RateSetter

[Roy]

I've got a few quid in RateSetter and it's giving me a good return (6%). but I've noticed recently that more and more borrowers are paying back their loans early (as they have the right to).

Well, not so good for the lender but is this a sign of something else?

Are people becoming sensible, more aware of the consequence of debt?

Do people have more disposable income than before?

Increased confidence in the economy? Or something else?

It's getting tough to get a good return on your investments nowadays, huh? 

[HighlandTiger]

Why settle for 6% on ratesetter where you have very little if any security if they fail to pay up, when you can get 12% on Saving Stream, where loans are secured on property?.

I wouldn't give ratesetter a first look let alone a second look when it comes to making money through P2P loans

[Roy]

Fair point, but RateSetter is only one of the many platforms I am using, of which Saving Stream is another.

[NUNKEST]

Are these platforms open to not UK residents?

[HighlandTiger]

saving stream is

[jayboat]

I opened accounts for me and the wife then put £1000 into each a few months back to receive the £100 bonus. I got 4.3% on the 1 year market and will earn 14.3% for the first year on both accounts, i'll then withdraw from both accounts and reinvest somewhere else.

Very easy website to use and set up. 

[Roy]

Thanks for the tip jayboat,

I just did the same myself 

 

[KDave]

The website says the current market rate for 1 year is 3.3% - 13.3% for 1 year on £1000 investment is still very good and I am tempted. May I ask how are you achieving 6%/4.3% what am I missing?

 

[Roy]

Dave, the rates are low today. Keep an eye on them. The offer is valid for a month so you can take your time, 6% on 5 yr and 4% on 1 yr is common.

[KDave]

Ah right thanks Roy, will do just that.

[Roy]

It's all new to me too. I've been with ratesetter for a while but didn't know about the promotion.

I'm averaging 6% on 5yr and 5% on 3yr. Add in the £100 bonus and it's all good.

[jayboat]

3 year is very low at the minute. 

Im a bonus whore. You could always refer the wife for an extra £50, but i didnt read the terms about that. Maybe another loophole to take advantage of

[KDave]

For anyone else waiting for the lending rates to rise, this historic chart may be useful for reference;

https://www.ratesetter.com/aboutus/statistics#RateTrends

[KDave]

Rates on the 5 year are up 0.2% today but the amount of money on offer for 3.3% is growing. I expect 3.2% soon. I will check again next week.

[Roy]

Very poor allocations on saving stream today?

12% and 27%