Loanpad Account Information

Loanpad Account Information

Updated September 1st 2019

 

Detailed Account Information & Screenshots

 

First Investment Date          – March 2019

Initial Investment Amount  – £1,500.00

Total Added                         – £5,000.00

Total Withdrawn                   – £0.00

Invested Currently               – £5,000.00

Current Account Balance   – £5,047.69

 

Total Interest Return           – £47.69

ROI% (per lender)                – 5.00% 

XIRR                                      – 6.56% 

 

 

See My Full Loanpad Review Here

 

My Loanpad Returns, Account Growth & Income Charts

 

Loanpad Account Growth Chart

Loanpad Monthly Income Chart

View Consolidated Monthly Investment Returns from All Lenders

 

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

August 2019 Monthly Update

 

LOANPAD

See Full Review

Loanpad Account Screenshot for Peer to Peer Lending Update - August 2019 1

 

I increased my investment in Loanpad again by £2,000 in August. I’m still watching them but I really like the low LTV’s on ALL of their loans (see screenshot below), plus their loan originators 20% – 60% “skin-in-the-game“. Just as important is the ability to withdraw capital with just 60 days notice on the premium account and instantly on the classic account.

The XIRR climbed significantly to 6.56% in August. That’s on a target return suggested by them of 5.00%. This is because the Loanpad target rate on the account is the actual rate you get, not taking in to consideration investing all of the returns for the effects of compounding. As opposed to the AER (Annual Equivalent Rate) given by most other lenders (both Peer to Peer and Banks/Building Societies) which estimates the rate based on all of the interest being invested back in to the account.

That being said, almost 2% above the target rate is more than expected, and I think it has more to do with the large increase in capital and timing. I do not expect that XIRR to be the norm. I’m expecting Loanpad XIRR to settle somewhere around 5.5% realistically, which I will be totally happy with.

 

I know I do this every month but I wanted to once again point out the low LTV loans I’ve been automatically invested in. See below, around 5%? Very unlikely anyone will ever lose any capital with asset security like that.

 

Loanpad Account Screenshot for Peer to Peer Lending Update - August 2019 2

 

If you’re going to invest with Loanpad (which you should definitely consider if you’re building your P2P portfoio). They have a cashback incentive right now – £50 bonus if you invest into a lending account a minimum of £1,000 within 4 weeks post registration and keep this invested for 365 days; or £150 bonus if you invest into a lending account a minimum of £10,000 within 4 weeks post registration and keep this invested for 365 days. 

Click here to read more about Loanpad’s cashback offer.

Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.

 

 

 

 

 

July 2019 Monthly Update

 

LOANPAD

See Full Review

Loanpad Account Screenshot for Peer to Peer Lending July 2019 Update 1

 

Loanpad seem to be doing well as a new lender. So much so in fact that I sent over another £500 to them in July. I really like the low LTV’s on ALL of their loans (see screenshot below), plus their loan originators 20% – 60% “skin-in-the-game“.

The XIRR is at 5.60% this month (the same as my Lending Works XIRR). That’s on a target return suggested by them of 5.00%. This is because the Loanpad target rate on the account is the actual rate you get, not taking in to consideration investing all of the returns for the effects of compounding. As opposed to the AER (Annual Equivalent Rate) given by most other lenders (both Peer to Peer and Banks/Building Societies) which estimates the rate based on all of the interest being invested back in to the account.

So, because I’ve been investing all of the interest back in to the account, my XIRR is higher than the Loanpad target rate. 5.60% actual XIRR is darn good for loans with this kind of security.

Loanpad Account Screenshot for Peer to Peer Lending July 2019 Update 3

 

The interest comes in every day. Also Loanpad now have auto-invest which really does make this account a safer, hands off investment account in my opinion.

 

 Loanpad Account Screenshot for Peer to Peer Lending July 2019 Update 2

Loanpad Account Screenshot for Peer to Peer Lending July 2019 Update 4.1

 

If you’re going to invest with Loanpad, they have a cashback incentive right now – £50 bonus if you invest into a lending account a minimum of £1,000 within 4 weeks post registration and keep this invested for 365 days; or £150 bonus if you invest into a lending account a minimum of £10,000 within 4 weeks post registration and keep this invested for 365 days. 

Click here to read more about Loanpad’s cashback offer.

Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.

 

 

 

 

June 2019 Monthly Update

 

LENDING WORKS

See Full Review

Lending Works Account Screenshot for June 2019 P2P Lending Update 1

 

 

Lending Works income was back on track this month after a small dip in May. June was the second highest month since the portfolio began at £180.82.

XIRR keeps slowly climbing from 5.33% last month to 5.49% in June. Even Lending Works own target numbers for my account rose a tiny bit once again from 6.19% to 6.20%.

You really can’t go wrong with Lending Works. Great rates with the safety of the best provision fund in the business, the “Lending Works Shield“. There’s a reason they are one of my largest lending accounts with almost £32k invested.

