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Post by df on Nov 19, 2017 19:59:58 GMT
All it needs is for the loan documents to be available to view the day before a loan launch. Those working will have time to do research after work. That way it'll only require a couple of minutes to login and place a bid at whatever time the loan goes live. I hope David will read this and feedback whether it is feasible to implement this or not. I think it was a good move with #86/#88 to give 6 hours for investors to read documents and make their decisions. It would be better if the time frame was quadrupled or at least tripled and was applied to every new loan.
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shimself
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Post by shimself on Nov 19, 2017 20:19:05 GMT
All it needs is for the loan documents to be available to view the day before a loan launch. Those working will have time to do research after work. That way it'll only require a couple of minutes to login and place a bid at whatever time the loan goes live. I hope David will read this and feedback whether it is feasible to implement this or not. I think it was a good move with #86/#88 to give 6 hours for investors to read documents and make their decisions. It would be better if the time frame was quadrupled or at least tripled and was applied to every new loan. And seeing as they escaped from the fishy loan as a result of lenders DD it seems perverse not to facilitate it. I find it hard to understand why they think that delaying bidding by most of a day does anyone a disservice
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shimself
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Post by shimself on Nov 19, 2017 20:22:10 GMT
Rather than 24 hours I'd like to plug for 48 or 72. Lets say loan posted at midday, you do DD overnight, you advise Ablrate of your concerns, they get to look at them at 9am with all the other start of the day stuff going on and yet they need to respond before midday. It's too rushed.
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Post by GSV3MIaC on Nov 19, 2017 21:01:47 GMT
One suspects (as SteveT guessed, I believe) that this is just a 'cookie cutter' job on the existing £500k car loans, in which case DD is simply to go and read one of those and decide if you want some more (with a slightly different set of cars as the security .. at least one hopes they are a different set, and not double counted here, or with MT, or FS, or whatever). Notwithstanding that though, I agree that 24 hours (or more) for perusal of the loan documents should be the norm. Whether it was our perusal which sank the pub, or something else, we may never know, but extra eyeballs can't do any harm. If it is more cars, then bid limits is likely not required, there are £m+ of cars floating around already .. a lot of people may be saturated (unless some BH has a huge chunk from elsewhere which is burning a hole in their pocket? Even so, finding half a dozen £100k+ bidders is a bit unlikely IMO .. and in Ablrate's as well, apparently).
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blender
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Post by blender on Nov 19, 2017 22:29:51 GMT
Or to put it another way, perhaps I should think that the loans which are given the DD delay are the ones which Ablrate considers will be, or should be, the most attractive for lenders?
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Post by ablrate on Nov 20, 2017 10:58:22 GMT
We will put a delay on those loans which we feel will go very quickly. That would typically be smaller loans, those with a higher yield etc. This loan is an existing customer.. another tranche of cars... There is plenty of information on the company. The error was not naming the borrower in the email, which will be in cases like this from now on.
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Post by elephantrosie on Nov 20, 2017 11:16:27 GMT
what time is the loan out today?
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jonno
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nil satis nisi optimum
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Post by jonno on Nov 20, 2017 11:26:05 GMT
what time is the loan out today? 2 pm
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shimself
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Post by shimself on Nov 20, 2017 11:44:02 GMT
We will put a delay on those loans which we feel will go very quickly. That would typically be smaller loans, those with a higher yield etc. This loan is an existing customer.. another tranche of cars... There is plenty of information on the company. The error was not naming the borrower in the email, which will be in cases like this from now on. OK but still I don't understand why not do it systematically?
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Post by elephantrosie on Nov 20, 2017 13:24:40 GMT
is this an amortising loan?
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jonno
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nil satis nisi optimum
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Post by jonno on Nov 20, 2017 13:31:59 GMT
is this an amortising loan? 12% interest only. 36 months with a minimum of 6 months.
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Post by elephantrosie on Nov 20, 2017 14:05:13 GMT
i still cannot see the loan up on its website?
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Post by GSV3MIaC on Nov 20, 2017 14:06:23 GMT
what time is the loan out today? 2 pm Except it isn't .. now 14:05 and no sign of it, which may be an issue for people taking a toilet-break at work specially in order to bid (although I suspect this one will still be plenty there by going home time). Ah: 14:06 and now it is there .. filling at a reasonable rate (£66k so far)
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nw99
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Post by nw99 on Nov 20, 2017 14:19:41 GMT
17% after 17 minutes looks good
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r1200gs
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Post by r1200gs on Nov 20, 2017 14:27:07 GMT
I can't say that it's exactly filling me with enthusiasm, but I've had a nibble anyway.
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