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Post by overthehill on Oct 1, 2020 9:38:19 GMT
Selling defaulted loans on mass is probably a good strategy but I don't know how much it costs.
I'm exiting all these types of p2p lending where an insurance model is used i.e. large volumes, unsecured, low quality borrowers where bad debts can be written off and still produce a net reTurn. These companies do not have the resources or inclination and it's not cost effective to chase large numbers of defaults in dire economic situations. I viewed Funding Circle and Zopa in the same way.
I'm not overly confident that the takeover will go ahead, still 2 months away ?
If retail investors are in their plans then they will need to provide a stonking incentive to return them to port as the boat has already sailed. They could easily have offered a sweetener if they were serious but that decision was probably overruled by the ongoing takeover.
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mogish
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Post by mogish on Oct 1, 2020 10:55:10 GMT
Selling defaulted loans on mass is probably a good strategy but I don't know how much it costs.
I'm exiting all these types of p2p lending where an insurance model is used i.e. large volumes, unsecured, low quality borrowers where bad debts can be written off and still produce a net reurn. These companies do not have the resources or inclination and it's not cost effective to chase large numbers of defaults in dire economic situations. I viewed Funding Circle and Zopa in the same way.
I'm not overly confident that the takeover will go ahead, still 2 months away ?
If retail investors are in their plans then they will need to provide a stonking incentive to return to port as the boat has already sailed. They could easily have offered a sweetener if they were serious but that decision was probably overruled by the ongoing takeover.
Have I missed something? I thought the takeover happened in July?
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mogish
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Post by mogish on Oct 1, 2020 11:12:59 GMT
Just reread yesterday's update... sure enough completion in 60 days...
Fingers crossed it all goes through
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macq
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Post by macq on Oct 1, 2020 12:07:17 GMT
Selling defaulted loans on mass is probably a good strategy but I don't know how much it costs.
I'm exiting all these types of p2p lending where an insurance model is used i.e. large volumes, unsecured, low quality borrowers where bad debts can be written off and still produce a net reTurn. These companies do not have the resources or inclination and it's not cost effective to chase large numbers of defaults in dire economic situations. I viewed Funding Circle and Zopa in the same way.
I'm not overly confident that the takeover will go ahead, still 2 months away ?
If retail investors are in their plans then they will need to provide a stonking incentive to return to port as the boat has already sailed. They could easily have offered a sweetener if they were serious but that decision was probably overruled by the ongoing takeover.
A small sample size as to how retail investors are thinking might be this forum.At the start of the year when many were leaving due to last years changes there was still a spirited defence of LW from many but that seems to have evaporated now (or the people left are still happy but don't go on about it?)
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Post by jamiee on Oct 1, 2020 23:37:24 GMT
The issues of the normalisation period ending and the payment of interest being resumed appears to have been conflated. I personally don't feel that LW have been clear on this matter.
The ending of the normalisation period does not necessarily mean that investors will start to receive interest. I don't understand why the limited communication from LW has not made this matter clear.
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mogish
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Post by mogish on Oct 7, 2020 18:00:28 GMT
Well Matthew if you are indeed watching , can you explain why my available cash seems to be reducing to a dribble each week?
£4.82 for the last 7 days....
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Post by decleoro on Oct 19, 2020 21:43:29 GMT
Just reread yesterday's update... sure enough completion in 60 days... Fingers crossed it all goes through I am not necessarily too hopeful re the new company. Anything could happen. When all this started LW had around 95 million pounds lent out, now its down to 69 million. obviously a lot less and more of it will be out to bad debt. LW will not be getting as much to run the operation as they did initially, interest payments will be down and down especially as there are no new loans, thankfully some are paying their debts back and some are paying up early and that is why we are getting money back albeit slowly and it seems more slowly. I suppose Matthew is not commenting because the business is being sold and it may no longer be his place. We will have to wait and see if Matthew and indeed Nick Harding have any control over the future of the company. I still have a lot of money in LW and am concerned to say the least. I have no idea of what percentage my money is now in bad debt or indeed how much will, if any be repaid by lenders at some point. With Covid continuing and more almost lock downs continuing the economy seems to be in free fall. Very worrying times. Incidentally has anyone else noted that we can no longer access the previous month's and years monthly information?? I wonder why that is??? Does anyone have any thoughts?
