Greenwood2
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Post by Greenwood2 on Jan 31, 2019 20:49:00 GMT
Rates say 4% and 5% is the introductory 20% bonus gone? It wasn't much of an incentive, but it is a definite dis-incentive if you don't get it as an early adopter. As of tonight there are still only 47 lenders on the platform, but the ‘average lender’ has loaned £24,497 while the ‘live loan value’ is £1,100,000 – which implies they have filled their loan book already. If they have pulled the special offer, I *speculate* that this could be the reason. £2M of ‘upcoming loans’ are promised, I should add. All the above information is available to investors as a ‘Live Data Feed’. I signed up but only see the basic rates, where do I see the number of lenders, and the enhanced rate ? Where do I see the 'Live Data Feed'. Not impressed so far.
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Post by Loanpad on Jan 31, 2019 21:03:13 GMT
Loanpad , thank you for the overview of your new platform. I have a couple of questions; What is the current level of diversification? IE. How many live loans are there at this point? I'm not well versed in property loan structures; What's in it for the Lending Partners? Why would they only want to take on the riskier part of the loan? Is it that the lower risk/lower return part which is offered to us is not lucrative enough for them? Thanks. Hi there great question, thanks for raising it There are many reasons a lending partner may want to work with Loanpad. This is essentially many of the same reasons a lending business would want to seek leverage to expand – however with our structure there is no leverage as loans are simply shared. We will try to illustrate this with an example: A Typical Loan Loan amount £1m Security Value £1.5m Term 12 months Rate 10% per annum Lender ROCE 10%
Capital £1m Loanpad StructureSenior Tranche A £750,000 @ 7% Junior Tranche B £250,000 @ 19% Lender ROCE 19%
Capital £250,000 So by working with Loanpad, lending partners have the ability to: 1. Increase their return on capital. 2. Increase their funding capacity. 3. Reduce rates to attract top borrowers. For Loanpad investors, it is a lower-risk proposition as the risk of loss given default is highly mitigated/sheltered by the Junior Tranche. So it is because of the additional protection and stability that the rates are lower. To answer your other question, there are currently 5 live loans on the platform and about 10 in the pipeline. We also have several new lending partners ready to work with our structure as soon as there is sufficient capacity to do so. It is a bit premature currently as we only just launched.
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Post by Loanpad on Jan 31, 2019 21:04:45 GMT
Rates say 4% and 5% is the introductory 20% bonus gone? It wasn't much of an incentive, but it is a definite dis-incentive if you don't get it as an early adopter. Thanks for the feedback which has been taken on board. The early bird offer is a very short term incentive but is still available for new sign ups. We expect to have some other sign up incentives in due course as well as some exciting loyalty rewards for existing customers. More details will be released as soon as they are available.
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Post by Loanpad on Jan 31, 2019 21:05:48 GMT
As of tonight there are still only 47 lenders on the platform, but the ‘average lender’ has loaned £24,497 while the ‘live loan value’ is £1,100,000 – which implies they have filled their loan book already. If they have pulled the special offer, I *speculate* that this could be the reason. £2M of ‘upcoming loans’ are promised, I should add. All the above information is available to investors as a ‘Live Data Feed’. I signed up but only see the basic rates, where do I see the number of lenders, and the enhanced rate ? Where do I see the 'Live Data Feed'. Not impressed so far. Thanks for registering 😊 It can take a short while for your account to be updated with the early-bird rates. You can find the live data feed in My Loanbook>Live Data. Hope you don’t stay unimpressed – please do reach out to us if you have any issues.
