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Post by df on Feb 18, 2019 21:05:09 GMT
5% interest and fee free withdrawal? So its pointless investing in the 3 year product right now when in a few weeks a fee free one will be released at the same rate. Thank for the heads up matt. Looking forward to investing more funds with lending works. I would hope that your 3year portfolio is transferred to the new flexible account. Otherwise, yes, no point in investing in the 3 year account. That could be very awkward, good practice would be to let it run down (like Z did with Access and Classic), but the offer to transfer 3year to flexible fee free will probably be welcomed by most current 3year users.
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Post by gravitykillz on Feb 19, 2019 6:27:51 GMT
From what i gather from matt. This looks like a variable rate product wheras currently what is available is fixed rate.
So depending on supply and demand rates move up and down like rolling in rs.
So if its a completely different product...
But not sure if rates move every minute or every day? Initially he states the rates would be the same as the 3 year 5%.Only matt can clarify the situation.
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Post by gravitykillz on Feb 19, 2019 6:29:43 GMT
But i am presuming the rate you capture is then fixed for the entirety of the loan.
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Post by Matthew on Feb 25, 2019 18:28:11 GMT
From what i gather from matt. This looks like a variable rate product wheras currently what is available is fixed rate. So depending on supply and demand rates move up and down like rolling in rs. So if its a completely different product... But not sure if rates move every minute or every day? Initially he states the rates would be the same as the 3 year 5%.Only matt can clarify the situation. Hi gravitykillzThe rates on this product will work in much the same way as they do on the current products i.e. weekly rate updates. We'll let investors know in advance of the rates for the forthcoming week. Hope this helps.
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zlb
Member of DD Central
Posts: 1,422
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Post by zlb on Feb 25, 2019 20:57:09 GMT
Im sure around 90% of people go for the 5 year market. Considering the withdrawal fee is the same for 3 and 5 year does not make sense to go for the lower rate. Only issue is lower repayments. If the withdrawal fee was lower for the 3 year market im sure more people would go for that. But im sure by the end of 2019 the 3 year market will be 6% and the 5 year 7.5% but lets see. hi, what's "lower repayments"? The 5 year has more volatile/lower repayment owing to it being higher risk??
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Post by gravitykillz on Feb 26, 2019 6:09:36 GMT
No your money is returned in 60 payments rather than 36
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Post by gravitykillz on Apr 30, 2019 5:18:31 GMT
Interesting timing for this thread... We're looking to change our product offering in Q2 of this year - we'll be releasing "Flexible" and "Growth" products rather than the 3-year / 5-year options. Having spoken at length to many of our 3-year investors, they were mostly looking for a shorter-term investment (and 3-year investing was still deemed not short) and were particularly concerned with being able to access funds at potentially short notice. Our new Flexible product will offer fee-free loan sales for early access. More details to follow in due course... Any idea of when roughly this new product will be released ?
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Post by gravitykillz on Jun 6, 2019 11:15:59 GMT
Interesting timing for this thread... We're looking to change our product offering in Q2 of this year - we'll be releasing "Flexible" and "Growth" products rather than the 3-year / 5-year options. Having spoken at length to many of our 3-year investors, they were mostly looking for a shorter-term investment (and 3-year investing was still deemed not short) and were particularly concerned with being able to access funds at potentially short notice. Our new Flexible product will offer fee-free loan sales for early access. More details to follow in due course... Hi Matt Any idea when this product will be released?
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Post by Matthew on Jun 6, 2019 11:20:10 GMT
Interesting timing for this thread... We're looking to change our product offering in Q2 of this year - we'll be releasing "Flexible" and "Growth" products rather than the 3-year / 5-year options. Having spoken at length to many of our 3-year investors, they were mostly looking for a shorter-term investment (and 3-year investing was still deemed not short) and were particularly concerned with being able to access funds at potentially short notice. Our new Flexible product will offer fee-free loan sales for early access. More details to follow in due course... Hi Matt Any idea when this product will be released? Hi gravitykillzWe're rolling out a soft launch of the new products in a few weeks' time to a smaller group of investors (let me know if you'd like to be part of this group) and after a few weeks of testing we'll be rolling it out to all investors during July. Hope this helps.
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oldtimer
Member of DD Central
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Post by oldtimer on Jun 6, 2019 11:26:02 GMT
Hi Matthew what will happen to investments already made in 3 year or 5 year market, will they be absorbed into the new product or remain separate? |
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Post by Matthew on Jun 6, 2019 11:57:36 GMT
Hi Matthew what will happen to investments already made in 3 year or 5 year market, will they be absorbed into the new product or remain separate? Hi oldtimerExisting investments will remain as they are, however any subsequent repayments would need to be reinvested into one of the new products. By default, 3-year investors would become 'Flexible' investors and 5-year investors would become 'Growth' investors, but this is easily changed via your lending settings. The rates on both products will initially be unchanged, however depending on supply/demand this may change. Thanks
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Post by gravitykillz on Jun 6, 2019 12:19:17 GMT
Hi Matt Any idea when this product will be released? Hi gravitykillzWe're rolling out a soft launch of the new products in a few weeks' time to a smaller group of investors (let me know if you'd like to be part of this group) and after a few weeks of testing we'll be rolling it out to all investors during July. Hope this helps. I would like to be part of this group!
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Post by gravitykillz on Jun 6, 2019 12:23:31 GMT
Wow that reply from Matt was alot quicker than I was expecting.
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Post by Matthew on Jun 6, 2019 12:41:16 GMT
Hi gravitykillz We're rolling out a soft launch of the new products in a few weeks' time to a smaller group of investors (let me know if you'd like to be part of this group) and after a few weeks of testing we'll be rolling it out to all investors during July. Hope this helps. I would like to be part of this group! Great - if you email cs@lendingworks.co.uk and let them know, they can add you. Thanks very much.
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Post by gravitykillz on Jul 3, 2019 13:22:14 GMT
I would like to be part of this group! Great - if you email cs@lendingworks.co.uk and let them know, they can add you. Thanks very much. Hi matt Any idea about when this will be released? Still waiting to trial these new products.
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