gurberly
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Post by gurberly on Sept 29, 2016 17:51:29 GMT
xx snip xx One of the advantages of pre-funding is that it would be blindingly obvious when a loan was going to be oversubscribed, so the max could be adjusted ahead of time. People can change their pre-funding up and down right up to the minute of release (well I do on SS depending on funds available!!) But in setting a max, MT then have to stick with it otherwise you'll be hitting the issue of people selling loans, or transferring in fresh funds to fund a previously advised max limit that then gets reduced = unhappy bunnies. Didn't we just have a thread about that? Steve
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ben
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Post by ben on Sept 29, 2016 21:24:00 GMT
Think the bid limits are fine just need looking a, maybe smaller for first few hours then larger afterwards to give everyone fair crack.
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Post by Deleted on Sept 30, 2016 2:09:09 GMT
Too much lender demand due to MoneyThing being too successful and efficient More loans please!
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archie
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Post by archie on Sept 30, 2016 6:20:43 GMT
Increased loan sizes would require MT to increase their float, not sure how easy that might be. Platform needs to be able to cope, particularly if we are to keep one of the best features on MT where loans are repaid on time if you choose not to rollover. I'd argue that people are more likely to retain a loan because they know they can get out on time if they choose to. People will always game pre-funding which is one of the reasons I don't like it. As the allocations get smaller and smaller I wouldn't be surprised to see an influx of new members just to work around the limits (e.g. accounts opened for partners or family members but actually operated by the same person).
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archie
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Post by archie on Sept 30, 2016 6:27:25 GMT
Graduated bids as per Ben above not a bad idea. Eg yesterday I hung around for the railwayana limit to lift, there was nearly 3k left, and the lot went while I pressed f5. If it had been raised to £100 after 12 hours then it still encourages broad investment and doesn't allow the bots to get the lot. Railwayana, FS?
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Sept 30, 2016 9:40:57 GMT
Hi Everyone, Just to confirm a few things: When we place bids for lenders we do so in exactly the same way as everyone else. We log on as the lender just before 4pm, and when the loan is set live, we refresh the page and place the bid. We don't place bids before 4pm. We have ten bids to place today and only a small team here and we do them in the order that they come in. If you ask us to place a bid on your behalf, you take a chance that we might not be able to place one. It is not a scaleable solution of course, just something we are doing for now to help lenders out where we can. In the longer term, we are thinking through the options suggested here and playing with bid limits to give everyone a better chance. Of course the best solution is to have better deal flow and we're working on that too. Kind regards Sophie You should charge for this service
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investibod
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Post by investibod on Sept 30, 2016 13:12:53 GMT
Hi Everyone, Just to confirm a few things: When we place bids for lenders we do so in exactly the same way as everyone else. We log on as the lender just before 4pm, and when the loan is set live, we refresh the page and place the bid. We don't place bids before 4pm. We have ten bids to place today and only a small team here and we do them in the order that they come in. If you ask us to place a bid on your behalf, you take a chance that we might not be able to place one. It is not a scaleable solution of course, just something we are doing for now to help lenders out where we can. In the longer term, we are thinking through the options suggested here and playing with bid limits to give everyone a better chance. Of course the best solution is to have better deal flow and we're working on that too. Kind regards Sophie You should charge for this service What would you suggest the rate should be - In chocolate of course
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