mrdc
Member of DD Central
Posts: 73
Likes: 33
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Post by mrdc on Feb 18, 2021 15:56:08 GMT
Average LTV now 41% and the last two loans to F partner was at 6.5%.
I'd like to think there will be no further reduction in our 4% of the cake.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,059
Likes: 618
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Post by dave4 on Feb 18, 2021 18:50:37 GMT
Loanpad crowdfunding on seedrz soon ish
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Post by Ace on Mar 4, 2021 12:43:45 GMT
Loanpad hit 50 live loans for the first time today. Average LTV is down to 38%. £1.6m unallocated funds on the platform (which still earn interest). Don't know why the early access from Premium account isn't available. (Tagging Loanpad for comment). |
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Post by df on Mar 15, 2021 21:02:33 GMT
Loanpad hit 50 live loans for the first time today. Average LTV is down to 38%. £1.6m unallocated funds on the platform (which still earn interest). Don't know why the early access from Premium account isn't available. (Tagging Loanpad for comment). I didn't know this. It was the case with Landbay (it took 6 months for my funds to get invested, but interest was paid from day 1) and is with AC's AA's. I was thinking about LP for a while and now considering to reinvest some or may be all of upcoming RS returns. Trying to grasp nuts and bolts and it sounds like a good option for me atm. Apart from the obvious (low rate, generic p2p risk etc.), are there any negative factors you would advise to consider.
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Post by Ace on Mar 15, 2021 22:51:22 GMT
Loanpad hit 50 live loans for the first time today. Average LTV is down to 38%. £1.6m unallocated funds on the platform (which still earn interest). Don't know why the early access from Premium account isn't available. (Tagging Loanpad for comment). I didn't know this. It was the case with Landbay (it took 6 months for my funds to get invested, but interest was paid from day 1) and is with AC's AA's. I was thinking about LP for a while and now considering to reinvest some or may be all of upcoming RS returns. Trying to grasp nuts and bolts and it sounds like a good option for me atm. Apart from the obvious (low rate, generic p2p risk etc.), are there any negative factors you would advise to consider. Other than the low rate, I really can't think of a negative right now with loanpad, and I can't really complain about the rates given the relatively solid security. Nuts and bolts wise its fairly simple. Funds are redistributed daily over all loans on the platform. Interest is paid daily. Withdrawals have always been paid either next day (Standard) or after 60 days notice (Premium). Premium notice can effectively be halved using rolling withdrawals. No interruption to withdrawals during covid. There was a bit of a worry in the past regarding lack of diversification. There were too few loans to feel comfortable, with single loans taking up to 15ish percent of platform funds, but that's not really an issue now there are over 50 loans on the platform. Also there was only a single lending parner for a while, but we're up to 5 now.
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Post by Harland Kearney on Mar 16, 2021 3:02:20 GMT
Not wanting to make a massive qoute for a small comment, but wanted to chip in.
I too can't think of any negatives with Loanpad, the only thing keeping me from investing more money into Loanpad is the lower rates is not particuarly attractive to me (not really Loanpads fault either). Unfontunely loanpad is still a peer to peer company and caution is still best advised.
I wish I could add more money but I have a strict P2P limit which is no more than 10% of my assets. Loanpad has me at about 7% with AC withdrawals filling the other 3%.
It seems more and more people are discovering this gem, I hope they are able to take advantage of the ISA frenzy. If they offer a bonus on the new ISA allowance I would not by shy to take advantage.
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Post by Ace on Mar 18, 2021 15:47:55 GMT
I’ ve only spent two nano-seconds looking at loanpad for the first time ever. I too can’t see anything wrong here for p2pers who love maturity transformation without knowing it’s name or saying it out loud. What’s not to love about maturity transformation; smooth no bad history of denied instant or term-served withdrawals until it all crashes into a tsunami of withdrawal requests in the face of a spooky credit event. Loanpad got through Black Swan 2020 without a hitch so why not extrapolate into the future. Only known historic maturity failures from other firms are the ones p2pers should have worried about. Plus local MPs, Lord Myners and the FCA have got everyone’s back. I daresay, going out on a limb, so far the management of the products is better than AC. - At least the max advertised term for borrowers is 24 months and not 60 months - and the instant product is more sensibly priced at 3% rather than 3.75% - plus there’s an account cap on the instant product of £20k. That’s three quick, obvious edges over AC’s flawed approach but not sure on its own that’s enough. Don’t claim to know everything or even enough about LoanPad to enter a debate with any fans but I’ve seen enough in my two-nano seconds to conclude it’s not for me. Each to their own understanding and risk-reward appetite. I'm a fan of Loanpad and feel that it deserves a little more than 2 nano-seconds of analysis. I'll have to bow to your greater knowledge of financial systems (I had to Google what "maturity transformation" meant). It turns out that I am indeed one of the p2pers described in your second sentence. Despite your heavy sarcasm of such investors, I'm very comfortable with this. As I've said before, l feel that it's fine to use the likes of Loanpad as a high interest savings account with the one very strong caveat that you absolutely do not rely on "normal market conditions" being operative when you wish to withdraw. The fact that they have managed to maintain "normal market conditions" throughout covid is a testament to the skillful design and management of the platform. I accept that the next crisis may be different. I agree with your stated advantages over AC, but feel that its worth digging a bit deeper into the first point (max loan term) as it points to a much rosier position than might be expected. Of the 57 extant loans on the platform: - 4.4% of funds on the platform (~£1m) are unassigned to loans, so immediately available for withdrawals (but still earning interest for investors).
