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Post by gravitykillz on Jan 19, 2019 6:00:12 GMT
I find this platform very basic compared to others. Not easy to find the rates you are recieving and i cannot see an overall average rate at all. They need to spend more money on the website to make it easy to navigate and give relevant information to the user. The rates are good though.
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Post by gravitykillz on Jan 19, 2019 18:17:35 GMT
Also what happens to interest payments are they reinvested or is there a setting where interest and capital is paid back into my bank account?
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benaj
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Post by benaj on Jan 19, 2019 18:52:50 GMT
I find this platform very basic compared to others. Not easy to find the rates you are recieving and i cannot see an overall average rate at all. They need to spend more money on the website to make it easy to navigate and give relevant information to the user. The rates are good though. Welenus raised fund back in Aug 2018 www.seedrs.com/welendus6The raised funds will be spent on: 1. Talent: Adding new operational team members. 2. Marketing: online targeted marketing together with referrals and virality. 3. Technology: Continued development to add new functionalities to stay ahead of the game. 4. Services and IP: More IP applications as well as other services. In the meantime, they are looking for an app developer angel.co/welendus/jobs/343155-mobile-developer-ios-and-android
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oldtimer
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Post by oldtimer on Jan 19, 2019 21:57:52 GMT
Also what happens to interest payments are they reinvested or is there a setting where interest and capital is paid back into my bank account? An interest sweep option has been promised for quite a while now to enable you to take an income but it never seems to get to the top of the todo list. Any progress on this nsiam?
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benaj
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Post by benaj on Jan 19, 2019 22:11:25 GMT
Also what happens to interest payments are they reinvested or is there a setting where interest and capital is paid back into my bank account? At the moment, repayment is paid back into the "investment" for reinvestment, but the PF bonus is paid back to the "unassigned". Money will be paid back to bank account after "withdrawing investment" without reinvestment. When someone Withdraws investment, the accrued interest will not be paid I think.
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benaj
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Post by benaj on Jan 20, 2019 10:02:40 GMT
As investments are prioritised by investment date, newer investments will face a slight Cash Drag to start with. But once they are lent out and in the system, the Cash Drag improves significantly as the investment age. Thank you for your clarification nsiam , but I am still confused about how exactly it works. I have a new loan recently, I notice one lender has 7 " investments" in the loan while I have only one. Does it mean all his 7 investments age are older than rest of my other "investments"? I have money unlent in the rest of my 4 other investment too. Of course I have no idea how much spare cash the other lender has in this portfolio, but I find it is strange that the other lender manage to lend more money with his 7 investments while I could have lent out more with my single investment even diversification limit is not reached. , this morning, one of my newest investment got a new loan part while my other 4 older investments not getting any parts in this loan, however I notice one lender manages to have 2 investments in this loan. All my investments are set to the same rates so I cannot see why this is happening. It seems the algorithm behaves differently every day.
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Post by gravitykillz on Jan 20, 2019 18:42:30 GMT
What is the point of telling the lender what year the borrower was born in ? Does that make any difference to the loan ? I would rather know his credit rating or his annual salary. Giving us irrelevant information is pointless.
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Post by Ace on Jan 20, 2019 20:41:08 GMT
Thank you for your clarification nsiam , but I am still confused about how exactly it works. I have a new loan recently, I notice one lender has 7 " investments" in the loan while I have only one. Does it mean all his 7 investments age are older than rest of my other "investments"? I have money unlent in the rest of my 4 other investment too. Of course I have no idea how much spare cash the other lender has in this portfolio, but I find it is strange that the other lender manage to lend more money with his 7 investments while I could have lent out more with my single investment even diversification limit is not reached. , this morning, one of my newest investment got a new loan part while my other 4 older investments not getting any parts in this loan, however I notice one lender manages to have 2 investments in this loan. All my investments are set to the same rates so I cannot see why this is happening. It seems the algorithm behaves differently every day. I'm guessing that it's not actually the age of the investment that determines priority within a rate band, but the length of time that the unallocated cash has been queued. It is just a guess though, and I realise that an earlier post says otherwise. It wouldn't make sense for it to be the investment age, but if it was then we would hear many more complaints from new lenders having terrible cash drag. To back this up, there doesn't seem to be any difference in cash drag between my newne and older investments once they have been fully allocated.
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Post by gravitykillz on Jan 20, 2019 20:47:11 GMT
Ceo Nadeem siam. Anyone think there is a conflict of interest with the ceo nadeem going on google and giving his company welendus a positive review.
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Mucho P2P
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Post by Mucho P2P on Jan 20, 2019 21:00:26 GMT
Ceo Nadeem siam. Anyone think there is a conflict of interest with the ceo nadeem going on google and giving his company welendus a positive review. I personally would not do it, if my company. However, as long as it does not alter the google overall rating of his company, then it is OK.
