Lending Crowds NEW Interest Rates active from Sunday 01 st September
https://www.interest.co.nz/personal-...-lender-reduce
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Lending Crowds NEW Interest Rates active from Sunday 01 st September
https://www.interest.co.nz/personal-...-lender-reduce
Too good to be true?
I've just had another in collection loan closed, principal fully recovered. This is my 4th collection fully recovered with none yet not being so, off a relatively small sum invested over the last three or so years.
Other than not being able to get the loans as they are listed, and the lack of info if you don't screen grab, LendingCrowd has been fantastic. But is it too good to be true? Has anyone had a loss of principal?
I’ve had 7 write offs total, and just 3 got fully recovered
Yes write offs do occur...Attachment 10799
I've just received an email from Mara Labuschagne at lending crowd with a PDF attached titled Information Update Request. Email looks suspicious and I'm nervous of opening. Anybody else receiving similar? I'll be contacting the LC support to confirm before opening.
It's amazing the number of 25% interest flex loans v 10% coming on the Lending Crowd site now. The 10% loans have really dropped away. I am beginning to wonder if a Lending Crowd associated finance company is forwarding some of its loans to the Lending Crowd site. This would mean that the Lending Crowd group is getting the loan approval fee ($450ish??) and then 25% of the interest earned without carrying any risk whatsoever. Easy money - particularly if you're struggling to get depositors. If this thread is monitored by Lending Crowd I would be grateful for comment on this.
OK well it's time for my 48 Month Investment Update on Lending Crowd....
Been in with LC since their very 1st loan which was issued on 21st December 2015.
Write Off Losses = TWELVE
Loans Repaid Early = 63.3%
Platform RAR = 12.84%
# of Loans Taken Out = 1284
# of Axtive Loans = 471
Current Arrears = Zero
Out of the 3 x P2P Platforms I have actively invested in, for me this is the easiest, most straight forward and user friendly to use.
Attachment 10900
Happy P2P trading :)
Well done Saamee. I am a very fresh newbie on LC in comparison (started in September this year). To achieve that RAR, am I right in assuming you only invest in B1 and B2 loans? Do you find that sometimes you go through entire weeks with no loans to invest in?
I would love a few more B2s, but many of them are only for under $5,000 and last only a few seconds on the site before they are snapped up. Having said that, there was a longer lasting one yesterday for over $100,000 !
Hi Saamee, I too have been in for over 3 years at least but my returns are not so good 11.62%. However I am totaly satisfied with that and the reason is since Penny Pickers auto thing I have spent many hours trying to invest and have only been able to mostly get the larger amount loans. The smaller B2's are obviously the ones to boost returns but then I guess they contribute more to the defaults of which I have only had 4 with a loss of $200. So all in all happy and am still transferring all withdrawals from Harmony to LC.
@toukshare
>> Yes I do only invest in B1's and B2's....
>> Since something like 70% of loans these days seem to be referred loans with a 25% Flex rate - RAR's are moving slowly lower as that kicks in to the RAR returns after 100 days
>> Every week I get into LC Loans - but it does vary - It is not so easy for people with a strict work routine, where as I am retired and available all day :)
@soolaimon
>> Good to hear from you again and know you are back on baord ( like you I have very little funds left in HM these days )
>> I have not seen or gone looking for stats about Loan Class and defaults but it would be good to see it confirmed if more B2's default!
I agree that LC has been best of p2p sites. I've only seen one better imo but its not NZ based, and ironically in a region that has surplus of loans to investor liquidity. My frustration with LC is lack of loans, and the bunfight to grab any that do. The rush to hit Buy without being able to take a few seconds to viewing details is not a sensible investment approach, and continuing suspicion that automated processes are still running by others to grab the loans as they get listed. A xmas wish for some sort of auto-invest even if business sense dictated preference to bigger investors.
@soolaimon ~ Just wanted to ask you how your LC Investments have travelled over the last 10 Days or so??
I have found LC has got SO busy..... I'm retired and at home but still have Failed to get into a single loan in the last 10 Days...
I am now so freustrated that I am Drawing Funds out of LC and into Harmoney!!
I do not like Harmoney and their customer dis-service at all...... but Returns are better and funnily enough, losses smaller :)