- 11 loans (~£4.2m), representing 18.1% of funds, are less than 60 days from maturity, so can likely be used to service withdrawal requests from the Premium accounts.
- 39 loans (~£14.6m), representing 58.1% of funds, are between 60 days and 12 months from maturity.
- 6 loans (~£3.1m), representing 13.1% of funds, are between 12 and 15 months from maturity.
- Only 1 loan (£1.5m), representing 6.4% of funds, has more than 15 months to maturity (its 21 months).
So, although the maximum loan term is 24 months, the average term to maturity is much less, as most loans are for way less than that (I make it a little under 7 months).
Obviously, some of these loans are likely to need extensions, but that looks like an acceptable liquidity position that is commensurate with the rates being offered IMO. There is also some scope to increase rates to attract more funds if needed to further increase liquidity in a crisis.
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mrdc
Member of DD Central
Posts: 73
Likes: 33
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Post by mrdc on Mar 22, 2021 18:22:13 GMT
Not able to log in.
Anyone else having issues ?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,337 
Likes: 11,562
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Post by ilmoro on Mar 22, 2021 18:25:03 GMT
Not able to log in. Anyone else having issues ? Yes, can log in but dashboard not visible just the footer Edit Ok now
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,059
Likes: 618
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Post by dave4 on Mar 22, 2021 18:26:57 GMT
Just tried (especially for mrdc) platform working well. |
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mrdc
Member of DD Central
Posts: 73
Likes: 33
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Post by mrdc on Mar 22, 2021 18:31:18 GMT
Fine now but had same problem as ilmoro.
Thanks.
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withnell
Member of DD Central
Posts: 550
Likes: 491
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Post by withnell on Mar 23, 2021 18:21:29 GMT
Fine now but had same problem as ilmoro. Thanks. I've had it a few times recently with the missing middle content - a quick refresh has always fixed the problem
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Post by Ace on Mar 29, 2021 18:13:24 GMT
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Post by df on Apr 1, 2021 15:20:13 GMT
I didn't know this. It was the case with Landbay (it took 6 months for my funds to get invested, but interest was paid from day 1) and is with AC's AA's. I was thinking about LP for a while and now considering to reinvest some or may be all of upcoming RS returns. Trying to grasp nuts and bolts and it sounds like a good option for me atm. Apart from the obvious (low rate, generic p2p risk etc.), are there any negative factors you would advise to consider. Other than the low rate, I really can't think of a negative right now with loanpad, and I can't really complain about the rates given the relatively solid security. Nuts and bolts wise its fairly simple. Funds are redistributed daily over all loans on the platform. Interest is paid daily. Withdrawals have always been paid either next day (Standard) or after 60 days notice (Premium). Premium notice can effectively be halved using rolling withdrawals. No interruption to withdrawals during covid. There was a bit of a worry in the past regarding lack of diversification. There were too few loans to feel comfortable, with single loans taking up to 15ish percent of platform funds, but that's not really an issue now there are over 50 loans on the platform. Also there was only a single lending parner for a while, but we're up to 5 now. I was using rolling withdrawals on 90-30-day on AC, I had small withdrawals arriving daily to my cash account. Can it be done on LP?
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Loanpad
Apr 1, 2021 15:30:57 GMT
df likes this
Post by Ace on Apr 1, 2021 15:30:57 GMT
Other than the low rate, I really can't think of a negative right now with loanpad, and I can't really complain about the rates given the relatively solid security. Nuts and bolts wise its fairly simple. Funds are redistributed daily over all loans on the platform. Interest is paid daily. Withdrawals have always been paid either next day (Standard) or after 60 days notice (Premium). Premium notice can effectively be halved using rolling withdrawals. No interruption to withdrawals during covid. There was a bit of a worry in the past regarding lack of diversification. There were too few loans to feel comfortable, with single loans taking up to 15ish percent of platform funds, but that's not really an issue now there are over 50 loans on the platform. Also there was only a single lending parner for a while, but we're up to 5 now. I was using rolling withdrawals on 90-30-day on AC, I had small withdrawals arriving daily to my cash account. Can it be done on LP? Yes. I use weekly rolling withdrawals on Loanpad, but nothing to stop you doing it daily.
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