|
Post by MoneyThing on Nov 12, 2015 22:01:20 GMT
I'm sure £100 would work very nicely for most - certainly for me. Thanks very much. It's worth noting that with your 2 week funding period, some may be inclined to monitor the rate at which the tranche is filling and invest close to the end, to maximise returns. Ablrate address this by paying instant returns, meaning there is no incentive to hold off. Your offer is clearly more generous than that, but there are plenty of people who like to "optimise" their investments wherever possible. Acknowledged. I can appreciate some may wish to invest at the last minute with this particular setup. Whilst not possible this time, we may well consider an alternative system when we next offer loans that we have not funded outright first. Regards, Ed. Perhaps I should have introduced a weighted CB facility so that early investors get a higher CB and late investors a lower amount. I am also getting enquiries from potential underwriters so there might be the chance that the loan could drawdown before it reaches 100% on the platform.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,888
Likes: 11,110
|
Post by ilmoro on Nov 12, 2015 22:11:08 GMT
Imho there is a danger of a "mexican standoff" here. Will be all be waiting until the 11th hour and then a frenzy of bidding? Define 11th hour? I might hedge and go for the 10th hour... Sets reminder for 9th hour 59th minute 59th second & so on to 40dp ;-)
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Nov 12, 2015 22:12:29 GMT
Perhaps I should have introduced a weighted CB facility so that early investors get a higher CB and late investors a lower amount. If the platform could manage it, perhaps, but that might penalise those who need to free up capital from elsewhere, rather than just the "optimisers". I am also getting enquiries from potential underwriters so there might be the chance that the loan could drawdown before it reaches 100% on the platform. Ahh, cunning. Throwing in some jeopardy, you dog...!
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Nov 12, 2015 22:39:29 GMT
Define 11th hour? I might hedge and go for the 10th hour... Sets reminder for 9th hour 59th minute 59th second & so on to 40dp ;-) hmmmmm 21:58 and 58 secs for me now
|
|
|
Post by uncletone on Nov 12, 2015 23:20:05 GMT
Acknowledged. I can appreciate some may wish to invest at the last minute with this particular setup. Whilst not possible this time, we may well consider an alternative system when we next offer loans that we have not funded outright first. Regards, Ed. One of the things I really enjoy about this platform is the warm feeling I get that I am contentedly retired and not you, young Ed! Don't weaken!
|
|
jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Nov 13, 2015 0:24:53 GMT
Until I am clear on how and when the SM will work, I am just not willing to bid a significant amount on this loan.
Ed, please advise whether there is any chance of the SM going live before this loan draws down?
|
|
paulgul
Member of DD Central
Posts: 401
Likes: 92
|
Post by paulgul on Nov 13, 2015 8:42:11 GMT
Ed, please advise whether there is any chance of the SM going live before this loan draws down? Should be, in another thread (dated 20th Oct) Ed said: The SM is still very much on the cards and the latest update from Shuang is "3 to 4 weeks max".So that could be any time now - at least within the next week - fingers crossed
|
|
Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
Likes: 201
|
Post by Investboy on Nov 13, 2015 9:52:05 GMT
Perhaps I should have introduced a weighted CB facility so that early investors get a higher CB and late investors a lower amount. As I already invested my allocation I'm all up for it! But please do not implement this but rather focus on: ...Ed, please advise whether there is any chance of the SM going live before this loan draws down? My thoughts exactly as I already mentioned in exposure to MT.
|
|
|
Post by MoneyThing on Nov 13, 2015 9:55:56 GMT
Morning,
Having just been catching up Shuang this morning, the SM is still on track for launch at the end of this month. (The only risk that it could overunn by a couple of days only if anything significant is identified during testing during the week commencing the 23rd).
Kind regards,
Ed
|
|
bjorn
Posts: 102
Likes: 39
|
Post by bjorn on Nov 13, 2015 10:57:11 GMT
£3.5m required from 656 registered investors is hefty £5.3k per investor. I hope you get it Ed but I suspect you need some new investors for this one. It's a big step up but welcome all the same. £3.5m is more than the sum total of all the other loans funded on MT to-date - it more than doubles their total loanbook. So another way to look at this is that if they're to raise that from existing investors everyone needs to at least match their total investment in MT to-date on this new loan. Of course, the possibilities of new investors, underwriters and only doing the first of the two tranches could reduce those numbers. But the headline figure seems quite a long shot. I'm also hopeful that it all goes ahead.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Nov 13, 2015 11:08:02 GMT
£3.5m required from 656 registered investors is hefty £5.3k per investor. I hope you get it Ed but I suspect you need some new investors for this one. It's a big step up but welcome all the same. £3.5m is more than the sum total of all the other loans funded on MT to-date - it more than doubles their total loanbook. So another way to look at this is that if they're to raise that from existing investors everyone needs to at least match their total investment in MT to-date on this new loan. Of course, the possibilities of new investors, underwriters and only doing the first of the two tranches could reduce those numbers. But the headline figure seems quite a long shot. I'm also hopeful that it all goes ahead. True but then, as ilmoro already pointed out, Ed received more than £4m in pledges against a previous potential big loan so there are plenty of people out there prepared to invest large sums in MT. Although the rate on this loan is lower, the effect of 1.5% upfront cashback over a few months (for those planning to invest heavily and reduce via the SM later) is considerable. I suspect it will fill OK but possibly won't look like it's going to until rather late on (once underwriters show their hands by bidding or else Ed can confirm he has sufficient underwriting pledged).
|
|
jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Nov 13, 2015 11:43:40 GMT
Morning, Having just been catching up Shuang this morning, the SM is still on track for launch at the end of this month. (The only risk that it could overunn by a couple of days only if anything significant is identified during testing during the week commencing the 23rd). Kind regards, Ed So the SM will not be in place before this tranche of the loan draws down?
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Nov 13, 2015 11:47:48 GMT
Although the rate on this loan is lower, the effect of 1.5% upfront cashback over a few months (for those planning to invest heavily and reduce via the SM later) is considerable. have I missed something? I thought the rate for the loan was the usual 12% pa or 1% per month?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Nov 13, 2015 11:48:50 GMT
Although the rate on this loan is lower, the effect of 1.5% upfront cashback over a few months (for those planning to invest heavily and reduce via the SM later) is considerable. have I missed something? I thought the rate for the loan was the usual 12% pa or 1% per month? I meant lower than the 18% rate that the "whopper loan" pledges were made against (see the "Expression of Interest" thread)
|
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Nov 13, 2015 11:53:42 GMT
thanks I had forgotten that one
|
|