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Post by propman on Oct 14, 2019 12:45:34 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? The reason for doing so is to reduce liquidity risk. If the majority of their loanbook is financed with funds available for repayment without a penalty, any hicough and they might quickly find themselves having to use the Growth queue to repay the flexible. Of course as long as the Growth funds are there, they can rebalance at will.
Conversely, it is in their interest to maintain the differential as people might well withdraw wholesale from flexible to relend growth if it looks like the growth queue is shortening a lot, so changing tack could be self fulfilling.
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Post by redpete on Oct 14, 2019 21:23:52 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. ...and finally matched today.
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ashtondav
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Post by ashtondav on Oct 15, 2019 7:35:51 GMT
Hmmm, so 35 working days. Frankly that is unacceptable and the reality is this is not a “6.5%” product with that degree of cash drag.
it is shameful that matching times have not been updated, when LW used to be quite open in their dialogue with lenders.
instead or the irrelevant tosh they email they ought to include, as Zopa does, “this weeks queue times”.
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dovap
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Post by dovap on Oct 15, 2019 8:21:57 GMT
29/08 - still not matched small reinvestments taking at least a week Zzzz and mostly matched at some point yesterday 47 calendar / 33 working days (I think)
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Post by propman on Oct 16, 2019 10:43:10 GMT
Hmmm, so 35 working days. Frankly that is unacceptable and the reality is this is not a “6.5%” product with that degree of cash drag. it is shameful that matching times have not been updated, when LW used to be quite open in their dialogue with lenders. instead or the irrelevant tosh they email they ought to include, as Zopa does, “this weeks queue times”. the queuing times are estimates for offers made today assuming nothing unexpected happens. In the last 2 days I have had offers 8 days apart matched, so probably quite a bit of the queue. Earliest unmatched offer now 30 business days ago. relending has continued with little additional drag, so once on the market it is getting around 6.5%!
- PM
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trium
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Post by trium on Oct 17, 2019 10:01:06 GMT
the queuing times are estimates for offers made today assuming nothing unexpected happens. I understood they are based on average matches over the previous 28 days, i.e. past performance, and we all know what that is no guide to. So 21-28 days is clearly wrong. In fact, I wonder whether an algorithm which averages over 28 days can include matches longer than that.
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Post by propman on Oct 17, 2019 13:55:48 GMT
For a good part of these 28 days, the matching on growth was low and so won't appear much in the average. this will be based primarily on the good lending at the start of the 28 days. Paradoxically, the good lending now will have tyhe opposite effect bringing in a lot of lending that was on old offers and so should increase the estimate for the next 28 days. As a result, I think it is misleading to call this an estimated matching time!
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benaj
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Post by benaj on Oct 17, 2019 15:57:22 GMT
I am giving flexible investors a heads up. My flexible offer is yet to be matched yet after 3 working days.
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mickj
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Post by mickj on Oct 19, 2019 8:27:19 GMT
5th & 9th September matched yesterday in growth.
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Post by nooneere on Oct 19, 2019 9:56:46 GMT
I am giving flexible investors a heads up. My flexible offer is yet to be matched yet after 3 working days. Thank you for this one. I have been monitoring LW as a possible for next year's IFISA and would use flexible. Now getting cautious about them.
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trium
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Post by trium on Oct 20, 2019 12:40:54 GMT
5th & 9th September matched yesterday in growth. Yes I finally got a match yesterday from my 9 September offer, but it's showing as a 4.5% interest rate? The balance of the offer is described as "allocated". I don't know if this means it's matched and awaiting loan formation (new to LW, but it's not my money that's been holding things up!)
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Post by jonrgrant on Oct 20, 2019 13:23:58 GMT
Just asking, have any other investors had their reinvestment money end up going into the new investment queue ?  today 22/10 LW have contacted me with a solution to ensure the lost interest whilst awaiting investment will be credited correctly, so thankfully all is resolved |
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kathy
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Post by kathy on Oct 20, 2019 21:59:08 GMT
This has happened to me and my husband, both for quite trivial amounts but money is money. Each time it was reported to LW and fixed but it took a long time for the fix to appear, and I mean weeks.
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trium
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Post by trium on Oct 21, 2019 18:38:13 GMT
5th & 9th September matched yesterday in growth. Yes I finally got a match yesterday from my 9 September offer, but it's showing as a 4.5% interest rate? The balance of the offer is described as "allocated". I don't know if this means it's matched and awaiting loan formation (new to LW, but it's not my money that's been holding things up!) The balance of my 9 September offer has now been matched to new loans ending in 3, 4 and 5 years' time at 6.5%. I still have a loan of 4.5%, ending 3/7/20 so obviously a second-hand loan. I wasn't expecting to pick up 4.5% loans after waiting the length of Lent and I can't find anything on the site which might have prepared me for such an eventuality. Can anyone shed any light?
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Post by Ace on Oct 21, 2019 19:12:43 GMT
Yes I finally got a match yesterday from my 9 September offer, but it's showing as a 4.5% interest rate? The balance of the offer is described as "allocated". I don't know if this means it's matched and awaiting loan formation (new to LW, but it's not my money that's been holding things up!) The balance of my 9 September offer has now been matched to new loans ending in 3, 4 and 5 years' time at 6.5%. I still have a loan of 4.5%, ending 3/7/20 so obviously a second-hand loan. I wasn't expecting to pick up 4.5% loans after waiting the length of Lent and I can't find anything on the site which might have prepared me for such an eventuality. Can anyone shed any light? When you pick up a second hand loan that was originally issued when rates were lower you get a compensation payment, labelled as " Quick Withdraw loan interest shortfall received", to make the interest up to the current going rate.
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