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16-12-2016, 01:52 PM
#571
Originally Posted by Ellipsis
Thanks guys. I am with ASB and have not had problems before. Might give them a call.
ASB to ASB is instant these days.
Aedi can sometmes clear the same day with a call or Email to let her know you have done a Xfer.
Trust you will get it sorted out soon.
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16-12-2016, 06:22 PM
#572
Member
Originally Posted by PennyPicker
Yes. I too had somewhat relied on the same day clearance for deposits. In the past month maybe, it's now taken 2-3 working days to clear. (Disc, I'm with Westpac.)
My last one this week from ANZ to LC was over a day to process by LC. I had hoped same day but it seems to have taken a touch longer this week
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19-12-2016, 05:28 PM
#573
Member
Yeah actually got in, in time for a loan. It is still open. Usually I have been missing out of late.
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20-12-2016, 09:31 AM
#574
Junior Member
Has the fact that LC reported no write-offs in their first year influence your investing? I find myself looking an investment opportunity over, having some questions about how good it might be and then saying to myself -"but they had not write-off"
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20-12-2016, 10:27 AM
#575
Member
Originally Posted by DonB
Has the fact that LC reported no write-offs in their first year influence your investing? I find myself looking an investment opportunity over, having some questions about how good it might be and then saying to myself -"but they had not write-off"
Odds are they will have writeoffs in time. It does influence me sublimely but deep down I try to ignore this and invest without that knowledge.
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20-12-2016, 01:20 PM
#576
Originally Posted by whitt
Odds are they will have write offs in time. It does influence me sublimely but deep down I try to ignore this and invest without that knowledge.
Lending Crowd are only 'Human' too. So one day yes they will surely have to release\ issue a Write Off to the Investors. ( It will be a big shock to us all....... And Them! )
However you got to agree both their Borrower selections criteria and their Arrears collection procedures are working correctly right now
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20-12-2016, 03:21 PM
#577
Member
The last week or two there seems to have been more listings which is good
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21-12-2016, 11:23 AM
#578
Member
I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...
It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)
The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.
In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.
Sounds good or silly?
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21-12-2016, 12:06 PM
#579
Originally Posted by PennyPicker
I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...
It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)
The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.
In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.
Sounds good or silly?
Hi 'PP' > Yes it's Xmas however I somehow don't think Wayne will give you a Ho Ho Ho!
I get what you are saying but I guess it will stay as a 'Cash Up Front' basis.
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21-12-2016, 01:43 PM
#580
Originally Posted by Saamee
Hi 'PP' > Yes it's Xmas however I somehow don't think Wayne will give you a Ho Ho Ho!
I get what you are saying but I guess it will stay as a 'Cash Up Front' basis.
When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.
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