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Post by Financial Thing on Oct 31, 2019 15:47:42 GMT
In light of what has happened with COL, LDY & FS, it's understandable why investors are cautious. If I've learned anything from investing in through Lendy, it's to pay close attention to the experience and moral character of the company founders.
I've met with Louis (Loanpad CEO) a few times. He's always been very transparent and forthcoming about Loanpad and his borrowing partner Handf. He understands than no p2p company is immune to failure and he understands risk better than most p2p CEO's I've met. I believe Louis is working to reduce lender risk as much as possible.
Louis has an extensive legal background, having worked on his partner borrowers loans for several years prior to Loanpad. Because of this, he understands his borrower's operations in great detail. Personally, I'm very comfortable with Loanpad.
On a personal note, I like Louis and feel he cares about Loanpad's investors. If you have concerns or queries, I'd suggest having a chat with him.
Just my 2p worth.
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Post by Financial Thing on Sept 13, 2019 3:21:28 GMT
I have a meeting scheduled with some of the Ratesetter powers that be Wednesday Sept 18th.
I'll be asking for clarification about how the legacy products will work (and for how long), how the matching queue will operate, how the manual ratesetting will work (what happens if one cancels unmatched money in the new products etc.) and why they changed the products.
I'm happy to present any additional questions for you. Just send me a message sooner rather than later.
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Post by Financial Thing on May 17, 2019 15:22:10 GMT
FYI just received this from a Minto's rep dated May 16, 2019: "Unfortunately, at this moment we cannot accept investors from the United Kingdom. We are in the process of obtaining necessary permissions to offer our service to investors from the UK. When all legal and regulatory permissions are obtained, we will be happy to welcome new investors from the UK on Mintos." Presumably existing UK investors are still OK ? Or I wonder if there'll be a restriction on adding more? Reinvestment is still working anyway. Yes, only applies to new UK investors. Existing one's can still invest.
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Post by Financial Thing on May 16, 2019 16:12:55 GMT
FYI just received this from a Minto's rep dated May 16, 2019:
"Unfortunately, at this moment we cannot accept investors from the United Kingdom. We are in the process of obtaining necessary permissions to offer our service to investors from the UK. When all legal and regulatory permissions are obtained, we will be happy to welcome new investors from the UK on Mintos."
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Post by Financial Thing on Apr 25, 2019 15:24:01 GMT
Updated fee estimate cost approaching £1m.
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Loanpad (LP)
Loanpad
Mar 12, 2019 15:21:26 GMT
Post by Financial Thing on Mar 12, 2019 15:21:26 GMT
Loanpad What date did you open your doors? How many loans do you have to date? Can you name your lending partner? Can you tell us something about them and their history and how do they source their loans? My video might be helpful in answering some of your questions: www.financialthing.com/get-to-know-loanpad/
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Post by Financial Thing on Mar 5, 2019 21:09:02 GMT
maybe you've just bought the new coffee maker Sometimes its better to listen to the lenders rather than people who promote propaganda for the benefit of the p2p site. Totally agree. I have my own money invested through Octopus Choice
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Post by Financial Thing on Feb 15, 2019 14:57:20 GMT
I've traveled to London to meet with Louis at Loanpad a couple of times. I've learned about the platform, its offerings and the borrower. I invested some money and have been pleased so far. Here's a video with my thoughts plus a tutorial showing how to use the website. www.financialthing.com/get-to-know-loanpad/I'm interested to know how you conclude "It’s early days but I believe Loanpad is a good offering if you want a lower risk peer to peer lending product" given your earlier comment "New peer to peer lending company so no track record" Hi CB... I think this is a fair question that's answered in my video but I'll explain my reasoning. I've met with Louis twice over the last year and have been in communication with other members of the team. Louis has shown me Loanpad's business model and how the company can be profitable in a shorter amount of time than most other p2p co's. I like the fact that Loanpad doesn't underwrite loans and I think this is a key cost reduction in p2p companies being able to thrive and become profitable. Louis's has extensive legal experience (he's a lawyer) through which he has worked on many of his loan sources loans over 12+ years (300 deals). Loanpad's loan source has 40+ years family lending experience and I like their conservative approach to not biting off more than they can chew. Plus they invest 25%+ of their own money into each loan. The source only lends to smaller developments they could manage if a default were to occur. Plus Loanpad has the senior tranche over the loan source. Couple that with the loan source's the skin in the game, providing the valuations are accurate, all the above factors lead me to believe Loanpad is offering a solid, lower risk p2p product that I'm willing to put some of my own money into. All new peer to peer companies have to start somewhere and there's risk being an early adopter. But so far I like what I see.
