hendragon
Member of DD Central
Posts: 631
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Post by hendragon on Feb 27, 2018 12:16:01 GMT
I have just made a small deposit and will be dipping my toe in the water. Any forumites have advice for a new lender on this platform please? I have had a trawl through the threads here but could probably do with a little more help. My impression is that a number of experienced forumites think well of this site so far.
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Post by Butch Cassidy on Feb 28, 2018 14:38:13 GMT
The platform is still in the testing/development stage as yet & those of us who were early adopter are helping give feedback both via this forum & directly to hopeful help shape a better experience & iron out any significant problems before a more hard launch in the next few months. I have had a small lending position since before Xmas which started being lent out on 13th Jan & have subsequently topped up a further deposit all of which is now lent out. I have had my first round of full repayments with interest & experienced my first PF funded capital refund, all has gone quite smoothly so far & I am satisfied at the progress made (some more details on the other threads).
I only want small individual loans initially so target £100 max/interest band which leads normally to £10 allocations (some can be smaller depending on what others have already received) due to the way allocations work. Lending seems quite speedy at present, took 3 days from assignment to full allocation last week. So even if you only choose a couple of different rates & hold the remaining funds in reserve to assign later it shouldn't be long before you are fully invested. The full agreement details are available if you are interested (My analytics> loan summary >click on loan & see agreement) but tend to do what it says on the tin - usually in the range of £100-500 over 30-300+ days.
My only serious concern going forward is that the default rate may eventually prove higher than anticipated & that would put a significant challenge to the PF refund model but time will tell & we shall see by experience if the AI credit scoring algorithm, which selects borrowers is fit for purpose. Any how good luck with your experiment & you will find nsiam is always willing to engage either on here or direct via website should you have any questions or queries.
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hendragon
Member of DD Central
Posts: 631
Likes: 619
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Post by hendragon on Feb 28, 2018 16:41:28 GMT
thanks for the help
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Post by df on Mar 4, 2018 17:03:58 GMT
I have just made a small deposit and will be dipping my toe in the water. Any forumites have advice for a new lender on this platform please? I have had a trawl through the threads here but could probably do with a little more help. My impression is that a number of experienced forumites think well of this site so far. My experience with Welendus was positive so far. I've made my first investment on 19th Dec and was adding more cash since. At first lending was slow, as expected, but soon it normalised to 1-3 days for investment to be lent. Most of my latest deposits were invested on the same or next day. I've already earned few pennies from some loans and had two PF capital returns. It is still very early stage to make any serious conclusions, the platform needs more time to test and fine-tune the system, but I'm hopeful.
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xtab
Posts: 41
Likes: 34
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Post by xtab on Mar 5, 2018 18:19:21 GMT
The platform is still in the testing/development stage as yet & those of us who were early adopter are helping give feedback both via this forum & directly to hopeful help shape a better experience & iron out any significant problems before a more hard launch in the next few months. I have had a small lending position since before Xmas which started being lent out on 13th Jan & have subsequently topped up a further deposit all of which is now lent out. I have had my first round of full repayments with interest & experienced my first PF funded capital refund, all has gone quite smoothly so far & I am satisfied at the progress made (some more details on the other threads).
I only want small individual loans initially so target £100 max/interest band which leads normally to £10 allocations (some can be smaller depending on what others have already received) due to the way allocations work. Lending seems quite speedy at present, took 3 days from assignment to full allocation last week. So even if you only choose a couple of different rates & hold the remaining funds in reserve to assign later it shouldn't be long before you are fully invested. The full agreement details are available if you are interested (My analytics> loan summary >click on loan & see agreement) but tend to do what it says on the tin - usually in the range of £100-500 over 30-300+ days.
My only serious concern going forward is that the default rate may eventually prove higher than anticipated & that would put a significant challenge to the PF refund model but time will tell & we shall see by experience if the AI credit scoring algorithm, which selects borrowers is fit for purpose. Any how good luck with your experiment & you will find nsiam is always willing to engage either on here or direct via website should you have any questions or queries. Decided to give this a punt and deposited the minimum via debit card to see what's on there. I sincerely hope they do better than their deposit confirmation message of "Your payment is done. It may take up to 7 working days for us to receive the funds and we will confirm as soon as we receive it." Debit card - 7 days clearance?? I assume they're just covering themselves for a worst, worst, worse, even worse than that case scenario!
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Post by sayyestocress on Mar 5, 2018 19:18:42 GMT
The platform is still in the testing/development stage as yet & those of us who were early adopter are helping give feedback both via this forum & directly to hopeful help shape a better experience & iron out any significant problems before a more hard launch in the next few months. I have had a small lending position since before Xmas which started being lent out on 13th Jan & have subsequently topped up a further deposit all of which is now lent out. I have had my first round of full repayments with interest & experienced my first PF funded capital refund, all has gone quite smoothly so far & I am satisfied at the progress made (some more details on the other threads).
