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Post by martin44 on Nov 3, 2017 15:30:43 GMT
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?!  If i thought lendy had any interest whatsover in what it's lenders want , then that's exactly what i would have done, but they haven't , so i didn't. 
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ben
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Post by ben on Nov 3, 2017 15:31:51 GMT
Finally stopped laughing, still not really sure who it is aimed at, as if it is to be a lower risk then there are far better options and if it is the same high risk surely people who do not want to do any dd would just be better investing manual and diversifying across all the loans, which is basically all they will be doing but for lower potential returns.
Trusting Lendy to be around in a few years is probably not very likely as currently with the way they are using the provision fund they are basically a pyramid scheme.
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acky
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Post by acky on Nov 3, 2017 15:35:36 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... I agree. And to anyone critical of Lendy's involvement in this forum, I need say only two things ........ FC
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stokeloans
Member of DD Central
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Post by stokeloans on Nov 3, 2017 15:38:10 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! ...........   Faith is best kept for sunday morning in church
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stokeloans
Member of DD Central
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Post by stokeloans on Nov 3, 2017 15:39:52 GMT
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... I agree. And to anyone critical of Lendy's involvement in this forum, I need say only two things ........ FC Moneything and Collateral manage to engage with this forum in a reasonable way
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copacetic
Member of DD Central
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Post by copacetic on Nov 3, 2017 15:50:21 GMT
I wonder how this same survey would have gone down if pitched by MT. I think there's probably a market for the product but sentiment on how the platform regards lenders would make or break it.
Compare MT's general update on Wednesday with for example Lendy's weekly update on 11th Aug with the 'New available loans process.' Treating investors like mugs does not inspire the confidence for a black box investment.
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ben
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Post by ben on Nov 3, 2017 15:53:44 GMT
I wonder how this same survey would have gone down if pitched by MT. I think there's probably a market for the product but sentiment on how the platform regards lenders would make or break it. Compare MT's general update on Wednesday with for example Lendy's weekly update on 11th Aug with the 'New available loans process.' Treating investors like mugs does not inspire the confidence for a black box investment. there is a big market for the product, plenty of similar examples it is just the trust that will be a big issue, the majority of lendy borrowers are not exactly upstanding business people.
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p2p2p
Member of DD Central
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Post by p2p2p on Nov 3, 2017 15:57:19 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. I suspect the average forum member wants to commit more time to their p2p portfolio, both here and on Lendy than most people are prepared to do. I expect p2p companies will split into two: 1) The enthusiast end, with full control, secondary markets with discounts/premiums, bots, APIs etc 2) The mass market, simple auto-investing, hands off. I think the former is a niche, with greater commercial rewards for the latter. Funding Circle had the software for the former, but has switched to the latter. Lendy is partway between, and needs to decide which way to move, big fish in small pond or not. Anyone going mass-market doesn't need to hear from the super-fan, but the other end of the range, so they can extrapolate into the vast numbers who haven't tried p2p.
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Post by GSV3MIaC on Nov 3, 2017 16:07:04 GMT
There is a market for such a product - both AC and FC offer a successful version. FC are touting 7.5% IIRC, with an exit mechanism via their SM when you get bored, rather than a 3/5 year lock in. Neither of those platforms currently boasts 1/3rd non-performing loans, like Ly does.
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elliotn
Member of DD Central
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Post by elliotn on Nov 3, 2017 16:16:20 GMT
Hi, over 400 responses so far. Interesting that the views in this thread are very much in the minority. Lendy SupportThe views in this thread were exactly mine. I will be interested to see how LY do without active investors.
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elliotn
Member of DD Central
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Post by elliotn on Nov 3, 2017 16:23:12 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 SupportThose inundating you not to get loan updates and imploring you to only give 1/3 of the interest margin are a curious bunch; perhaps they are the ones that do not want their full bonus accruals too.
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Post by sayyestocress on Nov 3, 2017 16:28:44 GMT
I agree. And to anyone critical of Lendy's involvement in this forum, I need say only two things ........ FC Moneything and Collateral manage to engage with this forum in a reasonable way True indeed which is to be commended, though it wasn't too long ago that Savingstream seemed to be a darling of this forum. I'm not saying MT and COL will go the same way but it's not off the cards entirely. Humans are fickle creatures!
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NSFW
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Post by NSFW on Nov 3, 2017 17:52:59 GMT
It's just DFL tranche after DFL tranche. There wouldn't be any diversification.
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Jeepers
Member of DD Central
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Post by Jeepers on Nov 3, 2017 18:14:02 GMT
I hope they are trying to raise money through bonds to raise money to repay the shortfall to lenders of DFL 1+2 😬
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gustapher
Member of DD Central
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Post by gustapher on Nov 3, 2017 18:35:18 GMT
Hi, over 400 responses so far. Interesting that the views in this thread are very much in the minority. Lendy Support (Forum update: Early results - 715 responses; 46% in favour of auto-invest product, 33% against, 21% don't know.) Can you upload/post a link to the actual survey monkey results or show a screenshot? Apart from the qualitative answers I'm sure people on here would find the high level data interesting.
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beat that.
