Loanpad P2P - Reviews, experiences, info or updates, post them here. I'm having a dabble.

Sea_Shell

Just had an email update to say that they...

"anticipate that our interest rates will soon also need to rise."

Sea_Shell

Get a wriggle on Loanpad, chop chop!!!

Sea_Shell

Anyone else finding their website to be a bit glitchy??   What about you @Aceace ?

I keep getting the "processing" tab, and it won't load my pending transactions, and then I get another message saying "an error occurred. Service Unavailable".

If I clear that notice, I can then access other parts of the website, look at loans etc. but still can't access my pending transactions.

But then sometimes I can???   Very odd.

older_and_no_wiser

Sea_Shell said:

Anyone else finding their website to be a bit glitchy??   What about you @Aceace ?

I keep getting the "processing" tab, and it won't load my pending transactions, and then I get another message saying "an error occurred. Service Unavailable".

If I clear that notice, I can then access other parts of the website, look at loans etc. but still can't access my pending transactions.

But then sometimes I can???   Very odd.

Just looked now and it's fine on my account - in Chrome browser on mobile phone. I can navigate around the site and my account and can see the loans from the account and view all the documents attached to the loans.

Aceace

Sea_Shell said:

Anyone else finding their website to be a bit glitchy??   What about you @Aceace ?

I keep getting the "processing" tab, and it won't load my pending transactions, and then I get another message saying "an error occurred. Service Unavailable".

If I clear that notice, I can then access other parts of the website, look at loans etc. but still can't access my pending transactions.

But then sometimes I can???   Very odd.

Yes, I regularly get that problem. I think the website is creaking at the seams due to their rapid growth. We've been promised a completely new website soon with a new investment product option, reinvestment size down to 1p, etc. Hopefully it will fix the processing errors too. 

Sea_Shell

Loanpad now at 4000 lenders.  

With an average investment of £16,411.

where_are_we

Loanpad have announced they are increasing interest rates to investors and borrowers in view of the recent BOE rate increases. My ISA Premium rate are going up from 4% to 4.1% on 4/7/22 and then up to 4.2% on 1/8/22. I was concerned over the narrowing of the return compared to "safe" savings rates against a riskier investment and these increases address that issue somewhat. I will receive a one year introductory bonus in a few months time and consider my options then. This is by no means a recommendation, Loanpad constitute less than 2% of total wealth, but so far so good.

Sea_Shell

You beat me to it.

Bit disappointing that the classic account is unaltered at 3%.

Be interesting to keep an eye on the stats to try and see if people were just hanging on, waiting to see if they both increased.  

Obviously they don't show a split, and some may move "instant" cash to "notice" rather than withdraw it completely.

I'm seriously tempted to move my classic cash into a "FSCS" one yr fix at 2.5%+, as I don't actually need instant access.

Happy to stick with my funds in premium ATM.

masonic

I would presume that this marks a recent increase in the rates charged to borrowers, and that further increases can be supported as the loan book turns over.

Sea_Shell

Sea_Shell said:

Loanpad now at 4000 lenders.  

With an average investment of £16,411.

Well it looks like money is steadily coming in off the back of the interest rate rise news.   

So they've pitched it about right it would seem.

Now 4018 lenders, average £16,700.