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

cfw1994

Wonder how this compares with https://www.kuflink.com, it sounds similar. 
Kuflink has been going for some years now, seems to be a good business model: they have had zero losses to date.  They confirmed on a chat with me literally just now that "each investor has been repaid capital and interest in full."

We have had a small sum (under £3k) invested with that for just over 3 years.    Might be inclined to up that a little.
In some ways I like that we can chose the investments to go into - makes it feel like you are playing a part - although with the tiny sums involved, it is perhaps a total waste of time, as Thruglmir would no doubt agree!

No defaults, no problems at all.  If you want a referral (which gives you an extra 2% or more, & me a tenner or so, feel free to message me (likely not encourage to leave referral codes on MSE?)
 

Thrugelmir

cfw1994 said:

Wonder how this compares with https://www.kuflink.com, it sounds similar. 
Kuflink has been going for some years now, seems to be a good business model: they have had zero losses to date.  They confirmed on a chat with me literally just now that "each investor has been repaid capital and interest in full."

We have had a small sum (under £3k) invested with that for just over 3 years.    Might be inclined to up that a little.
In some ways I like that we can chose the investments to go into - makes it feel like you are playing a part - although with the tiny sums involved, it is perhaps a total waste of time, as Thruglmir would no doubt agree!

No defaults, no problems at all.  If you want a referral (which gives you an extra 2% or more, & me a tenner or so, feel free to message me (likely not encourage to leave referral codes on MSE?)
 

If you've performed your own due diligence , research etc and believe that you've identified an opportunity. Why not go big. If you simply copy what everything else is doing currently then then returns will ultimately be lower. 

Albermarle

In some ways I like that we can chose the investments to go into - makes it feel like you are playing a part - although with the tiny sums involved, it is perhaps a total waste of time, as Thruglmir would no doubt agree!

I think my dabbling/research/  scares with P2P gained me some knowledge /experience that I did not have before, so has not been a waste of time in my opinion . Although if I had actually lost money I might be thinking differently .

In other threads people are often looking for bond replacements and P2P does qualify , perhaps more now that the sector seems to have settled down from the heady days . Although treading carefully is the order of the day.

masonic

Albermarle said:

In other threads people are often looking for bond replacements and P2P does qualify , perhaps more now that the sector seems to have settled down from the heady days . Although treading carefully is the order of the day.

I'd view P2P as more comparable to corporate bonds than government bonds. Most of the threads about substitutes have been in relation to the latter. When you look at corporates, then the yield and risk is comparable to the lower return end of P2P. Moving from government bonds to P2P would be a fair jump in risk, albeit interest rate risk on long duration bonds is currently looking unusually high.

Albermarle

 Moving from government bonds to P2P would be a fair jump in risk,

Yes probably better to substitute Govt bonds with cash .

Also for most, the uncertainties about P2P probably means it could only ever play a minor role in a portfolio anyway. 

redpete

I've had money in Ratesetter, Lending Works, Assetz Capital and now Loanpad.  Ratesetter dropped out of the market but handled the withdrawal pretty well. LendingWorks the worst of the 4, I've taken most of the money out but small amounts left not earning interest due to the associated loans defaulting, I'm expecting to get it all back but it could take years.  Also moved out of AC in favour of LoanPad.

As AceAce has said, LoanPad very straightforward, simple and transparent.  Your money is spread across all their loans in proportion.  They aren't very big, approx £40M loaned out over approx 150 loans.  Around 96% of lender's money is allocated to loans with 4% 'waiting investment'.  All your money on the platform earns interest, even if not yet allocated to a loan.  The maximum allocated to a single loan is 2.28%, most are under 1%.

The 4% interest can be beaten elsewhere but it comes with more risk and more need to put work in, e.g. to assess individual loan proposals.

Aceace

redpete said:

I've had money in Ratesetter, Lending Works, Assetz Capital and now Loanpad.  Ratesetter dropped out of the market but handled the withdrawal pretty well. LendingWorks the worst of the 4, I've taken most of the money out but small amounts left not earning interest due to the associated loans defaulting, I'm expecting to get it all back but it could take years.  Also moved out of AC in favour of LoanPad.

