Nomad
Member of DD Central
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Post by Nomad on Jan 27, 2021 10:07:49 GMT
Ulverston this morning. Based on the past few loans, but ignoring yesterday's, we should get an allocation of 8% of the Maximum Pledge Ceiling. HOWEVER.... This loan is at 7.6% interest rate which might reduce the number of keen investors. I particularly would like comments from people as to whether the Site feels unresponsive today. It certainly was for me yesterday, for both loans, compared to my past experience. Yes, very sluggish at present.
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Post by multiaccountmanager on Jan 27, 2021 10:19:22 GMT
Ulverston this morning. Based on the past few loans, but ignoring yesterday's, we should get an allocation of 8% of the Maximum Pledge Ceiling. HOWEVER.... This loan is at 7.6% interest rate which might reduce the number of keen investors. I particularly would like comments from people as to whether the Site feels unresponsive today. It certainly was for me yesterday, for both loans, compared to my past experience. I received 15%. The "Pledge Now" button appeared promptly. Once I had pledged though, the site became very sticky. AutoInvest for me was at 15.05%. Whether that is a result of the 7.6% interest rate offered remains to be seen. Glamorgan was also 7.6% and the allocation % appeared unaffected. STOP PRESS AutoInvest now reduced to 12.36%
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 742
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Post by p2pfan on Jan 27, 2021 23:53:02 GMT
Regarding Ulverston, I didn't invest because of the 7.6% rate.
However, bizarrely enough, it had many more lenders than the previous few loans. Ulverston had 1237, whereas the previous ones had 1078, 1023, 1054 and 1074.
Maybe the fact that it is a roll-over loan with 'old' lenders boosted the numbers but I'm wondering why 200 more people invested in a loan paying 7.6% compared to the previous 8% ones?
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Post by Ace on Jan 28, 2021 0:24:47 GMT
Regarding Ulverston, I didn't invest because of the 7.6% rate. However, bizarrely enough, it had many more lenders than the previous few loans. Ulverston had 1237, whereas the previous ones had 1078, 1023, 1054 and 1074. Maybe the fact that it is a roll-over loan with 'old' lenders boosted the numbers but I'm wondering why 200 more people invested in a loan paying 7.6% compared to the previous 8% ones? Like you, I skipped this one. There are so many variables at play that it's difficult to be sure of the main reason that it had more investors than the others, but one reason might be that this one was larger than the other 3 (£475k verses £300k, £270k and £130k). Another reason might be that there was a loan repayment just before this one went live, so many might not have realised that they were no longer fully invested. There could be many other reasons, I haven't looked too closely.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 28, 2021 10:50:02 GMT
Regarding Ulverston, I didn't invest because of the 7.6% rate. However, bizarrely enough, it had many more lenders than the previous few loans. Ulverston had 1237, whereas the previous ones had 1078, 1023, 1054 and 1074. Maybe the fact that it is a roll-over loan with 'old' lenders boosted the numbers but I'm wondering why 200 more people invested in a loan paying 7.6% compared to the previous 8% ones? i think 200 are not sure what have invested in.
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firedog
Member of DD Central
Posts: 309
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Post by firedog on Jan 28, 2021 10:52:07 GMT
What's caused the issue with receiving a very small ratio of autopledge maximum amount is the sudden spike in the number of investors. Until the "BUILDING PLOT, S**** LITTLETON, EVESHAM, WR11 *** - PHASE 3" launch there were a fairly stable number of 500 - 700 investors per launch. Then, from the "13**-13** STRATF*RD ROAD, SHIRLEY, SOLIHULL, B90 *** - PHASE 1" launch onwards, the number shot up to 1201 for that launch and has stayed above 1000 for all launches. Does anyone have an idea what could have caused the sudden spike? I asked this question a while back, and I'm not sure I agree with the answer I got – that it's a flood of new investors. That doesn't sit right with me. But one possibility struck me this morning: a glitch in the autoinvest system. It may be a co-incidence but since the time of the surge in investors, CP has been occasionally auto re-invested TINY amounts from my AutoInvest wallet. I usually keep these empty, but where there's been a fiver in there from an interest repayment, it's often – not always – been invested in a loan. Even more bizarre, I have auto-reinvest turned off, and for such small amounts it shouldn't be triggering, but perhaps this is happening to quite a few people?
