slush
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Here to learn. Please be gentle.
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Post by slush on Aug 10, 2017 8:15:45 GMT
Staggered Renewals again today will no doubt mean that they were snapped up by the same few. Not the fairest way to distribute these snippets of bling loans.
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hantsowl
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Post by hantsowl on Aug 10, 2017 8:22:25 GMT
Staggered Renewals again today will no doubt mean that they were snapped up by the same few. Not the fairest way to distribute these snippets of bling loans. Agreed. I am sure that at least one person is using a bot, so they are guaranteed a slice of every renewal. As I mentioned in an earlier post, for small renewals a smaller limit (£10 or even £5) would give more people a bite of the loan and would seem a much fairer way to handle this.
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applets
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Post by applets on Aug 10, 2017 8:32:47 GMT
Staggered Renewals again today will no doubt mean that they were snapped up by the same few. Not the fairest way to distribute these snippets of bling loans. Agreed. I am sure that at least one person is using a bot, so they are guaranteed a slice of every renewal. As I mentioned in an earlier post, for small renewals a smaller limit (£10 or even £5) would give more people a bite of the loan and would seem a much fairer way to handle this. Often the same buyer name appears on these smaller renewals which makes you wonder how they can be so successful.
To be honest, unless there is a large sum up for renewal, I no longer bother. No doubt those who secure £25 with the prospect of £1.50 interest will disagree and consider it time well spent!
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Post by angrykittens on Aug 10, 2017 8:46:29 GMT
If you look at the 3 smallest loans which renewed at £25, £32 and £100 respectively there is only 1 person that got a piece in more than 1 - W ******** P got £25 in the smallest and £7 in the second smallest, but nothing in the £100 renewal.
A few of the same names are present in the £344 renewal, but that's to be expected, with up to 14 available pieces. This is even assuming all the investors listed have unique initials, which is obviously not going to be true for everyone on the site.
I did relatively well today getting 2/4, but other days I have not managed to get any, even when bigger renewals have been available. So i definitely don't think the same people get a slice every single time.
I really don't want to see loans limited any further than £25 - £1.5 interest over the loan term makes it just about worth a few minutes.
I also think releasing loans in one fell swoop instead of staggered won't help anyone - further website congestion / time outs only helps people with the fastest internet, while also allowing people who may use bots to open multiple tabs and let the bot have at it for every loan anyway.
As a side note, I'm grabbing these renewals from a work computer that effectively gets it's internet piped from America (although I'm physically located in the UK), so I refuse to believe that I'm near the top in any capacity when it comes to ping or internet speed accessing COL servers here in Britain.
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hantsowl
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Post by hantsowl on Aug 10, 2017 9:06:29 GMT
If you look at the 3 smallest loans which renewed at £25, £32 and £100 respectively there is only 1 person that got a piece in more than 1 - W ******** P got £25 in the smallest and £7 in the second smallest, but nothing in the £100 renewal. A few of the same names are present in the £344 renewal, but that's to be expected, with up to 14 available pieces. This is even assuming all the investors listed have unique initials, which is obviously not going to be true for everyone on the site. I did relatively well today getting 2/4, but other days I have not managed to get any, even when bigger renewals have been available. So i definitely don't think the same people get a slice every single time. I really don't want to see loans limited any further than £25 - £1.5 interest over the loan term makes it just about worth a few minutes. I also think releasing loans in one fell swoop instead of staggered won't help anyone - further website congestion / time outs only helps people with the fastest internet, while also allowing people who may use bots to open multiple tabs and let the bot have at it for every loan anyway. As a side note, I'm grabbing these renewals from a work computer that effectively gets it's internet piped from America (although I'm physically located in the UK), so I refuse to believe that I'm near the top in any capacity when it comes to ping or internet speed accessing COL servers here in Britain. Interesting that you mention the account that I have been convinced for a while is running a bot!!
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applets
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Post by applets on Aug 10, 2017 9:26:07 GMT
The reported poor performance is probably just down to the frenzy that accompanies jewellery etc renewals. The fact that there have not been any new loans for a while and that bling is now a reducing part of the Collateral loan book, does not help when the demand for such loans is clearly there.
As has been mentioned before by others, it is perhaps inevitable that platforms move towards property as a means of increasing their profitability, reducing their workload and the need to deal with large numbers of small loans .... Collateral is unfortunately no longer the platform that encouraged many lenders to join. Others have already pointed out that platforms such as Unbolted offer borrowers a better deal for pawn and this may well explain why Collateral does not receive many/ any approaches. Of course, lower rates for borrowers are accompanied by lower rates for lenders and, if you want a say in your investments and a secondary market, Unbolted may not be the one for you. It does however have a steady stream of new loans almost every day for those using auto lend as well as a provision fund.
Collateral may well be (or become) one of the better property websites. It's loan book is still relatively small and young. There have also been questions asked by members of this platform that have led to loans being withdrawn or terms varied.
On balance, Collateral is probably a pretty good platform for platform diversity. Perhaps not so good anymore for asset diversification.
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applets
Member of DD Central
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Post by applets on Aug 10, 2017 18:27:10 GMT
If you look at the 3 smallest loans which renewed at £25, £32 and £100 respectively there is only 1 person that got a piece in more than 1 - W ******** P got £25 in the smallest and £7 in the second smallest, but nothing in the £100 renewal. A few of the same names are present in the £344 renewal, but that's to be expected, with up to 14 available pieces. This is even assuming all the investors listed have unique initials, which is obviously not going to be true for everyone on the site. I did relatively well today getting 2/4, but other days I have not managed to get any, even when bigger renewals have been available. So i definitely don't think the same people get a slice every single time. I really don't want to see loans limited any further than £25 - £1.5 interest over the loan term makes it just about worth a few minutes. I also think releasing loans in one fell swoop instead of staggered won't help anyone - further website congestion / time outs only helps people with the fastest internet, while also allowing people who may use bots to open multiple tabs and let the bot have at it for every loan anyway. As a side note, I'm grabbing these renewals from a work computer that effectively gets it's internet piped from America (although I'm physically located in the UK), so I refuse to believe that I'm near the top in any capacity when it comes to ping or internet speed accessing COL servers here in Britain. Interesting that you mention the account that I have been convinced for a while is running a bot!! Agreed.
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oldgrumpy
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Post by oldgrumpy on Aug 16, 2017 9:05:02 GMT
Huh. Tried to invest my £25 (on top of my £50) in today's jewellery, and I wasn't allowed to. The site tried to deduct £25 rather than add it! (I think)
"There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired."
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tomp
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Post by tomp on Aug 16, 2017 9:06:01 GMT
I have the same problem
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liso
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Post by liso on Aug 16, 2017 9:06:39 GMT
Me too!
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ganymede
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Post by ganymede on Aug 16, 2017 9:07:15 GMT
Same problem here £50 already pre-funded, and adding £25 bid gets rejected with -25.
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oldgrumpy
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Post by oldgrumpy on Aug 16, 2017 9:08:24 GMT
Has anyone actually clicked "confirm" to find out what actually happens?
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tomp
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Post by tomp on Aug 16, 2017 9:09:47 GMT
yes, you get "please enter an investment amount"
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oldgrumpy
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Post by oldgrumpy on Aug 16, 2017 9:53:05 GMT
I'm not impressed that collateral has not even acknowledged that there is a problem nearly an hour after it has been reported to them. edit. Corrected at about 11:58. The three hour bid limit starts from then rather than the original 10:00.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 16, 2017 10:16:25 GMT
Fixed
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