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Post by Deleted on Sept 8, 2018 13:09:23 GMT
Obviously there are many who would say there have been endless moments and signals that it's time to walk away from Lendy but despite all the shocking loans my return has remained at a level where I was content to hang around. However for me the fact that numerous people are now reporting that they've been told on the phone that Lendy are basically going to preserve their higher quality stuff for Lendy Wealth, signals time to wind down for me. This was obviously going to leak here so they clearly have no care about isolating self select customers and are assuming Lendy Wealth is their future no.1 product. I guess it would be way too much to hope for clarification from Paul64 where their products sit in relation to each other and in regards to whether they share loans or operate separately. Until then, in selling to others, they've put me off! |
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mary
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Post by mary on Sept 8, 2018 13:40:27 GMT
However for me the fact that numerous people are now reporting that they've been told on the phone that Lendy are basically going to preserve their higher quality stuff for Lendy Wealth, signals time to wind down for me. This was obviously going to leak here so they clearly have no care about isolating self select customers amd are assuming Lendy Wealth is their future no.1 product. Is that a joke? I’ve not seen anything high quality this year! In reality the quality property loans are being snapped up elsewhere, at rates significantly below Lendy’s.
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Post by d_saver on Sept 8, 2018 14:23:32 GMT
But, this all makes sense. Higher quality loans = lower rate of return.
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Post by charliebrown on Sept 8, 2018 14:29:00 GMT
But, this all makes sense. Higher quality loans = lower rate of return. That’s not the case. The majority of LY loans offered at lower rates of return have defaulted.
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Post by d_saver on Sept 8, 2018 14:46:03 GMT
Hey, I said 'higher quality', not 'high quality'  What I meant was, better quality sounding proposals and apparently more viable projects with less apparent risk will attract lower rates... |
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Sept 8, 2018 15:04:36 GMT
But, this all makes sense. Higher quality loans = lower rate of return. That’s not the case. The majority of LY loans offered at lower rates of return have defaulted. Not sure " The majority" is a correct description. LY rarely defaults anything. They may however be non-paying interest accruing + Bonus loans
P.S I have Mid £20K in LY when and if thy repay I move to Welendus
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ilmoro
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Post by ilmoro on Sept 8, 2018 17:41:29 GMT
But, this all makes sense. Higher quality loans = lower rate of return. That’s not the case. The majority of LY loans offered at lower rates of return have defaulted. Actually that's not true. Surprisingly relatively few of the lower rate loans have defaulted, though helped by the upping of the rate on several. I suspect if you'd diversely invested in the lower rate loans your rate of return may actually be better than in the higher rate loans. Not done any numbers but just a perception that has registered.
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shimself
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Post by shimself on Sept 9, 2018 10:41:53 GMT
But, this all makes sense. Higher quality loans = lower rate of return. That’s not the case. The majority of LY loans offered at lower rates of return have defaulted. Really? Have you got data?
I noted the same thing with REBS (where my A rated loans did worse than the B and C), my conclusion being if you (a dishonest borrower) were going to fiddle the figures you might as well do the job thoroughly.
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invester
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Post by invester on Sept 9, 2018 11:14:25 GMT
No data, but I also suspect that there may be correlation with loan size.
Valuation is far easier to get right on a £500k loan vs a £5m one.
I don't think many of the diddlers (ie <£500k) have had a commensurate number of problems.
The DFL model frankly is just not worth it for investment on the whole, as the borrower can simply choose to abandon it if things don't look like working out. That's before the people that have no intention of doing anything and just use the loan for a above market value sale.
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cwah
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Post by cwah on Sept 9, 2018 11:21:39 GMT
I remember Lendy called me few days ago to sell me Lendy wealth product.
They said it's a tool to help investor saving time doing due diligence. It was a very popular request.
I told them people wanted due diligence to be done for them, not removing it completely by spreading investment to all loans. And they just miss-understood what investors want!!
He said that Lendy wealth will have better loans and will report my feedback to management.
I suppose they need to do that to sell this product!
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ilmoro
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Post by ilmoro on Sept 9, 2018 12:31:30 GMT
So I count 45 loans issued at sub 12% - 7 were subsequently bumped to 12%+ (1 has repaid)
Of the remainder
5 @ 7% all repaid 8 @ 8% 7 repaid, 1 in claims 12 @ 9% 9 repaid, 1 in recovery, 2 live 8 @10% 4 repaid, 2 very late, 2 live 5 @11% 2 repaid, 1 a disaster loss, 1 in recovery (disaster pending), 1 late
So maybe a Wealth product investing in smaller, lower rate loans isnt a bad product. Unforunatately until Lendy get there comms, lender info, technical errors etc sorted its a non-starter for me.
There are some parallels to AC who had a bad patch with similar citicisims (less vocal) but Im yet to be convinced that Lendy have the plan or the skills to repeat AC's improvement. Time will tell.
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ozboy
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Post by ozboy on Sept 9, 2018 17:19:39 GMT
No data, but I also suspect that there may be correlation with loan size. Valuation is far easier to get right on a £500k loan vs a £5m one. I don't think many of the diddlers (ie <£500k) have had a commensurate number of problems. The DFL model frankly is just not worth it for investment on the whole, as the borrower can simply choose to abandon it if things don't look like working out. That's before the people that have no intention of doing anything and just use the loan for a above market value sale.Which certain parties are more than happy to knowingly facilitate. As long as they get their wedge.
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debaura
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Post by debaura on Sept 10, 2018 6:22:01 GMT
No data, but I also suspect that there may be correlation with loan size. Valuation is far easier to get right on a £500k loan vs a £5m one. I don't think many of the diddlers (ie <£500k) have had a commensurate number of problems. The DFL model frankly is just not worth it for investment on the whole, as the borrower can simply choose to abandon it if things don't look like working out. That's before the people that have no intention of doing anything and just use the loan for a above market value sale. very good point
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Monetus
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Post by Monetus on Sept 12, 2018 9:01:35 GMT
From Facebook: "New Lendy Wealth attracts over £1m in new investment in days. With up to 10% return pa we're not surprised. Find out more at lendywealth.com #earn10%today"
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rocky1
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Post by rocky1 on Sept 12, 2018 13:55:27 GMT
Great news i noticed the other day about 250k went into three loans with the same investor ID must have been the dedicated portfolio manager.any way the more the better to get this pile of overvalued DFLs completed and hopefully repaid in the near future.
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