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mjc
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Post by mjc on Jan 31, 2019 22:08:13 GMT
Rates say 4% and 5% is the introductory 20% bonus gone? It wasn't much of an incentive, but it is a definite dis-incentive if you don't get it as an early adopter. Thanks for the feedback which has been taken on board. The early bird offer is a very short term incentive but is still available for new sign ups. We expect to have some other sign up incentives in due course as well as some exciting loyalty rewards for existing customers. More details will be released as soon as they are available. I’m guessing it’s only effectively non IFISA (or new IFISA funds) that can get the enhanced rate? As takes up to 4 weeks to get a transfer effected. Thus signing up now wouldn’t do? Perhaps I’ll wait then for any future for offer.
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IFISAcava
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Post by IFISAcava on Jan 31, 2019 22:34:05 GMT
Thanks for the feedback which has been taken on board. The early bird offer is a very short term incentive but is still available for new sign ups. We expect to have some other sign up incentives in due course as well as some exciting loyalty rewards for existing customers. More details will be released as soon as they are available. I’m guessing it’s only effectively non IFISA (or new IFISA funds) that can get the enhanced rate? As takes up to 4 weeks to get a transfer effected. Thus signing up now wouldn’t do? Perhaps I’ll wait then for any future for offer. Quite; by the time the money's there, the enhanced rate will be almost over.
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Greenwood2
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Post by Greenwood2 on Feb 1, 2019 9:39:27 GMT
I suppose it depends on min deposit, transfer speeds and a few other issues how it really compares, I couldn't be bothered to register just to find that out. Not much detail on the front page. having said that I did not watch the video. I am assuming somebody less lazy will tell me. Min deposit £10 (probably £1 but min invest £10), speed of deposit fast, cash drag, max 24hrs as invested midday once allocated, diversification - hold % of each loan, so bigger the loan higher % of portfolio same as AC. How long did a deposit take?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 1, 2019 9:54:09 GMT
Min deposit £10 (probably £1 but min invest £10), speed of deposit fast, cash drag, max 24hrs as invested midday once allocated, diversification - hold % of each loan, so bigger the loan higher % of portfolio same as AC. How longer did a deposit take? Under an hour. (Made around 3pm, available 3.40pm) no idea whether this is automated or manual & will slow as volume increases/outside working hours.
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Post by Badly Drawn Stickman on Feb 1, 2019 12:35:17 GMT
How longer did a deposit take? Under an hour. (Made around 3pm, available 3.40pm) no idea whether this is automated or manual & will slow as volume increases/outside working hours. Less than 20 minutes earlier this morning, which was handy as it enabled me to get it invested at 'the shuffle'. Seems to be displaying as 4.8% so presumably the bonus is now active. Seems a reasonably well thought out platform, few things I am interested to see how progress. Haven't had time yet to see how much information is available about the underlying assets, presumably there is some? Will have to test the withdrawal speed at some point.
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Ukmikk
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Loanpad
Feb 1, 2019 14:04:38 GMT
via mobile
Post by Ukmikk on Feb 1, 2019 14:04:38 GMT
Loanpad , thank you for the overview of your new platform. I have a couple of questions; What is the current level of diversification? IE. How many live loans are there at this point? I'm not well versed in property loan structures; What's in it for the Lending Partners? Why would they only want to take on the riskier part of the loan? Is it that the lower risk/lower return part which is offered to us is not lucrative enough for them? Thanks. Hi there great question, thanks for raising it There are many reasons a lending partner may want to work with Loanpad. This is essentially many of the same reasons a lending business would want to seek leverage to expand – however with our structure there is no leverage as loans are simply shared. We will try to illustrate this with an example: A Typical Loan Loan amount £1m Security Value £1.5m Term 12 months Rate 10% per annum Lender ROCE 10%
Capital £1m Loanpad StructureSenior Tranche A £750,000 @ 7% Junior Tranche B £250,000 @ 19% Lender ROCE 19%
Capital £250,000 So by working with Loanpad, lending partners have the ability to: 1. Increase their return on capital. 2. Increase their funding capacity. 3. Reduce rates to attract top borrowers. For Loanpad investors, it is a lower-risk proposition as the risk of loss given default is highly mitigated/sheltered by the Junior Tranche. So it is because of the additional protection and stability that the rates are lower. To answer your other question, there are currently 5 live loans on the platform and about 10 in the pipeline. We also have several new lending partners ready to work with our structure as soon as there is sufficient capacity to do so. It is a bit premature currently as we only just launched. Thank you Loanpad . Why don't you offer parts of the junior tranche to your lenders? I suspect there are many here who would like a bite at the higher returns available.
