Choice Blog - The Secret Investor's Diary

Peer-to-peer lending with The Secret Investor

P2P Lending Platform News Round-up (28th July 2016)

Last post: Jul 29, 2016

Troubled times ahead? The Secret Investor takes a hit with 3 of his Funding Circle loans defaulting in the past fortnight meanwhile Ratesetter announce they expect a 24% increase in bad debt – they still expect their Provision Fund to cover these losses so long as they get the expected levels of repayments… both Funding Circle and FundingSecure have introduced procedures that will ensure investors start earning interest sooner when they commit to a loan.

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P2P Lending Platform News Round-up (14th July 2016)

Last post: Jul 15, 2016

The FCA have announced a post-implementation review of the rules they have introduced since they began regulating P2P Lending two years ago. Hopefully no additional measures will be required which could delay platforms being able to offer IFISAs… Milestones have been reached for ReBuildingSociety and LendingWorks who have passed the £10 million and £30 million lent marks respectively

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P2P Lending Platform News Round-up (30th June 2016)

Last post: Jul 7, 2016

Since the outcome of the EU Referendum was announced, many of the major P2P sites have emailed investors to offer reassurance that Brexit will not affect their operations but who can say for certain? Meanwhile FundingKnight have entered administration only to be “rescued” by GLi Finance – the institutional investor that abandoned the platform in February.

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P2P Lending Platform News Round-up (9th June 2016)

Last post: Jun 9, 2016

3 months after the introduction of the IFISAs, the major platforms have not had authorisation from the FCA to offer the tax free savings product… Assetz Capital reveal that their investors have only lost 0.31% of their capital thanks to the platform’s secure lending policies.

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Pitfalls of Funding Secure Secondary Market

Last post: Jun 9, 2016

Enticed by rates of return well into the teens, the Secret Investor has been making purchases on Funding Secure’s Secondary Market. What he failed to realise was how HMRC rules would see his tax obligations gobble up most of his profits and put him at risk of making a loss with regards to these particular loans.

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Totals lent to date (26th May 2016)

Last post: May 26, 2016

Invest & Co list 3 month bridging loans that return 21%... FundingSecure recover one of The Secret Investor’s defaulted loans in 6 weeks... Assetz Capital’s 30 day access account attracts £5 Million in first 3 weeks of availability.

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