Peer-to-peer lending sites: MSE guide discussion

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  • Ash_Pole
    Ash_Pole Posts: 310 Forumite
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    Not a great first day for the Funding Circle IPO:

    https://www.theguardian.com/business/2018/oct/03/peer-to-peer-lender-funding-circle-shares-plunge-floatation
  • Toe_Dipper
    Toe_Dipper Posts: 1 Newbie
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    So, after almost 5 years with FC, what have I learned?

    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....

    Then came the disastrous property experiment. I am still losing money as so-called A+ loans default. What’s more, they’d already taken away my ability to avoid property loans. No wonder. Who, knowing what they are doing, would have gone along with lending to these?

    I’m still well ahead of where I would have been with a bank savings account, but what a shame. It could have been so much better for everyone.

    Now that property lending is over, maybe we’ll get back to real p2p returns.
  • bxboards
    bxboards Posts: 1,711 Forumite
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    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
    AdrianC Posts: 42,189 Forumite
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    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
    keyboardworrier Posts: 192 Forumite
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    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
    masonic Posts: 23,275 Forumite
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    Mutton dressed as lamb no doubt. Good luck to all who still have money invested in Lendy.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    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
    keyboardworrier Posts: 192 Forumite
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    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
    AdrianC Posts: 42,189 Forumite
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    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
    keyboardworrier Posts: 192 Forumite
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    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.
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