benaj
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Post by benaj on Feb 8, 2019 15:55:46 GMT
I deposited money yesterday, all lent out from just one investment, but still have 13% unallocated cash from reinvestment over 20 days old. The algorithm is just unpredictable, when seeing some investors can easily have 3 or more investments into single loan. Can't wait for the next big wave to clear the investment queue.
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michaelc
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Post by michaelc on Feb 8, 2019 17:53:27 GMT
Around 25% queued here.
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markyg61
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Post by markyg61 on Feb 8, 2019 20:35:56 GMT
25% queued and increasing daily - nothing loaned out since 26th January.
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nick
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Post by nick on Feb 8, 2019 20:47:20 GMT
25% queued and increasing daily - nothing loaned out since 26th January. I feel your pain! I'm at 30% and rising - nothing loaned out since 26 January. Very frustrating!
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Post by Proptechfish on Feb 8, 2019 23:54:44 GMT
Woohoo! First new loan assignment in 14 days, maybe they were listening to me moaning...
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Post by gravitykillz on Feb 9, 2019 6:31:52 GMT
Loaned out £250 to test the site £5.46 in the queue. Not that bad i guess
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Godanubis
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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 Feb 9, 2019 10:56:11 GMT
£5000 gone in 15 days
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Post by sharpe on Feb 9, 2019 12:31:48 GMT
20% stuck in the investment queue after early repayments. I suspect this was caused when I adjusted some existing investments, it's either put them at the back of the queue (which I doubt considering how long they've been there) or they're stuck in perpituity like previously stated issues.
As there is no ability to withdraw/split queued funds in existing investments without pulling the whole investment I'm just going to withdraw everything after the next PF payment. There's just too many niggles with the service, which is a shame. Given the long standing problems and requests yet to be introduced/sorted plus the customer services concerns I have little faith these will be sorted in a reasonable time frame. The team tasked with designing the website and backend systems needs bit of a talking to that's for sure.
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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 Feb 9, 2019 13:00:54 GMT
The hamster awakes
Most of my queued money incl all new funds invested overnight/this morning, now down to less than 2% queued (plus a little more Ive justed added) so cash drag turned out to be less than 3 days in total.
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Post by Ace on Feb 9, 2019 14:04:18 GMT
It's still sleeping for me!
I have an investment with over 20% free cash that hasn't picked up a loan in 18 days. It has a fairly wide gate at 9.5 to 15%, so seems unfair that new cash gets invested ahead of it.
Come on Welendus, it's time you sorted the allocation algorithm out. You're already losing investors because of it.
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Ukmikk
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Post by Ukmikk on Feb 9, 2019 18:24:01 GMT
My recent (end Dec/beginning Jan) investments are currently 22% queued cash, with last new loan 16 days ago. Widening the rates range has had no effect. Its looking to me like new investments are put at the front of the queue and invested quickly, but it's reinvestments that are then put in a queue and allocated in order of the original investment date. This explains why; - new money is quickly invested but then seems to grind to a halt when the repayments come in. - older investments remain fully invested with very little if any queued cash (my older trial investments are rarely below 99% invested) This is a bit back-to-front compared to other sites where new money waits at the back of the queue (eg. LW). This may have been done so as not to discourage new lenders but then only leads to frustration when repayments do not get reinvested. However, because you have to withdraw the entire holding of an individual investment lenders are less likely to withdraw cash, or if funds are in an IFISA account, so the site retains a balance of cash to service new loans, which is beneficial to Welendus. Demand for loans was high in the run up to Christmas, hence the emails encouraging lenders to deposit cash - I was one of those who responded and was encouraged by the rapid take-up of cash into loans. However, post-christmas demand appears to have dropped off and we are seeing long queue times for reinvestments. While I can understand the rational for older reinvestments being allocated before newer ones, I do not think it is fair to existing lenders to place new money at the head of the investment queue (sorry Godanubis ) and suggest this policy is changed. Tagging nsiam for comment.
