littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 17, 2018 18:08:38 GMT
For me, this is not good news. They can get FCSC protection because of the regulatory structure they have chosen, but the other side of that coin is that they can never offer an ISA. I would much rather receive interest tax free than have the very limited protection which is unlikely to be of any use.
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keith
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Post by keith on Sept 17, 2018 19:43:43 GMT
Fair point. Although the amount that can be placed in an ISA annually is limited to (post 2019) roughly 1/4 of the protection. So, I favour a portfolio approach across platforms. I would also add that all insurance is useless until you need it
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benaj
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Post by benaj on Sept 24, 2018 8:20:49 GMT
I started with LendInvest around in Oct 2016. So far, 17 loans have been fully repaid. Currently, I have 23 active loans, 19 on schedule and 4 out of breach. 0 capital losses yet. As today, I now have 21 loans fully repaid. Active loans breakdown: 19 on schedule, 1 out of breach. 0 capital losses yet.
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Post by carol167 on Sept 25, 2018 8:53:31 GMT
As of today I have only 6 loans left now .
4 are "Out of term/in breach" 2 are in enforecement.
I have been winding down from choice since October last year. Joined Jul 2015. (Max i ever had invested was 24k)
No capital losses so far.
If it stays that way and I get to zero I might actually start reinvesting again (unlike FS, Lendy and MT).
Even loses at this stage and I will have made a tidy sum.
I'd rather make a steady 6-7% with a platform that is just quietly getting on with it than try for a rollercoaster ride in the 10s and 12s% and end up hardly making anything at all....
I'd rather be a tortoise in the hare race. :-)
[Edit : that I've had a total of 256 loans fully repaid]
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zlb
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Post by zlb on Nov 6, 2018 13:59:32 GMT
Was just wondering about investing here, to see this thread. My query was, if they have 75% LTV max, that wouldn't cover valuation errors, but maybe the property type is easier to value than on other property or bridging platforms. Would it be the same for the bond...it's down to which loans you're in, does anyone know?
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benaj
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Post by benaj on Nov 9, 2018 6:56:46 GMT
Was just wondering about investing here, to see this thread. My query was, if they have 75% LTV max, that wouldn't cover valuation errors, but maybe the property type is easier to value than on other property or bridging platforms. Would it be the same for the bond...it's down to which loans you're in, does anyone know? Well regarding Valuation / VR, it’s important to do your own due diligence before investing. LendInvest does not provide VR documents on the platform, others do. The bottom line is, p2plending is riskier than FSCS bank savings. My 15 months experience with LendInvest is positive. 23 loans repaid. Even the late ones. Interest is paid monthly. I have 17 active loans with this platform, and 2 of them are “in breach”/late. No losses yet.
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bababill
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Post by bababill on Nov 10, 2018 7:09:56 GMT
Remember this isn't p2p lending and hence losses are not tax-deductible for personal accounts.
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benaj
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Post by benaj on Nov 10, 2018 8:27:04 GMT
Remember this isn't p2p lending and hence losses are not tax-deductible for personal accounts. Thanks! Before I signed up, LendInvest was advertised as "LendInvest is the world's largest peer-to-peer marketplace for real estate mortgages." web.archive.org/web/20150315231431/https://www.lendinvest.com/It's nice to know all these platforms evolves from time to time and all these FSCS protection and FCA authorisation means something else to investors.
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Post by carol167 on Nov 27, 2018 9:48:00 GMT
As of today I have only 6 loans left now .
4 are "Out of term/in breach" 2 are in enforecement.
I have been winding down from choice since October last year. Joined Jul 2015. (Max i ever had invested was 24k)
No capital losses so far.
If it stays that way and I get to zero I might actually start reinvesting again (unlike FS, Lendy and MT).
Even loses at this stage and I will have made a tidy sum.
I'd rather make a steady 6-7% with a platform that is just quietly getting on with it than try for a rollercoaster ride in the 10s and 12s% and end up hardly making anything at all....
