kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Nov 10, 2016 17:17:22 GMT
Well good luck with that. Perhaps there is something to be said for just stuffing it under the mattress.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Nov 10, 2016 22:45:34 GMT
Ignoring profits required to cover the tax I've paid, I'm now only £60 from getting my initial 1k back. The interesting thing to see will be whether once that initial cash has been "refunded" they start actually making payments to the account I requested/verified, instead of my original debit card..
|
|
|
Post by bonfemme on Nov 11, 2016 14:09:52 GMT
I put every loan part up for sale (that was eligible) yesterday morning and have sold £400+ so far. Quite surprised really as I only have £1200 invested. It seems there is a pattern that the parts that are selling are those bought on the secondary market when trying to reach the £1000 target. The primary market purchases (highest interest rates) don't seem to be so liquid. Could the system be manipulated to prevent the higher rate parts from selling, so boosting the average rates on offer for new buyers. Anyone else noticed this?
|
|
adrianc
Member of DD Central
Posts: 8,970
Likes: 4,801
|
Post by adrianc on Nov 11, 2016 14:38:31 GMT
I put every loan part up for sale (that was eligible) yesterday morning and have sold £400+ so far. Quite surprised really as I only have £1200 invested. It seems there is a pattern that the parts that are selling are those bought on the secondary market when trying to reach the £1000 target. The primary market purchases (highest interest rates) don't seem to be so liquid. Could the system be manipulated to prevent the higher rate parts from selling, so boosting the average rates on offer for new buyers. Anyone else noticed this? Not every loan has much SM availability. I bet the ones you sold have relatively low availability, the ones you're left with have thousands.
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Nov 12, 2016 11:23:58 GMT
My solitary sale this week was a minimal part with the highest interest rate and £30k on the LE - I think it's just luck how the algorithm picks what to fulfil a buy request - and there's certainly some calculation going on because sometimes you can get a quick quote, and for others it can be repeatably delayed.
Has anyone got back (or realistically expecting) more than they put in + bonuses? ie. an actual +ve investment return?
|
|
|
Post by hartshay on Nov 18, 2016 0:29:48 GMT
I invested a 'sampler' of 1K to check out the platform. I have had a net return of 250 quid on that in year 1 averaging around 10% interest from about 30 loans.... But I have been very picky as to which ones. Only one loan part in default .. and that is only for 20 quid. So if nothing is recovered on that I am still well ahead for the year. Probably will probably let these loans run down, re-investing monies in loans that appear attractive. Lending crowd are only a tiny element in my p2p investments but it is useful for diversification.
|
|
awk
Posts: 275
Likes: 146
|
Post by awk on Nov 18, 2016 7:45:50 GMT
I invested a 'sampler' of 1K to check out the platform. I have had a net return of 250 quid on that in year 1 averaging around 10% interest from about 30 loans.... But I have been very picky as to which ones. Only one loan part in default .. and that is only for 20 quid. So if nothing is recovered on that I am still well ahead for the year. Probably will probably let these loans run down, re-investing monies in loans that appear attractive. Lending crowd are only a tiny element in my p2p investments but it is useful for diversification. Hi @hartshay You've done very well if you've just had the one "default" and none are either "in-arrears" or "disabled". Like many people, I had three go south within a few weeks of each other earlier in the year. As far as I can tell, LC have only ever formally "defaulted" one loan, but I think there are now about five others in arrears or significantly late and disabled.
|
|
|
Post by hartshay on Nov 18, 2016 18:59:57 GMT
You are probably right I have done well so far ... but these same loans are high risk and you take your chances with them even if they do have a good proposition. Problem for me with LC is the secondary market and its lack of transparency. Time will tell ...
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Nov 21, 2016 8:54:27 GMT
Hurrah - I have now withdrawn £1000.76 !! Next goal... enough to pay the tax....
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Dec 1, 2016 13:57:00 GMT
The interesting thing to see will be whether once that initial cash has been "refunded" they start actually making payments to the account I requested/verified, instead of my original debit card.. Nope - looks like they're still continuing to refund it to my debit card had 2 or 3 withdrawals now that definitely shouldn't have been refunds any more(have now withdrawn all the original 1k and enough to pay all the tax to date, so am now slowly clawing back the bonuses)
|
|
min
Member of DD Central
Posts: 603
Likes: 170
|
Post by min on Dec 2, 2016 10:31:49 GMT
At Last! £1605 in and £1621.07 out. A grand profit of £16.07. Just another £166 still stuck in 10 loans but £97 in ones marked 'in arrears' which should say 'defaulted' Doesn't look like a great rate of return.
|
|
awk
Posts: 275
Likes: 146
|
Post by awk on Dec 2, 2016 11:30:56 GMT
I'm now up to £1123 returned, with a few bits of shrapnel still to collect and 3 loans still "available" for sale - and not shifting.
If I assume that I eventually get these 3 loans paid out but write off the defaulted loans, then I should hit about £1180. Which isn't a bad return overall, but only just clears the bonus !
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Dec 2, 2016 11:50:32 GMT
The interesting thing to see will be whether once that initial cash has been "refunded" they start actually making payments to the account I requested/verified, instead of my original debit card.. Nope - looks like they're still continuing to refund it to my debit card had 2 or 3 withdrawals now that definitely shouldn't have been refunds any more(have now withdrawn all the original 1k and enough to pay all the tax to date, so am now slowly clawing back the bonuses) Oooh I tell a lie - the withdrawal I requested yesterday has gone to my bank account rather than my debit card. Same day faster payment too !!
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Dec 9, 2016 18:12:30 GMT
Back from a 6 week jolly, not having bothered looking at my account for the last month, I'm pleasantly surprised to have just been able to bring the total extracted up to £867. More than I expected ............ not exactly speedy, but getting there.
|
|
trias
New Member
Posts: 5
|
Post by trias on Dec 13, 2016 11:28:43 GMT
Hello! I've been reading these forums for a while but never posted. When I've seen the defaulted/blocked loans on LC, and seen that a few users here decided to withdraw their money from the platform, I decided to do the same. I've put them all on the market after my anniversary date of the bonus (approx 2 month ago). I had initially put £1100, and received a bonus of £150 (bonus + referral), so £1250 invested over a year resulted in approx £1400 total. And I can happily say that I've been able to extract my initial £1100, and my current summary says: Available: 127.40 | invested 179.85 | Loan losses 76.08 So worst case scenario, I've made 11.5% over my initial investment over 14 months Best case scenario I can get to ~28% (which sounds crazy, and also unlikely, as that money is mostly in the disabled loans) Maybe it was beginner's luck Edit: I've not counted any taxes! (actually I'm not 100% sure how to, aren't they directly included?)
|
|