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

Sea_Shell

Which is why I'm only investing "new money", that we otherwise don't need.

Interest, cashback, gifts, PB wins (if we ever get any!) etc.

It's in addition to our cash float and ISA/pension investments.

Sea_Shell

Their latest loan is a biggy!  #9150333

masonic

Sea_Shell said:

Two things stand out to me, which I've bolded.   Firstly, it seems to be about "marketing" so could they push their (others'*) product(s) more onto a "sophisticated" investor?    Secondly, the bits about 12 months.   This reads to me that my investments can be 10% of my net assets in any 12 month period.    So, I could invest 100% over 10 years!!!    Have I read this right?

For the appropriate context, you need to go back to the FCA handbook. Promotional communications refer to 'financial promotions', that is the information an investment provider communicates to potential investors, including a website allowing investors to review and invest in a P2P products. So they are not allowed to provide you with details of their products until you have made your declaration (which, as has been highlighted above, anyone can do with the click of a mouse). Of course there is also the 'appropriateness test' (multiple choice, can take several times and very easy to figure out).

Your interpretation of the 10% in prior/next 12 months is the most reasonable interpretation. However, as this may relate to P2P agreements, as these agreements mature and the cash is reinvested in new agreements, it would be reasonable to count that toward the limit. However, whomever at the FCA drafted this wording clearly didn't appreciate that a P2P portfolio would normally be a continuous investment and therefore not subject to this maturity - reinvestment cycle. In any case, it's irrelevant because nobody is checking and nobody feasibly could check.

Aceace

Sea_Shell said:

Their latest loan is a biggy!  #9150333

Is not the biggest, though it is the biggest tranche. 9519806 is the biggest at £2,392,911. I counted 5 loans on the platform for over £1m.

Sea_Shell

Aceace said:

Sea_Shell said:

Their latest loan is a biggy!  #9150333

Is not the biggest, though it is the biggest tranche. 9519806 is the biggest at £2,392,911. I counted 5 loans on the platform for over £1m.

@Aceace

How is the easiest way to see this?    Can you search for largest loan, in total?

I sorted the loans in "security value" order and can then see the 6 tranches that make up this loan.   

Should it pretty much follow that the largest security value will result in the largest loan, unless there is a much lower LTV in play.  (that one is at 33.8%)

Aceace

Sea_Shell said:

Aceace said:

Sea_Shell said:

Their latest loan is a biggy!  #9150333

Is not the biggest, though it is the biggest tranche. 9519806 is the biggest at £2,392,911. I counted 5 loans on the platform for over £1m.

@Aceace

How is the easiest way to see this?    Can you search for largest loan, in total?

I sorted the loans in "security value" order and can then see the 6 tranches that make up this loan.   

Should it pretty much follow that the largest security value will result in the largest loan, unless there is a much lower LTV in play.  (that one is at 33.8%)

I don't think there is an easy way. I sometimes download the loanbook and play with excel. You can create a new column and populate it with Security Value * Loan To Value. That obviously creates duplicates, but you can ignore all rows where the Loan ID has a trailing letter. 

I wish they would just implement a maximum loan size (they used to), or even better a maximum loan based on a percentage of funds on the platform which would allow it to grow as the platform does. It's much better now that there are a large number loans. When I first started looking at them the maximum loan was nearly 20% of funds on the platform!

Sea_Shell

Thanks for that Ace.  I hadn't though of downloading and playing with the data.

In other news, It looks like they now have an 8th lending partner on the books, going by the data dashboard.

Sea_Shell

@Aceace

Is there any way of telling what % is held in either Classic or Premium across the platform?

I'm 100% Premium, but I'm interested in what the overall split looks like.

Aceace

Sea_Shell said:

@Aceace

Is there any way of telling what % is held in either Classic or Premium across the platform?

I'm 100% Premium, but I'm interested in what the overall split looks like.

Sorry @Sea_Shell, I haven't seen any way to determine this. You could ask them. I can't think why they wouldn't be willing to reveal the answer. 

Sea_Shell

I see from their latest e-mail update that they are going to be having a 9th lending partner on board soon.

There is currently £2.63M of liquidity on the platform.


Also, I note from the dashboard that they now have 3553 lenders (with an average investment of £14,319).

Up from 3400 on 28th December 21, and 3300 on 6th December 21


They do seem to be going from strength to strength.   Long may it continue! 


From a personal point of view, I have decided to set up my 60 day withdrawal requests on an an 8 week rolling basis, for 1/8th of my holding at the time, which I set up and then cancel on a weekly basis.   Takes less than a minute to do, and if I forget, no harm done, other than maybe a couple of days interest.