rocky1
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Post by rocky1 on Dec 12, 2018 13:50:44 GMT
crowdproperty are only going to get bigger and better and will not change theirDD that sees only %10/15 make it the platform.this must be be a good thing after all the problems we are now seeing and feeling with what i call the main three other platforms who it seems have took the rest over the past couple of years and left thousands of lenders very frustrated.i think there are quite a few HNW and BHs now with crowdproperty and this is also a good thing.i wanted to ask if a pre fund option on up coming projects would be a help to keeping more new lenders on board.you would only be able to pledge up to the amount already in your available funds to transfer your pledge to the project straight away.you would just need to make sure your lender wallet was topped up in advance and enough funds to cover your pledge.[not to be confused with the LY model of prefunding].
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 12, 2018 21:53:21 GMT
How about giving some priority to lenders who have transferred in ISA cash waiting to be invested? Unlike others, they have no choice but to see the cash lying idle indefinitely. Could be discriminatory against tax payers with cash waiting to be invested (who if fully invested elsewhere may face similar choice restrictions). Non-tax payers presumably have a choice to switch platforms to avoid having cash lay idle forever. There is always some interest paying account that non-ISA cash could be moved to. ISA cash takes an age to transfer and there are charges to pay. It is in CPs interest to get transfers in invested quickly otherwise people will cotton on and drip feed in their transfers creating huge admin problems for CP. I certainly will from now on.
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mjc
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Post by mjc on Jan 10, 2019 13:10:56 GMT
I think a point has been missed here.
A lender has done their own DD, they have spent time watching the webinar, etc. Then they miss out due to some superior bot. Hard to take I reckon.
I can't see why a ridiculous limit of say 10% i.e. £32,500 for an hour can not help more people get a share. Your harder to fill loans will not be affected.
P.s. Not interest & never will be interest in "AutoInvest".
1/ I still don’t see any strong argument given against a limit for a short period. The borrower & CP wants quick funding of course, but 1 hour or up to 24 hours appears far better than loans filling within seconds, as has happened yet again today. FS do that on bling, but with a stupid limit of just £25, I still think a short £1,000 to £25k max limit would benefit most? 2/ jj Why are you so against Autoinvest? I appreciate your absolute right not to, but I am very happy with the way it works on HNW, and AC, (less so with Proplend as they dump up to 20% in their harder to shift investments). Are there other drawbacks I’ve not experienced? 3/ Absolutely agree with littleoldlady that drag for ISA money is most frustrating when missing out on loans. Either of 1/ or 2/ above would help solve this, as of course CPs opt8mum of more loans. 😋 4/ I’m not yet on CP. Is there a transfer out fee? How long, to sell and what charges if one has to exit early, ie death, divorce settlement etc? Any promotions being considered imminently? Can I invest cash, then transfer to ISA next financial year - I assume that’s impossible without ‘selling’ to get a ‘current’ value?
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jcb208
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Post by jcb208 on Jan 10, 2019 14:25:33 GMT
I put a £500 pledge today as I had a day off otherwise I would not of been successful , except the site was slow.So £400k between 59 investors makes an average of £6779 each,surely this could be equalled out a bit more to give others a chance
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Post by CrowdProperty Representative on Jan 10, 2019 16:56:43 GMT
Hi mjc and jcb208
Many thanks for raising these points, we appreciate your time to feed back. We are still considering all suggestions internally but haven't finalised our view - there is a strong pipeline of projects ahead, with known projects outlined on the website.
Just wanted to also flag the content of another thread I posted this morning (pasted in below for convenience) which hopefully addresses your point, jcb208, about the site speed.
Best regards,
Mike
________
Hi all
Our latest project launch funded in 2 minutes 14 seconds this morning, which we recognise is frustrating for many.
We experienced unprecedented levels of demand on our platform which led to a slowing of our systems due to server load which caused further frustration. We have already instructed a significant increase in server capacity which will be operational before the next project.
Please also rest assured that our property team are working relentlessly on further strengthening our pipeline of quality projects to give you accessible opportunities to pledge. As you can see from our pipeline at the bottom of our home page (www.crowdproperty.com) or project page (www.crowdproperty.com/projects), we will be launching at least 5 more projects before the 5th of February.
Thank you for your patience whilst we deliver more of what you want.
We welcome your feedback and please continue to get in touch.
Kind regards,
Mike Bristow CEO & Co-Founder
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jcb208
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Post by jcb208 on Jan 10, 2019 18:41:08 GMT
Crowd property not a criticism but I know you need to keep the larger investors happy as well , I much prefer to invest £500 in 100 loans then £50k in a few larger loans I just feel safer when well diversified and I think this applies to many smaller investors. Maybe an Auto invest may suit us If you roll this out in the future depending on what rate of return we will achieve
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mjc
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Post by mjc on Jan 11, 2019 11:23:20 GMT
I think a point has been missed here.
A lender has done their own DD, they have spent time watching the webinar, etc. Then they miss out due to some superior bot. Hard to take I reckon.
I can't see why a ridiculous limit of say 10% i.e. £32,500 for an hour can not help more people get a share. Your harder to fill loans will not be affected.
P.s. Not interest & never will be interest in "AutoInvest".
