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Post by Ton ⓉⓞⓃ on Oct 8, 2015 17:56:03 GMT
It's been suggested that THIS Thread be used for LC staff only, new loans etc. and that the discussion of the loans be on a separate thread or threads. I've just started this thread here for that. Hope that helps to keep things organized and clear. So if anyone other than LC staff post on this thread it will probably be moved to the discussion thread. Please report any posts that do need to be moved. Thanks
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Post by Ton ⓉⓞⓃ on Oct 8, 2015 17:53:28 GMT
You can discuss new loan here or you can start your own thread(s), hope this organizes things better.
The "New Loans on LendingCrowd-STAFF ONLY" thread is now for LC staff only.
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Post by Ton ⓉⓞⓃ on Oct 5, 2015 19:42:11 GMT
Is it only me that finds these tiny discounts quite ridiculous? No shop would.... <snip> I see some of this as practise for when it really matters, some people are finding out how the system works and what size discount is needed in different situations. I'm vaguely seeing how long it takes for things to sell, but it's about the same as it was under the previous discount system. Which is surprising as there are a lot more investors now, I guess they might be other using the other AC a/c's or are zombies or Intermediaries. I think it also gives an insight into how people think and act (or over react). When I picked up some Yorkshire Leisure @5% Discount it made wonder what the seller knew that I didn't, it turned out as: they probably knew nothing as some other parts went for a similar discount.
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Post by Ton ⓉⓞⓃ on Oct 5, 2015 13:06:28 GMT
Exactly ilmoroSo registerme if you are copying/pasting use only BBcode but NOT Preview as Preview will loose any links and mess with the formating. The Preview/BBcode button is at the bottom of the page when you are composing a new post. Most posts are written using Preview but sometimes you can't get the cursor where you want it to be, but if you quickly flick to BBcode it will let you. This happens when you are composing an answer immediately below the quote and then decide to delete/backspace-delete what you've written to put it another way; only to find the cursor is now in the quote itself and won't come out. So here you flick into BBcode put the cursor where you want and then switch back to Preview.
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Post by Ton ⓉⓞⓃ on Oct 5, 2015 12:09:57 GMT
Leeds Commercial #45 3.5% discount. Edit. I know you may need to unpause the loan because it was frozen. So I've unpaused it but it still isn't buying. So I deleted my original instruction, increased the amount slightly, about a minute later it completed the purchase. chris I'm wondering why the system wouldn't obey my original instruction which was for only £10, @-1%.
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Post by Ton ⓉⓞⓃ on Oct 4, 2015 9:45:27 GMT
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Post by Ton ⓉⓞⓃ on Sept 30, 2015 23:06:00 GMT
17k at 1% discount on 104 now. Considering that 45% of this loan still is available 14 months after drawdown, it would seem pretty clear that a discount would be required in order to sell any parts. I've not noticed but is there talk yet of a re-finance with only 10months to go there should be some prep, and will AC take up the option? Do we want them to? It was interesting a little while ago as AC were having a big chat with them and trying to get a better understanding of how the business worked.
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Post by Ton ⓉⓞⓃ on Sept 30, 2015 20:33:03 GMT
Ok, which is it an investment account for 40 people with 25k spare or holding account for all your customers? Also there are over 300 people with funds currently in the QAA. I don't mean this as a criticism but AC has something like 9,000 or 10,000 Lenders/Investors. Obviously not all of these would want or need this service for different reasons but still there's a large diff. between these two figures (300 & 9,000). This account is too successful.
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Post by Ton ⓉⓞⓃ on Sept 30, 2015 11:41:44 GMT
Just picked up some shrapnel for J***dent@l #47 (at 30th Sep 2015 at 11:53) with a 5% discount. I was happy to buy at par. Seeing the size of the discount made me check the covie tracker, nice. EDIT. Also mentioned Here
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Post by Ton ⓉⓞⓃ on Sept 30, 2015 11:34:48 GMT
There must be some reason we aren't seeing why the borrower at #205 is paying 50% over the valuation. Competitor? Hardly, given the nature of the business. Relocation costs? Sentimental attachment? If he's going to be looking for re-finance, experience would suggest this one will drag on for more than 6 months. I'm guessing he wants the property as it's next door to his current address, making expansion easier. I could be wrong.
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Post by Ton ⓉⓞⓃ on Sept 29, 2015 19:57:45 GMT
I suspect chris has got his hands on a quantum computer. The system appears to have detected interference of the planck constant by a gravitational wave in Dorset. 29th Sep 2015 at 13:32 Sale of loan part 13417889 (new id 13426576) for 0.0000000000000000000300000000000000024000 GBP - fee 0 GBP, annualised rate 10, loan: Dorset Property Development Loan (120). Competition Time. Who has a smaller transaction than sqh? The Winner gets.... (You have to come up with a funny prize too.)
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Post by Ton ⓉⓞⓃ on Sept 29, 2015 19:39:14 GMT
I noticed in a couple of recent successful purchases at a discount that there appears to be a bug in the code handing it. Specifically, it looks like it attempted to use all available funds in the MLIA to purchase units in the loan (as my available funds were the limiting factor, rather than the amount on offer or my buying limit). A few minutes later, it found there were still some funds left (a couple of orders of magnitude less - about 2% of the amount purchased), and attempted again, and a few minutes later had a further attempt, until the residual error fell below the minimum representable amount to AC's 20 decimals. The residual amount in each case was about 98% of the original amount. It suggests that something was applying a 1% adjustment in the wrong direction. I'm not sure that this bug/feature is just limited to loans with a discount. I often put stuff up for sale and sometimes it goes cleanly, but sometimes it goes in a few waves, each being a couple of orders of magnitude less than the last as you observe. I regularly have pages of people buying less than £0.01 - well nobody in their right mind would want to buy that little (sell - yes please!) so in my mind there is some non-complete feature. Today I bought a small amount of the MTF is it #104? To get to a round figure only to find that it split my buy order in exact half making two purchases to get to my total requirement. I thought there might be two selling at a 1% discount but on reading this perhaps not.
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Post by Ton ⓉⓞⓃ on Sept 27, 2015 15:50:17 GMT
Regarding the trading of delinquent debt - I'm sure I heard at least one other platform saying they couldn't do this because it's a highly regulated activity. I think I've heard another platform saying it will be coming because the FCA (or possibly HMRC) will require it for ISAs. We shall see... The results of a recent consultation on this is saying no at the moment, there will be no requirement for an SM. I've emboldened the passage below.
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Post by Ton ⓉⓞⓃ on Sept 26, 2015 9:18:12 GMT
I've looked briefly at this platform, am I right in thinking there are fees and what are they, Anyone? Yes. 1% annual fees on the money that you have lent. I'm pretty sure it's 0.25% on sale through the SM as well. Sound familiar? In fact in many ways it feels like LC could fill an FC-shaped hole in terms of function in people's portfolio (SME loans, auction model etc). I think this post by blender sums it up perfectly. Thanks. The only difference being it's north of the border, I've not signed up but have they made a statement as to what they would do in the event of Scottish Independence?
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Post by Ton ⓉⓞⓃ on Sept 26, 2015 8:52:37 GMT
I'm treating Making money on the forum/Offering your details for a fee as a breach of forum rules, or requesting such.
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