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Post by twam on Sept 4, 2018 10:07:31 GMT
Today lendy have said the reason they dropped from 50 grand to 10 grand, was so more people could get involved, and have announced within the next two weeks the offer of an ISA, wonder how many people will be interested in loosing more money.
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elliotn
Member of DD Central
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Post by elliotn on Sept 4, 2018 12:40:51 GMT
Let's hope there are some souls out there willing to dip into the ISA, for the sake of everyone currently giving Ly their interest on the SM.
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Balder
Member of DD Central
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Post by Balder on Sept 4, 2018 13:19:42 GMT
That's great zero interest tax free!
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rocky1
Member of DD Central
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Post by rocky1 on Sept 4, 2018 14:55:51 GMT
lendy IFISA cant wait to see the promotion/marketing for this.no doubt it will be market leading rates and the usual lendy T@Cs.my 20k is doing ok some where else.thanks but no thanks lendy.
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tx
Member of DD Central
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Post by tx on Sept 6, 2018 19:23:56 GMT
Is ISA offering part of Lendy classic or Lendy Wealth or mix of both?
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Isa
Sept 6, 2018 20:55:40 GMT
Post by GSV3MIaC on Sept 6, 2018 20:55:40 GMT
So far neither. We await an announcement ..
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tx
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Post by tx on Sept 6, 2018 22:01:26 GMT
Where was this Lendy IFISA info initially from? I didn’t get any email nor phone calls. Is it on website?
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Isa
Sept 7, 2018 6:14:35 GMT
via mobile
Post by twam on Sept 7, 2018 6:14:35 GMT
Where was this Lendy IFISA info initially from? I didn’t get any email nor phone calls. Is it on website? it was posted on the peer 2 peer forum news site, they send you an email daily with updates of every p2p business.
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withnell
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Post by withnell on Sept 7, 2018 8:57:57 GMT
I've just had a phonecall through from Lendy to sell the 6/10% accounts, guy mentioned they are launching ISA and Instant Access accounts soon. Interestingly the 10% account will be investing in separate assets from the current loan book
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Isa
Sept 7, 2018 9:29:05 GMT
via mobile
Post by twam on Sept 7, 2018 9:29:05 GMT
I've just had a phonecall through from Lendy to sell the 6/10% accounts, guy mentioned they are launching ISA and Instant Access accounts soon. Interestingly the 10% account will be investing in separate assets from the current loan book yes it will probably be bots and boating equipment.
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bloodycat
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Isa
Sept 7, 2018 11:14:17 GMT
Post by bloodycat on Sept 7, 2018 11:14:17 GMT
I've just had a phonecall through from Lendy to sell the 6/10% accounts, guy mentioned they are launching ISA and Instant Access accounts soon. Interestingly the 10% account will be investing in separate assets from the current loan book |Yes, they've been on to me as well.
I take their reassurances that lendy wealth will get better quality loans and better management with a pinch of salt.
I can't see any advantage in it for people like us who actively take an interest and want to pick what we invest in - probably good for those who would otherwise just use auto-investing all new loans.
It's definitely advantageous for lendy as people won't know what they are invested in sop will take much longer before problems become apparent, plus lendy can target borrowers who don't want their loans quite so publicly scrutenised. Also if they actually do pick their game up then they cream off a bit more profit (or can offer lower rates to borrowers if mostpeople opt for the 60 day notice account).
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Balder
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Isa
Sept 7, 2018 13:02:52 GMT
Post by Balder on Sept 7, 2018 13:02:52 GMT
I've just had a phonecall through from Lendy to sell the 6/10% accounts, guy mentioned they are launching ISA and Instant Access accounts soon. Interestingly the 10% account will be investing in separate assets from the current loan book |Yes, they've been on to me as well.
I take their reassurances that lendy wealth will get better quality loans and better management with a pinch of salt.
I can't see any advantage in it for people like us who actively take an interest and want to pick what we invest in - probably good for those who would otherwise just use auto-investing all new loans.
It's definitely advantageous for lendy as people won't know what they are invested in sop will take much longer before problems become apparent, plus lendy can target borrowers who don't want their loans quite so publicly scrutenised. Also if they actually do pick their game up then they cream off a bit more profit (or can offer lower rates to borrowers if mostpeople opt for the 60 day notice account).
Did they really say "better quality loans and better management" - if so that is an admission I'd be surprised they would make!
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empirica
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Isa
Sept 7, 2018 13:16:55 GMT
Post by empirica on Sept 7, 2018 13:16:55 GMT
|Yes, they've been on to me as well.
I take their reassurances that lendy wealth will get better quality loans and better management with a pinch of salt.
I can't see any advantage in it for people like us who actively take an interest and want to pick what we invest in - probably good for those who would otherwise just use auto-investing all new loans.
It's definitely advantageous for lendy as people won't know what they are invested in sop will take much longer before problems become apparent, plus lendy can target borrowers who don't want their loans quite so publicly scrutenised. Also if they actually do pick their game up then they cream off a bit more profit (or can offer lower rates to borrowers if mostpeople opt for the 60 day notice account).
Did they really say "better quality loans and better management" - if so that is an admission I'd be surprised they would make! If I get a call _ which I doubt given that although I have registered, I've yet to deposit any funds _ I'm tempted to ask at the beginning if the call is being recorded and then ask them for a transcript at the end.
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bloodycat
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Post by bloodycat on Sept 7, 2018 13:35:36 GMT
Did they really say "better quality loans and better management" - if so that is an admission I'd be surprised they would make!
Well they definitely intimated that the better loans were being reserved for Lendy Wealth when I said that the reason I had some uninvested funds was because I was already up to my limit on those loans that look ok. It was also stated that the accounts would be carefully monitored and managed.
I suspect that the people making the calls are on commission and will probably say whatever they think they can get away with to try and encourage people to buy in. The chap who called me back again after I had had a chance to look was definitely pissed off that someone else had already called me after I had registered (not that it actually gave me any more details than are available without registering for Lendy Wealth) as he insisted he was my investment relations manager (though since I can't remember what his name was and the other one sent me an email with her details, in the unlikely event I wish to talk to either of them it won't be him).
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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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Isa
Sept 7, 2018 14:09:07 GMT
ozboy likes this
Post by ilmoro on Sept 7, 2018 14:09:07 GMT
Well they definitely intimated that the better loans were being reserved for Lendy Wealth when I said that the reason I had some uninvested funds was because I was already up to my limit on those loans that look ok. It was also stated that the accounts would be carefully monitored and managed.
I suspect that the people making the calls are on commission and will probably say whatever they think they can get away with to try and encourage people to buy in. The chap who called me back again after I had had a chance to look was definitely pissed off that someone else had already called me after I had registered (not that it actually gave me any more details than are available without registering for Lendy Wealth) as he insisted he was my investment relations manager (though since I can't remember what his name was and the other one sent me an email with her details, in the unlikely event I wish to talk to either of them it won't be him).
Scott?
Im afraid I somewhat poo-poo'd the whole argument that they had better loans and better management. The lending criteria are much the same and I cant see them managing to generate the origination to allow decent diversification without tapping in the existing loan book. There seemed to be huge emphasis on the experience of the people they have brought in from banks, JP Morgan etc. They are also apparently looking at a AC style instant access account which would need a considerable ramping of origination.
That said new loans will inevitably be better than the legacy stuff at the moment but until they sort the legacy loans and get investor comms/information better they are going to struggle. Anyone doing a basic google search for Lendy will hit this place and the Emperor's New Clothes will be revealed in all their majesty
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