mrdc
Member of DD Central
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Post by mrdc on Apr 16, 2021 16:16:30 GMT
Loanpad staff must be busy at the moment with the increase in investors, loans and lending partners.
If they could find some time to put another column under live loans showing the lending partner for each loan i would find this very usefull.
They have a very good live data feed but it would be nice to see the percentage of loan book per lending partner in there.
I have been tracking this but probably not the most efficient way.
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alanh
Posts: 556
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Post by alanh on Apr 16, 2021 17:34:48 GMT
Thanks ace, ceejay. I take your points. I do think that there is less chance of these accounts turning into an Assetz style zombie/wind down account. The lower LTV's provide some comfort (although thats a whole different discussion...) and the lack of responsibility to fund future tranches is another massive advantage over AC. I think I may dip a small toe and see how it goes with the intention of getting out immediately at the merest whiff of any bad news.
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ceejay
Posts: 975 
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Post by ceejay on Apr 16, 2021 18:03:10 GMT
Thanks ace, ceejay. I take your points. I do think that there is less chance of these accounts turning into an Assetz style zombie/wind down account. The lower LTV's provide some comfort (although thats a whole different discussion...) and the lack of responsibility to fund future tranches is another massive advantage over AC. I think I may dip a small toe and see how it goes with the intention of getting out immediately at the merest whiff of any bad news. I can't say that this approach is wrong but can I just note in passing the inherent risk in a strategy that depends on "getting out immediately at the merest whiff of any bad news". If everyone did that - and if you think that your strategy is a good one then you should assume they will - then for most people it will fail, because it would put us straight into an RS/AC queue situation. Unless you think you have an insider edge, which seems like a dangerous assumption. I have some money in here but my assumption is that in the event of trouble I will have to wait for my money, relying on the relatively low LTVs to give me a high chance of getting it back eventually and the short loan time to make that not too long. (BTW, since we keep mentioning AC, I should probably say that I don't agree that they are zombie/wind down ... I'd say paused, but then I guess we don't need to repeat the whole AC debate on another board!)
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Loanpad
Apr 16, 2021 18:18:02 GMT
df likes this
Post by Ace on Apr 16, 2021 18:18:02 GMT
Thanks ace, ceejay. I take your points. I do think that there is less chance of these accounts turning into an Assetz style zombie/wind down account. The lower LTV's provide some comfort (although thats a whole different discussion...) and the lack of responsibility to fund future tranches is another massive advantage over AC. I think I may dip a small toe and see how it goes with the intention of getting out immediately at the merest whiff of any bad news. Another problem with that strategy is that it really limits you to only using the Classic account, so limited to £20k and only 3% return. I'm presuming the feature where you can pay a fee for instant access to the Premium account wouldn't be available in such circumstances. It hardly ever seems to be available anyway, even now when they have nearly £3.5m of funds that are unassigned to loans! Personally I do have a small amount of cash in Classic for a possible source of funds should I need them unexpectedly, but obviously don't rely on such access. The vast majority of my funds are in the Premium account, and I've never lost any sleep over it. If you do use the Premium account you might as well use rolling withdrawals to keep yourself near the front of exit queue.
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mrdc
Member of DD Central
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Post by mrdc on Apr 16, 2021 18:41:07 GMT
Thanks ace, ceejay. I take your points. I do think that there is less chance of these accounts turning into an Assetz style zombie/wind down account. The lower LTV's provide some comfort (although thats a whole different discussion...) and the lack of responsibility to fund future tranches is another massive advantage over AC. I think I may dip a small toe and see how it goes with the intention of getting out immediately at the merest whiff of any bad news. When i was considering Loanpad it struck me that possibly the existance of lending partners would help with wind down, particularly now there is more of them. The lending partner share of the loanbook at the moment is 58% and that gets lost first if there is a bad wind down. Even if one lending partner goes under there will be a considerable effort from the others to fight their corner. It wont be just us retail lenders on our own.
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Post by Harland Kearney on Apr 17, 2021 2:21:34 GMT
The cap on 20k on the instant access is clearly intentional, and for good reason.
