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Post by brokenbiscuits on Dec 10, 2018 12:37:00 GMT
I have a small amount in 65, 68 and 73 but no email offer. There was reference previously to having a week to reply, but you would expect if they are going to drip feed the offers through then it would be a week from the final offer.
With a 10% haircut i would probably take that just to see an end to this.
Has anyone lodged complaints with property moose? This isn’t what We signed up for or the company we signed up to.
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Post by brokenbiscuits on Nov 22, 2018 17:36:59 GMT
Overdue loans to interest paid is 18%. I would like to get it back, but seems I win even if I don’t.
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Post by brokenbiscuits on Aug 28, 2018 17:12:31 GMT
Used to invest a few years ago. Not really followed rates for some time but know they were closer to 5% when I was pulling out. 6.5 or so average back when I used to invest. looking at putting a little in to spread about my money a little more, as very heavy in the stock market as it stands. Consistently 6+ would be enough to pull me back in for a few grand.
Saying that, I can see 1 year market above 8% right now! What’s that all about? Is it always this “wobbly”?
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Post by brokenbiscuits on Jun 2, 2018 10:28:48 GMT
"I used to enjoy reading these forums but it’s so very complainy these days!"Of course it is. Around 18 months/2 years back, everything was fine n dandy. The biggest complaint was about bots snapping everything up in the sm! But this was when defaults didn't exist as the loan book was fairly immature, pretty much full of long dated loans. Even negative day loans were snapped up, as interest was paid - remarkable really looking back. I was in the 'buy anything and then pass on the parcel camp'. Clearly 12% was not going to be plain sailing.... All the complaining would make sense if lendy was the only p2p platform or p2p was the only form of investment available? There seem to be people that openly admit they have nothing invested in lendy, some like to even go so far as to brag about having nothing invested , but still turn up to clutter the boards with messages about how terrible lendy are. I have a little less than I used to but still buy a new loan if I like the credentials. But if I thought it was a terrible product I’d just move onto something I thought wasn’t terrible. A number of funds I hold are doing better than 12% and if you don’t sell on drops there is not as much chance of capital loss than in p2p. It’s likely that a number of people got into p2p to escape the perceived risk of the main alternative, the stock market, and instead bought into a load of other risk that they maybe hadn’t considered (but with more chance of capital loss it seems). A balanced approach is the answer. Reading about people who have all their money in p2p is alarming. I prefer to sleep well at night. A loss of every single penny I hold in peer to peer would be a blow to my ego but wouldn’t ruin me financially. It’s only a low percentage of the total pot. My advice for the masses would be Try to Make good informed choices. Move on if it’s not for you and don’t waste too much time hating on the internet. There’s much more effective ways of getting things done and much better uses of our time!
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Post by brokenbiscuits on Jun 1, 2018 17:47:07 GMT
There used to be two main crowds on this forum: 1, the due diligence ones who would buy and hold a select few 2, the ones who would play “pass the parcel” and sell down well before the loan got near zero days.
Dd used to mock the pass the parcel for their lack of insight quite regularly.
Assuming the DD crowd don’t have any lemons, having never picked them in the first place, and the pass the parcel crowd don’t either as they sold out sometime ago?
Now it’s mostly one main crowd. The everything is terrible at lendy crowd. So who was right? And who is holding the lemons?
Personally my strategy was to buy the ones I saw as decent after a bit of digging and then sell before they got old. Looking at the ones currently underperforming, I skipped most and was in a few for a short time only. Was it luck or judgement? We will never know!
I used to enjoy reading these forums but it’s so very complainy these days!
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Post by brokenbiscuits on Apr 19, 2018 16:33:36 GMT
Is that truly the definition of high net worth? More sophisticated? The more I have in the bank the more knowledgeable I become! Perhaps this is why when I spend my money on (and consume) a lot of booze i do silly things?
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Post by brokenbiscuits on Nov 8, 2017 12:38:55 GMT
Selling quite easily now. I’m back to holding no short date loans. I quite like this loan, but no reason to hold anymore now liquidity has improved.
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Post by brokenbiscuits on Nov 5, 2017 10:59:09 GMT
Would you be interested in a fixed fee investment? Yes. Would you be interested in a 3-5 year bond paying 6%? No. Please comment further? In principal I like the idea of a fixed fee no hassle approach, however, I see no benefit in halfing my returns while my money is invested in the same things I may have invested in at 12% manually along with a large amount I would have ignored and all locked in with zero liquidity.
