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Post by polonius on Feb 8, 2017 16:34:17 GMT
Two questions please, Gordon... Can you pre-fund right up to the moment of go live or is there a cut-off time? If pre-funding is oversubscribed how would you deal with it? I see these possibilities- - FFF - earliest pre-funders get their requested amount until all gone
- Bottom up - all pre-funds filled equally until all gone
- Proportional - all pre-funds scaled down equally
- Any of above plus a proportion retained for go live FFF
- Something completely different
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keystone
Member of DD Central
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Post by keystone on Feb 8, 2017 16:35:29 GMT
Well, I could have done with a cancel facility today. I pre-funded the first loan before the second was up. Decided to pre-fund the second but didn't have enough funds. Had to sell some other loans in order to pre-fund the second loan. If the cancel option was available I could have reduced my pre-fund of the first loan and used the spare cash to fund the second loan. So I would have welcomed a cancel facility being available.
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Post by sannytwist on Feb 8, 2017 17:47:17 GMT
Both pre funded loans available is at roughly 50% filled. It seems the option to pre fund loan is very popular with lenders and should see more taken overnight and into the early morning. Possibly max filled 100% before we get a chance to invest the other £100 on both loans. Thumbs up for Collateral for working on this , seems like the new function will be greatly appreciated . keep up the good work !
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Post by Collateral Rep on Feb 8, 2017 17:53:16 GMT
Hi polonius, We've added a cut off time of 10 minutes before to prevent any overlap issues. As for the pre-fund stage oversubscribing, that wouldn't happen as it would just fill and be unavailable to take any further loan parts. This is why the pre-fund amount is lower than the bid limit so we can make every effort for this not to happen. If this becomes an issue we can cap the pre-funding level to say 75%. Many thanks, Gordon
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Post by Collateral Rep on Feb 8, 2017 17:56:26 GMT
Hi keystone, As this was the first run through with the pre-funding facility, we made a couple of changes which resulted in the two loan announcement being late. We normally announce all loans at the same time as loan launch, so this shouldn't happen in the future. Many thanks, Gordon
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fp
Posts: 1,008
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Post by fp on Feb 8, 2017 18:29:02 GMT
IMHO, if I click the commit button when investing a loan, I've committed myself to investing.... i either have to stay the distance or sell on the secondary market. Anyone who feels they need a cancel button, should take a little more time to consider what they are committing to before pressing that magic button.
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Post by Collateral Rep on Feb 9, 2017 8:09:12 GMT
Morning,
Just to let you know we haven't put a pre-funding option on renewals. We've added 5 renewals to the pipeline area this morning which will go live at 9am tomorrow morning with bid limits lasting for 3 hours.
We will look to identify renewals some how so you know which ones you can pre-fund.
Many thanks,
Gordon
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star dust
Member of DD Central
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Post by star dust on Feb 9, 2017 8:32:58 GMT
They've all got RENEWED in red writing underneath the pics, do they need anything else? Or was that the flourishing touch? I think I need the date in bold, I thought they were all going live today 'till I read your post. Pre-fund's are up to 66/63% so looks like it's working well, long may it continue, glad to hear you would consider a pre-fund cap. Well done for getting it away smoothly.
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Post by pedz14 on Feb 9, 2017 8:40:36 GMT
Hi Collateral RepWhen does interest start accruing for purchases made under the new system as I noticed that parts I purchased at 15:00 yesterday received no interest this morning. Would parts purchased at between 00:00 and 09:50 receive interest the same as the parts purchased at 10:00 today? In short can you confirm the following in bold Parts purchased yesterday 08/02 = interest starts accruing 09/02
Parts between 00:00 and 09:50 09/02 = interest starts accruing?
Parts after 10:00 09/02 = interest starts accruing 09/02
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star dust
Member of DD Central
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Post by star dust on Feb 9, 2017 8:50:24 GMT
pedz14, when you hit the pre-fund request button a pop-up confirmation screen appears with this text at the bottom "Interest on your investment will begin when this loan goes live." The 'price' of pre-fund is effectively one day's lost interest
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Post by Collateral Rep on Feb 9, 2017 8:50:58 GMT
Hi pedz14, Interest starts when the loan goes live (not pre-fund stage). Many thanks, Gordon
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Post by pedz14 on Feb 9, 2017 9:08:41 GMT
Thanks for the replies.
So If I understand it now if I had pre-funded this morning at 07:00 instead of yesterday I would have gained a few extra pennies but ran the risk of losing out on the loan.
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Post by Collateral Rep on Feb 9, 2017 9:11:07 GMT
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Post by polonius on Feb 9, 2017 9:32:55 GMT
Thanks for the replies. So If I understand it now if I had pre-funded this morning at 07:00 instead of yesterday I would have gained a few extra pennies but ran the risk of losing out on the loan. It's a maybe about those few extra pennies. It depends where your funds are coming from. If you are selling other Collateral parts it could be as much as 3p for £100 pre-fund. If the money is in your holding account there would be no extra pennies. If you are transferring money in from a savings account elsewhere it could be anything (though probably not much )
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Post by sannytwist on Feb 9, 2017 9:38:31 GMT
Nooooooooooooooooooo.................. 3 p ......... oh Noooooooooo
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