Greenwood2
Member of DD Central
Posts: 4,327
Likes: 2,746
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Post by Greenwood2 on Jul 18, 2024 5:56:44 GMT
Hi All, I’m new to Elfin Market. Does anyone have any experience any how the early withdrawals work and how liquid it is? It's mentioned it's possible in the FAQ but I don't see a specific way to sell my loans; do you just ask to withdraw it and they match with another investor if available? I have emailed them about a week ago to ask this but despite them passing to another department to check; I've not yet had a reply. Cheers, Frank
Has always been pretty much instant for me. Just do a withdrawal, order of funds withdrawn will be cash, then oldest first (and standard before ISA, logically protecting you from withdrawing ISA funds accidentally) always has been for me anyway.
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Post by Ace on Jul 18, 2024 7:19:55 GMT
Queue is now between March 2022 and April 2022.
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Post by birdie on Jul 18, 2024 9:31:13 GMT
Due to health I have been making a few withdrawals recently from Elfin and its almost instant, I wish I didn't have to because I've always been so happy with Elfin.
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benaj
Member of DD Central
Posts: 5,308
Likes: 1,675
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Post by benaj on Jul 18, 2024 13:36:45 GMT
Hi All, I’m new to Elfin Market. Does anyone have any experience any how the early withdrawals work and how liquid it is? It's mentioned it's possible in the FAQ but I don't see a specific way to sell my loans; do you just ask to withdraw it and they match with another investor if available? I have emailed them about a week ago to ask this but despite them passing to another department to check; I've not yet had a reply. Cheers, Frank
I joined Elfin last year and definitely happy to see the “liquidity” so far like other lenders experienced. Automatic interest withdrawal is always on schedule and making withdrawal in normal condition is pretty quick. The only thing I wish could be faster is customer service. Checking on LinkedIn, it seems Allison has been working for Elfin 3 years and pretty much look after “every things”. My enquiry in November was replied in December.
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Post by Ace on Jul 19, 2024 7:35:30 GMT
Queue is now between Nov 2022 and Dec 2022.
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Post by overthehill on Jul 19, 2024 10:47:12 GMT
Queue is now between Nov 2022 and Dec 2022.
What does this actually mean, my only formed conclusion seems so unlikely. Surely it doesn't mean investors have uninvested money sitting in a queue earning no interest since Nov 2022.
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Post by Ace on Jul 19, 2024 11:01:11 GMT
Queue is now between Nov 2022 and Dec 2022.
What does this actually mean, my only formed conclusion seems so unlikely. Surely it doesn't mean investors have uninvested money sitting in a queue earning no interest since Nov 2022. Sorry, I should have quoted the previous post that it relates to ( p2pindependentforum.com/post/496505/thread). When interest is set to be reinvested it is done so in investment time order. With monthly interest from oldest investments reinvested first. I have a large number of small investments spread over the last 3 years, so I was simply monitoring how long it took for the monthly interest from investments to be reinvested. The interest from my Nov 2022 investment (and all earlier investments) has now been reinvested, but the interest from my Dec 2022 investment (and all later investments) has not yet been reinvested. So the queue of interest payments that were paid on 15th July is somewhere between those two dates. All new funds deposited for investment before the 15th of July will have already been deployed. I presume that all new funds deposited after that date are now waiting in the queue behind all of July's interest payments.
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Post by Ace on Jul 20, 2024 7:00:01 GMT
The interest from my investments started in Sep 2021 and Dec 2021 was invested overnight. The interest from my Mar 2022 investment has not yet been invested. So, the queue is now somewhere between Dec 2021 investments and Mar 2022 investments. The queue is now somewhere between March 2023 and May 2023.
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Post by df on Jul 20, 2024 13:36:26 GMT
The interest from my investments started in Sep 2021 and Dec 2021 was invested overnight. The interest from my Mar 2022 investment has not yet been invested. So, the queue is now somewhere between Dec 2021 investments and Mar 2022 investments. The queue is now somewhere between March 2023 and May 2023. I was in queue this morning, checked now and it shows "In Queue: £0.00". So it was 5 days in queue for me. This investment was reinvested on 15th June 2023.
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Post by Ace on Jul 20, 2024 14:41:54 GMT
The queue is now somewhere between March 2023 and May 2023. I was in queue this morning, checked now and it shows "In Queue: £0.00". So it was 5 days in queue for me. This investment was reinvested on 15th June 2023. Yes, the queue is somewhere between Jul 2023 and Sep 2023 now.
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Post by Ace on Jul 22, 2024 7:45:49 GMT
I was in queue this morning, checked now and it shows "In Queue: £0.00". So it was 5 days in queue for me. This investment was reinvested on 15th June 2023. Yes, the queue is somewhere between Jul 2023 and Sep 2023 now. The queue is now somewhere between Nov 2023 and Apr 2024.
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Post by erniec on Jul 22, 2024 10:44:37 GMT
Yes, the queue is somewhere between Jul 2023 and Sep 2023 now. The queue is now somewhere between Nov 2023 and Apr 2024. Feb 24 just now.
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Post by Ace on Jul 24, 2024 11:42:22 GMT
The queue is now somewhere between Nov 2023 and Apr 2024. Feb 24 just now. All of my July interest is now fully deployed. So the queue is now beyond my last investment, which was on the 27th June.
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Post by erniec on Jul 25, 2024 14:37:28 GMT
All of my July interest is now fully deployed. So the queue is now beyond my last investment, which was on the 27th June. A very large re-investment (£18K) in July was completed yesterday. This means all monies were re-invested in around 9 days.
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Post by Ace on Jul 29, 2024 7:41:19 GMT
I made a new investment at around 16:00 yesterday. The funds were credited to my account and placed in the queue instantly. All funds are now (08:40 the following day) fully deployed.
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