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Post by supernumerary on May 2, 2017 19:59:12 GMT
1 Investors just invested £1 and is the only investor  Edit - Thier £1 was returned. Strange I was that 'one investor' had my £1 worth of loan and then it disappeared from my loans still shows in my activity as a £1 purchase, but not got my £1 back yet ! James, does this mean you are now returning to Saving Stream? 
Or did Saving Stream return the £1 to you? 
C&P from the thread 'WHY I AM LEAVING SAVING STREAM';
When I first joined SS over two years ago when they were first getting in to property backed lending it had a number of unique USP'S 1/ It was simple all loans at 12% so it did not price risk. 2/ INPL which was great and allowed one to invest quickly. 3/ A provision fund. 4/ A very liquid SM so if you needed funds quickly you could sell almost instantly.
As a result well over half of my P2P funds went to SS, however now every one of those USP'S have gone I am getting out but oh no 'I cant' ! Because other than a couple of loans I have no chance of selling unless I sit at the end of an unmoving queue owning no interest, when we complained about not being able to buys loans on the SM some 12 months ago we were told the primary reason for the SM was to provide liquidity to those wishing to sell loans! So much for that idea !!!!
At least on FS where I now have the largest part of my P2P funds if I want out I can discount my loan parts and they WILL sell.
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Post by chielamangus on May 2, 2017 20:35:03 GMT
.... I have been investing in various areas for 20 years or so and I have been active in the P2P sector for about 4 years now and I can honestly say I have never lost a penny of my money. I would say that my track record of success, underpinned by strategic caution and a finely tuned nose for downturns and difficulties, speaks for itself. ..... Hubris springs to mind ....
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GeorgeT
Member of DD Central
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Post by GeorgeT on May 2, 2017 20:38:25 GMT
I have had a prosperous day of selling on the secondary market and shifted some more loan parts I wish to be rid of. One punter took a 10k chunk out of one of the Devon loans which cleared me out of that one in one fell swoop.
I should be totally out of the London flats by this time tomorrow and then there is just one sub 100 day loan left for me to shift and then I am in 100% long dated 12% territory loans of which there is none available on the secondary market and therefore I have total liquidity and 12% in the bag.
Others can continue with their extensive Sherlock Holmes amateur due diligence approaches but my approach is the approach that is producing real-world results with minimum risk.
Happy investing to one and all.
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Liz
Member of DD Central
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Post by Liz on May 2, 2017 20:56:48 GMT
I have had a prosperous day of selling on the secondary market and shifted some more loan parts I wish to be rid of. One punter took a 10k chunk out of one of the Devon loans which cleared me out of that one in one fell swoop. I should be totally out of the London flats by this time tomorrow and then there is just one sub 100 day loan left for me to shift and then I am in 100% long dated 12% territory loans of which there is none available on the secondary market and therefore I have total liquidity and 12% in the bag. Others can continue with their extensive Sherlock Holmes amateur due diligence approaches but my approach is the approach that is producing real-world results with minimum risk. Happy investing to one and all. I'm wondering if holding any p2p loan until maturity is a mug's game. I've held and sold a lot of loans that have saved me a lot of money.
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GeorgeT
Member of DD Central
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Post by GeorgeT on May 2, 2017 21:20:36 GMT
Cash drag is an issue that I don't Factor into my equations and I admit that. I am far from a professional investor. I am somebody who is capital rich but income poor and therefore I rely on income from my capital to live. However because I have capital if I feel the need for any reason to reduce my investments I return the money to my bank account where it earns nothing for a few days or whatever until I can re invest it. During those slack periods I may eat into my capital a bit but not very much.
So I suppose if I was to factor the down time into my figures I would not be getting 12% but then all I think about is getting 12% or 11% while my money is invested.
I have made withdrawals from this platform on every day in the last week and I will be putting another withdrawal request in before I go to bed tonight. The effect is that I will have about 15K less on this platform then I had a week ago and that money will largely be sitting in my bank account.
But I would rather that than invest in anything just to be earning because I try to minimise my risk as far as possible.
I'm not one of those people who thinks I've got x amount of pounds available to invest and I must have every pound of it invested and earning on every day, regardless of the risk.
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Post by df on May 3, 2017 2:33:30 GMT
ISTM that any borrower who has allowed their loan to become at least six months in arrears has defaulted in a real way. But that's JMHO and I'd be pleased to learn of circumstances where that might not be the case. Apart from the label, what's the difference between IA and DEF? I think DEF should be reserved for when the receivers are sent in. At the moment it is completely meaningless. May be they should create another one for -270 days loans to follow -90 days pattern. Doesn't make much difference, nobody wants to buy or refinance these projects. PBL 074: 5 months ago "We are in the process of appointing receivers to help focus the Borrower\'s mind in repaying. This should, hopefully help in getting repayment more quickly." 4 days ago "Our agents are visiting the site shortly to confirm it is being cleaned up..." It is 302 days overdue now and they don't care to elaborate on this 'mind focusing" process and why it takes 10 months for overdue loan to get cleaned up for auction sale?
