|
|
Loanpad
Apr 5, 2019 7:35:08 GMT
via mobile
Post by gravitykillz on Apr 5, 2019 7:35:08 GMT
Would you say loanpad is safer than landbay as the ltv is much lower than landbay and yet loanpads interest rate is better.
|
|
|
|
Post by mrclondon on Apr 5, 2019 12:27:21 GMT
Would you say loanpad is safer than landbay as the ltv is much lower than landbay and yet loanpads interest rate is better. Hmm .... thats a bit like comparing apples and potatoes.
Landbay strapline "Invest in buy-to-let mortgages and earn regular monthly returns."
Loanpad FAQ: "We make loans to carefully vetted borrowers (companies or individuals) looking for short-term (3 to 18 months) property development, bridging or business funding."
Its valid to compare the LTV of one BTL mortgage with another, but not to compare the LTV of a BTL mortgage with that of a development project. Both the risk of default and the risk of loss on default are markedly different in the two asset classes, and is reflected in the rates being offered (not withstanding the low LTVs on Loanpad). The easy way to think of it is a BTL property should find a new tenant fairly quickly, or be able to be sold reasonably quickly, whereas a part built block of flats or a vacant plot of land (both example loanpad loans) might be very difficult to sell if the need arose to default the loan.
Whilst its not really sensible to attempt to compare any two p2p platforms with each other, the loanpad loans bear some similiarity with those you might find in AC's QAA/30DAA which offer comparable rates to Loanpad's
Whilst I'm posting on this thread, I'll add as an aside that the latest loan to be added (9825468) is to a company and hence the charge is visible at CH, and as expected given its a (very) recent drawdown, its in favour of "{lending parnter} and Loanpad Security Trustee Limited".
Disclosure: I'm a lender on Loanpad and AC but not on Landbay.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Apr 5, 2019 16:40:25 GMT
Has anyone managed to complete an ISA transfer into Loanpad. I posted the form over a month ago and have not had any acknowledgement. Fortunately the funds are in a Buildong Soc so still earning interest.
|
|
|
|
Post by gravitykillz on Apr 6, 2019 4:46:27 GMT
Is it possible for the mods to make a thread for loanpad ? Think they deserve there own thread ?
|
|
invester
P2P Blogger
Posts: 612 
Likes: 618
|
Post by invester on Apr 6, 2019 11:31:16 GMT
Yeah, I signed up and dipped a toe.
Is there any way to view properties that you have invested in? Without any further details I don't know if it could be another LCF.
|
|
|
|
Post by Loanpad on Apr 8, 2019 8:00:21 GMT
Has anyone managed to complete an ISA transfer into Loanpad. I posted the form over a month ago and have not had any acknowledgement. Fortunately the funds are in a Buildong Soc so still earning interest. Hi littleoldlady if you contact us at support@loanpad.com we’ll be able to look into that for you and confirm if your form was received. We acknowledge receipt of Transfer forms via email so any form sent a month ago that hasn’t been acknowledged probably wasn’t received. If you could email a copy to us (and re-send original) we’ll make sure your interest is back-dated as a goodwill gesture.
|
|
|
|
Post by Loanpad on Apr 8, 2019 8:01:11 GMT
Yeah, I signed up and dipped a toe. Is there any way to view properties that you have invested in? Without any further details I don't know if it could be another LCF. Hi invester if you go to the "My Loanbook" section of your dashboard you will see all your loans listed and the amount invested in each (updated daily). If you click on any loan ID number you’ll be able to see more details of each loan.
|
|
Ukmikk
Member of DD Central
Posts: 452
Likes: 306
|
Loanpad
Apr 8, 2019 8:32:12 GMT
via mobile
Post by Ukmikk on Apr 8, 2019 8:32:12 GMT
Yeah, I signed up and dipped a toe. Is there any way to view properties that you have invested in? Without any further details I don't know if it could be another LCF. Hi invester if you go to the "My Loanbook" section of your dashboard you will see all your loans listed and the amount invested in each (updated daily). If you click on any loan ID number you’ll be able to see more details of each loan. Hello Loanpad, I'm considering a transfer in. Could you tell me how many live loans there are currently, and how do you decide how much to allocate to each? Will all new investment be allocated or is there a wait for new money? Thanks.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
|
Post by ilmoro on Apr 8, 2019 9:39:15 GMT
Hi invester if you go to the "My Loanbook" section of your dashboard you will see all your loans listed and the amount invested in each (updated daily). If you click on any loan ID number you’ll be able to see more details of each loan. Hello Loanpad , I'm considering a transfer in. Could you tell me how many live loans there are currently, and how do you decide how much to allocate to each? Will all new investment be allocated or is there a wait for new money? Thanks. Currently 11 (5 in pipeline)
Money is allocated to all loans in the same ratio as the loan represents the total loan book eg a loan represent 22.5% of the total loan book so 22.5% of a lenders funds will be allocated to that loan. Rediversifies daily to reflect additional funds/new loans. There is a slight distortion as not all funds are allocated to loans, currently c5% is cash. However, all lender funds allocated to an account (classic or premier) earn interest even if not committed to loans.