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Post by Proptechfish on Feb 9, 2019 18:43:29 GMT
My recent (end Dec/beginning Jan) investments are currently 22% queued cash, with last new loan 16 days ago. Widening the rates range has had no effect. Its looking to me like new investments are put at the front of the queue and invested quickly, but it's reinvestments that are then put in a queue and allocated in order of the original investment date. This explains why; - new money is quickly invested but then seems to grind to a halt when the repayments come in. - older investments remain fully invested with very little if any queued cash (my older trial investments are rarely below 99% invested) This is a bit back-to-front compared to other sites where new money waits at the back of the queue (eg. LW). This may have been done so as not to discourage new lenders but then only leads to frustration when repayments do not get reinvested. However, because you have to withdraw the entire holding of an individual investment lenders are less likely to withdraw cash, or if funds are in an IFISA account, so the site retains a balance of cash to service new loans, which is beneficial to Welendus. Demand for loans was high in the run up to Christmas, hence the emails encouraging lenders to deposit cash - I was one of those who responded and was encouraged by the rapid take-up of cash into loans. However, post-christmas demand appears to have dropped off and we are seeing long queue times for reinvestments. While I can understand the rational for older reinvestments being allocated before newer ones, I do not think it is fair to existing lenders to place new money at the head of the investment queue (sorry Godanubis ) and suggest this policy is changed. Tagging nsiam for comment. This essentially echos what I said earlier. I calculated recently that the live loan book is potentially around £800k, if a big hitter drops in £100k thats 12.5% of the entire live loan book which would cause a substantial distortion to the majority of lenders. Given that the WLU loan book is still relatively tiny coupled with one of the most attractive potential rates currently on the market, I would be happy to see the introduction of deposit limits, to prevent this happening in future. Say £5000 a month, high enough to negate downward pressure of fund flow to the platform but low enough to prevent £10s of thousands being deposited and dominating the loan book. Given that WLU make a big deal of the democratisation aspect of P2P lending through their platform, this seems to me to be a substantial own goal. Edit: Just checked my account and my queue has been sucked up, every penny. Good to see things seem to be returning to normality but I still think changes need to made going forward to make it fairer for everyone.
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benaj
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Post by benaj on Feb 9, 2019 18:56:44 GMT
There's definitely some activities in the borrower's demand, and it's definitely worth waiting to see what Welendus can offer to investors. At the moment, it's too early to think about how this W loan book to grow. It needs to grow but it's going to be a challenge. It's definitely not fit for £1 Mil monthly reinvestment yet. Most of us are still waiting higher volume of borrower's demand and I hope it's not too long to clear the investment queue. I think it would be unrealistic to think Welendus loan book could grow like this MSE article in just 7 years, more than US national debt. I got a feeling some borrowers need money for this weekend or next week. Let's wait and see how the demand changes in the middle of the month.
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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 Feb 9, 2019 20:08:08 GMT
All invested except some shrapnel.
Not investing in the same pattern as others though. New cash investing behind repayments on existing investments usually, except yesterday where the later two old investments seem to have fallen behind the new cash.
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Post by Proptechfish on Feb 9, 2019 20:08:25 GMT
There's definitely some activities in the borrower's demand, and it's definitely worth waiting to see what Welendus can offer to investors. At the moment, it's too early to think about how this W loan book to grow. It needs to grow but it's going to be a challenge. It's definitely not fit for £1 Mil monthly reinvestment yet. Most of us are still waiting higher volume of borrower's demand and I hope it's not too long to clear the investment queue. I think it would be unrealistic to think Welendus loan book could grow like this MSE article in just 7 years, more than US national debt. I got a feeling some borrowers need money for this weekend or next week. Let's wait and see how the demand changes in the middle of the month. I'm not sure the relevance of that article, as it clearly states it's a whimsical hypothetical that wouldn't actually happen in reality. I certainly wouldn't compare WLU with said predatory lender either. While the WLU model has similarities to the other company, the WLU rate is substantially lower, they are also post regulation reform, their charges are capped to the term and they provide a decent return to retail investors at the same time. I also don't believe any sensible lender is advocating loan book growth through unaffordable and ruthless compound charges. On the whole I quite like what WLU are offering and trying to deliver. I wouldn't have touched that other company with 10 foot barge pole, a soulless, greedy vicious debt creating machine.
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