benaj
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Post by benaj on Sept 17, 2019 12:36:38 GMT
My first impression of selling loans on LW
1) only 1 selling queue a time
2) no idea which loan chunk(s) is (/ are) being sold
3) cannot be cancelled
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Post by Ace on Sept 17, 2019 15:28:37 GMT
I had assumed that a sale would be instantaneous given the 2 .. 3 week buying queue!
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benaj
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Post by benaj on Sept 17, 2019 15:52:23 GMT
After some investigation, this is what I find:
1) The algorithm will pick Loan chunk acquired most recently which earned interest to be sold first
2) If more than one loan acquired on the same date, it will pick loan chunk with the lowest Chunk ID first
3) Current selling time is less than 2 hours on weekdays.
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macq
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Post by macq on Sept 22, 2019 9:24:59 GMT
Just wondering has anybody moved from flexible to growth yet and then added money?
I had a small amount in flex due to clicking the wrong setting at the start but have just moved it to growth a few minutes ago by selling.As part of the transaction i saw the box that said if selling from flex no new money can be matched for 28 days.In my Sunday brain i assumed (but was ok with) that they were talking only about the sum i was selling & reinvesting.The reinvestment is given a date starting next month which makes sense
But i am now not so sure - as i also had a couple of pounds in the re-investments waiting to grow to £10 i cancelled that as well,i then added this to the growth product only to see it rollover with the reinvestment at next months date and not form a separate deal
So are LW really saying Once you make a sell in flex you can add but not match no money for a month or if you do it sits there plus when the date goes live you may wait another 3 or 4 weeks in the queue? Understand not matching a sell but all money surely not (seem to remember that RS let you sell from rolling but only add to 1 or 5 year for a month which makes sense)
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benaj
Member of DD Central
Posts: 4,862
Likes: 1,591
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Post by benaj on Sept 22, 2019 10:36:27 GMT
Just wondering has anybody moved from flexible to growth yet and then added money? I had a small amount in flex due to clicking the wrong setting at the start but have just moved it to growth a few minutes ago by selling.As part of the transaction i saw the box that said if selling from flex no new money can be matched for 28 days.In my Sunday brain i assumed (but was ok with) that they were talking only about the sum i was selling & reinvesting.The reinvestment is given a date starting next month which makes sense But i am now not so sure - as i also had a couple of pounds in the re-investments waiting to grow to £10 i cancelled that as well,i then added this to the growth product only to see it rollover with the reinvestment at next months date and not form a separate deal So are LW really saying Once you make a sell in flex you can add but not match no money for a month or if you do it sits there plus when the date goes live you may wait another 3 or 4 weeks in the queue? Understand not matching a sell but all money surely not (seem to remember that RS let you sell from rolling but only add to 1 or 5 year for a month which makes sense) Once the selling started, it cannot be cancelled until the loans are sold. I have started the same thing a few days ago. Sold 1 Flexible loan chunk on weekday, then manually added offer in the Growth. I hope LW will find a way to shorten the queue, otherwise at least 14-21 working days queue.
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macq
Member of DD Central
Posts: 1,924
Likes: 1,192
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Post by macq on Sept 22, 2019 11:15:12 GMT
Just wondering has anybody moved from flexible to growth yet and then added money? I had a small amount in flex due to clicking the wrong setting at the start but have just moved it to growth a few minutes ago by selling.As part of the transaction i saw the box that said if selling from flex no new money can be matched for 28 days.In my Sunday brain i assumed (but was ok with) that they were talking only about the sum i was selling & reinvesting.The reinvestment is given a date starting next month which makes sense But i am now not so sure - as i also had a couple of pounds in the re-investments waiting to grow to £10 i cancelled that as well,i then added this to the growth product only to see it rollover with the reinvestment at next months date and not form a separate deal So are LW really saying Once you make a sell in flex you can add but not match no money for a month or if you do it sits there plus when the date goes live you may wait another 3 or 4 weeks in the queue? Understand not matching a sell but all money surely not (seem to remember that RS let you sell from rolling but only add to 1 or 5 year for a month which makes sense) Once the selling started, it cannot be cancelled until the loans are sold. I have started the same thing a few days ago. Sold 1 Flexible loan chunk on weekday, then manually added offer in the Growth. I hope LW will find a way to shorten the queue, otherwise at least 14-21 working days queue. i was ok with the flex sell having to wait a month so as to stop people gaming the system on rate changes (bit surprised that it counts when moving to growth)And to be fair Once you know the rule you could if you had the money spare outside LW pay it in first as new money then do as a withdrawal rather then reinvest and not wait the month At the end of the day i was given the date of 20 Oct when the money can be invested (plus another 21 days wait from there i guess?) which is fine as that sorta makes sense.But if i have now understood it better it means say i put money in next week it can't join the queue till the 20th and then waits the normal 21 days or is it at the front of the queue at that point with no extra 21 days? because if so there's less incentive to put new money with LW during that time
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