r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Sept 11, 2019 10:42:58 GMT
Well done lendingcrowd recovering some funds from V***l B****s Ltd today. Also, as it's a rarity in these parts, I have to say that 9 months into my reacquaintance with LendingCrowd I'm very pleased with the results so far. And if that's not the kiss of death, then I don't know what is
|
|
pip
Posts: 542
Likes: 725
|
Post by pip on Sept 11, 2019 11:44:29 GMT
Agree with that, looks a pretty well run ship these days. A few dud loans along the way, notably an electrician who got a loan despite having HSE breaches and who quickly liquidated and the guarantor make bankrupt, but generally defaults have been low and I when they do occur are well chased.
The platform has definitely gone up my list of preferred platforms, just a shame the ridiculously generous bonuses have ended.
|
|
|
Post by df on Sept 11, 2019 12:00:26 GMT
I've been with LC for 32 months non-stop now. Rate of return - 8.22% atm and has been hovering above 8% for quite a while. I'm happy with LC so far. Loan flow has been slow for some time so I've started withdrawing my returns, but hopefully it will pick up in future.
|
|
IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
|
Post by IFISAcava on Sept 11, 2019 12:09:32 GMT
Agree with that, looks a pretty well run ship these days. A few dud loans along the way, notably an electrician who got a loan despite having HSE breaches and who quickly liquidated and the guarantor make bankrupt, but generally defaults have been low and I when they do occur are well chased. The platform has definitely gone up my list of preferred platforms, just a shame the ridiculously generous bonuses have ended.These were the only things giving me a decent return! My experience is much worse - just about breaking even - if all the loans in arrears pay up maybe 2-3%.
|
|
|
Post by df on Sept 11, 2019 12:35:24 GMT
Agree with that, looks a pretty well run ship these days. A few dud loans along the way, notably an electrician who got a loan despite having HSE breaches and who quickly liquidated and the guarantor make bankrupt, but generally defaults have been low and I when they do occur are well chased. The platform has definitely gone up my list of preferred platforms, just a shame the ridiculously generous bonuses have ended. That's probably because they now have enough auto-investors cash to fill all new loans. I've never went for bonuses and still having a decent return (I use manual account only).
|
|
mb
Posts: 38
Likes: 11
|
Post by mb on Sept 11, 2019 14:10:57 GMT
Some things I like about LC: - the product doesn't keep changing - they don't keep changing the terms and conditions - the user interface doesn't keep changing - the secondary market seems to work well
|
|
|
Post by albermarle on Sept 13, 2019 15:19:12 GMT
I've been with LC for 32 months non-stop now. Rate of return - 8.22% atm and has been hovering above 8% for quite a while. I'm happy with LC so far. Loan flow has been slow for some time so I've started withdrawing my returns, but hopefully it will pick up in future. I have been with them a similar time . I also have a similar rate of return but including a bonus . My real rate of return is 5.8% , which is almost the same as their auto account . However three things put me off putting more money I, in fact I have been slowly reducing my holding ( but not in a panic) 1) The accounts info of the prospective borrowers is often full of holes and does not add up . 2) Any significant dip in the economy , of which there is a reasonable chance , will be problematic for SME failures. 3) The reduction by 2% on the max bids for new loans a while ago .
|
|
|
Post by df on Sept 13, 2019 16:28:13 GMT
I've been with LC for 32 months non-stop now. Rate of return - 8.22% atm and has been hovering above 8% for quite a while. I'm happy with LC so far. Loan flow has been slow for some time so I've started withdrawing my returns, but hopefully it will pick up in future. I have been with them a similar time . I also have a similar rate of return but including a bonus . My real rate of return is 5.8% , which is almost the same as their auto account . However three things put me off putting more money I, in fact I have been slowly reducing my holding ( but not in a panic) 1) The accounts info of the prospective borrowers is often full of holes and does not add up . 2) Any significant dip in the economy , of which there is a reasonable chance , will be problematic for SME failures. 3) The reduction by 2% on the max bids for new loans a while ago . I wonder why your rate (excl. bonus} is significantly lower than mine? I don't do anything special - just put a set small amount into almost every loan. I've never invested in A+, some I deliberately missed out and a small number I've been outbid - but apart from that I'm in vast majority of loans originated since I've started with LC. Your reasons for reduction are very reasonable (imo). I have a different take on these. 1) Doesn't bother me because my investment strategy doesn't include DD on these loans. I read the amount, the length, turnover, profit, outstanding loans and first two sentences of business description. Sometimes I don't even do that. I've learned this method (don't read anything) from my adventure on FC 2) This will be problematic for almost everything we invest in. I have reduced my overall p2p involvement, but not SME in particular. 3) I've accepted that because the rates are still high enough (except A+) for me to take a risk.
|
|
|
Post by albermarle on Sept 14, 2019 13:29:03 GMT
I think my rate is lower maybe because during my first few months , I was putting in more per loan than I did later, and a couple of these have gone under . So have probably affected the rate disproportionately, or it could just be bad luck . Probably your tactic about the DD is the right one, . One thing I noticed over my period with them is that the nature of the loans /borrowers seemed to change . There seem to be less for more practical things , like buying machinery, refurbishing a shop , buying out a partner etc and more for marketing and particularly more just for working capital . That was my perception anyway but I can't prove it .
|
|
rscal
Posts: 903
Likes: 493
|
Post by rscal on Sept 16, 2019 7:28:58 GMT
My investments since opening an account in January are performing close to the par of the auto-invest average ranges. I have thoguht about maually picking loans but as I'm spread across 300 by LC itself manual selction would make a limited difference going forward: 'If it aint broke...' (etc.)
