benaj
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Post by benaj on Mar 25, 2019 17:43:25 GMT
Is there a way of knowing how much accrued interest there is in an investment prior to making the decision to withdraw? I suppose it can only done by manual calculation from each loan contract. Each loan agreement states the total interest earned if borrower repays on the exact day. However, a majority of borrowers do repay loans early and every borrowers have different repayment dates. You are likely to lose more accrued interest when withdrawing investment at the time majority of borrowers have not completed the loans within investment / loans have not yet acquired by PF but in arrears. It is highly like the investment haven't "earned" enough interest during the 3 first months. Your investment will receive more "earned" interest and PF bonus after 6 months.
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number5
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Post by number5 on Mar 25, 2019 17:49:32 GMT
Is there a way of knowing how much accrued interest there is in an investment prior to making the decision to withdraw? I suppose it can only done by manual calculation from each loan contract. Each loan agreement states the total interest earned if borrower repays on the exact day. However, a majority of borrowers do repay loans early and every borrowers have different repayment dates. You are likely to lose more accrued interest when withdrawing investment at the time majority of borrowers have not completed the loans within investment / loans have not yet acquired by PF but in arrears. Thank's for clarifying, so there isn't really any way of seeing this...you could end up forgoing an investment with a lot accrued, when one with not a lot would have been the better option. There seem to be quite a few holes in the model I am coming across as I get to learn the platform. From my experience of other platforms I would have expected some things, which are not available on WLU
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Post by df on Mar 25, 2019 18:51:16 GMT
I suppose it can only done by manual calculation from each loan contract. Each loan agreement states the total interest earned if borrower repays on the exact day. However, a majority of borrowers do repay loans early and every borrowers have different repayment dates. You are likely to lose more accrued interest when withdrawing investment at the time majority of borrowers have not completed the loans within investment / loans have not yet acquired by PF but in arrears. Thank's for clarifying, so there isn't really any way of seeing this...you could end up forgoing an investment with a lot accrued, when one with not a lot would have been the better option. There seem to be quite a few holes in the model I am coming across as I get to learn the platform. From my experience of other platforms I would have expected some things, which are not available on WLU Yes, WLU is quite different from other platforms... It provides with easy exit mechanism, but not really designed for those who prefer bouncing funds in and out on a regular basis. AC's access accounts are good for this purpose.
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number5
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Post by number5 on Mar 25, 2019 19:06:24 GMT
Thank's for clarifying, so there isn't really any way of seeing this...you could end up forgoing an investment with a lot accrued, when one with not a lot would have been the better option. There seem to be quite a few holes in the model I am coming across as I get to learn the platform. From my experience of other platforms I would have expected some things, which are not available on WLU Yes, WLU is quite different from other platforms... It provides with easy exit mechanism, but not really designed for those who prefer bouncing funds in and out on a regular basis. AC's access accounts are good for this purpose. True...although I guess AC's % are a lot lower than WLU
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Post by df on Mar 25, 2019 19:31:54 GMT
Yes, WLU is quite different from other platforms... It provides with easy exit mechanism, but not really designed for those who prefer bouncing funds in and out on a regular basis. AC's access accounts are good for this purpose. True...although I guess AC's % are a lot lower than WLU Yes of course. 4.1% for instant, 5.1% for 30 days notice and 5.75% for 90 days notice. WLU delivers far much better rates to lenders, that's why some small inconvenience can be easily put up with. I think nsiam has recently mentioned on this board, but I just want to second it. I've been with WLU from the start (dec 2017) and witnessed a great deal of improvements since. It's a young platform and fine-tuning is still in the process...
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number5
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Post by number5 on Mar 25, 2019 19:47:33 GMT
True...although I guess AC's % are a lot lower than WLU Yes of course. 4.1% for instant, 5.1% for 30 days notice and 5.75% for 90 days notice. WLU delivers far much better rates to lenders, that's why some small inconvenience can be easily put up with. I think nsiam has recently mentioned on this board, but I just want to second it. I've been with WLU from the start (dec 2017) and witnessed a great deal of improvements since. It's a young platform and fine-tuning is still in the process... One thing I have noticed is when I had larger amount of funds un matched in my account, the matching process was quicker and when majority of it has been matched it seems to slowdown. If that is the case is it better to top it up prior to the run down or is this just a coincidence sunday/today?
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Post by df on Mar 25, 2019 20:37:05 GMT
Yes of course. 4.1% for instant, 5.1% for 30 days notice and 5.75% for 90 days notice. WLU delivers far much better rates to lenders, that's why some small inconvenience can be easily put up with. I think nsiam has recently mentioned on this board, but I just want to second it. I've been with WLU from the start (dec 2017) and witnessed a great deal of improvements since. It's a young platform and fine-tuning is still in the process... One thing I have noticed is when I had larger amount of funds un matched in my account, the matching process was quicker and when majority of it has been matched it seems to slowdown. If that is the case is it better to top it up prior to the run down or is this just a coincidence sunday/today? It's rather unpredictable, there many factors that can affect the speed of your funds being lent. Everyone has their own strategy, I tend to move in slow. I would see the existing investments fully matched before adding any new funds, but that's not necessarily the best strategy.
