Nomad
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Post by Nomad on Mar 17, 2020 16:31:44 GMT
Terms of the offer are yet to be added to their website.
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benaj
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Post by benaj on Mar 25, 2020 16:18:44 GMT
My observation after 6 months: - XIRR 12.16% (Range: 7.8%-12.16%), expect higher return from the latest 14% loans. - 35 loans invested, 35 loans repaid - 13 loans repaid with delayed interest (buyback) - 22 loans repaid on time. - Withdrawal time: within 1 working day - Plenty of PL & ES loans available on the platform, no cash drag. - No change of Deposit Fund account yet. - My active investment: 0
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Post by geldregiertdiewelt on Mar 30, 2020 14:26:23 GMT
> 60% of loans in my Lendermarket portfolio are now overdue; looks like "stash the cash" is also their game these days
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benaj
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Post by benaj on Mar 30, 2020 15:30:57 GMT
> 60% of loans in my Lendermarket portfolio are now overdue; looks like "stash the cash" is also their game these days During my testing with the platform, the delayed loans / arrears can be high. Maximum number of loans I held at any time was 10. XIRR ranges from 7.8% to 12.16%, it is below 10% for almost 4 month until the very end of my testing. Loan performance somehow is similar to Lime, where it seems LO is making bulk payment for a batch of loans.
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Nomad
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Post by Nomad on Apr 16, 2020 18:50:41 GMT
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Post by veganline on Feb 1, 2022 19:16:08 GMT
My observation after 6 months: - XIRR 12.16% (Range: 7.8%-12.16%), expect higher return from the latest 14% loans. Does anyone know what to google in order to find guides to calculating returns on spreadsheets? I can download the Lendermarket report as a spreadsheet. I have invested in bits, rather than just once. I'm used to Google Sheets and a bit of Libre Office Calc when feeling adventurous. Reason for asking is that Lendermarket returns are puzzling. I've invested in just the riskiest investments. www.lendermarket.com/summary has "15.1%" in big bold letters, but that's the amount asked-for, so far as I can tell. Underneath it says that half the investments are delayed; paying late, but not late enough for buy-back. www.lendermarket.com/summary shows delayed payments at a tenth of on-time payments, so not much. Suppose that half the accounts are late at any one time, contributing only a tenth, the return should be 7.505% + 0.75% = 8.25% ish The trouble is that I've invested bits over time, and newer loans default less than older loans, so these rules of thumb are probably wrong. Also, spreadsheets came-out after I left school and I teach myself rather slowly how to use them. So: back to the beginning: what should I google to learn how to use a spreadsheet like Libre Office of Google Sheets to calculate returns, as downloaded from www.lendermarket.com/statement "download report" ? Maybe I could ask Lendermarket this question but I am not sure how! Any help appreciated
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Post by Ace on Feb 1, 2022 20:01:32 GMT
My observation after 6 months: - XIRR 12.16% (Range: 7.8%-12.16%), expect higher return from the latest 14% loans. Does anyone know what to google in order to find guides to calculating returns on spreadsheets? I can download the Lendermarket report as a spreadsheet. I have invested in bits, rather than just once. I'm used to Google Sheets and a bit of Libre Office Calc when feeling adventurous. Reason for asking is that Lendermarket returns are puzzling. I've invested in just the riskiest investments. www.lendermarket.com/summary has "15.1%" in big bold letters, but that's the amount asked-for, so far as I can tell. Underneath it says that half the investments are delayed; paying late, but not late enough for buy-back. www.lendermarket.com/summary shows delayed payments at a tenth of on-time payments, so not much. Suppose that half the accounts are late at any one time, contributing only a tenth, the return should be 7.505% + 0.75% = 8.25% ish The trouble is that I've invested bits over time, and newer loans default less than older loans, so these rules of thumb are probably wrong. Also, spreadsheets came-out after I left school and I teach myself rather slowly how to use them. So: back to the beginning: what should I google to learn how to use a spreadsheet like Libre Office of Google Sheets to calculate returns, as downloaded from www.lendermarket.com/statement "download report" ? Maybe I could ask Lendermarket this question but I am not sure how! Any help appreciated To calculate the annualised return from a set of irregular payments in Google Sheets you use the XIRR formula. If you google Sheets and XIRR you will find some examples. I don't use Lendermarket, so I don't know what their "download report" looks like, but all you need is a set of dated payments into and out of the account and a present value.
