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Post by freedommmm on Dec 11, 2018 11:23:37 GMT
I registered with Welendus. However, I am unable to see anything useful on their site, such as available loans or the SM loans.. In fact, cannot see anything useful at all.
I contacted the administration but they haven't responded for a couple of days. So, my conclusion is that Welendus have too much money and do not want any more money.
Just signed up on Proplend and will be checking out what is there.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 11, 2018 12:04:39 GMT
I registered with Welendus. However, I am unable to see anything useful on their site, such as available loans or the SM loans.. In fact, cannot see anything useful at all. I contacted the administration but they haven't responded for a couple of days. So, my conclusion is that Welendus have too much money and do not want any more money. Just signed up on Proplend and will be checking out what is there. Thats not how it works. Its an automated black box account so you wont see anything available.
Set up a lending offer, for how much you wish to lend, what rate/spread of rates, diversification level. The system then matches you to loans, either new ones or one others are exiting from, that match the criteria. Once it has matched you to loans then you will be able to view the loans you are in.
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Post by freedommmm on Dec 11, 2018 18:21:24 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to?
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elliotn
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Post by elliotn on Dec 12, 2018 5:35:13 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to? Depends on the loan. Those have been up yonks. Investing in the belief you can always pass on your risk to the next fool is extremely high risk. No deal could freeze the SM markets.
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mjc
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Post by mjc on Dec 14, 2018 10:28:52 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to? Take great care with Proplend AutoInvest, unless you are happy with 20% in the same loan. Having said that, I do believe the loans are high quality, but very, very few of them, so expect cash drag. I pop a thousand or so in when I get below £1k, the minimum that can be lent. If I could get into more loans, I would use them much more.
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hantsowl
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Post by hantsowl on Dec 15, 2018 12:30:50 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to? Depends on the loan. Those have been up yonks. Investing in the belief you can always pass on your risk to the next fool is extremely high risk. No deal could freeze the SM markets. The PLE is the Proplend SM. The 3 loans which appear to be always available are probably the lower-rate, long-term, large investments. I suspect the large availability is down to underwriters gradually offloading their holding. All other loan chunks seem to sell as soon as someone spots them as available, and in my experience rarely stay for as long as 1 hour (usually minutes). An interesting observation was when I put some D**B**C** up for sale when the PLE was showing about 90K availability (my idea was to tack to the end of the queue). This had sold within minutes. Maybe general lender sales take priority over underwriter sales (specualtion).
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hantsowl
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Post by hantsowl on Dec 15, 2018 12:59:31 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to? Take great care with Proplend AutoInvest, unless you are happy with 20% in the same loan. Having said that, I do believe the loans are high quality, but very, very few of them, so expect cash drag. I pop a thousand or so in when I get below £1k, the minimum that can be lent. If I could get into more loans, I would use them much more. I agree with the autolend comments and use it very carefully. If I want to auto invest in a new offering I make sure that I have only as much available cash as I am prepared to invest in the loan. If I have more cash available I do a quick transfer to my non-ISA account of the extra and move it back after the loan goes live. I also make sure autolend is off before the 3pm run on the PLE. In my first 2 months I managed to fully invest my ISA in £1000 chunks of different loans primarily from the PLE, and I do not hold any of the 3 that seem permenant PLE entries.
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mjc
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Post by mjc on Dec 15, 2018 14:42:34 GMT
Take great care with Proplend AutoInvest, unless you are happy with 20% in the same loan. Having said that, I do believe the loans are high quality, but very, very few of them, so expect cash drag. I pop a thousand or so in when I get below £1k, the minimum that can be lent. If I could get into more loans, I would use them much more. I agree with the autolend comments and use it very carefully. If I want to auto invest in a new offering I make sure that I have only as much available cash as I am prepared to invest in the loan. If I have more cash available I do a quick transfer to my non-ISA account of the extra and move it back after the loan goes live. I also make sure autolend is off before the 3pm run on the PLE. In my first 2 months I managed to fully invest my ISA in £1000 chunks of different loans primarily from the PLE, and I do not hold any of the 3 that seem permenant PLE entries. Just checked what was invested by Autolend, and £6k was invested in S*v*n S*st**s and £3k in G*ld*r* G****n, out of £30k total invested. That is crass just because they wanted to shift it. I will never use that Autoinvest again. So I would not recommend Proplend to anyone for that reason, shame cos apart from that I have confidence in them.
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IFISAcava
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Post by IFISAcava on Dec 15, 2018 15:18:54 GMT
I agree with the autolend comments and use it very carefully. If I want to auto invest in a new offering I make sure that I have only as much available cash as I am prepared to invest in the loan. If I have more cash available I do a quick transfer to my non-ISA account of the extra and move it back after the loan goes live. I also make sure autolend is off before the 3pm run on the PLE. In my first 2 months I managed to fully invest my ISA in £1000 chunks of different loans primarily from the PLE, and I do not hold any of the 3 that seem permenant PLE entries. Just checked what was invested by Autolend, and £6k was invested in S*v*n S*st**s and £3k in G*ld*r* G****n, out of £30k total invested. That is crass just because they wanted to shift it. I will never use that Autoinvest again. So I would not recommend Proplend to anyone for that reason, shame cos apart from that I have confidence in them. A bit harsh - just don't use Autolend
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hantsowl
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Post by hantsowl on Dec 15, 2018 17:05:38 GMT
I agree with the autolend comments and use it very carefully. If I want to auto invest in a new offering I make sure that I have only as much available cash as I am prepared to invest in the loan. If I have more cash available I do a quick transfer to my non-ISA account of the extra and move it back after the loan goes live. I also make sure autolend is off before the 3pm run on the PLE. In my first 2 months I managed to fully invest my ISA in £1000 chunks of different loans primarily from the PLE, and I do not hold any of the 3 that seem permenant PLE entries. Just checked what was invested by Autolend, and £6k was invested in S*v*n S*st**s and £3k in G*ld*r* G****n, out of £30k total invested. That is crass just because they wanted to shift it. I will never use that Autoinvest again. So I would not recommend Proplend to anyone for that reason, shame cos apart from that I have confidence in them. You could have avoided that by disabling autolend before the 3pm run on the PLE. Just enable when a new loan is imminent. I rarely use autolend and tend to buy all my loans manually. Autolend is intended for hands-off investors, but I seem to remember reading somewhere that changes are to be made to make it more ‘friendly’.
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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 Dec 16, 2018 1:34:13 GMT
Just checked out proplend. From what I can see it seems to be an ok platform.. The things that concern me are the minimum investment criteria. I like to be able to spread risk as much as possible This would mean I would have to put .2% minimum in any loan. Currently I can put as little as I like depending on the platform reducing risk of default to a tiny amount.
The big downside is without being in their FISA there is no way to avoid tax at minimum of 19%,20% , 21% or even 41% Currently I can sell my tax liabilities on the majority of my investments thereby making a 12%-15% posted rate actually gives 12% -15% not 7.8% less tax as shown by Proplend.
By having flexible secondary market my actual returns are 12-20% APR without any tax liabilities or default risk for the 12% returns. Because of the minimal amounts invested in each loans defaults reduced the highest returning loans from 23% to 20% .
Because of the requirement to avoid tax and have higher returns. any of my investments that give the highest returns (and highest risk) are in FISA as these are held rather than sold. This however means losses (reduced returns) are not tax deductible.
For larger investors that don’t want to actively manage their investments It may be a good option for the smaller investor <£10000
there are far better options giving better returns even with minimal input.
The best way to maximise return is to have all your investments in FISA and manage aggressively.
Proplend appears to be a reasonable choice to be part of a portfolio of P2P platforms for the larger lenders who would like as good as you can get guaranteed monthly return.
I may well include it in the near future.
From all the contributors here over the last few weeks it is very apparent that no one platform meets everybody’s needs.
The only sane choice is maximum diversification and minimal investment in any one loan. Maximum diversification in platforms and maximum management of your portfolio. This gives you optimal returns at minimum risk.
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mjc
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Post by mjc on Dec 16, 2018 15:45:26 GMT
You post 24hrs a day, or so it seems, I have a life to live and so prefer Autoinvest. Hence all my p2p investments are in IFISA and only 5% of those in PL. I diversify to a large extent, as far as possible, unless HNW or PL make it difficult but also unnecessary through quality loans. Trouble with diversification is it is also diworsification, you get some of all the losses!
Yes PL have said they will look at the Autoinvest - so they know it is not fit for purpose now. Shame, as easily corrected!
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