eeyore
Member of DD Central
Posts: 747
Likes: 738
|
Post by eeyore on Sept 24, 2022 16:20:41 GMT
Does it state they have precedence? i took it they now have the option to invest in it.. Why would they have precedence? I haven't seen it stated anywhere, so I could be wrong, but I assumed they would have precedence since they currently do on tranche A allocations. I.e. up until now always-on allocations have taken place days before self-select allocations run. First, you're right that there doesn't appear to be any formal publication from Proplend on allocation of lenders' funds to TrancheA loans on the priority of AlwaysOn lenders over SelfSelect. Yes, you'd think there would be a policy of AlwaysOn lenders getting priority (because AlwaysOn lenders have to maintain funds in their cash account and they have no choice over which loans to invest in), but, in practice, it's not necessarily adopted by Proplend. There was a case in April last year, where Proplend did NOT allocate a slice of a TrancheA loan to some AlwaysOn lenders, reserving some for SelfSelect lenders " in the interests of fairness". The details of the event are documented in my post in DD Central at p2pindependentforum.com/thread/18551/proplend-auto-priorities-alwayson-selectThe VAT loans may be treated differently - we'll have to wait and see. What the allocation policies are and how they are implemented remain confidential to Proplend - it's their system and they make the rules. If we don't like it, then the lenders can vote with their feet - I did!
|
|
mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
Likes: 62
|
Post by mcfc on Sept 26, 2022 18:06:58 GMT
The forthcoming VAT loan appears to have disappeared from the list of “pending”loans…..
|
|
|
Post by overthehill on Sept 26, 2022 20:30:08 GMT
The forthcoming VAT loan appears to have disappeared from the list of “pending”loans…..
The loan has probably been temporarily pulled due to valuation jitters.
Just had an update on a crowdproperty bridging loan (already 3 months late but beside the point) stating the new valuation is less than the original valuation blaming external factors like build costs, interest rates and the valuer's sentiment !
If this is the start of interest rate and inflation effects, the lending company will request a re-valuation or use a discounted valuation/LTV or have to change the interest rate. It's going to cause more delays.
|
|
|
Post by uksoul on Sept 27, 2022 13:53:56 GMT
The loan now back in pending
|
|
eeyore
Member of DD Central
Posts: 747
Likes: 738
|
Post by eeyore on Sept 27, 2022 17:12:04 GMT
The loan now back in pending The West N*** VAT loan is now available - AlwaysOn lenders have had their share allocated and Self-Select lenders can get a slice if funds are deposited by 17:30 on Wed 28th Sept. There's no indication so far of how much of the £1.18million loan is still available for Self-Select.
|
|
|
Post by Ace on Sept 27, 2022 17:29:28 GMT
The loan now back in pending The West N*** VAT loan is now available - AlwaysOn lenders have had their share allocated and Self-Select lenders can get a slice if funds are deposited by 17:30 on Wed 28th Sept. There's no indication so far of how much of the £1.18million loan is still available for Self-Select. The £10k limit for Self-Select lenders suggests that there's a fair chunk still available.
|
|
|
Post by uksoul on Sept 27, 2022 22:00:32 GMT
The loan now back in pending The West N*** VAT loan is now available - AlwaysOn lenders have had their share allocated and Self-Select lenders can get a slice if funds are deposited by 17:30 on Wed 28th Sept. There's no indication so far of how much of the £1.18million loan is still available for Self-Select. So always on lenders did get priority...
|
|
eeyore
Member of DD Central
Posts: 747
Likes: 738
|
Post by eeyore on Oct 18, 2022 11:50:40 GMT
Ebbw V*** VAT loan now available for Self-Select lenders.
|
|
morris
Member of DD Central
Posts: 261
Likes: 149
|
Post by morris on Oct 18, 2022 12:18:33 GMT
Maximum investment £1,000
|
|
bababill
Member of DD Central
Posts: 526
Likes: 245
|
Post by bababill on Oct 21, 2022 1:57:13 GMT
Zero allocation for me.
|
|
|
Post by uksoul on Oct 21, 2022 9:01:27 GMT
The auto lenders get first dibs now so less for the self selectors. I was lucky to get a slice. Several loans are being released over the next couple of weeks, one just released but Tranche A already filled.
|
|
liso
Member of DD Central
Posts: 390
Likes: 394
|
Post by liso on Dec 22, 2022 16:25:32 GMT
Norwood VAT loan repaid
|
|
eeyore
Member of DD Central
Posts: 747
Likes: 738
|
Post by eeyore on Feb 7, 2023 11:03:00 GMT
Bradford O*** VAT loan is now "Waiting to close".
|
|
sapphire
Member of DD Central
Posts: 485
Likes: 406
|
Post by sapphire on Feb 7, 2023 15:40:34 GMT
E*** V*** Light Industrial VAT loan has repaid today.
|
|
liso
Member of DD Central
Posts: 390
Likes: 394
|
Post by liso on Mar 3, 2023 17:39:52 GMT
|
|