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Post by jojo on Oct 20, 2020 7:27:29 GMT
Just reread yesterday's update... sure enough completion in 60 days... Fingers crossed it all goes through I am not necessarily too hopeful re the new company. Anything could happen. When all this started LW had around 95 million pounds lent out, now its down to 69 million. obviously a lot less and more of it will be out to bad debt. LW will not be getting as much to run the operation as they did initially, interest payments will be down and down especially as there are no new loans, thankfully some are paying their debts back and some are paying up early and that is why we are getting money back albeit slowly and it seems more slowly. I suppose Matthew is not commenting because the business is being sold and it may no longer be his place. We will have to wait and see if Matthew and indeed Nick Harding have any control over the future of the company. I still have a lot of money in LW and am concerned to say the least. I have no idea of what percentage my money is now in bad debt or indeed how much will, if any be repaid by lenders at some point. With Covid continuing and more almost lock downs continuing the economy seems to be in free fall. Very worrying times. Incidentally has anyone else noted that we can no longer access the previous month's and years monthly information?? I wonder why that is??? Does anyone have any thoughts? Hello Declero, LW has updated its website recently, all the useful informations are in the "ON LOAN" TAB, Click "View Loans", then "View loan" book Blue Button. You can access all Monthly Statement, Transaction History and Loan Books and download them. I actually found it easier to have all the information in the same place, maybe I would not have put it in "on Loan" Tab but probably more accessible on the front page. Hope this help Joe
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criston
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Post by criston on Oct 20, 2020 13:59:20 GMT
Maybe the new owner will offer to buy our loans at a discount, otherwise this could go on for years.
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mogish
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Post by mogish on Oct 20, 2020 15:57:53 GMT
I doubt Intriva capital will buy the loans. LW will be just another acquisition to intriva. I guess they have nothing to lose as no doubt the loan book covers what they paid for LW.
I just hope it doesnt end up like Wellesley .
They cant continue to trade in the current state so hopefully we will get positive news in the next few months and either have the option to sell loans or understand the future plans.
Its disappointing that LW have not communicated better with investors. RS IMO have been excellent , AC at least comment occasionally and Zopa continues to release funds to a decent value weekly.
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criston
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Post by criston on Oct 20, 2020 16:10:49 GMT
This may have been covered before, but is it still possible to get Lending Works IFISA holdings transferred to other IFISA managers.
Just in case I get a few big chunks instead of dribs & drabs.
I know the correct procedure.
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mogish
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Post by mogish on Oct 20, 2020 16:17:35 GMT
Cant see why not. I'm just taking mine out of the isa wrapper. Speeds things up. Yes.... I'm that desperate to drawdown my LW funds.
Any transfers from p2p isa I've done before I mark partial on the form to avoid any problems.
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Post by decleoro on Oct 22, 2020 12:25:09 GMT
Maybe the new owner will offer to buy our loans at a discount, otherwise this could go on for years. Thanks to Joe for letting me know where to find statements etc. Very kind of you. 👍😃
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IFISAcava
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Post by IFISAcava on Oct 30, 2020 13:26:42 GMT
So, we now have "negative interest rates" spun as "no capital loss".
Remarkable.
I guess if you take away previously earned interest, it doesn't count as a loss?
I am looking forward to seeing my reducing balance and feeling relieved that it isn't a capital loss.
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Post by essexboy on Oct 30, 2020 13:32:00 GMT
Why are they so averse to a secondary market? Its making me even more suspicious.
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