IFISAcava
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Post by IFISAcava on Jan 7, 2018 12:44:05 GMT
Ly is my least favourite .. you pay MORE the longer it takes your part to sell (which is exactly bass-ackwards IMO), and Ly themselves have the ability (which they use) to queue jump &/or to 'suspend' the loan, making sure you keep on paying the "non-performance fee". A straight 0.25%/0.5% upon sale is much more acceptable, but the MT/ABL 'no charge, thanks for your custom' is by far my favourite. Moving goal posts (they now appear to have met in the middle, or maybe crossed into the imaginary domain) is the main reason I joined the queue for the exit. It's the same at Collateral, but fewer people seem to be complaining about them. I think if you just add a discounting option, then the loss of interest becomes less of a problem as you can sell more or less instantly at your own defined charge, or take your chance on the queue. But when people are offered the possibility of introducing discounting to non-discountable SMs (e.g. see other threads on the Forum), many are set against it.
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IFISAcava
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Post by IFISAcava on Jan 7, 2018 12:45:52 GMT
Ly is my least favourite .. you pay MORE the longer it takes your part to sell (which is exactly bass-ackwards IMO), and Ly themselves have the ability (which they use) to queue jump &/or to 'suspend' the loan, making sure you keep on paying the "non-performance fee". A straight 0.25%/0.5% upon sale is much more acceptable, but the MT/ABL 'no charge, thanks for your custom' is by far my favourite. Moving goal posts (they now appear to have met in the middle, or maybe crossed into the imaginary domain) is the main reason I joined the queue for the exit. This is the worst - your queue position changing when new/unsold tranches added, and i agree unique to Lendy and very unwelcome.
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Post by saraph on Jan 8, 2018 12:19:11 GMT
I used to get consistent 1% per month from Lendy, which is becoming something like 0.8% due to defaults and unfavorable changes in policies. I'm considering slowly moving my Lendy portfolio to stocks & ETFs.
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rocky1
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Post by rocky1 on Jan 8, 2018 13:44:25 GMT
idont think many people who have been with lendy since SSdays will be getting any where near 1% per month on all of their investments with the available loans jammed and IA/SUSPENDED and DEF which i think all mean the same thing any way we will not be moving our funds from lendy for a very long time and i expect a lot of capital losses to be coming.as for IA AND BONUS Iam not even listening to that story any more and would just be happy to get my capital back and move on.new investors will be happy for a few months with interest until they get caught up in the circle of lendy.
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withnell
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Post by withnell on Jan 8, 2018 14:33:38 GMT
Ly is my least favourite .. you pay MORE the longer it takes your part to sell (which is exactly bass-ackwards IMO), and Ly themselves have the ability (which they use) to queue jump &/or to 'suspend' the loan, making sure you keep on paying the "non-performance fee". A straight 0.25%/0.5% upon sale is much more acceptable, but the MT/ABL 'no charge, thanks for your custom' is by far my favourite. Moving goal posts (they now appear to have met in the middle, or maybe crossed into the imaginary domain) is the main reason I joined the queue for the exit. It's the same at Collateral, but fewer people seem to be complaining about them. If COL extend the loan term, they allow you to sell with no loss of interest - so this allows people who wanted to exit at expiry to have a chance to do so without losing out
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IFISAcava
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Post by IFISAcava on Jan 8, 2018 15:04:54 GMT
It's the same at Collateral, but fewer people seem to be complaining about them. If COL extend the loan term, they allow you to sell with no loss of interest - so this allows people who wanted to exit at expiry to have a chance to do so without losing out Fair enough - that is a difference with Lendy, and good on COL for this. But main point was on SM charges in general rather than on extended loans.