As AceAce has said, LoanPad very straightforward, simple and transparent.  Your money is spread across all their loans in proportion.  They aren't very big, approx £40M loaned out over approx 150 loans.  Around 96% of lender's money is allocated to loans with 4% 'waiting investment'.  All your money on the platform earns interest, even if not yet allocated to a loan.  The maximum allocated to a single loan is 2.28%, most are under 1%.

The 4% interest can be beaten elsewhere but it comes with more risk and more need to put work in, e.g. to assess individual loan proposals.

Hi @redpete, I like your Loanpad summary, but I think you may have some minor misunderstandings about the stats.

The maximum of each lender's funds allocated to a single loan is currently 5.1%. I think you may be assuming that each row on the "My Loanbook" -> "Live Loans" page is a seperate loan, but this is not the case.  Unique loans are given a unique loan number, but supplementary tranches of the same loan use that same loan number with a trailing letter to distinguish it. So, the current largest loan (9519806) has its first tranche identified by that number, but also has 5 further tranches which are identified by 9519806B, 9519806C, 9519806D, 9519806E and 9519806F, which total £2,250,000.

The total funds invested on the platform,  including those not currently assigned to loans is currently £43,927,401. You can calculate this by multiplying the "Total Lenders" (currently 3220) by the "Average Lender" (currently £13,1642.05) on the 'Live Data Feed" page.  So currently £43,927,401. The current number of Live Loans on the platform is also displayed on this page (currently 117).

There are roughly 94% of lender's funds allocated to loans (£41,255,563.23 / £43,927,401), so 6% unallocated, but, as you say, still earning interest. 

Sorry for being a pedant 

Sea_Shell

Just to add, for others looking at this as a potential investment...

Money (£250) transferred at about 9am
E-mail received confirming receipt of money 10.30am
I logged on and asked for it to be allocated to the Premium Account.
Money allocated to loans in 2pm run.
Day 2, Grand sum of 2p daily interest added to my cash account!!


So money on the way in, is very slick!    Lets hope it's as slick on the way out!!! 

Aceace

Sea_Shell said:

Just to add, for others looking at this as a potential investment...

Money (£250) transferred at about 9am
E-mail received confirming receipt of money 10.30am
I logged on and asked for it to be allocated to the Premium Account.
Money allocated to loans in 2pm run.
Day 2, Grand sum of 2p daily interest added to my cash account!!


So money on the way in, is very slick!    Lets hope it's as slick on the way out!!! 

Yes, getting cash out has been equally as slick. I've tested it many times. 

Transfers from the premium to cash account happen at around midday on the specified date following the daily redistribution run. An email is sent when it happens. 
My last withdrawal from the cash account was made at 4pm. The cash was in my bank account the same day (I didn't record the exact time).

It probably won't interest you while you have your small test investment, but it's possible to effectively half the average 60 day notice time on the Premium account by setting up a set of rolling transfers and cancelling them if you don't need the cash. I do this. Each Sunday I set up a transfer for a 10th of my balance for 9 weeks and 1 day ahead, so the transfer will happen on a Monday if not cancelled. Before doing this I cancel the transfer that is due to happen the next day if I don't need the cash that week. Its a bit of a faf, but I have a weekly alarm I my phone to remind me to do it, and only takes a minute to do when your used to it. I know of others that do this on a daily basis with a 60th of their balance, but that's too much hassle for me,.

Malkytheheed

I've used Kufflink for a few years with absolutely no problems at all. That said, I still think I'm going to chuck it next year. The reason being the returns just aren't worth it for me. Most loans get 6-7% returns. Factor in there is quite a high element of risk, your money is locked away for at least a year, and inflation running at say 4% means your actual returns are 2-3%. Just not worth it fdor me anymore. Would rather put my capital elsewhere.