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Post by multiaccountmanager on Jun 16, 2019 11:40:34 GMT
It seems to me that loans are taking longer to fill. Also the secondary market is much slower moving. Currently some loans seem to have been there for a week or more.
Also Crowd Property has a loan that instead of filling in minutes still has a little availability from Thursday's launch.
Are these reactions to the FCA publicity on Lendy and new regulations?
Is this a sign rates may improve?
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SteveT
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Slow down
Jun 16, 2019 15:09:18 GMT
via mobile
Post by SteveT on Jun 16, 2019 15:09:18 GMT
Small loans fill quickly, especially when they’re few and far between.
Large loans take longer to fill, especially when several are launched within days if each other.
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iRobot
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Post by iRobot on Jun 16, 2019 16:02:50 GMT
Regrettably, I've not tracked the history but it seems to me more BC loans are launching as 'pipeline' and hanging around longer even when filled. (I recall a time when there was rarely a pipeline loan and, rightly or wrongly, put it down to BC funding the loans themselves - along perhaps with monies from auto-investors - and then going to the PM to effectively back-fill the amount they had covered, or most of it at least.) So a large pipeline loan that may hang around for a while before earning the lenders any interest, isn't going to fill instantly, IMO. Also, I know Bondmason used to take a chunk out of most if not every loan, but I guess they are no longer participating in the fill.
As for the SM, plenty of new origination of longer dated loans is likely to quell demand for shorter dated SM offerings although, unless I've imagined it, there's a trend for SM loans to have longer and longer terms remaining. (And I don't recall seeing any offerings with a discount, which may say something about a lack of 'panic' selling, so I'm not convinced there's a contagion effect from Lendy.)
Can't see rates increasing any time soon. Too much competition from other P2P platforms as well as Institutional players in this space. Generally, a lack of investment money isn't an issue, IMO.
A lack of people willing and able to invest £5k or more may become an issue for BC, but they have an easy solution available to them to resolve that.
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michaelc
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Post by michaelc on Jun 16, 2019 18:29:06 GMT
Rates are lower than say a year or two ago. BC do seem to be fairly price sensitive so hopefully that means some increases soon......
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Greenwood2
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Post by Greenwood2 on Jun 16, 2019 19:38:36 GMT
It seems to me that loans are taking longer to fill. Also the secondary market is much slower moving. Currently some loans seem to have been there for a week or more. Also Crowd Property has a loan that instead of filling in minutes still has a little availability from Thursday's launch. Are these reactions to the FCA publicity on Lendy and new regulations? Is this a sign rates may improve? i'm not sure there is really much left, ability to bid and pay later makes it look that loans fill slower and do bids complete over weekends? I tried to bid on a loan last week that seemed to have quite a few thousand left, but got a 'not funded', although there still seemed to be quite a few thousand left the next day!
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michaelc
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Post by michaelc on Jun 16, 2019 23:19:14 GMT
It seems to me that loans are taking longer to fill. Also the secondary market is much slower moving. Currently some loans seem to have been there for a week or more. Also Crowd Property has a loan that instead of filling in minutes still has a little availability from Thursday's launch. Are these reactions to the FCA publicity on Lendy and new regulations? Is this a sign rates may improve? i'm not sure there is really much left, ability to bid and pay later makes it look that loans fill slower and do bids complete over weekends? I tried to bid on a loan last week that seemed to have quite a few thousand left, but got a 'not funded', although there still seemed to be quite a few thousand left the next day! Out of interest have you ever successfully bid on a loan when you didn't have the funds in the account? I've only tried it once and also got "not funded" (or similar from memory) but then when I transferred the cash in which thankfully arrived within a few hours, I was then able to get a slice. Maybe cash in the account takes precedence over any cashless bid ? That would make sense and explain the behavior I've seen. Maybe cancelling any cashless bids that remain unfunded after 2 hours might help too?
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Greenwood2
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Post by Greenwood2 on Jun 17, 2019 6:11:13 GMT
i'm not sure there is really much left, ability to bid and pay later makes it look that loans fill slower and do bids complete over weekends? I tried to bid on a loan last week that seemed to have quite a few thousand left, but got a 'not funded', although there still seemed to be quite a few thousand left the next day! Out of interest have you ever successfully bid on a loan when you didn't have the funds in the account? I've only tried it once and also got "not funded" (or similar from memory) but then when I transferred the cash in which thankfully arrived within a few hours, I was then able to get a slice. Maybe cash in the account takes precedence over any cashless bid ? That would make sense and explain the behavior I've seen. Maybe cancelling any cashless bids that remain unfunded after 2 hours might help too? I thought it might have been the other way around. I had cash in my account (recent repayment) when I bid, I assumed money bid and waiting to be deposited beat my cash bid (I don't know when a cashless bid reduces the apparent total available). Maybe I should have tried again a few hours later when perhaps some funds bid had not arrived?
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tomp
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Post by tomp on Jun 17, 2019 7:27:25 GMT
i'm not sure there is really much left, ability to bid and pay later makes it look that loans fill slower and do bids complete over weekends? I tried to bid on a loan last week that seemed to have quite a few thousand left, but got a 'not funded', although there still seemed to be quite a few thousand left the next day! Out of interest have you ever successfully bid on a loan when you didn't have the funds in the account? I've only tried it once and also got "not funded" (or similar from memory) but then when I transferred the cash in which thankfully arrived within a few hours, I was then able to get a slice. Maybe cash in the account takes precedence over any cashless bid ? That would make sense and explain the behavior I've seen. Maybe cancelling any cashless bids that remain unfunded after 2 hours might help too? I have only tried it 2 times. Once during working hours (took few minutes) and once on the Thursday evening (had to wait till Friday morning for request to be processed). Both resulted in allocation but maybe it was just a luck
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Post by multiaccountmanager on Jun 17, 2019 8:54:02 GMT
i'm not sure there is really much left, ability to bid and pay later makes it look that loans fill slower and do bids complete over weekends? I tried to bid on a loan last week that seemed to have quite a few thousand left, but got a 'not funded', although there still seemed to be quite a few thousand left the next day! Out of interest have you ever successfully bid on a loan when you didn't have the funds in the account? I've only tried it once and also got "not funded" (or similar from memory) but then when I transferred the cash in which thankfully arrived within a few hours, I was then able to get a slice. Maybe cash in the account takes precedence over any cashless bid ? That would make sense and explain the behavior I've seen. Maybe cancelling any cashless bids that remain unfunded after 2 hours might help too? Yes I have bid many times with a view to sending the money afterwards. My experience is that a cash bid appears to take precedence even if it arrives later than a promise to pay. The system sends a message that the investment is pending. So I now maintain funds in BC on Friday if I want to invest. And do not wait for the new investment email, but instead check the site regularly during Friday.
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Greenwood2
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Post by Greenwood2 on Jun 21, 2019 20:04:40 GMT
Quite a bit still available tonight on the PM and the SM.
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madpierre
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Post by madpierre on Jul 12, 2019 7:17:44 GMT
I have attempted several times to bid on a loan without funds in my account and never been successful. I did this a couple of days ago and yesterday received the "bid unsuccessful" email. So as an experiment I funded my account then bid on the very same loan. I was successful. Curious.
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Greenwood2
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Post by Greenwood2 on Jul 15, 2019 6:48:41 GMT
I have attempted several times to bid on a loan without funds in my account and never been successful. I did this a couple of days ago and yesterday received the "bid unsuccessful" email. So as an experiment I funded my account then bid on the very same loan. I was successful. Curious. I guess it would be people bidding and then not sending funds within the two hour limit, so some of the loan becomes re-available.
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