LendingCROWD NZ P2P

[Darchie]

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?

[Darchie]

Ophs that message was in reply to nztyke's message

[nztyke]

Ophs that message was in reply to nztyke's message

Approx 1 year

[Harvey Specter]

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).

[Saamee]

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!

[Soolaimon]

Started investing today.

[mlt322]

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.

[Saamee]

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.

LC had about 8 x loans before Xmas Day. Then the pot went dry.

My guess is that they have only been going just about 1 month and still getting sorted. Many Kiwi's are stiii on holidays and not back at work ( and into their normal routine yet ).

Yes, Harmoney have a lot more unsecured loans available right now, in fairnes sHarmoney have been going approx 18 months now.

I am hoping LC picks up and Jan fades and we all get back to normal Kiwi life in Feb 16.

[Soolaimon]

Yes, there are more loans appearing now which is good. The first two that I invested in took one week before they started as a loan ie. attracting interest.

[PennyPicker]

Re Provance loan notifications; Chorus guy came round this morning and unknown to us crashed the router, meaning no Provance alerts between 12pm and 2:10, so we missed one small loan. Sorry about this, fixed now.