Harmoney

[johna]

There are two there right now, both fall outside my usual 10% repayment to income, but what the hell, i need to get some money on!

[Vagabond47]

https://www.interest.co.nz/business/...nline-platform

Acording to that article harmoney itself hasn't started investing yet. So what is/was up with the marketplace?

[slingy]

There is another there at the moment -

LAI*00131775 -

doesnt meet my requirements though - judging by the fact it only has 13 days left I would say it has been there since some time last night

It showed up in my lending portal at 2018-06-14 20:36:55

[RMJH]

https://www.interest.co.nz/business/...nline-platform

Acording to that article harmoney itself hasn't started investing yet. So what is/was up with the marketplace?

Maybe it's just the lousy weather and rate hikes?

[leesal]

Maybe it's just the lousy weather and rate hikes?

The market is awash with credit - esp unsecured.

The funding Mix graph says it all. I believe HM has changed its business model emphasis.

[BJ1]

The funding Mix graph says it all. I believe HM has changed its business model emphasis.

It certainly seems so, and as a consequence retail investors seem to be being fed false information on the number of loans funded - and it can't be that previously all we have ever seen is the number funded by retail, because if that is the case we wouldn't have seen those large blocks of loans lent to 80% suddenly all disappearing at once.

[RMJH]

The market is awash with credit - esp unsecured.

The funding Mix graph says it all. I believe HM has changed its business model emphasis.

Agree it does seem increasingly likely. Not sure why you would bother to drip so few loans to retail though. Definitely an information void which needs filling.

[icyfire]

It appears that P2P lending on HM is pretty much dead. Have withdrawn all my funds today. It's pretty clear that HM's business model has now changed and their focus is almost completely on wholesale lending.

[myles]

The market is awash with credit - esp unsecured.

I'm not sure that it is... The graph below suggests something quite different:

Retail Spending.jpg
Source: https://www.stats.govt.nz/informatio...tions-may-2018

It has been shown that P2P lending follows credit card spending etc... So perhaps it is just a significant lull in loans. No doubt Harmoney have obligations to their wholesale 'partners', so the low availability of loans for retail investors may just be due to a lack of 'excess' loans. [All speculation...]

[Vagabond47]

Just because there is plenty of credit available doesn't mean people are going to take it up. Between tax increases (fuel excise, akl regional fuel tax etc) and threats of mortgage rate increases in the media I can imagine many households are tightening the belt a bit. And those that believe Kiwibuild will actually drop house prices (unlikely) will be saving like mad I would suspect.