SteveT
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Post by SteveT on Oct 26, 2015 9:56:13 GMT
Just £3k of Cardiff still available...
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Post by MoneyThing on Oct 26, 2015 10:38:06 GMT
Morning,
Cardiff loan now filled.
Thank you to everyone who participated. With MT's (MoneyThing's) largest loan to date I am overwhelmed that it has all been taken up and so quickly so thank you again.
On a separate note, now that the loan flow is increasing would investors like us to vary the 'Live' times perhaps alternating between 10am & 4pm or do investors prefer that they consistently go out at the same time of the day?
We will always give at least 4 hours notice (but often much longer for larger loans). Also, many of the loans that will be coming through now will be greater than £100,000 and therefore should last 24hrs with bid restrictions.
Happy to review it as we go along and admittedly we had 26 new registrations over the last 5 days so may need to revise the 1% bid limit at some point.
Would welcome your thoughts.
Kind regards,
Ed
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arbster
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Post by arbster on Oct 26, 2015 10:45:20 GMT
Varying 10am and 4pm would suit me, as 10am is prime meeting time, so will typically only manage the 4pm slots, which I know may be less convenient for others.
Also, can you confirm that you will always reconcile any fund transfers before a loan goes live, please? Typically, I prefer to make my deposits on the day the loan goes live, but don't want to cut it fine for a 10am loan.
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ablender
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Post by ablender on Oct 26, 2015 10:52:10 GMT
Perhaps you might want to consider a pipeline pre-investment like SS.
This means that: 1. people who work will be guaranteed some amount of investment, 2. it gives you an idea of how much money people are ready to pre-invest 3. does not exclude those who would like to invest when the loan goes live.
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parisingoc
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Post by parisingoc on Oct 26, 2015 10:53:01 GMT
Whilst maybe not in the last 26 to register, I am most likely in the last 50, and one of the reasons for signing up is the predictability.
As long as your service can cope with the capacity demands (can you guess I am an ex-IT person?), then things are fine as they are.
Whilst just about everything can be improved (that does not include my wife), don't let the search for perfection become the enemy of the good.
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rogerbu
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Post by rogerbu on Oct 26, 2015 11:04:42 GMT
Timing
I am happy with the 10:00/16:00 pattern.
Just a thought - 10:00 doesn't give MT long to confirm transfers made that morning. Would 11:00/16:00 pattern be better?
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Post by MoneyThing on Oct 26, 2015 11:10:28 GMT
Varying 10am and 4pm would suit me, as 10am is prime meeting time, so will typically only manage the 4pm slots, which I know may be less convenient for others. Also, can you confirm that you will always reconcile any fund transfers before a loan goes live, please? Typically, I prefer to make my deposits on the day the loan goes live, but don't want to cut it fine for a 10am loan. Thanks. I can confirm that we will be busy reconciling all deposits right up to the point it goes live (and after). We will always make sure that resource is available during this time for each loan so that reconciliation process is always responsive. Kind regards, Ed
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Post by MoneyThing on Oct 26, 2015 11:12:09 GMT
Timing I am happy with the 10:00/16:00 pattern. Just a thought - 10:00 doesn't give MT long to confirm transfers made that morning. Would 11:00/16:00 pattern be better? Morning, Thanks, 10am is sufficient time for us to confirm all the transfers. Kind regards, Ed
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jonno
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Post by jonno on Oct 26, 2015 11:17:42 GMT
Morning Ed; congratulations on getting the Cardiff loan away so quickly; it demonstrates the confidence that investors have in yourself and the platform.
I'd support varying the launch times as long as the points re deposits were achievable.
One other point; whilst I fully support limiting the amount of loan available to each investor on launch, is it still limited to one bid? If so, is this really required, especially on larger loans?
