izigor
Member of DD Central
Posts: 162 
Likes: 86
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Post by izigor on Nov 3, 2017 19:07:39 GMT
Here is the reason why this product is NOT a good idea:
Let's say you start with £100,000 (just so it makes it easy to get the numbers)
If you manually invest in 12% loans and compound the interests back in your account (i.e. when you receive the interest at the end of the month, you use this interest to buy into new 12% loans), then after 5 years your capital will grow to £181,669.66
If you use this Auto Investment that Lendy is promoting, you will only end up with a capital of £135,000. This is a difference of £46669.66. So you are paying over £45k for this feature .. a tad expensive wouldn't you say?
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Let's pretend we are quite lazy, unlucky and a slob and we only get to buy 10% loans plus we lose 1% of our WHOLE capital (even the compounded one) each year.
Even at such dire circumstances, if we manually invest, the capital after 5 years would be £156,568.10. That's £21,568.10 better off than this new product!!!
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Saying all the above, I am quite happy not to insult Lendy. In fact, I would be quite encouraged if this 'BOND' is for a different purpose, such as finishing up the constructions on buildings which have gone into default. This serves an ulterior purpose. However, if Lendy is trying to skip past our intelligence, to use our money on exactly the same thing for a reduced return, then they know exactly where I want them to stick it!
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Post by supernumerary on Nov 3, 2017 19:37:31 GMT
Your forum update at about 17:00 today; (Forum update: Early results - 715 responses; 46% in favour of auto-invest product, 33% against, 21% don't know.) At the time of posting; 46% ‘in favour’ from 715 responses = 328.9 Round that figure up to 329 ‘in favour’. The percentage of the 329 ‘in favour’, to the total of 18,130 registered users (@ 19:30 today) = 1.81467% |
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dovap
Member of DD Central
Posts: 467
Likes: 410
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Post by dovap on Nov 3, 2017 20:16:45 GMT
The percentage of the 329 ‘in favour’, to the total of 18,130 registered users (@ 19:30 today) = 1.81467% That's clearly a massive inundation (if those numbers were re-run by a RICS'er that would be ~70%)
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Post by martin44 on Nov 3, 2017 20:28:04 GMT
The percentage of the 329 ‘in favour’, to the total of 18,130 registered users (@ 19:30 today) = 1.81467% That's clearly a massive inundation (if those numbers were re-run by a RICS'er that would be ~70%) A " RICS'er" .... still laughing. 
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Post by Lendy Support on Nov 3, 2017 20:47:38 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. While I try to take a balanced view on Lendy I'm skeptical of these results. Hi gustapher, we understand that you might not want to reveal your identity in a public forum but please DM us and we'll ensure you are on the list when we update our investors once we have assessed the final findings from the survey. Regards Lendy Support
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Post by martin44 on Nov 3, 2017 20:57:47 GMT
I don't like the sound of that gustapher......... you have been placed on a list.......  |
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Post by Badly Drawn Stickman on Nov 3, 2017 20:58:20 GMT
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. While I try to take a balanced view on Lendy I'm skeptical of these results. Hi gustapher , we understand that you might not want to reveal your identity in a public forum but please DM us and we'll ensure you are on the list when we update our investors once we have assessed the final findings from the survey. Regards Lendy Support Would you not just automatically update all your investors?
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Post by martin44 on Nov 3, 2017 21:14:23 GMT
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. While I try to take a balanced view on Lendy I'm skeptical of these results. Hi gustapher , we understand that you might not want to reveal your identity in a public forum but please DM us and we'll ensure you are on the list when we update our investors once we have assessed the final findings from the survey. Regards Lendy Support
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Post by dan1 on Nov 3, 2017 21:16:00 GMT
Hi gustapher , we understand that you might not want to reveal your identity in a public forum but please DM us and we'll ensure you are on the list when we update our investors once we have assessed the final findings from the survey. Regards Lendy Support I think you've missed the point, martin 
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Post by martin44 on Nov 3, 2017 21:17:29 GMT
whats that got to do with the price of onions? Niether do you!! I think you've missed the point, martin
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Post by dan1 on Nov 3, 2017 21:35:57 GMT
I think you've missed the point, martin Implication being that criticism comes more easily when anonymous. That post from Lendy bought a smile to my face. Full disclosure: I'm not currently investing on Lendy
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Post by martin44 on Nov 3, 2017 21:43:45 GMT
enlighten me please, i'm obviously missing something. That post from Lendy bought a smile to my face. Full disclosure: I'm not currently investing on Lendy Does that include you as well? As i'm sure your name is not dan , and your also not a dancing magpie. I doubt anyone on this forum is posting in any capacity other than anonymously. Maybe i'm wrong, and Lendy know who we all are.
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gustapher
Member of DD Central
Posts: 144
Likes: 267
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Post by gustapher on Nov 3, 2017 21:45:46 GMT
enlighten me please, i'm obviously missing something. Implication being that criticism comes more easily when anonymous. That post from Lendy bought a smile to my face. Full disclosure: I'm not currently investing on Lendy Not really what I took from it. It was hardly criticism given the general tone on here. Anyway, I'll happily DM them - couldn't give two hoots - however unless they show me the original data from survey monkey it's of no interest.
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p2p2p
Member of DD Central
Posts: 123
Likes: 114
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Post by p2p2p on Nov 4, 2017 6:54:48 GMT
Why would you expect a company which has collected valuable commercial data to give it away in its entirety to its customers for free?
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Nov 4, 2017 10:54:18 GMT
Because we contributed to the data for free? Because, given the high level of scepticism re the "inundated" issue, it might allow them to start building some credibility. Because they stated something along the lines of wanting to be the most trusted platform? Because if they use extracts for promotional purposes they should be prepared to substantiate their claims.
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