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Post by carol167 on Nov 2, 2018 10:35:27 GMT
WooHoo!!!
Just in time for my pending dump in from a cash ISA.
:-)
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benaj
Member of DD Central
N/A
Posts: 5,591 
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Post by benaj on Nov 2, 2018 10:41:20 GMT
Nice, have you got a email or something? LW still advertises up to 6% on its website. Edit: I've just logged in the portal, it says "Starting from Monday 5th November" for the new rates 3 years up to 4.5%, 5 years up tp 6.5%  |
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Post by Ace on Nov 2, 2018 11:23:09 GMT
Wow, it's a really close call between RS and LW for low hassle, PF protected 5 yr rates for me now.
I think LW just has the edge as I don't need to constantly monitor what rate to set for reinvestment, and it has a lower penalty for early exit.
It's a great problem to have though, choosing between my 2 favourite platforms for this type of investment 😊
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Post by carol167 on Nov 2, 2018 11:45:10 GMT
Wow, it's a really close call between RS and LW for low hassle, PF protected 5 yr rates for me now. I think LW just has the edge as I don't need to constantly monitor what rate to set for reinvestment, and it has a lower penalty for early exit. It's a great problem to have though, choosing between my 2 favourite platforms for this type of investment 😊 I have about the same amount in both RS & LW. But only an ISA with LW. I'd put alot more in if only I could be more confident.
But you are right - LW is a bit less hassle than RS.
As you say great problem to have though. :-)
I have made far more from these two accounts than I ever did with the likes of Lendy, FS, FC and MT - and I really tried.
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Post by Ace on Nov 2, 2018 11:51:22 GMT
Wow, it's a really close call between RS and LW for low hassle, PF protected 5 yr rates for me now. I think LW just has the edge as I don't need to constantly monitor what rate to set for reinvestment, and it has a lower penalty for early exit. It's a great problem to have though, choosing between my 2 favourite platforms for this type of investment 😊 I have about the same amount in both RS & LW. But only an ISA with LW. I'd put alot more in if only I could be more confident.
But you are right - LW is a bit less hassle than RS.
As you say great problem to have though. :-)
I have made far more from these two accounts than I ever did with the likes of Lendy, FS, FC and MT - and I really tried.
Another thought that's just occurred to me; with an early withdraw free of only 0.6% it would be worth cashing in and reinvesting at the higher rate. In the 5 year product you would be up on the deal as long as it didn't take more than 3 and a bit months to get reinvested.🤔
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puddleduck
Member of DD Central
Posts: 537
Likes: 489
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Post by puddleduck on Nov 2, 2018 11:56:59 GMT
I've got rather a lot in Assetz at the moment for the 1% / 2% bonus, but I'm tempted to rehome some of my Assetz money after the 1% payout rather than keep it there for the 2%. I think with Assetz 30 day at 5.3% vs LW at 6.5% although not apples and oranges due to 30 days vs 5 years will be a good move, even if I need to pay 0.6% to get quicker access.
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Nov 2, 2018 12:29:48 GMT
Genuinely like LW as a platform so far. No complaints.
Has anyone got an idea whether they are profitable or not? Understand that most new platforms are not to start with, but looking at the longer-term viability.
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Post by Ace on Nov 2, 2018 12:49:14 GMT
Might be worth turning relending off and cancelling unmatched offers until after the rate rise on Monday.
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Post by Matthew on Nov 2, 2018 12:49:59 GMT
I have about the same amount in both RS & LW. But only an ISA with LW. I'd put alot more in if only I could be more confident.
But you are right - LW is a bit less hassle than RS.
As you say great problem to have though. :-)
I have made far more from these two accounts than I ever did with the likes of Lendy, FS, FC and MT - and I really tried.
Another thought that's just occurred to me; with an early withdraw free of only 0.6% it would be worth cashing in and reinvesting at the higher rate. In the 5 year product you would be up on the deal as long as it didn't take more than 3 and a bit months to get reinvested.🤔 Please don't do this... If you sell loans at lower rates than the current rates, you compensate the incoming lender for the difference (it wouldn't be fair for them to take on lower than market rate loans). It's a zero sum game!