Needless to say (myself included) with AC before COVID I was overly exposed to these accounts and I am not shy to say that the attraction was just too much to not put more than 20k of my cash dragged portfilio outside of equities. The risk of a lock in simply didn't seem possible before COVID with any real realism. A purposeful limit enables them to accurately predict the maximum amount of potential investments into this account and the on going mean with actual accurancy, unlike on AC no doubt.
I only invested in Loanpad because we saw for the first time just how these "Lending partners" would act in liquidity event. As we all know gurrantees and "Provision funds" are worth jack **** when it hits the fan in P2P, but clearly there is massive amount of credit due to Loan-pads handling of the portfilio during those darkest hours in P2P last year. The same cannot be said for the "sorry stuff larger investors" platform that was honestly shocking and has had me lose all faith in AC since. (Even though they "corrected" this mistake, but didn't really apolgise or anything it feels like.)
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alanh
Posts: 556
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Post by alanh on Apr 17, 2021 8:30:41 GMT
Thanks ace, ceejay. I take your points. I do think that there is less chance of these accounts turning into an Assetz style zombie/wind down account. The lower LTV's provide some comfort (although thats a whole different discussion...) and the lack of responsibility to fund future tranches is another massive advantage over AC. I think I may dip a small toe and see how it goes with the intention of getting out immediately at the merest whiff of any bad news. I can't say that this approach is wrong but can I just note in passing the inherent risk in a strategy that depends on "getting out immediately at the merest whiff of any bad news". If everyone did that - and if you think that your strategy is a good one then you should assume they will - then for most people it will fail, because it would put us straight into an RS/AC queue situation. Unless you think you have an insider edge, which seems like a dangerous assumption. I have some money in here but my assumption is that in the event of trouble I will have to wait for my money, relying on the relatively low LTVs to give me a high chance of getting it back eventually and the short loan time to make that not too long. (BTW, since we keep mentioning AC, I should probably say that I don't agree that they are zombie/wind down ... I'd say paused, but then I guess we don't need to repeat the whole AC debate on another board!) Yes, I do appreciate that my comment may have come across as me having/needing a crystal ball, but I should maybe explain. Last year, when covid came along and stock markets started dropping etc it became apparent that things were heading south and this was reflected in p2p via, for example, less liquidity in secondary markets etc. I used that as a trigger to liquidate virtually my entire portfolio and managed to get out of most of it, the notable exception being AC where I had money in the 30D notice account unfortunately. What I have learned from all this is probably: - don't have much money (if any) in p2p because when it goes wrong, it goes horribly wrong - if you do, keep it as liquid as possible - if you are unsure of something, get out and live to fight another day Hence a small amount in the LP instant access account could fit the bill.
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ashtondav
Member of DD Central
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Post by ashtondav on Apr 17, 2021 11:05:24 GMT
Nothing “horribly” wrong with ac unless you treated it like a bank account. Interest has accumulated nicely and is comfortably ahead of inflation. I’m glad this pandemic has shaken out the inappropriate lenders.
on the subject of loanpad, where I am a recent joiner, I’m so far very pleased.
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alanh
Posts: 556
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Post by alanh on Apr 17, 2021 11:46:11 GMT
errrr....... you've obviously not read the AC board
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dead-money
Rocket to the Moon
Posts: 747
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Post by dead-money on Apr 17, 2021 12:57:07 GMT
So under a week to complete transfer of IFISA cash from AC to LP. Invested in 60 day account, first rolling withdrawal notice setup. Job done, so simple, like how AC AAs used to be in the 'before' times. Let's hope there's no sinister black swans lurking in the bushes!
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Post by Harland Kearney on Apr 17, 2021 13:16:24 GMT
Nothing “horribly” wrong with ac unless you treated it like a bank account. Interest has accumulated nicely and is comfortably ahead of inflation. I’m glad this pandemic has shaken out the inappropriate lenders. on the subject of loanpad, where I am a recent joiner, I’m so far very pleased. Welcome aboard Loanpad! The AC Board shows quite a loss of confidence. True it could of gone worse and investors who sat on their hands and put their head in the sand hoping for the best will have come out non the wiser if they didn't read any of the confusing news pieces from AC. But for active investors who were trapped in these accounts, AC was not a happy place or board during the peak of the crisis and still isn't now. Evidently, most investors have been able to fully out now or are close (I'm only got 5% left of my orginal investment that I expect to be completely out by end of the month.) I won't ever touch AC accounts again, and it isn't because of liquididty. Its because of the way they treated investors and continue to treat/bend change rules every couple of months. Nothing like uncertainity! I also think its a bit of a jump to say they lost inappropriate investors, the main thing they appear to have lost is the large investors and litterly shaking them down at the start of the pandemic. They did also afterall advertise these accounts as "Quick Access" and still continue to do so with a very high cap on the amount individal investors can put in those accounts. Infact they increased the cap!