I only want small individual loans initially so target £100 max/interest band which leads normally to £10 allocations (some can be smaller depending on what others have already received) due to the way allocations work. Lending seems quite speedy at present, took 3 days from assignment to full allocation last week. So even if you only choose a couple of different rates & hold the remaining funds in reserve to assign later it shouldn't be long before you are fully invested. The full agreement details are available if you are interested (My analytics> loan summary >click on loan & see agreement) but tend to do what it says on the tin - usually in the range of £100-500 over 30-300+ days.
My only serious concern going forward is that the default rate may eventually prove higher than anticipated & that would put a significant challenge to the PF refund model but time will tell & we shall see by experience if the AI credit scoring algorithm, which selects borrowers is fit for purpose. Any how good luck with your experiment & you will find nsiam is always willing to engage either on here or direct via website should you have any questions or queries. Decided to give this a punt and deposited the minimum via debit card to see what's on there. I sincerely hope they do better than their deposit confirmation message of "Your payment is done. It may take up to 7 working days for us to receive the funds and we will confirm as soon as we receive it." Debit card - 7 days clearance?? I assume they're just covering themselves for a worst, worst, worse, even worse than that case scenario! It was that bad originally but they changed payment provider early on and it's much better than that now.
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Post by Proptechfish on Mar 12, 2018 15:01:45 GMT
Stumbled across this thread, never heard of this 'Welendus'. So i'll sign up for an account and have a snoop around. SMS code done, email verification done, try and sign in, 'login failed', reset password try and log in, 'login failed'. Contact support, auto response, 'we aim to get back to you in 5 days'. 5 DAYS ! What are they using carrier pigeons. I get they are nice and shinny and new, but seriously is this a wind up ?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
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Post by ilmoro on Mar 12, 2018 15:39:15 GMT
Try opening up from fresh. I had the same because the original window was still open.
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Post by Proptechfish on Mar 12, 2018 15:45:22 GMT
Try opening up from fresh. I had the same because the original window was still open. Nope still failing
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
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Post by ilmoro on Mar 12, 2018 16:02:15 GMT
Try opening up from fresh. I had the same because the original window was still open. Nope still failing Clear cache? Delete any Welendus cookies? nsiam any thoughts?
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Post by nsiam on Mar 12, 2018 16:05:47 GMT
Clear cache? Delete any Welendus cookies? nsiam any thoughts? It's an unacceptable symbol in the password. I believe the issue is now resolved. We will list all symbols that should be avoided soon.
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Post by Proptechfish on Mar 12, 2018 16:07:53 GMT
Clear cache? Delete any Welendus cookies? nsiam any thoughts? It's cool i'm in, it appears symbols like '£' are not permitted for passwords, early days in website development means there is no prompt for this, so i have suggested a development for the future to avoid others having the same problem. As for the 5 days to respond to an email, 1 hour is much more like it
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greatmarko
Member of DD Central
Posts: 343
Likes: 373
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Post by greatmarko on Jul 20, 2018 17:27:27 GMT
...Lending seems quite speedy at present, took 3 days from assignment to full allocation last week.... ...At first lending was slow, as expected, but soon it normalised to 1-3 days for investment to be lent... Are you guys still seeing funds being invested within 3 days? I made my first deposit on the platform exactly 7 days ago, and so far none of it has been lent out - are there any published queue time/length statistics anywhere or can anyone share some up-to-date experience?
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Post by df on Jul 20, 2018 19:46:10 GMT
...Lending seems quite speedy at present, took 3 days from assignment to full allocation last week.... ...At first lending was slow, as expected, but soon it normalised to 1-3 days for investment to be lent... Are you guys still seeing funds being invested within 3 days? I made my first deposit on the platform exactly 7 days ago, and so far none of it has been lent out - are there any published queue time/length statistics anywhere or can anyone share some up-to-date experience? I was seeing funds being invested within 1-2 days until recently. I even added new investment because I watched things going well for a while. None of that investment was lent for 3 days, so I withdrew (have to say withdrawals are quick). Since about a week ago all my returns are piling up. I've opened the "sliding doors" for wide range of rates 6.5%-15%, but nothing gets lent. This suggests to me that Welendus is seriously struggling for borrowers, but there might be a better explanation? This cash drag is disappointing.
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Post by nsiam on Jul 20, 2018 20:48:18 GMT
That is correct.. We have slowed down the lending process in preparation for some very exciting releases and news very soon. More to follow on this.
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