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Post by davidspindle on Dec 8, 2023 17:33:17 GMT
Lending works will start puchasing your loans on Monday. You can still withdraw cash but this option will close between now and Monday. Your cash will then be locked-in, possibly until February 6.
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Post by df on Dec 8, 2023 21:17:06 GMT
Lending works will start puchasing your loans on Monday. You can still withdraw cash but this option will close between now and Monday. Your cash will then be locked-in, possibly until February 6. "...from 11 December we expect to start selling retail investor-funded loans to Fluro Capital Limited. Loans will be sold sequentially, meaning that you will see your total amount invested reduce in small amounts as funds are returned to your wallet until the sale of your portfolio is complete... While loans are being sold you will be unable to access your account and the Lending Works website will present a maintenance message with our ‘questions and answers’ and contact details visible to you. We expect that you will not be able to access your account between 10:00 and 15:00 on weekdays, outside of this window you can login and use your account as normal."
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mickj
Member of DD Central
Posts: 435 
Likes: 191
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Post by mickj on Dec 13, 2023 17:49:02 GMT
Logging in early evening and most of my investments are sold (80%) and now show as cash in my wallet, be interesting to see how the 20% thats still invested fairs over the next few days.
From 'Transaction History' for December 2023 sums are listed as 'Chunk reassigned via Quick Withdraw' so that maybe Friday :-)
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Post by df on Dec 13, 2023 22:20:02 GMT
Logging in early evening and most of my investments are sold (80%) and now show as cash in my wallet, be interesting to see how the 20% thats still invested fairs over the next few days. From 'Transaction History' for December 2023 sums are listed as 'Chunk reassigned via Quick Withdraw' so that maybe Friday :-) When they've reduced the rate to 4.5% I've turned Friday automatic withdrawal on and login only to update my XIRR. Hardly anything left there 
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mickj
Member of DD Central
Posts: 435
Likes: 191
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Post by mickj on Dec 15, 2023 16:48:46 GMT
I was expecting an automatic withdrawl of the 80% sold & in my wallet. Friday afternoon see all investments sold and cash in wallet, clicked withdraw and quickly found a payment in my bank, nice.
Still a small amount of pending carried over for some reason, pleased to be out of Lending Works.
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Post by df on Dec 15, 2023 17:46:09 GMT
I was expecting an automatic withdrawl of the 80% sold & in my wallet. Friday afternoon see all investments sold and cash in wallet, clicked withdraw and quickly found a payment in my bank, nice. Still a small amount of pending carried over for some reason, pleased to be out of Lending Works. The same here. I've seen 70% of my balance available yesterday and thought my Friday auto-withdrawal will deliver the money today. I normally get 'money transfer settled' e-mail very early in the morning, but it didn't happen so I withdrew money manually. I guess they stopped automatic withdrawals.
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mickj
Member of DD Central
Posts: 435
Likes: 191
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Post by mickj on Dec 22, 2023 10:17:55 GMT
Last bit of 'pending' paid this morning as per usual Friday. So thats me all zero's Hopefully no more emails from Nick telling me how proud he is. |
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Post by woodyalan on Jan 15, 2024 10:13:58 GMT
All balances now zero. Better than some p2p companies!
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Post by df on Jan 15, 2024 20:53:54 GMT
All balances now zero. Better than some p2p companies! Thank you for reminding. I'm so used to automatic Friday withdrawals and forgot that you have to withdraw manually now. My final XIRR is 5.23% as expected. One more spreadsheet to move into my "Crystallised" folder. All platforms in that folder, except BondMason (-0.25%), performed well.
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Post by Ace on Jan 15, 2024 22:15:29 GMT
All balances now zero. Better than some p2p companies! Thank you for reminding. I'm so used to automatic Friday withdrawals and forgot that you have to withdraw manually now. My final XIRR is 5.23% as expected. One more spreadsheet to move into my "Crystallised" folder. All platforms in that folder, except BondMason (-0.25%), performed well. You did better than me. I ended up with an XIRR of 4.64%. Two other accounts I managed ended up with 5.46% and 5.76%. The main reason for the difference was that I took the decision to exit those accounts earlier, so they avoided the long drawn-out and less profitable tail.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Jan 16, 2024 17:40:45 GMT
My last 1p(yes 1p!)sent to my bank today. All accounts now show zero.
Game over.
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Post by indexfund on Jan 18, 2024 11:20:09 GMT
All done this morning, remaining £56 in the isa and £48 in classic. I know alot of people dispise LW, and it's been a long haul, but it's been an ok investment for me. In fact in the early days I really liked their P2P model...
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Jan 18, 2024 12:13:02 GMT
All done this morning, remaining £56 in the isa and £48 in classic. I know alot of people dispise LW, and it's been a long haul, but it's been an ok investment for me. In fact in the early days I really liked their P2P model... Like all p2p platforms, they are all great until they arent. Some of the personal loans I was invested in for fairly hefty amounts only paid the first installment then defaulted. The loan book smacked to me of some serious faults in their credit and background checks. Either way we all move on. Glad most investors if not all have their cash back.
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