Peer-to-peer lending sites: MSE guide discussion

bxboards

Toe_Dipper wrote: »

Now that property lending is over, maybe we’ll get back to real p2p returns.

I never liked FC due to far too many 'unexpected tax bill' type loans.

However I consider a property loan (bridging rather than multi-tranch development loan) far more secure than lending to a limited company. The issue for you was the platform itself, not property loans per se.

I consider SME loans far more likely to default and with a Ltd company, the directors aren't on the hook (a personal guarantee is worthless more often than not).

AdrianC

keyboardworrier wrote: »

If anyone is invested in either DFL016 or DFL017 on Lendy and hasn't been taking too much notice of events I would advise you check the latest updates ASAP.

I think you must mean the email sent to every investor in those two loans. The published updates don't reflect that information, which Lendy are quite explicit is not for public sharing.

keyboardworrier

AdrianC wrote: »

I think you must mean the email sent to every investor in those two loans. The published updates don't reflect that information, which Lendy are quite explicit is not for public sharing.

Non lenders in these loans cannot see the information, it was just a general comment for those that are invested and may not have been paying too much attention to the situation. I never had any intention of sharing any information.

masonic

Mutton dressed as lamb no doubt. Good luck to all who still have money invested in Lendy.

AdrianC

keyboardworrier wrote: »

Non lenders in these loans cannot see the information, it was just a general comment for those that are invested and may not have been paying too much attention to the situation. I never had any intention of sharing any information.

I think you missed the important part of my post.

The relevant updates are not on the "Recent Update" tabs of the loans, even for lenders. They were emailed to all lenders.

keyboardworrier

AdrianC wrote: »

I think you missed the important part of my post.

The relevant updates are not on the "Recent Update" tabs of the loans, even for lenders. They were emailed to all lenders.

Well it wasn't emailed to me and I am a lender. Just to be clear, do you mean the information you have received is different to the latest update on the portal Lendy have set up for investors? If so I will contact Lendy and ask for an update, thanks for the info.

AdrianC

I'm referring to the 27/9 email - "Time sensitive and urgent update".

That's very different to the most recent entry on the "Recent Updates" tabs on the two loans, which is just the usual bland platitude.

What do you mean by "the portal Lendy have set up for investors"?

keyboardworrier

AdrianC wrote: »

I'm referring to the 27/9 email - "Time sensitive and urgent update".

That's very different to the most recent entry on the "Recent Updates" tabs on the two loans, which is just the usual bland platitude.

What do you mean by "the portal Lendy have set up for investors"?

I mean the link provided in the email you refer to, which takes you to a private website specifically for investors in the loans, and which is updated quite frequently (Last being the 17th of this month) . I think we are on the same page now and I am fully up to date with the situation.

AdrianC

Ah, yes. Forgot about that, and hadn't realised it was being updated.

Thrugelmir

Toe_Dipper wrote: »

At first, I made good returns. Then they forced everyone into autobid with no discretion on who to lend to. I queried this and was told most investors are not active and so we want everyone to play the same way. In other words, you are making more money than other people because you make the effort....

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I would suspect that too many loan proposals were underfunded. As majority of investors were picky as to the loans they subscribed too. Resulting in FC generating no income , and bottom line no profit.