benaj
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Post by benaj on Mar 18, 2019 17:21:25 GMT
So not really a good time to join WL? I started a new investment of £200 a few days ago, so far 60% filled. I would give mine at least a week to monitor the situation. The WLU demand is a cycle, and I believe we are not near pay day yet.
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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 Mar 18, 2019 17:27:59 GMT
My brother has cash lag of £2000+ nothing invested in over a month . CS say no issues I had 8 loans today he has none added in over a month. PM to nizam no response. So not really a good time to join WL? Well I had 35 loans allocated since Friday so no logic. I have <1% queued .
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liso
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Post by liso on Mar 18, 2019 18:56:05 GMT
Likewise. Today I withdrew everything but 1K, and almost all was in my account within an hour. Too much cash drag, a platform that is opaque and convoluted in how it works, and the inability to withdraw only idle funds, finally got too much trouble for the return. I am looking to invest with WL....I just wanted clarification what you meant by not being able to withdraw idle funds? So if I have cash drag of say 1K and I want to withdraw this into my bank account, it is not possible to do this? Correct. Unless there has been a very recent change (and AFAIK there hasn't been) it is not possible number5
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number5
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Post by number5 on Mar 18, 2019 19:12:03 GMT
I am looking to invest with WL....I just wanted clarification what you meant by not being able to withdraw idle funds? So if I have cash drag of say 1K and I want to withdraw this into my bank account, it is not possible to do this? Correct. Unless there has been a very recent change (and AFAIK there hasn't been) it is not possible number5So does each deposit count as an investment? If I deposit £100, I can withdraw the full £100 If I deposit £2,000, I cannot then withdraw only £100 of that?
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benaj
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Post by benaj on Mar 18, 2019 19:14:05 GMT
To clarify, withdraw the “entire” investment with all the idle fund within that investment part is super easy, as but the accrued interest won’t be passed by on.
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benaj
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Post by benaj on Mar 18, 2019 19:18:07 GMT
Correct. Unless there has been a very recent change (and AFAIK there hasn't been) it is not possible number5So does each deposit count as an investment? If I deposit £100, I can withdraw the full £100 If I deposit £2,000, I cannot then withdraw only £100 of that? each investment has its own unique reference number. when you assign money to a new investment, say £100, you can withdraw £100 right away and that investment will be no longer in your portfolio. if you split £2000 into 20 investments, you can withdraw each investment any time. say withdrawing 1 investment, you have 19 investment left, and the money sold from the investment can be reinvest or back to your bank account
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number5
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Post by number5 on Mar 18, 2019 19:39:50 GMT
To clarify, withdraw the “entire” investment with all the idle fund within that investment part is super easy, as but the accrued interest won’t be passed by on. Ok great thanks...I think it is clearer. However, do you mean if you sell an investment early you earn no interest? This goes to the person who buys the loan? Is interest paid at the end of the loan term only?
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Post by df on Mar 18, 2019 19:50:42 GMT
Correct. Unless there has been a very recent change (and AFAIK there hasn't been) it is not possible number5 So does each deposit count as an investment?If I deposit £100, I can withdraw the full £100 If I deposit £2,000, I cannot then withdraw only £100 of that? I can be. In case of £100 deposit, you can only assign it to one investment because £100 is a minimum per investment. If you deposit £200, you can either split them into two investments or make it one £200 investment. And so on. If you deposit £2000 you can choose how many investments you want to make out of it as long as they are in multiples of 100. My preference is to split £2000 into 20 £100 investments, others prefer larger chunks.
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number5
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Post by number5 on Mar 18, 2019 19:54:34 GMT
So does each deposit count as an investment?If I deposit £100, I can withdraw the full £100 If I deposit £2,000, I cannot then withdraw only £100 of that? I can be. In case of £100 deposit, you can only assign it to one investment because £100 is a minimum per investment. If you deposit £200, you can either split them into two investments or make it one £200 investment. And so on. If you deposit £2000 you can choose how many investments you want to make out of it as long as they are in multiples of 100. My preference is to split £2000 into 20 £100 investments, others prefer larger chunks. Cheers guys...I think I get the hang of this part of it now Would you mind clarifying the above for me in relation to interest payments? Sorry for all the questions!
