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Post by geraldine1210 on Jun 11, 2016 15:39:11 GMT
Just checked and no email received yet.
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Post by geraldine1210 on Jun 11, 2016 15:25:32 GMT
Slightly lower for solid, steady, secure loans is fine. I hope they don't go the other way and decide to dabble in higher risk/reward loans.
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Post by geraldine1210 on Jun 11, 2016 14:19:36 GMT
A very interesting thread. For me, if is to attempt to increase the return on my investments. I have other money in iSA's etc. Have some, but less money in rate centre. I have a tiny amount left in funding circle, which will come out as it becomes available. I also enjoy the mental stimulation. Although not so stimulating when chasing a disappearing loan as you are asked to slowly prove you are not a robot.
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Post by geraldine1210 on Jun 6, 2016 23:00:36 GMT
Would love to know the logic of buying up the tiny amounts as they don't seem to be grouped for interest purposes. I'm sure I've missed something. Please don't anyone say 'yes you have', unless with explanation. :-) I thought cooling_dude had explained that one possible use of small parts is to preset the Google Captcha in preparation for making a subsequent larger purchase. In fuller detail: 1) Sell £0.01 of your loan 2) right click on the loan that is now for sale and select 'open in new tab' 3) repeat step 2 to create spare tabs to be used for subsequent purchases 4) optionally buy back your own loan part ready to use again next time 5) on one of the purchase tabs you have created, prime the Google Captcha, prefil in the maximum amount you want to buy and click on invest, then you just need to click OK when the loan is available, so you have a better chance of getting there first. A technique like this can be useful for amalgamating loan parts or transfering loans between accounts. Other reasons that I might buy small parts are because I don't always read the amount before I buy, or to clear up the list of available loans so that I can see when something more interesting is available. No doubt others have their own techniques, but this might give you an idea of the sort of thing that is probably happening. Thank you. :-)
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Post by geraldine1210 on Jun 6, 2016 10:31:51 GMT
It all seems to have settled. I want worried, just curious.
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Post by geraldine1210 on Jun 6, 2016 5:21:04 GMT
Some of the more sort after lots now seem to be moving. The old faithfuls like Symbio, Belrose, Stockpot hanging around at usual.
Edit -
Movement had started, with balance dropping to around 97K. Now back IP to around 114k
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Post by geraldine1210 on Jun 6, 2016 5:15:17 GMT
It might be a good time for a positive announcement about the defaulted loan, in order to restore confidence.
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Post by geraldine1210 on Jun 6, 2016 5:13:39 GMT
Sadly I suspect as the amount on sale grows, the more people will be desperate to sell.
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Post by geraldine1210 on Jun 6, 2016 4:36:40 GMT
Anyone thoughts as to why we suddenly have such a large secondary market?
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Post by geraldine1210 on Jun 6, 2016 4:33:54 GMT
yes Would love to know the logic of buying up the tiny amounts as they don't seem to be grouped for interest purposes. I'm sure I've missed something. Please don't anyone say 'yes you have', unless with explanation. :-)
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Post by geraldine1210 on Jun 5, 2016 11:02:52 GMT
I stand to be corrected, but I think you will find that they will only have been paid interest up to 30/4. The default took place in May, so no interest would have been paid at the end of May. Consider yourself corrected, I got interest up to date of Default Brian I stand corrected. That is good news.
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Post by geraldine1210 on Jun 5, 2016 9:32:33 GMT
Hi, are funds credited on a weekend or just Monday to Friday? I have some how managed to set up a standing order for a Sunday, I will change it but this one's already left my account Thank you Saturday Mornings as well, but not Sunday (it's done manually by one of the minions at SS). No need to change your standing order though; it just won't register on you SS account until Monday mornings. It does seem a bit archaic that money takes so long to show if deposited after 1700 Friday. I know they are not unique in this, but still tiresome.
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Post by geraldine1210 on Jun 5, 2016 9:28:59 GMT
I think the wording should be that interest will continue to accrue and will be paid if there are sufficient funds from sale after the default. Investors should be paid in this order: 1 Capital of investors up to point of default. 2,Interest to point of default. 3 Interest after default for those who held prior to default. 4 Capital for those purchasing after default. 5 Interest accrued after default for those who purchased after default. I would use the provision fund to top up to 100% for number 1 and possibly to 75% for number 2. If the provision fund has to come into play, in my opinion payouts should not be paid for 3,4 and 5. The PF simply must be 2% of existing Unpaid loans AND must keep growing and not be depleted each time a loan is successfully paid back. I thought No2 had already been taken care of with investors already having received their interest up to point of default? I stand to be corrected, but I think you will find that they will only have been paid interest up to 30/4. The default took place in May, so no interest would have been paid at the end of May.
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Post by geraldine1210 on Jun 5, 2016 1:23:34 GMT
Well what interests me is that on the big red default box against the loan s s have written that it will continue to accrue interest which will be paid at the end of the process. If they are not certain they are going to be able to pay interest why would they put that up. I guess the reason a few people are still buying into the loan is because they can see the statement that it will accrue interest. I wonder if people who are investing in it now having read that could claim there had been some sort of mis-selling because it was stated in writing that interest would continue to accrue and be paid at the end of the recovery process. Probably not because of all the platform wide terms and conditions but it still seems a bit strange to me when they could have just put a red box up with the simple wording that the loan was in default. It seems to create a higher obligation and expectation when you have specifically put that it will continue to accrue interest. That's a good point. The statement in the big red box does suggest that weather or not the whole loan is recovered by the sale of the security, that the interest will be paid. Either SS have worded it badly, or they fully intend on using the PF to cover both a shortfall and the interest. I think the wording should be that interest will continue to accrue and will be paid if there are sufficient funds from sale after the default. Investors should be paid in this order: 1 Capital of investors up to point of default. 2,Interest to point of default. 3 Interest after default for those who held prior to default. 4 Capital for those purchasing after default. 5 Interest accrued after default for those who purchased after default. I would use the provision fund to top up to 100% for number 1 and possibly to 75% for number 2. If the provision fund has to come into play, in my opinion payouts should not be paid for 3,4 and 5. The PF simply must be 2% of existing Unpaid loans AND must keep growing and not be depleted each time a loan is successfully paid back.
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Post by geraldine1210 on Jun 5, 2016 1:08:26 GMT
So after 62 votes 79% think there will be a 100% return of capital, one way or another. This at least explains why so much has been bought on the SM after it went into default. Let's all hope that the optimists are right. Wow, I had not realised they were withdrawing the 2% of the loan each time it was paid in full. That is folly. The money should be deposited and ring fenced and then left there until needed.
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