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  1. #1
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    Default LendingCROWD NZ P2P

    LendingCROWD has launched

    https://www.interest.co.nz/business/...personal-loans

    https://lendingcrowd.co.nz/

    So far this looks quite promising

    Fractionalisation is in $50 amounts and all loans are secured

  2. #2
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    I plan to test my toe in this pond. Do think the 10% fee on actual interest paid could ultimately end up costing me less than Harmoneys method of continually clipping the ticket on these re-writes ... as I see it, I'm starting to suspect some of their so called cream of the crop will re-write many times over until maybe they run out of upper limit room, how will Harmoneys fee look then, rather high I'd say.
    I keep a note on the loans that do go into arrears and I'm surprised to see quite a number of them are re-writes, so suspect that their history of going into arrears is not affecting their ability to topup with a re-write.

  3. #3
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    Am 8K invested with Lending Crowd now and their systems are sitting very pretty with me.

    Very much like the info presented on the Dashboard ( especially borrower income & outgoing details ) plus the flow as a new loan goes thru the approval stages with Investors.

    Have also tested the Funds withdrawl ( ASB to ASB ) and it was in same day by about 6pm.

    Deposits are aslo Credited to the account same day ( ASB to ASB ) and if you phone them up they will manually Credit straight away.

    None of this Harmoney waiting to the next day for Funds to be available.

    I plan to remove 50% from Harmomeny and invest in Lending Crowd.

  4. #4
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    I notice there is only one loan available at the moment, has there been a selection in the last few days? I quite like the concept here and may also transfer from or stop investing in Harmoney. No real complaints with H but LC seem to be a little more security orientated.
    Soolaimon

  5. #5
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    Its been empty the last few days but there was up to 4 or 5 at a Tim before that

  6. #6
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    FYI. My service charge with Harmoney after rewrites is running at around 9.2% of gross interest compared with 10% for Lending Crowd, but at least with LC there is certainty.

  7. #7
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    Quote Originally Posted by nztyke View Post
    FYI. My service charge with Harmoney after rewrites is running at around 9.2% of gross interest compared with 10% for Lending Crowd, but at least with LC there is certainty.
    but harmoneys interest rates would be higher (since unsecured) which is better (assuming write offs aren't higher than forecast).

  8. #8
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    Quote Originally Posted by Harvey Specter View Post
    but harmoneys interest rates would be higher (since unsecured) which is better (assuming write offs aren't higher than forecast).
    Hi Harvey,

    Of course I agree with what you say about Harmoneys unsecured rates vs Lending Crowds ( or any other P2P lender in NZ ).

    What keeps me up at night is looking out to the future of 2016 and seeing what is happening now in China, that will happen very soon in the USA and then the rest of the world, and of course good old NZ, is the coming 'Credit Crunch'.

    I feel when Mum and Dad borrowers start to hurt and slow down or stop paying us, I would rather have more of my money earning a little less interest, but with a lot more security with the Lending Crowd.

    Only my humble thoughts though here!
    Last edited by Saamee; 10-01-2016 at 07:23 PM.

  9. #9
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    Started investing today.
    Soolaimon

  10. #10
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    Your info is interesting ... it's confirming something I've been suspecting would ultimately happen. However i ask what time frame has your calculation been formulated from?

  11. #11
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    Ophs that message was in reply to nztyke's message

  12. #12
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    Quote Originally Posted by Darchie View Post
    Ophs that message was in reply to nztyke's message
    Approx 1 year

  13. #13
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    I have been with LC for a week now and have found very little action. Of the 2 loans I invested in, one is filled and still not taken up by the borrower, the other has been 90% filled for several days and seems to have stagnated. This morning it was the only loan available.
    I was attracted to LC because of the perceived extra security but unless the activity speeds up I will stick with Harmoney where, although there are a few issues, my returns have been satisfactory after 15 months and there are always good choices of loans.
    Soolaimon

  14. #14
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    Quote Originally Posted by Soolaimon View Post
    I have been with LC for a week now and have found very little action. Of the 2 loans I invested in, one is filled and still not taken up by the borrower, the other has been 90% filled for several days and seems to have stagnated. This morning it was the only loan available.
    I was attracted to LC because of the perceived extra security but unless the activity speeds up I will stick with Harmoney where, although there are a few issues, my returns have been satisfactory after 15 months and there are always good choices of loans.
    I agree with you, I joined early Jan and have seen only about 6 loans, makes me wonder why they are numbered 200 plus. Waiting for the loans invested to fill is like watching grass grow or paint dry! Will stick to Harmoney I think, getting good returns calculated my personal Rar at about 15% after fees and Tax.

  15. #15
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    Dec 2015
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    I joined LC last week to add some diversification rather than having all of my lending 'eggs' in the Harmoney basket, but like the two previous posts, I see virtually no loans to invest in. Does that mean that LC is not getting the clients on board or are they taking the prime loans for themselves. Like Soolaimon and Permutation, I'll be sticking with Harmoney until I see some action at LC. I'm still waiting for my RAR as I've been in around 90 days so hopefully won't be far away.

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