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Post by Ace on Jul 30, 2020 16:09:20 GMT
Total funds on the platform crossed the £10,000,000 point for the first time today. Congratulations Loanpad . Only 24 days later and they've got over £11,000,000 funds on the platform. However, nearly £1.5m is unallocated. Great for liquidity, but does indicate that they may be finding it harder to deploy the funds that they've attracted.
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Post by herringbone on Jul 31, 2020 9:21:55 GMT
Total funds on the platform crossed the £10,000,000 point for the first time today. Congratulations Loanpad . Only 24 days later and they've got over £11,000,000 funds on the platform. However, nearly £1.5m is unallocated. Great for liquidity, but does indicate that they may be finding it harder to deploy the funds that they've attracted. Isn't this a good sign? Surely they could lend money instantly if they wanted to, the fact that they haven't suggests they're maintaining or even tightening their lending criteria
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Post by Ace on Jul 31, 2020 9:34:44 GMT
Only 24 days later and they've got over £11,000,000 funds on the platform. However, nearly £1.5m is unallocated. Great for liquidity, but does indicate that they may be finding it harder to deploy the funds that they've attracted. Isn't this a good sign? Surely they could lend money instantly if they wanted to, the fact that they haven't suggests they're maintaining or even tightening their lending criteria Hi herringbone. No I don't think it is a good thing. I've not seen the amount of free cash anywhere near the current percentage of the loanbook before. I think it indicates that they are struggling to secure suitable loans that meet their criteria. I think additional lending partners are required to open up more opportunities. I'm certainly not suggesting that they should relax their criteria. My concern is that they may be tempted to reduce rates again to open up more opportunities with the current partner. As I said, it's obviously a good thing if liquidity is your main concern.
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Post by herringbone on Jul 31, 2020 9:43:50 GMT
Isn't this a good sign? Surely they could lend money instantly if they wanted to, the fact that they haven't suggests they're maintaining or even tightening their lending criteria Hi herringbone . No I don't think it is a good thing. I've not seen the amount of free cash anywhere near the current percentage of the loanbook before. I think it indicates that they are struggling to secure suitable loans that meet their criteria. I think additional lending partners are required to open up more opportunities. I'm certainly not suggesting that they should relax their criteria. My concern is that they may be tempted to reduce rates again to open up more opportunities with the current partner. As I said, it's obviously a good thing if liquidity is your main concern. I think we're kind of saying the same thing: not good that they are struggling to secure suitable loans that meet their criteria, but good that they're not relaxing them.
I should say that I'm not in Loanpad, but if and when I put more into p2p, it'll probably be with them
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Post by Ace on Aug 6, 2020 13:51:39 GMT
They've added a couple of new loans to the platform today, reducing the unlent cash to around £700k, so a much better position IMO.
The average LTV has reduced from 29% to 26%.
The rate of incoming funds is continuing to escalate, as is the average amount per investor.
Will done Loanpad.
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Post by nooneere on Aug 6, 2020 17:06:00 GMT
And a big milestone reached today - they have >£10M lent out (£10.96M in fact). And there will soon be 2000 lenders. Interesting to check their performance against these "9 signs that a loan originator can survive COVID-19" from explorep2p.com/survive/ |
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Ukmikk
Member of DD Central
Posts: 452 
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Loanpad
Aug 7, 2020 11:37:11 GMT
via mobile
Post by Ukmikk on Aug 7, 2020 11:37:11 GMT
The rate of incoming funds is continuing to escalate, as is the average amount per investor. Which is not such good news, as it could lead to further reduction in rates paid to lenders, which are already significantly down.
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rocky1
Member of DD Central
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Post by rocky1 on Aug 7, 2020 11:52:56 GMT
loanpad pay interest on funds not lent out.good for lenders not so good for platform.i have held back from all p2p lending for the time being but was thinking of topping up loanpad but keep looking at my nearly £900 of unlent funds for over a month now and questioning whether or not to commit
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Post by Ace on Aug 7, 2020 12:13:07 GMT
loanpad pay interest on funds not lent out.good for lenders not so good for platform.i have held back from all p2p lending for the time being but was thinking of topping up loanpad but keep looking at my nearly £900 of unlent funds for over a month now and questioning whether or not to commit Unless you have concerns about the platform you might as well put your cash in while you're thinking about it. They've honoured all of my withdrawal requests within a day throughout the CV-19 crisis. Those unlent funds provide lots of liquidity ATM. If you put it in the Premium Account it only takes 40 days to earn the early release fee.
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morris
Member of DD Central
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Post by morris on Aug 9, 2020 6:32:39 GMT
Loanpad continue to promote a welcome bonus of £100 to new investors on their twitter feed despite the high level of new investors and deposits,
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Post by Ace on Aug 9, 2020 7:16:24 GMT
Loanpad continue to promote a welcome bonus of £100 to new investors on their twitter feed despite the high level of new investors and deposits, True, but the bonuses are much lower than they were. And they've recently disabled the instant access from premium account for the 0.5% fee as they are back to a higher level of deployment.
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Post by Badly Drawn Stickman on Aug 9, 2020 7:23:47 GMT
Loanpad continue to promote a welcome bonus of £100 to new investors on their twitter feed despite the high level of new investors and deposits, In the document outlining their business plans (which they were very keen not to be shown on here), they had outlined very aggressive growth targets so not really a surprise. There is a subtle but ongoing widening of lending parameters, and I suspect a second rate realignment coming (the last one being without any real notice period). I still have funds on the platform, but keep a fairly close eye on the 'small changes'.
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Post by nooneere on Aug 9, 2020 8:12:27 GMT
In the document outlining their business plans (which they were very keen not to be shown on here), they had outlined very aggressive growth targets so not really a surprise. There is a subtle but ongoing widening of lending parameters, and I suspect a second rate realignment coming (the last one being without any real notice period). I still have funds on the platform, but keep a fairly close eye on the 'small changes'. Rate realignments do not fit well with very aggressive growth targets. What the banks have always done is run a high interest rate until they meet their uptake target, and then boost profits by cutting the rate (Marcus being a recent prominent example).
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Post by Badly Drawn Stickman on Aug 9, 2020 8:19:12 GMT
In the document outlining their business plans (which they were very keen not to be shown on here), they had outlined very aggressive growth targets so not really a surprise. There is a subtle but ongoing widening of lending parameters, and I suspect a second rate realignment coming (the last one being without any real notice period). I still have funds on the platform, but keep a fairly close eye on the 'small changes'. Rate realignments do not fit well with very aggressive growth targets. What the banks have always done is run a high interest rate until they meet their uptake target, and then boost profits by cutting the rate (Marcus being a recent prominent example). Is it not relative? If everybody else is cutting off both your legs, the one only asking for one seems reasonable.
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Post by nooneere on Aug 9, 2020 12:03:12 GMT
Is it not relative? If everybody else is cutting off both your legs, the one only asking for one seems reasonable. That would make me hopping mad.
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