As to selling on the SM, would my holdings just all be put up at once, going into a queue(s) for all individual loans current offered as once my designated sum had been achieved the remaining 'sell' instructions be revoked by the system? (or something like that?)
|
|
rscal
Posts: 903
Likes: 493
|
Post by rscal on Sept 26, 2019 5:57:21 GMT
Arr, now I have recorded my first default/loss on a loan: 0.07% of capital. I spotted a change in the total figures this morning and went looking and found the way to display a tax statement. This would have been among the auto invested loans (300 plus) so I don't know any more at present. That's one loss since starting with them in December/January. Looked for a 'loan comment' or some information but there is nothing newer than a few days ago. There is a note (#1056) about the loan there, dated 19th September
[Do they usually notify investors in some way when this happens I wonder?]
EDIT: I have found all the relevant loan information. Click on
'Manage Account' [this brings up the options. Select] 'Your current loan holdings' [scroll to end of screen for section marked] 'Bad debt' [and click under the leftmost heading] 'Company'
This brings up the loan's page and I can see there this loan was for 100k 'Working Capital' for 36 months, @ 9.9% interest, credit rated 'B+'. It has run for 27 months and written off in month 28 with 27k outstanding. My investment only got about 3 of the expected 12 remainng payments and six of those being missed they have written off everything back to April.
[Good to be able to find this level of detail at least]
|
|
|
Post by carol167 on Sept 27, 2019 8:42:06 GMT
Well I've been with them since September 2017.
I started with a deposit of £5k with a £200 bonus and added a futher £5k in April 2018 for another bonus of £200. I then added a further £10k in December 2018 to get the £500 bonus offer.
So total £20k and total bonuses of £800.
In all the time since I've had total losses of £557. I've made an overall profit of £2207 after losses.
I have two growth accounts within my account and one is certainly doing better than the other (the not so good one is down to around 4% return) but both have returned more than my money would have done in a savings account. I would not be so ok with the current level of losses if it wasn't for the bonusses.
One thing to note though... in all this time there has been nothing recovered on any of my losses and that is worrying...
I'm keeping a close eye my Lending Crowd account.
I would be happy to sink in a lot more money if I thought it was doing well... but the trend is not looking good currently. I can easily see the losses negating all the bonuses and then starting to eat in to the interest.
Happy to hold at 20k for now - but not investing any more until I have more personal stats to go on.
|
|
|
Post by Berkeley on Sept 27, 2019 11:14:52 GMT
I started with LC in late 2015. Early losses were high, I have had 19 losses to date with only one loss fully recovered in 2018. Three others have had very small (3%) partial recoveries to date.
After being burnt early on with LC I limit exposure on any single loan to 0.7% of my total investment. As LC loans are amortising this gives an average exposure per loan of under 0.4% over time.
Recovery of losses on LC have improved, but it is important to recognise that many of the loans offered (about 70%) are without physical security. The value of personal guarantees are often found to be worthless, so limiting exposure is especially important on this platform. I also diversify my portfolio across a number of platforms to reduce risk further.
|
|
rscal
Posts: 903
Likes: 493
|
Post by rscal on Nov 25, 2019 8:26:24 GMT
An Update:
Have received a third default today - making one per month for each of September, October and November - in the Autoinvest canon of about 300 loans. Total loss over three loans is now 0.275% of capital invested (Since 31 Dec 2018) I have received paid out interest of 6.17% plus bonuses equivalent to 3.27% (I have increased my balances after my initial investment and been wthdrawing interest in the meantime) Obviously non-performing loans would remain unsaleable so I would need to quantify those when thinking about the overall position if withdrawing as my investment anniversaries roll around.
Hmm. It's awkward when you've said nice things abotu them and then an ACTUAL default! (I do like the functionality of the website though!)
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Nov 25, 2019 10:08:56 GMT
An Update:
Have received a third default today - making one per month for each of September, October and November - in the Autoinvest canon of about 300 loans. Total loss over three loans is now 0.275% of capital invested (Since 31 Dec 2018) I have received paid out interest of 6.17% plus bonuses equivalent to 3.27% (I have increased my balances after my initial investment and been wthdrawing interest in the meantime) Obviously non-performing loans would remain unsaleable so I would need to quantify those when thinking about the overall position if withdrawing as my investment anniversaries roll around.
Hmm. It's awkward when you've said nice things abotu them and then an ACTUAL default! (I do like the functionality of the website though!)
Well, defaults do happen obviously - if you've had your account since last year, doesn't that mean you're running at 7-8% at the moment? If so, pretty amazing in the current climate. Re: recovery, of my 3 defaults so far, LC have recovered 100% capital on one (S***y P****ct), circa 65% on the other, and still awaiting results from a third.
|
|