LinkedFinance - new website

Squall Leonhart

sceach16 wrote: »

Looking at T&C above

"All lending on Linked Finance is undertaken at the sole discretion of the Lender. It is your responsibility to make use of the technology and tools provided by Linked Finance in such a way that allows you to make informed lending decisions."

"... before lending via Linked Finance, you will form your own opinion regarding the creditworthiness of a Borrower and undertake your own research, analysis and assessment and seek your own independent financial advice. "

How is autobid compatable with these?

It's not. Autobid is LF's (successful) attempt to get people to fund less desirable loans by signing up before they've had a chance to actually assess what's on the table.

sceach16

Payment due today11Nov .....not received as of 14.30. Other loan's payments
received.

18.00 11 Nov....See linked email re this loan and email from business owner! Reasonable response.

Strettie11

Which loan is late?

sceach16

Strettie11 wrote: »

Which loan is late?

Did my heading not show? Its the Ugly Duckling Deli


18.00 11 Nov....See linked email re this loan and email from business owner! Reasonable response.

Strettie11

sceach16

Apologies I was looking at the forum on my phone and for some reason the message headings do not appear for me for any of the message boards!!!

sceach16

Anyone recall a D or an E grade loan?

smackyB

Has anyone here who loaned to La Maison received a voucher yet? Got an email from them last week to say it was being posted but no sign of it yet.

sceach16

smackyB wrote: »

Has anyone here who loaned to La Maison received a voucher yet? Got an email from them last week to say it was being posted but no sign of it yet.

Not yet but I am not over concerned...yet!

manafana

smackyB wrote: »

Has anyone here who loaned to La Maison received a voucher yet? Got an email from them last week to say it was being posted but no sign of it yet.

i got no email its been a mess

sceach16

smackyB wrote: »

Has anyone here who loaned to La Maison received a voucher yet? Got an email from them last week to say it was being posted but no sign of it yet.

I got mine this morning, cannot be used in December but that does not bother me.

spudwould

Question? : Are the majority still lending on LF or pulling their funds?
Just a thought as I was thinking of lending yet again .. until the "Ugly Duckling" .. but maybe I am biting off my nose to spite my face?

ABC101

I'm not lending anymore, but for personal reasons as distinct from being dissatisfied with LF.

The situation with my employer is not good so I'm trying to reduce my personal debt as much as I can and as fast as I can. I'm expecting to be out of work within the next 12 months.

It's been a while since I logged in, but the loans seemed to be filled very quickly, getting very competitive between lenders and the rate was getting down to 10% for most loans.

I still think it's a good idea, but you have to be careful who you loan to. Some businesses are much more fragile than others, slightest knock and the roof caves in.

tomwaits48

Only doing select 12 month loans.

Dream123

Open to some 12 / 24 month loans while the rest of my loans mature

Overall withdrawing cash

sceach16

spudwould wrote: »

Question? : Are the majority still lending on LF or pulling their funds?
Just a thought as I was thinking of lending yet again .. until the "Ugly Duckling" .. but maybe I am biting off my nose to spite my face?

I am withdrawing most of cash as it is repaid. The only exceptions are some 12 month loans C/Y (D/E do not appear to exist and seem designed solely to make C+ grades look better). I also autobid 50 for Y 24/36 loans.

I do not have confidence in linked ratings. In recent weeks, there have been several loans with negative net assets and current or recent lossmaking. They got at least a C!

Another major problem I have is that the terms and conditions have so many disclaimers that they do not give me any comfort.

BUT , as always, its up to each to decide.

losttheplot74

As there's no secondary market, and some outstanding loans are over 24 months, I'm still doing 12 and 24 months. Not depositing anymore cash. When the outstanding loans are less than 24 months, I'll only do 12 month terms. Just going to let it come to a close then. If there is excess cash I'll withdraw it and go with Mintos / Viventor /Twino/Bondora.

lcwill

I stopped depositing a while ago as I only ever intended marketplace lending to be a small part of my overall investments - I'm still reinvesting all interest and repayments though.

I have no idea what the risk of losing everything is but I guess it's relatively small and I decided before putting any money in that I was prepared for that risk.

I think marketplace lending has a future in Ireland and elsewhere but LF will need to evolve if it wants to be part of it. My guess is they will sell out to a larger player from Europe, UK or US at some point and then we will get the secondary market we all want.

sceach16

sceach16 wrote: »

Based on 3 year loans , using Linked default estimates , deducting Linked charge 1.2% and allowing for the average tax/usc rate for average earners (c50%), net returns for

A loans....2.7% B loans 2.2% C loans 1.7% D loans 1.0% E and Y loans MINUS 1.1%...:rolleyes::(:eek:)

For 1 year loans...A 2.2% B 1.7% C 1.1% D 0.4% And E/Y MINUS 1.1%.