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number5
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Post by number5 on Mar 25, 2019 20:49:19 GMT
One thing I have noticed is when I had larger amount of funds un matched in my account, the matching process was quicker and when majority of it has been matched it seems to slowdown. If that is the case is it better to top it up prior to the run down or is this just a coincidence sunday/today? It's rather unpredictable, there many factors that can affect the speed of your funds being lent. Everyone has their own strategy, I tend to move in slow. I would see the existing investments fully matched before adding any new funds, but that's not necessarily the best strategy. That is the strategy I am applying as well at the moment...however that was just an observation I made
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Post by Ace on Mar 25, 2019 21:00:06 GMT
Is there a way of knowing how much accrued interest there is in an investment prior to making the decision to withdraw? I suppose it can only done by manual calculation from each loan contract. Each loan agreement states the total interest earned if borrower repays on the exact day. However, a majority of borrowers do repay loans early and every borrowers have different repayment dates. You are likely to lose more accrued interest when withdrawing investment at the time majority of borrowers have not completed the loans within investment / loans have not yet acquired by PF but in arrears. It is highly like the investment haven't "earned" enough interest during the 3 first months. Your investment will receive more "earned" interest and PF bonus after 6 months. According to the T&Cs (sections 15.3 & 15.4) it is not true that you lose accrued interest when selling loans. nsiam confirmed this higher up this thread.
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nick
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Post by nick on May 31, 2019 16:29:42 GMT
I suppose it can only done by manual calculation from each loan contract. Each loan agreement states the total interest earned if borrower repays on the exact day. However, a majority of borrowers do repay loans early and every borrowers have different repayment dates. You are likely to lose more accrued interest when withdrawing investment at the time majority of borrowers have not completed the loans within investment / loans have not yet acquired by PF but in arrears. It is highly like the investment haven't "earned" enough interest during the 3 first months. Your investment will receive more "earned" interest and PF bonus after 6 months. According to the T&Cs (sections 15.3 & 15.4) it is not true that you lose accrued interest when selling loans. nsiam confirmed this higher up this thread. I believe you are mistaken re loss of accrued interest on sale. nsiam stated higher up the thread "all earned interest from repayments made is earned. Exist fees and costs are zero. When withdrawing, you will only lose due interest on future/unpaid repayments." - the loss of interest on future/unpaid repayments represents the loss of accrued interest (ie interest 'earnt' but not paid). This was my experience when recently making a withdrawal, the withdrawal amount did not include "earnt" interest on loan parts sold, only interest that had paid out plus provision fund payments which are credited separately to unassigned funds. This does seem to contradict section 15.3 of the T&Cs which I intend to query.
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number5
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Post by number5 on Jun 3, 2019 17:06:36 GMT
I made my 3rd withdrawal this afternoon around 3pm....previously the funds have been in my account very promptly. However today, 3 hours later they are still not there...
How have the withdrawal times been for others in general/today?
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michaelc
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Post by michaelc on Jun 3, 2019 17:33:52 GMT
I made my 3rd withdrawal this afternoon around 3pm....previously the funds have been in my account very promptly. However today, 3 hours later they are still not there... How have the withdrawal times been for others in general/today? Sometimes its near instant. Other times it can take weeks due to as I understand it one of the loans being late. I'm in that latter position now. It is very annoying that queued funds can't be withdrawn if they are part of an "investment" that includes a single late loan.
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number5
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Post by number5 on Jun 3, 2019 17:49:03 GMT
No no, I do have other amounts which are stuck in the pending withdrawal section. But usually the remaining balance is in my account nearly instantly
right now I am missing the whole withdrawal amount
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number5
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Post by number5 on Jun 4, 2019 6:16:02 GMT
nsiam can you pleaae confirm where my withdrawal funds have gone? I withdrew over 18 hours ago, and part of the funds were ready to withdraw and the remaining were succesfully sold. i received the notification the withdrawal was complete. The money is still not in my bank account and I have emailed your support team but not had a reply. With thw recent changes I am concerned something has gone wrong in the process?
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nick
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Post by nick on Jun 4, 2019 8:55:54 GMT
nsiam can you pleaae confirm where my withdrawal funds have gone? I withdrew over 18 hours ago, and part of the funds were ready to withdraw and the remaining were succesfully sold. i received the notification the withdrawal was complete. The money is still not in my bank account and I have emailed your support team but not had a reply. With thw recent changes I am concerned something has gone wrong in the process? The withdrawal I made last week where all my loans were instantly sold, took about 24 hrs to reach my bank account.
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