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Post by phlitb on Apr 17, 2014 19:24:39 GMT
This must represent my favourite FC glitch so far. An hour or two ago, still no sign of my 5595s on the SM so I delisted a couple of parts from one of my accounts and immediately relisted them. Hey presto, they appeared on the SM - just my 2 parts, and since they obviously represented such good value even at a 3% markup - no competing parts of course - they were snapped up in a jiffy. And then suddenly all the 5595s for sale on the SM reappeared! I then repeated the exercise with some of the other invisible SM parts, de/relisting them and again only mine are/were available apparently until a sale occurs, at which point all parts for sale become live again.
I write software for a living and can only wonder what an unbelievable mess their code must be in for this sort of behaviour to occur. It can be fun, and occasionally lucrative, to play on FC but I would never in a million years commit a serious amount of money to that platform.
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Post by phlitb on Apr 17, 2014 12:51:06 GMT
And it's out, with 2.5% paid. If it's a mistake, serves them right for not reading this forum.
I can afford an Easter egg now.
If you view the comments for the loan you'll see the explanation for the "bonus" 0.5% in addition to the quoted 2% cashback offer. To be fair to FC, they admitted a mistake (which none of us here had spotted!) and made good on it.
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Post by phlitb on Apr 17, 2014 11:33:07 GMT
This loan has dropped off the SM, although I have parts still showing for sale in more than one account. No comments, first repayment not due until May. FC glitch / cock-up or should I be concerned?
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Post by phlitb on Apr 16, 2014 19:00:07 GMT
No clues from the most recent FC email I received. So we don't all have to waste time looking at the blog:
The new rates will take effect on Thursday 1st May. The new minimum bid rates for loan requests listed after 9am on 1st May are as follows:
A+: 6% (no change)
A: 8% (+0.1%)
B: 9% (+ 0.1%)
C: 10% (+ 0.1%)
C-: 11.7% (+ 0.1%)
But frankly anyone who reads this forum and bids anywhere near these rates needs to seriously rethink their investment strategy.
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Post by phlitb on Feb 22, 2014 14:24:12 GMT
As well as the usual suspects, the first time I've ever seen any Auction 21 (T*Y Ltd) come up on the aftermarket. About 1K left at the time of writing...
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Post by phlitb on Feb 16, 2014 17:25:32 GMT
Wrong game I'm afraid. But have a banana in compensation. The English opening seems entirely appropriate in the circumstances to me, although of course it's 1. c4 in modern parlance. But if the moderators are going to be that fussy, how about an early Bf4 London System instead?
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Post by phlitb on Feb 14, 2014 17:22:33 GMT
Very well done to FC. They realized the implications of their mistake and corrected it. I was displeased to find I had a small part of this. They have done the right thing (Quickly) and have no doubt learned from the experience. Yes, kudos to FC, certainly a satisfactory solution. But do they really have no means of emailing affected lenders to explain the situation?
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Post by phlitb on Feb 14, 2014 16:06:04 GMT
4573 (along with its accrued interest) has now been removed from my account, no indication yet whether this is yet another cock-up or a prelude to a refund. Wouldn't it be nice if FC communicated with its investors...
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Post by phlitb on Feb 13, 2014 22:28:56 GMT
Not entirely sure how this works, but for what it's worth I like to place my bishops on
Finchley Central
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Post by phlitb on Feb 13, 2014 21:45:23 GMT
I will quote and be damned, from the Q&A for 4573:
Funding Circle (Staff) Q. 10 Jan 2014 18:48 - Please note: this company has an existing Funding Circle loan. This loan will be used, in part, to clear the outstanding balance on the first loan. FC Awaiting Answer ...
Whichever way you cut it - misrepresentation, mistake or whatever, FC has a duty to its investors to rectify this situation. Personally I think 4573 should be annulled, everyone refunded and the loan re-listed with the corrected rating, and with the actual borrower intentions made clear. It would be business suicide for FC to force investors to take a hit on this.
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Post by phlitb on Feb 13, 2014 19:32:52 GMT
This is FC riding roughshod over investors at their worst. I'm left with an investment I would never have made at a rate at which won't sell for par. And even if it did, how can it be right that I should lose out, the borrower gets off scot-free and FC profit from this situation? I've also written to FC requesting a full refund.
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Post by phlitb on Feb 11, 2014 13:41:06 GMT
But good news, Cap**** Expend**** For Exp****** 1373 has just cleared 3 months arrears in one fell swoop and is up to date, and even better an autobidder has just bought the lot. Even better, I sold mine with a mark-up!
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Post by phlitb on Feb 6, 2014 20:14:57 GMT
Looking on the bright side, FC have fixed the "% of your current lending" error in my final (hopefully) default mail of the day.
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Post by phlitb on Feb 6, 2014 18:14:10 GMT
An unwelcome hat-trick for me today, this one plus:
1322 C*** ** king 1360 N*** y**r e*****ished c****n*
Can anyone top that?
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Post by phlitb on Feb 4, 2014 11:47:10 GMT
It was a 40K B. I don't touch C/C- - too risky
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