Post by stevefindlay on Aug 23, 2017 16:15:09 GMT
Investor demand: In light of recent events at Ratesetter, changes to Ts&Cs at FundingCircle and the increased impairments at Zopa (amongst other things), we are seeing an increase in new investment from clients and increased bidding activity for loans on third party P2P lending sites.
Loan supply: We are also seeing a slow down in new loans being written over the summer generally; and also have some concerns with respect to pricing on more loans than usual (e.g. we are passing on more loans than usual because the rates appear too low and/or the risks too high). We remain steadfast in our conviction to only approve good quality loans for clients.
So, we are asking clients to be a bit more patient than usual and expect slightly longer loan allocation periods over the next couple of months. We continue to add more lenders, and hope to clear the backlog promptly.
I hope you respect our stance on prioritising loan quality over investment speed; and the importance of being well diversified (i.e. a minimum of 50-100+ positions per client).
Loan supply: We are also seeing a slow down in new loans being written over the summer generally; and also have some concerns with respect to pricing on more loans than usual (e.g. we are passing on more loans than usual because the rates appear too low and/or the risks too high). We remain steadfast in our conviction to only approve good quality loans for clients.
So, we are asking clients to be a bit more patient than usual and expect slightly longer loan allocation periods over the next couple of months. We continue to add more lenders, and hope to clear the backlog promptly.
I hope you respect our stance on prioritising loan quality over investment speed; and the importance of being well diversified (i.e. a minimum of 50-100+ positions per client).