johnfleet
Member of DD Central
Posts: 170 
Likes: 85
|
Post by johnfleet on Sept 1, 2017 12:21:29 GMT
Based on today's monthly interest payment it looks like I'm now earning 7.6%. A far cry from the advertised 12 per cent which was being realised eighteen months ago. And why I'm running my investment in Lendy down. I know that at some unspecified future date I MAY see some or all of my capital returned on the many default loans and who knows, possibly some interest too, but that's all 'jam tomorrow'. What a shame that Saving Stream grew too big for their corporate boots and took their eye off the ball.
|
|
|
|
Post by p2plender on Sept 1, 2017 13:29:17 GMT
Not long ago I near enough lived off my monthly interest off Lendy, now it would barely cover a night out.
I've just a residual bit left. It was great while it lasted..
|
|
tombraider
Member of DD Central
Posts: 117
Likes: 103
|
Post by tombraider on Sept 1, 2017 14:58:22 GMT
Based on today's monthly interest payment it looks like I'm now earning 7.6%. A far cry from the advertised 12 per cent which was being realised eighteen months ago. And why I'm running my investment in Lendy down. I know that at some unspecified future date I MAY see some or all of my capital returned on the many default loans and who knows, possibly some interest too, but that's all 'jam tomorrow'. What a shame that Saving Stream grew too big for their corporate boots and took their eye off the ball. I'm about the same rate 8.1% last month but get the feeling when the defaults come through (assuming that the provision fund can't cover the capital losses) that i will have basically lost all the interest I've earned over the past few years so closer to the 0.5 % available in a current account....
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Sept 1, 2017 15:15:36 GMT
There are about 20 defaults on the site, I only opened an account 3 months ago spreading my investments over about 50 loans interest rate is about 10.5% on average, no defaults. The earlier posts seem to suggest a larger number of defaults than the site lists, is this the case or have the posters just been unlucky in their choices of investments?
|
|
btc
Member of DD Central
Posts: 193
Likes: 132
|
Post by btc on Sept 1, 2017 15:26:28 GMT
Lendy has been underpaying the interest for a while, EG I got £68.07 instead of £70.62 I have now taken the last lot out. The overall XIRR is 12.97%
|
|
mary
Member of DD Central
Posts: 698 
Likes: 711
|
Post by mary on Sept 1, 2017 15:28:43 GMT
I'm at 11% now with IA.
I expect to be above 12% temporarily, when 103 and 120 repay with bonus (assuming they do).
Only 1 worrying default potentially at present, but thats less than 2% of the portfolio, and hopefully that will at least recover capital at some point.
The key is to pay attention to all the crowd sourced DD here and lots of diversification! I'm sticking with Lendy, although there have been very few new loans that I like.
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Sept 1, 2017 16:02:38 GMT
In the 11 months since I started on Lendy, an average of 11.63% on my balance in my Lendy account.
I owned one 11% loan part but for a short time only. I decided I didn't like it!
The 0.37% below the expected 12% is due to some extended sales and the fact that in order to 'play' on the SM you need some funds on account which aren't earning any interest.
Prior to the demise of INPL on the SM, my average was just over 12%. The excess being due to two factors: * The odd extra day of interest you get when selling a loan part bought in a previous month. * The fact that occasionally, I had a day of interest on an INPL purchase before I funded my account.
|
|
johnfleet
Member of DD Central
Posts: 170
Likes: 85
|
Post by johnfleet on Sept 1, 2017 21:01:19 GMT
So as to compare like for like, how are you calculating that, johnfleet ? On paper, I'm 'earning' 12% but some of that is accruing. (And before GeorgeT chimes in with his "Mr 12%" mantra, I'd remind him that time on the SM needs to be included  ) Very simple (and crude) calculation - interest paid / capital - adjusted for no of days in the month and annualised. In the 'good 'ole days' before Lendy got above themselves and starting lending to any wanabee property speculator it worked well and produced the promised 12 per cent annual equivalent.
|
|
skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
|
Post by skippyonspeed on Sept 1, 2017 22:05:16 GMT
Based on today's monthly interest payment it looks like I'm now earning 7.6%. A far cry from the advertised 12 per cent which was being realised eighteen months ago. And why I'm running my investment in Lendy down. I know that at some unspecified future date I MAY see some or all of my capital returned on the many default loans and who knows, possibly some interest too, but that's all 'jam tomorrow'. What a shame that Saving Stream grew too big for their corporate boots and took their eye off the ball. My average is little over 12%. I suggest you change the way you run your account. There are still quite a lot of 12% loans to be had. I did park some cash in an 11% loan for a day or two, I wasn't particularly choosy as to the quality, just as long as I could sell it quickly when a 12% became available. I try to sell loans which are approaching 100 days left to run, I certainly do not sell anything which is likely to take longer than 24 hours as that is just "dead" cash.
|
|
|
|
Post by p2plender on Sept 1, 2017 23:05:48 GMT
"I certainly do not sell anything which is likely to take longer than 24 hours as that is just "dead" cash."
