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Peer to Peer Lending

  • 12-08-2015 4:36pm
    #1
    Kung Lao
    Closed Accounts Posts: 50 ✭✭


    Hey so I've just scratched the surface on researching this, but peer to peer lending seems to be quite a big business in the US and the UK. From what I can tell, there are two operators in Ireland in this space, Linked Finance and Grid Finance.

    It would appear to be a decent investment for someone with a couple of grand to spare as opposed to leaving it in the bank. Average returns are 7% to 10% or even higher depending on the level of risk you're prepared to take on. The Irish operators appear to be well organised and well run, they screen all applicants thoroughly and default rates are less than 1%. They recommend that as an example, if you have €1,000 to lend, that you would lend €100 to 10 different projects thereby spreading your risk.

    Has anyone tried this and how did they get on? Or does anyone have a view on this type of "investment" in general? I think its probably much lower risk than one would expect at first glance.


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