P2P Investing

Jokester said:
Just had a look in, ISA is doing 9.0%, my higher risk Classic is doing 10.9%. I would imagine almost all my S&SISAs will be down come the end of financial year, unless there's a turn around on the markets (not expecting there to be).
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When I first started with Funding Circle, there was an option to select higher risk investments, but they seem to have ditched that. Now you can have low risk, or very low risk. Unless you've found a hidden button somewhere where you can still select high risk?
 
SlyReaper said:
When I first started with Funding Circle, there was an option to select higher risk investments, but they seem to have ditched that. Now you can have low risk, or very low risk. Unless you've found a hidden button somewhere where you can still select high risk?
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No, they ditched the ability to cherry pick loans last year, my Classic account contains a mix of loans that are about 20% interest rate from before they made the change.
 
Jokester said:
No, they ditched the ability to cherry pick loans last year, my Classic account contains a mix of loans that are about 20% interest rate from before they made the change.
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Hmm... If you didn't have the older loans would you still invest at their current rates? I was thinking looking on Ratesetter their standard account return is quoted now as like 1.8% which seems almost too low to justify the risk
 
uncle_rufus said:
Hmm... If you didn't have the older loans would you still invest at their current rates? I was thinking looking on Ratesetter their standard account return is quoted now as like 1.8% which seems almost too low to justify the risk
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This is on Funding Circle which I assume are still offering the two options of ~5 and ~8% returns?, I don't use Ratesetter anymore, the returns are substantially lower (though substantially lower risk as they do say they cover bad loans from the fund) and you're locking the cash in for the period of the loan. At least Funding Circle allows you to sell on the loans mid term if you want to cash out.
 
uncle_rufus said:
Hmm... If you didn't have the older loans would you still invest at their current rates? I was thinking looking on Ratesetter their standard account return is quoted now as like 1.8% which seems almost too low to justify the risk
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Its very low due to the way it works, it will be back up within a few days.
Yesterday they had the start of month processing but it finished very late, so it put a chunk of money on the market after lots had matched yesterday

Dec/Early Jan can be a funny time. Jan/Feb is usually quite a good time to lend as people tend to get loans
 
Jokester said:
This is on Funding Circle which I assume are still offering the two options of ~5 and ~8% returns?, I don't use Ratesetter anymore, the returns are substantially lower (though substantially lower risk as they do say they cover bad loans from the fund) and you're locking the cash in for the period of the loan. At least Funding Circle allows you to sell on the loans mid term if you want to cash out.
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You can sell on RS as well.
Rolling is fee free
1 Year is iirc 1%
and 5 year is iirc 3%
The % is of the capital withdrawn.

The only thing you cannot sell is a loan <£10
 
I'm thinking of taking my money out of my share dealing account as over the last 2 years it's currently down 3%, seem to have missed the boat on the years it was rising 10-16%. It's a longterm fund but I've just lost hope in it and wouldn't mind the risk.
 
Ayahuasca said:
I'm thinking of taking my money out of my share dealing account as over the last 2 years it's currently down 3%, seem to have missed the boat on the years it was rising 10-16%. It's a longterm fund but I've just lost hope in it and wouldn't mind the risk.
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If you invested long term, then stick with it (assuming it's diversified).
 
I’ve recently pulled out the majority of funds from my p2p investments ahead of Brexit, and on the back of general consumer debt levels right now. May go in again in another six months
 
The financial website linked above is a good resource.

I am not investing further with either Zopa, RS or Funding Circle. All have cut their rates significantly. My a-c credit checked loans on Funding Circle have had a lot of defaults. There does not seem to be that good debt collection either. Waiting to see how that plays out before investing any more.
 
Efour said:
I was looking at this as an alternative place to invest and it doesn't look half as appealing as it was, like most things right now :(
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It's not as lucrative as it was, but I have tried other places with toe-dip amounts to see how they perform. Your choice but I stick to asset backed stuff. Look at the Financial website, there are a lot of options bar the big 3.

Funding circle off the top of my head was around £180 interest and £88 bad debt. Had it open for a few years. Better than the high street by a long way, but I reserve the right to be miffed at £88 (I know it's part of the risk etc).
 
Well, decided to sell off my non ISA Funding Circle fund three weeks ago. How much has been sold in the last 3 weeks? None of it - so it seems it's not actually possible to cash out mid term now!
 
I'm in the rolling market on Ratesetter. The rate seemed to beat any savings account I could find. I think the rolling market cashing out isn't a problem. It's more on the 3 year and 5 year loans that need to get matched.
 
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