Anybody had any experience of Lendy ?

[anonymous-user]

As above.

Good, bad or indifferent ?

Any other p2P investment platforms you would recommend instead ?

[tharriso]

Was looking at this at lunch but could not really sus it.

Been using funding circle for two years return 9% for me.


A punters forum here but not got time for it today:
http://www.p2pindependentforum.com/board/58/lendy

[KTF]

I use AssetzCapital (GBBA) with a small amount in Funding Circle to see what the returns are like before committing more.

[minimad69]

I put a small tester amount in funding circle. After a few months put a bit more.

Used the autobid feature and 2 loans defaulted. Now at a loss, so pulled it out and stuck it in the bank again. Not a massive loss, but pulled it out before any more defaulted.

I think ZOPA have lower rates, but have reserve funds so are safer,

[audidoody]

RSK21 said:

As above.

Good, bad or indifferent ?

Any other p2P investment platforms you would recommend instead ?

i've tried most of them.

Zopa the best.

Funding Circle the worst (most gains lost to bad debt and fees)

[red_slr]

So say you put £50k in Zopa they say you get monthly payments back.

So lets say you put in in for 12 months would you get £162.50 a month (before fees) back plus the capital?

If that's the case It hardly seems worth it? Or do I have the wrong end of the stick?

[Nickbrapp]

I've used it and not had a bad experience yet. The only issue if is loans default then you can't get your money back until they have recovered the debt, that's only happened to me once.

It's much more populated than it used to be, their admin team is also totally useless

[anonymous-user]

anonymous said:

[redacted]

Are you happy to give a sense of what that income is based on that level of capital ?

And thanks to all for contributions thus far.

[KTF]

Have a read here as all the platforms are covered on this forum: http://p2pindependentforum.com/board/58/lendy

[Rick101]

Just started with P2P and went with Assetz Capital.

All good so far. I like the simplicity.

May try a few others to see how they compare.

[Deano_Deano]

I've used Lendy for the last year and a half and can't fault them too much. I'm pretty small-time and tend to only go for 12% loans and have been lucky enough to avoid any defaults. If you look at Trustpilot most complaints come from defaults as a lot of people seem to have confused Lendy with being a savings account that pays a very large amount of interest. This is from the time you could sell pretty much any and all loan parts in seconds as others were so desperate to get their money in. I don't believe Lendy have lost anyone’s money as of yet and the provision fund has paid out in the past.

My personal strategy is to diversify. I use Lendy, Collateral, Moneything and Funding Secure and only go for 12-15% loans. I have previously used Zopa, Ratesetter and Funding Circle but I don't consider their risk is worth the return. Out of these 4 I then diversify between a good number of loans on each platform and (fingers crossed) I have had no problems yet whilst getting a good return on my money. I personally think Lendy is one of the companies least likely to suffer from a total platform failure as they’re profitable: http://explorep2p.com/peer-to-peer-lender-profit/

If you go with Lendy my recommendation is don't be desperate to get your money in, read the info given and make up your own mind whether you think the loan will ultimately be paid in a timely manner.

Edited by Deano_Deano on Wednesday 16th August 17:51

[tharriso]

What do you guys think of manual management of the loan parts vs the autobid features?

This is my status in 12 months on funding circle using the autobid on default settings:

Gross yield: 9.9%
Annualised return (after fees and bad debts): 8.8 %