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  1. #581
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    Quote Originally Posted by Bjauck View Post
    When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.
    Yes, right now not one of the NZ P2P lenders do pay Interest on Investors money awaiting loans.

    There is a reason for it that Squirrel explained to me once ( even though JB committed to it happening maybe 12 months ago now, on their thread on this site ) Something like it changes the 'Beast' from a P2P lender to something like that of a Bank status and that is not covered by their Financial Markets Authority Operating License today.
    Last edited by Saamee; 21-12-2016 at 01:17 PM.

  2. #582
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    Oct 2016
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    Quote Originally Posted by PennyPicker View Post
    I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...


    It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)


    The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.


    In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.


    Sounds good or silly?

    Good idea however as you've pointed out this would require significant setup costs. They would be offering a lending facility themselves if this were the case which usually comes with heavy legal and regulatory constraints. Also I imagine having existing loans as security could be difficult to arrange. Currently peer to peer lenders are acting as the "middle man" in lending. If they began to technically "own" some loans there may be further regulatory debates e.g. around the lending application fees they charge (as we have already seen with Harmoney) and it would generally open a whole new can of worms I imagine they would rather avoid.






    Quote Originally Posted by Bjauck View Post
    When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.

    I'd say this is extremely unlikely.

  3. #583
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    New Zealand
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    Quote Originally Posted by Investor View Post
    Good idea however as you've pointed out this would require significant setup costs. They would be offering a lending facility themselves if this were the case which usually comes with heavy legal and regulatory constraints.
    Hmm... what if you reframed it... LC aren't providing me with a loan, but they are investing in the loan themselves (this might be dodgy but ignore it for this thought experiment), and when I front with the cash they basically transfer ownership of the loan units to me. They're doing this latter part already.

  4. #584
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    Aug 2015
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    GUYS
    There is 5 listings currently on LC at present available. There have been times a month or so ago when loans were scarce, now is your chance to get in.
    Heaps of variety today

  5. #585
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    Nov 2016
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    I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?

  6. #586
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    Quote Originally Posted by DonB View Post
    I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?
    I'm leaving enough in for the potential of 3 New loans being available over till Tuesday evening.

    Remember next week they are closed on Friday 30th DEC

  7. #587
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    Quote Originally Posted by DonB View Post
    I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?
    I'm taking a break from P2P investing over Christmas and New Year. I'm sure they'll be heaps of loans next month when people realise they've spent too much for Christmas and have their credit cards to pay off

  8. #588
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    Quote Originally Posted by Kelvin View Post
    I'm taking a break from P2P investing over Christmas and New Year. I'm sure they'll be heaps of loans next month when people realise they've spent too much for Christmas and have their credit cards to pay off
    Ha ha ha - To True

    Also January is the prime month for Arrears to start building after the costs of Xmas \ New Year \ Holidays and back to School!!

  9. #589
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    Quote Originally Posted by Saamee View Post
    I'm leaving enough in for the potential of 3 New loans being available over till Tuesday evening.

    Remember next week they are closed on Friday 30th DEC
    OK no new loans at all over the 4 day break...

  10. #590
    Junior Member
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    Nov 2016
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    WA, Australia
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    Still the same B1 loan there since before Christmas.

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