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Post by nsiam on Feb 1, 2018 20:58:39 GMT
We need more investors at the higher rates for those who are interested.
Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments.
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Post by df on Feb 1, 2018 21:25:00 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. Well, at this moment I have 50% of my 11.5% and 40% of 13.5% not invested. What have I done wrong to be pushed off the queue?
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Post by skint4achange on Feb 1, 2018 21:46:10 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. Well, at this moment I have 50% of my 11.5% and 40% of 13.5% not invested. What have I done wrong to be pushed off the queue? See? This is what happens when you are a prefect!!
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Post by skint4achange on Feb 1, 2018 21:48:09 GMT
In all seriousness though nsiam, this is why I mentioned before that you need to show how big the queues for each rate are. You will find that people will find it much easier to move money around and give you money at the rates you require.
I know Rome wasn't built in a day, but this is more of a necessity than a nicety. IMHO
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Post by nsiam on Feb 1, 2018 21:54:34 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. Well, at this moment I have 50% of my 11.5% and 40% of 13.5% not invested. What have I done wrong to be pushed off the queue? df, you haven't done anything wrong. But even with your investment and taking into account diversification, we need more investors to lend at these rates. For example, if a lender is investing £100 at say 12%, they will need at least 20 more £100 investments or 2 more £1000 investments at 12% or higher rate to make up a £200 pound loan. So we still do need more lenders at the higher rates. We will introduce new feature soon that will help with the above.
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Post by nsiam on Feb 1, 2018 21:57:39 GMT
In all seriousness though nsiam , this is why I mentioned before that you need to show how big the queues for each rate are. You will find that people will find it much easier to move money around and give you money at the rates you require.
I know Rome wasn't built in a day, but this is more of a necessity than a nicety. IMHO We are taking all your comments on-board and will be adding quite few new features very soon (your recommendation included). I will create another post to update you with the release of our new features.
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Post by skint4achange on Feb 1, 2018 23:43:22 GMT
I would gladly reinvest in Welendus if it were not for this exact problem.
At the moment there are not enough investors to ensure that you are not over exposed to one borrower/loan. At the same time, there are not enough borrowers to attract more lenders.
Do nsiam and his colleagues increase the maximum exposure of each investor to these loans and hope that the default values do not rise and cause the platform to get bad press or do they try to get more investors interested and hope that supply doesn't overtake demand? It is a tricky situation for such a young platform.
The platform displaying the queue for each rate would help to some degree, but if the maximum exposure of each investor to each loan is maintained at such a low level, filling the loans with a limited number of investors may prove challenging.
It is a tough call in my eyes, but one that could at least be partially alleviated by transparency in the lending queues.
Just saying.
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marka
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Post by marka on Feb 2, 2018 7:21:39 GMT
I initially invested at 5 rates, but as only 2 were lending out very slowly after a couple of weeks, I withdrew the other 3 to wait until things picked up a bit. One of those was 11.5% so the need for it must have come later.
Now of course the problem is that I have put it back in again but its another 7 day wait for the deposit to appear in my account.
Besides the queue transparency, the speed of deposits has to be urgently addressed.
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Post by sayyestocress on Feb 2, 2018 10:29:35 GMT
So cash drag is being caused by lack of lender money rather than an overabundance of it or a lack of borrower demand? Interesting. It's like the opposite of other platforms! It's a shame it'll take a while (slow deposits) to plug the 15% hole now that we know it's under rather than over funded. Looking forward to deposit times and market visibility improvements as they seem essential now. Perhaps giving people the option to determine their own maximum amount per borrower/loan rather than £10 across the board would help alleviate some of this pressure?
