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Post by nesako on May 5, 2017 8:28:10 GMT
Lenndy was the first platform of "this type" in Lithuania where rights to the loans pre-funded by a different providers were sold as opposed to the platform itself issuing loans and crowdfunding cash. Quite possibly, due to this difference, they could not get the status of the crowdfunding lender and hence the move to Latvia, to join the rest of the gang... Let's wait for the official press statement which is due to come out soon.
In terms of the move, not much really changes, the only worry is that now all EUR P2P platforms I use are registered in Latvia, meaning that if new regulations arrive, some platforms may struggle to adapt and either big changes will come (I can smell the massive reduction in interest rates already due to possible increases to costs etc.) and some may cease trading all together... Only time will tell!
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Post by nesako on May 4, 2017 18:21:08 GMT
"UAB Lenndy" is officially moving all dealings to Latvia, creating "SIA Lenndy" equivalent:
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Post by nesako on May 4, 2017 8:02:33 GMT
3 buybacks triggered today on schedule (end of the day on +30). It's a bit annoying that they just show up as paid on my statement and nothing to distinguish them as bought back. It will be difficult to work out % of buybacks as you have to cross reference with the loan listings. % of current loans still around 45% with rest late. Buyback seems to be manual process for them. My loan went to -31/15 yesterday, i.e. delayed buyback by 1 day. Today it shows as 47/15 Closed. So 32 days delay before BuyBack kicked in, but it still did...
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Post by nesako on May 3, 2017 15:49:43 GMT
I'd like to give Growth Street a try too.
Would somebody like to send me a referral link please? I have sent you the link, but I do not have much luck at all being first, that other person(s), is always beating me to it lol
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Post by nesako on May 2, 2017 15:06:23 GMT
As long as you have £1000 in the account, even if it is not invested and sitting as cash.. it is fine Mine once sat unmatched for a week, I then cancelled the order and created a new order, and the bonus countdown continues to go down. You do get a warning on Sellout option saying make sure that you still leave £1000 after this sale to qualify for the bonus.
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Post by nesako on May 2, 2017 8:43:42 GMT
I hope what they mean is original loan period + 30 days, since FAQ's and Terms on website clearly state 30 days. But even then, the longest loan I have is 21 days, so 21 + 30 would be 51 days max wait... Yes that is what I take it to mean 60 days from the date of loan issue. The borrower can extend the loan by 30 days apparently but that does not affect the buyback for investors that is between the borrower and Robocash. My first possible buyback is on the 14th of May so will see what happens. I have one loan which has a term of -30/15 as of today, meaning it should be bought back tomorrow. Will let you know what happens...
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Post by nesako on Apr 29, 2017 11:03:04 GMT
I have added couple of hundred of new money in to see what will happen after 15 days once these new loans are supposed to pay back, at the moment all my "Current" loans are brand new, so cannot be included to stats... will report back in 2 weeks. In general, seems like way over half of all loans get delayed, pretty much would be a disastrous money loss if RoboCash one day just stopped BuyBack offer. If it was not part of the strong group of companies, I would be probably already winding down... Have you kindly some informations about which is the company that consolidate the group? I would like to search some balance informations. Check the post on the first page (22nd feb), there is a list of companies included in the group. I do not think there is a 'parent' company as such for all, just all of them are run by the same person.
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Post by nesako on Apr 29, 2017 9:13:19 GMT
I wrote to support a few days ago and was told that buyback kicks in after 60 days. So far none of my loans have reached that figure. The percentage of my loans 1-15 and 16-30 days overdue is about the same as Twino. I hope what they mean is original loan period + 30 days, since FAQ's and Terms on website clearly state 30 days. But even then, the longest loan I have is 21 days, so 21 + 30 would be 51 days max wait...
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Post by nesako on Apr 28, 2017 8:17:40 GMT
I have added couple of hundred of new money in to see what will happen after 15 days once these new loans are supposed to pay back, at the moment all my "Current" loans are brand new, so cannot be included to stats... will report back in 2 weeks. In general, seems like way over half of all loans get delayed, pretty much would be a disastrous money loss if RoboCash one day just stopped BuyBack offer. If it was not part of the strong group of companies, I would be probably already winding down...
