|
Post by stevem on Jun 30, 2017 16:23:37 GMT
It is one of the things we are working on now. Regards Ablrate Hi ablrate - are you still working on that small but important improvement? I thought someone must have asked for this before glad to find it so quickly Having the loan ID in a seperate column would be really useful - save having to use all kinds of Excel text functions just to work out effcetive returns on completed loans.
|
|
|
Post by ablrate on Jun 30, 2017 16:36:03 GMT
Hi ablrate - are you still working on that small but important improvement? I thought someone must have asked for this before glad to find it so quickly Having the loan ID in a seperate column would be really useful - save having to use all kinds of Excel text functions just to work out effcetive returns on completed loans. We are in the middle of a redesign... so this will all be fixed when that gets done.. but will see if the devs can fit it in now...
|
|
|
Post by dan1 on Jul 15, 2017 19:39:56 GMT
ablrate would it be possible to list the outstanding loan size on the secondary market rather than the original loan size? I think it's more informative for investors to know the capital outstanding for amortising loans.
|
|
shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
|
Post by shimself on Aug 3, 2017 15:56:21 GMT
Don't log me out when I am composing loan comments (Q&A)
There I was stepping the the water company proposition, adding questions (comments) then deleting them as the answers appeared. I got to the end of my exploration, pressed send and - the damn site said I had to log in and all my lovely comments were zilched!
|
|
shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
|
Post by shimself on Aug 3, 2017 16:00:19 GMT
Get proactive with connected loans.
The water loan shows a conection with loan 10072. But 10072 says it's not connected with anything else (which was true when it was launched but is not true as viewed on the SM)
|
|
greenslime
Member of DD Central
Posts: 111
Likes: 144
|
Post by greenslime on Aug 3, 2017 17:37:25 GMT
ablrate I'd still like on the SM to just enter my budget for a trade and then how much I get is worked out for me. This
|
|
shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
|
Post by shimself on Aug 4, 2017 13:19:55 GMT
As per my post yesterday I took a good luck at this loan yesterday within a couple of hours of it going live. I posted a couple of comments (questions), one of which was that I thought their sums were wrong, and the other one was erm, I forget. And then not too long after the loan filled.
Two things follow. The first is that posting the loan and opening it for bidding at the same time means that people are tempted to bid (to invest) without having the chance to do due diligence. I suggest there should be a delay (72 hours?) between posting the loan details and opening it for investment. (You are not alone in this, and I have proposed it to the FCA when they were trawling for input)
Secondly, well personally I don't think you should prescreen comments at all, but given that you do, you might at least do me the courtesy of emailing me a remider of my input. What will you do with my comment seeing as it's moot?
|
|
|
Post by everflow on Aug 4, 2017 19:25:52 GMT
As per my post yesterday I took a good luck at this loan yesterday within a couple of hours of it going live. I posted a couple of comments (questions), one of which was that I thought their sums were wrong, and the other one was erm, I forget. And then not too long after the loan filled. Two things follow. The first is that posting the loan and opening it for bidding at the same time means that people are tempted to bid (to invest) without having the chance to do due diligence. I suggest there should be a delay (72 hours?) between posting the loan details and opening it for investment. (You are not alone in this, and I have proposed it to the FCA when they were trawling for input) Secondly, well personally I don't think you should prescreen comments at all, but given that you do, you might at least do me the courtesy of emailing me a remider of my input. What will you do with my comment seeing as it's moot? For what it's worth I would agree with shimself about possibly having an opening window where investors had a chance to review the documentation. I can see a few benefits for both borrowers and lenders. For lenders: - Chance to do full due diligence with no risk of "missing out" on the loan - Chance for lenders to ask questions and get answers before it goes live as part of that due diligence. For borrowers: - If there are areas that need clarifying / ammending then it gives the chance for borrowers to provide that clarification before it goes live, meaning that people are more likely to invest if the borrower is engaging with the investors in the run up. Just my 2p worth from the borrower side of things!
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Aug 4, 2017 20:20:27 GMT
a borrower agreeing with lenders,this will never catch on-but the positive feedback is good
|
|
|
Post by GSV3MIaC on Aug 5, 2017 6:56:21 GMT
Yes a pleasant change from the sometimes seen response of 'my loan is now fully funded so go away and quit bothering me'. Let's hope ABl can round up a few more similar, before the ISA really gets rolling.
