zlb
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Post by zlb on Aug 14, 2020 14:19:24 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 would hope so, that they aren't lending to people who don't actually know how to build large properties of these kinds of value build cost, unlike has happened elsewhere.
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zlb
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Post by zlb on Aug 14, 2020 14:28:11 GMT
Good news, but I can't help but wonder if they're finding it harder to deploy funds. They recently adjusted the referral scheme to make it less generous, and are currently paying investors Interest on over £1.2m of uninvested funds. Which also explains why they're happy to give instant access to premium account funds for a small fee. A new (extra) lending partner would help. Totaly agree with the above Ace as long as the new partners are as good as the Handf's. Just re read the july update email and they state they have a v good pipeline of new loans over the next few weeks, perhaps they could put some details on the upcoming loans tab. This is my favorite platform by far so i hope they continue the good work. I know that LP offers protection to p2p investors, but if there's growth, how can one tell that the builders, surveyors (e.g. fire regulations knowledge) etc are up to the job? It's one thing having the sale value drop, and another that the building be unsaleable as has happened elsewhere - which is only revealed too far along the line.
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Post by Ace on Aug 14, 2020 14:40:50 GMT
Totaly agree with the above Ace as long as the new partners are as good as the Handf's. Just re read the july update email and they state they have a v good pipeline of new loans over the next few weeks, perhaps they could put some details on the upcoming loans tab. This is my favorite platform by far so i hope they continue the good work. I know that LP offers protection to p2p investors, but if there's growth, how can one tell that the builders, surveyors (e.g. fire regulations knowledge) etc are up to the job? It's one thing having the sale value drop, and another that the building be unsaleable as has happened elsewhere - which is only revealed too far along the line. That risk is at least partly mitigated by LP's position as the senior lender. It's in the lending partner's interest to ensure that the problems that you have mentioned don't happen, as they stand to lose all of their investment before LP lenders lose a penny. So far the lending partner has an unblemished record of achieving this.
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IFISAcava
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Post by IFISAcava on Sept 2, 2020 14:31:03 GMT
Further reduction in loan pad rates just announced - step down to 3.0% in instant and 4.0% in 60-day accounts by December
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firedog
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Post by firedog on Sept 2, 2020 15:07:49 GMT
At least they've given a decent amount of notice this time
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 2, 2020 15:47:19 GMT
Loanpad is probably the safest platform but it's not risk free. The difference between them and Government backed bonds is now too small to justify any level of risk.
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rocky1
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Post by rocky1 on Sept 2, 2020 15:53:14 GMT
new partners dont seem to be up for much either.i worry that we could end up in a FS situation further down the line.
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Post by Ace on Sept 2, 2020 16:01:21 GMT
Loanpad is probably the safest platform but it's not risk free. The difference between them and Government backed bonds is now too small to justify any level of risk. I agree that is approaching that point, but it's not quite there for me. It's still 3 times better than the best protected accounts with similar nominal notice. I'm staying put, but will probably be adding less than I would have done.
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Post by Ace on Sept 2, 2020 16:05:33 GMT
new partners dont seem to be up for much either.i worry that we could end up in a FS situation further down the line. Would you care to elaborate? Loanpad don't remind me of FS, but I could easily be missing something.
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IFISAcava
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Post by IFISAcava on Sept 2, 2020 16:41:16 GMT
Loanpad is probably the safest platform but it's not risk free. The difference between them and Government backed bonds is now too small to justify any level of risk. Yes, I like Loanpad but I don't think it's enough to stay for me, although I might well be tempted for the purposes of diversification if wasn't stuck in other property loans on other platforms.
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Post by nooneere on Sept 2, 2020 16:58:01 GMT
Loanpad is probably the safest platform but it's not risk free. The difference between them and Government backed bonds is now too small to justify any level of risk. Yes, I like Loanpad but I don't think it's enough to stay for me, although I might well be tempted for the purposes of diversification if wasn't stuck in other property loans on other platforms. iShares UK Gilts All Stocks Index is down 3.5% over the past month. Government backed bonds are not risk free for short-term 'savings'.
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rocky1
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Post by rocky1 on Sept 2, 2020 16:59:19 GMT
new partners dont seem to be up for much either.i worry that we could end up in a FS situation further down the line. Would you care to elaborate? Loanpad don't remind me of FS, but I could easily be missing something. maybe a bit harsh on loanpad and i still have a fair sum in premium just rolling along.this new partners credentials just dont seem to add up for me and the director who has resigned has plenty of history.i think loanpad could have made a better choice with who they are jumping into bed with.as we know with some loans 100% losses are possible and these new people will of course look to originate and fund {our money} plenty of new loans.lowering rates does not make these loans or the borrowers any less risky.
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IFISAcava
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Post by IFISAcava on Sept 2, 2020 17:39:10 GMT
Yes, I like Loanpad but I don't think it's enough to stay for me, although I might well be tempted for the purposes of diversification if wasn't stuck in other property loans on other platforms. iShares UK Gilts All Stocks Index is down 3.5% over the past month. Government backed bonds are not risk free for short-term 'savings'. Agreed also - not sure I'd swap into Gilts.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 2, 2020 18:07:12 GMT
Loanpad is probably the safest platform but it's not risk free. The difference between them and Government backed bonds is now too small to justify any level of risk. I agree that is approaching that point, but it's not quite there for me. It's still 3 times better than the best protected accounts with similar nominal notice. I'm staying put, but will probably be adding less than I would have done. Yes, but 3 times very little is still very little. The margin for any sort of hiccup is wafer thin.
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Post by Badly Drawn Stickman on Sept 2, 2020 18:45:43 GMT
I agree that is approaching that point, but it's not quite there for me. It's still 3 times better than the best protected accounts with similar nominal notice. I'm staying put, but will probably be adding less than I would have done. Yes, but 3 times very little is still very little. The margin for any sort of hiccup is wafer thin. I tend to agree, the risk and by association the rate are in relation to the loan type not what banks are paying in interest, Given I foresaw a rate cut about a page ago in this thread I can't claim any surprise that they have done it. I suspect many will be happy to go with it, for me it will no longer reflect the possible downside.
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