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Post by Ace on Jan 24, 2020 21:22:03 GMT
Today's changes sees another multi-tranche loan repaid (9518099) and another loan receive a 5th tranche taking the total drawn to £750k (9188969)
The 3 loans of £750k each represent 14.7% of the loan book (44% combined)
The 4 loans of between £400k & £500k (inclusive) represent a further 34% of the loan book combined. (So just 7 loans currently represent 78% of the loan book)
There seems to have been a general improvement in diversification as lender deposits have grown. There are only 2 loans of the maximum £750k now, and each represents 9.9% of the loan book. I would still like to see the maximum loan reduce to under 5% of the loan book, and to be diversified across more than 1 loan originator though.
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Post by Financial Thing on Feb 14, 2020 19:34:02 GMT
Loanpad - pleased to see the changes you've made today in the Live Data Feed summary display - particularly the acknowledgement that there are effectively really only 20 distinct loans on the platform (not the nearly forty previously reported) , and the inclusion of the ICF statistics. Thank you. Good news indeed. It does beg the question, how is diversification to be improved? Loanpad , could you please update on plans for improving diversification of loans and bringing in additional lending partners, something which has been alluded to but not materialised. Many thanks. Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and take great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors' money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything.
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Loanpad
Feb 14, 2020 20:07:28 GMT
via mobile
Post by gravitykillz on Feb 14, 2020 20:07:28 GMT
Good news indeed. It does beg the question, how is diversification to be improved? Loanpad , could you please update on plans for improving diversification of loans and bringing in additional lending partners, something which has been alluded to but not materialised. Many thanks. Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and took great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. I can get a higher interest from assetz 30 day compared to loanpad 60 day notice.
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Ukmikk
Member of DD Central
Posts: 452 
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Loanpad
Feb 14, 2020 21:59:14 GMT
via mobile
Post by Ukmikk on Feb 14, 2020 21:59:14 GMT
Good news indeed. It does beg the question, how is diversification to be improved? Loanpad , could you please update on plans for improving diversification of loans and bringing in additional lending partners, something which has been alluded to but not materialised. Many thanks. Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and took great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. Good to hear those observations, hope you're right.
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Post by Ace on Feb 14, 2020 22:24:08 GMT
Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and took great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. I can get a higher interest from assetz 30 day compared to loanpad 60 day notice. Not with an average LTV of 25% though. I invest in both Loanpad and Assetz. I like both a lot. They both allow multiple rolling withdrawals to be set up and cancelled when not needed, which allows regular quick access to part of your funds.
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zlb
Member of DD Central
Posts: 1,422
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Post by zlb on Feb 22, 2020 8:56:51 GMT
Good news indeed. It does beg the question, how is diversification to be improved? Loanpad , could you please update on plans for improving diversification of loans and bringing in additional lending partners, something which has been alluded to but not materialised. Many thanks. Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and take great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors' money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. With respect for the work you have put into your review business, you made a bad judgement call on the personalities and 'feeling' at Lendy. Your advice often is modelled on the 'I've met them and they are good people' approach. I'm not sure that I can trust your judgement of people, and therefore I feel concerned now, whenever I see one of your reviews and go through them picking out the bits that appear to be facts rather than impressions. One of the things we are all missing is being able to apply our intuition to the people/personalities running the platform - so a visit to an office could be of value, but it's not an easy one to write about. I like that you have stuck to the fact about the size of team and office; but you imply there are others who have overly-luxurious offices - it would be interesting to know which.
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Post by Ace on Feb 22, 2020 9:51:12 GMT
Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and take great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors' money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. With respect for the work you have put into your review business, you made a bad judgement call on the personalities and 'feeling' at Lendy. Your advice often is modelled on the 'I've met them and they are good people' approach. I'm not sure that I can trust your judgement of people, and therefore I feel concerned now, whenever I see one of your reviews and go through them picking out the bits that appear to be facts rather than impressions. One of the things we are all missing is being able to apply our intuition to the people/personalities running the platform - so a visit to an office could be of value, but it's not an easy one to write about. I like that you have stuck to the fact about the size of team and office; but you imply there are others who have overly-luxurious offices - it would be interesting to know which. I also doubt the starting premise that it was Loanpad's "choice" that they have a single lending partner. They made it quite clear on their website and in some replies to questions on the forum that they were intending to diversify across more lending partners. One can only assume that it's more of a consequence of being unable to find other "quality" lending partners than a deliberate choice. Despite this, I'm a big fan of Loanpad's offering, and happy with their current lending partner, but if they're going to keep growing they will need others eventually.
