|
|
Post by GSV3MIaC on Aug 20, 2018 16:53:01 GMT
The "better loans" already went to Barclays / RBS / Santander / <etc> .. you are just debating dross vs worser dross, and even the more cunning forum members have trouble splitting those hairs. Fwiw there seems to be no statistical proof that other bulk vs retail P2P offerings (FC, for instance) have managed to pick cherries instead of turkeys.
|
|
|
|
Post by Ace on Aug 29, 2018 23:33:13 GMT
Lendy have dropped the minimum investment in their new "Wealth" product from £50k to £10k!!!
|
|
|
|
Post by p2plender on Aug 30, 2018 0:52:33 GMT
Deary me, after all that 'high level of interest' in the product...
Next news will probably be invest from as little as a £1.
|
|
rocky1
Member of DD Central
Posts: 1,139 
Likes: 1,963
|
Post by rocky1 on Aug 30, 2018 8:20:32 GMT
bit off topic but have to laugh at the FCAs advert on telly warning everybody about their savings and pension monies.geezer on the jet ski whilst people talked into parting by professional BSs.at least it is happening in full view in P2Pat the moment.i am not laughing in a funny way either, just cant believe i got sucked in so easily.
|
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on Aug 30, 2018 18:44:52 GMT
Reduced to £10k so reduced by 80 %. No doubt the spin will be "we have done this to permit less wealthy little people participate in the wonderful magic box".
Roll up watch your cash disappear before your very eyes.
Some might think that in the FCA's advert "the geezer on the jetski" appears to be heading towards Cowes.
|
|
|
|
Post by Ace on Aug 30, 2018 20:00:33 GMT
Reduced to £10k so reduced by 80 %. No doubt the spin will be "we have done this to permit less wealthy little people participate in the wonderful magic box".
Roll up watch your cash disappear before your very eyes.
Some might think that in the FCA's advert "the geezer on the jetski" appears to be heading towards Cowes. Perhaps Lendy's spin will be: "We haven't actually reduced the minimum investment, it's just that the current value of a £50k investment when Wealth was announced is now estimated to be worth £10k" 
|
|
|
|
Post by loftankerman on Aug 30, 2018 22:58:30 GMT
Lendy have dropped the minimum investment in their new "Wealth" product from £50k to £10k!!! That means they'll have to attract five times more punters than they previously anticipated. The question will of course be at what investment level does 'not with a bargepole' become 'worth a punt' ? Having money doesn't imply a penchant for indiscriminately parting with it. I would imagine that anyone happy to take a gamble could find something with better odds than those of a Lendy loan romping home a winner.
|
|
|
|
Post by p2plender on Aug 30, 2018 23:03:22 GMT
Perhaps Heather will take up the slack, after all she was 'very impressed with Lendy' at Cowes..
|
|
Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
|
Post by Monetus on Aug 30, 2018 23:07:24 GMT
Quite suprised that it has dropped by that much so quickly.
I guess that the level of interest must have been very low to justify such a drastic change just a few weeks after launch.
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Aug 31, 2018 8:38:42 GMT
Could just be a decent level of interest but of people saying they would go in but at a lower level?
To me this is a positive step - extra money coming in has the potential to add liquidity back into the SM. Means that those locked in to the "performing" loans can get out (eg I think that Shoreditch is a good egg, but if I wanted my cash out I'd have no chance) and get us back to the good old days!
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Aug 31, 2018 8:43:27 GMT
Could just be a decent level of interest but of people saying they would go in but at a lower level? To me this is a positive step - extra money coming in has the potential to add liquidity back into the SM. Means that those locked in to the "performing" loans can get out (eg I think that Shoreditch is a good egg, but if I wanted my cash out I'd have no chance) and get us back to the good old days! Until some of the wealth customers want out and the SM gets truly flooded...
|
|
dandy
Posts: 427
Likes: 341
|
Post by dandy on Aug 31, 2018 9:03:06 GMT
I see this as similar to QAA/30DAA in the sense that it is a 'house' account. It surprises me that platforms are allowed to have such conflicts of interests where they are actively managing some investors money in and amongst investors who are managing their own at a clear information disadvantage
Not suggesting they have or would do this but what is to stop QAA with its insider info selling down 'soon to be' bad loans to uninformed self selectors. Ditto Lendy wealth. It is a bit like the London Stock Exchange being allowed to manage investor funds whilst being the independent trading exchange for 3rd party investors too ...
|
|
invester
P2P Blogger
Posts: 612
Likes: 618
|
Post by invester on Aug 31, 2018 9:27:05 GMT
Dropping it so far smells of desperation to me.
In tandem with the accounts I do wonder if, potentially there could be cashflow issues.
There was c.£5m in the bank at the year end.
It seems to me that borrowers for the IOA loans pony up the interest up-front for the agreed term, but lenders are only paid this month by month.
Given that I can't see how Lendy's expenses would have shrunk and probably have gone up (staff costs and legal fees likely to be even higher) the period of 1/1/18 to 31/12/18 is surely going to be very poor compared to the previous 12 months.
Combined witb the poor sentiment from the current lender base (looking at speed of loan filling, rather than the forums) I think it looks bleak, I have no joy in saying that because I have money stuck in there.
|
|
hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
|
Post by hazellend on Aug 31, 2018 9:40:08 GMT
Lendy need to go back to the start, aim for less profit and go for smaller better quality loans.
|
|
|
|
Post by Deleted on Aug 31, 2018 11:15:38 GMT
dropping it so much shows how agile they are and how easily they can change direction and try things out, what Paul would call a USP.
|
|