The cash is even more dead when the loan defaults...
|
|
tombraider
Member of DD Central
Posts: 117
Likes: 103
|
Post by tombraider on Sept 2, 2017 1:58:53 GMT
There are about 20 defaults on the site, I only opened an account 3 months ago spreading my investments over about 50 loans interest rate is about 10.5% on average, no defaults. The earlier posts seem to suggest a larger number of defaults than the site lists, is this the case or have the posters just been unlucky in their choices of investments? What happened in my case was I ended up stuck with loans with massive queues on the sm which dragged from 80 days to run into negative territory and consequently no interest payments. Some of these may pay out with the bonus some may not. There is little point listing a loan with 80 days to go and 100k on the sm queue as you will not get the loanpart sold yet lose 80 days interest. There will be a number of longer term investors caught in this situation..... there was a time you could sell at 100 days to go with no problem now however seems to be 150 days..... I don't think we were unlucky...... lendy changed the way interest was paid out so no negative day or close to negative days loans sold on the SM and so sales queues have become static....
|
|
GeorgeT
Member of DD Central
Posts: 1,321
Likes: 1,575
|
Post by GeorgeT on Sept 2, 2017 22:53:25 GMT
So as to compare like for like, how are you calculating that, johnfleet ? On paper, I'm 'earning' 12% but some of that is accruing. (And before GeorgeT chimes in with his "Mr 12%" mantra, I'd remind him that time on the SM needs to be included ) Yes indeed. I wish I could answer this question as for now but I can't because I don't run spreadsheets etc. I can say that during my first 2 years on SS/LY I definitely had a 12% return because all loans were 12% and there were no losses of either capital or interest. I always withdraw my interest each month so there was no compounded interest in my case. In my 3rd year with SS/LY I was foolishly tempted by a couple of 11% loans. Sold completely out of 1 after a few months but left it too late on the Welsh turreted property in which I still have a few hundred stuck in a sale queue and heading for default. So I guess my 3rd year return was something like 11.5% Over the last 3 or 4 months I have constantly had a proportion of my LY loanbook up for sale and not earning. Soon I hope to be in the prime position of having all my LY money earning me 12% but currently only 92% of my account balance is invested and earning me 12% because of the Welsh beauty and what I've got left in Exeter and the Arboretum (extension on website fast please so I can sell that!). So I guess my current annual rate of return is somewhere around 10% or just over, despite all my active money being invested at 12%. However when I work out my return in my head I ignore my "Balance" figure and look at my "Live Loan Parts" figure. When I adopt that approach I am earning 12% as all my Live Loan Parts stuff is IA and 12%.  ( On MT my situation is better because although I have some cash tied up in Birkenhead, it is still paying interest .. although I have a bit in Lytham as well, but with my 13%ers I reckon I'm genuinely on 12% on MT without adopting my rose tinted analysis methodology. My highest current return is on COL where I must be 13%+ overall as I have some 14% and 15% over there). So, taking all my platforms as a whole - and I have roughly equal amounts invested on LY, MT and COL - I think I'm still entitled to be Mr 12%. Even taking LY in isolation, it's still very good compared with a building society or bank savings account so I think all of us are still doing very well on LY - unless someone's got a really duff portfolio comprising mainly overdue and default loans.
|
|
|
|
Post by p2plender on Sept 3, 2017 0:34:11 GMT
There are about 20 defaults on the site, I only opened an account 3 months ago spreading my investments over about 50 loans interest rate is about 10.5% on average, no defaults. The earlier posts seem to suggest a larger number of defaults than the site lists, is this the case or have the posters just been unlucky in their choices of investments? What happened in my case was I ended up stuck with loans with massive queues on the sm which dragged from 80 days to run into negative territory and consequently no interest payments. Some of these may pay out with the bonus some may not. There is little point listing a loan with 80 days to go and 100k on the sm queue as you will not get the loanpart sold yet lose 80 days interest. There will be a number of longer term investors caught in this situation..... there was a time you could sell at 100 days to go with no problem now however seems to be 150 days..... I don't think we were unlucky...... lendy changed the way interest was paid out so no negative day or close to negative days loans sold on the SM and so sales queues have become static....More like Lendy chose to fill the pipeline with lots of what I regard as sub standard offerings. I lost lots of interest in the flood of 'exiteers'. In the meantime, I've lost faith in the loan book as well as the UK economy. I've now become super selective in p2p.
|
|
|
|
Post by charliebrown on Sept 3, 2017 1:34:50 GMT
Based on today's monthly interest payment it looks like I'm now earning 7.6%. A far cry from the advertised 12 per cent which was being realised eighteen months ago. And why I'm running my investment in Lendy down. I know that at some unspecified future date I MAY see some or all of my capital returned on the many default loans and who knows, possibly some interest too, but that's all 'jam tomorrow'. What a shame that Saving Stream grew too big for their corporate boots and took their eye off the ball. I'm about the same rate 8.1% last month but get the feeling when the defaults come through (assuming that the provision fund can't cover the capital losses) that i will have basically lost all the interest I've earned over the past few years so closer to the 0.5 % available in a current account.... Interesting to hear some people saying they are getting 12%. They've seemingly avoided any default loans and never had cash stuck in the SM. The way LY dynamics have changed, I don't think it's realistic to expect 12% is the norm. I'm currently wrapped up in a couple of loans that look to be a total disaster. Worst case scenario would pretty much wipe out any gains I've had over the past 18 months and put my returns at about 1%. When I factor in the capital losses I sustained at Funding Circle then I will have made 0% and have actually lost some capital over the 18 months. The only good news I have is it would have been far worse had I not heeded the advice I'd read on this forum. I managed to avoid quite a few default loans by listening to the senior members who said they were very high risk. My experience tells me, LY due diligence is not robust and shouldn't be trusted. Do your own DD and be very selective about which loans you invest in. If you don't know how to do thorough DD then read this forum and thank the guys that are doing it for us. Go for the 12% loans and the loans given a green light on this forum. The downside is by being ultra selective you might not be able to get as much money in as you'd like as you still shouldn't put too many eggs in too few baskets. I don't think it's realistic to expect 12% for life 
|
|
|
|
Post by p2plender on Sept 3, 2017 1:56:34 GMT
If you got out just before they abolished inpl then you'd have got 12% no problem.
|
|
)
