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Post by Ace on Oct 23, 2021 16:58:39 GMT
This seems to be a dilemma for some lenders, not just here but elsewhere (Assetz Capital's Access Account, for example). Some people worry about how much they are exposed to a particular borrower, but they're not. If your borrower who has 5% of your funds defaults you still get your 3-4% interest. You are still able to withdraw up to 100% of your investment subject to notice requirements. The exposure to individual borrowers is immaterial. Unless, of course, the platform is unable to meet its obligations. Also it seems there are a number of extended loans with no ICF, which I assume means you don't get any interest on these loans. You do still get interest. The "No ICF" indicates that they don't need to use the Interest Coverage Fund because the borrower is still paying interest.
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mogish
Member of DD Central
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Post by mogish on Oct 27, 2021 10:49:02 GMT
im liking investing with Loanpad , seems to be very little posts , they tick along quietly. Long may it continue.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Oct 27, 2021 10:54:47 GMT
im liking investing with Loanpad , seems to be very little posts , they tick along quietly. Long may it continue. As regards the "very little posts", the massive problem in that regards with Loanpad is that "they tick along quietly". It's not an Alton Towers white knuckle ride like with almost every other P2P platform where there are downs and downs on a regular basis which inevitably lead to anxious and stressed investors posting on these forums. Therefore, because LP is stable (for now), people don't post about it very often on these forums. As you say, long may that stability continue.
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Post by Ace on Nov 16, 2021 15:55:16 GMT
Loanpad crossed the £45m funds on platform line for the first time today. That reduces the maximum funds in any 1 loan under the 5% level for the first time. The second largest loan is under 2.8% of funds on platform. The average loan size is now under 0.8% of funds on platform. Diversification is certainly heading in the right direction. We'll done Loanpad.
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Post by Ace on Dec 22, 2021 14:50:06 GMT
The largest loan on Loanpad (9519806) was increased today to £2,392,911, so now represents just over 5% of funds on the platform again. It's a relatively high LTV at nearly 50% but only a 12% LTGDV. The borrower has already repaid 3 other loans. I'm fairly relaxed about this given that it's the only loan that's anywhere near this big, but I'd much rather Loanpad avoided loans of this size until it has grown the platform considerably. Sticking to something like 2.5% of funds on platform per loan would be my preference.
The number of loans (now 123), total funds on platform (now £47.46m) and number of investors (3371) all keep heading in the right direction. Still just 7 lending partners, and average LTV is 42%.
Another loan (9876240) is now utilising the ICF to pay its interest. It's a small loan £162.5k, so only represents 0.34% of funds on the platform.
It will be interesting to see if 4thWay's recent recommendation that Loanpad is a good place for ex-Zopa cash will boost the number of lenders.
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alibaba
Member of DD Central
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Post by alibaba on Dec 22, 2021 15:23:06 GMT
Thanks for keeping your eye on Loanpad Ace, I am considering increasing my lending in Loanpad by a significant amount, will put this on hold for now. Having my fingers burnt in the early days by AC I am now a little more cautious.
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mogish
Member of DD Central
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Post by mogish on Dec 22, 2021 17:04:47 GMT
Yes thanks for this Ace. I think we all need to be cautious after the last few years p2p history. Its tempting to keep piling in chasing returns , just remind yourselves of how many platforms have had issues V those that have not. So far LP has been stress free , easy to use and quick to action isa transfers...long may it continue.
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Post by df on Dec 22, 2021 21:38:21 GMT
The largest loan on Loanpad (9519806) was increased today to £2,392,911, so now represents just over 5% of funds on the platform again. It's a relatively high LTV at nearly 50% but only a 12% LTGDV. The borrower has already repaid 3 other loans. I'm fairly relaxed about this given that it's the only loan that's anywhere near this big, but I'd much rather Loanpad avoided loans of this size until it has grown the platform considerably. Sticking to something like 2.5% of funds on platform per loan would be my preference. The number of loans (now 123), total funds on platform (now £47.46m) and number of investors (3371) all keep heading in the right direction. Still just 7 lending partners, and average LTV is 42%. Another loan (9876240) is now utilising the ICF to pay its interest. It's a small loan £162.5k, so only represents 0.34% of funds on the platform. It will be interesting to see if 4thWay's recent recommendation that Loanpad is a good place for ex-Zopa cash will boost the number of lenders. Keep it quiet or LP might have to introduce the queue Looks to me that LP is the only quick access/and quick investment provider on p2p market. I'm not in many functioning platforms anymore so might be wrong.
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Post by df on Dec 22, 2021 21:48:57 GMT
Yes thanks for this Ace. I think we all need to be cautious after the last few years p2p history. Its tempting to keep piling in chasing returns , just remind yourselves of how many platforms have had issues V those that have not. So far LP has been stress free , easy to use and quick to action isa transfers...long may it continue. And customer care. Contacted them once with a self-inflicted problem, quick reply and solved imminently
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Post by Ace on Dec 22, 2021 22:00:29 GMT
Yes thanks for this Ace. I think we all need to be cautious after the last few years p2p history. Its tempting to keep piling in chasing returns , just remind yourselves of how many platforms have had issues V those that have not. So far LP has been stress free , easy to use and quick to action isa transfers...long may it continue. And customer care. Contacted them once with a self-inflicted problem, quick reply and solved imminently That's not very quiet 🤣
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Post by Badly Drawn Stickman on Dec 22, 2021 22:09:50 GMT
And customer care. Contacted them once with a self-inflicted problem, quick reply and solved imminently That's not very quiet 🤣 Maybe two wrongs do make a right.
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Post by Ace on Jan 6, 2022 8:12:31 GMT
According to the repayments tab, the only loan that was drawing on the ICF has now repaid. The stats and loan doc haven't been fully updated yet, but they are half way to showing this.
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Post by kevin1841 on Jan 6, 2022 11:29:59 GMT
Wow, that was a speedy spot, Ace!
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Post by Ace on Jan 15, 2022 10:00:34 GMT
Total funds on the platform passed the £50m mark for the first time today.
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Post by Ace on Apr 15, 2022 6:59:57 GMT
Total funds on platform passed £60m for the first time today, no doubt boosted by the new ISA season.
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