criston
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Post by criston on Jun 11, 2019 17:00:51 GMT
Greenwood2. Thanks. No wonder I was having difficulty.
Both my loans bought today are interest retained & monthly.
Again though, this information appears to be available only after buying !!
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criston
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Post by criston on Jun 11, 2019 17:45:42 GMT
How about this then.
This afternoon I had a an 'Available' loan showing, for a flat in London (forgot the address), 1st charge,with £5000 available, 55% LTV against 4 properties, 0.8% interest, starting 11/6/19, 12 months duration.
The loan did not appear on my wifes account, even after refreshing & re-logging in.
Neither was/is it in 'Pipeline' or 'SM' or 'live' loans.
I was a bit wary, so did not go for it, but It has disappeared now.
Can anyone solve this mystery. ______________________________________________________________________________
After writing the above I have checked live loans & there it is at the top of the list
So I assume it was a new loan today, but neither of us received emails about a new loan or had it showing as available from the start.
Rather confusing.
Edit. The loan is only showing under 'live' in my account, but not my wifes.
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criston
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Post by criston on Jun 11, 2019 20:02:32 GMT
I take it I have stumbled upon some sort of preference loan here; to a select group ?
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iRobot
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Post by iRobot on Jun 11, 2019 20:21:13 GMT
I take it I have stumbled upon some sort of preference loan here; to a select group ? Have you / your wife both completed the latest 'suitability' questionnaire? (For the platform, I mean, not each other! ) If you have, you might want to try emailing them to check the settings on your account. (There must be some kind of filtering going on, otherwise why have the checks, unless it's all window dressing.)
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criston
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Post by criston on Jun 11, 2019 20:26:02 GMT
Yes we both have done the 'suitability' questionnaire.
Did you see today's new loan ?
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iRobot
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Post by iRobot on Jun 11, 2019 20:40:39 GMT
Based on your description, do you mean this one: www.thebridgecrowd.com/loan-details/1448 ? If so, I think that hit the platform 30/05 - at least, that's when I picked up a part in it. Edit: It sat in the pipeline for a while and I now see I have a 'now live' email for it today.
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criston
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Post by criston on Jun 11, 2019 20:50:20 GMT
Yes that's the one. Showing today's date.
So do I take it someone sold £5k today, but it showed up on 'available' rather than SM.
Still not showing under live on my wifes though.
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iRobot
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Post by iRobot on Jun 11, 2019 21:07:13 GMT
Typically, it's not possible to sell a part until it's been active for 30 days. So maybe this one was an exception (a 'mis-bid', and the lender pleaded to be let off) or an 'auto-bid' that the lender subsequently rejected (but usually only get a day or two to do that).
Only BC will know for sure.
The only thing consistent about BC is their inconsistency. Any other platform and I'd probably get mighty ticked off by it, but I can live with it here.
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criston
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Post by criston on Jun 11, 2019 21:18:23 GMT
iRobot; Thanks for your help. Problem solved.
You mention auto bid. Where do I find the settings for that.
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iRobot
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Post by iRobot on Jun 11, 2019 21:44:30 GMT
I've never used it - and somebody correct me if I'm wrong, please - but I think you need to ask Customer Services to enrol you and I think you need something like £15 or £20k on account.
From that point on they'll allocate a part of every 'auto-bid' eligible loan you have funds to cover. AFAIK, there's no granularity to request 'no 2nd charges, nothing under 9%p.a.', but I could well be wrong.
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Greenwood2
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Post by Greenwood2 on Jun 12, 2019 11:09:14 GMT
I've never used it - and somebody correct me if I'm wrong, please - but I think you need to ask Customer Services to enrol you and I think you need something like £15 or £20k on account. From that point on they'll allocate a part of every 'auto-bid' eligible loan you have funds to cover. AFAIK, there's no granularity to request 'no 2nd charges, nothing under 9%p.a.', but I could well be wrong. I also haven't used it, but pretty sure it was £15k and you have no control of what loans are selected, but you can reject them within 48hrs?
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michaelc
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Post by michaelc on Jun 12, 2019 14:17:24 GMT
15K minimum but presumably those who do it, have much more because 15K would be gone inside a typical week.
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criston
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Post by criston on Jun 12, 2019 16:28:41 GMT
Thanks for all replies, very helpful.
How do you find out when the next loans will be available, or do you have to wait for the next email ?
How frequent do the loans come up ?
How active is the secondary market ?
I note 'pending' shows all that have been already taken.
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Greenwood2
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Post by Greenwood2 on Jun 12, 2019 18:12:20 GMT
Thanks for all replies, very helpful. How do you find out when the next loans will be available, or do you have to wait for the next email ? How frequent do the loans come up ? How active is the secondary market ? I note 'pending' shows all that have been already taken. Most loans are on a Friday most weeks and you should get an email... or watch the site, secondary market seems to be really good if you want to sell, to buy you have to be vigilant and fast usually. Pending shows loans that are full or not, but often they are all full before getting to pending.
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criston
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Post by criston on Jun 13, 2019 8:39:56 GMT
I have so far used funds already in my account.
I have not tried it yet, but I see you can commit, as long as funds arrive within 2 hours.
What happens if you commit & fund, at say 17.00, & funds are not processed until the following day ?
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