michaelc
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Post by michaelc on Mar 21, 2019 21:06:21 GMT
Still trying to get my head around W. In an effort to "rejiggle" my investments I've now got nearly 10K in "pending withdrawal" that were two 5K investments. In the "manage investments" it shows I have about £5 invested in one and £10 invested in the other. Does that mean the full 10K is earning almost nothing and I can't access it until something happens to the £15 lose change ? If someone kindly confirms that, then that surely means it is definitely not wise to create one large investment but to have many small ones. I think £100 was suggested. These are my previous withdrawal: Sold £400.00 @ 12.0 - 15.0% earned + £0.18 interest (22 days) Sold £1,000.00 @ 11.0 - 15.0% earned + £0.04 interest (7days - only £220 invested out of £1000) Basically, I kept the "earned" interest + capital. Thanks benaj but right now it shows: £4,016.17 @ 12.0 - 15.0% + £48.42 £5.06 £0.00Withdrawn Requested £5,000.00 @ 12.0 - 15.0% + £51.83 £10.00 £0.00Withdrawn Requested Doesn't that mean only £15.06 is earning interest and the rest is in a black hole somewhere until the position is fully withdrawn?
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Post by nsiam on Mar 21, 2019 21:08:47 GMT
Agreed @village Idiot, improvements are needed but there is little incentive for W to make them at the moment. I certainly have no plans to invest further as things are. Welendus has been operational for less than 15 months. During this short period, there has been a lot of updates and improvements. Our incentive is to offer lenders the best investment product possible. We have more updates coming soon. We are not settled yet.
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Post by df on Mar 21, 2019 21:11:46 GMT
Still trying to get my head around W. In an effort to "rejiggle" my investments I've now got nearly 10K in "pending withdrawal" that were two 5K investments. In the "manage investments" it shows I have about £5 invested in one and £10 invested in the other. Does that mean the full 10K is earning almost nothing and I can't access it until something happens to the £15 lose change ? If someone kindly confirms that, then that surely means it is definitely not wise to create one large investment but to have many small ones. I think £100 was suggested. As far as I understand, yes this is how it works.You can't withdraw part of your investment. I don't think splitting 10k into 2 investments is a wise strategy, particularly if you think of exit.
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Post by nsiam on Mar 21, 2019 21:12:07 GMT
This contradicts the T&Cs: "15.3. The sale price for loan parts will be the outstanding principal amount, less any relocation costs and plus any interest accrued during the month. The accrued interest will be updated automatically at the end of each day." I've never withdrawn or sold anything on WLU, so can't say whether they are following theIrish own terms! One possibility is that the " relocation costs" are equal to the accrued interest, as these seem to be undefined. Not for the first time, nsiam ? I would love to know what relocation costs are, it is only mentioned once in T&C Zero.. There are no secondary market or exit fees, cost or penalties. Plus all earned interest is earned. When withdrawing investments, you will only lose the interest due from future/unpaid payments.
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benaj
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Post by benaj on Mar 21, 2019 21:14:31 GMT
These are my previous withdrawal: Sold £400.00 @ 12.0 - 15.0% earned + £0.18 interest (22 days) Sold £1,000.00 @ 11.0 - 15.0% earned + £0.04 interest (7days - only £220 invested out of £1000) Basically, I kept the "earned" interest + capital. Thanks benaj but right now it shows: £4,016.17 @ 12.0 - 15.0% + £48.42 £5.06 £0.00Withdrawn Requested £5,000.00 @ 12.0 - 15.0% + £51.83 £10.00 £0.00Withdrawn Requested Doesn't that mean only £15.06 is earning interest and the rest is in a black hole somewhere until the position is fully withdrawn? One of my withdrawal £400 was transferred to the bank accounts on 2 different days, 7 days apart. If you haven't unchecked "reinvest", the money may have been transferred back to the bank account, and the remaining will be transferred "soon".
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Post by nsiam on Mar 21, 2019 21:16:22 GMT
They don't do the same thing. Both actions forgo accrued interest. Withdraw investment will effectively forgo all the accrued interest on all loans and lenders could choose all the money within investment returning back to bank account or to reinvest in another investment, the other action can't, money stayed within the investment. This contradicts the T&Cs: "15.3. The sale price for loan parts will be the outstanding principal amount, less any relocation costs and plus any interest accrued during the month. The accrued interest will be updated automatically at the end of each day." I've never withdrawn or sold anything on WLU, so can't say whether they are following theIrish own terms! One possibility is that the " relocation costs" are equal to the accrued interest, as these seem to be undefined. Not for the first time, nsiam ? All exit Costs and fees are set at zero.. the only loss will be interest due on future/unpaid repayments.
