Loanpad Account Information
Updated May 1st 2019
Detailed Account Information & Screen Shots
First Investment – March 2019
Initial Investment – £1,500.00
Total Invested – £1,500.00
Total Return – £7.26
ROI% (per lender) – 5.00%
XIRR – N/A (not enough data yet)
Each month I send out an update on all of my Peer to Peer lending accounts. Below are the excerpts specific to Loanpad. Click here for all lender updates
In April I did an Initial Review of Loanpad. Although it’s early on for my investing experience with Loanpad, I wanted to do the initial review to highlight the research I have been doing on them. Initially Loanpad really does look like they will be a formidable force in the P2P Lending market. See the review for more detailed information, but it’s mainly due to the low LTV’s on ALL of their loans (see screenshot below), plus their loan originators 20% – 60% “skin in the game”. On top of that, both of Loanpads’ accounts have relatively early exit available (immediate on the Loanpad Classic Account, and 60 days notice on the Loanpad Premium Account for free, or immediate exit for a fee of 0.5%).
You can also see below how Loanpad pay interest. Every day, the equivalent of 5% per annum is credited to your account. Remember that 5% is the actual rate Loanpad offers. It does not take into account future compounding effects. So, if you reinvest the interest, actual returns should be around 5.3%.
There are no Loanpad cashback offers at present as the investor interest since Loanpad launched has been very good (understandably with the loans they have). I’ll let you know if & when any cashback offers come about.
Should you decide to invest with Loanpad, please use this link for their standard investment accounts so they know I sent you.
Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.
New to the lineup this month is Loanpad!
Loanpad are a new lender who are trying to enter the short-to-medium term Peer to Peer investment markets. They offer property development loans and they source their loans through a very experienced third party lender. Loanpad holds the senior position on all of its loans so if a loan goes bad, Loanpad gets first rights. One of the the things that attracted me to them are the low loan-to-value ratios they have on most of their loans. So similar to Kuflink, it would take a real disaster to lose all of my capital. Loanpad pays daily interest which is good if you’re looking for income to live on. Of course if you want to reinvest it, that is always an option too. I decided to invest with them as they are similar to Growth Street as far as short-term offerings.
You can get instant access to your money with a 4% return from Loanpad, which rivals Assetz Capital’s QAA account currently at 4.1%, as well as RateSetter’s Rolling Rate account sitting at around 3.4%. Then the Loanpad 60 day account offers 5% with a 60 day notice to withdraw your money at no cost. You can get it faster in an emergency under normal market conditions for a fee of 0.5%. Just to point out here, the rates they advertise (4% & 5%) are actual rates and do not take in to consideration compounding effects like most lenders advertise, so in theory the rates should be up there with Growth Street on the 60 day account if you reinvest all of your interest and repaid capital for the effect of compounding.
I’ll write a full review on Loanpad once I get a bit more experience with them and start to see what their returns actually look like. I believe upon initial investigation Loanpad will be a good, safer diversification option for investors wanting short-to-medium term access to their capital with a very reasonable return.
Should you decide to invest with Loanpad, please use this link for their standard investment account so they know I sent you. Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.
There are no cashback offers at present as the investor interest since they launched has been very good. I’ll let you know if & when any cashback offers some about.
Prior to September 2018, no screenshots were published, however you can still see the full updates below: