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Post by gravitykillz on Jan 16, 2019 18:09:02 GMT
Little dissatisfied at not being able to lend straight after opening my account. Apparently i have to wait for my card payment to clear. I just want to ask can i choose the highest interest paying loans and will those loans be guaranteed by the pf ? Sounds too good to be true.
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benaj
Member of DD Central
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Post by benaj on Jan 16, 2019 18:20:32 GMT
Hi, clearing is usually quick and I had mine cleared within hours today earlier. It can take up to 48 hours to clear sometimes. However, confirmed money does not get invested within 24 hours due to Cash drag and I have no idea how long I have to wait before 100% lent out. Lending volume was good last December.
A pop up screen will appear when you "add Investment", you can set the rates range for the loans. The provision fund will buy loans when borrowers miss repayment. At the moment, it is not a concern but keep an eye on Provision Fund Coverage
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Post by gravitykillz on Jan 16, 2019 18:27:40 GMT
Thanks for the confirmation. Started with a small amount as i have never heard of this platform. But when my money clears will select a medium/high range.Its a shame i cant set this automatically.
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Post by df on Jan 16, 2019 19:27:04 GMT
Little dissatisfied at not being able to lend straight after opening my account. Apparently i have to wait for my card payment to clear. I just want to ask can i choose the highest interest paying loans and will those loans be guaranteed by the pf ? Sounds too good to be true. My last two or three card payments were cleared within 4 hours. Not sure about evenings thou, I usually transfer in the morning. PF will cover all your loans regardless the rate you set. A bit of advice - if you limit you rate to 15% it might take a while for your money to be matched to loans. Also, as far as I know, reinvestments have priority. I would recommend to open your new investment to a wider rate range to avoid cash drag.
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Post by Badly Drawn Stickman on Jan 16, 2019 19:52:32 GMT
Little dissatisfied at not being able to lend straight after opening my account. Apparently i have to wait for my card payment to clear. I just want to ask can i choose the highest interest paying loans and will those loans be guaranteed by the pf ? Sounds too good to be true. My last two or three card payments were cleared within 4 hours. Not sure about evenings thou, I usually transfer in the morning. PF will cover all your loans regardless the rate you set. A bit of advice - if you limit you rate to 15% it might take a while for your money to be matched to loans. Also, as far as I know, reinvestments have priority. I would recommend to open your new investment to a wider rate range to avoid cash drag. Presumably the PF only covers the capital? In which case a lower interest paying loan could be as good or better if the chance of successful payment was better? I see you can sell loans, how does that work? The question marks are needed, I really don't know.
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Post by df on Jan 16, 2019 20:16:29 GMT
My last two or three card payments were cleared within 4 hours. Not sure about evenings thou, I usually transfer in the morning. PF will cover all your loans regardless the rate you set. A bit of advice - if you limit you rate to 15% it might take a while for your money to be matched to loans. Also, as far as I know, reinvestments have priority. I would recommend to open your new investment to a wider rate range to avoid cash drag. Presumably the PF only covers the capital? In which case a lower interest paying loan could be as good or better if the chance of successful payment was better? I see you can sell loans, how does that work? The question marks are needed, I really don't know. There's also PF bonus (paid monthly) that covers lost interest. In my understanding, the advantage of setting lower rates is to avoid being stuck in the queue. I have no experience in selling loans, so can't comment on time frame. I assume it works in straight forward way - put investment for sale and it will join the queue to be allocated to other lenders???
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michaelc
Member of DD Central
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Post by michaelc on Jan 17, 2019 0:10:10 GMT
I'm not sure I agree that setting the widest range to avoid cash drag is the best strategy especially if re-investment takes priority of new investments. I'm now well into 5 figures and not finding cash drag to be a significant issue. Not yet at least.
Certainly it would be true that having new investors taking up the slack of the lower paying loans would be beneficial to those already invested at the higher end since it maintains platform sustainability.
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Post by Ace on Jan 17, 2019 0:59:36 GMT
Until Welendus publish the borrower demand for each rate it's always going to be a bit of a guessing game as to which lending rate is optimal.
If lenders are scarce you may as well go for 15% only, as I understand it, since you would pick up all loans (including those at a lower risk rate) at a 15% coupon.
If borrowers are scarce and you've set your rate to 15% only, your cash will drag until a borrower with a 15% risk rating turns up.
