Property Moose announced last week that they are suspending their secondary market at the end of the month, February 28th.
Assetz Capital, one of the UK’s largest P2P lending platforms with over £400 million lent out, have launched their IF ISA (Innovative Finance ISA). They are giving access to the same investment products offered to non-ISA accounts:
You can now invest in all of our automatic accounts tax-free, with investment into the Manual Lending Account (MLA) using your ISA allowance available in Q1 2018.
Crowd for Angels offer investors up to 12% returns in their crowd-bonds. If you’ve invested with MoneyThing, you’ll notice a popular car-finance borrower who is also listed on Crowd for Angels at the same 12% rate of return. They also offer equity shares in new companies with SEIS and EIS tax relief.
After I saw the release of their Innovative Finance ISA, I got in touch with the team for a short Q&A, but have only just got around to putting it onto P2P blog! Read more “Crowd For Angels IF ISA Factsheet”
One of the things that put me off investing in Euro-based P2P lending platforms like Twino or Mintos were the high costs to try them out. Many banks charge transfer fees of £12+. Yes, there are low-cost transfer services like Transferwise, but most European P2P platforms need your first transfer from a bank account to satisfy KYC (know your customer) checks.
After being recommended Revolut from some commentators on a previous post, I stumbled upon a excellent way to transfer money to Euro accounts. This allows almost fee-free transfers to European P2P sites! Read more “Free Euro Transfers with Revolut”
P2P-Banking and El Espanol have broken worrying news over the past couple of days. Comunitae, a large European peer to business lending platform, have detected internal fraud and are suspending activity – probably shutting down.
Comunitae is Spain’s largest P2P lender, and one of the largest Euro-SME lending platforms. Founded in 2008, they’ve raised over €3.5 million in external funding (for platform development). Data from Altfi shows an all time lend of around 45 million euros, 9 million of which was in the year to date.
At the start of November, Comunitae sent out a letter to its investors explaining that they had interally detected fraud affecting 18 guarantors. El Espanol explains that their own risk analyst was complicit in a form of payment fraud with various businesses. Comunitae state in their investor email that there are now criminal proceedings against the employee in question. Read more “Trouble at Spain’s Largest P2P Lender”
LandlordInvest offer secured lending investments in BTL mortgages or property bridging loans, paying up to 12% gross. LandlordInvest are now authorised directly by the FCA (not as an Authorised Representative), allowing them to offer the Innovative Finance ISA. Since I haven’t invested with them myself, I asked LandlordInvest to answer a Q&A to provide a basic understanding of their offering for P2P Blog.
Key Facts (General):
Expected Returns: 5-12% per annum.
Historic Returns: Platform completed its first loan in February 2017
When did you launch?: 5 December 2016. Our property-backed IFISA was launched 25 January 2017
Key Facts (IF ISA):
Minimum Investment to open ISA: £100
Minimum Investment per loan/investment: £100
IF ISA Fees: No specific IFISA fees, including for ISA Transfers In or Out
Is it a ‘Flexible’ ISA? Yes, our property-backed IFISA is flexible
Do you allow transfers in from existing ISAs?: Yes
Types of Investments: Loans secured by residential or commercial mortgages (buy-to-let and bridging loans).
A Background to LandlordInvest
How did it all begin: what is the background to the platform?
The company was founded by financial services and IT professionals. Two of the co-founders, Filip and Nik, met whilst working for a UHNW family with significant global real estate assets. Whilst working togehther, they spent months discussing various business ideas and decided that they wanted pursue a entrepreneurial path by founding a secured P2P lending platform, as they spotted an opportunity in the market given banks reluctance to lend. They were later joined by the third co-founder, Joe Vallender, LandlordInvest’s CTO.
What makes you different from the other options for P2P Investor’s money?
- Fully FCA authorised
- All loans are secured by property
- Flexible IFISA
- No pre-funding
Is there any sort of Provision Fund/ Insurance against bad debt?
We do not operate a provision fund or have any insurance against bad debt. All loans are secured by property.
Is there an Early Sell out option or Secondary Market?
We do not operate a dedicated secondary market. It is scheduled to become available end of April/beginning of May this year. We currently charge an administration fee corresponding to 0.5% of the total outstanding principal value, provided that we are able to find a buyer for that loan or loan part.
Automated Investment: How easy is it for Investors to maintain their Investment?
Investors have to choose themselves which loan(s) they want to invest in. We do not make any recommendations or offer any tools for automatic allocation.
What plans have you for the future?
Our plan it is to continue to build an investor base, and establish our own niche in an industry that is becoming quite saturated. Our aim is to offer the best risk adjusted returns in the industry.
Kuflink are a P2P lending platform which offer investments in UK property development deals. What makes them different is that they invest up to 20% into each loan on a first-loss basis, reducing the risk to investors. Note that this maximum of 20% just applies to the ‘self select’ (manual investing) loans, with only 5% on the automated investment product. Investments are between 6 and 12 months, and offer up to around 7.2% gross (i.e. if there are no defaults). They’ve now funded over £9 million in investments via their platform.
Article last update 10th Feb 2019 with the latest Cashback offer details and Secondary Market addition.
Apologies: this is not related to P2P, but I want to post it as I am constantly sharing with friends/ family and thought it would be easier to write down for once! It may come in handy if you are planning a foreign break to escape the colder months.
These are my (now well practised) steps to get the best discounts on hotels:
Property Partner have broken the UK record for a property crowdfund with their latest student property development. The development: 65 student blocks in Newcastle is expected to yield 6.13% after all costs and fees. To put the size of this deal into context, I took data from their latest open house (September 2017). Read more “Property Partner Crowdfund ~£3m Development, breaking UK Record”