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alison
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Post by alison on Feb 2, 2018 16:20:49 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. After my £100 little toe dip early'ish in January I finally managed to get £40 lent out at 9% by 29 January. This was courtesy of a change of selected lending rate from 10% tp 9%. After that it stalled. So having seen nsiam 's post above suggesting there was a gap at 15%, I went through the strange withdraw and reinvest route so that I could switch to the 15% rate. However this seems to have withdrawn my whole £100 and now has it all available for lending at 15%. So what has happened to the £40 already lent out at £40? I have passed this on to the Feedback section on welendus so maybe I'll get a good answer. Failing that I'll accept answers on postage stamps. I'm certainly not putting any more into welendus until as a minimum I can see where the lending rate gaps are.
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Post by skint4achange on Feb 2, 2018 16:24:53 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. After my £100 little toe dip early'ish in January I finally managed to get £40 lent out at 9% by 29 January. This was courtesy of a change of selected lending rate from 10% tp 9%. After that it stalled. So having seen nsiam 's post above suggesting there was a gap at 15%, I went through the strange withdraw and reinvest route so that I could switch to the 15% rate. However this seems to have withdrawn my whole £100 and now has it all available for lending at 15%. So what has happened to the £40 already lent out at £40? I have passed this on to the Feedback section on welendus so maybe I'll get a good answer. Failing that I'll accept answers on postage stamps. I'm certainly not putting any more into welendus until as a minimum I can see where the lending rate gaps are. I think that because the loans were not formed at 9% the platform has taken it back and put it all on the 15% market.
Oh dear!
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Post by skint4achange on Feb 2, 2018 16:29:29 GMT
I have to wonder how long the borrowers (Who have turned to a payday lender for a fast loan!) will tolerate the loans taking so long to form or if the platform is dealing with that in another way?
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stub8535
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Post by stub8535 on Feb 2, 2018 16:47:51 GMT
I have to wonder how long the borrowers (Who have turned to a payday lender for a fast loan!) will tolerate the loans taking so long to form or if the platform is dealing with that in another way?
There was an interesting article on orca about this very issue that was e mailed to me today. P2p platforms are being shunned by companies offering loans in favour of those that balance sheet lend so they know the money is there waiting when required. As retail investing by p2p lenders is something that was frowned upon by the FCA I wonder if they may have a rethink in order to rebalance the field of engagement? The article strengthens the assertion that money must be on account for immediate distribution at the quoted rate or the borrower will go somewhere else.
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ilmoro
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Post by ilmoro on Feb 2, 2018 17:28:03 GMT
We need more investors at the higher rates for those who are interested. Currently we have a free queue for investments over 11.5% return and we need a lot more 15% return investments. After my £100 little toe dip early'ish in January I finally managed to get £40 lent out at 9% by 29 January. This was courtesy of a change of selected lending rate from 10% tp 9%. After that it stalled. So having seen nsiam 's post above suggesting there was a gap at 15%, I went through the strange withdraw and reinvest route so that I could switch to the 15% rate. However this seems to have withdrawn my whole £100 and now has it all available for lending at 15%. So what has happened to the £40 already lent out at £40? I have passed this on to the Feedback section on welendus so maybe I'll get a good answer. Failing that I'll accept answers on postage stamps. I'm certainly not putting any more into welendus until as a minimum I can see where the lending rate gaps are. AIUI The loans will have been sold to other investors.
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alison
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Post by alison on Feb 2, 2018 17:44:38 GMT
After my £100 little toe dip early'ish in January I finally managed to get £40 lent out at 9% by 29 January. This was courtesy of a change of selected lending rate from 10% tp 9%. After that it stalled. So having seen nsiam 's post above suggesting there was a gap at 15%, I went through the strange withdraw and reinvest route so that I could switch to the 15% rate. However this seems to have withdrawn my whole £100 and now has it all available for lending at 15%. So what has happened to the £40 already lent out at £40? I have passed this on to the Feedback section on welendus so maybe I'll get a good answer. Failing that I'll accept answers on postage stamps. I'm certainly not putting any more into welendus until as a minimum I can see where the lending rate gaps are. AIUI The loans will have been sold to other investors. Oh well I'm glad somebody got some benefit from it then!!
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