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Post by wiseclerk on Feb 1, 2022 20:16:49 GMT
this should help on how to do it in Excel
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benaj
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Post by benaj on Feb 22, 2023 12:56:00 GMT
The trouble is that I've invested bits over time, and newer loans default less than older loans, so these rules of thumb are probably wrong. Also, spreadsheets came-out after I left school and I teach myself rather slowly how to use them. So: back to the beginning: what should I google to learn how to use a spreadsheet like Libre Office of Google Sheets to calculate returns, as downloaded from www.lendermarket.com/statement "download report" ? Maybe I could ask Lendermarket this question but I am not sure how! Any help appreciated Lendermarket report is a SINGLE column CSV file, so you need to Insert "DATA" from "Text / CSV" if you are using Excel. www.ablebits.com/office-addins-blog/converting-csv-excel-issues/Calculating XIRR needs two columns, date and transaction amount (negative for withdrawal and positive for deposit)
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Post by barneywol on Mar 11, 2023 12:01:02 GMT
LenderMarket CSV files actually use a semicolon as a column separator becuase the European standard is to use a comma for the decimal point. Excel *can* be configured to deal with that, but it is hard work, and a pain if you use other "English standard" CSV files. The easiest method, I find, is to drop their CSV files into a text editor and add the line: sep=; at the top. Excel will then use the semicolon (or anything else you specify) as the column separator.
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Post by veganline on Aug 23, 2023 20:05:54 GMT
2023: Are they making it hard to withdraw for other people as well?
At the moment I can't log-in to withdraw a very large amount of money. Their customer service warns against repeated emails and says they usually take up to 3 working days to reply. They have had five working days: no reply; no way to withdraw money. They have no phone number that I can find.
The way this began was a passport expiring. The site immediately treated me as someone without ID, even though I had invested a lot of money with them. When my new passport arrived, I though this would solve the problem, but no. Someone on their staff has set their Verify.me software to deny verifications from the UK, in my case at least. Worrying to find money un-withdrawable, five days' silence, and apparently game-like behaviour. Worrying to see Trustpilot reviews with similar less-detailed stories.
I hope they see this and ease the case.
If the worst happens I hope to find any class action or lawyer good at extracting money from them.
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benaj
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Post by benaj on Aug 24, 2023 6:59:06 GMT
I have no idea what’s the speed of processing withdrawal on Lendermarket. However, most surviving platforms do their KYC checks.
My last Mintos account verification took more than 5 weeks before releasing money to my bank account.
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Post by veganline on Aug 24, 2023 17:37:39 GMT
Good news! I got a reply asking for a utility bill.
Read alongside a few one star trustpilot reviews, this suggests payment with invented delays rather than default. Some of the Trustpilot 1* reviews may be misunderstandings or tactical, perhaps to advertise something. Their word "scam" doesn't apply, for me, the way I use the word, as this is a genuine business that has been running a few years but makes excuses to delay payment as a lot of businesses do when they're short of cash. Still a worry to anyone lending, but not as bad as lending to a confidence trickster or scammer.
There may be a reason why every UK customer is refused re-verification on verify-me , while the site says it still accepts UK customers and other sites do not need re-verification of passport ID. There may be a reason why they ask for a utility bill after a few days' wait by email. It would be weird, but there may be a reason!
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Post by veganline on Sept 16, 2023 14:34:56 GMT
Does anybody know what is happening at Lendermarket? [see the end of of this post for the answer: they had trouble with a post-brexit passport as ID but allowed withdrawal after a work-around after months]In their own words, after over a months' delay paying anything or allowing full logon: "I've withdrawn today all of your Available Funds - €10,192.04. I would expect this to reach your account today ...
This leaves the following balances:
Account value: 241 804.18 €
- Invested funds 100 363.28 €
- Available funds 0.00 €
- Pending payments 141 440.90 €"There is no sign of the €241,804.18 on the screen I'm allowed to see with a partial logon Diary of events uk.trustpilot.com/submitted/review?correlationid=034e889a-a5cd-42ed-9fdc-223b55b3b268John...... -------------------------------------------------------------------- Happy ending! From memory this is the story My UK passport expires and I immediately get blocked from most of my account by screens saying I am not yet identified. I get a new passport - a post brexit one - and try to register but the Verif.me software claims not to recognise UK ID, even though Lendermarket is still advertising for UK customers. After a pause for thought, the customer support staff ask if I have any EU ID - no - and verify me manually from a scanned water bill. They organise two manual payments over about 2 months. Very polite messages saying that this is being dealt with at the highest level etc. Then I get a long private link to Verif.me which I don't manage to use - maybe I got something wrong or let it time-out. Support questions go un-answered. After a month or so I go back through emails, spot the problem with the Verif.me link, and write to ask for help. I find the exact email of the support staff person who dealt with me before. He confirms that this is the problem, and sends me a new link. This time I am verified with my 2023 black UK passport and able to log-in enough to press "withdraw". Withdrawals work. This is now about 4 months since the first ID problem and a lot of money that could have been on auto-lend in that time was not, because, obviously, I wanted it out, but at least I am able to get big chunks of money as they become available. I was thinking of keeping some money in Lendermarket but can't find any auto-lend or lending screens. Maybe I no-longer have the kind of ID that they need for new investment, or maybe I have just been too much hassle as a customer, although they did thank me for politeness and patience. Either way, I can withdraw un-invested money now.
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benaj
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Post by benaj on Sept 16, 2023 18:11:33 GMT
Does anybody know what is happening at Lendermarket? Be patient, Mintos lenders had pending payments with Creditstar.
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