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Old 28-08-2016, 18:05   #1
Arthur Fowler
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Peer to peer lending

I'm looking into putting a toe in the peer to peer lending market as interest rates are so low and I am about to come into a lump sum that I would like to see earning more than 1.5% on.

I shan't put a huge amount in as I am risk averse. Perhaps a few thousand.

I shall probably go with Ratesetter but haven't done a huge amount of research yet.

Anyone here investing in one?
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Old 28-08-2016, 18:30   #2
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Ratesetter or Zopa seem the ones to go for. Spreading the investment as far as possible makes sense, Zopa split it into £10 chunks iirc
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Old 28-08-2016, 19:04   #3
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It's a bit of a risk but I've not heard of any major issues with people losing their money.
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Old 29-08-2016, 10:06   #4
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I've been waiting since April to open a P2P account, as I would prefer to shelter the money in a new P2P innovative finance ISA, but there is still no sign of the major P2P sites getting their final authorisation.

If you want to go the ISA route I believe you are still limited at the moment to just Abundance Investment, Crowd2Fund and Crowdstacker. Ratesetter et al still have the pages to register interest in their IFISAs that are "coming soon".

I eventually decided to go with Crowd2Fund. Their platform is nice, and I only have a few thousand in it at the moment as a test. It's money that I'd likely spend otherwise so I'm not hugely concerned.
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Old 02-02-2021, 09:51   #5
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sad news today, ratesetter are closing down their scheme. i had been using them for my is a for last few years and making 4-5% on it

now need to find somewhere else to transfer £50k into, which will obviously be at a sucky 1% rate now in a cash is a. not looked at other P2P lending Isa's yet, but will check them out.
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Old 02-02-2021, 12:42   #6
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No apparent mention on their website yet.

As mentioned above >>



Be interesting to hear how you get on, CJ.
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Old 02-02-2021, 20:38   #7
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Lots of choices out there, can even make introductions whereby one or both parties get a bonus for new customers
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