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Post by Matthew on Jul 3, 2019 19:39:07 GMT
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. Hi gravitykillzWe're currently testing with internal users before we release to a wider audience - we want to iron out any bugs etc before customers start using it. Everything identified has been minor/cosmetic so we're hopeful of releasing this month. You should hear a further update via email once we're ready to roll out! Speak soon
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zlb
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Post by zlb on Jul 4, 2019 21:24:27 GMT
Matthew, if someone has reinvest 50/50 into each product, will that automatically reinvest split into the two new products? Thanks.
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Post by Matthew on Jul 5, 2019 7:54:41 GMT
Matthew , if someone has reinvest 50/50 into each product, will that automatically reinvest split into the two new products? Thanks. Hi zlbYes, any reinvestments from 3-year will default to Flexible, and any from 5-year will default to Growth. It's important to note, however, that the products are different (for example Flexible investments will lend across all loan terms (2 - 60 months) as opposed to the existing 3-year product which is capped at 36 months), although the rates will initially remain the same as the legacy products. All existing investments i.e. money already on loan will be treated as Growth in that it won't benefit from fee-free loan sales. Hope this helps.
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zlb
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Post by zlb on Jul 5, 2019 19:16:11 GMT
Matthew , if someone has reinvest 50/50 into each product, will that automatically reinvest split into the two new products? Thanks. Hi zlbYes, any reinvestments from 3-year will default to Flexible, and any from 5-year will default to Growth. It's important to note, however, that the products are different (for example Flexible investments will lend across all loan terms (2 - 60 months) as opposed to the existing 3-year product which is capped at 36 months), although the rates will initially remain the same as the legacy products. All existing investments i.e. money already on loan will be treated as Growth in that it won't benefit from fee-free loan sales. Hope this helps. Thanks. If the flexible one invests across all loans, why is that? Thinking aloud, it starts to seem like an assetz capital quick access account. How is it structured? Sorry if this has already been explained.
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Post by Matthew on Jul 8, 2019 7:04:50 GMT
Hi zlb Yes, any reinvestments from 3-year will default to Flexible, and any from 5-year will default to Growth. It's important to note, however, that the products are different (for example Flexible investments will lend across all loan terms (2 - 60 months) as opposed to the existing 3-year product which is capped at 36 months), although the rates will initially remain the same as the legacy products. All existing investments i.e. money already on loan will be treated as Growth in that it won't benefit from fee-free loan sales. Hope this helps. Thanks. If the flexible one invests across all loans, why is that? Thinking aloud, it starts to seem like an assetz capital quick access account. How is it structured? Sorry if this has already been explained. Having interviewed many of our 3-year investors (as opposed to 5-year), what almost all of them were actually looking for was earlier access to their money rather than exposure to shorter term loans. Having two term-based pools also causes unnecessary liquidity challenges e.g. lack of funds available on 3-year investment term means we have to restrict the flow of loans up to 3 years. The new Flexible product will provide fee-free access to money on loan, provided of course there are investors available to purchase your loans. There will be a cool down period after selling loans, to discourage 'rate chasing' whenever the rates move favourably, but other than that it should operate in the same way as current products.
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zlb
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Post by zlb on Jul 9, 2019 9:54:22 GMT
Hi matt Any idea about when this will be released? Still waiting to trial these new products. Hi gravitykillz We're currently testing with internal users before we release to a wider audience - we want to iron out any bugs etc before customers start using it. Everything identified has been minor/cosmetic so we're hopeful of releasing this month. You should hear a further update via email once we're ready to roll out! Speak soon Hi Matthew, just to check, this month you will allow the public to trial the product, or do you mean entire roll-out? I'd like to trial it as I want to invest more and would wait for that event. Thanks.
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Post by df on Jul 9, 2019 18:38:37 GMT
Thanks. If the flexible one invests across all loans, why is that? Thinking aloud, it starts to seem like an assetz capital quick access account. How is it structured? Sorry if this has already been explained. Having interviewed many of our 3-year investors (as opposed to 5-year), what almost all of them were actually looking for was earlier access to their money rather than exposure to shorter term loans. Having two term-based pools also causes unnecessary liquidity challenges e.g. lack of funds available on 3-year investment term means we have to restrict the flow of loans up to 3 years. The new Flexible product will provide fee-free access to money on loan, provided of course there are investors available to purchase your loans. There will be a cool down period after selling loans, to discourage 'rate chasing' whenever the rates move favourably, but other than that it should operate in the same way as current products. The same as RS recent amendment to Rolling. Good idea to stop people gaming the system  I like this change you are making. I've never seen 3-year product at lower rate as an attractive proposition - new Flexible product makes sense. It should compete well in current "instant access" p2p market.
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Post by Matthew on Jul 16, 2019 9:47:20 GMT
Having interviewed many of our 3-year investors (as opposed to 5-year), what almost all of them were actually looking for was earlier access to their money rather than exposure to shorter term loans. Having two term-based pools also causes unnecessary liquidity challenges e.g. lack of funds available on 3-year investment term means we have to restrict the flow of loans up to 3 years. The new Flexible product will provide fee-free access to money on loan, provided of course there are investors available to purchase your loans. There will be a cool down period after selling loans, to discourage 'rate chasing' whenever the rates move favourably, but other than that it should operate in the same way as current products. The same as RS recent amendment to Rolling. Good idea to stop people gaming the system I like this change you are making. I've never seen 3-year product at lower rate as an attractive proposition - new Flexible product makes sense. It should compete well in current "instant access" p2p market. Hi df - we're currently testing with internal users only and we may just roll out to all external users at the same time, partly due to extra complications around having multiple sets of T&Cs etc for the soft launch users. We've comprehensively tested but will of course be seeking as much feedback as possible once we go live.
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ashtondav
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Post by ashtondav on Jul 17, 2019 8:09:01 GMT
From a personal perspective I am reassured by lengthy testing of a financial product. The answer to “when?” Should be: after it has been robustly tested.
Sometimes you can’t put a timescale on such things, and if you’re in a hurry go to the already tried and test RS or AC products.
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