LendingCROWD NZ P2P

[Soolaimon]

OK well it's time for my 36 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 = TWO


Loan Early Repayments = 56.4%


Platform RAR = 13.41%


# of Loan = TOTAL = 920 ACTIVE = 401


Arrears = CURRENTLY 5 OR 6 ( 1.89% )


Out of the 3 x Platforms I do \ have actively invested in, for me this is the easiest, most straight forward and user friendly to use.


LC have grown with me as I have grown with LC.


Everyone investing in P2P is here for the same reason - to increase our earnings.


For me my initial aim in P2P was to earn in interest per week, Quadruple what the NZ pension currently is. This milestone has now been reached.


Happy P2P trading

Hi Saamee, Like you, I have been in from the start but because of not being able to access loans quick enough these days my figures are a way down on yours.
Write offs= 2 (1 recovered)
Loan early repayments= 62.6%
Platform RAR = 11.99%
No. of Loans = 450 total...168 active
Arrears = 5 (1 of them 76 days)

I still manage to get the occasional loan, but usually A1 or A2 and for larger amounts. No hope at all to get the higher interest smaller loans, so as the unemployed funds get up over the 1K I transfer them to Harmoney where my returns are better. And I only take B and C grades there.
So well done Saamee.

[Saamee]

Hey Sammee, I don't expect you'll answer this as the trouble with answering is you either get yourself into trouble or everyone copies you and you miss out on the loans altogether but what I would be keen to know (that's not top secret info) is how much per loan you invest and how many days overdue do your loans have to be before you class them as arrears?

@joker >>

No I do not!

I used to use pennypickers - but as you know that all stopped 6 something months ago.

I am retired so instant access to a Laptop or Mobile is always present.

You should see me driving when an Email alert goes off > Pull over and login on Mobile....

Sometimes I get in to a loan and sometimes I miss out!

However have managed to stay Fully invested with all Funds @ LC

[Saamee]

@soolaimon

Good to hear from you and view you wrap too.

We all utilize different strategies for our P2P trading > None of them right or wrong > just right for each of us individually.

What is apparent is that we have to be ready to constantly change our preferred strategy often!

[kiwi783]

I'm surprised there have been no comments here about either the LC referral loans with increased flex fee; or the sudden increase in loan availability over last few days. Increased flow good for us?

[icyfire]

While reading the email from LC today I realized that LC themselves also invest in the loans published on the LC website. So the reason why it's almost impossible to invest in smaller loans it's probably because LC probably fill 90% of the loan before it's made available to retail investors.
So LC's parent company, Finance Direct, is looking to raise capital from LC investors at 6.75% per anum and then Finance Direct will use that money to invest in LC loans at 10-12%. It's a smart business model.

[kiwi783]

@icyfire - do you think the reason why a few loans are available these last few days is because LC parent has run out of investment funds (hence the email funds raise)? There was a similar moment on Harmoney a few months ago where retail was flooded with loans for a day or two. the cynic in me decided that they either had flicked the wrong switch directing towards retail first not wholesale first; or they were just reminding wholesale what they could miss out on probably in preparation for negotiations of wholesale terms. .......yes, call me a cynic.

[RMJH]

While reading the email from LC today I realized that LC themselves also invest in the loans published on the LC website. So the reason why it's almost impossible to invest in smaller loans it's probably because LC probably fill 90% of the loan before it's made available to retail investors.
So LC's parent company, Finance Direct, is looking to raise capital from LC investors at 6.75% per anum and then Finance Direct will use that money to invest in LC loans at 10-12%. It's a smart business model.

That would be one explanation why banning auto trading made no difference. Do we have any comfort that they don't cherry pick? I can't see the merit in lending to FD when you can lend directly to borrowers and take out a layer of risk.

[Saamee]

While reading the email from LC today I realized that LC themselves also invest in the loans published on the LC website. So the reason why it's almost impossible to invest in smaller loans it's probably because LC probably fill 90% of the loan before it's made available to retail investors.
So LC's parent company, Finance Direct, is looking to raise capital from LC investors at 6.75% per anum and then Finance Direct will use that money to invest in LC loans at 10-12%. It's a smart business model.

My understanding is that LC ONLY buy up the loans that "Us Investors' do not purchase within the time limit.

This is from speaking directly to Wayne.

[Saamee]

That would be one explanation why banning auto trading made no difference. Do we have any comfort that they don't cherry pick? I can't see the merit in lending to FD when you can lend directly to borrowers and take out a layer of risk.

I believe that banning auto trading made NO difference is for two main reasons:

> Growth in LC's base P2P number of new Lenders ( created more demand )

> P2P Lenders such as myself still are 'Online All Day" and so take portions in each desirable loan

[icyfire]

My understanding is that LC ONLY buy up the loans that "Us Investors' do not purchase within the time limit.

I work on the computer all day long and always log in as soon as I get the email notification from LC and sill miss out. It's pretty clear to me now that Finance Direct (FC) is given priority to invest in all LC loans and that explains it why it's so difficult to invest in most loans even though one lives on the computer. This is explained in FC's "Special Investment Opportunity" which I will not be investing in.
FC is a wholesale investor on the LC platform and it's the main reason why LC put an end to third-party auto trading.