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Post by spareafewcoppersguv on Mar 17, 2017 7:58:53 GMT
I believe there should be a reasonable amount of notice so that those who get the email later than others are not unfairly disadvantaged. If the purpose of pre-funding is to allow people who cannot make the usual 10am slot to get a bite of the loan, then clearly a prefund that does not last any longer than a normal go-live serves no purpose. Having loans appear in the pipeline for immediate funding, and with time pressure to act immediately, gives potential investors no time to evaluate the investment opportunity. I think 25 is a reasonable minimum as with FS pawn so whatever time it appears only 100 FFF investors can get into a 2.5k loan and with anonymous borrowers only cursory DD would be required to check a watch or car retail price for that amount. Perhaps you you should ask Gordon to have a minimum time after email/before putting new loans on the website so everyone had a fair chance to get their 1.50 interest. Re minimum value. You're never going to keep everyone happy. A £25 minimum seems pragmatic. For me below £25 and they won't really be worth bothering with.....
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dawn
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Post by dawn on Mar 17, 2017 8:46:33 GMT
I think Collateral got it right yesterday regarding limits, but small loans will fill quickly whatever time they launch and with however much notice. There are few platforms currently offering loans as small as these and I would like Collateral to continue to offer them provided they are of good enough quality and are financially viable for Collateral. A suggestion for loans below a certain value might be to launch pre-funding at a different time of day, say 4pm. The 10am launch at the moment ties in with the normal bidding launch time and therefore favours the same people. Pre-funding was supposed to help people who can't be around at 10am therefore having pre-funding go live at a different time may help. So I suggest to Collateral that you keep the same limits but move the pre-funding bidding launch time (maybe for all pre-funding?) to maybe 4pm. However whatever they do it still won't suit everyone.
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star dust
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Post by star dust on Mar 17, 2017 9:42:00 GMT
So I suggest to Collateral that you keep the same limits but move the pre-funding bidding launch time (maybe for all pre-funding?) to maybe 4pm. However whatever they do it still won't suit everyone. Good idea, but a certain other platform launches at 4p.m. and occasionally sells out in minutes too, I don't think I could take the strain of trying to be FFF on two sites at once . How about around midday UK time, or another (non-early morning) time of Collateral's choosing?
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elliotn
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Post by elliotn on Mar 17, 2017 10:18:37 GMT
Only got 40 away today so am left with 100s on my account after liquidating half a grand yesterday following their quickly announced loan batch launch. May I congratulate C on their successful loan launches, the popularity of which is plain for all to see and I look forward to investing in their upcoming loans .
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dermot
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Post by dermot on Mar 17, 2017 10:31:13 GMT
Morning, As we have grown the smaller loans are becoming a bit of an issue. We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20. If we had given longer notice, it would have still filled with some investors missing out. We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here. Many thanks, Gordon I'm happy enough with the smaller loans - but I think £20 is about the smallest maximum bid that many people would be interested in. Staggering them by 5 mins is important - this applies to the renewals too, the site froze up at 9am for me, in spite of my 200Mbit connection. It is far more frustrating to be staring at an unresponsive screen and lose a chance at *all* loans than it is to be beaten to the post by someone with faster fingers (or a faster connection...) on each loan.
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elliotn
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Post by elliotn on Mar 17, 2017 10:37:57 GMT
It has been noted that merely moving 500+ investors each 5 mins merely eeks out the FFF/server strain over a longer period and crippling loans individually rather than allowing some a fighting chance of getting into an individual loan on a multiple launch.
Yesterday the prefunds were staggered seemingly randomly over nearly half hour and the server seemed little better for each loan.
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dawn
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Post by dawn on Mar 17, 2017 10:50:18 GMT
So I suggest to Collateral that you keep the same limits but move the pre-funding bidding launch time (maybe for all pre-funding?) to maybe 4pm. However whatever they do it still won't suit everyone. Good idea, but a certain other platform launches at 4p.m. and occasionally sells out in minutes too, I don't think I could take the strain of trying to be FFF on two sites at once . How about around midday UK time, or another (non-early morning) time of Collateral's choosing? Maybe 3pm or 5pm then - I was thinking about trying to get it to last until most people had got home from work as these seem to be people most disadvantaged by the 10am slot. Yesterday it did take quite a few hours for the very small loans to fill via pre-funding. A 5pm launch should give people who work a better chance.
