ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 21, 2014 13:38:28 GMT
Max bid £25 - not currently going particularly fast, so time to get in for those who want to.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 21, 2014 14:27:49 GMT
I was a lender in the original loan on this item. I've had no messages from FS regarding his loan other than it had been repaid. No mention of a renewal.
Have FS stopped allowing lenders to roll over their investment when a loan is renewed?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jul 21, 2014 14:32:16 GMT
I was a lender in the original loan on this item. I've had no messages from FS regarding his loan other than it had been repaid. No mention of a renewal. Have FS stopped allowing lenders to roll over their investment when a loan is renewed? I got an email about it some time before it went live (timestamped 14:13). They stated that on this occasion they were opening it up because there are a number of new lenders and there haven't been any new loans for a while. Edit: no doubt you're happy about the £25 limit, Mike, but having got £60 returned from it shortly beforehand it was frustrating for me 
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mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
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Post by mikes1531 on Jul 21, 2014 15:31:43 GMT
I was a lender in the original loan on this item. I've had no messages from FS regarding his loan other than it had been repaid. No mention of a renewal. Have FS stopped allowing lenders to roll over their investment when a loan is renewed? I got an email about it some time before it went live (timestamped 14:13). They stated that on this occasion they were opening it up because there are a number of new lenders and there haven't been any new loans for a while. Edit: no doubt you're happy about the £25 limit, Mike, but having got £60 returned from it shortly beforehand it was frustrating for me I haven't received that email. But I've just realised that none of the 18 emails I have received today are timed after 1326, so I suspect my email provider is having a problem. No, I'm not particularly happy about receiving £63.82 back from the first term of this loan and not being able to reinvest it -- in the rollover or anywhere else within FS. But having heard from you -- thanks! -- about FS's logic in not allowing rollovers for this loan, it's probably a reasonable position to take in order to allow new investors to see how the system works. But it can't become a regular occurrence without FS suffering the consequences FS have built up a good investor base, and have proved they can fund some large loans. The key to their future success is more lending opportunities, and I'm sure they're doing their best to organise that. I wish them success. But they need some results soon-ish, as lenders who can't re-lend their proceeds as previous loans mature will become unhappy investors and start looking for investment opportunities elsewhere.
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