Vote for preferred P2P lending platform 2017

November 21st, 2017
P2P Independent Forum

There is still 2 weeks to go to vote for your preferred P2P lending platform!

The P2P money website is running another vote for the favourite peer-to-peer lending platform in 2017.  The winners of the vote in 2016 were MoneyThing, Saving Stream (now Lendy) and Assetz Capital.

As in previous years, we are running this vote on the P2P Independent Forum.  We chose the P2P Independent Forum as has the most experienced and knowledgeable peer-to-peer lenders anywhere, and therefore this award will carry some weight.

The poll will close at 6pm on the 1st December when the results will be announced.  The winners will receive a engraved trophy to add to their awards cabinets.

Latest cashback offers October 2017

October 17th, 2017

Over the last month we have seen a change in the peer-to-peer cashback offers available.  With Funding Circle pulling its cashback offer, RateSetter remains the only one of the big three to have an active cashback offer.  Technically Zopa still has a cashback offer but they are not accepting new lenders currently.

Zopa cashback

RateSetter, which obtained full authorisation from the FCA yesterday, changed its cashback offer in October from £50 cashback for investing £1000 to £100 cashback for investing £5000 within 30 days of opening an account.  They also set a sunset date for this offer as 11th April 2018.

The latest cashback offers include £25 with InvestUP and €55 with Flender.  There are a number of cashback offers for a smaller initial investment of £1000, including £50 with Landbay, £50 with Lending Works and £50 with Lendy.  For new lenders wanting to try out peer-to-peer lending there is £25 cashback with Rebuildingsociety just for signing up and verifying your identity.

It is important to remember that peer-to-peer lending isn't saving and your capital is at risk.  Terms and conditions apply to each of the aformentioned offers.

Flender convertible loan note cashback

October 3rd, 2017
Flender

Following Flender's successful launch in Ireland they are raising £2m for their launch in the UK.

Flender have put in place a €300,000 convertible loan with 12% interest rate and 20% discount on the conversion.  They are offering an opportunity to participate in the convertible loan note to their existing investors and larger lenders on our platform.

€150,000 of this loan note has been reserved for their existing equity investors and they are offering €150,000 to their customers.  In addition Flender are opening this to up to investors through the P2P money cashback website, where they will also earn €55 in cashback!  The minimum investment amount to participate in the loan note campaign is €5,000.

Investors should act fast as it is anticipated that this will fill quickly.

Experienced lenders exit Funding Circle

September 22nd, 2017
Funding Circle

Funding Circle has now withdrawn its manual lending (and selling) options and repaced these with a market model where lenders can only choose the risk, rather then the actual borrowers.  Unsurprisingly this has generated numerours discussion on the P2P Independent Forum, and a recent poll indicated that 45% of lenders who took part had suspended their lending, with a further 25% stating they had already exited the platform.  On a more positove note 30% of lenders were either continuing with their Funding Circle lending, or returning to the platform.  All of those lenders stated they would be selecting the "Balanced" risk bank at an estimated retirn of 7.5% AER, with none of them selecting the "Conservative" risk band with an estimated return of 4.8% AER.

Below is a flavour of the general comments:

I am winding down.  I spent the last few weeks selling off my more dubious parts and replacing them quite cheaply with better quality material, but as my portfolio repays I feel I can neither re-invest repayments nor invest new money because AutoBid will simply undo that good work.

Also, I have strong doubts about the claimed 7.5%.  I have had such a rash of defaults over the last month and late payments during the last week that I am left rather disillusioned.  Had this last week been more problem-free, I would probably have felt better and plonked a bit more cash in at the end.  But a new late loan 6 days out of 7 rather spoils the flavour.

Introducing Robo.cash

September 20th, 2017
Robo.cash

The P2P market is undergoing significant growth at the moment and becoming an attractive investment tool that helps to diversify a portfolio of an experienced investor. Despite the great number of different P2P-lending platforms which appeared in previous years, there are new noteworthy platforms which started its work in 2017 too. Among them is Robo.cash working in a fully automated mode.

Robo.cash started its work in the market of the alternative finance in February 2017. Being registered in the Latvian commercial register, at the moment the platform works within the frames of the European Union. It attracts loans from Spain, Russia, and Kazakhstan via affiliated companies representing one financial holding founded by entrepreneur Sergey Sedov in 2010. In a quite short period of time of its work, SIA ROBOCASH has become a member of the Latvian Startup Association ‘Snartin.lv’ and the Alternative Financial Services Association of Latvia (LAFPA) and directly participates in the development of FinTechs and peer-to-peer technologies in Latvia.

The most distinguishing features of Robo.cash is the AI serving to save time of investors and making the investment process easy and comfortable. It is based on the ‘peer 2 portfolio’ model meaning that one lends money not to a single individuum but invests in the portfolio of the holding that distributes assets within its group of companies specialized in PDL and Installment loans. From an investor’s point of view, it means minimum participation in the investment process and needs one to choose the preferred strategy of investments in the platform.

There are three options available. The first is to keep money at the portfolio balance serving to move funds to the investor balance where you can create a new portfolio with different settings or withdraw money to a bank account. The second is the automatic payout of invested money with received interests straight to the bank account. The third is the reinvest that is to be preferred if an investor wishes to get the most of the Robo.cash opportunities. The function serves to keep the money always at work and earn more in a shorter period of time.

Among additional features to be mentioned is the partial investment called “Invest partly” which means bundling of investments into one loan to minimize risks of each investor. A small hint: keep it turned on to take the full advantage of the platform. The function has been made optional as there are investors who prefer to be the sole owner of a loan.

The second important thing about the platform Robo.cash is 100% buyback guarantee. As the companies of the financial holding provide only short-term loans with an average due date in 18 days and the buyback coming after 30 days, an investor gets a high turnover of assets and can freely manage the money. To be considered too is one of the highest interest rates provided in the market in comparison to other P2P-lending platforms leading in the UK market - up to 14% per annum in average. Robo.cash has no secondary market.

Among the other important points about the platform is the absence of fees charged no matter whether you invest or withdraw funds. There are no extra payments for the services or an account usage, Robo.cash covers the expenses by itself. Registration for private individuals and legal entities is absolutely free of charge.

It was already said that the platform operates within the EU frameworks so it takes Euro. As for the currency conversion, it completely depends on an investor as Robo.cash provides no exchange. As for taxation, Robo.cash doesn’t withhold any taxes from an investor. Subsequently, an investor's income is a subject to tax in accordance with the legislation of his or her country. However, the platform provides investors with account statements that can be made on the website in standard or advanced forms for the chosen periods.

To sum up, the platform leaves quite a positive impression. The Robot completely fulfils its claimed functions making an investor free from boring tasks taking time. The great idea that investments can be easy, comfortable and take little time means a few simple steps to be made by an investor:

- register at the platform;

- invest funds;

- set the parameters of the portfolio;

- earn money.

And it will not even take you to open the account daily as Robo.cash has introduced mailing of daily reports recently that is quite convenient when you are away. From that point of view, despite a short period of work in the P2P-market, Robo.cash offers a rather good option to diversify a portfolio and is worthy of your attention.

Article written by Robo.cash