blueninja
Member of DD Central
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Post by blueninja on Dec 17, 2017 19:32:43 GMT
I am happy with relendex; solid loans, not the best % return but acceptable at about 9% Is that 9% the headline rate or after defaults?
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james21
Member of DD Central
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Post by james21 on Dec 17, 2017 21:09:38 GMT
as far as I know there re no defaults
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Nomad
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Post by Nomad on Dec 18, 2017 0:39:14 GMT
Hi IFISAcava , The auto-partitioning is a feature that we are working on but it is not ready yet. There will definitely be an announcement made to all registered on our platform when the feature goes live. Regards, WengYee Is there any update on this long-awaited feature being made available? If it was actually being worked on at the start of August, one wonders how much longer it will take to come to fruition...
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Nomad
Member of DD Central
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Post by Nomad on Dec 18, 2017 0:42:32 GMT
- Depositing funds seem to take a while to become available for investment. Sending mid-afternoon with no acknowledgement until the following day AFTER I chased up with a PM. Compare with Col or MT or LI or ABL where funds are available within minutes. - There does not appear to be a news or feedback facility to update the status of loans. Len, Col, MT, ABL all have this facility (though some may argue they don't use it as frequently as they should). This lack has been highlighted recently by another posting to this forum asking about missing interest payments in the Gr Manchester Br Loan. Why should we need to rely on forum postings to get a status update of something unusual? I share these valid concerns and would welcome some substantive comments in response from the platform.
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Post by wengyeeRelendex on Dec 19, 2017 2:24:16 GMT
Hi all,
Just a quick response to address your questions here. I will discuss this with management (when I'm back from annual leave in the new year) to provide a more substantive response.
1. With regards to auto-partitioning, I'm afraid it has been delayed due to other features being prioritised. There are also some major changes going on in the tech team so there's been a slowdown in delivery.
2. All deposits are only processed during working hours between 9am - 4.30pm due to our banking system (NatWest). I am aware that we are looking to move elsewhere that will allow us to process deposits more efficiently.
3. The team are currently in discussion about how best to provide loan updates. Most likely we are looking to provide updates on the entire loanbook on a monthly basis.
If you ever have any questions, please do email lender-support@relendex.com as we do provide more in-depth answers to registered lenders. We are limited to what we can say to a general forum.
Thank you, WengYee
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ant1
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Post by ant1 on Dec 19, 2017 11:28:20 GMT
Loan updates would be very helpful, both for monitoring our investments and also for when considering purchasing loan parts on the secondary market.
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kaya
Member of DD Central
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Post by kaya on Dec 19, 2017 11:40:49 GMT
Hmm, thinking about this one. A nice incentive for signing up would be very useful indeed!
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hantsowl
Member of DD Central
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Post by hantsowl on Dec 19, 2017 12:07:08 GMT
Hi all, Just a quick response to address your questions here. I will discuss this with management (when I'm back from annual leave in the new year) to provide a more substantive response. 1. With regards to auto-partitioning, I'm afraid it has been delayed due to other features being prioritised. There are also some major changes going on in the tech team so there's been a slowdown in delivery. 2. All deposits are only processed during working hours between 9am - 4.30pm due to our banking system (NatWest). I am aware that we are looking to move elsewhere that will allow us to process deposits more efficiently. 3. The team are currently in discussion about how best to provide loan updates. Most likely we are looking to provide updates on the entire loanbook on a monthly basis. If you ever have any questions, please do email lender-support@relendex.com as we do provide more in-depth answers to registered lenders. We are limited to what we can say to a general forum. Thank you, WengYee Thanks for the update. With regard these points.... 1. Not sure what other features have priority, but this would probably be highest for me. 2. I will admit that my latest deposit was available for investment within a couple of hours. Not up to the MT or Col standard, but perfectly acceptable. 3. Update summaries on a monthly basis would be good. However, significant changes to any particular loan needs to be communicated ASAP and to the entire investor base. Those not holding the loan may be considering a SM purchase and this info could be critical. The GMBL issue mentioned in another thread here is a perfect case in point. wengyeeRelendex
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gon
Member of DD Central
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Post by gon on Mar 14, 2018 15:29:07 GMT
Hi
Any updates on providing lenders with regular ie. monthly updates on all loans please?