This might be another reason not to invest!:mad::o:rolleyes::p:eek::(

manafana

sceach16 wrote: »

This might be another reason not to invest!:mad::o:rolleyes::p:eek::(

1.2% fee was understable at first, but with growing economies of scale its far too high in bigger market, very high when really in real terms for investor its -1.2% interest rate off every loan.

Mintos have no charges at moment on first markets, assume they are recovering costs from other side currently unlike linked who take from both sides

Cute Hoor

A new company, InitiativeIreland, being set up at the moment, but for personal borrowers rather than businesses, currently seeking 2 million in EIIS funding for operational costs as they launch. Appears to be backed by Enterprise Ireland

Squall Leonhart

I am reinvesting the repayments as they come through, but I am not and will not be adding any new capital.

at9qu5vp0wcix7

Squall Leonhart wrote: »

I am reinvesting the repayments as they come through, but I am not and will not be adding any new capital.

Same as. I will probably start to widthdraw in the new year - most of my investments were made back when 13%+ was the norm.

Cute Hoor

This autobid facility is making it very (too) easy for businesses to get a loan, without having to answer any potential lender questions. It puts extra responsibility back on LF to ensure that the businesses are kosher as well. Weddingsonline had a 30k loan application fully funded in 6 minutes yesterday, this is their third loan getting on LF this year for a total of 90k, a not insignificant amount for any one business to be receiving in such a short period of time. I would have expected a reasonably detailed explanation as to what this loan would be used for but this was the explanation provided on the loan application 'We will be using this as working capital to get us ready for what is going to be a very busy 2017 with a few different projects currently in the pipeline', which is about as woolie (to use their own terminology) as you can get.

Like others here I have started pulling my money out, it won't impact LF obviously as there appears to be a never ending supply of new lenders, a pity really that it has gone the was it has, it was good backintheday where you could have a look at the loan, decide what to do, and watch nervously as 9pm approached.

Grid Finance are now looking for new investors in the business as well (minimum 10k), I presume it's an EIIS investment although not sure

tomwaits48

NCLS Cranes is interesting.....it's at 15%, 3 years.....it's a sole trader, new venture so I'd usually be cautious but the guy seems to have identified a nice little niche in the industry so thinking of going againts my better judgement and putting a small amount in....feel it's guys like this that really need platforms like LF.

sceach16

tomwaits48 wrote: »

NCLS Cranes is interesting.....it's at 15%, 3 years.....it's a sole trader, new venture so I'd usually be cautious but the guy seems to have identified a nice little niche in the industry so thinking of going againts my better judgement and putting a small amount in....feel it's guys like this that really need platforms like LF.

It is a company! And yes, I like it too and have bid 100 and another 50 on autobid.

manafana

sceach16 wrote: »

It is a company! And yes, I like it too and have bid 100 and another 50 on autobid.

under old system he would have done much better, 15% is too good not to invest

PanAC

Anyone here got any information - RB Hair & Beauty failed to make their repayments today. Their website and FB pages have shut down without any explanation. No phones answered... ... Nothing yet from LF. Just as well I kissed goodbye to the money before I bid it away. And added it to the >4k defaults so far.

PanAC

Got the following reassurance from Conor in LF -
"We have spoken with the business owner and we have been assured that a payment will be made at the end of this week."

spudwould

PanAC wrote: »

Anyone here got any information - RB Hair & Beauty failed to make their repayments today. Their website and FB pages have shut down without any explanation. No phones answered... ... Nothing yet from LF. Just as well I kissed goodbye to the money before I bid it away. And added it to the >4k defaults so far.

Quite a high number for defaults..! :mad:

PanAC

Just to put a little context to my defaults -

EQ Community Festivals Ltd €120 @ 14.4%
Manor Brands €1850 @ 9.9% & 9.8%
Another Manor Brands € 170 @ 9.9%
Roobell Ltd €1000 @ 10.6%
M.K. Country Fresh Eggs € 340 @ 10.6%
Karen Garvin Kinsale Health € 280 @ 9.5%
Pearse Roofing and Cladding € 190 @ 10.3%

Its a learning curve. After the Manor Brands loan default, I limited my lending to €200 max per loan.
I invested €44550 back when, and that has bought a total of €88280 worth of loans. I'm now in the process of withdrawingmost of it and spreading it among Mintos, Bondora, and Twino. Withdrew over €10800 so far.
I had 276 loans, of which 10 finished early, 260 still repaying, and defaults from the six companies.
I still pick up any Ys and a few Cs but never more than €50 a spin (with my Lotto money)
Rant rant rant... ... ...