upland
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Post by upland on Sept 30, 2016 15:15:08 GMT
I have only got 23. There must be a maximum that you can have determined by the number of active loans that they have within the average period of the loans (1 year or less ?) beyond which one cannot go.
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pom
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Post by pom on Oct 7, 2016 13:47:01 GMT
Oooh just happened to log in thinking shall I maybe pay some more in yet and see that after a couple of repayments/reinvestments I am now in 40 investments averaging 5.16%, max 4.6% in any one loan - not bad for 4 deposits and just over 2 months.
Edit - and even better having just made a deposit I saw a new message at the top of the screen (before I hit OK I think) telling me there were currently 39 loans open for investment, with an average of 4.9% return (I think) so they have been listening...
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Post by pedz14 on Oct 7, 2016 15:14:22 GMT
I have found that there appears to be two ways to see the current loans and average return. The first as Pom mentions, is that when you hit the green invest button to take you to the deposit screen there is a green banner with the information on it, the other is if you click the 'Our Statistics' tab up the top of the page after login the same information appears down the bottom.
Currently there are 26 loans with an average return of 4.9%.
Lets hope I can get my current investments up from the 25 at present.
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littonowl
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Post by littonowl on Oct 10, 2016 9:22:04 GMT
I have found that there appears to be two ways to see the current loans and average return. The first as Pom mentions, is that when you hit the green invest button to take you to the deposit screen there is a green banner with the information on it, the other is if you click the 'Our Statistics' tab up the top of the page after login the same information appears down the bottom. Currently there are 26 loans with an average return of 4.9%. Lets hope I can get my current investments up from the 25 at present. Spotted this over the weekend too, and target rate had increased to 5.1%, so added to my father's investment in the hope of diversifying on his current tally of 11 loans. All his cash was invested by 10am Monday morning when I checked, and yet unfortunately he still has just 11 loans, so I'm wondering how reliable those statistics really are? Surely 15 loans couldn't have gone in the first hour or so, only to be left with the same 11 loans that were on offer last week...!? Also his interest rate is still down at 4.77%, so you definitely need to take the target rate with a pinch of salt. Algo's seem very hit and miss, so doesn't give me much confidence to add more on his behalf, if there's no way of guaranteeing sufficient diversification.
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bigfoot12
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Post by bigfoot12 on Oct 10, 2016 9:29:10 GMT
I have had a similar experience to littonowl. I see "There are currently X loans available for a total average rate of 5.1%" before I invested this morning, after I invested and after I was allocated and yet my investment was 4.9%. The X was mainly 11. Note that this isn't saying target rate this is telling me what is available. Not that impressed.
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upland
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Post by upland on Oct 10, 2016 9:46:10 GMT
Indeed , I am chasing a bank transfer in and have been checking the account often. Its gone from 26 to 11 to 9 and I am sure that it was something else earlier this morning. I see that he funds invested have gone down slightly.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 10, 2016 10:12:45 GMT
I suspect the answer is that they dont process investments over the weekend so any loan related figures you see arent realtime. Your money goes into a queue and gets processed on Mon. if youre at the front of the queue you get the full spectrum of loans, if you're further back some of the laons will be filled by earlier money and so you get less diversification and probably a lower rate. So answer is dont invest between Fri PM and early Mon. My first investment was made late Fri but not invested until Mon so Ive worked on that basis for any topups. vanessaiman perhaps you could respond to the last few posts and clarify?
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upland
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Post by upland on Oct 10, 2016 11:07:06 GMT
Thats true , their customer service tell me that the funds are there now. I thought that I put them through in the morning. Seems to be 13 open loans as I write and the 'lent so far' has gone from 19.99 to 21.57 !
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Post by pedz14 on Oct 10, 2016 16:36:26 GMT
So I just checked my deposit that went in on Friday, which didn't clear my bank until Saturday. Sat pending with Octopus until this morning.
It was broken up into 17 loans, only one of which was new to me. Interest rate over those works out at 4.6%. Not close enough to the 5.1% average that was advertised in my opinion and manages to bring my overall average down.
Wouldn't have bothered if I knew what I was going to end up with.
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littonowl
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Post by littonowl on Oct 10, 2016 17:04:06 GMT
So I just checked my deposit that went in on Friday, which didn't clear my bank until Saturday. Sat pending with Octopus until this morning. It was broken up into 17 loans, only one of which was new to me. Interest rate over those works out at 4.6%. Not close enough to the 5.1% average that was advertised in my opinion and manages to bring my overall average down. Wouldn't have bothered if I knew what I was going to end up with. Sounds very similar to my experience. Supposedly 27 loans open again now at EOD, though not sure I believe that. Will monitor this tomorrow, to see if the levels drop once the market opens again...
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upland
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Post by upland on Oct 10, 2016 20:24:26 GMT
So I just checked my deposit that went in on Friday, which didn't clear my bank until Saturday. Sat pending with Octopus until this morning. It was broken up into 17 loans, only one of which was new to me. Interest rate over those works out at 4.6%. Not close enough to the 5.1% average that was advertised in my opinion and manages to bring my overall average down. Wouldn't have bothered if I knew what I was going to end up with. You are lucky , My Friday money has been in a queue awaiting investment since 2PM today and there are supposed to be 27 loans currently open.
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jonah
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Post by jonah on Oct 10, 2016 21:05:39 GMT
I would agree the rate varies a far bit. No obvious trends yet though.
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binkle
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Post by binkle on Oct 10, 2016 22:27:40 GMT
So I just checked my deposit that went in on Friday, which didn't clear my bank until Saturday. Sat pending with Octopus until this morning. It was broken up into 17 loans, only one of which was new to me. Interest rate over those works out at 4.6%. Not close enough to the 5.1% average that was advertised in my opinion and manages to bring my overall average down. Wouldn't have bothered if I knew what I was going to end up with. Sounds very similar to my experience. Supposedly 27 loans open again now at EOD, though not sure I believe that. Will monitor this tomorrow, to see if the levels drop once the market opens again... My experience very similar. Seems like weekend investing not a sensible move at present.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 10, 2016 23:08:35 GMT
Again same experience! If the moving advertised rate is supposed to be an average does anyone have a rate above the average? Did when I first invested but not after subsequent top ups/redemptions. Earlier rates were as high as 8%+ on a few loans, with a fair few in the 5-6% range, so averaged 5.6% well above advertised rate, now running at 5%.
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james
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Post by james on Oct 11, 2016 4:55:19 GMT
If you'd like credibility it would be good not to write things like "some of the best interest rates on the market" when referring to a 5% target rate. Describing the rates as mediocre or less than half of the rates available for the type of lending being done would seem to be more accurate. For some context on rates, it seems readily available in the UK P2P space to offer to investors 12% before bad debt on bridging or property development loan deals. Given the relatively low rates on offer the product might work best as a place to park money for relatively short terms while waiting for higher paying deals to come along elsewhere. I'm curious about something else. On your front page there is this quote "I've been an active peer-to-peer investor for a couple of years and I've been waiting for a site like Orca that comprehensively compares products. It's a great tool that helps me make better and faster investment decisions" adjacent to a picture of a person. Is that person actually the person named as the source of the quote?
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