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Post by nesako on Apr 28, 2017 7:05:34 GMT
I loved current concept... I already have too many other platforms which require maintenance This sounds like RateSetter II to me...
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Post by nesako on Apr 27, 2017 21:20:32 GMT
This is a risk rating given as a personal opinion by one individual, you really should do your own risk analysis... Please can you tell me what evidence you have that 4thway's risk ratings are just one persons opinions. If so I would be very interested in this evidence I have used this site to help make P2P lending decisions, so far I cannot fault the information given on this site and it concurs with other sources that I use. An extract from the website What are the 4thWay PLUS Ratings and 4thWay Risk Scores?
The 4thWay PLUS Ratings are calculated to tell you whether you could expect to lose money during a very severe recession, and how long you might expect to take to recover from those losses, after accounting for the interest you’ve earned and any protections offered by the online lending platforms, such as reserve funds set aside to pay expected bad debts.
The 4thWay PLUS Ratings were created by a senior credit specialist partner at one of the major accountancy firms, a senior quantitative risk modeller (i.e. someone who helps banks improve their lending) and experienced investors.
The 4thWay® Risk Scores look solely at the risk side, i.e. at the scale of potential losses in a very severe recession, but unlike the PLUS Ratings they don’t factor in the interest you might earn.
Both the ratings and the risk scores assume that you spread your money across lots of loans, using multiple peer-to-peer lending platforms to do so if necessary. The 4thWay PLUS Ratings are indicators, not guarantees or promises, so please don’t use them without supplementary research.
There is a lot more information on ratings which can be found on www.4thway.co.uk/about-the-4thway-risk-ratings/OK, I will be corrected that these ratings are a collation of multiple peoples personal opinions as opposed to single persons, but it does not change the fact that this is information is for guidance only and you still have to do your own research. This is all from their website as well, stating just that: The information in the 4thWay® website is journalism that is for information purposes only and opinions are just that; they are not personalised recommendations so please do your own further research. 4thWay® makes no representation or warranty as to the completeness or accuracy of the information contained in the website. The information on the 4thWay® website may be withdrawn or changed at any time without notice. The information on the 4thWay® website should not be deemed to constitute investment advice and should not be relied on as the basis for a decision to enter into a transaction. Lenders/investors should consult their own advisers before entering into any P2P lending transaction. 4thWay® accepts no liability for any losses or consequential loss incurred by lenders/investors acting upon any information on the website.
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Post by nesako on Apr 27, 2017 14:35:59 GMT
Given the recent goings on with the PF and defaulted loans I personally think Assetz and Landbay are safer than RS but if you check the 4thway risk scores RS are 4, Assetz are 5 and Landbay are 2, the lower the score the less the risk. Does anyone know of other sites that rate P2P risk? This is a risk rating given as a personal opinion by one individual, you really should do your own risk analysis...
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Post by nesako on Apr 27, 2017 14:03:46 GMT
It is badly worded, but "volume-weighted" part kind us says that they take all loans of different percentages and sizes given out to SME's in last 30 days, and then calculate the average based on the same common size. So, if I give 1000 loan @ 10% and another 500 loan @ 5%, volume weighted average @ 500 basis would be (10 + 10 + 5) / 3 = 8.33%
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Post by nesako on Apr 27, 2017 13:08:07 GMT
I would not assume that people selecting Priority rate are dragging down loan rates offered to Businesses by Growth Street. It could be down to any of these reasons: - Growth Street want to be move competitive, hence recent loan rates offered to Businesses have been reduced, meaning this has been passed to investors as well
- Because of all the new "exciting" hiring, expansion plans etc. etc. they have lifted their margin to cover increase in costs
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Post by nesako on Apr 27, 2017 8:34:07 GMT
Does anyone know if the referral promotion is still on? If so could you send me a link? TVM Yes and sent Referrals will only be eligible to earn the bonus if the Referred Investor completes their sign-up before 1 May 2017 This keeps getting extended though, so high chance it will happen again.
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