blender
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Post by blender on Jul 25, 2018 14:45:50 GMT
That is true. There were long-standing SM bids for the first loan at 1.8% which I mostly resisted. This one is a keeper for me. The bids went when this was announced. £3000 bids will go very quickly if the system works. Like less than 30 mins. But I think that ablrate has made a decision and we shall see.
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hazellend
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Post by hazellend on Jul 25, 2018 14:47:46 GMT
It is difficult to keep everybody happy.
3k seems about right to me
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justsaying
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Post by justsaying on Jul 25, 2018 14:49:22 GMT
Hi ablrate as I have a lot of dead money on the platform at the moment can you please give an idea(ish) of pipeline when and size? Thanks In my experience, initiating a withdrawal will almost certainly be followed by a new loan email! More than once I've withdrawn to only have to deposit before the withdrawal hits my bank account. No complaints just the way it is Yep me too - every single time!!
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blender
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Post by blender on Jul 25, 2018 14:51:44 GMT
Yes spooky, I took out £5k late morning after the post about 'next week' - and then. But I have enough cash resting in the platform.
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Post by Badly Drawn Stickman on Jul 25, 2018 15:05:32 GMT
Could we at least pretend we are going to do some DD?
Nothing fancy, just a bit of moaning about the same lender again, dubious asset, anything really.
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blender
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Post by blender on Jul 25, 2018 15:14:07 GMT
Could we at least pretend we are going to do some DD? Nothing fancy, just a bit of moaning about the same lender again, dubious asset, anything really. Too late. We lost all credibility on 108, and now we must rely only on ablrate's ability to save the lemmings from the cliff edge, with some sort of security barrier better than a cunning plan and a rented caravan. We did our DD recently on this next one, though I expect the security on this £300k to be more imaginative.
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archie
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Post by archie on Jul 25, 2018 15:35:27 GMT
Could we at least pretend we are going to do some DD? Nothing fancy, just a bit of moaning about the same lender again, dubious asset, anything really. I looked at the bid limit, does that count?
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Post by GSV3MIaC on Jul 25, 2018 16:48:40 GMT
I could see as high as £1,000, maybe, but £3k is indeed just taking the proverbial .. 100 happy-(-ish) punters, and all the rest somewhat less than gruntled. ablrate seem either slow to learn, or deficient in the maths department (£300k / number of willing punters = £3k? I don't think so .. maybe a decimal place error??) Hi 79% of lenders in the last loan bid less than £3,000. It is a balance, we would like to let those who want the loan have some, but also those who are trying to deploy larger amounts of capital across our platform the opportunity to do so. We think we are striking a calculated balance... and there is over a million pounds coming in the pipeline shortly.
Or, to put it another way, there were easily 100 who'll take £3k or more, given half a chance? I'm all for folks being able to deploy as much capital as they want to .. just not at the expense of everyone else.
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oldtimer
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Post by oldtimer on Jul 25, 2018 17:40:21 GMT
Hi.. we have about £2 million of loans percolating which will be hitting the platform within the next week, subject to everything being in order. ablrate are these other new loans new borrowers or existing ones?
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toast
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Post by toast on Jul 25, 2018 19:33:22 GMT
Could we at least pretend we are going to do some DD? Could we at least have some time to do DD? Whilst the borrower might already be known, I could do with some time to evaluate the security.
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Post by ablrate on Jul 26, 2018 8:53:05 GMT
Could we at least pretend we are going to do some DD? Could we at least have some time to do DD? Whilst the borrower might already be known, I could do with some time to evaluate the security. You will be able to see the document from 10 am, while bids will not be accepted until 1pm
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nw99
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Post by nw99 on Jul 26, 2018 8:54:54 GMT
Doing a great job Ablrate many thanks
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jontyab
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Post by jontyab on Jul 26, 2018 12:05:29 GMT
95% of 1000109 filled in under 5 minutes, for what it's worth the site has been rock solid whilst filling this far, ablrates efforts on that end have been entirely successful.
The concurrent transaction checks for the last 10% seems to have slowed things down so if you want in you may still have a chance at what remains but it seems we're back to the same struggles.
edit: For these high-interest launches to work long term there needs to be a bottom-up pre-bid mechanism. Whilst a lower bid limit would have helped more people get into this loan I don't see this situation changing without some significant rearchitecturing of how bids are placed (whether visible to lenders or not).
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Post by GSV3MIaC on Jul 26, 2018 12:07:24 GMT
This one is rather different and I suspect will be hoovered up within 30 minutes*, possibly less. (* the first 90% of it, anyway. Who knows how long the system will take to accept bids for the final 10% )
You slipped a decimal place same as ablrate - 3 minutes was closer to the truth!
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Post by GSV3MIaC on Jul 26, 2018 12:08:43 GMT
1000109 is filling fast, 95% filled in under 5 minutes, for what it's worth the site has been rock solid whilst filling this far
I did get a 'transaction system is busy please try again' on my first attempt, but second one worked alright. I generously didn't try to double dip (ISA and non-ISA) .. I still say £3k was TOO HIGH.
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