bababill
Member of DD Central
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Post by bababill on Jun 1, 2017 13:04:51 GMT
I am happy and confident with the loans I hold. Yes I tried to sell but no buyers so I cancelled. If my two loans were formally extended by six months I would be delighted.
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jun 1, 2017 14:53:57 GMT
It is still early hours, what with people being at work or out, and I expect a spike in activity during the evening. However, overall and so far, I would say today's interest payout has had the least effect on the SM and sales queues in recent memory. This does suggest that more players than ever are choosing to withdraw their interest, either to invest elsewhere or to keep. A pipeline comprising only 7% and 8% loans will be doing nothing to encourage people to keep the cash on this platform.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Jun 1, 2017 16:12:25 GMT
Actually, Dude, I feel rather short changed, can I have a Dollar's worth please?!!  |
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chunkie
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Post by chunkie on Jun 1, 2017 16:26:27 GMT
But what will it be this time tomorrow after the interest run? I estimate it will be down to about £3.5m After interest payments, SM has increased to $4.76 million!
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jun 1, 2017 16:40:26 GMT
But what will it be this time tomorrow after the interest run? I estimate it will be down to about £3.5m After interest payments, SM has increased to $4.76 million! I've just been on a currency converter and $4.76m = £3.69m. So I was close Seriously, it's clear from the numbers that quite a lot of people are falling out of love wth Lendy.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 1, 2017 16:41:58 GMT
I guess that's all those who wanted out but were not prepared to lose a month's interest?
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Jun 1, 2017 16:44:44 GMT
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username
Member of DD Central
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Post by username on Jun 1, 2017 18:15:33 GMT
I have to believe that this in is part due to uncertainty around the election.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jun 1, 2017 18:22:09 GMT
I have to believe that this in is part due to uncertainty around the election. What, exactly, is uncertain about the election? 
N.B.: Most definitely a rhetorical question.
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Post by yorkshireman on Jun 1, 2017 18:23:15 GMT
uncertainty around the election. Nah, that's all false news being put out as a result of momentum infiltrating the media and YouGov.
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copacetic
Member of DD Central
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Post by copacetic on Jun 1, 2017 18:49:25 GMT
There wasn't much change in the SM on the last interest day - there was a bit of a churn, but quickly replaced by others adding to the list LY need more investors - they have reached saturation point, and the knock on effect is others looking to move money. I honestly think the lower rates have had an effect - yes the loans fill, but investors are realising that they are getting a raw deal, and possibly feel a bit cheated; other platforms carry more trust and, when the opportunities arise (and there are several out there), investors are more likely to move their money to these platforms It is my opinion that LY needs to offer loans at a fair rate that represents the risk. That doesn't mean all 12% (although, if you ask me, that was a very good selling point LY have now lost), but simply means not trying to fool investors with applying rates against size. Once again - yes, these loans fill - but there is a wider issue with trust that has far-reaching effects Just my 2 cents worth on the situation Agreed. I expect that Lendy have their finger on the pulse sufficiently that to see that investor money is leaving the platform or a least coming in much more slowly since they've boosted their refer a friend scheme today. Personally however I don't think this is the way to go about sorting investor confidence and clearing the secondary market/fulfilling new loans though because I would only consider referring any actual friend or family member if I thought Lendy was the best option on the market. The way to show they're the best on the market for investors is to improve their loans to good realistic LTVs with good exit strategies and borrowers with no obvious red flags. With some of the recent loans in their current loan book I think they've stored up problems for 6 months down the line unfortunately (did DLF025 even fill or is that still underwritten parts on the SM?). That said I do like the platform and still have a fair chunk invested and I hope that they're reading these forums and considering how to improve rather than focusing on short term growth.
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Post by lusitania on Jun 2, 2017 6:11:28 GMT
My 2 pennies worth... platform saturation is a good explanation but also not enough lenders due to people leaving the platform, SM long queuing, less attractive rates, defaults and partially communication issues.
I'm one of those that stopped buying on the SM. On the other hand I'm not selling either. I believe the loans I hold, mainly DFL's, are good enough to retain until term.
Last month I went 8% above my p2p limit allocation due to the battle among platforms so there's no more spare cash lying around to invest.
Recent changes on T&C's from Z & RS alongside with ludicrous new rates made me move capital and interest to AC 30DAA promotional rate for 'liquidity' purposes.
Interest on COL reinvested on COL. Interest on MT reinvested on MT. Still withdrawing from FC properties now that they decided to stop doing that kind of business. Might try a new platform for further diversification.
All in all, I do believe Lendy tried to outgrow themselves too quickly, without enough lenders (hence this new refer a friend campaign) and dropping the rates versus risk to such a level that I don't find it justifiable or comfortable to invest on new loans. Having said that, if I had just started on L, I would still purchase on the SM some very good parts, albeit in moderation. Just my 2 pennies.
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trevor
Member of DD Central
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Post by trevor on Jun 2, 2017 10:36:44 GMT
I agree with a lot of the comments in this thread. I for one am only lending to the 12%ers. So cash that would have gone to Lendy has gone elsewhere, FS (love the ISA) and MT (wish they had an ISA). However, the thread title is a little OTT I feel, nothing personal p2plender, you make good points with your posts. There is just 1.5% of the total lent funds on the SM which gives new investors the ability to get invested immediately which I for one did not have the chance when I started which is so long ago! Also this means that the provision fund is being added to though the fact we now nothing about it is disgraceful, I wonder if it even exists anymore. They made such a big noise about it when they opened it.
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elliotn
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Post by elliotn on Jun 2, 2017 13:58:14 GMT
After interest payments, SM has increased to $4.76 million! $? Has something drastic occurred - did I miss it  I have to stick to no symbol or GBP - ruddy foreign keyboards!
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gurberly
Member of DD Central
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Post by gurberly on Jun 2, 2017 14:23:19 GMT
I have to stick to no symbol or GBP - ruddy foreign keyboards! If you have an Alt key hold that down and type 0163
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