1/ I still don’t see any strong argument given against a limit for a short period. The borrower & CP wants quick funding of course, but 1 hour or up to 24 hours appears far better than loans filling within seconds, as has happened yet again today. FS do that on bling, but with a stupid limit of just £25, I still think a short £1,000 to £25k max limit would benefit most? 2/ jj Why are you so against Autoinvest? I appreciate your absolute right not to, but I am very happy with the way it works on HNW, and AC, (less so with Proplend as they dump up to 20% in their harder to shift investments). Are there other drawbacks I’ve not experienced? 3/ Absolutely agree with littleoldlady that drag for ISA money is most frustrating when missing out on loans. Either of 1/ or 2/ above would help solve this, as of course CPs opt8mum of more loans. 😋 4/ I’m not yet on CP. Is there a transfer out fee? How long, to sell and what charges if one has to exit early, ie death, divorce settlement etc? Any promotions being considered imminently? Can I invest cash, then transfer to ISA next financial year - I assume that’s impossible without ‘selling’ to get a ‘current’ value? Re 4/ above, (not replied to) I note a rather hefty £75 fee, far the highest of any other p2p I’m with. ”10. Transfers out 1. All transfers must be made in cash. 2. If you choose to transfer out funds from your CrowdProperty Innovative Finance ISA to another ISA provider, you will be charged a fee of £75.00.”
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Post by CrowdProperty Representative on Jan 11, 2019 12:12:12 GMT
Hi jj and mjc,
The only fee associated with our ISA is the £75 transfer out fee (please note this only includes transfers out to another ISA provider; it is free to withdraw funds from your ISA and our ISA is also flexible). There are no set-up or transfer in fees, and there is no annual ISA administrative charge; we removed that specific charge following feedback posted on this forum. The ISA transfer out fee is the only fee charged to investors on our platform of any type.
We continually perform extensive research as to what is typical for the sector and feel we are competitive in terms of the ISA product we are offering. However, we are always keen to hear feedback and are as proactive as possible with this feedback.
Many Thanks,
Sarah Lender Relations Manager
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mjc
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Post by mjc on Jan 11, 2019 12:38:24 GMT
Thanks for this clarification Sarah, I have ISA’s with 7 other p2p’s and Nationwide BS, this is 50% higher than the ONLY other one to make a transfer out fee (HNW). So you may wish to consider this going forward.
I would like to start with a modest initial investment for 12m or so, and if as good as it sounds would carry on. But that fee is a bit of a downer, Check out 4th Way for a quick overview of comparison provider’s exit and other fees.
The £50 for valuation for probate seems harsh, but why should I care about that........
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 11, 2019 12:52:05 GMT
Thanks for this clarification Sarah, I have ISA’s with 7 other p2p’s and Nationwide BS, this is 50% higher than the ONLY other one to make a transfer out fee (HNW). So you may wish to consider this going forward. I would like to start with a modest initial investment for 12m or so, and if as good as it sounds would carry on. But that fee is a bit of a downer, Check out 4th Way for a quick overview of comparison provider’s exit and other fees. The £50 for valuation for probate seems harsh, but why should I care about that........ Bloody hell; I wouldn't call £12 mill a "modest" investment
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mjc
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Post by mjc on Jan 11, 2019 13:26:15 GMT
Nah that would upset their stats. 12months, 😜
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huxs
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Post by huxs on Jan 17, 2019 12:55:30 GMT
Same again, this time was even online at 10 but website slowed to a crawl and by the time it started working it had gone. Will not bother looking at any other projects until changes are made its not worth performing DD if you have next to zero chance of investing.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 17, 2019 13:33:41 GMT
I'm speaking from the standpoint of someone who managed to get my £500 on this loan (no secret method, more luck than judgement); however, come on guys if it's gone in two minutes with many of your investors left hanging, having wasted however long in preparation, you've got to do something. Just trotting out the same mantra about increasing deal flow does not cut it, as this just produces more loans that a number of your "investors" can't get on to. Also increasing your IT capacity will just lead to people finding out more quickly that the loan has gone.
Surely you must consider SENSIBLE initial bid limits, otherwise you are going to alienate a lot of people who you won't get back. It works elsewhere, why not here?
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alibaba
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Post by alibaba on Jan 17, 2019 13:49:16 GMT
Loan gone in 2 minutes, it is getting to the point where it is not worth logging on, very frustrating watching the loan fill and not being able to pledge. I don't have a mobile, I have to arrange my day to be at the computer at the time of the loan. Having said that they are obviously very good investments and well done to everyone who managed to invest. My money will have to go elsewhere.
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Post by p2ples on Jan 17, 2019 14:01:58 GMT
Loan gone in 2 minutes, it is getting to the point where it is not worth logging on, very frustrating watching the loan fill and not being able to pledge. I don't have a mobile, I have to arrange my day to be at the computer at the time of the loan. Having said that they are obviously very good investments and well done to everyone who managed to invest. My money will have to go elsewhere. A mobile won’t help .. I couldn’t pledge with a mobile connection to home wifi. I thought new servers were supposed to solve this. On the plus side, instant funding has got to great news for potential borrowers so hopefully the deal flow will see growth.
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