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easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Feb 22, 2020 10:43:42 GMT
I can get a higher interest from assetz 30 day compared to loanpad 60 day notice. I invest in both Loanpad and Assetz. I like both a lot. They both allow multiple rolling withdrawals to be set up and cancelled when not needed, which allows regular quick access to part of your funds. Never lose sight that the majority of loans on loanpad are for development projects, while an LTV of 25% might seem attractive, it is actually and LTGDV figure quoted, which is significantly different as many are currently finding out as the various administrations occurring in P2P are unfolding. I invest in loanpad as part of a much larger investment spread, with any investment, it is wise to only invest as much as you can afford to lose, no matter how attractive the proposition may appear.
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Post by Ace on Feb 22, 2020 10:47:42 GMT
Not with an average LTV of 25% though.I invest in both Loanpad and Assetz. I like both a lot. They both allow multiple rolling withdrawals to be set up and cancelled when not needed, which allows regular quick access to part of your funds. Never lose sight that the majority of loans on loanpad are for development projects, while an LTV of 25% might seem attractive, it is actually and LTGDV figure quoted, which is significantly different as many are currently finding out as the various administrations occurring in P2P are unfolding. I've seen many Loanpad development loans that use the LTV figure to base their stated percentage on until the development is complete (or sometimes very nearly complete) when they switch to the LTGDV. It's one of the reasons I favour them.
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easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Feb 22, 2020 11:03:12 GMT
Never lose sight that the majority of loans on loanpad are for development projects, while an LTV of 25% might seem attractive, it is actually and LTGDV figure quoted, which is significantly different as many are currently finding out as the various administrations occurring in P2P are unfolding. I've seen many Loanpad development loans that use the LTV figure to base their stated percentage on until the development is complete (or sometimes very nearly complete) when they switch to the LTGDV. It's one of the reasons I favour them. ALL multi tranche loans currently on loanpad are quoted as LTV when they are actually based on Gross development value, I am only pointing out my own observations, which in my own personal opinion is a significant difference to what is being portrayed.
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benaj
Member of DD Central
N/A
Posts: 5,612
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Post by benaj on Feb 22, 2020 11:19:44 GMT
I don't look into LTV or LTGDV so much on this platform. Loanpad does provide enough information about their loan performance and ICF usage if you dig deeper.
Personally, I am happy with both statistics and the platform operations so far.
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Post by Ace on Feb 22, 2020 15:16:16 GMT
I've seen many Loanpad development loans that use the LTV figure to base their stated percentage on until the development is complete (or sometimes very nearly complete) when they switch to the LTGDV. It's one of the reasons I favour them. ALL multi tranche loans currently on loanpad are quoted as LTV when they are actually based on Gross development value, I am only pointing out my own observations, which in my own personal opinion is a significant difference to what is being portrayed. With respect easynow , that simply isn't true. Also, I'm not sure why you would pick out multi-tranche loans as being in any significant way different to single tranche loans on Loanpad. If I take the first two loans in my live loan list (and everyone else's for that matter) as examples: Loan 9129586 (5 tranches with an LTGDV of 15%, GDV = £5m, Loanpad loan of £750k). You are correct in saying that this loan does indeed use the GDV when calculating Loanpad's lending percentage, but the development was "virtually complete" when Loanpad first lent on this. In my view this loan is closer to being a bridging loan than a development loan, sometimes referred to as a development exit loan. So, I'm happy for Loanpad to use the GDLTV in this case. Given that we're only lending 15% of this value, there really is a very small chance (admittedly not a zero chance) of making a loss on this loan. Also note that the junior lending partner is lending £3.55m against our senior loan of £0.75m, so they are very highly incentivised to ensure we get all of our loan returned. Loan 9135259 (4 tranches with an LTV of 47.83% and an LTGDV of 13.1%, GDV = £4.2m, OMV = £1.15m, Loanpad loan of £550k). Contrary to your statement, Loanpad do NOT use the GDV when calculating their lending percentage for this multi-tranche loan. They use the very much lower Open Market Value, which in this case is IMO the correct and prudent thing to do as it is a true development loan. I CBA to analyse and report on all of their current and past loans to conclusively prove my point, but these are typical of what I see with Loanpad loans, i.e. IMO they generally take a prudent and sensible approach to their valuations, which is exactly why I'm a big fan of their platform. Just in case you are wondering, I have absolutely no connection to Loanpad other than being a current lender on their platform (oh, and beneficiary of their referral program).