Currently all new cash can be invested in an account so earns interest though, as above, not all may be allocated to loans. ie no drag.
|
|
Ukmikk
Member of DD Central
Posts: 452
Likes: 306
|
Loanpad
Apr 8, 2019 10:15:57 GMT
via mobile
Post by Ukmikk on Apr 8, 2019 10:15:57 GMT
Hello Loanpad , I'm considering a transfer in. Could you tell me how many live loans there are currently, and how do you decide how much to allocate to each? Will all new investment be allocated or is there a wait for new money? Thanks. Currently 11 (5 in pipeline)
Money is allocated to all loans in the same ratio as the loan represents the total loan book eg a loan represent 22.5% of the total loan book so 22.5% of a lenders funds will be allocated to that loan. Rediversifies daily to reflect additional funds/new loans. There is a slight distortion as not all funds are allocated to loans, currently c5% is cash. However, all lender funds allocated to an account (classic or premier) earn interest even if not committed to loans.
Currently all new cash can be invested in an account so earns interest though, as above, not all may be allocated to loans. ie no drag.
Thanks ilmoro, appreciated.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
|
Post by ilmoro on Apr 8, 2019 10:39:56 GMT
Currently 11 (5 in pipeline)
Money is allocated to all loans in the same ratio as the loan represents the total loan book eg a loan represent 22.5% of the total loan book so 22.5% of a lenders funds will be allocated to that loan. Rediversifies daily to reflect additional funds/new loans. There is a slight distortion as not all funds are allocated to loans, currently c5% is cash. However, all lender funds allocated to an account (classic or premier) earn interest even if not committed to loans.
Currently all new cash can be invested in an account so earns interest though, as above, not all may be allocated to loans. ie no drag.
Thanks ilmoro , appreciated. One thing I forgot. Funds in accounts are 'invested' at 12pm (working days) so any new funds would need to be allocated to the chosen account option before that point otherwise they remain pending and dont earn interest (I think). Interest is paid daily to cash so would require daily allocation to an account. Min is £10 so if its below that amount couldnt be reinvested immediately. So some potential for overall cash drag on the platform even if not on the actual sums invested in accounts. ie not quite eliminated like AC (assuming sweep on)
|
|
Ukmikk
Member of DD Central
Posts: 452
Likes: 306
|
Loanpad
Apr 8, 2019 10:54:20 GMT
via mobile
Post by Ukmikk on Apr 8, 2019 10:54:20 GMT
One thing I forgot. Funds in accounts are 'invested' at 12pm (working days) so any new funds would need to be allocated to the chosen account option before that point otherwise they remain pending and dont earn interest (I think). Interest is paid daily to cash so would require daily allocation to an account. Min is £10 so if its below that amount couldnt be reinvested immediately. So some potential for overall cash drag on the platform even if not on the actual sums invested in accounts. ie not quite eliminated like AC (assuming sweep on) I see, interesting thanks. I assume that lenders have already been asking for an auto-reinvest option for the interest payments? Manual sweeping sounds a bit of a faff.
|
|
|
|
Post by Loanpad on Apr 8, 2019 12:41:40 GMT
One thing I forgot. Funds in accounts are 'invested' at 12pm (working days) so any new funds would need to be allocated to the chosen account option before that point otherwise they remain pending and dont earn interest (I think). Interest is paid daily to cash so would require daily allocation to an account. Min is £10 so if its below that amount couldnt be reinvested immediately. So some potential for overall cash drag on the platform even if not on the actual sums invested in accounts. ie not quite eliminated like AC (assuming sweep on) I see, interesting thanks. I assume that lenders have already been asking for an auto-reinvest option for the interest payments? Manual sweeping sounds a bit of a faff. Hi Ukmikk we will soon be releasing the auto-invest and auto-withdraw features (as detailed in our FAQs). We cant be certain on timing yet but hopefully within a month or so. On the £10 multiples point that may be reduced to £1 shortly but that has not yet been confirmed.
|
|
|
|
Post by mrclondon on Apr 8, 2019 23:46:28 GMT
I'm getting fed up with the number of junk emails that loanpad sends out, so decided to investigate what could be done. It seems there are no privacy / marketing preferences on the website, but the FAQ helpfully states
"If you don't want to be contacted for marketing purposes, please tick the relevant boxes that you may find during the sign up process or use the ‘unsubscribe’ feature in our electronic communications to opt out if you have already opted in."
I didn't opt out when I first signed up, as an occaisonal (once a month max) newsletter from p2p platforms is fine. However, the constant bombardment from loanpad (or so it feels) is counter productive and is irritating me.
Unfortunately it seems that pressing unsubscribe on a loanpad email doesn't totally solve the problem as you have to also opt out of the Trustpilot emails separately.
Loanpad - it really would help if there was a master toggle within the website account section to be able to block ALL marketing emails. The next email I receive asking me to review yourselves is likely to result in a 1 star negative review. It would also be helpful if there was a setting to show that I do not consent to unsolicited marketing phone calls / texts etc.
|
|
Greenwood2
Member of DD Central
Posts: 4,376
Likes: 2,780
Member is Online
|
Post by Greenwood2 on Apr 9, 2019 7:05:51 GMT
I registered but only have 4.0% and 5.0% offered. Hi IFISAcava Sadly the early bird offer is no longer available as it was limited to the first 100 investors. We do hope to have some bonus offers in time for the new ISA year (2019/2020). Any sign of the bonus offers, would hate to add funds and then miss the bonus (if it happens).
|
|