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elliotn
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Post by elliotn on Mar 17, 2017 10:59:33 GMT
5pm may not be user friendly for a platform who may expect deposits for some hours after a prefund.
Current times with sufficient notice.
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nush
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Post by nush on Mar 17, 2017 11:15:07 GMT
i would suggest that small loans just go live whenever they are ready to go live without any notice but with maximum bid limits of £25. carry on as you are with the bigger loans. either that or lower the prefund limit down to £5 and those that want it will still bid, im sure the loans will fill regardless of what option collateral go for
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littonowl
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Post by littonowl on Mar 17, 2017 11:58:59 GMT
Morning, As we have grown the smaller loans are becoming a bit of an issue. We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20. If we had given longer notice, it would have still filled with some investors missing out. We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here. Many thanks, Gordon I can see how as Coll develops, the smaller loans would become less significant, but I'd hope they'd still have a place, as they can help in diversification of borrowers and not so long ago this was Coll's bread and butter. Perhaps you could just launch them as soon as they become available, with an email notice and £20 bid limit and a first come, first served basis. I'd rather have this, than lose this niche altogether...
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hantsowl
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Post by hantsowl on Mar 17, 2017 12:16:53 GMT
Morning, As we have grown the smaller loans are becoming a bit of an issue. We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20. If we had given longer notice, it would have still filled with some investors missing out. We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here. Many thanks, Gordon I can see how as Coll develops, the smaller loans would become less significant, but I'd hope they'd still have a place, as they can help in diversification of borrowers and not so long ago this was Coll's bread and butter. Perhaps you could just launch them as soon as they become available, with an email notice and £20 bid limit and a first come, first served basis. I'd rather have this, than lose this niche altogether... Maybe as the platform develops this may become an issue. But for now, IT WORKS!! I managed a slice of all the pre-funds and renewals, although I was too slow at the 10:00 FFF. Compare that with FS and MT. They have no pre-fund facilities and to get ANY small morsel of loans of this size you need SuperFFF abilities. As long as there is a set time for pre-funding and sufficient notice then everyone should get a chance. Yes, a couple of the small items were fully funded through the pre-fund, but only after they had been open for a few hours!? That is much better than the FFF frenzy at 10:00 with availability lasting less than 1 minute.
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n
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Yet another Nick
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Post by n on Mar 17, 2017 12:26:11 GMT
I can see how as Coll develops, the smaller loans would become less significant, but I'd hope they'd still have a place, as they can help in diversification of borrowers and not so long ago this was Coll's bread and butter. Perhaps you could just launch them as soon as they become available, with an email notice and £20 bid limit and a first come, first served basis. I'd rather have this, than lose this niche altogether... Me too. Me three.
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elliotn
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Post by elliotn on Mar 17, 2017 12:27:35 GMT
Morning, As we have grown the smaller loans are becoming a bit of an issue. We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20. If we had given longer notice, it would have still filled with some investors missing out. We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here. Many thanks, Gordon I can see how as Coll develops, the smaller loans would become less significant, but I'd hope they'd still have a place, as they can help in diversification of borrowers and not so long ago this was Coll's bread and butter. Perhaps you could just launch them as soon as they become available, with an email notice and £20 bid limit and a first come, first served basis. I'd rather have this, than lose this niche altogether... For me four.
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Post by Deleted on Mar 17, 2017 13:48:03 GMT
Not 4pm MT own that Nor 11am FS own that
If 10am is difficult what about 2:27pm no one owns that.
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treeman
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Post by treeman on Mar 17, 2017 13:48:27 GMT
Morning, As we have grown the smaller loans are becoming a bit of an issue. We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20. If we had given longer notice, it would have still filled with some investors missing out. We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here. Many thanks, Gordon I can see how as Coll develops, the smaller loans would become less significant, but I'd hope they'd still have a place, as they can help in diversification of borrowers and not so long ago this was Coll's bread and butter. Perhaps you could just launch them as soon as they become available, with an email notice and £20 bid limit and a first come, first served basis. I'd rather have this, than lose this niche altogether... And me ......... As long as the smaller loans make sense for you Collateral Rep, keep them coming with the little bid limits - £20 is probably as low as it's worth going. You'll never please everyone, of course. With the increasing popularity of Collateral (and other platforms), along with the higher profile of P2P generally that IFISAs/dire cash deposit rates etc bring - the supply and demand balance is likely to be difficult to meet for some time. We all just need to get used to the idea that we won't be able to grab big slices of everything we fancy all the time .......
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