adrianc
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Post by adrianc on Sept 23, 2016 7:59:59 GMT
Where are you putting the start line in the race to the exit? The first anniversary of the money being deposited and lent out? Or the first anniversary of the bonuses being paid, nearly a month later?
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awk
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Post by awk on Sept 23, 2016 8:35:06 GMT
I was thinking the same .
Interestingly, on my Wife's account there is a stated date. If you go in and ask to withdraw money it is limited (forces you to keep £150 as cash?) until a specific date. This is the anniversary of date the £1000 was deposited and invested.
However, my account doesn't have any limit - not sure why they are different.
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pom
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Post by pom on Sept 23, 2016 8:56:44 GMT
I think I'm going for the anniversary of the bonus being paid (although the Ts&Cs would appear to suggest it's from when the money was fully invested), but for me it was only a couple of days after I invested anyway (a year ago this weekend).... not expecting quick SM sales anyway  (I don't see any limits or dates, but I still have the bonus fully invested anyway...JUST!! £1100.90 invested in loans !!) |
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mb
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Post by mb on Sept 23, 2016 20:57:18 GMT
Where are you putting the start line in the race to the exit? The first anniversary of the money being deposited and lent out? Or the first anniversary of the bonuses being paid, nearly a month later? The bonus played a part in my initial decision to try LC but I have no plans to exit. On the contrary I expect to invest a little more over the next year.
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jimbob
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Post by jimbob on Sept 23, 2016 21:35:23 GMT
Where are you putting the start line in the race to the exit? The first anniversary of the money being deposited and lent out? Or the first anniversary of the bonuses being paid, nearly a month later? The bonus played a part in my initial decision to try LC but I have no plans to exit. On the contrary I expect to invest a little more over the next year. I think my decision on that will be based on how S******* and A********** are handled (The two non-lost defaults)
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pom
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Post by pom on Sept 28, 2016 8:30:39 GMT
Sheesh they don't make it easy.... took me 25mins to put everything sellable on sale. So far my probable losses are less than the bonus, but who knows how long it'll take to exit - would be nice if I could get out before the end of the tax year but won't hold my breath...
If there'd been a lot more volume I might have stuck around (although I'm not sure their website will scale well) - as it is it would just take me too long to comfortably get to my "worth bothering" threshold
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jimbob
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Post by jimbob on Sept 28, 2016 8:54:18 GMT
I might have a gander at the accounts of A************** S*********** (At year end), my largest investment is in them as thy seem to be a solid company unlike some others.
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SteveT
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Post by SteveT on Sept 28, 2016 9:04:03 GMT
I find it amazing that so much was spent signing up new lenders to invest an initial £1000, but nothing was done to respond to the vocal feedback from many about what was needed for them to lend more (i.e. a fundamental rethink of the SM and better management of "underwriters" in new loan auctions). I gave up even logging in after about 4 months and have now pulled the ejector seat lever too.
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adrianc
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Post by adrianc on Sept 28, 2016 9:27:07 GMT
I gave up even logging in after about 4 months and have now pulled the ejector seat lever too. Have you had your bonus pulled for falling under the minimum invested? FWIW, I don't necessarily think the SM needs a "fundamental rethink" - it might work quite well, if only there was a critical mass. The biggest failing is that there's just not enough life.
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SteveT
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Post by SteveT on Sept 28, 2016 9:30:30 GMT
I complied with the requirement to keep the £1000 invested for 12 months so would be more than annoyed if there is any attempt to do so.
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Steerpike
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Post by Steerpike on Sept 28, 2016 9:53:40 GMT
I am reasonably happy with LendingCrowd.
Since joining in September last year I have invested modestly in a wide range of loans and currently hold 57.
There has been only one that has defaulted and this is now in the hands of legal agents.
Overall XIRR including promotions is 19.72%, excluding promotions 10.09%, and excluding promotions and assuming a 50% loss on A****** B** 8.78%.
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arbster
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Post by arbster on Sept 28, 2016 10:21:31 GMT
I am reasonably happy with LendingCrowd. Since joining in September last year I have invested modestly in a wide range of loans and currently hold 57. There has been only one that has defaulted and this is now in the hands of legal agents. Overall XIRR including promotions is 19.72%, excluding promotions 10.09%, and excluding promotions and assuming a 50% loss on A****** B** 8.78%. You got luckier than me on the defaults, but assuming a 50% loss on A****** B** my return is starting to edge back towards the 6% mark, even without the bonuses. I'm not planning to sell down my investments, and continue to reinvest in new loans, where my DD allows, although the last minute gazumping is rather wearing and gets in the way of me remaining fully invested. I'm slightly concerned that they may struggle to fill loans even more than usual, if other investors are pulling out in numbers, and notice the extended D** I** S******* is still underfunded despite a £62k boost from S**.
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pom
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Post by pom on Sept 28, 2016 11:55:07 GMT
Wow - stuff is actually selling - still have the same number of loan parts tho....several of them now less than £1 in size....one of them only 5p!!!! Gee that'll earn a lot if it doesn't sell
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pom
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Post by pom on Sept 28, 2016 12:06:18 GMT
O..M..G
Just realised that where they've sold the majority of my loan part they've now removed the shrapnel from the market and it's now "disabled".... I assume cos they're now too small to sell which is hardly my fault!
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Post by GSV3MIaC on Sept 28, 2016 12:08:47 GMT
I think there's something weird about the SM sales, where some part of this month's capital repayment can't be sold, you have to wait to get it from the borrower (or not)? That's the only explanation I can come up with for why there is all this shrapnel left over .. or maybe the SM is just even more weird than I realised?!? I'm with SteveT .. the SM is horrid and opaque (even on ReBS I managed to achieve an exit in a sensible time), the bidding (in 0.05% steps) is equally horrid, and the underwriter last minute knock-outs are the icing on the cake. LC have been told what people don't like (and there have been few dissenting opinions), and have changed nothing. |
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