|
|
|
Post by everflow on Aug 5, 2017 9:51:34 GMT
I can understand the way some people approach P2P platforms; they treat them more like a traditional bank loan. I've always done business via building relationships through trust and communication, and I see P2P lending as a platform that is much more akin to a stock market, where regular engagement with investors is vital for inspiring confidence, trust and ultimately long term investment in the business. Back on topic, I have a few suggestions for developing the platform from a borrower side, to enhance engagement with lenders which I think could set ablrate apart from some of the competition. Will discuss with the guys on Monday.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 5, 2017 12:48:35 GMT
Yes a pleasant change from the sometimes seen response of 'my loan is now fully funded so go away and quit bothering me'. Let's hope ABl can round up a few more similar, before the ISA really gets rolling. I have mixed feelings about that. Once the loan is funded, I like to think that the business owner is spending every hour running the business to ensure the repayments are made. Too much engagement on the forum might also be suggestive of a subsequent 'tranche' being anticipated. There is evidence, from our posting statistics, that this forum is a place for those with time to waste - which does not include borrowers. Great to have borrower participation, but borrowers can expect nothing they say to be taken at face value, and should expect every post to be subjected to the hermeneutics of suspicion.
|
|
nick
Member of DD Central
Posts: 1,055
Likes: 825
|
Post by nick on Aug 14, 2017 0:52:05 GMT
Hi All After a few weeks of brain scratching the agreement system is now active. Those of you in the latest loan to be drawn down will have received your agreement details. As and when you trade on the SM you will receive restated ones. We have tested extensively, but as with everything when a lot if users start using it we may see some bugs, please do report these to us along with any comments, we are very keen for you input - good or bad. Almost completed on all others and will be making these live in the SM again soon. Will also now be going through suggestions here, so keep em coming. Regards Ablrate ablrateIs there a good reason on why we are restricted to downloading novation agreements only once before before having to contact you any further/future copies? I only realised the restriction when attempting to reconcile a balance which I must have previously downloaded the novation/revised balance agreements (which I did not keep) and thus was not permitted to download these again. It would be comforting to know that we can access these agreement electronically readily without restriction rather than having to manually save them or tie up your time by manually requesting copies. It would be even more useful if the transaction history/account statement gave premia/discount and accrued interest amounts on SM buy transactions (ie the same detail of info that is currently provided on sell transactions). If this info could be provided, and the last few glitches of random transaction descriptions eliminated (I recently had a buy transaction being labelled a cancelled bid?), it would hugely assist lenders in readily reconciling their accounts from a single comprehensive info source.
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Aug 14, 2017 1:58:03 GMT
Hi All After a few weeks of brain scratching the agreement system is now active. Those of you in the latest loan to be drawn down will have received your agreement details. As and when you trade on the SM you will receive restated ones. We have tested extensively, but as with everything when a lot if users start using it we may see some bugs, please do report these to us along with any comments, we are very keen for you input - good or bad. Almost completed on all others and will be making these live in the SM again soon. Will also now be going through suggestions here, so keep em coming. Regards Ablrate ablrateIt would be even more useful if the transaction history/account statement gave premia/discount and accrued interest amounts on SM buy transactions (ie the same detail of info that is currently provided on sell transactions). If this info could be provided, and the last few glitches of random transaction descriptions eliminated (I recently had a buy transaction being labelled a cancelled bid?), it would hugely assist lenders in readily reconciling their accounts from a single comprehensive info source. I have spent weeks of my life trawling abl emails and managing inelegant excel solutions to reconcile my account to cash, an appalling waste of time. Abl have stated that the site changes they're making at the mo should pull these out immediately for us although I didn't see anything after the isa upload .
|
|
nick
Member of DD Central
Posts: 1,055
Likes: 825
|
Post by nick on Aug 14, 2017 8:01:27 GMT
ablrate It would be even more useful if the transaction history/account statement gave premia/discount and accrued interest amounts on SM buy transactions (ie the same detail of info that is currently provided on sell transactions). If this info could be provided, and the last few glitches of random transaction descriptions eliminated (I recently had a buy transaction being labelled a cancelled bid?), it would hugely assist lenders in readily reconciling their accounts from a single comprehensive info source. I have spent weeks of my life trawling abl emails and managing inelegant excel solutions to reconcile my account to cash, an appalling waste of time. Abl have stated that the site changes they're making at the mo should pull these out immediately for us although I didn't see anything after the isa upload . To date, I have been over reliant on assuming that all their back systems are correctly recording all my transactions. However, I have significantly increased my investment levels in recent months so have started to perform periodic account reconciliations to give comfort that no material errors lurk. I had assumed this would be a relatively painless exercise - how naive I was! It is comforting that I have yet to identify any errors/anomalies in my account (ignoring the issue of lifting offers that have changed between the reviewing/confirming the trade summary and execution). elliotn have you identified any errors in your account and/or noted any transactions that are more prone to error when reconciling your account (assuming you are eventually able to do so)?
|
|