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Post by df on Oct 6, 2019 17:11:48 GMT
I deposited some money on the 3rd. Is early November realistic for matching? I've deposited some money on 5th Sept - not yet matched. Based on this, estimated matching time is more than 1 months atm. I'll give it another month to see what happens with this deposit, but won't transfer any more in until supply/demand situation is resolved and stays consistent for at least few months.
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Post by Ace on Oct 6, 2019 17:35:31 GMT
I find LW's estimated matching times a little bit sneaky. They always quote them in multiples of 7, which leads one to assume it's measured in weeks, but they state that they are measured in business days, so the current 21 day estimate is actually a calendar month rather than 3 weeks.
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dovap
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Post by dovap on Oct 7, 2019 8:59:23 GMT
Still unmatched from 29/08
so somewhat in excess of the 21 day estimate
pita
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jlend
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Post by jlend on Oct 7, 2019 9:02:40 GMT
I am assuming lending times on the Growth product will remain high or even increase.
I expect they will always prioritise lending via the new flex product in order to enable increased contributions to the Shield.
I can't see that changing any time soon. They could probably reduce the rate on the growth product at the moment.
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Post by davidspindle on Oct 7, 2019 13:16:37 GMT
I manage seven accounts for family members. Some of these are drip-feeding repayments in Classic accounts into ISA accounts on almost every weekday, so I have a good view of matching times for New offers in the Growth market. The oldest New offer is of funds credited on 23 August. Re-investment takes precedence over New offers. The oldest re-investment offer is 1 October, although there are far fewer of these than New offers, so the difference in matching times may not be so great as these dates suggests.
When inward transfers of ISAs are made the funds are differentiated as 'previous year'. It is not yet clear to me whether that puts them in a different part of the queue than current year funds, but I suspect it does not.
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mickj
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Post by mickj on Oct 7, 2019 17:21:28 GMT
Deposit dated 5th September obviously still waiting, I am sure it was showing 7 to 14 days when deposit was made. Now growth is suggested 21 to 28 days wait.
I think that nice graph (portfolio projection) needs a flat area for the first month.
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Post by redpete on Oct 7, 2019 21:08:33 GMT
£1000 in the Growth queue since 27th August. That's 28 banking days - the top end of the current 'estimate' and way over the 14-21 days that's been shown for most of the last month.
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tyrex
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Post by tyrex on Oct 9, 2019 12:39:25 GMT
Suspect the changes at RS might be responsible for the lengthy wait at the moment. On that basis, I'm probably not helping matters either.
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trium
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Post by trium on Oct 9, 2019 13:18:46 GMT
Having just read this entire thread it's clear that the issue of lengthy matching times has never really gone away. It's also clear that most people do not want to see lending standards decline just to shorten queues and what causes much of the frustration is the fact that actual matching times are poorly reflected in the estimates displayed on the site. I put my offer up on 9 September - 1 month today. At the time the indication was 7-14 days. Now it's 21-28 days. I might not have chosen to join that queue but for the completely misleading estimates. I don't understand why platforms have such a problem with transparency. Several posters have bemoaned the removal of queue position visibility (Zopa did that years ago), the re-introduction of which would alleviate much frustration and allow lenders to make better informed decisions. This is something that Matthew promised to look into last March. Or why not take a lead from forum posters who compare notes on whether or not they've been matched yet in order to get a feel for where current matches are taking place? Just display on the site the offer date of the most recent "new money" match and don't bother with fancy algorithms which try to predict the future. Simple! |
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keystone
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Post by keystone on Oct 11, 2019 14:40:32 GMT
Still waiting for my new investments from 24th August to match. Has anyone had any matches since mid August? Could LW be in trouble? The times article mentioned a platform about to go into administration. Warning letters being sent from the FCA, platforms putting profits ahead of risks, changing of products without adequate information to customers. No information about the delays coming from LW. Getting a little concerned now Matthew. |
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benaj
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Post by benaj on Oct 11, 2019 15:00:48 GMT
My latest reinvestment took 2 days to be matched. Offered on 9th Oct, matched on the 11th Oct.
I don't think LW is in trouble, lent over £10mil in the past 70 days, but it will take some time to clear the queue. We just don't know how long the current queue is. A new investment queue of £6mil would probably take longer than 28 working days for the Growth product.
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Post by propman on Oct 11, 2019 15:57:36 GMT
Still waiting for my new investments from 24th August to match. Has anyone had any matches since mid August? Could LW be in trouble? The times article mentioned a platform about to go into administration. Warning letters being sent from the FCA, platforms putting profits ahead of risks, changing of products without adequate information to customers. No information about the delays coming from LW. Getting a little concerned now Matthew . My oldest unmatched offer is from 27 August, received money on 26/8 that should have gone into an offer that day that seems to have been matched now. I have made a number of loans from recycling, but last loan from "New money" was made on 23/9.
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dovap
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Post by dovap on Oct 14, 2019 8:23:19 GMT
29/08 - still not matched
small reinvestments taking at least a week
Zzzz
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benaj
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Post by benaj on Oct 14, 2019 8:30:08 GMT
I am happy to lend on the Flexible product now and observe the Growth market.
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ashtondav
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Post by ashtondav on Oct 14, 2019 9:09:14 GMT
Yep the queue at Growth will forever grow. Best view LW as a 5% product now and go for Flex. Why would LW use growth money?
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