|
Post by Ace on Oct 10, 2020 16:58:10 GMT
No, autoinvest will invest in all tranches of a loan if you give it a chance. I said in the Weymouth loan thread that there is a danger of sleepwalking into funding multiple tranches and thus over-exposing oneself. I generally avoid multi-phase development loans, doubly so when you can end up accidentally end up investing. I will pass then, I know it will happily use up odds and ends from auto invest (I am not committed enough to keep it topped up and just add £500 occasionally) so was not surprised at the amount but not using it all seems curious. This doesn't fully explain the situation above, but does say that autoinvest pledges of less than £50 can be generated. It's from CP's FAQs, my bold: WHY IS THE MAXIMUM PLEDGE SIZE 20% OF MY ACCOUNT VALUE? Your maximum pledge size is 20% of your account value, first and foremost, to ensure you have a good extent of diversification. You will, as an absolute minimum, be invested in at least 5 projects. The 20% cap is also to prevent people creating an AutoInvest account for the wrong purposes – to automatically create a large pledge on a one-off occasion to ensure their place on a project. If you intend to create substantial, singular pledges on a selective basis, our manual product will be more suitable for you. The smallest maximum pledge size is £50. This is to ensure your portfolio is fully diversified and invested in a reasonable amount of time. AutoInvest pledges less than £50 may on occasion be created as pledge size is calculated proportionately.
|
|
|
Post by Badly Drawn Stickman on Oct 10, 2020 18:35:15 GMT
I will pass then, I know it will happily use up odds and ends from auto invest (I am not committed enough to keep it topped up and just add £500 occasionally) so was not surprised at the amount but not using it all seems curious. This doesn't fully explain the situation above, but does say that autoinvest pledges of less than £50 can be generated. It's from CP's FAQs, my bold: WHY IS THE MAXIMUM PLEDGE SIZE 20% OF MY ACCOUNT VALUE? Your maximum pledge size is 20% of your account value, first and foremost, to ensure you have a good extent of diversification. You will, as an absolute minimum, be invested in at least 5 projects. The 20% cap is also to prevent people creating an AutoInvest account for the wrong purposes – to automatically create a large pledge on a one-off occasion to ensure their place on a project. If you intend to create substantial, singular pledges on a selective basis, our manual product will be more suitable for you. The smallest maximum pledge size is £50. This is to ensure your portfolio is fully diversified and invested in a reasonable amount of time. AutoInvest pledges less than £50 may on occasion be created as pledge size is calculated proportionately.Out of curiosity I entered the twilight zone that is trying to find something on the platform. I have three sub £50 loans, although its possible one is a result of partial repayment. Looking at my balance would suggest that would increase next week some time. The loans come a bit more frequently than when I first invested, at that time cash drag was a bigger problem, my theory was that over time it would become mostly self refinancing from repayments but loan extensions (understandable and I have no problem with this) seem to have made that less likely. I think I would invest more with them if I could learn to like if not love the platform but just find it a chore to use. More flexibility with adding funds would also help. Whilst it is not that difficult to overcome, the need to add £500 to auto invest is annoying. On a positive note (I always look to end on one), I found out how to log out.
|
|
|
Post by Ace on Oct 10, 2020 21:46:55 GMT
Out of curiosity I entered the twilight zone that is trying to find something on the platform. I have three sub £50 loans, although its possible one is a result of partial repayment. Looking at my balance would suggest that would increase next week some time. They don't usually create pledges from ones AutoInvest account unless there is at least £50 in it. Notwithstanding the above statement that they may occasionally do so. I think I would invest more with them if I could learn to like if not love the platform but just find it a chore to use. More flexibility with adding funds would also help. Whilst it is not that difficult to overcome, the need to add £500 to auto invest is annoying. I agree that the platform UI is difficult to love. I find it unnecessarily complicated. I had presumed that one could add amounts less than £500 to one's AutoInvest wallet once the initial £500 had been deposited. I've never tried it, but I can't find anything in the FAQs to contradict this.
|
|
|
Post by Badly Drawn Stickman on Oct 10, 2020 22:00:54 GMT
Too tricky to unpick the above at this time on a Saturday night, but it seems any deposit needs to make the auto invest up to £500 so if it holds £450 you could just add £50 etc. I tend to deplete so need to add £500. Bizarrely I can then withdraw £499 should the mood be on me.
|
|
|
Post by Ace on Oct 10, 2020 23:17:12 GMT
Too tricky to unpick the above at this time on a Saturday night, but it seems any deposit needs to make the auto invest up to £500 so if it holds £450 you could just add £50 etc. I tend to deplete so need to add £500. Bizarrely I can then withdraw £499 should the mood be on me. You deposit funds by transferring to a given sort-code and account number, so I don't see how they can stop you depositing smaller amounts, other than by rejecting it after the event, which would seem a little churlish. Is it just a difference of interpretation of their statement in red, i.e. I took this to mean that the total in the AutoInvest side of an account was required to be at least £500, regardless of how much in that account was already deployed, but you seem to have interpreted it differently. Perhaps CrowdProperty Representative would care to comment, and also update the red message to make it clearer. Please.
