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Post by geofft on Sept 17, 2019 12:09:29 GMT
I notice the 5 year market has crept up to 14-21 days, or almost a calendar month. It always seems to happen at the far end of the estimate so expect to wait a month for new cash to be allocated. My dodgy maths tells me that's a £50+ hit on a £10k investment, so not an insignificant amount.
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benaj
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Post by benaj on Sept 17, 2019 12:20:49 GMT
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trium
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Post by trium on Sept 17, 2019 22:16:59 GMT
Not as bad as FO (WLU)
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jlend
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Post by jlend on Sept 18, 2019 13:16:46 GMT
I notice the 5 year market has crept up to 14-21 days, or almost a calendar month. It always seems to happen at the far end of the estimate so expect to wait a month for new cash to be allocated. My dodgy maths tells me that's a £50+ hit on a £10k investment, so not an insignificant amount. Given the lower lender rate in the Flex product, am not surprised that the Growth product has a longer lead time. The Flex product is 1 to 7 days. There is some logic in them preferring to lend via the Flex product to increase their margin to pay for Higher PF contributions Operating costs Investing in the business Profit in the future Etc. Am not surprised at the different queue lengths.
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Post by geofft on Sept 18, 2019 14:38:46 GMT
I notice the 5 year market has crept up to 14-21 days, or almost a calendar month. It always seems to happen at the far end of the estimate so expect to wait a month for new cash to be allocated. My dodgy maths tells me that's a £50+ hit on a £10k investment, so not an insignificant amount. Given the lower lender rate in the Flex product, am not surprised that the Growth product has a longer lead time. The Flex product is 1 to 7 days. There is some logic in them preferring to lend via the Flex product to increase their margin to pay for Higher PF contributions Operating costs Investing in the business Profit in the future Etc. Am not surprised at the different queue lengths. My comment was just an observation really, the increased queue length doesn't unduly bother me. I've seen the 5yr (growth) market up at these sort of levels (and beyond) before and subsequently drop down again. I presume this is the normal supply/demand, lender/borrower ratio effect, but I suspect that LW have a means to intervene if the queue length becomes embarrassing. I guess more investors are beginning to realise that LW is one of the more attractive options amongst the plethora of P2P offerings and more money is piling in - maybe we should be telling them what a dreadful, risky option it really is and they should take their money elsewhere...:-)
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mikeh
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Post by mikeh on Sept 18, 2019 14:56:33 GMT
I'm new to LW. Made my first Growth offer on 23/08/19. Not a nibble yet. That's 26 days.
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Post by df on Sept 18, 2019 21:51:59 GMT
I'm new to LW. Made my first Growth offer on 23/08/19. Not a nibble yet. That's 26 days. That's long! I've put my last offer in 13 days ago, estimated time was 7-14 days then, but obviously not... I recall this happened in the past and then went back to normal 7-10 days. Probably LW is a bit low on borrowers atm. I'm not too worried about cash drag because my intention on LW is a long term investment.
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trium
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Post by trium on Sept 19, 2019 1:38:43 GMT
I joined 9 Sept and split my initial investment 50/50. The Flexi offer was filled same day (5 loans) but the Growth has yet to see action (it was showing 7-14 days at the time). Not bothered though - a small platform must have a difficult time keeping a balance
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jlend
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Post by jlend on Sept 19, 2019 8:10:29 GMT
I'm new to LW. Made my first Growth offer on 23/08/19. Not a nibble yet. That's 26 days. That's long! I've put my last offer in 13 days ago, estimated time was 7-14 days then, but obviously not... I recall this happened in the past and then went back to normal 7-10 days. Probably LW is a bit low on borrowers atm. I'm not too worried about cash drag because my intention on LW is a long term investment. Interesting. Since the induction of the new products I am expecting the queue on the Flexi product to be materially shorter than the Growth product from now on. Am expecting LW to want to minimise the amount of money lent on the Growth product where possible.
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Post by Ace on Sept 19, 2019 10:25:35 GMT
I must admit that I hadn't really thought this effect of the new account structure through, but you're absolutely right. It makes sense for LW that they allow all new Flexi investments to jump the queue ahead of all waiting Growth investments.
There's nothing wrong with this if that's how LW wish to operate, but they really ought to spell this out on their website / in their terms.
I would like LW to respond to let us know whether this queue jumping also applies to reinvestment in growth, I.e. The investment of interest and capital repayments. Or indeed, to put me straight if this is not what is happening.
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jlend
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Post by jlend on Sept 19, 2019 12:25:26 GMT
I must admit that I hadn't really thought this effect of the new account structure through, but you're absolutely right. It makes sense for LW that they allow all new Flexi investments to jump the queue ahead of all waiting Growth investments. There's nothing wrong with this if that's how LW wish to operate, but they really ought to spell this out on their website / in their terms. I would like LW to respond to let us know whether this queue jumping also applies to reinvestment in growth, I.e. The investment of interest and capital repayments. Or indeed, to put me straight if this is not what is happening. I think there are two queues on LW. I don't think they they are linked in any way so not sure queue jumping is quite correct although I know what you mean. At the moment there are separate queues in RS also, although the upcoming changes will mean 3 of the RS products share a single queue. I actually hope LW are lending via the Flex queue in preference to the Growth queue so they have more margin to put into the PF which is not as well funded as is has been due to defaults.
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Post by propman on Sept 19, 2019 12:34:32 GMT
My last loan of new funds was from an offer on 21 August that was lent on 3 September, 9 banking days to lend. I made an offer on 22/8 that is unmatched 19 banking days later.
I don't think that lending fully from the Flexible product does make sense. Yes it gives them funds 1.5% cheaper, but it may also give them liquidity issues as this is more likely to be withdrawn.
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jlend
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Post by jlend on Sept 19, 2019 12:52:40 GMT
My last loan of new funds was from an offer on 21 August that was lent on 3 September, 9 banking days to lend. I made an offer on 22/8 that is unmatched 19 banking days later.
I don't think that lending fully from the Flexible product does make sense. Yes it gives them funds 1.5% cheaper, but it may also give them liquidity issues as this is more likely to be withdrawn. It is a fair challenge. For liquidity they can always use the Growth queue if needed in the future. At the moment they don't have a liquity issue but do need to increase their PF contributions to cover the forecast defaults even on the existing loan book.
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ashtondav
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Post by ashtondav on Oct 6, 2019 7:34:19 GMT
I deposited some money on the 3rd. Is early November realistic for matching?
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blink
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Post by blink on Oct 6, 2019 14:39:32 GMT
I deposited some money on the 3rd. Is early November realistic for matching? I have money sitting in my ISA growth account that I have reinvested from my classic account since 25/8/19 Not sure how many business days that is, but probably more than 21. I am running down my classic account and trying to place money in the ISA, but based on this I have been withdrawing from my classic account to my bank account.
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