dave4
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Post by dave4 on Apr 30, 2022 11:44:45 GMT
Well that's naughty .. my maximum auto bid was selected to 2k on two accounts and I ended up with 8K total "investment through AutoLend Always On." Obviously, this fault of allowing allocations to exceed a lender's specified AutoLend "Maximum Investment per Loan" hasn't been fixed. The fault was reported by multiple lenders last June with the Birmingham R*** loan which also had a £2k minimum. See p2pindependentforum.com/thread/18653/birmingham-pll0994So what happens if 1k auto is funded with 1k, and no other funds are on platform?? is a slice allocated ? or is auto lend ignored? or .
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eeyore
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Post by eeyore on Apr 30, 2022 13:22:08 GMT
Obviously, this fault of allowing allocations to exceed a lender's specified AutoLend "Maximum Investment per Loan" hasn't been fixed. The fault was reported by multiple lenders last June with the Birmingham R*** loan which also had a £2k minimum. See p2pindependentforum.com/thread/18653/birmingham-pll0994So what happens if 1k auto is funded with 1k, and no other funds are on platform?? is a slice allocated ? or is auto lend ignored? or . If a lender has specified a maximum investment per loan of £1k and there's only £1k in the cash account, then nothing would happen with this loan because the minimum investment is £2k. The issue appears to be: if there's £2k (or more) in the cash account, then an AlwaysOn lender would be allocated a £2k (or more) investment even if the maximum investment per loan has been specified as £1k. In the case of the Birmingham R*** loan, as I understand it, Proplend reversed the £2k allocations at the lenders' request. Still shouldn't be allowed to happen though.
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dave4
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Post by dave4 on Apr 30, 2022 15:06:46 GMT
So what happens if 1k auto is funded with 1k, and no other funds are on platform?? is a slice allocated ? or is auto lend ignored? or . If a lender has specified a maximum investment per loan of £1k and there's only £1k in the cash account, then nothing would happen with this loan because the minimum investment is £2k. The issue appears to be: if there's £2k (or more) in the cash account, then an AlwaysOn lender would be allocated a £2k (or more) investment even if the maximum investment per loan has been specified as £1k. In the case of the Birmingham R*** loan, as I understand it, Proplend reversed the £2k allocations at the lenders' request. Still shouldn't be allowed to happen though. Agreed its not cricket is it. Maybe a barrage of " hi how was your bank holls?...... O and ! you doing with the loan" e mails, from lenders may do some good?
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ton27
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Post by ton27 on May 1, 2022 9:07:39 GMT
I hope the £2k minimum does not become a feature as I am content from a diversification standpoint with £1k per loan. Not sure what I would do if it becomes the norm but probably would reduce my investment.
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IFISAcava
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Post by IFISAcava on May 1, 2022 15:04:50 GMT
Well spotted, just realised that is near enough the difference, not checked it to the penny but grossing up the figure I received by 10% gives me a figure within a couple of quid to the figure on the cert. Was logged on to check what interest I should expect in my bank account in the next few days and saw the 10% fee which is IGNORED (forgotten about) in my figures as obviously I can only transfer the net amount back to my bank account ! Will leave it with them to see what explanation they come back with.PS Apologies eeyore, quoted the wrong message !If you copy-and-paste the text of the post into a new post in your original thread, and then delete this post, you'll keep things nice and tidy! PS: You need to gross-up by 11% or, better still, take 10% off the Certificate total; you should, in theory, get a match within pence. Proplend will respond with something along the lines of: " This is what HMRC demand we do - it's a legal requirement of the way the loan agreement is set-up." I've a vague recollection there was some indication from Proplend a year or two back that they would change the loan agreement so that we wouldn't have to pay tax on interest we don't get - obviously, nothing has come of that. It's a not-inconsequential change, especially for higher/additional rate taxpayers. For example, for a 45% payer, one keeps £45 out of every £100 in interest using current system, whereas if tax was levied after deducting the fee one would keep £49.50 out of every £100.
