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 19, 2018 14:50:23 GMT
Advertising Standards or some other Authority needs to nail these p***ks. Once and for all.
Like most on here I am fed up to the back teeth of various Platforms' unproven and outrageous claims.
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empirica
Member of DD Central
Posts: 326
Likes: 235
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Post by empirica on Aug 19, 2018 15:44:43 GMT
The only thing I'm keeping an eye on is the 'introductory offer' label tagged onto the W365 product, as when the offer expires what will the new rate be? (What will Lendy feel is the 'real' target % return to be sufficiently attractive over a W60 product offering a capped max. 6%?)
That's IF the 'introductory offer' ever ends. It could well be a typical marketing ploy playing up to punters' fear of missing out and greed, which, to be honest, is pretty much what drives pretty much any market and P2P is certainly no different.
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Post by Deleted on Aug 19, 2018 15:57:44 GMT
I like the phrase "up to" it covers a multitude of sins
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Post by p2plender on Aug 20, 2018 3:15:00 GMT
Well I've spoken to around half a dozen hnwi who would not touch Lendy with a bargepole - 5 lend across various other p2p platforms, 2 have funds trapped in Lendy. This 'product' will actually be the downfall of Lendy. Unless they have miraculously secured some BHs from the dark beyond then I don't see a way forward for the platform. The latest fortnightly bs is the pits, the worst ever. Nothing has been done on W-lves - quite incredible goings on there but maybe not as incredible as Maryleb-ne.
I did once work for a boss who carried on the pretense that all was well and right up until we rolled up one morning to find the gates padlocked. Interestingly the day before he'd been enthusiastically showing me the new Jag E type brochure...
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Aug 20, 2018 6:53:43 GMT
Well I've spoken to around half a dozen hnwi who would not touch Lendy with a bargepole - 5 lend across various other p2p platforms, 2 have funds trapped in Lendy. Existing P2P lenders are hardly Lendy's target market. My guess is that 90%+ of HNWI have little or no understanding or experience of P2P lending and are much more comfortable with "packaged" investment products that look like the bonds / savings accounts they're used to. If Lendy could penetrate even 1% of this group, that would be a lot of money. (Incidentally, I note that 43 of your 45 posts over the last month have all been to criticise Lendy, yet IIRC you claim to have just one small holding of DFL004. Maybe you should broaden your horizons a little?)
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Post by p2plender on Aug 20, 2018 7:21:05 GMT
More the manner of how Lendy have managed my (final loan) investment. I managed my investments with Lendy very well over 2 years - I passed on the garbage I'd invested in onto the sm before it became clear how things were panning out. I had 6 figs in several loans so I could have really taken a bath if I'd trusted Lendy. Foolishly I believed Lendy were in control of my final investment (as well as being left in the queue before they suspended) - many experienced lenders thought the same as interestingly it was perceived as a 'better loan'. Maybe I'll broaden my horizons and spend some time counting posts... Sounds rewarding.
Also I need to find the 2 posts where I'm not negative and maybe edit those posts. Cheers for noting this.
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Post by red_panda on Aug 20, 2018 8:24:39 GMT
I'm trying to exist Lendy like most of us here. My withdrawals are at 51% of the deposit value and stuck with only defaults pending settlement. Am I doing fine or awful?
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on Aug 20, 2018 8:36:40 GMT
Wouldn't they, in effect, have to put a loan up for sale immediately after purchase to be able to get it sold on SM? Therefore this product does accrue interest when the loan is for sale, sort of thing. That's if it's direct investing.
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Aug 20, 2018 8:49:55 GMT
More the manner of how Lendy have managed my (final loan) investment. I managed my investments with Lendy very well over 2 years - I passed on the garbage I'd invested in onto the sm before it became clear how things were panning out. I had 6 figs in several loans so I could have really taken a bath if I'd trusted Lendy. Foolishly I believed Lendy were in control of my final investment (as well as being left in the queue before they suspended) - many experienced lenders thought the same as interestingly it was perceived as a 'better loan'. Maybe I'll broaden my horizons and spend some time counting posts... Sounds rewarding. Also I need to find the 2 posts where I'm not negative and maybe edit those posts. Cheers for noting this. Hmm, so you knowingly used to invest in "garbage", planning to sell to another sucker before term, but the blame for getting caught in DFL004 lies with Lendy?! No need to seek those other 2 posts; they were about Ratesetter Australia. Your 100% Lendy Trolling record remains unblemished.
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Post by loftankerman on Aug 20, 2018 8:56:52 GMT
Hands-off wealthy investors who don't have time to keep an eye on their investments? That pitch sounds likely to attract more unscrupulous borrowers who'd have no intention of paying back, than investors. I imagine they are already waiting in the wings rubbing their hands.
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Post by p2plender on Aug 20, 2018 9:52:24 GMT
Takes one to know one then Stevie boy.
I'll try and be more positve about Lendy in the future. No sorry can't find anything positive.
I'll stick to the negativity. Hope you're not too heavily exposed here...
49 posts now..
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Post by brightspark on Aug 20, 2018 10:30:49 GMT
I don't understand the benefit of lendywealth: - the 10% return is not guaranteed and will depend on the recovery. So 10% will be achieved if no defaults. - liquidity is not guaranteed either as funds can be locked if a borrower becomes "non performing" So why on earth would anyone use lendy wealth if it gives less return than lendy typical loans, but still keep all the associated risk of liquidity and loss of capital? LW will take the better loans, with the weaker dispensed to the small fry.
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Post by portlandbill on Aug 20, 2018 10:46:24 GMT
"The marketing for this product might just as well read "Give us your money, and at some unknown time in the future (determined by us) we might give you some interest (at a % determined by us), and/or we might or might not (determined by us) let you have some of your money back (determined by us), some time (determined by us)."
I wasn't joking when I wrote that.
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cwah
Member of DD Central
Posts: 949
Likes: 468
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Post by cwah on Aug 20, 2018 11:58:53 GMT
I don't understand the benefit of lendywealth: - the 10% return is not guaranteed and will depend on the recovery. So 10% will be achieved if no defaults. - liquidity is not guaranteed either as funds can be locked if a borrower becomes "non performing" So why on earth would anyone use lendy wealth if it gives less return than lendy typical loans, but still keep all the associated risk of liquidity and loss of capital? LW will take the better loans, with the weaker dispensed to the small fry. Where did you see that? If it's true it will be the only reason to get LW
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Post by Proptechfish on Aug 20, 2018 16:36:07 GMT
LW will take the better loans, with the weaker dispensed to the small fry. Where did you see that? If it's true it will be the only reason to get LW Thats been my suspicion since i heard about it
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