|
|
|
Post by Badly Drawn Stickman on Oct 11, 2020 8:53:38 GMT
Too tricky to unpick the above at this time on a Saturday night, but it seems any deposit needs to make the auto invest up to £500 so if it holds £450 you could just add £50 etc. I tend to deplete so need to add £500. Bizarrely I can then withdraw £499 should the mood be on me. You deposit funds by transferring to a given sort-code and account number, so I don't see how they can stop you depositing smaller amounts, other than by rejecting it after the event, which would seem a little churlish. Is it just a difference of interpretation of their statement in red, i.e. I took this to mean that the total in the AutoInvest side of an account was required to be at least £500, regardless of how much in that account was already deployed, but you seem to have interpreted it differently. Perhaps CrowdProperty Representative would care to comment, and also update the red message to make it clearer. Please. Ok, I have investigated a little more. I transferred a token sum this morning using the reference AUTOINVEST (think was how it was shown, but I have misplaced it again now) having found it during a bit of tunneling and this has gone not surprisingly into auto invest. and presumably will be content to stay there. Previously I have transferred funds using the bank details and my name as the reference, this goes into my wallet. Moving from there to auto invest wants the amount to equate to a £500 holding, but I will double check that is the case later in the day. So fairly plain and simple once the veil is pulled back. Fairly easy positive note to end on, the bank transfer was all but instant, very impressive.
|
|
|
Post by spareapennyor2 on Oct 11, 2020 9:33:00 GMT
have had no problem transferring small top-ups to make £50 minimum for auto invest pledge
into wallet then having to transfer top up auto invest account by settings / or direct to auto-invest only thing i had problems with if loan is already listed i don't get a pledge
had small odd amount pledge to loan tranche I`m all ready in
|
|
puddleduck
Member of DD Central
Posts: 537
Likes: 489
|
Post by puddleduck on Oct 11, 2020 10:37:05 GMT
I usually transfer £100 or £200 max and that works for me.
I only ever transferred £500 on initial account setup.
|
|
|
Post by Badly Drawn Stickman on Oct 11, 2020 14:04:13 GMT
I usually transfer £100 or £200 max and that works for me. I only ever transferred £500 on initial account setup. Well I have tried nearly every combination to get it not to let me (apart from a £0 balance), but it does seem perfectly happy to accept £1 donations in either direct or indirect payment. So clearly I am suffering from false memory syndrome. I have always regarded CP as marginal for me personally so have been a far from regular investor, my experimenting has given me a fresh interest in it.
|
|
markyg61
Member of DD Central
Posts: 340
Likes: 237
|
Post by markyg61 on Oct 12, 2020 6:37:35 GMT
I'm usually in front of a screen at 10:00 so choose to self invest. £500 a time for those I choose to invest in and as yet, I haven't missed out once. That said, you do have to be quick as its usually gone within about 30 seconds.
|
|
ton27
Member of DD Central
Posts: 431
Likes: 267
|
Post by ton27 on Oct 13, 2020 11:52:52 GMT
The latest loan also did not fill up immediately and I got a lot more than usual through "Autoinvest"
|
|
|
Post by overthehill on Oct 13, 2020 12:51:54 GMT
Loans are bound fill slower for the foreseeable while new loans >> (much greater) than loan repayments unless new investors are rising unnaturally fast.
|
|
|
Post by Badly Drawn Stickman on Oct 13, 2020 13:11:59 GMT
The latest loan also did not fill up immediately and I got a lot more than usual through "Autoinvest" I suppose 700K is a good chunk in one bite. Quite impressive that it filled so quickly. I prefer the monthly interest ones, even if it is just my own money being given back to me. It is the first webinar I have watched as well..........baby steps, maybe on the next one I will pay attention as well.
|
|
puddleduck
Member of DD Central
Posts: 537
Likes: 489
|
Post by puddleduck on Oct 13, 2020 16:39:19 GMT
The latest loan also did not fill up immediately and I got a lot more than usual through "Autoinvest" My AutoInvest failed to invest for me today.
|
|
|
Post by Ace on Oct 13, 2020 20:01:55 GMT
The latest loan also did not fill up immediately and I got a lot more than usual through "Autoinvest" I suspect that many may have skipped this one as a cursory glance would reveal that it pays 7.8%, but the next 8 loans all pay 8%, two of which are due this week. However, the fact that this loan pays monthly interest gives an XIRR of slightly over 8%, so slightly higher than the 8% bullet loans. Given that we only got 85.9% of our requested Autoinvest amounts implies that the AutoInvest half was still oversubscribed.
|
|