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Post by uksoul on May 3, 2022 7:35:54 GMT
I hope the £2k minimum does not become a feature as I am content from a diversification standpoint with £1k per loan. Not sure what I would do if it becomes the norm but probably would reduce my investment. On the odd occasion a 2k min limit is set for very large loans. Tranche B already filled and Trance A now being offered at 1k slices.
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sapphire
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Post by sapphire on May 3, 2022 7:44:15 GMT
I hope the £2k minimum does not become a feature as I am content from a diversification standpoint with £1k per loan. Not sure what I would do if it becomes the norm but probably would reduce my investment. On the odd occasion a 2k min limit is set for very large loans. Tranche B already filled and Trance A now being offered at 1k slices. uksoul , Can I ask source of the info "Tranche B already filled and Trance A now being offered at 1k slices"? (Asking as Tranche B is not allocated via Auto lend and Self-select allocation is due to be done on 5th May, so how is it now known that Tranche B is already filled?).
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Post by uksoul on May 3, 2022 7:57:37 GMT
On the odd occasion a 2k min limit is set for very large loans. Tranche B already filled and Trance A now being offered at 1k slices. uksoul , Can I ask source of the info "Tranche B already filled and Trance A now being offered at 1k slices"? (Asking as Tranche B is not allocated via Auto lend and Self-select allocation is due to be done on 5th May, so how is it now known that Tranche B is already filled?). In my account it shows B unavailable and A available at 1k slices
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Post by uksoul on May 3, 2022 8:04:22 GMT
Now showing 8k available in Tranche B at 1k a slice
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sapphire
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Post by sapphire on May 3, 2022 8:09:56 GMT
uksoul , Can I ask source of the info "Tranche B already filled and Trance A now being offered at 1k slices"? (Asking as Tranche B is not allocated via Auto lend and Self-select allocation is due to be done on 5th May, so how is it now known that Tranche B is already filled?). In my account it shows B unavailable and A available at 1k slices Thanks. In my account I am able to bid for B in £1k slices upto £8k! Also A in £1K slices up to £20k. Option to specify £1K slices appears to be an IT lapse/limitation. Don't expect £1K or odd amount bids to be accepted as Friday's email stated the requirement of loans being in £2K multiples.
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Post by uksoul on May 3, 2022 8:22:12 GMT
In my account it shows B unavailable and A available at 1k slices Thanks. In my account I am able to bid for B in £1k slices upto £8k! Also A in £1K slices up to £20k. Option to specify £1K slices appears to be an IT lapse/limitation. Don't expect £1K or odd amount bids to be accepted as Friday's email stated the requirement of loans being in £2K multiples. you are correct the 1k bids wont be accepted must be 2k minimum as just informed by the helpdesk.
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jonno
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nil satis nisi optimum
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Post by jonno on May 3, 2022 8:47:24 GMT
Thanks. In my account I am able to bid for B in £1k slices upto £8k! Also A in £1K slices up to £20k. Option to specify £1K slices appears to be an IT lapse/limitation. Don't expect £1K or odd amount bids to be accepted as Friday's email stated the requirement of loans being in £2K multiples. you are correct the 1k bids wont be accepted must be 2k minimum as just informed by the helpdesk. Am I missing something here? I can't find any of the above. Where is it? I currently have Autolend set at £2k, but nothing appears to have moved yet. Any help would be much appreciated.
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Post by uksoul on May 3, 2022 9:06:30 GMT
you are correct the 1k bids wont be accepted must be 2k minimum as just informed by the helpdesk. Am I missing something here? I can't find any of the above. Where is it? I currently have Autolend set at £2k, but nothing appears to have moved yet. Any help would be much appreciated. This can be only seen by self selectors. The bids have not been finalised yet but going by the remaining small amount your bid will be successful.
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Post by overthehill on May 13, 2022 18:57:01 GMT
I found the planning decision document online, 18 pages. The time, work, hurdles, problems and money before a brick is laid must be onerous. I've never read one of these documents in full, this one might be the one. It can't be in anyone's interest to reject planning in the latter stages, better to find a solution.
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hubert
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Post by hubert on Oct 18, 2022 11:01:13 GMT
Repaid
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