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benaj
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Post by benaj on Jan 21, 2019 7:31:23 GMT
nsiam , this morning, one of my newest investment got a new loan part while my other 4 older investments not getting any parts in this loan, however I notice one lender manages to have 2 investments in this loan. All my investments are set to the same rates so I cannot see why this is happening. It seems the algorithm behaves differently every day. I'm guessing that it's not actually the age of the investment that determines priority within a rate band, but the length of time that the unallocated cash has been queued. It is just a guess though, and I realise that an earlier post says otherwise. It wouldn't make sense for it to be the investment age, but if it was then we would hear many more complaints from new lenders having terrible cash drag. To back this up, there doesn't seem to be any difference in cash drag between my newne and older investments once they have been fully allocated. Overall, I am positive about the my investment return on Welendus despite I am experiencing some cash drag issue and fail to understand how the matching process works This morning, I had a loan completed with full interest repaid from my oldest investment, despite having cash have been queuing longer in newer investment parts, the cash from the oldest investment part got a new loan after this but cash in newer investment parts stuck. My cash stuck in newer investments could have filled up the loan but the algorithm wouldn't touch it. But without a clear clarification from Welendus / nsiam, it may put off some investors for further investment.
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Post by Ace on Jan 21, 2019 8:01:50 GMT
I'm guessing that it's not actually the age of the investment that determines priority within a rate band, but the length of time that the unallocated cash has been queued. It is just a guess though, and I realise that an earlier post says otherwise. It wouldn't make sense for it to be the investment age, but if it was then we would hear many more complaints from new lenders having terrible cash drag. To back this up, there doesn't seem to be any difference in cash drag between my newne and older investments once they have been fully allocated. Overall, I am positive about the my investment return on Welendus despite I am experiencing some cash drag issue and fail to understand how the matching process works This morning, I had a loan completed with full interest repaid from my oldest investment, despite having cash have been queuing longer in newer investment parts, the cash from the oldest investment part got a new loan after this but cash in newer investment parts stuck. My cash stuck in newer investments could have filled up the loan but the algorithm wouldn't touch it. But without a clear clarification from Welendus / nsiam , it may put off some investors for further investment. Like you, I would also appreciatea a clear explanation of the allocation algorithm from nsiam. Could it be that your newest allocation is explained by a, reinvestment cash takes priority over new cash, rule?
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Ukmikk
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Post by Ukmikk on Jan 21, 2019 12:30:37 GMT
I cant make head or tail of it.
After a trial period with no issues I added some further funds in a series of 1k investments with a range 10-15%. These all initially invested within a couple of days, to my pleasant surprise, at which point I adjusted the ranges to avoid multiple (more than 2) investments in any one loan.
Since then my overall investment has been steadily declining from 100% to around 77% last Friday. Today a couple of investments have sprung back into life and improved the situation, however a couple of my investments last bought new loans 23/25 days ago! These are not the newest investments and one of these now stands at only 60% invested. Another, newer investment with a similar range (12.5 - 15%) is currently 100% invested!??
I do wonder if adjusting the investment range somehow 'resets the clock' so it looks like a new investment and goes back to the back of the queue.
In a bid to clear this up I have called customer service this morning but so far, in a bad case of deja-vu, they have not answered the call nor called me back, which is even more unsettling than the seemingly inconsistent investment allocation.
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Post by Proptechfish on Jan 21, 2019 19:57:50 GMT
I cant make head or tail of it. After a trial period with no issues I added some further funds in a series of 1k investments with a range 10-15%. These all initially invested within a couple of days, to my pleasant surprise, at which point I adjusted the ranges to avoid multiple (more than 2) investments in any one loan. Since then my overall investment has been steadily declining from 100% to around 77% last Friday. Today a couple of investments have sprung back into life and improved the situation, however a couple of my investments last bought new loans 23/25 days ago! These are not the newest investments and one of these now stands at only 60% invested. Another, newer investment with a similar range (12.5 - 15%) is currently 100% invested!?? I do wonder if adjusting the investment range somehow 'resets the clock' so it looks like a new investment and goes back to the back of the queue. In a bid to clear this up I have called customer service this morning but so far, in a bad case of deja-vu, they have not answered the call nor called me back, which is even more unsettling than the seemingly inconsistent investment allocation. There may be a simple answer. Is it not possible that there is too much money on the platform right now for the available loan parts. Fag paket maths - £200k lent in 2019 /21 days = £9500 a day x 90 (maximum loan duration) would give an approximate loan generation over the maximum loan term of £850'000. That's less than some individuals have on a single platform let alone what's got to be approaching a few thousand users by now ?
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Post by df on Jan 21, 2019 20:57:52 GMT
I cant make head or tail of it. After a trial period with no issues I added some further funds in a series of 1k investments with a range 10-15%. These all initially invested within a couple of days, to my pleasant surprise, at which point I adjusted the ranges to avoid multiple (more than 2) investments in any one loan. Since then my overall investment has been steadily declining from 100% to around 77% last Friday. Today a couple of investments have sprung back into life and improved the situation, however a couple of my investments last bought new loans 23/25 days ago! These are not the newest investments and one of these now stands at only 60% invested. Another, newer investment with a similar range (12.5 - 15%) is currently 100% invested!?? I do wonder if adjusting the investment range somehow 'resets the clock' so it looks like a new investment and goes back to the back of the queue.
In a bid to clear this up I have called customer service this morning but so far, in a bad case of deja-vu, they have not answered the call nor called me back, which is even more unsettling than the seemingly inconsistent investment allocation. I do this quite often, it tends to help to lend quicker (I assume, by allowing for lower rate I jump the queue?). Today, for example, I had £10 queued in one of investments, adjusted the range down to 11.5% and it was lent within couple of hours.
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