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Post by khampson on Jul 7, 2022 15:26:08 GMT
Hello I am new to Lendwise that lend to students and have a couple of questions for those who already use the platform.
I am registered but I don't see any new loans coming to the market, is this normal or is it just the time of year.
Do you have any issue selling your loans on the secondary market.
and how are you finding the platform, whats the good and the bad.
Thank you.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 7, 2022 17:44:40 GMT
Hello I am new to Lendwise that lend to students and have a couple of questions for those who already use the platform. I am registered but I don't see any new loans coming to the market, is this normal or is it just the time of year. Do you have any issue selling your loans on the secondary market. and how are you finding the platform, whats the good and the bad. Thank you. Can't say I really use the PM ... loans prop up quite randomly & there doesn't seem to be any notification. The think to look for on any loans is when they start paying interest as LW offer some borrowers a forbearance period until they have completed their studies. I haven't used the SM for selling just buying so can't comment on liquidity. My portfolio is entirely loans that have less than 3 years to run so have a payment record. Two are in areas so waiting to see how LW handle them. Platform is OK ... some of the filters don't seem to work and the payment record doesn't indicate which payments haven't been made. Quite difficult to keep track of anything that is in arrears. Seems to take several days for interest to be credited. Loans are amortising so risk decreases over time in theory. Early days but so far seems ok
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jul 9, 2022 16:28:25 GMT
I signed up but decided against, it seemed to me that if you can get in any initial loans you may be able to get interest for a while with pretty much no risk then sell on before any chance of default. But there didn't seem to be any new loans, so you are forced into the SM which seemed like a minefield to me. Anyway I didn't understand the risks fully so gave it a miss. The platform may of course be brilliant!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,833
Likes: 11,060
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Post by ilmoro on Aug 11, 2022 10:55:27 GMT
Currently multiple new loans listed, though most at the lower end of the rates spectrum and long term and all bar one have significant grace periods.
As brief update, all my loans are repaying, including one rescheduled, no defaults, 2 repaid in full - I have increased by funds on the platform
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Greenwood2
Member of DD Central
Posts: 4,239
Likes: 2,684
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Post by Greenwood2 on Aug 11, 2022 12:35:01 GMT
Currently multiple new loans listed, though most at the lower end of the rates spectrum and long term and all bar one have significant grace periods. As brief update, all my loans are repaying, including one rescheduled, no defaults, 2 repaid in full - I have increased by funds on the platform Can't see any now. Did you get any notification of new loans?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,833
Likes: 11,060
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Post by ilmoro on Aug 11, 2022 12:57:54 GMT
Currently multiple new loans listed, though most at the lower end of the rates spectrum and long term and all bar one have significant grace periods. As brief update, all my loans are repaying, including one rescheduled, no defaults, 2 repaid in full - I have increased by funds on the platform Can't see any now. Did you get any notification of new loans? No, no notifications - there was one last night and then about 10 listed this morning. I cant remember if they were all hardly filled or nearly filled (there were %s but didnt look the see what they meant) Could be that autolend kicked in and hoovered everything up. Ive had one autolend investment in a primary loan before (none of these met my criteria so cant confirm if AL bought) I would expect quite a few loans to appear over the next month or so as postgrads begin/prepare for courses Autolend has deployed 50% of the fund I added into loans on the SM in the last hour
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Greenwood2
Member of DD Central
Posts: 4,239
Likes: 2,684
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Post by Greenwood2 on Aug 11, 2022 13:17:22 GMT
Can't see any now. Did you get any notification of new loans? No, no notifications - there was one last night and then about 10 listed this morning. I cant remember if they were all hardly filled or nearly filled (there were %s but didnt look the see what they meant) Could be that autolend kicked in and hoovered everything up. Ive had one autolend investment in a primary loan before (none of these met my criteria so cant confirm if AL bought) I would expect quite a few loans to appear over the next month or so as postgrads begin/prepare for courses Autolend has deployed 50% of the fund I added into loans on the SM in the last hour I guess people are buying new and selling old loans
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,833
Likes: 11,060
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Post by ilmoro on Aug 12, 2022 20:43:23 GMT
Greenwood2 currently 4 loans listed on PM, one is 75% filled, rest under 10% (beware first repayment dates)
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