MarkT
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Post by MarkT on Feb 3, 2018 10:42:50 GMT
Yes, I understand and your link is fully relevant but I wasn't clear what I meant. I meant: People don't realise that Brexit is YET to happen. So the risks to our financial services industry that cannot be mitigated will only have an impact either when it's clear during the negotiation stages they will be affected or when we leave (in March 2019 etc.) I quite agree, but the signs don't look too good. Every credible (this excludes Minfordian) analysis of the future scenarios indicate a reduction UK economic growth compared to current performance. Until the new, lower, equilibrium is reached there is likely to be quite a bit if chaos resulting in increased default rates and business failures. Although some sectors may be largely unaffected for others it will be catastrophic. Unfortunately, my crystal ball isn't yet sufficiently well developed to determine which is which and the inpact on P2P lending.
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IFISAcava
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Post by IFISAcava on Feb 3, 2018 11:30:14 GMT
Yes, I understand and your link is fully relevant but I wasn't clear what I meant. I meant: People don't realise that Brexit is YET to happen. So the risks to our financial services industry that cannot be mitigated will only have an impact either when it's clear during the negotiation stages they will be affected or when we leave (in March 2019 etc.) I quite agree, but the signs don't look too good. Every credible (this excludes Minfordian) analysis of the future scenarios indicate a reduction UK economic growth compared to current performance. Until the new, lower, equilibrium is reached there is likely to be quite a bit if chaos resulting in increased default rates and business failures. Although some sectors may be largely unaffected for others it will be catastrophic. Unfortunately, my crystal ball isn't yet sufficiently well developed to determine which is which and the inpact on P2P lending. You appear to allowing facts to get in the way of the have cake and eat it scenario
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keith
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Post by keith on Feb 6, 2018 15:12:38 GMT
But we’ll have a Blue passport again............
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Feb 6, 2018 15:28:06 GMT
But we’ll have a Blue passport again............ Only if it's A3!
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boundah
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Post by boundah on Feb 6, 2018 17:13:26 GMT
But we’ll have a Blue passport again............ Only if it's A3! I insist on my blue passport measuring 5"x 3.5". We must take back control from those interfering busybodies in Brussels trying to force us to have passports in centimetres.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
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Post by stub8535 on Feb 6, 2018 18:35:25 GMT
I insist on my blue passport measuring 5"x 3.5". We must take back control from those interfering busybodies in Brussels trying to force us to have passports in centimetres. Seems like paper size humour has boundah(ries)😁 12.5 cm x 8.75 cm even. How many £ s and d would that cost? Or should we revert to guineas?
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jsmithe
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Post by jsmithe on Feb 6, 2018 21:32:31 GMT
The ‘blue’ passport was so dark it was as near to black as makes no odds, the window with the name written in pen in some cases has caused issues at passport control.
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tombraider
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Post by tombraider on Feb 16, 2018 2:47:35 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? I think the day you talk of has arrived.With the valuation being utterly ridiculous for todays auction of a castle (three times sale price) I think the question of would you still continue to invest in lendy is a no. And the advise from Lendy to diversify in loans is great especially as every one I have now is in default now including the Exeter and Scottish properties. I am genuinely worried about the valuations on these loans I still hold. A learning curve for all. .........jump ship.... if only I could
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Monetus
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Post by Monetus on Feb 16, 2018 3:02:22 GMT
Agreed. I am diversified and still have 50% of my capital locked up in overdue/suspended/defaulted loans which is insane and significantly higher than any other platform.
As well as the ridiculous valuations, my other main issue with Lendy is that the model has changed so much over the past year that I barely recognise it.
Off the top of my head:
- Started suspending loans on the secondary market as they see fit which locks people into loans.
- Stopped paying interest monthly after 90 days overdue
- Changed again and stopped paying monthly interest after 0 days overdue.
- Started bonuses and then decided they didn't have to pay if they sometimes felt like it.
- Took away pre-funding except for new loans only
Admittedly much of this is likely due to trying for regulation but still the goalposts have been moved significantly which is highly frustrating and has killed liquidity, the secondary market and essentially changed the Lendy proposition completely for existing lenders.
It certainly doesn't look like what I originally signed up for and I'd have reduced my lending to the platform significantly if I'd have known that were able to just change the rules as they go along.
