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Post by henders on Jul 16, 2014 13:30:31 GMT
Just received the email re the above.
An interesting and innovative development, I think.
Certainly, gives me some reassurance in terms of exposure and, as far as I'm concerned, moves W up my league table of where I will continue to invest.
My preferred four, as if anyone cares, is: Z, RS AC and W; all with different models and, in my opinion, different strengths and weaknesses.
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Post by wellesleyco on Jul 16, 2014 13:37:34 GMT
Dear all, As henders kindly has mentioned, and shimself will be glad to hear, the Auto-matching and its reporting is due to go live on Friday Morning. After a delay from initially announcing our intention to implement this tool a few months ago we have made some changes, and are now confident to roll out the system. We have created an Auto-matching page for more details and a video explaining the new system. This can be found hereThe Auto-matching tool is a great piece of innovation which will continually increase diversification of lender funds across our loan book on a volume-weighted basis. This will in turn reduce any lender’s exposure to each individual borrower. The Auto-matching tool will also give greater transparency to the loans which lenders are matched against, within the Secure site. I would like to encourage any feedback to the site and the auto-matching innovation on here, directly or on TrustPilot.
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Post by davee39 on Jul 16, 2014 13:48:48 GMT
Just received the email re the above. An interesting and innovative development, I think. Certainly, gives me some reassurance in terms of exposure and, as far as I'm concerned, moves W up my league table of where I will continue to invest. My preferred four, as if anyone cares, is: Z, RS AC and W; all with different models and, in my opinion, different strengths and weaknesses. Agree with your analysis, currently with RS, Z, FC and W. After dabbling with a few others I will be pulling out as loans mature. Wellesley's growth has been remarkable, and they certainly seem to have entered the P2P premier division
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webwiz
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Post by webwiz on Jul 16, 2014 14:32:19 GMT
I have been waiting for this for months. Now that it is here W has moved to the top of my preference list but I may be more risk averse than most of you. My breakdown is now 60W 25RS and 15Z, Z is winding down.
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Post by mrclondon on Jul 18, 2014 21:52:08 GMT
And as promised, the auto-matching routine is now live, and my first impressions are were favourable. I have several £5000 blocks over different terms (1.5 years, 3 and 4 years). The website now reports each of these blocks is c. 90% invested in 85 loans, with my contribution per loan in each of those blocks varying from just £1 to £381. Instant diversification ! Perfect. EDIT: Actually its not that simple. How on earth can my funds be split across 85 loans when the stats page says there are only 71 active loans (and only 80 have been written in total). The answer appears to be that I have 2 or 3 contributions to some loans within in those 85 loans, but still seem to be lending to 73 distinct loans - which is 2 more than there are actual loans ?? wellesleyco - I think an idiots guide is needed !
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shimself
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Post by shimself on Jul 18, 2014 22:15:37 GMT
would loan 0340 be the biggest proportion, then 0523?
I see 77 loans
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Post by mrclondon on Jul 18, 2014 22:18:47 GMT
would loan 0340 be the biggest proportion, then 0523? Yes.
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baz657
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Post by baz657 on Jul 19, 2014 1:27:12 GMT
would loan 0340 be the biggest proportion, then 0523? I see 77 loans Same here for 3 out of the 4 loans I have there. The 4th is a small 18 month one started this month and 554 is first followed by 340.
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webwiz
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Post by webwiz on Jul 19, 2014 6:34:07 GMT
Congratulations Wellesley! You probably don't appreciate just how important this is to (at least some of) us.
I am also pleased to see that the raft of cash generated by the notice of the interest rate reduction seems to have been largely loaned out. Although we get paid interest even if it has not yet been loaned out it makes me nervous about the viability of the model if W are paying me but not getting anything themselves.
Perhaps W would consider showing the amount on offer by investors not yet loaned out on their statistics page?
I have 86 loan fragments to (I think) 74 distinct different loans.
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spiral
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Post by spiral on Jul 19, 2014 9:00:37 GMT
Perhaps W would consider showing the amount on offer by investors not yet loaned out on their statistics page? Isn't this now as simple as: If £50m is loaned out in total and 90% of your money is loaned out, then £50m equals 90% of deposited funds (because we should all have the same or at least very similar distribution) leaving 5.6M not yet loaned?
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spiral
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Post by spiral on Jul 21, 2014 18:02:09 GMT
And today I'm 100% invested which doesn't make sense unless they have no spare cash about and we're all 100% invested.
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baz657
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Post by baz657 on Jul 21, 2014 18:09:42 GMT
Not 100% here
3 Year Income (100.00%) 14/04/2014 14/04/2017 5.95%
18 Month Income (81.72%) 02/06/2014 02/12/2015 5.50%
18 Month Income (81.72%) 02/06/2014 02/12/2015 5.50%
18 Month Income (82.16%) 05/07/2014 05/01/2016 4.50%
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spiral
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Post by spiral on Jul 22, 2014 8:25:51 GMT
Mine was in the 18mth market so doesn't tally with yours. I've just realised though that the auto matching only occurs weekly so I suppose it is possible that I've had my last funds fully matched to a new loan that's come along and in the next run auto matching run will have some of that money unwound again.
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webwiz
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Post by webwiz on Jul 25, 2014 18:18:05 GMT
Mine have fallen to 84.35% on loan on Fri pm. Assuming that they have just run the weekly automatch we should now all be at 84.35%. I suppose that this can vary for individuals during the week.
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webwiz
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Post by webwiz on Jul 28, 2014 17:19:07 GMT
Does the footnote on each page of their site:
This figure is the total security held for all loans that we currently hold. It should be noted that each separate loan has specific security available only to that loan and the total security amount shown is not cross-collateralised.
any longer have any significance following the switch to auto-matching?
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