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Post by Deleted on Nov 3, 2017 13:04:11 GMT
I think this a great idea from Lendy to positively engage with the lenders and try to find out what they want in such a positive way and they should be applauded not insulted the many of us have here. I'm a little dissapointed in our response.  On the other hand I don't see 6% and 7% as an attractive option but I do think this is a great place to start the negotiation. I've proposed a 9% bond for 5 years, extendable every year on the anniversary of the loan for another year. But with preference rights over all of Lendy's assets at a default or failure to achieve the 9%. I hope they take this idea seriously and come back with some alternatives.  |
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p2p2p
Member of DD Central
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Post by p2p2p on Nov 3, 2017 13:04:29 GMT
What I want from p2p is a broker that does the due diligence better than I can (more information, more time, better skills) and gives me a better return than a bank to reflect the greater risk, all without my having to play at being a bank. Many p2p companies aspire to do this, the one that garners the greatest confidence in their loan handling team will clean up. I think this could be Lendy.
I welcome Lendy's plan, if they can have a rolling rather than 3 year investment, and handle their loan portfolio so auto-investors aren't disadvantaged against active ones.
I took most of my money out of Funding Circle this year, but have been trickling it back into their auto-invest product, as its just less work for me. I'm a passive investor in equity, I want to be the same in p2p.
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Post by martin44 on Nov 3, 2017 13:09:23 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). Thanks, it worked, new record set at 27secs by mrs44.  beat that.
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Post by sayyestocress on Nov 3, 2017 14:18:44 GMT
I suspect you just need to clear your cookies (or use a different browser). Thanks, it worked, new record set at 27secs by mrs44. beat that. Instead of just voting no for everything and filling the survey in a fast as possible, why not use the opportunity (and only a minute or two of your time) to be constructive to say why you think it's a bad idea or suggest how it could be better in the comment section at the bottom? That's far more useful to Lendy and the people that would consider using such a product. You never know they might listen... ....or maybe not.... .....who knows?! 
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stokeloans
Member of DD Central
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Likes: 485
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Post by stokeloans on Nov 3, 2017 14:19:38 GMT
The naivety of some people  |
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acky
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Post by acky on Nov 3, 2017 14:36:11 GMT
It's interesting to note Lendy's comment several posts back that the views expressed here do not represent the majority response they are getting to the survey. I suspect that the average forum member, being a much more savvy and experienced p2p investor than the average, probably invests far more in P2P than the average investor. If that's the case then if the survey was weighted by actual or potential Lendy investment, it would probably be far more negative to this proposal than a straight average of responses. If the survey is truly anonymous as is stated, then unfortunately Lendy will not be able to factor this into their decision.
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Post by sayyestocress on Nov 3, 2017 14:37:25 GMT
The naivety of some people Who's that aimed at?
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ped
Member of DD Central
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Post by ped on Nov 3, 2017 14:42:49 GMT
Full set of No's from me!
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stokeloans
Member of DD Central
Posts: 402
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Post by stokeloans on Nov 3, 2017 14:47:44 GMT
The naivety of some people Who's that aimed at? Anyone who believes the 'due diligence' Anyone who believes the valuations are accurate Anyone who believes Lendy suddenly engaging with this forum isn't purely a case of self interest.Where are they when they are questioned on serious investment matters ? They only pop up when they have spin to weave
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upland
Member of DD Central
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Post by upland on Nov 3, 2017 14:50:55 GMT
Ditto , I answered N or 0 to most. I could just see an autoinvest product shunting me into rubbish loans with bad returns and no way of getting out. I have seen other p2p websites try to use their customer base as fodder , I am very not keen to be one. Bond issues for a long time strike me as not a good idea , there are examples of them failing and leaving you with nothing. There are much better p2p websites with realistic return profiles than that. I like it as it is (just about).
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GeorgeT
Member of DD Central
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Post by GeorgeT on Nov 3, 2017 15:02:33 GMT
It's a NO from me.
The thought of having money tied up in LY for 3 or 5 years, relying on their DD and solvency, for a single digit % return, chills my blood.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 3, 2017 15:05:46 GMT
Couldn't agree MORE.
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Post by sayyestocress on Nov 3, 2017 15:08:02 GMT
Anyone who believes the 'due diligence' Anyone who believes the valuations are accurate Anyone who believes Lendy suddenly engaging with this forum isn't purely a case of self interest.Where are they when they are questioned on serious investment matters ? They only pop up when they have spin to weave Lendy serves high risk borrowers; dodgy things are going to crop up during people's own DD. I don't think their loan book is mature enough to know whether the rate they pay is big enough for the risk; only time will tell. That does not necessarily mean there is no place for an auto-invest product. I wouldn't invest based on the rates mentioned in the survey but it doesn't mean the product doesn't have potential and there simply isn't enough detail in the information currently available for a fair assessment. Because of the nature of the risky loans people spot things they don't like which then snowball on the forum to the point where any time Lendy posts here they tend to be met with aggressive negativity; would you bother trying to engage even if you had some good news when someone is bound to pop up and make demands for information on un-related issues? Pretty much any company/individual is always going to try and spin things to make themselves look better, it's human nature. Lendy are no angels but I believe constructive messages both positive and negative get lost round these parts by getting diluted by negative non-constructive posts. Rant over...
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Nov 3, 2017 15:09:32 GMT
Anyone who believes the 'due diligence' Anyone who believes the valuations are accurate Anyone who believes Lendy suddenly engaging with this forum isn't purely a case of self interest.Where are they when they are questioned on serious investment matters ? They only pop up when they have spin to weave Oh stokeloans, Ye Of Little Faith! ...........  
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gustapher
Member of DD Central
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Post by gustapher on Nov 3, 2017 15:27:18 GMT
No from me to everything plus a 0 for good measure.
Fix the basics is all they need to do.
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beat that.
