We love hearing more about our lenders, their stories and what attracted them to invest in peer to peer lending. In this Q&A session we caught up with John, a semi-retired consultant and project director working for a US multi-national in Hong Kong. With a family home near York, which he plans to fully retire to in the next couple of years, we asked John more about his experiences with peer to peer lending and how important investments are to him.
What first attracted you to invest in peer-to-peer lending?
I wanted to invest a percentage of my portfolio in a safe, non-volatile income vehicle to protect from any stock / bond market crashes. Savings accounts offered too little interest, and bonds are sure to crash one day soon!
How long have you been investing in peer-to-peer?
Since July 2014. My wife also opened her own Landbay account this year.
How important are investments to you in the current stage of your life?
Absolutely vital. I have a good UK ‘final salary’ pension which funds our lifestyle but I need to invest our capital to produce a good return for the education of our 11 year old twin boys, and to enjoy long-haul holidays. We like to return to Asia as often as we can as we spent 25 years of our lives there.
What financial goals are you looking to achieve from your investment?
A stable return on a percentage of our overall portfolio to cover any market downturns.
How do you find peer to peer investing versus more traditional savings?
It’s a no brainer! The percentage returns are much higher with only very slight additional risk. Cutting out the 'middle man’ is the way of the future. I certainly won’t be investing in banks.
When choosing a peer-to-peer platform to lend on, what are the important things that you look for?
That the investments are backed by real assets, so if the economy collapses, there is a good chance of getting our funds back.
Why did you choose to invest with Landbay?
Initially, I liked the idea that investments were secured against mortgages. But after I joined, the great management team and personal, friendly, helpful service are what convinced me to keep investing further funds and also open a second account for my wife.