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dead-money
Rocket to the Moon
Posts: 747
Likes: 656
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Post by dead-money on Apr 17, 2021 13:38:56 GMT
Nothing “horribly” wrong with ac unless you treated it like a bank account. Interest has accumulated nicely and is comfortably ahead of inflation. I’m glad this pandemic has shaken out the inappropriate lenders. on the subject of loanpad, where I am a recent joiner, I’m so far very pleased. Welcome aboard Loanpad! The AC Board shows quite a loss of confidence. True it could of gone worse and investors who sat on their hands and put their head in the sand hoping for the best will have come out non the wiser if they didn't read any of the confusing news pieces from AC. But for active investors who were trapped in these accounts, AC was not a happy place or board during the peak of the crisis and still isn't now. Evidently, most investors have been able to fully out now or are close (I'm only got 5% left of my orginal investment that I expect to be completely out by end of the month.) I won't ever touch AC accounts again, and it isn't because of liquididty. Its because of the way they treated investors and continue to treat/bend change rules every couple of months. Nothing like uncertainity! I also think its a bit of a jump to say they lost inappropriate investors, the main thing they appear to have lost is the large investors and litterly shaking them down at the start of the pandemic. They did also afterall advertise these accounts as "Quick Access" and still continue to do so with a very high cap on the amount individal investors can put in those accounts. Infact they increased the cap!
The lock-in due to liquidity I'll forgive; the lack preparedness for the situation, both in terms of coding and customer communications is unforgiveable. AC are entitled to amend the rules of their game; but the continued gaslighting of lenders both in emails and on the forums showed a complete lack of respect and disregard for their then principal source of funds. Now that they've got institutional backing, I expect the retail P2P will become less and less important to them. Whilst they won't admit it's in winddown, I doubt it's going to be what launches Stuart's IPO exit strategy!
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Post by Harland Kearney on Apr 22, 2021 0:23:21 GMT
I have now maxed out my 20k allowance for easy access, keeping a close eye on the portfolio updates and growth but so far I am pretty confident in the long term future of the platform, enough that Loanpad is now my largest P2P investment to date.
Does anybody have any XP when you get paid your bonus for the 1% bonus on 10k reward? Is this exactly on the date you invested your lump sum or does it come within 30 days of that date ect? Thanks!
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Post by Ace on Apr 22, 2021 7:57:17 GMT
I have now maxed out my 20k allowance for easy access, keeping a close eye on the portfolio updates and growth but so far I am pretty confident in the long term future of the platform, enough that Loanpad is now my largest P2P investment to date. Does anybody have any XP when you get paid your bonus for the 1% bonus on 10k reward? Is this exactly on the date you invested your lump sum or does it come within 30 days of that date ect? Thanks! The bonus for being referred was paid exactly 1 year after my first qualifying investment, though terms state that it could be up to 14 days after this. The bonus for referring others was paid the day after they invested, but only if they invested in the Premium account.
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qwakuk
Member of DD Central
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Post by qwakuk on Apr 22, 2021 8:08:14 GMT
I have now maxed out my 20k allowance for easy access, keeping a close eye on the portfolio updates and growth but so far I am pretty confident in the long term future of the platform, enough that Loanpad is now my largest P2P investment to date. Does anybody have any XP when you get paid your bonus for the 1% bonus on 10k reward? Is this exactly on the date you invested your lump sum or does it come within 30 days of that date ect? Thanks! I am planning on doing this, but presumably the balance then goes over £20k when the daily interest is added. What settings do I need to use, as at present when the standard account gets to £10, it gets moved to premium
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