zlb
Member of DD Central
Posts: 1,414
Likes: 332
|
Post by zlb on May 7, 2019 20:17:09 GMT
Interestingly I decided to take a look at how many investments would meet your criteria and out of about 160 ( I break them into small investments!), only 6 of them have more than 50%. But my overall main account cash drag is now 17.5%. and it has been 2 weeks since I have had a loan matched. Overall it doesn't seem too bad, but I do have funds just sitting there, but largely the cash drag is smaller % across all my investments as opposed to any specific age. Bit of a dilemma, not sure whether to withdraw or sit tight It's a difficult decision to make without knowing the reason and what WLU is planing to do to resolve this situation (if anything). Despite 17.5% cash drag you are still getting decent overall return. The problem is - you don't know when your 17.5% is going to be lent. As far as I can see, mine and others' cash drag keeps growing and there is no indication of reverse motion. I have to base my strategy on guess work. I think introduction of IFISA and general growth of investors' attentiveness brought a lot of cash to the platform. This oversupply is not matching borrowers demand. It is also hard to say whether any new lending is taking place. My older investments are doing fine - reinvestments are getting matched within 1 day at 10%+ rate. The more recent ones are stuck - returns are simply not getting lent at any rate. I might be wrong, but it seems to me that cash drag is going to grow on these - so I will be withdrawing investments when they reach 50%-60% of cash drag instead of waiting for 100%. Well I was hoping it was ISA deposit as you speculate - there's no shame in a newer platform saying that this is what is going on though. Who's getting @myneil 's loans? Not me. 5 months invested and 40% queued. Is there something that the algorithm wasn't stress tested for?
|
|
|
Post by df on May 8, 2019 7:21:17 GMT
I originally had 28 investments (now 27), so some of them had no bonuses last month. May PF bonus covers interest from Acquisition in April, so you have new investments in April that haven't had loans acquired by PF yet? You can download Investment details in the Annual Summary (under analytics). The CSV file contains all the investments created and additional earning information annually. Thank you. Yes, CSV shows PF distribution very clearly. The answer to Ace question is - No, I didn't get PF bonus for withdrawn investment.
|
|
|
Post by df on May 8, 2019 7:32:36 GMT
It's a difficult decision to make without knowing the reason and what WLU is planing to do to resolve this situation (if anything). Despite 17.5% cash drag you are still getting decent overall return. The problem is - you don't know when your 17.5% is going to be lent. As far as I can see, mine and others' cash drag keeps growing and there is no indication of reverse motion. I have to base my strategy on guess work. I think introduction of IFISA and general growth of investors' attentiveness brought a lot of cash to the platform. This oversupply is not matching borrowers demand. It is also hard to say whether any new lending is taking place. My older investments are doing fine - reinvestments are getting matched within 1 day at 10%+ rate. The more recent ones are stuck - returns are simply not getting lent at any rate. I might be wrong, but it seems to me that cash drag is going to grow on these - so I will be withdrawing investments when they reach 50%-60% of cash drag instead of waiting for 100%. Well I was hoping it was ISA deposit as you speculate - there's no shame in a newer platform saying that this is what is going on though. Who's getting @myneil 's loans? Not me. 5 months invested and 40% queued.Is there something that the algorithm wasn't stress tested for? I'm getting them on my old investments. I've assigned my PF bonus to one of the old ones yesterday and the sum was lent by this morning @12.5%. All my 5 months and younger investments are stuck.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on May 8, 2019 8:19:23 GMT
Well I was hoping it was ISA deposit as you speculate - there's no shame in a newer platform saying that this is what is going on though. Who's getting @myneil 's loans? Not me. 5 months invested and 40% queued.Is there something that the algorithm wasn't stress tested for? I'm getting them on my old investments. I've assigned my PF bonus to one of the old ones yesterday and the sum was lent by this morning @12.5%. All my 5 months and younger investments are stuck. Sounds like I have no hope of getting any of my funds lent out, they are all only a couple of months old. Still nothing matched for 2 weeks
|
|
benaj
Member of DD Central
Posts: 4,911
Likes: 1,612
|
Post by benaj on May 8, 2019 9:17:16 GMT
I'm getting them on my old investments. I've assigned my PF bonus to one of the old ones yesterday and the sum was lent by this morning @12.5%. All my 5 months and younger investments are stuck. Sounds like I have no hope of getting any of my funds lent out, they are all only a couple of months old. Still nothing matched for 2 weeks My ISA started in April have 11% cash lent out. My IFISA account acquired new loans 4 days ago and I only started small to see how WLU grow. It's only been a month since the new tax year and the whole p2p sector is flooded with new money. I will review my ISA investment in 3 months and see how much have been lent out and how much have been repaid before deciding.
|
|
zlb
Member of DD Central
Posts: 1,414
Likes: 332
|
Post by zlb on May 8, 2019 9:27:27 GMT
I hope that excess cash investments don't lead to poor and rushed loan structures when developing the business. Does WLU have the legal side on its team, that say, LP has? Especially if it's moving into business internationally.
