Peer to peer lending.

[Leedsbusdriver]

Has anybody used peer to peer lending websites to lend money? I have a few quid which isn't earning much in an ISA.So looking at a low to medium risk investment for the medium to long term.

 

[mjr]

Lend with care is another such scheme. I'd regard it as an alternative to bonds or shares, not an ISA, as I think there's a chance you lose money.

 

[Pro Tour Punditry]

If anyone's short of a bob or two I'd be happy to recommend you contact @rich p he's minted

 

[Pale Rider]

Has anybody used peer to peer lending websites to lend money? I have a few quid which isn't earning much in an ISA.So looking at a low to medium risk investment for the medium to long term.

How about a shares-linked ISA?

Good chance of better returns than an ordinary ISA, so it meets your 'low to medium' risk wish, and this one suggests five years, which could be described as medium term.

http://uk.virginmoney.com/virgin/isa/ftse/

 

[SpokeyDokey]

Has anybody used peer to peer lending websites to lend money? I have a few quid which isn't earning much in an ISA.So looking at a low to medium risk investment for the medium to long term.

It's not protected by the Gov' savings protection scheme so you are on your own if it all goes belly up.

 

[Leedsbusdriver]

It's not protected by the Gov' savings protection scheme so you are on your own if it all goes belly up.

It's my understanding that they are now regulated by the financial conduct authority.

 

[Leedsbusdriver]

How about a shares-linked ISA?

Good chance of better returns than an ordinary ISA, so it meets your 'low to medium' risk wish, and this one suggests five years, which could be described as medium term.

http://uk.virginmoney.com/virgin/isa/ftse/

Certainly an option, will have a better look when things have quietened down round here.

 

[srw]

It's my understanding that they are now regulated by the financial conduct authority.

Still not protected by the FSCS!

I wouldn't describe peer-to-peer lending, or equities, as "low to medium risk". If your target is preserving your capital, then you need to put up with bank accounts, or National Savings. If your target is growth over the long term (i.e. 10 years plus), then equities or property are probably the best bet, but carry the risk that you'll lose everything and aren't cheap to trade.

 

[ianrauk]

You're probably more concerned about returns than the feelgood factor, but you could ask @redfalo about Kiva.

There is a Cycle Chat group on Kiva

 

[pclay]

I lend money through Zopa. I have over £500 in there. Never had any problems over the last 12-18 months.

 

[SpokeyDokey]

It's my understanding that they are now regulated by the financial conduct authority.

@Leedsbusdriver

None of these appear to be protected by the Financial Services Compensation Scheme which is what the FCA links to on their website.

http://www.moneysupermarket.com/savings/peer-to-peer/

If I am wrong can you show me please as I would be very interested in any P2P schemes that are fully protected.

 

[vernon]

If I am wrong can you show me please as I would be very interested in any P2P schemes that are fully protected.

Show me a fully protected P2P scheme and I'll show you a scam.

Wanting a FSCS protected P2P scheme is as mutually exclusive having your cake and eating it.

 

[Leedsbusdriver]

@Leedsbusdriver

None of these appear to be protected by the Financial Services Compensation Scheme which is what the FCA links to on their website.

http://www.moneysupermarket.com/savings/peer-to-peer/

If I am wrong can you show me please as I would be very interested in any P2P schemes that are fully protected.

My mistake.Yes you are right,P2P's are not protected.I was confusing the FSCS with the FSA.

 

[SD1]

I have invested in Funding Circle the return was an annualised 9.4% but I was using credit card money (indirectly). So was only there for a short time. Presently investing for daughter same score 9.4% annualised. There is a £50 recommendation payment in there, so not quite that high. Funding circle recently changed to fixed interest instead of an interest rate auction, so cannot give a long term view anymore. Worth a look in. Basically spread your risk. There is supposed to be an isa option in the future.