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28-07-2016, 01:25 PM
#1371
Junior Member
Reading this report http://www.sharechat.co.nz/article/7...irst-year.html it is a little worrying that Harmoney has lost more than double in its second year of operation compared to its first year. I presume the increase in fees will go towards improving profit but now sure that is going to be enough. The peer to peer market is becoming a bit saturated so not sure if the is much growth there either. Wonder if the money owing but not paid due to conditions not being met refer to their IT systems
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28-07-2016, 04:42 PM
#1372
Member
A year ago Harmoney had 50 something staff which I thought was a lot but now, apparently they have 80.!!! How can this be profitable and what would they all be doing????? No wonder their losses are increasing.
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28-07-2016, 05:03 PM
#1373
Junior Member
I wonder how many of the 80 are employed to chase up accounts in arrears.
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28-07-2016, 05:25 PM
#1374
Junior Member
First time poster here, found this site while searching for some people's experiences with Harmoney. Reading through this thread it looks like most people have pursued a different strategy to me (targeting lower risk A-C loans) so I thought I would share my results so far. Harmoney has been my first experience with investing outside of my Kiwi Saver and Australian superannuation accounts. I'm also planning to purchase shares in a few ASX and NZX listed gold miners, and maybe a few other companies along the way.
So far I've deposited $5550 into my account and invested in mostly 36 month E grade loans, although I've noticed it's becoming much harder to find any loans at all to invest in over the last month or so. I reinvest any repayments so the total Loan investments (funded) is $8225 across 124 loans. Charged off principal is $47 so far, although I'm expecting that to increase over time. RAR is sitting around 23% which I have been exceptionally pleased with. I guess time will tell whether that is sustainable or if it will decline as more loans get charged off.
Attachment 8190
Looking forward to learn a whole lot more about investing from the community here
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28-07-2016, 07:58 PM
#1375
Originally Posted by Cerium
...
So far I've deposited $5550 into my account and invested in mostly 36 month E grade loans, although I've noticed it's becoming much harder to find any loans at all to invest in over the last month or so. I reinvest any repayments so the total Loan investments (funded) is $8225 across 124 loans. Charged off principal is $47 so far, although I'm expecting that to increase over time. RAR is sitting around 23% which I have been exceptionally pleased with. I guess time will tell whether that is sustainable or if it will decline as more loans get charged off. ...
That is a pretty good return for a good amount invested. Did you drip feed your capital into Harmoney over the past year?
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30-07-2016, 02:59 PM
#1376
With a rar that high and minimal write-offs, I am guessing you haven't been going over a year.
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01-08-2016, 10:48 AM
#1377
Member
What a shame. Harmoney to plead guilty to misleading consumers.
http://www.nzherald.co.nz/business/n...ectid=11685047
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01-08-2016, 11:00 AM
#1378
Junior Member
Originally Posted by emveha
Things must be getting desperate. Cant wait until I have withdrawn all my investments from them.
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01-08-2016, 11:02 AM
#1379
Originally Posted by JohnMac
Things must be getting desperate. Cant wait until I have withdrawn all my investments from them.
It sounds like it was an OTT aggressive marketing attempt.
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01-08-2016, 11:07 AM
#1380
Member
Purely as an interested observer, I wonder how P2P lending will perform during a recession?
Anyone have any thoughts about this?
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