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Post by Financial Thing on Feb 25, 2020 16:10:05 GMT
Loanpad's choice of a single quality lending source was a good move IMO. I visited Loanpad's current lending source (Handf) in Jan 2020. Handf has a good amount of skin in the game on each loan, (they lend out millions of their own cash), their small team is highly experienced, intelligent and they run a low cost operation. This is different to the other p2p's that have huge London offices with many mouths to feed. But most importantly, I felt Handf cared and take great responsibility in providing high quality loans to Loanpad to ensure loans are repaid and investors' money is as protected as possible. Wide diversification other failed p2p companies gave investors resulted in poor due diligence resulting in a capital losses. Kudos Loanpad. Don't change anything. With respect for the work you have put into your review business, you made a bad judgement call on the personalities and 'feeling' at Lendy. Your advice often is modelled on the 'I've met them and they are good people' approach. I'm not sure that I can trust your judgement of people, and therefore I feel concerned now, whenever I see one of your reviews and go through them picking out the bits that appear to be facts rather than impressions. One of the things we are all missing is being able to apply our intuition to the people/personalities running the platform - so a visit to an office could be of value, but it's not an easy one to write about. I like that you have stuck to the fact about the size of team and office; but you imply there are others who have overly-luxurious offices - it would be interesting to know which. I appreciate your feedback...you're correct, I made bad judgement calls on Collateral, Lendy, Funding Secure all of which I invested money through but none I visited (obviously a mistake on my part). These were companies I invested through very early on in my p2p lending journey when my trust levels were higher. As with life, I try to learn from past mistakes and grow from them. I certainly don't hide from them. I stand by what I said about Loanpad after meeting with Louis and Handf. Could I be wrong...of course. Just my opinion. People can lose money in p2p, just as people can lose money purchasing stocks or buying crypto. That's part of the investment risk. I do feel a duty to write about my learnings as I have access to p2p people in ways most p2p investors do not. From there, it's your decision what to do with this information.
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Loanpad
Feb 25, 2020 20:38:23 GMT
via mobile
Post by gravitykillz on Feb 25, 2020 20:38:23 GMT
Financial thing is paid to promote platforms. Always better to do your own research than to listen to propaganda.
I'm sure anyone with a nice office would get a positive review.
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Post by nooneere on Feb 25, 2020 21:28:13 GMT
Financial thing is paid to promote platforms. Always better to do your own research than to listen to propaganda. I'm sure anyone with a nice office would get a positive review. There are no perfect P2P commentary sites, certainly not P2P Independent Forum. One has to glean different types of insights from different sites, without following their advice uncritically. Financial Thing has its value, particularly in the video interviews with P2P platforms - these can be very revealing about the quality of management. There's a really good recent interview with CrowdProperty, for example, which persuaded me it was a platform worth using. The last Lendy video interview, by contrast, looked very shifty. 4thWay is another site recently discussed on this forum in relation to its bad call on GS, but this site has value in its access to the financial data of some platforms, or reporting on their attitude to sharing of data. One of my favourite sites, rarely mentioned here, is The Obvious Investor obviousinvestor.com/category/p2p-update/, which gives real monthly data on income from the author's P2P portfolio. He's not forward looking and wouldn't give advance warning of problems, but seeing how someone's real investments are doing on a number of platforms is something I find useful.
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