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Post by Badly Drawn Stickman on Jan 28, 2021 11:18:54 GMT
What's caused the issue with receiving a very small ratio of autopledge maximum amount is the sudden spike in the number of investors. Until the "BUILDING PLOT, S**** LITTLETON, EVESHAM, WR11 *** - PHASE 3" launch there were a fairly stable number of 500 - 700 investors per launch. Then, from the "13**-13** STRATF*RD ROAD, SHIRLEY, SOLIHULL, B90 *** - PHASE 1" launch onwards, the number shot up to 1201 for that launch and has stayed above 1000 for all launches. Does anyone have an idea what could have caused the sudden spike? I asked this question a while back, and I'm not sure I agree with the answer I got – that it's a flood of new investors. That doesn't sit right with me. But one possibility struck me this morning: a glitch in the autoinvest system. It may be a co-incidence but since the time of the surge in investors, CP has been occasionally auto re-invested TINY amounts from my AutoInvest wallet. I usually keep these empty, but where there's been a fiver in there from an interest repayment, it's often – not always – been invested in a loan. Even more bizarre, I have auto-reinvest turned off, and for such small amounts it shouldn't be triggering, but perhaps this is happening to quite a few people? There are an awful lot of people who read this forum (the vast majority who do not wish/bother/feel confident enough to post) and CP has been praised fairly widely, no real surprise a lot of people would investigate and start investing especially at this time when 'good homes' are scarce. There is a moral there somewhere.
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Post by multiaccountmanager on Jan 28, 2021 12:11:29 GMT
On 3rd Feb there is Sherborne at only 7.2% interest
Unless the particulars show this is a very low risk I am not investing in that one. It is for £380K so not small - interesting to see what happens in terms of % allocated and number of investors.
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Post by Ace on Jan 28, 2021 12:24:52 GMT
On 3rd Feb there is Sherborne at only 7.2% interest Unless the particulars show this is a very low risk I am not investing in that one. It is for £380K so not small - interesting to see what happens in terms of % allocated and number of investors. I'll be skipping this one too. They've successfully funded 5 previous loans at 7.25%. 3 of these were between £300k and £350k. Demand seems to be at an all time high now, so I don't see them struggling to fund this one.
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firedog
Member of DD Central
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Post by firedog on Jan 28, 2021 12:29:13 GMT
There are an awful lot of people who read this forum (the vast majority who do not wish/bother/feel confident enough to post) and CP has been praised fairly widely, no real surprise a lot of people would investigate and start investing especially at this time when 'good homes' are scarce .That would account for a consistent increase in investors over a period – see Loanpad – but surely not a near-doubling between loans? CP was being praised back in April, so I don't know why there appeared to be a rush of new investors in December. In fact, just before this period it was taking considerably longer to fill pledges. So I don't see it as purely demand-led. I think it's something at their end. Anyway, CP have got back to me about the glitch. Apparently it was consolidating autoinvest wallets when preparing automatic pledges, so if you had, say £100+ in your General one and £10 in your IFISA it would auto-invest for both, even though one was below the threshold. Was that the cause of the increase in investor numbers? We'll see as I'm promised it will be fixed this week!
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Post by p2pgirl on Jan 28, 2021 13:42:27 GMT
There are an awful lot of people who read this forum (the vast majority who do not wish/bother/feel confident enough to post) and CP has been praised fairly widely, no real surprise a lot of people would investigate and start investing especially at this time when 'good homes' are scarce. There is a moral there somewhere. I started investing in CP in December after becoming aware of them through this forum and Financial Thing. I monitored sentiment for about 6 months then moved my funds from RS when my RYI completed in December. I suspect I'm not alone with CP being the home for my RS funds.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,008
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Post by dave4 on Jan 28, 2021 14:41:48 GMT
Welcome p2pgirl, there is a wealth or info /experiences on this forum, look around you may find a second or 3rd home for funds that take your fancy.P2p landscape is changing a lot lately.
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Post by Ace on Jan 28, 2021 16:17:14 GMT
A £1.7m loan has just appeared in the schedule at 8% for 23rd Feb. If that one goes through it should help to satisfy demand. I think I recall that it was in the schedule earlier, but disappeared.
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Post by multiaccountmanager on Jan 28, 2021 18:16:31 GMT
A £1.7m loan has just appeared in the schedule at 8% for 23rd Feb. If that one goes through it should help to satisfy demand. I think I recall that it was in the schedule earlier, but disappeared. Yes it was there before but was delayed. I suspect we will get close to 100% Autoinvest ceiling and it will not be funded in one day. Unless there are some special underwriting arrangements.
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Post by Ace on Jan 28, 2021 18:37:55 GMT
A £1.7m loan has just appeared in the schedule at 8% for 23rd Feb. If that one goes through it should help to satisfy demand. I think I recall that it was in the schedule earlier, but disappeared. Yes it was there before but was delayed. I suspect we will get close to 100% Autoinvest ceiling and it will not be funded in one day. Unless there are some special underwriting arrangements. The last autoinvest percentage reported on here was 12.36% for a £475k loan, I.e. 8 times over subscribed. It seems unlikely that a loan only 3.5 times that size would allow a full autoinvest allocation. Depends on how keen CP are on satisfying autoinvestors compared to self selectors.
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