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Post by busybee on Sept 8, 2024 20:38:52 GMT
Good to see that you are still on the ball Ace. Nice work Loanpad.
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Post by Ace on Sept 9, 2024 16:30:45 GMT
Another milestone for Loanpad was passed today; 500 loans repaid with no losses. Also, the total funds on the platform has now passed £97m, so rapidly heading towards the £100m milestone. Just 2 loan are currently in default, totalling £706k. Neither are suspended as they both are highly likely to repay in full. They represent just 0.73% of funds on the platform, so a total loss in both (near impossible) would be recovered by less than 6 weeks interest in the Premium account. Great work Loanpad. One of the loans that was in default is now back in good standing. So only £527k in default now (0.54% of funds on platform).
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Post by Ace on Oct 1, 2024 7:51:28 GMT
Another milestone was passed today: over 600 loans created. Now over 750 loans created. So, roughly a new loan every 1.4 days for the last 7 months.
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firedog
Member of DD Central
Posts: 367
Likes: 461
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Post by firedog on Oct 17, 2024 7:21:41 GMT
While it's no surprise that investor numbers continue their slow increase (up 10.7% in the last year), the average invested per lender is this morning (according to me at any rate) also at a record high: just nudging £17.8k.
It had been as high as £17.6k back in Nov 2022, but with the rise of interest rates, the average fell to about £16.1k in June 2023. It's been steadily rising since.
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Post by Ace on Oct 18, 2024 7:18:22 GMT
Total funds on the platform has now passed £95m. Edit 16/8/24: now passed £96m. Edit 7/9/24: now passed £97m. Edit 21/9/24: now passed £98m. Edit 8/10/24: now passed £99m. Total funds on the platform passed £100m for the first time today (18/10/24). Edit 7/11/24: now passed £101m.
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Post by df on Nov 15, 2024 20:02:07 GMT
While it's no surprise that investor numbers continue their slow increase (up 10.7% in the last year), the average invested per lender is this morning (according to me at any rate) also at a record high: just nudging £17.8k. It had been as high as £17.6k back in Nov 2022, but with the rise of interest rates, the average fell to about £16.1k in June 2023. It's been steadily rising since. I think I will be rejoining soon. My balance was at zero since 3rd April 2023, the difference between FSCS protected savings and LP wasn't worth the risk for for me at the time. Now the savings rates are reducing and LP's 6.5% is beginning to look competitive again. I forgot some nuts'n'bolts. Could someone remind me please  1. Does the deposit arrive to LP on the same day? 2. Any cut off times for deposits (incl. weekends)? 3. Do the funds get deployed on the day of instruction or the day after? 4. Are the withdrawals instant (same day arrival) or is it next working day?
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Post by Ace on Nov 15, 2024 20:23:50 GMT
While it's no surprise that investor numbers continue their slow increase (up 10.7% in the last year), the average invested per lender is this morning (according to me at any rate) also at a record high: just nudging £17.8k. It had been as high as £17.6k back in Nov 2022, but with the rise of interest rates, the average fell to about £16.1k in June 2023. It's been steadily rising since. I think I will be rejoining soon. My balance was at zero since 3rd April 2023, the difference between FSCS protected savings and LP wasn't worth the risk for for me at the time. Now the savings rates are reducing and LP's 6.5% is beginning to look competitive again. I forgot some nuts'n'bolts. Could someone remind me please 1. Does the deposit arrive to LP on the same day? 2. Any cut off times for deposits (incl. weekends)? 3. Do the funds get deployed on the day of instruction or the day after? 4. Are the withdrawals instant (same day arrival) or is it next working day? 1. Not usually. Normally turns up on next working day for me, but may turn up on same day if deposit was early morning. 2. Deposits only arrive on working days. 3. Transfers to investment accounts are processed between 01:00 and 04:00 including weekends. 4. Withdrawals are not instant, either same day or next working day. The earlier in the day the withdrawal instruction is made the more likely it will be same day. At least, that's my experience.
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Post by Harland Kearney on Nov 20, 2024 18:19:35 GMT
While it's no surprise that investor numbers continue their slow increase (up 10.7% in the last year), the average invested per lender is this morning (according to me at any rate) also at a record high: just nudging £17.8k. It had been as high as £17.6k back in Nov 2022, but with the rise of interest rates, the average fell to about £16.1k in June 2023. It's been steadily rising since. I think I will be rejoining soon. My balance was at zero since 3rd April 2023, the difference between FSCS protected savings and LP wasn't worth the risk for for me at the time. Now the savings rates are reducing and LP's 6.5% is beginning to look competitive again. I forgot some nuts'n'bolts. Could someone remind me please 1. Does the deposit arrive to LP on the same day? 2. Any cut off times for deposits (incl. weekends)? 3. Do the funds get deployed on the day of instruction or the day after? 4. Are the withdrawals instant (same day arrival) or is it next working day? No deposits or withdrawals on the weekend from my XP. So it is always best to deposit money on mon-thrus, same withdrawals so you don't lose any interest. Also, remember that classic account withdrawals have to be actioned on the following day when they do their nightly calculations, it isn't instant; something to keep in mind. Maybe this will change when they have their long-awaited backend update soon.
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firedog
Member of DD Central
Posts: 367
Likes: 461
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Post by firedog on Nov 20, 2024 20:33:09 GMT
I find that as long as I transfer before around 2pm it goes into the cash account that day - of course it's then transferred to the interest bearing account overnight, so doesn't actually start earning until the following day. But that second transfer is automatic - ie if I put money in Friday lunchtime, it will be transferred to the cash account that afternoon and will be earning interest on Saturday.
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