|
Post by sannytwist on Jul 31, 2017 23:14:37 GMT
Hmmm..... l just saw a glimpse of a bling loan on the SM for maybe 1 sec. Was just reading some other loans on the SM and the bling loan popped up only to disappear after a second or 2. There are bots for sure.
Doubt l'm gonna invest here, just nothing but property and cars (once in a blue moon).
Maybe time to consider unbolted.
|
|
hantsowl
Member of DD Central
Posts: 672
Likes: 546
|
Post by hantsowl on Jul 31, 2017 23:26:51 GMT
Hmmm..... l just saw a glimpse of a bling loan on the SM for maybe 1 sec. Was just reading some other loans on the SM and the bling loan popped up only to disappear after a second or 2. There are bots for sure. Doubt l'm gonna invest here, just nothing but property and cars (once in a blue moon). Maybe time to consider unbolted. Not necessarily a bot. Bling tends to go very quickly, and unless you are monitoring constantly you may miss it. It may have been available for anything up to a minute before you saw it. I use distill web monitor to notify me of changes to the available loans page and can usually pick up bits and pieces as they come up. Edit: There can be occasions when loans appear/disappear within a few seconds. This is usually when someone controlling more than one account moves the loan between them. The receiving account in this instance will be waiting for the loan and would be most likely to pick it up.
|
|
|
Post by geraldine1210 on Aug 13, 2017 14:07:19 GMT
About 2k of bling went through in about 15 minutes.
|
|
|
Post by elephantrosie on Aug 13, 2017 14:41:12 GMT
Approaching 100 grand of f/h block C (losing interest daily). Find it amusing.
The press and or what has been said on this forum is mainly aimed at housing estates. Apartment blocks will continue Freehold as ever, fairly confident about that.
Surprises a large number appear to have been scared off from this loan.
i thought apartments are the ones that are leasehold and most houses are freehold?
|
|
|
Post by elephantrosie on Aug 13, 2017 14:44:51 GMT
About 2k of bling went through in about 15 minutes. do these people who purchase loans so quickly have standby cash in their collaterals account?
|
|
|
Post by dan1 on Aug 13, 2017 14:46:00 GMT
About 2k of bling went through in about 15 minutes. do these people who purchase loans so quickly have standby cash in their collaterals account? Yes!
|
|
|
Post by elephantrosie on Aug 13, 2017 14:51:24 GMT
how much cash do people usually standby in their accounts?
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Aug 13, 2017 15:39:44 GMT
About 2k of bling went through in about 15 minutes. do these people who purchase loans so quickly have standby cash in their collaterals account? Yes. If you tried to transfer you would still be waiting 2 hours later. Edit - & on the 7th day Gord did rest (keep thinking it's Monday!) Edit 2 - deposits paid late Sun pm, that's dedication for you, thank you!
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Aug 13, 2017 15:40:02 GMT
how much cash do people usually standby in their accounts? No idea.
|
|
GeorgeT
Member of DD Central
Posts: 1,321
Likes: 1,575
|
Post by GeorgeT on Aug 13, 2017 20:40:21 GMT
how much cash do people usually standby in their accounts? None. I find COL very fast. Today I spotted some nice availability in fully funded small tranches of loans with relatively short queues and 14% and I thought why not bag a few days extra 14% interest using some spare cash sitting in the bank so I did a transfer in this afternoon and it was credited to my account within two minutes and I was able to snaffle up exactly what I wanted.
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Sept 7, 2017 12:36:13 GMT
New 15% tranche of DL00011 Bolton just gone live.......
|
|
applets
Member of DD Central
Posts: 125
Likes: 227
|
Post by applets on Sept 12, 2017 14:32:31 GMT
While supporting the decision to break a loan into tranches to improve liquidity, this appears to have been undermined by the decision in BL00051 to 54 to group purchases in different tranches for cashback purposes. Now we have four tranches with relatively large queues to sell. This can only deter many from lending in loans with cashback.
I wonder if the time has therefore come for Collateral to consider offering a choice between cashback or slightly higher interest loan tranches. Alternatively, as suggested by some others, perhaps cashback should only be payable when a loan repays.
Cashback is obviously very attractive - particularly for the big hitters. However, when large chunks of these loans are then returned to the SM on drawdown, the market can grind to a halt (as appears to be the case at the moment). Collateral obviously need to strike a balance between the needs of the various categories of lenders and the need to fill loans quickly. There might, however, just be room for a small shift in policy that better meets the needs of everyone.
(Declaration of interest - Yes, I have an interest in the loans in question, but no interest in selling at the current time)
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Sept 12, 2017 15:09:07 GMT
Col's primary interest is filling loans. Splitting the tranches worked a dream.
