benaj
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Post by benaj on Jan 23, 2019 9:29:18 GMT
I suppose targeted marketing needs to be handle carefully, especially in the aspect not breaching of rules of ASA, otherwise money will be wasted in ad production.
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Post by gravitykillz on Jan 23, 2019 10:01:01 GMT
In my opinion the p2p lending market is way too saturated at the moment for this platform to grow naturally. It will either take many years or cost more than welendus could afford(therby reducing lender returns). A better option in my opinion would be a merger with a similar platform.Or a takeover by a bigger platform of welendus. The payday market is lucrative however it is also a profitable area.
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Ukmikk
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Post by Ukmikk on Jan 23, 2019 10:06:10 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. Has this been resolved now ? I don't know what their stated customer response times are. Sadly not. I don't think there are any, but anything would be an improvement.
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Post by Proptechfish on Jan 23, 2019 22:22:25 GMT
There's a trading update posted on Seedrs a few hours back, posted by Nadeem. He makes a significant call to action for more lenders. So my earlier 'suspicions' of WLU being oversubscribed may be inaccurate. Interesting ...
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zlb
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Post by zlb on Jan 23, 2019 23:19:35 GMT
There's a trading update posted on Seedrs a few hours back, posted by Nadeem. He makes a significant call to action for more lenders. So my earlier 'suspicions' of WLU being oversubscribed may be inaccurate. Interesting ... I'm interested in how these borrowers are different to those at Z, LW and RS. Any knowledge anyone? Are WL filling the short term loan market whereas the others won't loan for such short periods? I know on Z, when I've looked, the less you want to borrow for a shorter time, relatively understandably, the higher the interest rate gets (on the visible scale before registering).
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 24, 2019 0:35:28 GMT
There's a trading update posted on Seedrs a few hours back, posted by Nadeem. He makes a significant call to action for more lenders. So my earlier 'suspicions' of WLU being oversubscribed may be inaccurate. Interesting ... I'm interested in how these borrowers are different to those at Z, LW and RS. Any knowledge anyone? Are WL filling the short term loan market whereas the others won't loan for such short periods? I know on Z, when I've looked, the less you want to borrow for a shorter time, relatively understandably, the higher the interest rate gets (on the visible scale before registering). The borrowers are not run of the mill and interest rates although high are lower than most. Like the big boys Welendus is essentially a bridging finance solution albeit for a short period then the borrowers sort things out and move on. Loans do not roll over and circumstances are evaluated every time a loan is applied. Their loan book is tiny by most standards. Responsible lenders are not putting large sums in at a time. I restrict myself to under £1000 a time to minimise delay in take up. Good model wisely not compromising founding principles and growing faster than is prudent.
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michaelc
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Say No To T.D.S.
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Post by michaelc on Jan 24, 2019 1:22:58 GMT
Provo Fund is now below par (just). How low does it need to get before we need to be concerned?
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Post by gravitykillz on Jan 24, 2019 8:10:46 GMT
I agree with anubis. Too many question marks over welendus. From there customer service to there levels of provision fund and also there ceo putting up positive reviews on google. I have limited my investment here to £250. This platform is too new and they seem to be struggling just to get the basics correct.
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Post by gravitykillz on Jan 24, 2019 8:18:57 GMT
Another issue that concerns me is why they store my debit card information. All the other p2p sites do not. You have to enter the debit card numbers every time you make a deposit. And i cant see any option of removing it.
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benaj
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Post by benaj on Jan 24, 2019 8:37:49 GMT
Provo Fund is now below par (just). How low does it need to get before we need to be concerned? I notice there's a pattern for PF, it does go up and down. Every time a borrower repays the PF goes back up. However, the stats for the PF is a bit confusing, I find there's two numbers for PF coverage, one for 2018 and 2019. At the moment, I find it okay because it does buy back pretty quickly and borrowers pay quite a bit for the PF.
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Post by sayyestocress on Jan 24, 2019 9:00:42 GMT
In my opinion the p2p lending market is way too saturated at the moment for this platform to grow naturally. I don't agree with this statement. The only payday p2p competitor for welendus is The Money Platform, who have been going longer but have no provision fund and borrowers borrow from one lender. The risks are much higher. Other players like Zopa and Ratesetter are not targetting the same borrowers as Welendus and lenders can earn more with welendus than Zopa/Ratesetter, albeit with a different risk profile.
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Post by gravitykillz on Jan 24, 2019 9:10:22 GMT
In my opinion the p2p lending market is way too saturated at the moment for this platform to grow naturally. I don't agree with this statement. The only payday p2p competitor for welendus is The Money Platform, who have been going longer but have no provision fund and borrowers borrow from one lender. The risks are much higher. Other players like Zopa and Ratesetter are not targetting the same borrowers as Welendus and lenders can earn more with welendus than Zopa/Ratesetter, albeit with a different risk profile. Sorry i meant payday lending market not neccesarily p2p. My bad. In terms of payday loans a borrower has many different options depending on what their credit score is like. A lot of competition makes it difficult to grow a business as it has to cut margins to maintain competitiveness.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 24, 2019 13:07:41 GMT
I don't agree with this statement. The only payday p2p competitor for welendus is The Money Platform, who have been going longer but have no provision fund and borrowers borrow from one lender. The risks are much higher. Other players like Zopa and Ratesetter are not targetting the same borrowers as Welendus and lenders can earn more with welendus than Zopa/Ratesetter, albeit with a different risk profile. Sorry i meant payday lending market not neccesarily p2p. My bad. In terms of payday loans a borrower has many different options depending on what their credit score is like. A lot of competition makes it difficult to grow a business as it has to cut margins to maintain competitiveness. Typical Payday loans are 30 days and a lot higher intrest. Welendus fills the gap for those with sufficient credit worthiness for slightly longer loans. At £500 max default recovery would be nearly 100% as most would have assets well above this.
However that does not matter to investors as PF buys long before default criteria are met.
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paulb
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Post by paulb on Jan 24, 2019 14:57:55 GMT
There's a trading update posted on Seedrs a few hours back, posted by Nadeem. He makes a significant call to action for more lenders. So my earlier 'suspicions' of WLU being oversubscribed may be inaccurate. Interesting ... From the email newsletter "We currently have high demand for Welendus Loans and pleased to let you know that the investment queue is currently short", and a 0.25% bonus for new investments (mentioned in a different thread), so does look like they're looking more for lenders than borrowers. Paul.
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nick
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Post by nick on Jan 24, 2019 15:20:03 GMT
Sorry i meant payday lending market not neccesarily p2p. My bad. In terms of payday loans a borrower has many different options depending on what their credit score is like. A lot of competition makes it difficult to grow a business as it has to cut margins to maintain competitiveness. Typical Payday loans are 30 days and a lot higher intrest. Welendus fills the gap for those with sufficient credit worthiness for slightly longer loans. At £500 max default recovery would be nearly 100% as most would have assets well above this.
However that does not matter to investors as PF buys long before default criteria are met.
I imagine most defaults are probably written-off. The costs of pursuing sub £500 debts through the courts wouldn't make much economic sense in a lot of cases. At present, about a third of my return is from defaulted loan interest paid by the PF on buy back. Once they stop paying interest on defaulted loans (I understand this is temporary) returns will look a lot less attractive. It will be interesting to see if default rates rise over Jan-Feb as this is typically the time most households are under financial strain paying for debts built-up in the run up to the Christmas period.
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