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ant1
Member of DD Central
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Post by ant1 on Mar 17, 2018 10:50:19 GMT
In terms of new developments I'm not too concerned about auto-partitioning of loans on the secondary market as regular investors that may choose to sell on the secondary market tend to make their initial investment as multiple purchases of varying sizes to enable them to place a practical sized amount on the secondary market.
But updates on ongoing loans would be a huge improvement as it would both reassure investors and also help people assess whether to invest in loans placed on the secondary market.
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maotw
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Post by maotw on Mar 19, 2018 10:53:22 GMT
I too would like updates - particularly on loans that are diverging from their 'term sheets'.
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Post by pennyrelendex on Mar 20, 2018 12:10:50 GMT
Hi maotw ant1 gon I've tried to provide as much clarity as I can at this stage on the 3 points raised: 1. With regards to auto-partitioning, I'm afraid it has been delayed due to other features being prioritised. There are also some major changes going on in the tech team so there's been a slowdown in delivery.
- Something I believe has not been shared is that we are currently building a completely new platform. This is an entirely new architecture, with some great new features to completely improve the user journey both on a desktop and mobile platforms. This is something we identify as necessary for our lenders as we are aware of some of the pain points of the current site.
Since we are building this new platform, it will be several months before we will be able to deliver auto-partitioning will be able to be deployed. We regard this as an important feature for auctions & Resale Marketplace and it is absolutely on our priority list for deployment as soon as we are able to implement within the new platform.
We will ensure all are kept up to date across all of our communication touchpoints be that via email/social or within our forum, so rest assured you will know as soon as this feature is implemented.
2. All deposits are only processed during working hours between 9am - 4.30pm due to our banking system (NatWest).
- We are aware that there is room for improvement in this area and we are exploring a more comprehensive electronic banking solution and we hope to be able to make an announcement on this change shortly in this regard.
Again, we will ensure this is communicated to all once introduced and your feedback on this new solution would be encouraged.
3. The team are currently in discussion about how best to provide loan updates. Most likely we are looking to provide updates on the entire loanbook on a monthly basis.
- We are currently working on a systems design for this updating process and we need to make sure we are as comprehensive as possible. This may still take a little while to implement but in the meantime should you require any specific updates or if you have a query that goes beyond our FAQ section, our Lender Support team are always on hand and you can reach them via email lender-support@relendex.com or via phone +44(0)20 7729 0070.
I hope the above provides some additional clarity on the points raised, as you will appreciate it's difficult to give exact deployment dates given the mass improvements we are currently implementing - Penny
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IFISAcava
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Post by IFISAcava on May 11, 2018 5:46:20 GMT
I like the platform in general, but am having difficulties getting some more ISA funds transferred in - they have been slower than most platforms with previous transfers, and a recent request has been several weeks with no apparent action and no response or acknowledgement to my subsequent chasing messages.
Given recent events in P2P, when there is non-communication one starts to wonder about general platform management and what might be going on behind the scenes, and now considering whether I want to keep existing funds here.
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mrsb
Posts: 196
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Post by mrsb on May 11, 2018 8:23:25 GMT
Communication from Relendex is not the best, and when it comes, it can sometimes be a fob-off - sometimes with (IMO) ambitiously low levels of credibility.
However, I don't think it's a case of "no news is bad news". The risk is the usual risk of not making a full recovery if things go wrong, otherwise loans appear well founded and secured.
But - I'm amazed that the latest auction has filled-up so well, the VR contains cautions, and for a valuer to be cautious (when mindless optimism is more usual) - added with the fact that the borrower is not guaranteeing "all sums due ..." means it's a swerve for me. Some more promising ones lined-up in the coming soon section.
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Post by pennyrelendex on May 11, 2018 8:26:58 GMT
I like the platform in general, but am having difficulties getting some more ISA funds transferred in - they have been slower than most platforms with previous transfers, and a recent request has been several weeks with no apparent action and no response or acknowledgement to my subsequent chasing messages. Given recent events in P2P, when there is non-communication one starts to wonder about general platform management and what might be going on behind the scenes, and now considering whether I want to keep existing funds here. Sorry to hear you've been having some issues on the platform IFISAcava. Please check your dm's. Thanks, Penny
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