Assume the answers above will add to the 46% in favour.
Bond mason is fairly popular because it invests over a number of platforms and spreads risk. They say they only pick the best loans from each platform. I understand they are suggesting returns of over 6%. So if bond mason offer a fixed fee (and no lock in for 3-5 years) that includes ‘the best’ lendy loans among ‘the best’ other platforms have to offer too for diversity, why would anyone choose a bond on lendy that pays a lower rate of return,locks up your money and doesn’t diversify compared to rival products?
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Post by brokenbiscuits on Oct 25, 2017 5:59:21 GMT
“Defaults mount”? I’ve been investing in p2p for 2.5 years across a few different platforms and to date the only “losses” ive suffered are the sell out charges at ratesetter.
What I have noticed is a massive increase in is platform bashing, mostly from posters who admit they no longer have anything with that platform?? But continue to turn up on a p2p forum just to tell certain platforms how terrible they are.
With a balanced portfolio and no stock market crash for quite a few years I wonder how painful a few defaults in p2p will look compared to a 40% loss in the stock market.
I’m happy to continue with p2p as a small percentage of my investments. I can continue to get way above inflation returns and if there’s any liquidity left in the p2p when the markets finally crash then I can use some of it to top up when everything is on sale.
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Post by brokenbiscuits on Sept 14, 2017 8:11:04 GMT
It seems to me, to make the "buy and dump" after cash back strategy be of benefit, you need to be sold up in a month or less after getting the cash back and need to be investing 10k or more as a bare minimum.
For Investments of £0.00 - £4,999.99 – 0.25% Cashback For Investments of £5,000.00 - £9,999.99 – 0.5% Cashback For Investments of £10,000.00 - £24,999.99 – 1.0% Cashback For Investments of £25,000.00 - £49,999.99 – 2.0% Cashback For Investments of £50,000.00 - £99,999.99 – 3.0% Cashback For Investments of £100,000.00 + – 4.0% Cashback
12% interest a year or 1% a month if you hold. Reduced to 0.8% or 0.6% interest a month after tax.
So if you invest 10k and manage to get it out in a month or under, you could have made an extra £20 than if you just invested in something at the same rate you were prepared to hold. Big numbers for little extra bonus considering the liquidity and default risk of potentially being locked in a loan you didn't want to hold.
Or as a previous poster said in much fewer words, not worth the effort. (Of trying to game the system)
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Post by brokenbiscuits on Sept 13, 2017 11:55:07 GMT
Cheers,
Makes the cash back offers look less appealing. Luckily I just put what I wanted and not top loaded. Looks like others have asked for much more than they truly wanted.
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Post by brokenbiscuits on Sept 13, 2017 11:29:58 GMT
Hello all,
Could someone tell me collateral's position on interest for loan parts that are queued on the secondary market?
Does interest accrue as normal or do you receive no interest as long as it's up for sale, but still in your possession?
Thanks
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Post by brokenbiscuits on Aug 9, 2017 19:09:07 GMT
collateral is one of my preferred sites, but thinking of reducing investments because of website performance. last week or so has not been great for me. no issues with any other sites performance, so not my pc/phone
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Post by brokenbiscuits on Jul 20, 2017 17:14:45 GMT
I personally hold my selected loans to term & it's a strategy that has worked for me. Others may 'flip' their loans at sometime during the loan period. I don't understand why someone would buy a loan at 30 days or less & take the exposure. You think that the loan is a higher risk the closer to term but still hold your loans to term, knowing someone will likely buy if you list it? Seems odd to recognise risk along with a way to mitigate that risk and then do nothing. I buy loans I'm happy to hold but have never once to date been in a loan at term.
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Post by brokenbiscuits on Jul 19, 2017 9:16:34 GMT
Slightly off topic and not in the least directed specifically at Lendy, but I am absolutely convinced that all this KYC stuff, that is required by the regulators, has contributed enormously to the incidence of identity theft. The vast amount of verified personal information that has to be supplied to any and all financial service providers that one conducts business with cannot possibly be held totally secure in all cases. This is my concern. Another platform has done all the know your customer checks. I've invested and now I want to withdraw some money they want me to send a copy of a bank statement with my name on it to prove the account is mine. Never had this anywhere else and they won't tell me directly why it's needed other than 'we take our anti money laundering obligations very seriously' Is this normal/reasonable? At least lendy are not taking it to this extra level.
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