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Post by d_saver on Jun 1, 2017 18:21:27 GMT
Thought I'd run my first poll  Please do answer as honestly as possible. I am interested to see what people here think, and I realise the very fact we are here may colour the results a bit. What do you think? Will you 'refer a friend' to Lendy, in good conscience? |
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micky
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Post by micky on Jun 1, 2017 18:54:17 GMT
My vote was yes, but with a health warning and by making sure that they read relevant parts of this forum. It is at their own risk if they invest.
I introduced a friend to SS about a year ago and received 30p for my troubles, as his first cautious investment was £30... not really worth it from a financial point of view. However, he now receives approx £100 a month interest to supplement his pension and is happy making his own decisions now.
I have also invested 10K for a relative as he had plenty of disposable but was really cautious with my selection of loans.
I've learned a lesson though and now refrain from sharing, as I fear the consequences of such comments as 'I only invested because you advised me to'
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star dust
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Post by star dust on Jun 1, 2017 19:23:33 GMT
Actually I have never ‘referred’ any friend's or even family to P2P for any kind of referral ‘bonus’ or financial incentive, and I’m very unlikely to ever do that. If they approached me and asked me for one that might be different. I’m more than happy to discuss and explain my experience of P2P, and even point them to various Platform’s, but I always try to emphasise the risks and the down-side’s, and also explain how much time and effort is/could be involved. To my knowledge no one I’ve discussed P2P with has actually invested in it yet, and I think the main reason might be the time commitment involved, coupled with ‘unknown’ risks. Perhaps that’s not so much of a surprise as I don’t really mix in financial circles (apart from this one  ), and I don’t think P2P is really appealing or apposite for the ‘masses’ yet. |
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Post by martin44 on Jun 1, 2017 19:40:50 GMT
Certainly, i have recommended 3 friends to lendy so far, they all know the risks and the in's and outs of how lendy's p2p works, we keep in touch with regards to lendy's offerings on a regular basis (weekly) and poo poo them on a regular basis (daily) |
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Post by Deleted on Jun 1, 2017 20:42:52 GMT
Well at least they recognise that they have a problem in the balance between supply and demand
Even if this does feel a bit like treating the symptom rather than the cause
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stevio
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Post by stevio on Jun 1, 2017 20:56:56 GMT
There is a reason why only financial advisors can give advice
Refer a friend schemes bypasses these rules
So there is no standard level of information needed to be given prior to referral
I have only spoken to those I would consider sophisticated investors and also deliberately not answered all their questions and told them to do their own research
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Post by lendinglawyer on Jun 1, 2017 22:31:41 GMT
I've never formally referred anyone. But I have told them about Lendy, and various other P2P sites, and explained my experiences etc because these sites can be quite daunting from the outside. Similarly to how I got into it in the first place by a family member showing me the ropes and me researching from there. I have no idea if any of those I've spoken to have invested or not because I'm not in the business of prying into their financial affairs.
Not strictly on topic, but have Lendy cut down on advertising? A month or two back it felt like everywhere I looked online there was a Lendy banner. Now, none. Admittedly some of those were probably (poorly) targeted ads (given I was an existing investor) but it must have an impact on new investor figures, not having the name out there quite so much I mean. Lendy was certainly the most prevalent advertiser of what I will call the "12%" club. Now none of them seem to advertise.
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bababill
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Post by bababill on Jun 1, 2017 22:43:50 GMT
I would refer my ex-wife if I had one.
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mosaic
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Post by mosaic on Jun 1, 2017 23:21:46 GMT
When my existing wife is Ex, I will refer her
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Post by df on Jun 2, 2017 0:52:30 GMT
It is good to see some evidence that Lendy is recognising the issue, but I doubt this scheme will be effective unless they restore lender's confidence. Before anything else, they should clear default backlog and stop offering the rates that are not worth the risk... I think they are trying to address the problem from the wrong end.
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trevor
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Post by trevor on Jun 2, 2017 10:23:18 GMT
The person who I referred would have to absolutely convince me they knew what risks they were taking with their cash before I referred them. I would feel v bad if I referred them then they lost money or the platform went bust. Therefore I answered unlikely.
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), and I don’t think P2P is really appealing or apposite for the ‘masses’ yet.
