macq
Member of DD Central
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Post by macq on Jul 5, 2021 18:07:29 GMT
It is. If you have not yet tried using a conduit p2p platform like ours, rebuildingsociety.com, then you may appreciate the improved transparency. There is more information than on most platforms and a liquid secondary market. Though you should study the loan profiles to understand each business and the risks. Most the discretionary platforms predicate their business model on achieving a high lending volume, whereas our business model creates value in other ways. We lost a lot of customers in 2015 who switched to Lendy for the 'higher rates', 'simplicity' and higher lending volumes, by appealing to passive lenders. I was critical about the passive lending platforms in my response to the FCA's call for input in 2016. It is a pity the regulator waited for a failure before publishing its Post Implementation Review. We now have a much better sector, please give it another try. Having not considered you before and noting at least couple of mentions where you are against passive lending/lenders in your post and also a negative with regards Lendy and rhe use of "simplicity" it made me want to check out your products. Imagine my surprise when at the top of your home page the first words you see in large font on One of the Three scrolling banners are the words "earn a passive income with hassle free lending" So in other words simple & passive?
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Greenwood2
Member of DD Central
Posts: 4,385
Likes: 2,784
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Post by Greenwood2 on Jul 5, 2021 19:50:28 GMT
It is. If you have not yet tried using a conduit p2p platform like ours, rebuildingsociety.com, then you may appreciate the improved transparency. There is more information than on most platforms and a liquid secondary market. Though you should study the loan profiles to understand each business and the risks. Most the discretionary platforms predicate their business model on achieving a high lending volume, whereas our business model creates value in other ways. We lost a lot of customers in 2015 who switched to Lendy for the 'higher rates', 'simplicity' and higher lending volumes, by appealing to passive lenders. I was critical about the passive lending platforms in my response to the FCA's call for input in 2016. It is a pity the regulator waited for a failure before publishing its Post Implementation Review. We now have a much better sector, please give it another try. Having not considered you before and noting at least couple of mentions where you are against passive lending/lenders in your post and also a negative with regards Lendy and rhe use of "simplicity" it made me want to check out your products. Imagine my surprise when at the top of your home page the first words you see in large font on One of the Three scrolling banners are the words "earn a passive income with hassle free lending" So in other words simple & passive? I still don't understand the platform, I see various apparent bidding incentives, but no indication of what they are or how you get them, also very few loans, incentives might help if I understood them.
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Post by danraj on Jul 5, 2021 19:56:43 GMT
Thanks for taking a look. Fair point. But a passive-income refers to earning ongoing interest income, whereas passive-investing abdicates the lending decision to the platform. You may be interested in reading about the P2P BuyBack Guarantee here: www.rebuildingsociety.com/buyback-guarantee/We tend to encourage new / risk averse lenders to consider this option. It saves you from holding loans during the loan enforcement process, in exchange for a premium paid to the seller (the lender who arranged the loan and guarantees to buy it back if it fails to perform). We'll have a few more loans listed soon, so there will be a few more options. |
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