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ablender
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Post by ablender on Jan 8, 2018 16:03:01 GMT
Many people are mentioning that it is not realistic to receive 12% with no risk. I agree with this but it is also realistic that if I am taking a risk I expect to receive that 12%. I am not referring to the IA loans, but to the insane situation when one stops receiving interest if the loan part is on the SM. I as a lender will still bear the weight of the risk with no interest. I do not see this as realistic. If Lendy Support wants to keep the interest I feel that they should take the risk as well. Or they could charge for sales as many sites do. You usually pay one way or another - fee, early redemption or lost interest - with some notable exceptions (eg MT, FS, ABL, AC) in which you may pay in other ways (discount needed, or time to wait). And presumably for a site to remain viable, if it loses money from one type of income stream, it just has to raise it from somewhere else so you pay in a different way. I don't personally think it is insane, I think it is good to have different SM models for the different sites - my favourite is ABL, but many people complain about that too, so the reality is that you can't please all the people all the time. " if it loses money from one type of income stream, it just has to raise it from somewhere else so you pay in a different way" Lendy was making profit before they introduced this idea to keep the interest for themselves. I do not think that they really need it. At the time it made sense for two reasons. 1. There was the buy now pay later system which is not the case now. 2. The SM was as dry as the Sahara desert. If you put something on sale it would sell within seconds or at most within the day. There were only very few exceptions to this. All this has gone. Today, putting something for sale, taking days if not weeks or months to sell, during which the investor is exposed to the risk at no reward is unacceptable. Yes, there are platforms which charge a fee for the SM. A fixed fee or a percentage of sale means that I know what I am going to pay. As it is on Lendy, it could be anything. Re ABL, although I do find ABL's SM more complex than I would like, lenders do receive interest on parts offered for sale. Re pleasing people - I do not think that it is a question of pleasing people. It is more like if I am going to risk my money I want a return for it. I do not think that this is much to ask for.
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ablender
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Post by ablender on Jan 8, 2018 16:41:48 GMT
Ly is my least favourite .. you pay MORE the longer it takes your part to sell (which is exactly bass-ackwards IMO), and Ly themselves have the ability (which they use) to queue jump &/or to 'suspend' the loan, making sure you keep on paying the "non-performance fee". A straight 0.25%/0.5% upon sale is much more acceptable, but the MT/ABL 'no charge, thanks for your custom' is by far my favourite. Moving goal posts (they now appear to have met in the middle, or maybe crossed into the imaginary domain) is the main reason I joined the queue for the exit. It's the same at Collateral, but fewer people seem to be complaining about them. I think if you just add a discounting option, then the loss of interest becomes less of a problem as you can sell more or less instantly at your own defined charge, or take your chance on the queue. But when people are offered the possibility of introducing discounting to non-discountable SMs (e.g. see other threads on the Forum), many are set against it. I mainly use Collateral for the Jewelery and cars which sell practically instantly. People will start to complain when they start having to wait for a long time to sell. Re discounting problem. It would amount to not loosing the interest and instead loose part of the capital. Wow - that is a great improvement.
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Post by df on Jan 8, 2018 16:42:40 GMT
I used to get consistent 1% per month from Lendy, which is becoming something like 0.8% due to defaults and unfavorable changes in policies. I'm considering slowly moving my Lendy portfolio to stocks & ETFs. I don't know what my annual return is, I was moving funds in and out since last January, but considering my investments in some loans below 12%, long queues to sell and no interest received for overdue loans it could be as low as 9%. It will probably be getting lower than 0.8% every month as more and more of them turn into IA and DEF and hardly any new loans are coming in.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jan 8, 2018 19:24:52 GMT
It's the same at Collateral, but fewer people seem to be complaining about them. I think if you just add a discounting option, then the loss of interest becomes less of a problem as you can sell more or less instantly at your own defined charge, or take your chance on the queue. But when people are offered the possibility of introducing discounting to non-discountable SMs (e.g. see other threads on the Forum), many are set against it. I mainly use Collateral for the Jewelery and cars which sell practically instantly. People will start to complain when they start having to wait for a long time to sell. Re discounting problem. It would amount to not loosing the interest and instead loose part of the capital. Wow - that is a great improvement. One person's "loss of capital" is another person's "selling fee".
