dermot
Member of DD Central
Posts: 863 
Likes: 517
|
Post by dermot on May 28, 2019 15:20:59 GMT
At peak, I had mid 5 figures in LY, but sold out of almost everything in a very short period when alarm bells started to ring - even ones that *seemed* 'safe', like this one, DFL 4/5 &c.
As a result, I now have £1,100 left in the Exeters and a London loan. Sad thing is, I'd sold out of both Exeters initially, then bought back in when the new tranches started selling well. My bad.
OTOH, I'm comfortably ahead of the game in terms of total returns, even if I lose all that £1,100.
Just wish I'd sold more of CO before they went bad.
I also sold out of BM at much the same time, before they started investing much in LY or CO, but wonder how much of LY is sitting on their books now. I'm quite happy with my overall return/loss with BM, I just felt uncomfortable with so much double investing across platforms, leading to a loss of diversity.
|
|
dermot
Member of DD Central
Posts: 863
Likes: 517
|
Post by dermot on May 28, 2019 15:24:14 GMT
At peak, I had mid 5 figures in LY, but sold out of almost everything in a very short period when alarm bells started to ring - even ones that *seemed* 'safe', like this one, DFL 4/5 &c. As a result, I now have £1,100 left in the Exeters and a London loan. Sad thing is, I'd sold out of both Exeters initially, then bought back in when the new tranches started selling well. My bad. OTOH, I'm comfortably ahead of the game in terms of total returns, even if I lose all that £1,100. Just wish I'd sold more of CO before they went bad. I also sold out of BM at much the same time, before they started investing much in LY or CO, but wonder how much of LY is sitting on their books now. I'm quite happy with my overall return/loss with BM, I just felt uncomfortable with so much double investing across platforms, leading to a loss of diversity. My mistake, just looking at BM, I see they've never invested in LY. Smart move.
|
|
bramhall17
Member of DD Central
Posts: 88
Likes: 148
|
Post by bramhall17 on May 28, 2019 15:31:57 GMT
Peak I had some £30,000 in Lendy/SS but actively ran it down as best I could to some £6000. If I take off Lendy total interest, I'm out around £3000. If I get a 30% recovery (6000 x30% = £1800) net loss circa £1200 before I look at tax offsets on other P2P interest. So disappointing but not significant for me.
|
|
|
|
Post by Deleted on May 28, 2019 15:35:19 GMT
Although it has felt like walking through a minefield at times, Lendy are not my worst performing P2P platform. That prize goes to Wellesley. Yeah, I'm an idiot  |
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 28, 2019 15:51:20 GMT
Although it has felt like walking through a minefield at times, Lendy are not my worst performing P2P platform. That prize goes to Wellesley. Yeah, I'm an idiot What happened there? They are still working i got interest on my £50 i put 2 years ago lol
|
|
|
|
Post by magoo68 on May 28, 2019 16:01:31 GMT
Peaked at about 20K, but like many others I owe this place a debt of gratitude for making the direction of travel here abundantly obvious, although I only managed to get a touch over half out, still have 9.4K stuck in there. Deduct about 6K interest and it's bad, but not a disaster. Those here with considerably larger losses have my genuine sympathy, and for all our sakes, let's hope this end game produces a percentage of our money back!
|
|
moist
Member of DD Central
Posts: 241
Likes: 251
|
Post by moist on May 28, 2019 16:02:35 GMT
currently £12k up, with 32k stuck.....dont suppose I will see more then 30%, but still a good return overall
|
|
|
|
Post by Deleted on May 28, 2019 16:04:30 GMT
What happened there? They are still working i got interest on my £50 i put 2 years ago lol They've had a few P2P loans go bad recently. One of them due to badgers apparently
|
|
Vero
Member of DD Central
Posts: 196 
Likes: 163
|
Post by Vero on May 28, 2019 16:21:21 GMT
I had 6 figures invested, average 12.2% pa interest received, no losses or unpaid interest - but lots of due diligence.
I started with Saving Stream 5 years ago, lending on boats, reluctantly moving to property with Lendy.
I did not like many of the property loans, so could only lend on a few that passed DD.
I added £50k last year, but only chose a few more loans that I considered (a) were valued correctly and (b) would repay. Once these repaid I withdrew everything in February, as I didn't like any of the remaining loans, and the writing was on the wall.
I hope the administrators are able to sort this out quickly and cleanly for the remaining lenders with a minimum of loss.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 28, 2019 16:43:55 GMT
What happened there? They are still working i got interest on my £50 i put 2 years ago lol They've had a few P2P loans go bad recently. One of them due to badgers apparently What's badger?
|
|
|
|
Post by Deleted on May 28, 2019 17:13:53 GMT
Small furry animals that are a protected species in the UK... and hence seem to make a convenient excuse for building delays
|
|
jomantha
Member of DD Central
Posts: 177
Likes: 63
|
Post by jomantha on May 28, 2019 17:53:09 GMT
We will be 6.8k down bwtween my husband and myself.
|
|
delboy
Member of DD Central
Posts: 79
Likes: 49
|
Post by delboy on May 28, 2019 18:01:33 GMT
There’s a lot of creative mathematics going on here to minimise perceived losses, but unless the only alternative to investing in Lendy were to stick cash under one’s mattress, there are opportunity costs and inflation over several years of investing to take into account. I understand the psychological desire to bring that number down in theory, but ultimately the number shown in your Lendy account at this moment in time is a potential real loss. I don’t really think it’s been a good day for anyone whose balance is above zero.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 28, 2019 18:04:12 GMT
There’s a lot of creative mathematics going on here to minimise perceived losses, but unless the only alternative to investing in Lendy were to stick cash under one’s mattress, there are opportunity costs and inflation over several years of investing to take into account. I understand the psychological desire to bring that number down in theory, but ultimately the number shown in your Lendy account at this moment in time is a potential real loss. I don’t really think it’s been a good day for anyone whose balance is above zero. inflation or not, if you loose £100 you'll feel way better than loosing £50k
|
|
sbjames
New Member
Posts: 4
Likes: 7
|
Post by sbjames on May 28, 2019 18:47:25 GMT
Between me and my partner (in name only of course) just shy of £32K. To put this into perspective it is 20% of my assets and 30% of my net worth. I've been trying to get my money out for a few months now, but with everything being overdue and therefore 'unsellable', I was only able to get a couple of grand out. The last time I put any money in was January 2018, and ever since then I was quite happy just re-investing the interest, until I started to take more of an interest and then attempted to liquidate everything. I've even filed my 2018/19 taxes  I used to work for the Insolvency Service - investigating companies that went bust. I hope they throw the book at him. I have a fair few quid in LendInvest and RateSetter too. Maybe time to liquidate the later and fingers crossed on the former. Yes, I've been a bit of a twit (no I really don't need people to tell me that - the percentage I had/ve in P2P is rather a lot), but I've diversified a lot, I just underrated the systemic risk I suppose. I never needed the money back on time (bridging/development financing loans are never going to be repaid on the dot, are they?!) but -900 days and counting isn't great! |
|