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Post by jackpease on May 3, 2017 5:32:22 GMT
My personal opinion is that I'm cautious when investing on Lendy. For example, I might be misguided but I've often invested blindly on MT as I sort of think if it's good enough for MT it's good enough for me. With Lendy I never think like that Well Lendy/SS did go through a similar 'can't put a foot wrong' stage when it was small, young and not mature enough to have to deal with defaults. At that point people trusted its judgment. When MT has to deal with failures, euphoria will subside and 20/20 hindsight criticism will kick in (I believe a lot of criticism of SS is not because they are doing anything differently rather that during the euphoria stage they were not forensically scutinised). I think loud disapproval on this forum does not necessarily mean a platform is bad/changed for the worse, conversely i don' think darling-status on this forum necessarily means a platform is safe. Darling status is actually far more dangerous as things slip through unobserved and/or unchallenged. Jack P
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jamesc
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Post by jamesc on May 3, 2017 7:43:43 GMT
I was that 'one investor' had my £1 worth of loan and then it disappeared from my loans still shows in my activity as a £1 purchase, but not got my £1 back yet ! James, does this mean you are now returning to Saving Stream?
Or did Saving Stream return the £1 to you?
C&P from the thread 'WHY I AM LEAVING SAVING STREAM';
When I first joined SS over two years ago when they were first getting in to property backed lending it had a number of unique USP'S 1/ It was simple all loans at 12% so it did not price risk. 2/ INPL which was great and allowed one to invest quickly. 3/ A provision fund. 4/ A very liquid SM so if you needed funds quickly you could sell almost instantly.
As a result well over half of my P2P funds went to SS, however now every one of those USP'S have gone I am getting out but oh no 'I cant' ! Because other than a couple of loans I have no chance of selling unless I sit at the end of an unmoving queue owning no interest, when we complained about not being able to buys loans on the SM some 12 months ago we were told the primary reason for the SM was to provide liquidity to those wishing to sell loans! So much for that idea !!!!
At least on FS where I now have the largest part of my P2P funds if I want out I can discount my loan parts and they WILL sell. Just curiosity, but then you know what curiosity did to the cat !
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mikeh
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Post by mikeh on May 3, 2017 7:44:04 GMT
8:45 DFL024: Availability now £114k, Sale Queue £5k
8:48 £120k, £5k
11:05 £113k, £0
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r1200gs
Member of DD Central
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Post by r1200gs on May 3, 2017 10:42:59 GMT
The way I see it the market has just got more picky. One half decent loan I'm selling has not had a sniff all day and only sold a couple of thousand yesterday, but some loans are still a game of FFF to grab a bit. What we need is a nice repayment or two, and all too rare event I fee. Come on Lendy, send the boys in and break a few legs! (Do I have to explain that I was not serious about the legs?). |
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Post by charliebrown on May 3, 2017 13:51:57 GMT
My personal opinion is that I'm cautious when investing on Lendy. For example, I might be misguided but I've often invested blindly on MT as I sort of think if it's good enough for MT it's good enough for me. With Lendy I never think like that Well Lendy/SS did go through a similar 'can't put a foot wrong' stage when it was small, young and not mature enough to have to deal with defaults. At that point people trusted its judgment. When MT has to deal with failures, euphoria will subside and 20/20 hindsight criticism will kick in (I believe a lot of criticism of SS is not because they are doing anything differently rather that during the euphoria stage they were not forensically scutinised). I think loud disapproval on this forum does not necessarily mean a platform is bad/changed for the worse, conversely i don' think darling-status on this forum necessarily means a platform is safe. Darling status is actually far more dangerous as things slip through unobserved and/or unchallenged. Jack P I get the feeling that most of the key contributors on these pages are very pro-Lendy. The views expressed are generally balanced and factual. The disapprovals come constructively and are generally aimed at Lendy's seemingly loose DD. Read back over some of the excellent DD done by members on these pages where gaping holes were identified in Lendy's DD and some loans were jokingly labelled "barge pole". Sure enough, a lot of these "barge pole" loans have ultimately hit trouble. My Favourite was the debate where someone had said (words to the effect) that not only should a certain borrower be rejected for a loan he should probably be thrown in jail. I sit laughing at the wit and sense of humour of some members, priceless
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Post by GSV3MIaC on May 3, 2017 20:19:51 GMT
/Mod hat off
Hey, it's even better over at Assetz, where one of their borrowers actually WAS thrown in jail (sadly the DD didn't entirely spot that ahead of time).
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treeman
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Post by treeman on May 3, 2017 23:08:05 GMT
23:58 Flippin' Eck !!!!! DFL004 - Someone just swallowed the lot !!!!!! BHs are definitely not dead !!!! imgur.com/a/Axo7j00:14 Bit of weirdness now - £37k showing available on SM, but a sale queue of £82k ................ |
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Post by lendinglawyer on May 3, 2017 23:14:05 GMT
23:58 Flippin' Eck !!!!! DFL004 - Someone just swallowed the lot !!!!!! BHs are definitely not dead !!!! imgur.com/a/Axo7jWhat an absolute baller!
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GeorgeT
Member of DD Central
Posts: 1,322
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Post by GeorgeT on May 3, 2017 23:15:54 GMT
23:58 Flippin' Eck !!!!! DFL004 - Someone just swallowed the lot !!!!!! BHs are definitely not dead !!!! imgur.com/a/Axo7jI just commented on this in the DFL004 thread before reading your post. But after looking at your screenshot I'm confused. I put some of this loan up for sale yesterday and it hasn't sold and is still £3.4k from the front of the sale queue ... 20/01/2017 02/05/2017 3 months £200.00 £6.71 12% 0.0% £3,439.09 If this investor had bought it down to £0 remaining tonight then my part listed yesterday would have sold.. which it hasn't. Scratches head ..
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