littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 26, 2016 9:22:55 GMT
Has anyone got a theory to account for this drop? Also seen on Octopus Choice. I know there has been a slight drop in rates generally but not of this magnitude. Has some new lender appeared offering lower rates?
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upland
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Post by upland on Nov 26, 2016 9:48:16 GMT
Has anyone got a theory to account for this drop? Also seen on Octopus Choice. I know there has been a slight drop in rates generally but not of this magnitude. Has some new lender appeared offering lower rates? Interesting , with Octopus I assumed that they couldnt satisfy demand and thats why its as low it is and there is a queue. But I would have thought that LI was a much bigger operation - perhaps I am wrong. I skipped the last %5.25 offering on LI , one can do better elsewhere. Its not long ago that Octopus were offering that with 'instant' access.
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pom
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Post by pom on Nov 26, 2016 19:22:46 GMT
In fairness I think LI have always had some loans at rates this low....there just now seems to be a bit of a dearth of those with higher rates I did miss one since the website change that I would normally have gone for given a chance, however that is the ONLY one I recall that would have tempted me, don't think I've actually managed any new investments since the change and my overall amount invested is now on a downward trend whereas previously there were more I might have fancied than I needed. Hey ho...
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Nov 26, 2016 21:00:33 GMT
My theory littleoldlady is they are looking float. Just my theory but the squeaky clean approach (lower rates, fewer defaults and no real information provided to us on problems) all looks to me like they are going towards this.
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Post by marc77 on Nov 30, 2016 17:02:56 GMT
There is a new listing today, for L****n Lane for 5.5%, where the rate being charged to the borrower is 14.4%. If LI really are going to float gibmike, I want a piece of them! But for now, it's time to wind down what I have with them...
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Steerpike
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Post by Steerpike on Nov 30, 2016 17:06:19 GMT
I suspect that they can fill the loans at these rates and so they do.
The only button that I have pressed since the new website was launched is the one marked Withdraw.
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rxdav
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Post by rxdav on Nov 30, 2016 17:29:37 GMT
I would love to be able to press the 'withdraw' button on loan KT22 - which is now heading for it's third extension and there seems no end in sight to this depressing situation.
Sadly, I fear it will end badly and the default that will likely be called eventually is only delaying the pain. You don't have to research to any great extent to discover that houses in this price bracket are simply not selling. Should the housing market become further depressed (quite possible) it will only cause the eventual recovery to be less than it would be if the nettle was grasped now.
All being well I will be 100% out of LI by mid April (if there were a secondary market it would be today - yesterday actually!).
There are now so many better platforms out there now which make LI's interest rates (payable to lenders that is - if not LI) look something of a joke.
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rxdav
Member of DD Central
Posts: 354
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Post by rxdav on Nov 30, 2016 17:30:54 GMT
I would love to be able to press the 'withdraw' button on loan KT22 - which is now heading for it's third extension and there seems no end in sight to this depressing situation.
Sadly, I fear it will end badly and the reluctance to call the default now, that will likely be called eventually, is only delaying the pain. You don't have to research to any great extent to discover that houses in this price bracket are simply not selling. Should the housing market become further depressed (quite possible) it will only cause the eventual recovery to be less than it would be if the nettle was grasped now.
All being well I will be 100% out of LI by mid April (if there were a secondary market it would be today - yesterday actually!).
There are now so many better platforms out there now which make LI's interest rates (payable to lenders that is - if not LI) look something of a joke.
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rxdav
Member of DD Central
Posts: 354
Likes: 349
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Post by rxdav on Nov 30, 2016 17:49:12 GMT
I would love to be able to press the 'withdraw' button on loan KT22 - which is now heading for it's third extension and there seems no end in sight to this depressing situation.
Sadly, I fear it will end badly and the reluctance to call the default now, that will likely be called eventually, is only delaying the pain. You don't have to research to any great extent to discover that houses in this price bracket are simply not selling. Should the high end housing market become further depressed (quite possible) it will only cause the eventual recovery to be less than it would be if the nettle was grasped now.
All being well I will be 100% out of LI by mid April (if there were a secondary market it would be today - yesterday actually!).
There are now so many better platforms out there now which make LI's interest rates (payable to lenders that is - if not LI) look something of a joke.
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upland
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Post by upland on Nov 30, 2016 18:03:26 GMT
Loans appearing thick and fast now. Unfortunately half of them are quite low in the 5s % . Still six of them now available.
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Steerpike
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Post by Steerpike on Nov 30, 2016 18:33:09 GMT
7% at 75% LTV and insufficient data to determine if this is a "safe" 75%?
They still can't be bothered to show the LTV applicable to each tranch when there are two tranches.
I can't be bothered to invest.
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Steerpike
Member of DD Central
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Post by Steerpike on Nov 30, 2016 18:43:15 GMT
I would love to be able to press the 'withdraw' button on loan KT22 - which is now heading for it's third extension and there seems no end in sight to this depressing situation.
Sadly, I fear it will end badly and the default that will likely be called eventually is only delaying the pain. You don't have to research to any great extent to discover that houses in this price bracket are simply not selling. Should the housing market become further depressed (quite possible) it will only cause the eventual recovery to be less than it would be if the nettle was grasped now.
All being well I will be 100% out of LI by mid April (if there were a secondary market it would be today - yesterday actually!).
There are now so many better platforms out there now which make LI's interest rates (payable to lenders that is - if not LI) look something of a joke. Our old friend Katie Tutu, was going to stay for six months but now it has been nearly a year, I expect another 3-6 month extension some time in the next two weeks. I suppose 1-2 years to sell 2 £3-4m houses is not too surprising in the current market. Looks like the price was reduced on one of them in July, and the other in October but apparently still no movement, total for the 2 is now £6.2m compared with the £6.65m used for the 75% LTV calculation, bringing the current LTV to 80%.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Nov 30, 2016 20:44:56 GMT
I keep saying to myself that LendInvest is my "safe P2P" with about 30% of my P2P money but as people keep saying, the rates are now 1 to 1.5 percentage points lower than in say March/April/May.
I cannot tie down this amount of cash to a platform which in theory will be returning nearly half of what my others are returning (9-12% for 50-75% LTV).
By March/April I might be down to 15/20% at this rate,
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upland
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Post by upland on Dec 2, 2016 11:47:10 GMT
Another %5 er loan.
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Post by slumberingaccountant on Dec 3, 2016 15:34:22 GMT
Ive turned off auto invest. It was worth it for the regular 7% loans that it got, but after so many in the 5-5.5% range ive had enough. I certainly wont be putting in any more at these rates.
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