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Post by Ace on Nov 2, 2018 12:54:00 GMT
Another thought that's just occurred to me; with an early withdraw free of only 0.6% it would be worth cashing in and reinvesting at the higher rate. In the 5 year product you would be up on the deal as long as it didn't take more than 3 and a bit months to get reinvested.🤔 Please don't do this... If you sell loans at lower rates than the current rates, you compensate the incoming lender for the difference (it wouldn't be fair for them to take on lower than market rate loans). It's a zero sum game! Ah yes, my bad. I forgot about that. Glad to see that LW have that angle covered to protect existing lenders. Sorry for trying to game the system. I like LW even more now.
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Post by Matthew on Nov 2, 2018 12:54:03 GMT
Genuinely like LW as a platform so far. No complaints. Has anyone got an idea whether they are profitable or not? Understand that most new platforms are not to start with, but looking at the longer-term viability. I do... We're not yet profitable, though that is not our primary focus right now. We are focused on scaling the platform and loan origination volumes, investing significantly in infrastructure and people. We have supportive institutional (VC) shareholders and recently completed a Series A investment (£2.8m). Worth noting that we are already operationally profitable (excluding 'growth' overhead). Hope this helps.
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Post by Duane Dibley on Nov 2, 2018 13:06:26 GMT
Fast becoming my favourite platform.
Good clean rates, without any of those annoying summer specials or Christmas bonuses, (are you listening Assetz Capital?), just consistently high returns.
And with good customer service (are you still listening Assetz Capital?), and backing from the likes of NVM and Maven, it's no surprise that more of my money is making the short leap to Lending Works.
Keep it up.
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picnicman
Member of DD Central
Posts: 238
Likes: 216
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Post by picnicman on Nov 3, 2018 10:31:48 GMT
Genuinely like LW as a platform so far. No complaints. Has anyone got an idea whether they are profitable or not? Understand that most new platforms are not to start with, but looking at the longer-term viability. I do... We're not yet profitable, though that is not our primary focus right now. We are focused on scaling the platform and loan origination volumes, investing significantly in infrastructure and people. We have supportive institutional (VC) shareholders and recently completed a Series A investment (£2.8m). Worth noting that we are already operationally profitable (excluding 'growth' overhead). Hope this helps. Glad to see focus on loan origination (not at the expense of quality though) as whilst I agree wholeheartedly with all the positive comments above, one downside has been the drag (sometimes a week or more) to get new funds invested as they rank behind maturing funds in the queue. This is likely to still be a (an increased) problem with the potential influx of new monies viz the rate increase and so anything on new loans will only help. Cheers P 
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Post by df on Nov 3, 2018 19:32:53 GMT
Wow, it's a really close call between RS and LW for low hassle, PF protected 5 yr rates for me now. I think LW just has the edge as I don't need to constantly monitor what rate to set for reinvestment, and it has a lower penalty for early exit. It's a great problem to have though, choosing between my 2 favourite platforms for this type of investment 😊 I'm not sure if early exit fee on RS is fixed. Is it? For me the main advantage of LW is very simple hands free investment. On RS, to achieve the same 6-6.5% requires quite a bit of work. It is easy now to get 6%+, but you never know for how long. I've been with RS for over 2 years and in my observation the rates are very sporadic. Generally (imo) LW is much more user friendly. I think now that LW rate goes up I will be reinvesting my RS returns here.
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Post by Ace on Nov 3, 2018 19:51:35 GMT
Wow, it's a really close call between RS and LW for low hassle, PF protected 5 yr rates for me now. I think LW just has the edge as I don't need to constantly monitor what rate to set for reinvestment, and it has a lower penalty for early exit. It's a great problem to have though, choosing between my 2 favourite platforms for this type of investment 😊 For me the main advantage of LW is very simple hands free investment. On RS, to achieve the same 6-6.5% requires quite a bit of work. It is easy now to get 6%+, but you never know for how long. I've been with RS for over 2 years and in my observation the rates are very sporadic. Generally (imo) LW is much more user friendly. I think now that LW rate goes up I will be reinvesting my RS returns here. I believe that the early exit fee on the 5 year market is 1.5% on RS, compared with 0.6% on LW.
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