greatmarko
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Post by greatmarko on Mar 14, 2019 20:18:39 GMT
Logged in to OC this evening to be greeted with the following pop-up message: ...looks like there's only 7 open loans right now, which is the first time I've seen that in my 18 or so months with OC. Normally there's 30 loans open. Should we be concerned? Any reason why loan origination has suddenly dropped octopusjoe ? ...or perhaps there's been a sudden influx of new lenders & monies onto the platform? |
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pom
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Post by pom on Mar 14, 2019 20:38:30 GMT
18 months? I'd have to check but I suspect that means you managed to join after the last time they had a low level of loans. Given its Mar, it's probably due to last minute ISA investments
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greatmarko
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Post by greatmarko on May 29, 2019 18:39:46 GMT
The queue is becoming all too frequent now! Currently back sat in an investment queue for the past 7 days now and counting...  |
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pom
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Post by pom on May 30, 2019 13:05:43 GMT
I don't mind the queue so much - tho would really prefer they at least prioritise re-investments as per other platforms. But I am now feeling rather irritated that having just withdrawn an amount smaller than my cash currently stuck in the queue, they've taken it from live loans rather than uninvested funds. octopusjoe |
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liso
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Post by liso on May 30, 2019 13:10:07 GMT
I don't mind the queue so much - tho would really prefer they at least prioritise re-investments as per other platforms. But I am now feeling rather irritated that having just withdrawn an amount smaller than my cash currently stuck in the queue, they've taken it from live loans rather than uninvested funds. octopusjoe Same thing happened to me a few months ago. When I queried it with the platform they replied: "The reason your investment was sold down to facilitate your withdrawal rather than take the £250 in cash waiting to be invested, is that when a withdrawal is processed on our system, it will automatically withdraw from your available invested funds, as your pending amount is already in a queue to be invested. We can however upon request cancel any pending investment you have, and this will in turn automatically create a withdrawal of your pending amount in cash. This is great feedback for us, I'll make sure to forward this on to our team as this is not made clear enough on your account - we are also looking to add the possibility of withdrawing funds in cash directly from your account." Seems nothing has changed!
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macq
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Post by macq on May 30, 2019 13:29:14 GMT
Part of the problem i guess is that the flow of mortgage's ebb & flow with market demand and while i also have money not invested the problem is that there are loans in the loan book but it will take me over their limit settings on funds per loan - so i guess its better to wait in the long run
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liso
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Post by liso on May 30, 2019 13:39:35 GMT
Part of the problem i guess is that the flow of mortgage's ebb & flow with market demand and while i also have money not invested the problem is that there are loans in the loan book but it will take me over their limit settings on funds per loan - so i guess its better to wait in the long run I don't necessarily disagree with you, if you want to wait for funds to be invested. The problem is that when a withdrawal is requested for any reason, OC sell down loans to facilitate the withdrawal rather than withdraw from funds sitting idle. It may suit OC's system to do it that way but from an investor's point of view it is ludicrous.
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macq
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Post by macq on May 30, 2019 15:05:28 GMT
Part of the problem i guess is that the flow of mortgage's ebb & flow with market demand and while i also have money not invested the problem is that there are loans in the loan book but it will take me over their limit settings on funds per loan - so i guess its better to wait in the long run I don't necessarily disagree with you, if you want to wait for funds to be invested. The problem is that when a withdrawal is requested for any reason, OC sell down loans to facilitate the withdrawal rather than withdraw from funds sitting idle. It may suit OC's system to do it that way but from an investor's point of view it is ludicrous. Badly worded on my part - would totally agree about the withdrawal of money from loans rather then cash in deposits and am surprised they do it that way (i meant to reference the money being invested or reinvested and waiting for new loans)
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pom
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Post by pom on May 30, 2019 15:35:59 GMT
I don't mind the queue so much - tho would really prefer they at least prioritise re-investments as per other platforms. But I am now feeling rather irritated that having just withdrawn an amount smaller than my cash currently stuck in the queue, they've taken it from live loans rather than uninvested funds. octopusjoe Same thing happened to me a few months ago. When I queried it with the platform they replied: "The reason your investment was sold down to facilitate your withdrawal rather than take the £250 in cash waiting to be invested, is that when a withdrawal is processed on our system, it will automatically withdraw from your available invested funds, as your pending amount is already in a queue to be invested. We can however upon request cancel any pending investment you have, and this will in turn automatically create a withdrawal of your pending amount in cash. This is great feedback for us, I'll make sure to forward this on to our team as this is not made clear enough on your account - we are also looking to add the possibility of withdrawing funds in cash directly from your account." Seems nothing has changed! Indeed - as the email I received was almost identical!
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