As you can see below in the screenshot, my repaid capital is being reinvested at the 6.5%. I initially got into Lending Works about a year ago at 6.0%, so it’s nice to see the rates climbing steadily as my reinvestment capital gets lent out at the higher rates.

Lending Works Account Screenshot for June 2019 P2P Lending Update 2

 

If you decide to invest with Lending Works (which if you’re getting in to P2P, you probably should consider), they still have the 6.5% available, so if you’re thinking of investing with them, consider doing it sooner rather than later. 

Remember, RateSetter was at 6.7% just a few months ago, now they’re at 5.4% 🙁  

Use this link to get £50 cashback for investing just £1000 with Lending Works (for new investors).

 

 

 

LOANPAD

See Full Review

See Screenshots & Detailed Monthly Updates From My Loanpad Account

Loanpad Account Screenshot for June 2019 P2P Lending Update 1

 

I’m getting more and more comfortable with Loanpad. So much so in fact that I sent over another £1000 to them in June. The more I invest with them, the more it makes me like them a lot. See the Loanpad Review for more detailed information on why, 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“.

Also did you notice the XIRR on Loanpad? It’s at 5.87%! That’s on a target return suggested by them of 5.00%. This is because the Loanpad target rate is the actual rate you get (similar to XIRR) instead of the AER (Annual Equivalent Rate) given by most other lenders (both Peer to Peer and Banks/Building Societies) which estimates the rate based on all of the interest being invested back in to the account. So, because I’ve been investing all of the interest back in to the account, my XIRR is higher than the Loanpad target rate.

Do you see the loan at the bottom of the screenshot below with a 5.76% LTV? Seriously, how are you ever going to lose any money on that loan? Have you ever known any real estate, anywhere, losing 94.24% of it’s value? Especially in a first world country like the UK? That is what would need to occur for you to lose any money on that loan. Even then I’m not including the loan originators first loss “skin-in-the-game” percentage which would take any loss before other lenders on the platform.  Never going to happen in my opinion. And if it did, you’d have a lot more to worry about than your money in Peer to Peer lending accounts. 

On top of that, both of Loanpad’s 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%). If you’re risk averse but still want to make a reasonable return on your capital, you could do a lot worse than Loanpad. I’ll be sending more money over there in weeks to come.

 

Loanpad Account Screenshot for June 2019 P2P Lending Update 3

 

You can see in the screenshot below, interest is being paid back daily in to my lending account, which I then reinvest when it gets to over £10.

 

Loanpad Account Screenshot for June 2019 P2P Lending Update 2

 

If you’re going to invest with Loanpad, they have a cashback incentive right now – £50 bonus if you invest into a lending account a minimum of £1,000 within 4 weeks post registration and keep this invested for 365 days; or £150 bonus if you invest into a lending account a minimum of £10,000 within 4 weeks post registration and keep this invested for 365 days. 

Click here to read more about Loanpad’s cashback offer.

Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.

 

 

 

May 2019 Monthly Update

 

LOANPAD

See Full Review

Loanpad Returns and Account Screenshot for May 2019 Update 1

 

 

Loanpad is still quite new to me having only been investing with them for a few months now. Already I like them a lot. See the Loanpad 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 Loanpad’s 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%).

 

Loanpad Account Screenshot for April 2019 Update 2

 

 

Interest is paid daily with Loanpad as you can see below. The only thing I’m not 100% happy with is that there is no way to reinvest this interest or repaid capital automatically. I understand that Loanpad are working on a solution for this which should be available soon though.

It’s really not a big deal, you just need to go on to Loanpads website when the interest repaid gets to £10 or over and hit the reinvest button. However it’s the only thing which keeps Loanpad from being almost a 100% hands-off auto-investment.

 

Loanpad Peer to Peer Lending Account Screenshot for May 2019 Update 2

 

Loanpad introduced a new cashback offer! Up to £150 cashback for new investors. Click here for more information on the cashback offer and get the special cashback bonus code.

 

Loanpad also enable tax free investing through an ISA so click here if you are interested in reading more about the ISA.

 

 

April 2019 Monthly Update

 

LOANPAD

See Full Review

Loanpad Account Screenshot for April 2019 Update 1

 

 

 

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%).

 

Loanpad Account Screenshot for April 2019 Update 2

 

 

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%.

Loanpad Account Screenshot for April 2019 Update 1.1

 

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.

 

 

 

 

 

March 2019 Monthly Update

 

LOANPAD

See Full Review

Loanpad Account Screenshot for March 2019 Update 1

 

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.

Loanpad Account Screenshot for March 2019 Update 3 Loanpad Account Screenshot for March 2019 Update 2

 

Loanpad Review

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.

 

 

 

 

<<< Return to Full Loanpad Review

 

 

Prior to September 2018, no screenshots were published, however you can still see the full updates below:

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