boundah
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Post by boundah on Aug 5, 2018 17:54:27 GMT
I'm privileged. Lendy have just sent me an invitation to join 'Lendy Wealth':
'As you would have read, Lendy are launching two new products under the new brand of Lendy Wealth at Lendy Cowes Week this month. Initial interest has so far proved very strong.
These new accounts are designed for sophisticated investors, who are typically asset rich but time poor, and provide a market-leading interest rate through investment in a diversified portfolio of secured property loans managed by a dedicated account manager.'
They clearly have a sense of humour.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 5, 2018 18:04:13 GMT
"provide a market-leading interest rate through investment in a diversified portfolio of secured property loans managed by a dedicated account manager."
They'd be a MASSIVE hit at the London Comedy Clubs.
I just fell off my chair, have tears streaming down my face and am hoarse from laughter.
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agent69
Member of DD Central
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Post by agent69 on Aug 5, 2018 18:22:22 GMT
"provide a market-leading interest rate through investment in a diversified portfolio of secured property loans managed by a dedicated account manager."They'd be a MASSIVE hit at the London Comedy Clubs. I just fell off my chair, have tears streaming down my face and am hoarse from laughter. I assume you won't be subscribing?
Careful you don't get trampled on in the rush
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Aug 5, 2018 18:30:13 GMT
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rocky1
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Post by rocky1 on Aug 5, 2018 19:18:54 GMT
would any IFA really recommend these LENDY products as part of a divisified portfolio.stocks and shares ,casino, bookies, online gaming sites.all better odds than giving your money to these jumped up charletons.
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empirica
Member of DD Central
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Post by empirica on Aug 5, 2018 20:52:51 GMT
would any IFA really recommend these LENDY products as part of a divisified portfolio.stocks and shares ,casino, bookies, online gaming sites.all better odds than giving your money to these jumped up charletons. Lendy recommend all potential investors ask one and find out for themselves. If you don't, then obviously it's completely your own fault if you choose to invest. 
PS: Not sure misspelling 'charlatans' is a defence against defamation 
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invester
P2P Blogger
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Post by invester on Aug 5, 2018 22:48:46 GMT
I got the email.
I gotta say the first offering doesn't really appeal - you can get fairly close to this on other sites like RS, LW, Assetz.
The second one is fairly interesting though. The question is academic because the vast majority of my investments now are tied up in non-performing loans. But would I accept a 2% cut for a black-box model? I definitely would. I just don't see, even with 365 day access how they will deliver these kind of returns. The long-term real interest rate is much below 12% IMO because of the fact that many loans end up overdue and interest is lost when they are concluded.
I just question why Lendy are doing this. Only 20 people signing up means a minimum of £1m entering the platform. 100 people would be at least £5m. The secondary market features some real bargepole jobs so I can't see much being put on there.
Could Lendy be entering the development game themselves, either directly or not? It would seem an appropriate use for excess cash and they would not have to worry about any rogue borrowers.
Perhaps there is the opportunity? I don't think any P2P platforms finance developments that they are doing themselves, it always seems to be for a guy who can't get finance anywhere else.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 6, 2018 6:15:08 GMT
<snip>. I just question why Lendy are doing this. Only 20 people signing up means a minimum of £1m entering the platform. 100 people would be at least £5m. The secondary market features some real bargepole jobs so I can't see much being put on there. <snip> I would have thought that is the very reason they were doing it; with automatic allocation the unsuspecting investors wouldn't know what was happening until much later! I was with LC when they introduced auto-invest options, and they actually trumpeted how quickly to full investment (days!) at 5% diversification, so must have been hoovering the SM.
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Post by Deleted on Aug 6, 2018 6:41:38 GMT
I just have this image of multiple loans on the same building.... which then goes t@ts up.
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gareot
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Post by gareot on Aug 6, 2018 6:57:47 GMT
I would imagine they'll buy into development loans that the big boys are in leaving the dross for us. Similar model as PC which seems to work successfully for them.
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Post by GSV3MIaC on Aug 6, 2018 7:20:26 GMT
I suspect it is the only way they are going to fill tranches n, n+1, etc of big DFLs. Just don"'t ask about diversification.
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lara
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Post by lara on Aug 6, 2018 8:27:44 GMT
I wouldn’t touch it. Lendy doesn’t have the deal flow like funding circle to be able to make any kind of believable promises about likely return and after experiencing the illiquidity and inflexibility of automated accounts on Assetz Capital i fear this could be the worst of both worlds. Sorry to jump in here with an unrelated question but I have just started investing with AC. When you mention the illiquidity of their automated accounts, are you talking about the 30DAA and the QAA?
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pom
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Post by pom on Aug 6, 2018 8:29:38 GMT
I suspect it is the only way they are going to fill tranches n, n+1, etc of big DFLs. Just don"'t ask about diversification. But that's fine because they promise they'll rebalance later, when there's sure to be more demand for the behemoth loans... Almost tempted to stop ignoring their requests as to what type of investor I am just to see if I get an invite...but since I really don't want any more to do with them once Exeter concludes I think I'll pass.
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Post by charliebrown on Aug 6, 2018 11:43:29 GMT
I guess I’d be one of those they’re targeting. I could stump up 50k (without selling my house and notwithstanding the fact that I have many times that amount stuck in existing defaulted LY loan). However, having experienced LY over the last 2 years, why would I? Why would anyone? Where is this “strong interest” they refer to coming from? They’re offering up to 10%, with “up to” being the important terminology. There’s no way LY can return 10% based on their current performance. Also, once a loan defaults it cannot be sold and experience suggests it often takes much longer than 365 days to resolve so how are they going to give people their money back after 365 days?
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Post by portlandbill on Aug 6, 2018 12:45:47 GMT
I just question why Lendy are doing this. Only 20 people signing up means a minimum of £1m entering the platform. 100 people would be at least £5m. I predict they'll just take the money and run.
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