Back in early 2017 my mate Phil wrote a couple of Guest Blogs about Peer-to-Peer (P2P) Lending which are very good as they describe in detail the ins and outs. Anyway, since then a lot has changed in the sector as it has matured and Phil has bashed out the following Guest Blog which updates where we are now. The original Blogs can be found at the Links below, and Big Thanks to Phil for providing this refresher,
Kindly Phil has written another P2P related Blog for us and again it includes some links to Special Deals where you can get a Discount and Phil and myself get a small slice as well. Please note these can be High Risk Investments and if in doubt you should consult with a qualified Financial Advisor - we make no recommendation with regards to suitability for you and we are not qualified or FCA regulated. If this is new to you then make sure you read Phil’s previous Guest Blog and you will find within that one some Lower Risk P2P Investments like Zopa and Ratesetter.
In my first article for Wheelie’s Website last month I wrote about the 'how's and ‘why's' of P2P (Peer to Peer), and if you're unfamiliar with the area it might be worth you reading my first article, paying particular attention to the risks involved:
Guest Blog - Peer To Peer Lending - worthy of consideration in an environment of low interest rates and rich stockmarket valuations?
My mate Phil Sloan has very kindly contributed the Guest Blog underneath to explain in simple terms to us all the Ins and Outs of Peer-to-Peer stuff. As he says in the text, he was looking for alternative forms of Income with Bonds and suchlike being such poor yielders and this drove him to do a huge amount of digging into P2P and we can now benefit from his endeavours.
If you have been following me on Twitter and partaking of the Website for some time you will know that I am pretty cautious on the whole P2P ‘thing’ with my main reservation being that most of the Providers sprung up after the 2008 Credit Crunch and we are yet to see how they will behave in a Recession and/or tougher times (having said that, I have just learnt from Phil‘s text that Zopa actually kicked off in 2005). For this reason, I would take the view that it is best to stick to the more well-known, established, names and in-depth research and investigation is essential. Of course it makes good sense also to limit exposure to this area and probably any more than 15-20% or so of a Portfolio might be taking on quite a bit of Risk - at least until you’re used to how it all works and after having more experience of how these things work over the business cycle. Phil has a good section on the Risk side of things and spreading things across Platforms etc.
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