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zlb
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Loanpad
Feb 3, 2019 19:59:33 GMT
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Post by zlb on Feb 3, 2019 19:59:33 GMT
So has the 100 been reached? Where is it listed on the platform? Thanks.
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zlb
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Loanpad
Feb 3, 2019 20:01:45 GMT
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Post by zlb on Feb 3, 2019 20:01:45 GMT
Signed up with Loanpad yesterday, and their website says they currently have 39 lenders - there is a 20% interest rate boost till the end of May for the first 100 lenders to sign up... Rates are 4% for the instant access 'Classic Account' (4.8% with the above bonus) and 5% for the 60-day notice 'Premium Account' (6% with bonus). They have residential property loans (max LTV 46%) totalling £1.1M live at the moment, with £2.1M 'upcoming'. Lenders' investments are 'spread across all performing loans'. Loans all seem to be originated via a finance company based in Bermondsey that has been operating since 1980. I invested for P2P diversification - it is my first venture into property loans, about which I am VERY cautious thanks to all the threads about property P2P on this forum. Incidentally I mean THANKS - aggrieved posters about property sites should know that novice investors are learning from you. interested, what caused you to decide on this for property, in that case? Thanks.
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michaelc
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Post by michaelc on Feb 4, 2019 0:42:49 GMT
4% or 5% for taking such a big risk? Won't get a penny from me.
Also interesting how new platforms really court the forum and then if and when they become successful they hardly ever grace us with their presence.
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Post by mrclondon on Feb 4, 2019 1:32:07 GMT
4% or 5% for taking such a big risk? Won't get a penny from me. Also interesting how new platforms really court the forum and then if and when they become successful they hardly ever grace us with their presence. Whilst Loanpad were of course correct to say "We do not think we can directly compare our products to other platforms for regulatory reasons. However, there are many differences between the accounts you mentioned and Loanpad accounts, not least the lending structure." in response to a post comparing them to AC's QAA/30DAA, other valid comparisons (but subject to the same caveat) include IMO Wellesley when they frst launched as a p2p platform, and LendInvest.
The rate offered has to reflect the risk, and the risk here is primarily one that the valuations are massively out of line such that the low quoted LTV is meaningless. Lenders can review the history of the lending partner via CH records (for the company borrowers) to form a mental picture of the number of charges that are outstanding in their loanbook, vs the number satisfied vs the number of receiver/administration actions initiated againt borrowers as well as the the geographical area they lend in (for the first lending partner this seems to be London and the south east with a bias to south of the river).
(I signed up a few hours ago and was no 58, and the dashboard page adjusted to the higher promotional rates of 4.8%/6% after an hour or so. I've sent £10 to confirm I've set the payment set up correctly, and will probably follow this with a larger amount on Monday).
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Post by mrclondon on Feb 4, 2019 12:59:07 GMT
Loanpad - it would be helpful if you could clarify how often you process deposits - the one I sent at c. 10:45 hasn't been processed yet ... I was assuming that you would do a sweep shortly before the mid-day allocation run. (Of course you may have done so, and it may be my FP got delayed ) Also, could you get your developers to look at the screen for withdrawing from the premium account - this is what I see (Firefox 64.0.2 on Win 10)
What does the NO button do ? (I'm reluctant to press it to find out) And shouldn't it make it clear what the fee is for withdrawals - not that there appears to be a button to select this. (I'm ssuming that is what the blank rectangle is for ??) Final question (for now) - can (free) withdrawal requests from premium be cancelled ?
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