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Post by gravitykillz on Dec 4, 2018 12:09:25 GMT
You can tell Lending works is the best p2p lender due to how quiet this board is. Not a single complaint! If you compare this lendy.......feel sorry for the guys who invested with lendy.
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r00lish67
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Post by r00lish67 on Dec 4, 2018 15:53:58 GMT
You can tell Lending works is the best p2p lender due to how quiet this board is. Not a single complaint! If you compare this lendy.......feel sorry for the guys who invested with lendy. I like LW, but the argument doesn't really work. Growth Street also sees little traffic, same for Landbay, and given its size Ratesetter doesn't either. It's just because blind lending at guaranteed rates stimulates very little discussion. You'll see very little complaint unless and until the s**t hits the fan in a massive way, when enquiries will more than modestly increase.
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Post by gravitykillz on Dec 4, 2018 17:18:25 GMT
Least used? The asset backed lenders on here didn't like the recoveries from the 2016 CB (when the company was less mature and hadn't scaled with SIB co- investment). Sorry i dont understand. Tried googling it and came up with some honda motorcycles. 2016 CB ?
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Post by propman on Dec 5, 2018 15:54:39 GMT
It's just because blind lending at guaranteed rates stimulates very little discussion. You'll see very little complaint unless and until the s**t hits the fan in a massive way, when enquiries will more than modestly increase. Agreed. Rs & LW (Both of which I invest in) are akin to catastrophe bonds. Substantial interest expected to flow most of the time, but the probability of significant losses in a downturn.
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elliotn
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Post by elliotn on Dec 6, 2018 14:34:42 GMT
Least used? The asset backed lenders on here didn't like the recoveries from the 2016 CB (when the company was less mature and hadn't scaled with SIB co- investment). Sorry i dont understand. Tried googling it and came up with some honda motorcycles. 2016 CB ? Apologies, mispost from LC!
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Post by stevexxx on Dec 7, 2018 12:19:38 GMT
I've no complaints and don't foresee losses in a downturn, there might be a drop in rates if the pf runs out but I'm not worried and use lw as part of p2p investments and will be trickling more in as time goes by spreading risk between platforms..
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r00lish67
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Post by r00lish67 on Dec 7, 2018 14:51:19 GMT
I've no complaints and don't foresee losses in a downturn, there might be a drop in rates if the pf runs out but I'm not worried and use lw as part of p2p investments and will be trickling more in as time goes by spreading risk between platforms.. If the pf runs out, then the losses you don't foresee will happen by definition.
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Post by df on Dec 8, 2018 0:00:00 GMT
You can tell Lending works is the best p2p lender due to how quiet this board is. Not a single complaint! If you compare this lendy.......feel sorry for the guys who invested with lendy. I recall some criticism for speed of investment and inconsistency of queue length. May be some more, but there isn't really much to complain about. LW delivers what's promised (yes, very opposite experience to Ly) 
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Post by carol167 on Dec 8, 2018 11:56:08 GMT
I have my biggest amount with Lending Works. 1 of 11 platforms I am invested in.
Nuff said.
I would love to increase my holding more, but commonsense is holding me back.
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Ukmikk
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Post by Ukmikk on Dec 8, 2018 13:56:21 GMT
Same here.
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Greenwood2
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Post by Greenwood2 on Dec 8, 2018 14:56:32 GMT
You can tell Lending works is the best p2p lender due to how quiet this board is. Not a single complaint! If you compare this lendy.......feel sorry for the guys who invested with lendy. Hate to tempt fate like that, I hope you are touching wood and have your fingers crossed . Not so long ago Col and Lendy could do no wrong.
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bigfoot12
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Post by bigfoot12 on Dec 8, 2018 15:01:33 GMT
I have my biggest amount with Lending Works. 1 of 11 platforms I am invested in.
Nuff said.
I would love to increase my holding more, but commonsense is holding me back.
That is good to hear as I starting testing it out last week. Despite this being a testing amount of money it is currently 6-8 (depends on treatment of defaults) out of 12, and likely to be 3-4th in six months.
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r00lish67
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Post by r00lish67 on Dec 8, 2018 16:00:22 GMT
Just for the sake of balance, let me point out a few of the downsides of LW. Note that LW is my 3rd largest investment, so I am investing despite these points. 1) The Lending shield has been shrinking recently. The Bad Debt Coverage Ratio was 4.4% a few months ago, and is now only 3.7%. 2) Of that 3.7%, less than half is actual cash in hand, the rest is contracted future income i.e. in terms of what they have now, their shield is only circa 1.77%. 3) Their weighted average APR for borrowers has gone up from 9.2% in 2015 to 11.8% in 2018. One could argue that's a good thing, but I haven't seen good results elsewhere when chasing for yield (think Z+). 4) Look at the graphs on their own stats webpage. Actual default rates have exceeded expected default rates significantly for the last 3 years (2015-17 cohorts). |
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ashtondav
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Post by ashtondav on Dec 8, 2018 17:15:47 GMT
Yes, coverage is not good but we do have insurance as well. Speed of lending is also an issue.
its the possibility of losing capital that’s important especially when comparing with equity. I think in a bad recession you could lose 10% of your capital in LW type platforms and recover in 2 years. In a bad recession and crash in equities it could be 40%+ loss and recover in 8+ years.
i don’t consider a 10% loss recovered in two years a problem.
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r00lish67
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Post by r00lish67 on Dec 8, 2018 17:33:39 GMT
Yes, coverage is not good but we do have insurance as well. Speed of lending is also an issue. its the possibility of losing capital that’s important especially when comparing with equity. I think in a bad recession you could lose 10% of your capital in LW type platforms and recover in 2 years. In a bad recession and crash in equities it could be 40%+ loss and recover in 8+ years. i don’t consider a 10% loss recovered in two years a problem. True, they do have insurance, but AIUI the figures I've quoted are how Lendingworks are doing after the effects of their insurance. Perhaps there are further funds to boost the coffers from pending claims already, but I've not seen any detail around this. Re: capital loss, I could agree with losing 10% of your capital (suspect a bit more, but splitting hairs), but I'm not quite sure how you envision all of that being recovered? Some of that would be recovered from IVA's or the insurance, but again, LW are already spending the provision fund net of the effect of the insurance, so I would personally be planning on seeing that 10% (or whatever) disappear forever. Moreover, if LW impose a loss on lenders that would raise a big question mark about their whole business model - It's often said of RS that they would be finished if they locked in funds and imposed losses - LW's future would surely also be in doubt? Especially if one of their rivals managed to sail through with less damage..
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