My name is Andy and I have used P2P Investments for the last year or so after realising that cash in the bank (apart from an emergency fund) is just an opportunity wasted! Interest rates now a days are not worth chasing and this makes growing your pot almost impossible.
Through my father and brother I was introduced into P2P as somewhere to park a bit of spare cash at a higher rate of return than I would have got in any of my savings accounts, this is where the journey began. I soon found my self researching various other platforms looking for the one that offered the best returns for the amount of risk it posed.
Over a year in now I have had my hands burnt once or twice but I have now tested out quite a few different peer to peer platforms and hope to share some reviews and tips with my readers.
Outside of P2P I love spending time with my beautiful family, diy, working my day job and my main hobby of treasure hunting and metal detecting!
Hello Andy
ReplyDeleteYour experience largely mirrors my own. I too started out with Ratesetter, tried Zopa, got my fingers burnt with Funding Circle and especially Rebuilding Society (although that said I never actually lost money overall), and then discovered Saving Stream, followed by Ablrate and Moneything. More recently Collateral and Funding Secure. It continues to sadden me that the so called financial 'experts' continue to ignore P2P usually with the excuse that it's too risky whilst at the same time happily promoting investments in Bonds and the Stock Market where in my experience the risk/reward ration is nowhere near at good as with P2P. Just roll on IFISA and the offerings will be even more attractive.
I couldn't agree more with you my friend. P2P seems to be such a niche market at the minute and many of the old time stocks and shares investors seem to cast it off as some kind of fad.
DeleteI have also dabbled on funding circle but didn't really like the setup
Regards
Looking forward to you posting more about your experiences with P2P Andy. Is it going well?
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