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Post by df on Mar 21, 2019 21:23:08 GMT
No you don't get matching notification e-mails, that would be a lot of e-mails every day. I can't remember if I had "congrats on your first", it was 14 month ago. What's the overall % of your lent money so far? I see that now, next time I logged in I had been matched some more. I am 13% lent now That's something. Have you kept all investments at 10%-15%?
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Post by nsiam on Mar 21, 2019 21:36:00 GMT
My amount queued is at 15% of my total amount invested, so I have withdrawn some. nsiam , you've heard this before, but if you could tell us lenders a little bit about how the queuing system works so that we have some idea of what we can reasonably expect, people would get less excited when we see fluctuations. We don't want your trade secrets, but we would like to know in general what influences the queue system so we can understand what is happening. If you give us more confidence, we will give you more support! The biggest weight affecting the queue position is the investment date. The older the investment the higher the priority. There are also other factors taken into account with less weight like return on investment and total investment. So if 2 investments are made at the same time, the one with lower return or less utilisation will take priority.
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number5
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Post by number5 on Mar 21, 2019 21:41:01 GMT
I see that now, next time I logged in I had been matched some more. I am 13% lent now That's something. Have you kept all investments at 10%-15%? You reckon that is pretty good? I still have more idle fund sitting in FS. If this speeds up, could be my new home for them. It is a combination of 9.5%-15% and 9%-15% However I did start at 10% but nothing matched. Saying that, having had a very brief look...most of them are above 10% matched.
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Post by Badly Drawn Stickman on Mar 21, 2019 21:54:21 GMT
Agreed @village Idiot, improvements are needed but there is little incentive for W to make them at the moment. I certainly have no plans to invest further as things are. Welendus has been operational for less than 15 months. During this short period, there has been a lot of updates and improvements. Our incentive is to offer lenders the best investment product possible. We have more updates coming soon. We are not settled yet. Is it really that difficult to solve the fundamental weakness, that funds cannot be moved between investments to enable sensible withdrawal of funds without having to sell an entire holding?
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paulb
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Post by paulb on Mar 21, 2019 22:32:08 GMT
The biggest weight affecting the queue position is the investment date. The older the investment the higher the priority. It's good to see confirmation on that - however, what about investments which have funds added to them - what date do you then use to determine their age - the date the investment was created, or the date it was last added to? Thanks, Paul.
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Post by df on Mar 21, 2019 22:37:00 GMT
That's something. Have you kept all investments at 10%-15%? You reckon that is pretty good? I still have more idle fund sitting in FS. If this speeds up, could be my new home for them. It is a combination of 9.5%-15% and 9%-15% However I did start at 10% but nothing matched. Saying that, having had a very brief look...most of them are above 10% matched. I don't know it it's good. I was investing from beginning and always drip feeding, so can't compare. Happened to me many times - as soon as I lower the rate the surplus get matched, but at higher rate than my minimum setting. I don't know any theory behind it, but turning rates down helped me to keep invested. I've hardly ever been in any serious queue. I don't mind lowering rates down to the minimum at the start of new investments because returns get reinvested much quicker, so my goal is to get the ball rolling asap.
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number5
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Post by number5 on Mar 21, 2019 22:39:51 GMT
You reckon that is pretty good? I still have more idle fund sitting in FS. If this speeds up, could be my new home for them. It is a combination of 9.5%-15% and 9%-15% However I did start at 10% but nothing matched. Saying that, having had a very brief look...most of them are above 10% matched. I don't know it it's good. I was investing from beginning and always drip feeding, so can't compare. Happened to me many times - as soon as I lower the rate the surplus get matched, but at higher rate than my minimum setting. I don't know any theory behind it, but turning rates down helped me to keep invested. I've hardly ever been in any serious queue. I don't mind lowering rates down to the minimum at the start of new investments because returns get reinvested much quicker, so my goal is to get the ball rolling asap. Returns gwt invested much quicker?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 21, 2019 23:36:04 GMT
The biggest weight affecting the queue position is the investment date. The older the investment the higher the priority. It's good to see confirmation on that - however, what about investments which have funds added to them - what date do you then use to determine their age - the date the investment was created, or the date it was last added to? Thanks, Paul. On my experience the original date as funds added to my original investment are lent out long before funds added to a later investment at the same time. (All other parameters same)
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michaelc
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Post by michaelc on Mar 22, 2019 0:48:18 GMT
nsiam I'm glad you found the time to answer others' questions but you skillfully ducked mine. Is it correct I currently have around £10,000 earning nothing which I'm also unable to withdraw? That is around half my total investment in the platform.
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