Whilst I know all investments serve risks (high and low) and the higher the risk, the more projected gross profit you'll get (if s**t doesn't hit the fan).
After changing the gym from my current 3 year est. to pure gym and saved £290 a year, and made MANY changes and currently saving £1,000 a year (shocking i know). With that in mind, I know that money makes money and I looked into p2p loans which from projecting from 7% per annum and others projecting up to 16%, dependent on how quickly your chosen client pays back their loan.
Most don't offer the fscs protection plan, but have their own buffer zones and protection for your money, so you don't entirely lose out. Balances it out slightly in my mind, but still slight uncertainty.
Does anyone here have experience investing in them, and will they work for you in the long run (if played right)?
Hi @joshythehipster I'm not sure where you seeing 7%-16% pa but they sound like high risk loans.
I'm dabbling with Ratesetter at the moment and their 1 year rate hovers between 3-5%. They don't offer FSCS protection either but they seem to have a good rep so I feel my money is fairly safe with them as part of my limited portolio. Having said that I won't invest more than I can writeoff comfortably.
Finally Ratesetter are currently offering a £100 bonus if you invest £1k+ for 365 days (so that's at least a 10% rate for 1 year) https://www.ratesetter.com/100-for-1000-terms
but Ratesetter has been great for me: nice yields, quick withdrawal from rolling market.
Do you only invest in the Rolling Market then?
Have you heard about the forthcoming change in Feb which appears to only pay out on the Rolling Market at the end of the loans' terms?! https://www.ratesetter.com/blog/article/managing-supply-and-demand