LendingCROWD NZ P2P

[Saamee]

Using a different strategy here @ LC than over @ HM.... I perceive that LC loans are higher quality ( yes, have to wait & See! ) since every loan is secured and some with Death insurance too, also as there are fewer quality loans currently, I put $500 into each loan I chose to invest in.

[Saamee]

I'd be interested to know if anybody else was investing last week here @ LC and had the loans cancelled by the Borrower at the last minute? I had Three ( 3 ) loans I had invested in, had been 100% subscribed and then unfortunately the Borrower pulled out in the final stages of loan issuance. After speaking with LC seems many were for cars and people got outbid @ Auctions etc. I'm putting it down, just to real life

[Ellipsis]

I've had four investments reversed in the last two weeks, they were all 100% subscribed too. It is slightly frustrating given the small number of loans available to invest in.

LC reckons it's just bad luck since they've had very few reversals so far.

[Saamee]

I've had four investments reversed in the last two weeks, they were all 100% subscribed too. It is slightly frustrating given the small number of loans available to invest in.

LC reckons it's just bad luck since they've had very few reversals so far.

Hi Ellipsis,

Yes that's about right, I've been investing within them since their launch in mid DEC 15. It is more recently the loans have not been fulfilled. It's good to see the # of loans increasing now week by week, plus LC are going for Quality of Quantity ( HM? )

7 loans in total Reversed....

[Darchie]

Nine for me so far! Frustrating for sure, as there's still a limited number of loans being listed. I too was told .... it's just bad luck since they've had very few reversals so far.
But hopefully into March we'll start to see more loans listed, and reversals won't seem so high.

[Soolaimon]

I am still trialing LC and have only 13 loans so far since early jan. 2 of these have been reversed just this last week. Because of the lack of loans available during this time there has been a considerable period where my funds have not been returning interest. More than 3 weeks. Takes what cream there is off the returns when comparing to bank term deposits or Harmoney

[Saamee]

Hi Soolaimon ,

So you are keeping funds 'ready to invest' at LC? With LC I just send money over when there is a loan of interest to me there available. AS it is still 'low volume' the loans always hang around long enough to send fund, same day credit and purchase ( and hopefully not go on to be reversed! )

[Soolaimon]

Hi Soolaimon ,

So you are keeping funds 'ready to invest' at LC? With LC I just send money over when there is a loan of interest to me there available. AS it is still 'low volume' the loans always hang around long enough to send fund, same day credit and purchase ( and hopefully not go on to be reversed! )

Good idea Saamee but a bit more work involved.

[humvee]

Use of BCC would be recomended when sending out this email rather then having everyone's address in the To field



"On the 7^th March our system processed customers payments a day before the interest was due.

The result is that your investor account will show a full principal payment rather than splits of interest, principal, Lending Crowd Flex and RWT.

We have rectified this issue for future payments.

Please call if you have any further queries.

Kind regards,"

[Saamee]

Yes exactly Humvee. At least they apologised with a personal phone call to let you know....