LendingCROWD NZ P2P

[Whippeedo]

Its very disappointing that auto lend has been banned....talk about a witch hunt

And it hasn't made loans anymore accessible than they were before.

Why don't they just limit investors to say $50-$100 per loan so we can all have a chance to get in.

As it stands someone can snatch up a whole loan in one go buying manually. That's hardly apportioning fairly!!

[icyfire]

@Whippeedo I don't see LC allowing third-party auto-lending software back in or LC themselves building one until they have loans waiting for days to be filled

[darrenc]

@Whippeedo I got to the most recent $12k B1 loan (LN000-066-278) very early (only a couple of hundred dollars had been invested). I bought $150 - finally got all my money invested... - then rapidly refreshed to see what kinds of investments were being made. The majority seemed to be around $200-250, going down fairly linearly, but it dropped $4000, $2000 and at least 1x $1000. Obviously I don't know if it's the same user making these larger investments.

You wouldn't be able to buy it all in one go unless you were first otherwise the platform would return an error. If $4k is left in the loan, by the time you've activated the sale, chances are that $1500 has already been accounted for.

LC doesn't have to apportion this fairly. It could be considered an active investment because you have to be there ready. There aren't many passive investments where you'll return 14% pa. Well, apart from Auckland property if you bought in 2010.

Stopping bots doesn't seem to have slowed down the investment levels. B1 and B2 loans still last less than 2 minutes. This means either that there are plenty of people in front of the computer, or the strategies for defeating bots aren't working. LC wouldn't be worried either way: their purpose is to get the loans filled.

[jallison]

A $4000 buy, that is one third of the total loan, I think LC to be fair does needs to apportion the loans

[Saamee]

It's Close to 2.5 years since LC started up and I started actively investing with them.

So a short wrap up of those 1st 2.5 Years follows.

N.A.R = 13.06%

Total Loans Invested in = 817

Total Open Loans = 438

Total Closed Loans = 379

That is 46.4% closed after 2.5 years.

Capital Losses to date = NONE

Write Offs to date = TWO ( NO Losses - 100% Capital & Interest Returned - From SECURITY )

Plus One Loan Default currently going through the collection process ( No House as Security! )

LC just works, It's easy to manage.

Long may this symbiotic relationship last!!

LOANS @ LC.PNG

[jallison]

Rubbish to the average punter who can't access the website full-time Lending Crowd is absolutely useless

[Saamee]

Rubbish to the average punter who can't access the website full-time Lending Crowd is absolutely useless

I'm just an average punter too ;-) Just like you!

What is the definition of Average Punter?

Easy to take a walk and invest somewhere else......

[humvee]

New Reduced interest rates - announced today.

Just saw the 1st B1 Loan go through at the new rate,

If we see a big increase in volume of loans while retaining the low write off rates , I don't mind this so much - but time will tall

New LC interest rates.JPG

Personal loans
	A1	A2	B1	B2
3 Years - Old	7.90%	10.96%	13.97%	18.74%
3 Years	6.89%	9.98%	13.28%	17.99%
5 Years -Old	8.42%	11.87%	14.79%	19.10%
5 Years	8.34%	10.99%	14.54%	18.65%
Business loans
	A1	A2	B1	B2
3 Years - Old	8.95%	11.86%	14.74%	19.36%
3 Years	7.98%	10.98%	14.25%	18.10%
5 Years -Old	???	12.84%	15.39%	19.75%
5 Years	9.49%	11.97%	14.98%	18.96%

[humvee]

B1 loan up now That's the longest ive seen o loan remain in a long time.... 30+ mins and counting. Property as security too.

[Darchie]

Maybe many of the Mums & Dads were tucked up in bed by that late hour ... the aspects I noted with that Loan was the credit Rating was only Good .. it's been surprising the increased amount of Just Good credit ratings coming through .. but also it was a sole borrower & it was at the old higher interest rate as well.