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Post by df on Jan 17, 2019 16:06:49 GMT
I'm not sure I agree that setting the widest range to avoid cash drag is the best strategy especially if re-investment takes priority of new investments. I'm now well into 5 figures and not finding cash drag to be a significant issue. Not yet at least. Certainly it would be true that having new investors taking up the slack of the lower paying loans would be beneficial to those already invested at the higher end since it maintains platform sustainability. I set new investments at 10%-15%. Last investment 2 days ago was lent at average 11.55% (lowest chunks @11%, highest @12.5%). Probably not the best strategy, but I don't know any better. I'm not sure if there is any incentive to set rates in the region of 5%-9%. Perhaps somebody can comment on this?
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benaj
Member of DD Central
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Post by benaj on Jan 17, 2019 17:50:45 GMT
I set new investments at 10%-15%. Last investment 2 days ago was lent at average 11.55% (lowest chunks @11%, highest @12.5%). Probably not the best strategy, but I don't know any better. I'm not sure if there is any incentive to set rates in the region of 5%-9%. Perhaps somebody can comment on this? The default lending rate is 5%-15%. I got a 5% loan once as I forgot to set the rate. I am still trying to understand how Welendus matches loan in my portfolio. Earlier ago, I found new "investment" was matched quickly, and then the other times, the older investment money was matched first. My guess is my entire portfolio is probably "messed" up and need a major "reconstruction".
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Post by df on Jan 17, 2019 21:24:22 GMT
I set new investments at 10%-15%. Last investment 2 days ago was lent at average 11.55% (lowest chunks @11%, highest @12.5%). Probably not the best strategy, but I don't know any better. I'm not sure if there is any incentive to set rates in the region of 5%-9%. Perhaps somebody can comment on this? The default lending rate is 5%-15%. I got a 5% loan once as I forgot to set the rate.I am still trying to understand how Welendus matches loan in my portfolio. Earlier ago, I found new "investment" was matched quickly, and then the other times, the older investment money was matched first. My guess is my entire portfolio is probably "messed" up and need a major "reconstruction". Interestingly I had 5% loan once too It was when new facility to set a range of rates was introduced. I was probably a little confused about the technicality of it and set that investment at full width. Strange that you experience a lot of cash drag. Don't understand why you do and I don't. Reconstruction might be a way forward??? I suppose you can do it by selling everything and starting from scratch?
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Post by gravitykillz on Jan 17, 2019 21:24:33 GMT
Invested £100 which i pulled out of octopus choice (decided the returns were not worth the 4% risk profile) invested it in here. Half my money is now lent between 8.5% and 11.5%. I am going to test it for a few months before putting any more in. But so far so good.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 18, 2019 3:06:37 GMT
I have been investing a good few months now and take the view of spreading the money in chunks across ranges. ie. say some at 10-15%,12-15%,11-15% , 13-15%
This gives me a minimum of 10% on 25% of my investment. No problem with deposits or uptake being slow. With PF and discretionary bonuses being paid I am a happy bunny.
Come April I will switch all to FISA so we will see how easy that goes if I have to sell loans then move funds to FISA or deposit sufficient into FISA and on two computers Sell and select 10-15% in FISA with the hope of buying my own parts rather than waiting for others to sell or new borrowers. Then transfer from other FISA's as much as required.
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Post by gravitykillz on Jan 18, 2019 6:05:24 GMT
Wondering how is it is to withdraw funds from welendus. Anyone tried withdrawing yet ?
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Post by Ace on Jan 18, 2019 9:05:26 GMT
I have been investing a good few months now and take the view of spreading the money in chunks across ranges. ie. say some at 10-15%,12-15%,11-15% , 13-15%
This gives me a minimum of 10% on 25% of my investment. No problem with deposits or uptake being slow. With PF and discretionary bonuses being paid I am a happy bunny.
Come April I will switch all to FISA so we will see how easy that goes if I have to sell loans then move funds to FISA or deposit sufficient into FISA and on two computers Sell and select 10-15% in FISA with the hope of buying my own parts rather than waiting for others to sell or new borrowers. Then transfer from other FISA's as much as required.
The two screen shenanigans aren't going to help you get your IFISA invested on Welendus. All money loaded into your IFISA will go to the back of the lending queues for the rates that you have selected.
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