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17-06-2021, 05:32 PM
#1161
Junior Member
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17-06-2021, 05:34 PM
#1162
Junior Member
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20-06-2021, 05:50 PM
#1163
Member
It may be they get challenged later in the process before any money is advanced. But thanks, good spots. These are certainly challenging times to be an investor!
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30-06-2021, 11:55 AM
#1164
WOW!! Was really surprised that 77 year olds are taking out 3 Year Debt Consolidation loans with NO Death cover - No Thanks!!
WOW.jpg
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30-06-2021, 03:43 PM
#1165
Member
Originally Posted by Saamee
WOW!! Was really surprised that 77 year olds are taking out 3 Year Debt Consolidation loans with NO Death cover - No Thanks!!
WOW.jpg
No security + no assets = no repayment is borrower passes
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26-07-2021, 01:00 PM
#1166
Originally Posted by Saamee
WOW!! Was really surprised that 77 year olds are taking out 3 Year Debt Consolidation loans with NO Death cover - No Thanks!!
WOW.jpg
I think death cover stops at age 65 - to high a risk for the insurance company.
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26-07-2021, 01:05 PM
#1167
I keep coming back to consider TLC for investment but see their financial performance has deteriorated even further with Finance Direct making a loss of $100K for the year and Lending Crowd only funding $3M for the year. As per previous posters have mentioned it doesn't appear the loans are being fact checked with real cost of living allowances etc and that is a concern. This with them not making money will keep me on the sidelines a bit longer if not permanently!
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27-07-2021, 08:49 AM
#1168
Member
I stopped investing with LC over a year ago - my remaining loans are performing well (much better than Harmony) but the big problems for me were...
1. Too hard to get invested (15 months ago)
2. Too many 25% interest flex loans
I would be even less likely to invest now because of the number of unsecured loans and what I consider too low interest rates for the risk. Currently investing in shared first mortgages (6 - 12 month terms) at around 7%. Lesser return, lesser work and hopefully lesser risk too.
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11-10-2021, 12:25 PM
#1169
A look from the other side. I am thinking about buying a used car. As I don't want to cash on other investments, I was thinking I'd get a loan. LendingCrowd advertising rates from 5%. Credit score 890, never missed payment in my life and best offer I could get is 11% unsecured, 9% secured.
I will not secure a loan for 1-2 years against a house and never will I ever pay somebody 11% interest rate. The interest rates are ridiculous. So now I'll just wait for a year and buy a car in cash. I believe there's a lot of reliable people with enough money who will just decide not to get a loan under these conditions.
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09-11-2021, 03:24 PM
#1170
Member
Earlier in the year I invested with TLC, Squirrel and Zagga to get some worthwhile returns compared to money sitting with the bank. TLC started out OK, with several opportunities listed almost everyday and the returns have been good with a number of secured A and B 1/2 grade secured loans. However I agree with joker's post above.
Most opportunities are now coming through as B or C 2/3 grade unsecured personal at 25% flex, and loan value has also been declining so they get snapped up within a few hours of being listed or even sooner.
Before turning on email notifications at the beginning of the month I hadn't seen any new listings since about July even though I was checking in weekly or more often when reinvestment came due. In comparison, Zagga and Squirrel have proven to be much more liquid with no 'down time' between investments, while also providing a decent return with the additional comfort of secured loans. I'll be pulling my funds from TLC as investments fall due.
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