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Re: Peer to peer lending, anyone do this ? [Re: Dean-Royal] #576285
12/05/19 05:45 PM
12/05/19 05:45 PM
Joined: Aug 2010
Posts: 2,999
Costock, South Nottinghamshire...
Paul F Offline
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Paul F  Offline
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Joined: Aug 2010
Posts: 2,999
Costock, South Nottinghamshire...
Originally Posted By Dean-Royal
Originally Posted By Bonesie
Thinking of chucking a few quid in a peer to peer lending platform such as Funding Circle, the house crowd or similar ? Not vast amounts, couple of k.

Does anyone have any experiences with such things ?


I am sick of junk emails off them


It comes through the post here from Funding Circle and similar. If the accountant gets his act together, the 2 remaining limited companies will be de-registered soon which should give a massive reduction in unsolicited post.

Last edited by Paul F; 12/05/19 05:45 PM.

Paul
Costock, UK
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Re: Peer to peer lending, anyone do this ? [Re: Bonesie] #576318
12/05/19 10:53 PM
12/05/19 10:53 PM
Joined: Dec 2011
Posts: 1,943
Seattle, USA
B
Button Offline
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B

Joined: Dec 2011
Posts: 1,943
Seattle, USA
Things get dicey when investing Internationally. Not only the investment must be good but the Exchange must stay steady. I used to Invest in Canada quite a lot but often My investment was good but the U.S./Canada exchange rate did not hold up. Then the tax implications between the two countries. At the age of 89 I am in U.S. Cash. I did well with the S&P500 Index Fund - average 9% but when Trump became President, my age was very senior, and My funds available for investment diminished I opted for Cash. I was no longer in the position of I could loose and still live well.


Button
Re: Peer to peer lending, anyone do this ? [Re: Bonesie] #576360
13/05/19 10:09 AM
13/05/19 10:09 AM
Joined: May 2008
Posts: 978
Spencers Wood, Berkshire
Hopwood Offline
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Hopwood  Offline
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Joined: May 2008
Posts: 978
Spencers Wood, Berkshire
Anything to do with mortgages I would run a mile...…...no reason to think that 2008 cannot happen again. Anyway, I was told that Bitcoin are all the rage (and I have stayed well away from them as well!).
Personally I would always recommend a well managed and diverse portfolio. Nothing is without risk. swear

Re: Peer to peer lending, anyone do this ? [Re: Hopwood] #576363
13/05/19 10:37 AM
13/05/19 10:37 AM
Joined: Aug 2008
Posts: 2,339
Powick
tmg513 Offline
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tmg513  Offline
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Joined: Aug 2008
Posts: 2,339
Powick
Originally Posted By Hopwood
Anything to do with mortgages I would run a mile...…...no reason to think that 2008 cannot happen again. Anyway, I was told that Bitcoin are all the rage (and I have stayed well away from them as well!).
Personally I would always recommend a well managed and diverse portfolio. Nothing is without risk. swear

Generally if you're told something is all the rage then you're too late.


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Re: Peer to peer lending, anyone do this ? [Re: Bonesie] #576415
13/05/19 06:28 PM
13/05/19 06:28 PM
Joined: Jan 2009
Posts: 4,776
howard Offline
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howard  Offline
Part of the Furniture

Joined: Jan 2009
Posts: 4,776
Originally Posted By Bonesie
Thinking of chucking a few quid in a peer to peer lending platform such as Funding Circle, the house crowd or similar ? Not vast amounts, couple of k.

Does anyone have any experiences with such things ?


Yes. I sent £10k off to Assetz half was invested in a 30 day cash account and half in a "great british business" account targetted at 7% interest.Every few days I get an email about "action required by lenders" which in most cases is a decision on what to do about a borrower who is behind or wants more etc. It reminds you that it isnt a bank account but pooled lending to borrowers who can go bust. Your money is at risk.

For the most part the borrowers seem to be property developers with a lot of Asian names amongst them. Lots of care home and the like.

I'm now down to just £2775 - as loans have been repaid I have taken money back out. I dont like the inflexibility of the system. I want to be able to get all my money when I want it but that isnt compatible with the higher interest rates you go there for.

Its not the answer to a maidens prayer. I have made 9.28% on my shares in the last year without high risk so why bother locking money up in peer to peer?

P.S. For those who say its a gamble - well I suppose it is but since its spread in small amounts to lots of customers the risk isnt that great. You could put it in a bank but that isnt a gamble - its an absolute certainty that in real terms you will lose money.

Last edited by howard; 13/05/19 06:32 PM.
Re: Peer to peer lending, anyone do this ? [Re: Bonesie] #576570
14/05/19 08:30 PM
14/05/19 08:30 PM
Joined: Sep 2011
Posts: 13,318
Mandello del Lario
Gambalunga Online content
Member of the Inner Circle
Gambalunga  Online Content
Member of the Inner Circle

Joined: Sep 2011
Posts: 13,318
Mandello del Lario
Originally Posted By Bonesie
Originally Posted By Gambalunga
I have invested in a lending fund in Australia which gives good rates.


Do you have a link please Peter ?

I'll send it to you by a PM.

The only reason I am in it is because my funds are in Australia having lived there until 16 years ago. You should be aware that if you invest in Australia you may have to pay income tax in Australia as well as in your country of residence. There is usually bilateral agreements to avoid the possibility of double taxation but you may need the advice of a tax agent in Australia.

There also seem to be various problems and obstacles set up to stop non-residents investing in various funds in Australia at the moment. I think they have tightened up because of new laws to stop money laundering and terrorist financing.

Right at the moment is a good time to invest in Australia for foreigners because the $AUD is very low because Australia has been caught in the backlash of the US China trade war.

Always seems to happen when I need to transfer some funds swear banghead juggle


Peter

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