My P2P investments as of 2 June 2019 are listed below:
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How it all started
My initial investment (made 20 January 2019) totalled £9,000; split across the following six different P2P lending platforms:
- Growth Street – £2,000 (£200 cashback claimed)
- Kuflink – £500 (£100 cashback claimed)
- Property Partner – £2,000 (£30 cashback claimed)
- RateSetter – £1,500 (£100 cashback claimed)
- Lending Works – £1,000 (£50 cashback claimed)
- Funding Circle – £2,000 (£50 cashback claimed)
I made sure that each investment was sufficient to take advantage of the cashback offers available at the time. Provided the platforms experience no issues, I will receive £530 cashback (5.9% of my investment) which partially offsets the associated investment risk and provides an excellent opportunity to earn boosted first year returns.
I have curated a full list of current P2P cashback offers – if you are going to invest, it is definitely worth taking advantage. Generally, most providers will credit this cashback to your account after a period of one year, though some offer earlier payment terms (e.g. Kuflink cashback is paid within 21 working days).
Growth Street is one of my favourite peer-to-peer investments. Funds are automatically diversified across the various working capital loans on the platform (and thus no substantial legwork is required) and has delivered consistent returns of 5.3% with no issues to note. I have left my initial investment of £2,000 untouched and am choosing to reinvest all interest. In normal conditions, cash should be accessible within 30 days.
Current investment = £2,063
I am also very happy with the performance of my Kuflink investment. I initially invested in individual bridging loans – each of these have since been fully repaid. I have now increased my investment, which is spread across individual bridging loans and a 3-year innovative finance ISA account. Returns of 6.0 to 7.0% consistently achieved with no issues to note so far.
Current investment = £2,424
I originally invested in an opportunistic fund launched by Property Partner, and then made a further investment in a singular development loan. After a few months, Property Partner changed its terms and introduced a tiered account management fee. For my relatively small investment, I felt that the fees were disproportionate. I opted to resell my investment at this point, making a £56 profit. Development loan bonds cannot be resold on the platform, so I intend to hold this to maturity before exiting the platform.
Current investment = £979
I’ve been very happy with the performance of my RateSetter investment thus far. It has delivered the returns promised whilst reselling investments to others appears to be quick and easy. RateSetter is one of the largest platforms and has reported profitability in periods where marketing expenditure to secure new customers has been scaled back. For this reason, I’m happy to leave this investment untouched.
Current investment = £1,018
Since investing in Lending Works, I have consistently received the 5.0% advertised interest with no issues. I was previously withdrawing interest and capital to avoid the previous selling fee, but Lending Works has now changed its terms to offer a ‘Flexible’ plan with no selling fee. As a result, I am now reinvesting all interest and capital repayments.
Current investment = £936
My Funding Circle investment has performed strongly to date (7.8% returns) though I am currently seeking to reduce my exposure due to increased selling time-frames which I believe may become the norm based on the current trend.
Current investment = £1,838
New P2P investments
Loanpad is a relatively new peer-to-peer lending platform, but one which I conceptually like and feel quite confident investing in. They offer investors exposure to the lower risk portion of bridging/development loans, with a lending partner taking on the higher risk position. I am reinvesting all interest within the ‘Premium’ account offering which pays 5.0% and offers access to cash within 60 days in normal market conditions.
Current investment = £2,004
My largest P2P investment is currently held with Assetz Capital, split across their 90 Day Access Account, Great British Business Account, and Property Secured Lending Account. I am invested via both standard and IFISA accounts and have been very pleased with the investment performance to date with an average rate of interest of 5.8%. I am reinvesting all interest at the moment, but will most likely withdraw the non-ISA funds once cashback has been received purely to reduce exposure.
Current investment = £4,662
I have a small £200 investment in Landbay, which I consider the lowest risk peer-to-peer investment platform. So far, the account has delivered the 3.5% returns promised with no issues. I intend to leave my investment untouched, with all interest reinvested.
Current investment = £203
I’m very happy with the performance of Unbolted so far – it has achieved c.7.0% interest rate to date with no issues. There’s no ability to resell investments but the loans tend to be relatively short term. As I prefer to focus my peer-to-peer investments in platforms where it’s possible to regain access to funds, I intend to leave my investment at the current level.
Current investment = £507