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Post by thecleaner on Jul 11, 2018 10:01:59 GMT
Maybe. But based on your relative personal lending experiences, and in particular returns earned after losses, on Lendy and Collateral, which would you say has been the most successful? So FCA approval, although a legal requirement, doesn't especially excite me. I don’t really understand your point. So far, I’ve lost nothing on either platform but I’d currently gauge the chances of my losing money on COL (who weren’t FCA authorised despite claiming they were) rather higher than on Lendy. Whatever you think of the FCA, or Lendy for that matter, obtaining full FCA authorisation is a massive amount of work and is a huge milestone for any regulated financial business. I think that deserves congratulating. Also it should now free up some of Lendy’s resources and time to focus on the rest of the business. I’ve lost nothing on either platform I am afraid to say it but that is all yet to come Lets hope the FCA appointment will indeed help us all out when things start to go belly up at Lendy They are not doing a lot for my confidence with the Collateral saga.
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greatmarko
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Post by greatmarko on Jul 11, 2018 10:05:14 GMT
... Whatever you think of the FCA, or Lendy for that matter, obtaining full FCA authorisation is a massive amount of work and is a huge milestone for any regulated financial business. I think that deserves congratulating. Also it should now free up some of Lendy’s resources and time to focus on the rest of the business. ..or Cowes week(!)
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copacetic
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Post by copacetic on Jul 11, 2018 10:43:13 GMT
Congratulations Lendy, that was no doubt a slow and frustrating exercise I'm sure you're glad to see the back of.
This was one of the things I wanted to see before investing new money again. The other was the type of loans being offered - do you have any plans to seek out borrowers for smaller bridging loans in the range of £100-500k? Higher liquidity and more more easily compared security would be something I'd be more likely to invest in than another multimillion pound development.
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Post by Paul70 on Jul 11, 2018 10:57:45 GMT
Thanks copacetic. Your comments are very much appreciated. I've passed your query to our Lending Team for a response. In the meantime thanks again for taking the time to post. Paul64 |
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susan
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Post by susan on Jul 11, 2018 11:06:37 GMT
Congratulations Lendy, I am really pleased that your FCA authorisation has come through.  |
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Post by Paul70 on Jul 11, 2018 11:10:08 GMT
Thanks for taking the time to send this message susan. It's very much appreciated. |
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jwatson
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Post by jwatson on Jul 11, 2018 11:45:42 GMT
It's also good to see Lendy engaging on this forum again |
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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
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Post by ilmoro on Jul 11, 2018 11:52:09 GMT
Congratulations.
Can I ask if you have now applied to HMRC for ISA Manager status and when you expect to launch an IFISA?
NB Authorised entry is now viewable on FCA register. Lendy have hold/control CM permission and electronic platform for purpose of lending
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sl75
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Post by sl75 on Jul 11, 2018 12:09:33 GMT
Perhaps just in time to update all the marketing materials to be distributed during Cowes Week?
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Post by westcountryfunder on Jul 11, 2018 12:10:20 GMT
Maybe. But based on your relative personal lending experiences, and in particular returns earned after losses, on Lendy and Collateral, which would you say has been the most successful? So FCA approval, although a legal requirement, doesn't especially excite me. I don’t really understand your point. So far, I’ve lost nothing on either platform but I’d currently gauge the chances of my losing money on COL (who weren’t FCA authorised despite claiming they were) rather higher than on Lendy. Whatever you think of the FCA, or Lendy for that matter, obtaining full FCA authorisation is a massive amount of work and is a huge milestone for any regulated financial business. I think that deserves congratulating. Also it should now free up some of Lendy’s resources and time to focus on the rest of the business. Well after all the fully justified criticism which has been directed at Lendy over a long time concerning (among others) the two Exeter loans, I am amazed to see, to judge from most of the last few posts, that Lendy is now top-of-the pops. Speaking for myself, the Exeter loans look likely to result in my largest P2P losses so far on any platform, so full FCA authorisation doesn't greatly impress me. The irony is that Collateral, even though it has fallen foul of FCA regulations had caused me no losses. It may do so now only as a direct consequence of FCA intervention. OK, so now Lendy has FCA authorisation. I don't see that it means they will be any better at initiating loans and running the loan book.
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Post by Paul70 on Jul 11, 2018 12:33:12 GMT
It's also good to see Lendy engaging on this forum again Thanks jwatson. As Head of Compliance there are topics that I can't discuss publicly, but this one causes no issues whatsover. Thanks again for your interest.
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Jeepers
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Post by Jeepers on Jul 11, 2018 12:38:05 GMT
It's also good to see Lendy engaging on this forum again Thanks jwatson. As Head of Compliance there are topics that I can't discuss publicly, but this one causes no issues whatsover. Thanks again for your interest. Does that cover everything then? Plenty of questions have been asked regarding the offer on DFL004.
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Post by Paul70 on Jul 11, 2018 12:39:32 GMT
Congratulations.
Can I ask if you have now applied to HMRC for ISA Manager status and when you expect to launch an IFISA?
NB Authorised entry is now viewable on FCA register. Lendy have hold/control CM permission and electronic platform for purpose of lending
Hi ilmoro. I can confirm that we haven't made an application to HMRC for ISA Manager status. We've had considerable interest from investors in launching an IFISA and I'll defer to Paul64 (who is our Head of Mearketing and PR) to provide an update if and when that's appropriate. Thanks for the heads up that the authorised entries are viewable on the FCA website. We did spot that earlier but we're always happy to be reminded of good news.
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Post by Paul70 on Jul 11, 2018 12:43:20 GMT
Thanks jwatson . As Head of Compliance there are topics that I can't discuss publicly, but this one causes no issues whatsover. Thanks again for your interest. Does that cover everything then? Plenty of questions have been asked regarding the offer on DFL004. It doesn't cover everything but i can't talk about specific loans I'm afraid Jeepers.
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Post by thecleaner on Jul 11, 2018 12:59:01 GMT
Does that cover everything then? Plenty of questions have been asked regarding the offer on DFL004. It doesn't cover everything but i can't talk about specific loans I'm afraid Jeepers . No Paul is correct. He cant discuss anything except for patting him and the rest of the Lendy team on the back for a internal job well done. Congrats Lendy
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