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Post by dualinvestor on Nov 3, 2017 11:19:28 GMT
Hi, over 400 responses so far. Interesting that the views in this thread are very much in the minority. Lendy Support Oh hi Lendy Support. Nice of you to pop up to promote the new product rather than answer the various support queries which are posted on this forum/submitted to you through other channels. Who exactly do you "support"? Many thanks. PS I can totally see this product will appeal to some, but the risks in it are surely very high. Extraordinary rapid response, probably 10% of active investors in less than an hour. Most businesses would be highly envious of such rapid take up 
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Post by Lendy Support on Nov 3, 2017 11:20:58 GMT
Hi lendinglawyer, thanks for your message. We feel it will appeal to some, as we get a lot of requests for auto-invest style products. But we'll gauge all the feedback and provide an update in a future weekly roundup. In the meantime, do DM us, or contact us via the Help Centre, and we'll look into your outstanding queries. Regards Lendy Support |
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invester
P2P Blogger
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Post by invester on Nov 3, 2017 11:24:55 GMT
Given the number of active investors, a 10% reply on a weekday working day within an hour of the loan smells like one of your valuations!
It seems also rather silly to weight all investors equally. Correct me if I’m wrong but I do remember inferring there are a substantial number of members that have little or no investments.
If this is a product aimed at them then you should really segregate people but the poll appears to have gone out to everyone.
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copacetic
Member of DD Central
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Post by copacetic on Nov 3, 2017 11:38:00 GMT
Your current product was good but lost it's way offering lower rates and riskier loans using valuations that are questionable. If I had more confidence in the accuracy of valuations I'd be more inclined to increase my holdings in the current product. I would not be inclined to invest blindly until my confidence was rebuilt in securities on the current loan book.
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TonyL
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Post by TonyL on Nov 3, 2017 11:39:18 GMT
It appears that Lendy's understanding of their own growth potential is flawed. Investing is all about confidence. If the confidence disappears then so do the investors and their money. So I do understand that if 6% were guaranteed then there would be huge interest. But if investors had full confidence in Lendy's ability to look after their money, not get conned by rogue borrowers and fight hard to get quick rectification when things don't go according to plan then there is a ton more money and investors out there who would get on board with the existing model. You'd only be considering a new product if you can't get enough money into the existing loans, and generally that's not the case here...and when it is the case, that's down to losing confidence in Lendy's abilities. It sounds like 6% is just an easy way to lower everyone's expectations for the same product. I think it's an unnecessary distraction and I'm not in favour.
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dermot
Member of DD Central
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Post by dermot on Nov 3, 2017 11:54:32 GMT
Haven't done the survey yet, a bit too early for strong drink, which is my usual companion for doing surveys.
Assetz make it abundantly clear that regulatory restrictions mean their provision fund has to be discretionary, rather than all encompassing, on their pooled accounts. I wonder how Ly would structure it?
Surprisingly, I got a couple hundred into Assetz 7% GBBA recently, but 5.5% is now the norm for their pooled account. Most new loans originating there range from 5.5% to maybe 8.5% these days, so not much wiggle room.
I wonder where Ly will pitch their offering in terms of balancing returns v security/provision?
I might be tempted to dip a toe in the water for pooled bridging loans on a maximum 50% LTV, but DFL based on some 70+% fairy story future valuation is too many steps too far.
After all, 5 years is a long time in P2P ....
Hmm, anyone collected stats on the number of simple bridging loans that went pear-shaped v development one's?
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dermot
Member of DD Central
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Post by dermot on Nov 3, 2017 12:03:44 GMT
I'd need to see Ly get their house in order regarding dodgy valuations before investing with them further with any product - not that they are the *only* platform accepting such dross blindly. Since the RICS seems to be so  at policing their members, maybe we should all try to get their Royal warrant removed - that kick in the nuts might stir them to action. |
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Post by martin44 on Nov 3, 2017 12:10:11 GMT
I just did, quick tip, when you click NO on the first question, DO NOT move your marker, Then use wheel on mouse to scroll down page and violla!! your marker will always land on the NO or the ZERO ... takes then around 33 secs. Enjoy. Edit. And thats not cricket Lendy, the wife reckons she can beat 33 secs , but when she jumped on my laptop, to take her survey.... the survey said NO! " You have already taken this survey."  |
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stokeloans
Member of DD Central
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Post by stokeloans on Nov 3, 2017 12:12:51 GMT
Haven't done the survey yet, a bit too early for strong drink, which is my usual companion for doing surveys. Assetz make it abundantly clear that regulatory restrictions mean their provision fund has to be discretionary, rather than all encompassing, on their pooled accounts. I wonder how Ly would structure it? Surprisingly, I got a couple hundred into Assetz 7% GBBA recently, but 5.5% is now the norm for their pooled account. Most new loans originating there range from 5.5% to maybe 8.5% these days, so not much wiggle room. I wonder where Ly will pitch their offering in terms of balancing returns v security/provision? I might be tempted to dip a toe in the water for pooled bridging loans on a maximum 50% LTV, but DFL based on some 70+% fairy story future valuation is too many steps too far. After all, 5 years is a long time in P2P .... Hmm, anyone collected stats on the number of simple bridging loans that went pear-shaped v development one's? Investing in a loan based on it's 'valuation',LTV or otherwise is quite a dangerous stance.As you ouint out most valuations should be taken with a pinch of salt. It's as reliable a strategy as say,only investing in 12% loans 
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dovap
Member of DD Central
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Post by dovap on Nov 3, 2017 12:22:25 GMT
Thanks a lot Lendy
Most amusing.
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guff
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Post by guff on Nov 3, 2017 12:42:49 GMT
I just did, quick tip, when you click NO on the first question, DO NOT move your marker, Then use wheel on mouse to scroll down page and violla!! your marker will always land on the NO or the ZERO ... takes then around 33 secs. Enjoy. Edit. And thats not cricket Lendy, the wife reckons she can beat 33 secs , but when she jumped on my laptop, to take her survey.... the survey said NO! " You have already taken this survey." Mrs. Guff is equally unimpressed.
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Jeepers
Member of DD Central
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Post by Jeepers on Nov 3, 2017 12:43:07 GMT
Hi, over 400 responses so far. Interesting that the views in this thread are very much in the minority. Lendy SupportReally? I’ll keep an eye out for the launch then 🤣 Would you care to share a print screen of a pie chart for each question to support this?
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SteveT
Member of DD Central
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Post by SteveT on Nov 3, 2017 12:47:51 GMT
I suspect they've been inundated with a positive response.
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bloodycat
Member of DD Central
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Post by bloodycat on Nov 3, 2017 12:49:03 GMT
I wasn't entirely negative, but certainly on the information given so far I wouldn't be particularly interested.
I'm prepared to accept a lower headline rate to have my funds in an ISA wrapper, but the benefits of being able to filter out some of the less desirable loans outweigh the time saved by leaving it to the autoinvest (especially if the auto-invest returns aren't 'guaranteed').
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bloodycat
Member of DD Central
Posts: 184
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Post by bloodycat on Nov 3, 2017 12:52:32 GMT
I just did, quick tip, when you click NO on the first question, DO NOT move your marker, Then use wheel on mouse to scroll down page and violla!! your marker will always land on the NO or the ZERO ... takes then around 33 secs. Enjoy. Edit. And thats not cricket Lendy, the wife reckons she can beat 33 secs , but when she jumped on my laptop, to take her survey.... the survey said NO! " You have already taken this survey." I suspect you just need to clear your cookies (or use a different browser).
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at policing their members, maybe we should all try to get their Royal warrant removed - that kick in the nuts might stir them to action.