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Post by saraph on Jan 8, 2018 22:28:03 GMT
idont think many people who have been with lendy since SSdays will be getting any where near 1% per month on all of their investments with the available loans jammed and IA/SUSPENDED and DEF which i think all mean the same thing any way we will not be moving our funds from lendy for a very long time and i expect a lot of capital losses to be coming.as for IA AND BONUS Iam not even listening to that story any more and would just be happy to get my capital back and move on.new investors will be happy for a few months with interest until they get caught up in the circle of lendy. This circle you speak of terrifies me already. 10 out of 29 loans I'm invested in are below 0 days remaining. Lendy is my overly attached girlfriend, she just won't let me go.
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Tunny
Sometimes it is the people no one imagines anything of who do the things that no one can imagine
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Post by Tunny on Jan 10, 2018 10:53:24 GMT
Would you still continue to invest money into Lendy if/when the day comes were investors lose money and Lendy can no longer claim their major selling point "No investor is yet to lose any money to date." With the update today of PBL081 selling for £1 million less than the loan value and many other loans in dangerous water of investors not receiving their full capital return, it's looking a very real possibility that some investors will lose money in the near future. When I started investing in Lendy, I was fully aware of the real possibility that I could lose some money on some loans but overall fairly confident that I will make more money than I lost so personally I will still be happy to invest if I lose some money on a small numbers of loans. However, I feel that Lendy's reputation will be so badly damaged if this happens that a lot of people will try and jump ship as soon as they can. What are your thoughts? Copied from another thread but here are my thoughts.... The value of loans that are currently overdue or suspended is £84,099,081 (50.5%) Along with Q jumping by Lendy, unreliable VR, PBL changing to DFL, being stuck in a never ending SM Q, constantly changing goalposts. Ive got a few serious concerns about the platform coding, there seem to be so many errors in interest payments, sales not appearing in the SM Q and numerous other glitches. Meaningless updates. Ive managed to sell all loans but 2 with small amounts invested. Im out.
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rocky1
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Post by rocky1 on Jan 12, 2018 19:00:37 GMT
UNABLE TO INVEST ANY MORE IN LENDY as i am at my limit with lendy and only receiving 50% of interest each month and going down due to £00000 bogged down in IA SUS AND DEF loans.i think a lot of members are in the same situation as i look at the latest batch of loans that have gone live with only a few hundred investors in each of them and lots still on the SM.yes i think a lot of people are answering the question WOULD YOU CONTINUE TO INVEST IN LENDY and are doing it the only way they can. all we can do now is see how all the bad loans are handled and if we get 100% capital back over the next few years. not even thinking about IA and bonus interest{no chance}
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Post by df on Jan 12, 2018 20:03:58 GMT
UNABLE TO INVEST ANY MORE IN LENDY as i am at my limit with lendy and only receiving 50% of interest each month and going down due to £00000 bogged down in IA SUS AND DEF loans.i think a lot of members are in the same situation as i look at the latest batch of loans that have gone live with only a few hundred investors in each of them and lots still on the SM.yes i think a lot of people are answering the question WOULD YOU CONTINUE TO INVEST IN LENDY and are doing it the only way they can. all we can do now is see how all the bad loans are handled and if we get 100% capital back over the next few years. not even thinking about IA and bonus interest{no chance} Ditto. More and more loans stop paying interest and the extensions of some don't balance it out. I'm still investing in new loans, but there weren't many of those in the past 6 months or so. My investment with Ly is 50% down from what it was in May last year. I can see how it might come to the point when all my funds in Ly will be locked. I never took introduction of bonuses seriously - something that you might get if...... I don't have much faith in triumphal recovery of existing assets  , would be lucky to recover 70% of capital.
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mack
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Post by mack on Jan 12, 2018 20:18:30 GMT
I pulled out 8 or 9 months ago when the writing was obviously on the wall.
Early adopter and made the 12% and no capital losses and nothing tied up now. And I made well over a six figure sum on interest for the couple of years I was in.
For me clearly the due diligence was all over the place. They lent to pretty much anyone, no restraint. That is naff for 12%. There are respectable lenders off market paying more for less risk.
Why anyone would want to lend in the current state baffles me. Of course they will paint a pretty picture. Maybe they will improve but for me the apparent historical disregard for investors funds and risk awareness has put me off permanently.
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, would be lucky to recover 70% of capital.