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I recently signed up with rate-setter with an introductory offer they had plus referred my partner. A fairly good payback of 250 for 2000 deposited plus some interest on the loans. I've been adding in a bit of spare cash each month to the various markets they have rolling, 1 year and 5 year. Interest rates are all over the place but actually found setting my own in the rolling market didn't take too long to get a match, but was only a marginal increase.

Does anyone else use any of P2P platforms?  Any tips for a nooby to maximise earnings/interest?

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Everything is pointing to a downturn in the economy becoming noticeable over the next 12 months (possibly less) -- they've had a good run, but p2p wouldn't look like a good place to have money in that scenario.

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8 minutes ago, dgul said:

Everything is pointing to a downturn in the economy becoming noticeable over the next 12 months (possibly less) -- they've had a good run, but p2p wouldn't look like a good place to have money in that scenario.

Oh, I don't disagree with that one bit. The post isn't regarding what could/may happen in the next however many years though. There's a pretty good thread going on in the other part of the forum for that.

I have some spare cash and I'm happy to put a percentage of that in various riskier places than a cash savings account, one of them being p2p ergo the thread.

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I am invested in 7 or 8 different p2p providers all with very different ways of working. If you have any specific questions about any, just ask. FYI Ratesetter is one of the 'Big 3'. The other 2 being Zopa and fundingcircle. The scale of their operations are significantly bigger than others, of which there are now dozens. I consider Ratesetter a reliable platform and have been with them almost 8 years without gripe. Would recommend.

Look here for more information: http://p2pindependentforum.com/

Edited by desertorchid

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I have used Funding circle and Zopa since 2012. My lifetime return on both of them is about 6% after fees and 'bad debts'.

I have cut my exposure on Funding Circle because they became stupid a few years ago. I am no longer adding money and withdrawing any interest.

You used to be able to choose which businesses you could invest in, but now you cannot. There was a lot of A+ related cash and carries that defaulted yet continued to trade under a new ltd company. This annoys me immensely as these will now be automatically invested into, even if you only choose a 'conservative' risk profile.

Some of the rates are awful now. They advertise to businesses that rates can be as low as 1.9% and their fee is 1%!

Edited by reformed nice guy
added

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2 hours ago, desertorchid said:

I am invested in 7 or 8 different p2p providers all with very different ways of working. If you have any specific questions about any, just ask. FYI Ratesetter is one of the 'Big 3'. The other 2 being Zopa and fundingcircle. The scale of their operations are significantly bigger than others, of which there are now dozens. I consider Ratesetter a reliable platform and have been with them almost 8 years without gripe. Would recommend.

Look here for more information: http://p2pindependentforum.com/

Thanks for the link, will give me some check it out in detail tonight.

Do you have any recommendations/strategies with Ratesetter on maxmising the interest rates and reinvestment?

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