|
|
benaj
Member of DD Central
Posts: 4,911
Likes: 1,612
|
Post by benaj on May 8, 2019 10:09:32 GMT
I hope that excess cash investments don't lead to poor and rushed loan structures when developing the business. Does WLU have the legal side on its team, that say, LP has? Especially if it's moving into business internationally. I think the WLU team has expanded quite a bit recently compared to 2018.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on May 8, 2019 11:54:00 GMT
Sounds like I have no hope of getting any of my funds lent out, they are all only a couple of months old. Still nothing matched for 2 weeks My ISA started in April have 11% cash lent out. My IFISA account acquired new loans 4 days ago and I only started small to see how WLU grow. It's only been a month since the new tax year and the whole p2p sector is flooded with new money. I will review my ISA investment in 3 months and see how much have been lent out and how much have been repaid before deciding. My ISA account has been even slower than my Main account. I regret opening my ISA on WLU now...would have used on AC otherwise. Hoping by the end of the FY, things sort out and my full allowance is lent sooner than later.
|
|
|
Post by df on May 8, 2019 14:37:19 GMT
I hope that excess cash investments don't lead to poor and rushed loan structures when developing the business. Does WLU have the legal side on its team, that say, LP has? Especially if it's moving into business internationally. Doesn't look like it, if there was a "loan flood" we would've already seen idle cash being lent. However, I've no idea what's the total amount of recent deposits, but it may be overloaded to the point that even relaxed borrowing criteria won't solve cash drag (majority of loans are very small).
|
|
zlb
Member of DD Central
Posts: 1,414
Likes: 332
|
Post by zlb on May 8, 2019 17:52:09 GMT
My ISA started in April have 11% cash lent out. My IFISA account acquired new loans 4 days ago and I only started small to see how WLU grow. It's only been a month since the new tax year and the whole p2p sector is flooded with new money. I will review my ISA investment in 3 months and see how much have been lent out and how much have been repaid before deciding. My ISA account has been even slower than my Main account. I regret opening my ISA on WLU now...would have used on AC otherwise. Hoping by the end of the FY, things sort out and my full allowance is lent sooner than later. You can open a different IFISA in the same year and transfer it all - just not part of the investment. You can't add this year's allowance to more than one ISA of each type, but you can move this year's around as long as it is all in one block. I don't know how it works if one already has previous ISA money in a platform and add this year's allowance to that.
|
|
zlb
Member of DD Central
Posts: 1,414
Likes: 332
|
Post by zlb on May 8, 2019 18:06:05 GMT
I hope that excess cash investments don't lead to poor and rushed loan structures when developing the business. Does WLU have the legal side on its team, that say, LP has? Especially if it's moving into business internationally. Doesn't look like it, if there was a "loan flood" we would've already seen idle cash being lent. However, I've no idea what's the total amount of recent deposits, but it may be overloaded to the point that even relaxed borrowing criteria won't solve cash drag (majority of loans are very small). Possibly. No financials known by 4thWay, or others? Last appearance on twitter 04/03/19. There are a huge amount of short term loan websites. WLU don't come in first 3 pages of search. There are some cute names. Shame they didn't ask here for new name suggestions, as it's not easy trying to differentiate it as 'from the people' 'to the people', within its name.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on May 8, 2019 18:06:40 GMT
My ISA account has been even slower than my Main account. I regret opening my ISA on WLU now...would have used on AC otherwise. Hoping by the end of the FY, things sort out and my full allowance is lent sooner than later. You can open a different IFISA in the same year and transfer it all - just not part of the investment. You can't add this year's allowance to more than one ISA of each type, but you can move this year's around as long as it is all in one block. I don't know how it works if one already has previous ISA money in a platform and add this year's allowance to that. It may be something I will have to consider. At the moment I only have this years allowance on WLU but I will give it a little bit more time
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,906
Likes: 11,127
|
Post by ilmoro on May 8, 2019 18:20:29 GMT
My ISA account has been even slower than my Main account. I regret opening my ISA on WLU now...would have used on AC otherwise. Hoping by the end of the FY, things sort out and my full allowance is lent sooner than later. You can open a different IFISA in the same year and transfer it all - just not part of the investment. You can't add this year's allowance to more than one ISA of each type, but you can move this year's around as long as it is all in one block. I don't know how it works if one already has previous ISA money in a platform and add this year's allowance to that. The platform works it out
If the investor has requested that the current year account be transferred, and that account can be identified, the whole of the current year account must be transferred. If the investor has requested that the current year account be transferred, but that account cannot be identified, it may be regarded as cash and investments whose total value is anywhere between two limits. The two limits are:
the total amount subscribed in the current year plus a reasonable apportionment of any income arising on that subscription (upper limit) the total amount subscribed in the year less withdrawals in the year, (lower limit). If the withdrawals exceed subscriptions the lower limit is £nil
If the total value of the cash and other investments held in the ISA are less than the lower limit, then all the cash and investments count as current year.
|
|
|
Post by df on May 9, 2019 15:38:56 GMT
Some belated news from Nadeem, e-mail 16:29 today:
"We are introducing new key features to the website which will lead to significant technical improvements and improve usability. Unfortunately, this has led to slower deployment and a longer queue during April and most of May, which you may have experienced as a lender. We expect the longer queue to last for most of this month (May) after which, deployment will rapidly pick up and the queue will start reducing as we get back to our normal pace with our usual quick deployment and good returns. So please bear with us as we develop these improvements."
|
|
michaelc
Member of DD Central
Posts: 4,920
Likes: 2,774
Member is Online
|
Post by michaelc on May 9, 2019 15:41:33 GMT
So the lender queue is long due to a technical issue ? Isn't it entirely dependent on the amount of money being requested by borrowers and the amount of money available from lenders?
For me this adds to the murkiness.
|
|