alanh
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Post by alanh on Oct 29, 2019 11:09:09 GMT
I put a chunk of money from the torrent of RS early repayments I seem to be getting into the queue on Saturday (26th). Nothing matched yet but hopefully from these comments it shouldn't take too long.
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benaj
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Post by benaj on Oct 29, 2019 12:10:52 GMT
My bad, my "flexible" offer won't be matched until the end of 28 days period due to recent withdrawal. I also raised a ticket regarding my stuck "growth" offers.
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Post by propman on Oct 29, 2019 14:56:56 GMT
Money paid in on 18/10 was loaned today (6 working days) with offers 6 days (4 working days) apart matched against Quick sales today. So seems like a large withdrawal has used up most of the offers left. Is that ISA new money? I am surprised my new money in my classic account not matched, Growth offer made on the 11th Oct. Yes it was.
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Post by propman on Oct 29, 2019 15:04:22 GMT
... These were ex-RS and had been drip-fed a couple of times a day into the queue over two weeks in mid-October to avoid future cash-drag caused by early repayment of large chunks. ... Too late for you now, but for others considering this it doesn't seem to be a logical strategy to me. By holding available money back you are effectively adding certain cash drag at the front end in the hope of avoiding potential cash drag later on, which: a) may not occur, and b) will most likely be much shorter since reinvestment take precedence over new money. the logic of this is that investment is to different loans, then it is less likel;y to happen at the same time. Put a large amount in on one day and it may be matched to a single loan. Yes there is a good chance that tis is not repaid for some time, but if it is repaid then the process restarts. I agree that the prioritised reinvestment reduces the cost, but the rate could be lower then &/or even relending slow. When the choice is between new money offer now or several new money offers over a few days, the costs are not that great unless you are unlucky and the new money queue stalls in the middle.
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Post by Ace on Oct 29, 2019 18:50:15 GMT
Too late for you now, but for others considering this it doesn't seem to be a logical strategy to me. By holding available money back you are effectively adding certain cash drag at the front end in the hope of avoiding potential cash drag later on, which: a) may not occur, and b) will most likely be much shorter since reinvestment take precedence over new money. the logic of this is that investment is to different loans, then it is less likel;y to happen at the same time. Put a large amount in on one day and it may be matched to a single loan. Yes there is a good chance that tis is not repaid for some time, but if it is repaid then the process restarts. I agree that the prioritised reinvestment reduces the cost, but the rate could be lower then &/or even relending slow. When the choice is between new money offer now or several new money offers over a few days, the costs are not that great unless you are unlucky and the new money queue stalls in the middle. Fair enough. I would add that when I put a £10k chunk in in one go it was split over very many loans. The largest was £1k. Don't know if this is a policy or a lucky coincidence though.
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jlend
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Post by jlend on Oct 29, 2019 21:29:18 GMT
Am curious.
I have paused making new investments until I see the PF stop falling and some visibility that 2019 loans are much better than 2016-2018.
Those of you still adding money, is there a specific level of PF, late loans, defaults that would make you pause?
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Post by Ace on Oct 29, 2019 22:04:25 GMT
Yes, and it's getting close.
I considered pausing lending, but as the exit fee is less than one month's interest I decided to carry on investing then sell out and exit when/if my threshold is crossed. I have confidence that LS will get a grip of the situation before this happens, but I have no logical explanation as to why. I think than my confidence is buoyed my Matthews contributions on here, but, again, I can't put my finger on why.
Not really like me to be so irrational. I'll have a word with myself and make a proper decision soon. Thanks for making me think.
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trium
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Post by trium on Oct 30, 2019 4:24:31 GMT
I'm curious - how is it that the displayed estimated matching time in Growth consistently lagged behind actual times reported by posters here while the queue was growing but immediately plummets to 1-7 days as soon as things start moving again? And since that movement only occurred this week how can the average over the last 28 days only be 1-7 days?
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Post by propman on Oct 30, 2019 10:08:53 GMT
I'm curious - how is it that the displayed estimated matching time in Growth consistently lagged behind actual times reported by posters here while the queue was growing but immediately plummets to 1-7 days as soon as things start moving again? And since that movement only occurred this week how can the average over the last 28 days only be 1-7 days? I agree. However it would be more logical to use the average amounts matched and compare to the actual queue today. So if the queue reduces then matching times would reduce. That said this is not how the site says it works!
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mickj
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Post by mickj on Oct 30, 2019 22:54:40 GMT
Matching Growth listing as 1-7 days and from the last little bit I added, spot on.
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Post by Matthew on Nov 1, 2019 10:03:01 GMT
I'm curious - how is it that the displayed estimated matching time in Growth consistently lagged behind actual times reported by posters here while the queue was growing but immediately plummets to 1-7 days as soon as things start moving again? And since that movement only occurred this week how can the average over the last 28 days only be 1-7 days? I agree. However it would be more logical to use the average amounts matched and compare to the actual queue today. So if the queue reduces then matching times would reduce. That said this is not how the site says it works! Hi propmanIt actually does use the average amounts matched versus the actual queue today, which explains why it tends to drop more quickly than it increases (e.g. if there's a large loan sale - see other thread). I think the narrative on the tooltip is confusing and I'll see if I can get that changed! Thanks
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tyrex
Posts: 78
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Post by tyrex on Nov 1, 2019 12:54:31 GMT
Just added a few hundred pounds of new money in Growth today, and it matched within a few hours  |
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benaj
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Post by benaj on Nov 1, 2019 18:11:19 GMT
I think my account is cursed. So unfair, I raised a ticket a few days ago, not fixed.
Offers from yesterday on Growth not matched. 🙁
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mickj
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Post by mickj on Nov 6, 2019 14:21:48 GMT
Just added a few hundred pounds of new money in Growth today, and it matched within a few hours Yes, much improved - bank transfer in quicker and matching quicker, well done LW 
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benaj
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Post by benaj on Nov 6, 2019 16:33:15 GMT
I topped up my account recently with a debit card on weekend. Although I understand Lending works require 2 working days for clearing debit card payment, now I’ve learned funds doesn’t get cleared within 48 hours from the start of next working day, extra hours may be required until next working day morning.
I hope this info may be useful for others investors who top up their account with debit cards.
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