rocky1
Member of DD Central
Posts: 1,139 
Likes: 1,963
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Post by rocky1 on Jan 17, 2019 14:15:27 GMT
you forgot to mention the lendy IFISA is on the horizon.well we could all throw another £20k at lendy that way.lendy you are having a bloody laugh.
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Jan 22, 2019 16:35:45 GMT
Appear to have got spammed by thanking me for signing up (I haven't).
And to secure higher rates (my bold) by calling up - not mentioned if this is above the 6%/10% mentioned, given their general incompetence I don't think there will be some kind of private boost over this (not that I would sign up anyway).
But there is a claim that Wealth/365 have performed every month since inception.
Has anyone actually got an account in Wealth and what loans are they holding?
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Post by Proptechfish on Jan 22, 2019 16:40:13 GMT
Appear to have got spammed by thanking me for signing up (I haven't). And to secure higher rates (my bold) by calling up - not mentioned if this is above the 6%/10% mentioned, given their general incompetence I don't think there will be some kind of private boost over this (not that I would sign up anyway). But there is a claim that Wealth/365 have performed every month since inception. Has anyone actually got an account in Wealth and what loans are they holding? I've had the same email, looks like they are scraping the barrel with lenders who are never going to lend 
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Jan 22, 2019 20:20:16 GMT
Appear to have got spammed by thanking me for signing up (I haven't). And to secure higher rates (my bold) by calling up - not mentioned if this is above the 6%/10% mentioned, given their general incompetence I don't think there will be some kind of private boost over this (not that I would sign up anyway). But there is a claim that Wealth/365 have performed every month since inception.Has anyone actually got an account in Wealth and what loans are they holding? I suspect the answer is that they are only putting the new Lendy Wealth cash into loans that still have interest held on account, so it can be paid out. That way the Wealth black box of mysteries will appear wonderful at the moment. The reality will come at the end of any of the loan terms. If they become non performing (that is "default" to most people) as have so many of the loans held by previously loyal investors, then their claim will rapidly disappear in the same way that their promised high interest rate being is now doing. The long boasted "no one has ever lost capital" is now proven to be dead - see the thread on DFL025 and recent posts - where Lendy accept that they have not paid back 100% of capital. Is it just me or does the Lendy boast that they are being so successful with LW that "we are reducing the interest rate on the Wealth accounts" seem rather a contradiction?
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jane
Posts: 145
Likes: 214
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Post by jane on Jan 22, 2019 20:32:17 GMT
Is it just me or does the Lendy boast that they are being so successful with LW that "we are reducing the interest rate on the Wealth accounts" seem rather a contradiction? It doesn't really seem like a contradiction, as i would expect a drop in the rate to be as a result of either: - Too much demand, so rate drops to try and reduce this demand
- Change in the underlying risk profile (risk lessens, so rate drops)
- Desperation or greed to make Lendy Wealth a bit more profitable
Personally, i doubt that either of the first two are the case (in fact i would say its more likely to be the total opposite of both). If demand was so high why would they be trying to push it so hard. So I think its more of an out and out lie than a contradiction.
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spiral
Member of DD Central
Posts: 967
Likes: 486
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Post by spiral on Jan 23, 2019 9:07:06 GMT
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Post by picanto on Jan 23, 2019 11:24:57 GMT
I too have received the E-mail saying I have signed up to a Lendy Wealth account when I haven't done so. I have no intention in doing so because, whilst I can't say I won't reinvest any of my funds back into Lendy in the future, I will not be putting any more money into any of the current live loans. So whether this E-mail was sent in genuine error or it's Lendy's way of giving a hint that they want me to invest in Lendy Wealth, I do not want too so thanks...but no thanks.
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on Jan 23, 2019 21:38:24 GMT
Is it just me or does the Lendy boast that they are being so successful with LW that "we are reducing the interest rate on the Wealth accounts" seem rather a contradiction? It doesn't really seem like a contradiction, as i would expect a drop in the rate to be as a result of either: - Too much demand, so rate drops to try and reduce this demand
- Change in the underlying risk profile (risk lessens, so rate drops)
- Desperation or greed to make Lendy Wealth a bit more profitable
Personally, i doubt that either of the first two are the case (in fact i would say its more likely to be the total opposite of both). If demand was so high why would they be trying to push it so hard. So I think its more of an out and out lie than a contradiction.
I thought it was because they couldn't match the 10% owing to other costs that they have, such as legal; and what types/projects are trying to borrow and failing. Which other p2p service this type of loan?
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jcb208
Member of DD Central
Posts: 838
Likes: 638
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Post by jcb208 on Jan 24, 2019 11:43:25 GMT
Are Lendy purchasing the loans on the market for the wealth product as £54k of DFL029 went this morning and any one with half a brain would not buy this much,also seems to be low levels of the other loans available as well
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Post by loftankerman on Jan 24, 2019 12:19:58 GMT
Are Lendy purchasing the loans on the market for the wealth product as £54k of DFL029 went this morning and any one with half a brain would not buy this much,also seems to be low levels of the other loans available as well Well, as the investors have been warned that their capital may be at risk, Lendy can splurge it on anything they like. Can't they?
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Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
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Post by Mousey on Jan 24, 2019 12:27:05 GMT
Anyone carrying out even the most basic due diligence would see there's a whole range of problems with Lendy so who's funding Wealth?!
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Post by charliebrown on Jan 25, 2019 9:47:50 GMT
Anyone carrying out even the most basic due diligence would see there's a whole range of problems with Lendy so who's funding Wealth?! You’re right Mousey, no amount of Lendy spin and BS can hide the fact that they are one of the worst performing p2p platforms in the history of the universe. Even though they insist on hiding SUSPENDED loans, the DEFAULTS and CLAIMS are there for all to see and it’s a proper house of horrors. That’s before taking a look at TrustPilot and seeing that not only do LY have abysmal performance they also have a terrible contentemp for their investors. Who in their right mind would invest 10k in this shower at this stage in the game.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Jan 25, 2019 19:16:53 GMT
I too have received the E-mail saying I have signed up to a Lendy Wealth account when I haven't done so. I have no intention in doing so because, whilst I can't say I won't reinvest any of my funds back into Lendy in the future, I will not be putting any more money into any of the current live loans. So whether this E-mail was sent in genuine error or it's Lendy's way of giving a hint that they want me to invest in Lendy Wealth, I do not want too so thanks...but no thanks. I got one on my Dead mum’s account I had already told them. When they called previously to get her to invest.
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on Jan 29, 2019 22:04:06 GMT
Nice to see they have swapped wealth and self select around on the mobile site, I just tried to sign in to the wealth account I don't have...
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Post by p2plender on Jan 29, 2019 22:11:53 GMT
Be interesting if any wealth client would care to post here. I don't believe anyone with money would be mad enough to throw it Lendy's way but still a fool and his money..
I believe Bernie madoff was still attracting to new clients right up until he was pulled in.
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