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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 Mar 18, 2019 20:09:28 GMT
So not really a good time to join WL? Well I had 35 loans allocated since Friday so no logic. I have <1% queued . CS are going to investigate I will keep you all updated. Hopefully just growing pains that can be overcome
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Post by Ace on Mar 18, 2019 21:54:20 GMT
To clarify, withdraw the “entire” investment with all the idle fund within that investment part is super easy, as but the accrued interest won’t be passed by on. Ok great thanks...I think it is clearer. However, do you mean if you sell an investment early you earn no interest? This goes to the person who buys the loan? Is interest paid at the end of the loan term only? I haven't actually tried it, but my understanding is that you get to keep all interest that has already been paid (many pay something monthly, though payments are sometimes at ad hoc). You forgo all accrued interest that has not yet been paid.
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number5
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Post by number5 on Mar 19, 2019 19:09:03 GMT
So does each deposit count as an investment?If I deposit £100, I can withdraw the full £100 If I deposit £2,000, I cannot then withdraw only £100 of that? I can be. In case of £100 deposit, you can only assign it to one investment because £100 is a minimum per investment. If you deposit £200, you can either split them into two investments or make it one £200 investment. And so on. If you deposit £2000 you can choose how many investments you want to make out of it as long as they are in multiples of 100. My preference is to split £2000 into 20 £100 investments, others prefer larger chunks. To do this, do you have to asign £100 20 times, saving the setting each time after selecting your rate range? As opposed to asigning £2000 and selecting your rate range and saving once? Do you use the auto diversify function? All very confusing starting again with a new platform!
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Post by df on Mar 19, 2019 21:17:58 GMT
I can be. In case of £100 deposit, you can only assign it to one investment because £100 is a minimum per investment. If you deposit £200, you can either split them into two investments or make it one £200 investment. And so on. If you deposit £2000 you can choose how many investments you want to make out of it as long as they are in multiples of 100. My preference is to split £2000 into 20 £100 investments, others prefer larger chunks. To do this, do you have to asign £100 20 times, saving the setting each time after selecting your rate range? As opposed to asigning £2000 and selecting your rate range and saving once? Do you use the auto diversify function? All very confusing starting again with a new platform! Yes, you will have to assign £100 20 times. This can take a couple of minutes, but the benefit is - you can do partial withdrawals in future if you need to. I use auto diversify. Normally keep it at 10%, but occasionally increase if investment is stuck or return is larger than my 10% allowance. However, I don't think maximum diversification matters that much because PF will cover the loss anyway. In theory, if you set diversification at 20% you shouldn't be at more risk than setting it at 10%. It can be confusing, particularly with WL - mechanics are quite different from other platforms. But it shouldn't take too long to get some hang of it.
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number5
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Post by number5 on Mar 19, 2019 21:30:17 GMT
To do this, do you have to asign £100 20 times, saving the setting each time after selecting your rate range? As opposed to asigning £2000 and selecting your rate range and saving once? Do you use the auto diversify function? All very confusing starting again with a new platform! Yes, you will have to assign £100 20 times. This can take a couple of minutes, but the benefit is - you can do partial withdrawals in future if you need to. I use auto diversify. Normally keep it at 10%, but occasionally increase if investment is stuck or return is larger than my 10% allowance. However, I don't think maximum diversification matters that much because PF will cover the loss anyway. In theory, if you set diversification at 20% you shouldn't be at more risk than setting it at 10%. It can be confusing, particularly with WL - mechanics are quite different from other platforms. But it shouldn't take too long to get some hang of it. Really appreciate all your help! I have asigned several K in £100's for last few hours but so far nothing has been lent. I have set my rate range to 10-15% Is that too high from experience?
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Post by df on Mar 19, 2019 22:03:11 GMT
Yes, you will have to assign £100 20 times. This can take a couple of minutes, but the benefit is - you can do partial withdrawals in future if you need to. I use auto diversify. Normally keep it at 10%, but occasionally increase if investment is stuck or return is larger than my 10% allowance. However, I don't think maximum diversification matters that much because PF will cover the loss anyway. In theory, if you set diversification at 20% you shouldn't be at more risk than setting it at 10%. It can be confusing, particularly with WL - mechanics are quite different from other platforms. But it shouldn't take too long to get some hang of it. Really appreciate all your help! I have asigned several K in £100's for last few hours but so far nothing has been lent. I have set my rate range to 10-15% Is that too high from experience? Not too high, 10-15% is how I usually set my new investments. If nothing or very little is invested in 12-24 hours, I lower the rate. I'm not scared of setting the rate low, I've opened the gate to full width few times and the proportion of lower end rate/risk loans was very small. Have a look at it tomorrow. If there's no progress, try lowering rates on some or all of them and see how it goes.
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