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Post by gravitykillz on Jan 29, 2019 19:02:48 GMT
Anyone else think £100 minimum investment is ridiculous as well as a 3 month delay in withdrawal. Especially considering they barely list one loan a day.
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Post by Proptechfish on Jan 29, 2019 19:05:25 GMT
Anyone else think £100 minimum investment is ridiculous as well as a 3 month delay in withdrawal. Especially considering they barely list one loan a day. No. That's a pretty industry standard buy in level. If you think that's steep take a look at Market Invoice or Folk to Folk.
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pom
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Post by pom on Jan 29, 2019 22:25:57 GMT
Anyone else think £100 minimum investment is ridiculous as well as a 3 month delay in withdrawal. Especially considering they barely list one loan a day. As I recall they closed to retail and now only accept HNWs or sophisticated investors when they dropped their p2p application, so nope I don't think the minimum is ridiculous. If you do then perhaps you should be putting your money somewhere else
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Post by gravitykillz on Jan 30, 2019 6:00:57 GMT
Anyone else think £100 minimum investment is ridiculous as well as a 3 month delay in withdrawal. Especially considering they barely list one loan a day. As I recall they closed to retail and now only accept HNWs or sophisticated investors when they dropped their p2p application, so nope I don't think the minimum is ridiculous. If you do then perhaps you should be putting your money somewhere else Lol. Wish i could but once you make a deposit you cannot withdraw for 3 months. And i have already made 1 £100 deposit. Very few loans on this platform.
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benaj
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Post by benaj on Jan 30, 2019 6:13:04 GMT
As I recall they closed to retail and now only accept HNWs or sophisticated investors when they dropped their p2p application, so nope I don't think the minimum is ridiculous. If you do then perhaps you should be putting your money somewhere else Lol. Wish i could but once you make a deposit you cannot withdraw for 3 months. And i have already made 1 £100 deposit. Very few loans on this platform. Lending volume on Lendinvest is 191.3 Mil in the last 90 days, which is higher compared to Zopa. brismo.com/market-data/
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pom
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Post by pom on Jan 30, 2019 9:21:34 GMT
As I recall they closed to retail and now only accept HNWs or sophisticated investors when they dropped their p2p application, so nope I don't think the minimum is ridiculous. If you do then perhaps you should be putting your money somewhere else Lol. Wish i could but once you make a deposit you cannot withdraw for 3 months. And i have already made 1 £100 deposit. Very few loans on this platform. There's a steady flow of them - I had about 50 loans at my peak, and I was only investing in a fraction the loans that came up (not least as a lot of them go very very quickly). But no, you're not going to get instant diversified investment, just as you won't on any other property backed platform. There is one deal on offer at the moment that's a possible home for your £100, if you don't like that one then there'll undoubtedly be more later in the week (I've never measured it but I'd say most turn up on Thursdays). Generally I'd say don't pay it in until you see a deal you like, then you don't need to worry about the 90day debit card issue (or just use bank transfers). But again, if you're worried about cash drag on £100 then that does not sound like sophisticated/HNW to me. Not that they necessarily mean that much, HNWs aren't automatically good at managing their money, and "sophisticated" is fairly easy to honestly acquire, but then the eligibility criteria are mostly about covering their own back. It should still be a flag as to whether a platform will really suit you tho. I've always liked LI, but there is NO early access to funds, and some loans get extended and extended, albeit so far they've always repaid in full, which is a good thing because they're not p2p, so its unlikely that any losses will be eligible for offset against income.
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Post by gravitykillz on Jan 30, 2019 10:11:18 GMT
Lol. Wish i could but once you make a deposit you cannot withdraw for 3 months. And i have already made 1 £100 deposit. Very few loans on this platform. There's a steady flow of them - I had about 50 loans at my peak, and I was only investing in a fraction the loans that came up (not least as a lot of them go very very quickly). But no, you're not going to get instant diversified investment, just as you won't on any other property backed platform. There is one deal on offer at the moment that's a possible home for your £100, if you don't like that one then there'll undoubtedly be more later in the week (I've never measured it but I'd say most turn up on Thursdays). Generally I'd say don't pay it in until you see a deal you like, then you don't need to worry about the 90day debit card issue (or just use bank transfers). But again, if you're worried about cash drag on £100 then that does not sound like sophisticated/HNW to me. Not that they necessarily mean that much, HNWs aren't automatically good at managing their money, and "sophisticated" is fairly easy to honestly acquire, but then the eligibility criteria are mostly about covering their own back. It should still be a flag as to whether a platform will really suit you tho. I've always liked LI, but there is NO early access to funds, and some loans get extended and extended, albeit so far they've always repaid in full, which is a good thing because they're not p2p, so its unlikely that any losses will be eligible for offset against income. Sorry i said it wrong. I invest 1500 and have made a single £100 investment so far. So i have 1400 waiting to be invested at 60% ltv. Its been over a week now. The one i invested in was 70% ltv, i broke my rule but wanted to see what the process was like.
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Post by gravitykillz on Jan 30, 2019 10:12:40 GMT
Minimum deposit when you open a lendinvest account is 1k. Not sure what it was like before.
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pom
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Post by pom on Jan 30, 2019 11:04:16 GMT
Sorry i said it wrong. I invest 1500 and have made a single £100 investment so far. So i have 1400 waiting to be invested at 60% ltv. Its been over a week now. The one i invested in was 70% ltv, i broke my rule but wanted to see what the process was like. Minimum deposit when you open a lendinvest account is 1k. Not sure what it was like before. Ah that paints a slightly different picture....if you're going for 15 loans it took me about 4 months to achieve that when I first started, tho I was going more for rate than LTV at that point (2015), also I think the min investment per loan then was 1k, I forget when they lowered it, sometime between then and closing to retail I think. Different times but deal volume not really changed I don't think, just lower rates for higher LTVs....but I rather suspect if you want to get it all invested before it's eligible for withdrawal you'll either have to change your investment sum per loan, your loan criteria or both.
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benaj
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Post by benaj on Jan 30, 2019 11:16:11 GMT
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archie
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Post by archie on Jan 30, 2019 11:46:58 GMT
When I joined LI back in 2014 it was 10k minimum per loan so £100 isn't too bad.  |
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