benaj
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Post by benaj on Dec 21, 2018 14:20:02 GMT
My deposit on 23rd Nov was matched on 17th Dec. Am I right thinking that the only way to discover a current queue for new money is to read forum posts? I can't find any queue information on website. I can't find them anywhere else, but anyone can work out lending volume by downloading the loanbook and Lending Works statistics. Lending in December so far is 2.5Mil, average daily lending volume is 122k.
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Post by df on Dec 21, 2018 15:29:49 GMT
Am I right thinking that the only way to discover a current queue for new money is to read forum posts? I can't find any queue information on website. I can't find them anywhere else, but anyone can work out lending volume by downloading the loanbook and Lending Works statistics. Lending in December so far is 2.5Mil, average daily lending volume is 122k. I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable.
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IFISAcava
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Post by IFISAcava on Dec 21, 2018 15:31:39 GMT
I can't find them anywhere else, but anyone can work out lending volume by downloading the loanbook and Lending Works statistics. Lending in December so far is 2.5Mil, average daily lending volume is 122k. I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable. I'm 22 days in - waiting since 30 Nov. Will post when it gets matched.
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benaj
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Post by benaj on Dec 21, 2018 15:37:10 GMT
I can't find them anywhere else, but anyone can work out lending volume by downloading the loanbook and Lending Works statistics. Lending in December so far is 2.5Mil, average daily lending volume is 122k. I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable. Yep. Lending works has lent out 144Mil so far, 30Mil+ settled and 79 Mil outstanding balance, I estimate 1.5-2Mil reinvestment every month assuming not many borrowers settling loans early.
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pom
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Post by pom on Dec 23, 2018 10:02:00 GMT
I can't find them anywhere else, but anyone can work out lending volume by downloading the loanbook and Lending Works statistics. Lending in December so far is 2.5Mil, average daily lending volume is 122k. I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable. Since posts generally happen when there IS a queue, I think it's more the case you should wait for posts to stop! 
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Post by df on Dec 23, 2018 22:17:32 GMT
I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable. Since posts generally happen when there IS a queue, I think it's more the case you should wait for posts to stop! Thinking how "busy" LW board is, I'll probably wait for a month and deposit a very little test amount. I look at RS board quite frequently. As soon as rates start creeping up the board is full of exciting posts 
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ashtondav
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Post by ashtondav on Dec 29, 2018 11:47:12 GMT
I assume 122k figure includes reinvestments, which have priority. I'm going to wait and keep an eye on posts here. I'll invest new money when I see reports indicating that the queue is not too long and more or less stable. I'm 22 days in - waiting since 30 Nov. Will post when it gets matched. My cash from the 30th of November is still waiting. I’ve now got about £7,000 queued up, but December is always slow in the loans business. January sizzles, though! Here’s hoping....
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IFISAcava
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Post by IFISAcava on Dec 29, 2018 23:48:16 GMT
I'm a month and a day in. No match and no indication of how long to go. If nothing matched by the end of Jan 2nd, am cancelling the investment and transferring money elsewhere. The 6.5% is an illusion to bring in new money, but the cash drag means it is much less in practice.
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Post by Ace on Dec 30, 2018 1:46:11 GMT
I'm a month and a day in. No match and no indication of how long to go. If nothing matched by the end of Jan 2nd, am cancelling the investment and transferring money elsewhere. The 6.5% is an illusion to bring in new money, but the cash drag means it is much less in practice. I think that your investment timing has been unlucky. I've invested 10 different lump sums in LW between March and July this year and these took between 0 and 15 days to be fully invested (the average was 9 days). A one month cash drag on a 5 year investment at 6.5% would effectively lower the return to 6.39%. This reduction would certainly annoy me, and the removal of the prediction of how much longer it might take is also annoying. But, now your a month in it might be worth hanging in there for a few more days in Jan to see if borrowing picks up. Perhaps it's worth calling LW to see if they can give you a steer on how close you are to the front of the queue. Good luck.
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IFISAcava
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Post by IFISAcava on Dec 30, 2018 11:59:13 GMT
I'm a month and a day in. No match and no indication of how long to go. If nothing matched by the end of Jan 2nd, am cancelling the investment and transferring money elsewhere. The 6.5% is an illusion to bring in new money, but the cash drag means it is much less in practice. I think that your investment timing has been unlucky. I've invested 10 different lump sums in LW between March and July this year and these took between 0 and 15 days to be fully invested (the average was 9 days). A one month cash drag on a 5 year investment at 6.5% would effectively lower the return to 6.39%. This reduction would certainly annoy me, and the removal of the prediction of how much longer it might take is also annoying. But, now your a month in it might be worth hanging in there for a few more days in Jan to see if borrowing picks up. Perhaps it's worth calling LW to see if they can give you a steer on how close you are to the front of the queue. Good luck. Thanks, early Jan inertia may save me anyway! Those figures would also assume no cash drag on the reinvestment, which may not be 100% true even though they have priority. And on the way out one would either face some cash drag during drawdown and/or when transferring ISA monies, plus a selling fee if taking all in one go. Anyhow, I'm not withdrawing any current investments, it's this £10K that's been waiting and also took 6 weeks to transfer in to begin with (so nearly 3 months dead time) that's annoying me. It's a good lesson in ISA management I am learning.
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Post by gravitykillz on Dec 31, 2018 13:28:49 GMT
Im planning to deposit some money on the 2nd jan 2019 to test the water. Hopefully it wont be that bad since the holidays will be over. Goodbye 2018 !!!
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Post by nutfield on Dec 31, 2018 17:49:52 GMT
If you plan to "test the water", I can tell you that the water is pretty stagnant! I have had money queuing for nearly a month already. I wonder if Mathew, who sometimes contributes to these discussions, can offer any inside info?
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bigfoot12
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Post by bigfoot12 on Dec 31, 2018 17:53:39 GMT
I got tired of waiting and pulled my money from the queue. I guessed that given they have removed the estimate it isn't going to be quick and there will be plenty of re-investment money ahead of me. I will wait until April 6th to see if we have any better idea what the Brexit position will be and a new tax year so one less tax report to worry about this year.
EDIT: It isn't really the wait that caused me to change my mind, merely the non-investment allows me to exit easily. It is that discussions on other P2P threads have highlighted increasing default rates across much of the UK economy have caused me to think again. And as I haven't invested here yet, I can exit easily without a taxable transaction. I also don't like exit penalties, nor do I like asymmetric sales adjustments were my sale price might be adjusted down, but never up.
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Post by gravitykillz on Dec 31, 2018 20:32:23 GMT
You guys were unfortunate to invest during the holidays when everything slows down. I am confident things will pick up in January and i guess even Matthew is enjoying some time off. Hail hydra!
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Post by Matthew on Jan 1, 2019 18:26:42 GMT
If you plan to "test the water", I can tell you that the water is pretty stagnant! I have had money queuing for nearly a month already. I wonder if Mathew, who sometimes contributes to these discussions, can offer any inside info? Hi nutfield and others We received a much larger than usual flow of investor funds throughout December, at the same time as the general slowdown in loan approvals leading up to Christmas, which resulted in much longer queues to get new money invested. I'd like to apologise for the delays experienced by a number of you recently - this is unusual and I think there is work to do our end to improve estimates and provide matching times much earlier in the process. The good news is that January will be significantly better as this is traditionally one of the biggest lending months of the year. Hopefully those who are prepared to hang in there will see their money disbursed in the next week or so.
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