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Post by Financial Thing on Feb 15, 2019 13:48:33 GMT
I've traveled to London to meet with Louis at Loanpad a couple of times. I've learned about the platform, its offerings and the borrower. I invested some money and have been pleased so far. Here's a video with my thoughts plus a tutorial showing how to use the website. www.financialthing.com/get-to-know-loanpad/
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Post by Financial Thing on Jan 23, 2019 14:46:58 GMT
I was paid.
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Post by Financial Thing on Jan 9, 2019 16:51:21 GMT
Many good reasons to invest through OC. What impressed me most was their operation. They have substantial financial backing as they are a part of the Octopus Group which is a substantial company with businesses in tech development, financial fund management, healthcare and electricity. They also operated profitably for the 2018 tax year. Watch my video tour of their office or better yet, go and visit them. While interest rates are important, I think solely looking at interest rates is shortsighted. Diversification is key. Ask us Collateral investors. Lenders only care about the returns on their investment. It does not matter how swanky their offices are. In regards to the size of the business are you saying octopus group will guarantee the investments made by the lenders of their p2p division ? If not it is irrelevant. Also i am curious have any investors lost any money investing with oc at the amazing rate of 4% ? I can't speak for all lenders but many investors I know care about capital preservation and diversification. Octopus Group does not guarantee anything, nor does any investment company. Octopus Choice invests their own capital into each loan. Swanky offices aren't important but I've been to p2p companies who are operating in a small basement room and I know where I feel more comfortable parking my money. 4% isn't breaking any return awards, but financial stability means everything. OC % spreads between borrower and lender are transparent and aren't high. I think investing at lower rates for stability as part of a diversified portfolio is very sensible.
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Post by Financial Thing on Jan 7, 2019 16:26:42 GMT
4% interest on oc ? I can get 5% or more on ratesetter and 6.5% on lending works on their 5 year and they have provision funds. Why should i invest with octopus at 4% ? Even growth street offers 5% ! Many good reasons to invest through OC. What impressed me most was their operation. They have substantial financial backing as they are a part of the Octopus Group which is a substantial company with businesses in tech development, financial fund management, healthcare and electricity. They also operated profitably for the 2018 tax year. Watch my video tour of their office or better yet, go and visit them. While interest rates are important, I think solely looking at interest rates is shortsighted. Diversification is key. Ask us Collateral investors.
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Post by Financial Thing on Jan 7, 2019 16:09:38 GMT
2018 Company accounts are posted here. £27.4m pre-tax / £21.5m post-tax loss The link is not actually working for me just getting a server error on 4 attempts since it was posted on 2 different devices. This XML file does not appear to have any style information associated with it. The document tree is shown below. <Error> <Code>AccessDenied</Code> <Message>Request has expired</Message> <X-Amz-Expires>60</X-Amz-Expires> <Expires>2019-01-04T00:15:34Z</Expires> <ServerTime>2019-01-05T09:23:22Z</ServerTime> <RequestId>3F2E7F8DD32CFC54</RequestId> <HostId> d1LRLOGSOOETc34h5WIadre5dVQ/wGlYDTBM9KHTgDmZSl7IJJj5zJTOi059ECFSZfFaLdrKgA4= </HostId> </Error>Thanks for letting me know. Link updated above
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Post by Financial Thing on Jan 4, 2019 0:36:07 GMT
2018 Company accounts are posted here. £27.4m pre-tax / £21.5m post-tax loss
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Post by Financial Thing on Dec 21, 2018 16:10:27 GMT
All investors in Collateral should have just received an email from BDO today containing a Lenders Resolution letter. I strongly encourage all investors to reply positively to this email as soon as possible. I am sure there will be plenty of questions surrounding this communication but please be aware that it is necessary due to the content of Collateral's original terms and conditions. Obtaining a sufficient amount of responses will be highly beneficial to Investors and allow BDO to take appropriate recovery action when required. If the Joint Administrators do not receive a positive response from a sufficient majority of investors, it will be necessary for them to make a court application as a prelude to enforcement action. Any court application will add additional cost and delay to the enforcement process, most likely resulting in a slower and reduced return of funds to investors. If you happen to be in contact with any other investors who don't frequent these forums, it would be great if you could also please reach out to them and encourage them to respond also. It is VERY important that people don't just ignore this communication and instead respond positively to BDO's request. Happy to send out an email to my readers. Give them a good old Christmas prodding.
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