saving Stream, what does "drawdown" mean and what is the difference between a "yes" or "no" under "drawdown"?

    It means that the borrower has actually taken the money. If you invest in a loan that hasn't been drawn down, then you don't start earning until they do, or so I believe.
  • masonic
    masonic Posts: 23,275 Forumite
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    edited 1 August 2016 at 8:27PM
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    bigadaj wrote: »
    It means that the borrower has actually taken the money. If you invest in a loan that hasn't been drawn down, then you don't start earning until they do, or so I believe.
    Interest still accrues on loans that haven't drawn down, but with loans that still haven't drawn down after a protracted period there is a risk that they will be cancelled and your capital and accrued interest will be returned early and you will have to fight against other investors to reinvest in other loans through the secondary market.

    On the other hand, this is an relatively safe way of earning 12% for that short period.
  • asc1991
    asc1991 Posts: 95 Forumite
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    If anybody has a refer a friend thing for Lendinvest - please PM me asap!

    Thanks!
  • jnm21
    jnm21 Posts: 853 Forumite
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    Have you seen the news that the 3 year market is closing?
    Certain OTT members have caused me to add this disclaimer: all advice given is free of charge & as such should be taken to be IIRC (as I don't spend hours researching all answers :eek: )!
  • jnm21
    jnm21 Posts: 853 Forumite
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    Ash_Pole wrote: »
    I've just had this same problem on ratesetter. Wouldn't login on Chrome, 99% sure my details were correct, changed password but it still wouldn't work. Switched to IE and logged in no problem. Strange.
    I'm still having issues - won't work on my normal browser (Pale Moon), 2 other PCs or my phone (all Chrome), yet it will work on Chrome on my laptop (where it won't work with Pale Moon). Here is the kicker: on one PC, tried upgrading Chrome from the same version as the laptop - still no joy. Upgraded laptop to same version as PC & it still works. Been used on all the devices regularly since April.

    Been emailing them & aside from 1 apologetic call after no reply for over 2 working days, little progress! With 123 potentially becoming 12not3, I have 2 family members I expect to be able to refer, but at the moment, not sure if I would recommend to my worst enemy. :(

    I also see that there are issues with the GiffGaff loans provided by RS - the GG updates suggest that RS have done site changes which are the cause & can't fix - not a great advert.
    Certain OTT members have caused me to add this disclaimer: all advice given is free of charge & as such should be taken to be IIRC (as I don't spend hours researching all answers :eek: )!
  • jnm21
    jnm21 Posts: 853 Forumite
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    edited 5 August 2016 at 3:42PM
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    Trentenders wrote: »
    I can't on Chrome, but IE works fine
    They got back to me with a not us it's you - try clearing cache, which obviously annoyed me (I don't want to lose all my cached usernames).

    So decided to humour them by signing in using Private Browsing in Pale Moon (Incognito mode is the equivalent in Chrome) - worked fine. In normal mode I manually deleted any cookie containing ratesetter & boom - it now works too.

    While they solved it, they were actually the cause - clearly they set a duff cookie!

    Hope this helps anyone else having issues.
    Certain OTT members have caused me to add this disclaimer: all advice given is free of charge & as such should be taken to be IIRC (as I don't spend hours researching all answers :eek: )!
  • jnm21
    jnm21 Posts: 853 Forumite
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    Does anyone know of any introductory offers aside from ratesetter - with base rate drop, santander dropping 123 to 12not3 looks more likely, so want to start trying out more P2P & a little thank you from them goes a long way. Zopa are on TCB, but only for loans taken! :(
    Certain OTT members have caused me to add this disclaimer: all advice given is free of charge & as such should be taken to be IIRC (as I don't spend hours researching all answers :eek: )!
  • donglemouse
    donglemouse Posts: 2,652 Forumite
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    i think lendingworks & landbay both have refer a friend offers at the moment

    obviously you should assess the overall package not just sign up simply for that alone
  • mapk
    mapk Posts: 157 Forumite
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    jnm21 wrote: »
    Does anyone know of any introductory offers aside from ratesetter - with base rate drop, santander dropping 123 to 12not3 looks more likely, so want to start trying out more P2P & a little thank you from them goes a long way. Zopa are on TCB, but only for loans taken! :(

    Summary of cashback and offers here: http://cashback.p2pmoney.co.uk/
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