I'd rather be a tortoise in the hare race. :-)
[Edit : that I've had a total of 256 loans fully repaid]
Update : Now Down to just the 1 in enforcement which looks like it's going to come good and zero out of term....
I've decided to actively start re-investing again in LendInvest. Unlike FS, MT and Lendy in which I am confident I will NEVER invest any further funds again - ever.
So... well done LI - seemingly doing a great job so far. I might never reach the same heady heights of over 24k again with them, but I am encouraged by how they have handled things in the three and a bit years I've been with them and am happy to now drip feed as opportunities arise.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Nov 27, 2018 11:06:05 GMT
As of today I have only 6 loans left now .
4 are "Out of term/in breach" 2 are in enforecement.
I have been winding down from choice since October last year. Joined Jul 2015. (Max i ever had invested was 24k)
No capital losses so far.
If it stays that way and I get to zero I might actually start reinvesting again (unlike FS, Lendy and MT).
Even loses at this stage and I will have made a tidy sum.
I'd rather make a steady 6-7% with a platform that is just quietly getting on with it than try for a rollercoaster ride in the 10s and 12s% and end up hardly making anything at all....
I'd rather be a tortoise in the hare race. :-)
[Edit : that I've had a total of 256 loans fully repaid]
Update : Now Down to just the 1 in enforcement which looks like it's going to come good and zero out of term....
I've decided to actively start re-investing again in LendInvest. Unlike FS, MT and Lendy in which I am confident I will NEVER invest any further funds again - ever.
So... well done LI - seemingly doing a great job so far. I might never reach the same heady heights of over 24k again with them, but I am encouraged by how they have handled things in the three and a bit years I've been with them and am happy to now drip feed as opportunities arise.
SNAP (again)! I have one in enforcement, all others (including many late and several in enforcement) paid in full including interest. Nor will I be returning to Lendy or FS. I think that I am generally drifting away from P2P, but the recovery rate on LI is impressive. My problem is that I don't fully understand the structure, or the company and how it interacts with the funds. More research by me before I return (and self certify).
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Nov 29, 2018 15:34:12 GMT
Update : Now Down to just the 1 in enforcement which looks like it's going to come good and zero out of term....
SNAP (again)! I have one in enforcement, all others (including many late and several in enforcement) paid in full including interest. Nor will I be returning to Lendy or FS. I think that I am generally drifting away from P2P, but the recovery rate on LI is impressive. My problem is that I don't fully understand the structure, or the company and how it interacts with the funds. More research by me before I return (and self certify). I spoke a day too early. Everything fully repaid including all interest. I am going to have to think hard and consider returning as they do seem to be a professional outfit (and I can't afford the minimum investment directly into the fund).
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Post by gravitykillz on Jan 22, 2019 16:09:54 GMT
Testing out this platform today with a investment of 1500. Set on auto invest with a 60% ltv with a max £100 per investment and minimum 5% rate. I understand it could take a month to get invested. But i prefer this to octopus choice if i am investing in property backed lending.
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benaj
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Post by benaj on Jan 22, 2019 17:29:19 GMT
I haven't tried "auto-invest", I prefer to pick my own. I usually have a look when a loan is listed. If I like the loan, I invest asap. I haven't lost a penny here. So far, 29 loans fully repaid, 2 in breach and 21 on schedule. My current XIRR is 6.27%.
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Post by gravitykillz on Jan 22, 2019 18:05:58 GMT
Thanks for the advice. I usually work 5 days a week and i presume these loans get filled up fast. I think i have set a reasonably safe criteria. A loans,60% ltv,minimum 5%, £100 per loan. But only issue is you have to give them a bank statement to set auto withdrawal? I bank online so its very rare to get any kind of statement. But its not impossible. Also i am presuming there is no kind of emergency withdrawal? You have to wait until the loans end.
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benaj
Member of DD Central
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Post by benaj on Jan 22, 2019 18:21:52 GMT
A lot of banks has gone digital, such as Starling. Don't worry, Online bank statements will be accepted.
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