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Post by MoneyThing on Oct 26, 2015 11:21:29 GMT
Whilst maybe not in the last 26 to register, I am most likely in the last 50, and one of the reasons for signing up is the predictability. As long as your service can cope with the capacity demands (can you guess I am an ex-IT person?), then things are fine as they are. Whilst just about everything can be improved (that does not include my wife), don't let the search for perfection become the enemy of the good. Morning parisingoc, Thank you for your note (& for signing up). Systems wise we are quite happy the platform has sufficient capacity to cater for any peak of transaction flow at the moment (with a healthy margin). Kind regards, Ed
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Post by MoneyThing on Oct 26, 2015 11:27:31 GMT
Perhaps you might want to consider a pipeline pre-investment like SS. This means that: 1. people who work will be guaranteed some amount of investment, 2. it gives you an idea of how much money people are ready to pre-invest 3. does not exclude those who would like to invest when the loan goes live. Morning ablender, I have been thinking about a pre-investment/autolend feature for a few weeks now. I have to admit that am a little reticent only from the perspective that I wish to ensure that investors have plenty of time to look at the details of the loan and make an informed decision rather than investing blindly. I think if we did build this feature, we would only have the option available to investors once the loan is uploaded to 'Pending'. Again happy to discuss this further, although regardless we will get the SM up and running first. Kind regards, Ed
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Post by MoneyThing on Oct 26, 2015 11:30:11 GMT
Morning Ed; congratulations on getting the Cardiff loan away so quickly; it demonstrates the confidence that investors have in yourself and the platform. I'd support varying the launch times as long as the points re deposits were achievable. One other point; whilst I fully support limiting the amount of loan available to each investor on launch, is it still limited to one bid? If so, is this really required, especially on larger loans? Thank you jonno. Again, happy to discuss this. We could lift implementing any restrictions on loans totalling more than £XXX,XXX. Regards, Ed
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SteveT
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Post by SteveT on Oct 26, 2015 11:37:30 GMT
Morning Ed; congratulations on getting the Cardiff loan away so quickly; it demonstrates the confidence that investors have in yourself and the platform. I'd support varying the launch times as long as the points re deposits were achievable. One other point; whilst I fully support limiting the amount of loan available to each investor on launch, is it still limited to one bid? If so, is this really required, especially on larger loans? Thank you jonno. Again, happy to discuss this. We could lift implementing any restrictions on loans totalling more than £XXX,XXX. Regards, Ed I think some sort of initial bid restriction should be retained until / unless a Pre-funding capability is added. There are some very deep pockets around and I'd hate to see even a large loan gobbled up before the rest of MT lenders get a chance to invest. That said, for the very largest loans you might consider lifting the limit higher than 1% (2%? 5%?) and/or reducing the initial bid window (12 hours? 6 hours?)
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stevio
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Post by stevio on Oct 26, 2015 11:44:21 GMT
4pm works well as have time to liquidate funds, withdraw and have them transferred to MT. Please not 10am! (or any mornings)
Pre-funding works well on SS because you are able to easily sell any miss judgement, don't think that would work on MT
As much notice of loan as possible - min 48hrs, ideally 1x wk
Bid limits needed, please keep - big spenders can gobble up whats left the next day if they like
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pom
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Post by pom on Oct 26, 2015 11:50:22 GMT
Morning Ed; congratulations on getting the Cardiff loan away so quickly; it demonstrates the confidence that investors have in yourself and the platform. I'd support varying the launch times as long as the points re deposits were achievable. One other point; whilst I fully support limiting the amount of loan available to each investor on launch, is it still limited to one bid? If so, is this really required, especially on larger loans? Thank you jonno. Again, happy to discuss this. We could lift implementing any restrictions on loans totalling more than £XXX,XXX. Regards, Ed I think Jonno's question was more about combining shrapnel - eg a new loan might have a limit of £500 per 24hrs, you have £24 in your account and invest that, then get an interest payment come in of £5 but can't invest it until the next day by which time the loan may well be filled....
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