What's next I wonder?
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jaswells
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Post by jaswells on Feb 16, 2018 3:16:59 GMT
Agreed. I am diversified and still have 50% of my capital locked up in overdue/suspended/defaulted loans which is insane and significantly higher than any other platform. As well as the ridiculous valuations, my other main issue with Lendy is that the model has changed so much over the past year that I barely recognise it. Off the top of my head: - Started suspending loans on the secondary market as they see fit which locks people into loans. - Stopped paying interest monthly after 90 days overdue - Changed again and stopped paying monthly interest after 0 days overdue. - Started bonuses and then decided they didn't have to pay if they sometimes felt like it. - Took away pre-funding except for new loans only Admittedly much of this is likely due to trying for regulation but still the goalposts have been moved significantly which is highly frustrating and has killed liquidity, the secondary market and essentially changed the Lendy proposition completely for existing lenders. It certainly doesn't look like what I originally signed up for and I'd have reduced my lending to the platform significantly if I'd have known that were able to just change the rules as they go along. What's next I wonder? A 3.3 Million profit?
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
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Post by stub8535 on Feb 16, 2018 3:38:49 GMT
Agreed. I am diversified and still have 50% of my capital locked up in overdue/suspended/defaulted loans which is insane and significantly higher than any other platform. As well as the ridiculous valuations, my other main issue with Lendy is that the model has changed so much over the past year that I barely recognise it. Off the top of my head: - Started suspending loans on the secondary market as they see fit which locks people into loans. - Stopped paying interest monthly after 90 days overdue - Changed again and stopped paying monthly interest after 0 days overdue. - Started bonuses and then decided they didn't have to pay if they sometimes felt like it. - Took away pre-funding except for new loans only Admittedly much of this is likely due to trying for regulation but still the goalposts have been moved significantly which is highly frustrating and has killed liquidity, the secondary market and essentially changed the Lendy proposition completely for existing lenders. It certainly doesn't look like what I originally signed up for and I'd have reduced my lending to the platform significantly if I'd have known that were able to just change the rules as they go along. What's next I wonder? A 3.3 Million profit? Or even a project, or two, completing on time and returning all capital and interest.
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Monetus
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Post by Monetus on Feb 16, 2018 3:41:05 GMT
Or even a project, or two, completing on time and returning all capital and interest. At least Cowes Week is going to be "bigger and better" this year... 
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rocky1
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Post by rocky1 on Feb 16, 2018 9:12:02 GMT
dont forget part of lendys sales pitch which goes like. at LENDY we have a REPUTATION for having one of the most EXPERIENCED and SPECIALIST credit assessment teams in the industry who ENSURE each investment has met our RIGOUROUS and ROBUST LENDING CRITERIA we only offer loans to investors loans thathave been through our RIGOUROUS and STREAMLINED DUE DILIGENCE and LEGAL CHECKING.what about that then nothing to worry about reel em in LENDY we need more new investors [gamblers]to keep this circus on the road
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rocky1
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Post by rocky1 on Feb 21, 2018 19:24:18 GMT
dont forget part of lendys sales pitch which goes like. at LENDY we have a REPUTATION for having one of the most EXPERIENCED and SPECIALIST credit assessment teams in the industry who ENSURE each investment has met our RIGOUROUS and ROBUST LENDING CRITERIA we only offer loans to investors loans thathave been through our RIGOUROUS and STREAMLINED DUE DILIGENCE and LEGAL CHECKING.what about that then nothing to worry about reel em in LENDY we need more new investors [gamblers]to keep this circus on the road lendy ithink its time to sack the bloomin lot if the rubbish you are expecting us to fund now has met all of the above criteria.your arrogance and greed and treatment of all lenders intelligence has reached an all time low. may be some kind of comms from paul64 about what lendy are and where its going could help to gain lender confidence to get things running again it is in none of our interests for the platform to fail.
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rocky1
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Post by rocky1 on Feb 22, 2018 7:20:28 GMT
latest loan 150k and not filled with only 261 lenders at moment.LENDY how are you going to fill these loans when you already have millions of pounds of decent/honest and hard working people's money tied up unable to reinvest earning sod all interest for many/many months and little or no chance of seeing even full capital return for a few years to come.it seems your cash cowes [us] is drying up
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