boundah
Member of DD Central
Posts: 368 
Likes: 430
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Post by boundah on Nov 21, 2018 12:52:51 GMT
I'm at 160%. All remaining loans non-performing except a couple of small tree-related ones.
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Post by charliebrown on Nov 21, 2018 13:12:07 GMT
- 'Lendy are one of the few P2P companies making a profit' and have not gone into liquidation - high fives, everyone!
There’s a shocking irony to this. Lendy are losing millions of pounds of investors’ capital and providing some of the worst returns in the market, yet they are one of the few P2P companies making a profit. I blame Thatcher. Basic sense would tell us that big loses for investors AND big profits for LY is a situation that cannot last.
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nyneil
Member of DD Central
Posts: 349
Likes: 438
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Post by nyneil on Nov 21, 2018 13:21:43 GMT
I've yet to see anyone who was well diversified make an overall loss when loans are actually paid back or defaulted on any platform. I'd be happy for my view to be proved wrong (But sad for person proving it )  To date, my level of overdue loans to total interest paid is 221%. I'm classing anything with negative days remaining as distressed, so this situation might improve over time , as the ratio of overdue to not overdue is 48% - let's see how that pans out! My thoughts on diversification are / were? similar to that stated by Godanubis. I thought I was well diversified across many platforms and loans within those platforms. However, following my experiences with Col, Lendy and FS; especially since recent developments with art / antique loans on FS where I am unintentionally over committed, through lack of disclosure on the platform, I will be lucky to break even over a 12 month period. As and when some recoveries come in, I hope that will improve over the longer term. I have developed a much more cautious approach over the last 12 months.
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Nov 21, 2018 13:51:27 GMT
Well I managed 11.49% return minus £303 left caught up in the Castle debacle which represents 7% of the total overall interest. I started lending in July 2015 and withdrew all I could June 2017. Nothing lent since or will be.
The most I had invested in any one month was 26k. So overall, a positive experience, but I certainly wouldn't be investing in Lendy now or for the forseeable future.
SNAP! (Almost) I started in September 2015, Started slowly withdrawing in January 2017, accelerated this in March 2017 (by the end 100% was up for sale which took a few months at 0% interested, but never mind). All out now, no losses, ~11.2% IRR - my number 2 platform of all time!. I assumed that early adopters would be early to exit which ties in with my post in this thread.
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Post by carol167 on Nov 21, 2018 14:04:07 GMT
Well I managed 11.49% return minus £303 left caught up in the Castle debacle which represents 7% of the total overall interest. I started lending in July 2015 and withdrew all I could June 2017. Nothing lent since or will be.
The most I had invested in any one month was 26k. So overall, a positive experience, but I certainly wouldn't be investing in Lendy now or for the forseeable future.
SNAP! (Almost) I started in September 2015, Started slowly withdrawing in January 2017, accelerated this in March 2017 (by the end 100% was up for sale which took a few months at 0% interested, but never mind). All out now, no losses, ~11.2% IRR - my number 2 platform of all time!. I assumed that early adopters would be early to exit which ties in with my post in this thread.
The writing seemed to be on the wall in the spring of 2017.
I started selling off in April 2017 and had everything out (save the Castle) by end of June 2017. Sadly Lendy has been progressively downhill ever since.
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Post by brokenbiscuits on Nov 22, 2018 17:36:59 GMT
Overdue loans to interest paid is 18%.
I would like to get it back, but seems I win even if I don’t.
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Mr_N
Posts: 222
Likes: 225
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Post by Mr_N on Nov 23, 2018 0:21:03 GMT
417%, all defaulted, most of which over 12 months defaulted.
It's time the regulator forced Lendy into receivership and loan agreements transferred to investors, particularly with a potential property crash getting ever closer with several successive months of flat-lining and receding prices.
I've submitted a 17 page fact file to BBC's Watchdog, anyone else of a similar mindset ought consider doing the same, it has a habit of making regulators and Ombudsman prick their ears up, and thousands of "investors" speak out, as well as condemnation by other successful platforms.
Waiting for Lendy to work through £130m of ever increasing distressed loans is foolhardy, they have neither the skills, manpower or any sense of urgency, they can't even keep in regular communications anymore, and they can't fund any of the upcoming tranches either. Their recovery ability is limited to the one or two percent they make on loans, rather than the 12pc we're owed.
Sitting about on forums hoping Lendy will still be here next month isn't going to make this bad situation any less bad, it's inviting it to get worse. Action needs to be taken immediately, by all investors. FSA and Ombudsman complaints are the only way to get things moving before there's no Lendy left to move.
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elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
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Post by elliotn on Nov 23, 2018 5:57:20 GMT
I have 2% NA in default. That is far less than interest I have earned. Ly has been very profitable for me and just as importantly a very useful learning curve. There is also some further capital recovery expected, such as Wolverhampton, Herc.
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