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

Sea_Shell

Email received noting that they are increasing their max LTV to 56%.

Not on everything, automatically, so probably just new loans/tranches.  With an eye to keeping a clean sheet, loss wise.

Why 56%...my guess is that they currently have an average LTV of 44%, so maybe they want the average to be nearer 50%.

I'm still happy using them, but we will be emptying our account shortly to part pay a large purchase!!   Been moving my money gradually* into the Easy access account in preparation.



* By letting my rolling notices go through.  

Aceace

56% is because the lending partners lend up to 75% LTV and LP want to be able to lend 75% of that (75% of 75% = 56.25%). See response from Loanpad on the P2PIF here: https://p2pindependentforum.com/post/506838/thread.

It won't necessarily be restricted to new loans. Topups to existing loans could go up to 56%. 

The current average LTV across the loanbook is 43.5%. I wouldn't expect this change to push the average over 50%.

Sea_Shell

Loanpad have finally got around to launching their new website.

Question - I used to be able to request a statement for specific dates e.g. the month just gone, which would show interest earned in that month.

I'm either missing something, or you can only get tax year statements?   

How do I just get a statement for April 25, as a month on it's own?

Sorry if the answer should be staring me in the face, but I can't see for looking.

Thanks

Aceace

Sea_Shell said:

Loanpad have finally got around to launching their new website.

Question - I used to be able to request a statement for specific dates e.g. the month just gone, which would show interest earned in that month.

I'm either missing something, or you can only get tax year statements?   

How do I just get a statement for April 25, as a month on it's own?

Sorry if the answer should be staring me in the face, but I can't see for looking.

Thanks

You can set the start and end dates for the Tax Statement and generate a report. Does this suffice? I can't test it at the moment as I'm on my mobile, which won't open the generated report. 

Sea_Shell

Aceace said:

Sea_Shell said:

Loanpad have finally got around to launching their new website.

Question - I used to be able to request a statement for specific dates e.g. the month just gone, which would show interest earned in that month.

I'm either missing something, or you can only get tax year statements?   

How do I just get a statement for April 25, as a month on it's own?

Sorry if the answer should be staring me in the face, but I can't see for looking.

Thanks

You can set the start and end dates for the Tax Statement and generate a report. Does this suffice? I can't test it at the moment as I'm on my mobile, which won't open the generated report. 

I tried that, but I couldn't seem to get the start date of 1st April 2025.

Will try again next time I log in.

Aceace

Sea_Shell said:

Aceace said:

Sea_Shell said:

Loanpad have finally got around to launching their new website.

Question - I used to be able to request a statement for specific dates e.g. the month just gone, which would show interest earned in that month.

I'm either missing something, or you can only get tax year statements?   

How do I just get a statement for April 25, as a month on it's own?

Sorry if the answer should be staring me in the face, but I can't see for looking.

Thanks

You can set the start and end dates for the Tax Statement and generate a report. Does this suffice? I can't test it at the moment as I'm on my mobile, which won't open the generated report. 

I tried that, but I couldn't seem to get the start date of 1st April 2025.

Will try again next time I log in.

Ah, you're correct. I hadn't spotted that. I assume that it is an oversight. Drop Loanpad CS a line and I'm sure they will fix it. They've been very quick to respond to my requests. 

Sea_Shell

I asked on chat and apparently you have to select the END date first, then it lets you choose the start date!!!

That works, but seems a bit back to front, I've suggested they raise it with the development team 😉

Maybe you could update the P2P forum (I've never got round to joining 😉)

Sea_Shell

Just a few thoughts I've been having about Loanpad recently.  

How do you all (investors) feel about the seeming prevalence of HMO conversions within the loan portfolio?  

I've just quickly looked at the most recent 4 loans released, and they are ALL for HMO conversions

94609629
96503729
99753022
93760899

1 x 4 bed house, 2 x 3 bed houses, and one 2 bed bungalow to be converted.   All into 6 unit HMOs

Is it my imagination, or has their portfolio shifted from financing converting other types (not homes) of property into flats, to this new model?

I wonder what the numbers are, across the whole portfolio?    I could spend hours going into each one, and tallying them up, as the information is publicly available to investors, if you look... would they know off hand, if asked?

I want to support the UK housing industry, and like the % returns, but at the same time, with my NIMBY hat on, I wouldn't want my neighbours' 4 bed houses converted into 6 unit HMOs.  

What do you all think?

Sea_Shell

Any thoughts on the above from those of you who have posted on this thread previously and are either in Loanpad or other P2P platforms (what are other platforms doing with regards HMOs?)

@Aceace
@Albermarle
@cfw1994
@redpete
@where_are_we
@arsenepenguin
@older_and_no_wiser
@longleggedhair

Rudyson

You might be better off asking on the p2p forum  https://p2pindependentforum.com/