Disclaimer I sold my CB amount of BL46 but saw enough not to fall for the split tranche trick - a higher % flipped and taking up valuable mobile real estate!
|
|
GeorgeT
Member of DD Central
Posts: 1,321
Likes: 1,575
|
Post by GeorgeT on Sept 13, 2017 20:31:46 GMT
While supporting the decision to break a loan into tranches to improve liquidity, this appears to have been undermined by the decision in BL00051 to 54 to group purchases in different tranches for cashback purposes. Now we have four tranches with relatively large queues to sell. This can only deter many from lending in loans with cashback.
I wonder if the time has therefore come for Collateral to consider offering a choice between cashback or slightly higher interest loan tranches. Alternatively, as suggested by some others, perhaps cashback should only be payable when a loan repays.
Cashback is obviously very attractive - particularly for the big hitters. However, when large chunks of these loans are then returned to the SM on drawdown, the market can grind to a halt (as appears to be the case at the moment). Collateral obviously need to strike a balance between the needs of the various categories of lenders and the need to fill loans quickly. There might, however, just be room for a small shift in policy that better meets the needs of everyone.
(Declaration of interest - Yes, I have an interest in the loans in question, but no interest in selling at the current time) The issue that needs to be addressed IMO is the ability for Cashback hunters to sell out immediately (or try to) as soon as their accounts have been credited with the cashback. This should be ruled out. On £100k+ you get 4% cashback on drawdown. That's £4k in the back pocket for £100k on Day 1 and then list it all for sale and there's the possibilty to grab money for nothing. The amounts for sale in the recent CB tranches suggests that might have happened. I cashbacked on them and invested just over £5k in total to get 0.5% but I'm holding. I don't know how complicated it would be to write the software so that CB was only payable after holding the loan parts for x months or even until maturity but as it stands the cashback incentive does seem open to 'abuse' and in a way that's detrimental to the working of the SM. Yes it sells the PM but it then clogs up the SM as once people have pocketed the CB they look to sell out and flip. Some change needs to be made in future I would suggest. At least the cashback hunters aren't finding it easy to liquidate their funds at present. Probably a 1% bonus rate on PM purchases and no cashback is better because then only investors who hold will benefit. That seems fairer. As regards the smaller tranches I think this is a good idea.
|
|
p2pmark
Member of DD Central
Posts: 217
Likes: 186
|
Post by p2pmark on Sept 13, 2017 20:44:43 GMT
While supporting the decision to break a loan into tranches to improve liquidity, this appears to have been undermined by the decision in BL00051 to 54 to group purchases in different tranches for cashback purposes. Now we have four tranches with relatively large queues to sell. This can only deter many from lending in loans with cashback.
I wonder if the time has therefore come for Collateral to consider offering a choice between cashback or slightly higher interest loan tranches. Alternatively, as suggested by some others, perhaps cashback should only be payable when a loan repays.
Cashback is obviously very attractive - particularly for the big hitters. However, when large chunks of these loans are then returned to the SM on drawdown, the market can grind to a halt (as appears to be the case at the moment). Collateral obviously need to strike a balance between the needs of the various categories of lenders and the need to fill loans quickly. There might, however, just be room for a small shift in policy that better meets the needs of everyone.
(Declaration of interest - Yes, I have an interest in the loans in question, but no interest in selling at the current time) The issue that needs to be addressed IMO is the ability for Cashback hunters to sell out immediately (or try to) as soon as their accounts have been credited with the cashback. This should be ruled out. On £100k+ you get 4% cashback on drawdown. That's £4k in the back pocket for £100k on Day 1 and then list it all for sale and there's the possibilty to grab money for nothing. The amounts for sale in the recent CB tranches suggests that might have happened. I cashbacked on them and invested just over £5k in total to get 0.5% but I'm holding. I don't know how complicated it would be to write the software so that CB was only payable after holding the loan parts for x months or even until maturity but as it stands the cashback incentive does seem open to 'abuse' and in a way that's detrimental to the working of the SM. Yes it sells the PM but it then clogs up the SM as once people have pocketed the CB they look to sell out and flip. Some change needs to be made in future I would suggest. At least the cashback hunters aren't finding it easy to liquidate their funds at present. Probably a 1% bonus rate on PM purchases and no cashback is better because then only investors who hold will benefit. That seems fairer. As regards the smaller tranches I think this is a good idea. I agree with most of this (if cashback is given, I think it should only be given for the chunk that is held to term). But I think cashback actually makes the loan fill more slowly. I'm less likely to invest in a loan that has cashback for the SM reasons you give. My first preference would be to abolish cashback and put the savings into the a slightly higher rate for everybody. I recognise that there are tax advantages to cashback but this feels like a loophole waiting to be closed. Having said this, maybe the cashback is only tax-free if it's paid instantly rather than at term. I don't know much about the reason for it being tax-free....
|
|