SteveT
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Post by SteveT on Dec 7, 2015 13:26:55 GMT
fundingsecure, why was there no bid limit set for this renewal and what are you doing to sort out your website traffic problems? My feeling this is a consequence of the way the SM has been set up, turning FS into a "flipper's paradise" as they buy heavy and then offer at a premium on the SM. I really hope FS think again about this, especially given the highly dubious tax implications. I have to wonder whether an accountant might even feel obliged to report it to HMRC as a potential tax evasion scheme (ie. selling FS loan parts as they approach 5 months in order to duck the income tax liability).
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ablender
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Post by ablender on Dec 7, 2015 13:27:32 GMT
Pepperpot: "It was at £460k (ish) when I first saw it. Some larger bids of £20 - £30k gobbled it up pretty quick after I'd increased my original crumb to a slice."
Will they be trying to sell those loan parts when it gets close to 5 months so that someone else pays their tax?
Crossed with stevet.
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oldgrumpy
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Post by oldgrumpy on Dec 7, 2015 13:36:45 GMT
"...gobbled it up pretty quick after I'd increased my original crumb to a slice...."
Talking of crumbs, I got zilch ..... mind you I was distracted by a freshly baked loaf's crust and some extra mature Stilton, so I only remembered at 13:10 !! I was already poised on the site, too! 
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SteveT
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Post by SteveT on Dec 7, 2015 13:48:29 GMT
The only saving grace is that they've returned my money admirably quickly!
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madpierre
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Post by madpierre on Dec 7, 2015 14:10:36 GMT
fundingsecure , why was there no bid limit set for this renewal and what are you doing to sort out your website traffic problems? My feeling this is a consequence of the way the SM has been set up, turning FS into a "flipper's paradise" as they buy heavy and then offer at a premium on the SM.I really hope FS think again about this, especially given the highly dubious tax implications. I have to wonder whether an accountant might even feel obliged to report it to HMRC as a potential tax evasion scheme (ie. selling FS loan parts as they approach 5 months in order to duck the income tax liability). Damn I forgot about that. I topped up with a few measly hundred when I could have bought the lot and sold it at a profit instantly. Against my every principle but if you can't beat 'em 
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mikes1531
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Post by mikes1531 on Dec 7, 2015 14:12:55 GMT
Did anyone spot how much (if any) of the Powerboat was available on renewal? By the time I got the increasingly flakey website to refresh, it was already showing 100% filled. - Me too. I transferred my funds and bid at dead on 1pm and it was 100% subscribed. This really annoys me. Thank goodness for sites like Saving Stream and pre-funding! Me three. I had funds ready to invest at 1300. When the loan appeared it was 81% taken -- presumably renewals -- so I went to the loan's page. It was then 82% taken, so still £100k available. I selected my amount and clicked on the confirmation box. The website seemed to be responding normally. But the response I got was that I had asked for more than was available -- despite me having asked for a relatively small amount. By then it was too late to ask for a smaller amount and get anything, so I ended up with nothing. It was a most frustrating and disappointing experience. IMHO, fundingsecure made a big mistake in failing to set any maximum investment limit, especially as this was a renewal. And I'd have to agree that the new SM with the ability to sell at a premium contributed to the scrum. I expect to see lots of parts of this loan appear on the SM at premium prices just as soon as it is activated.
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duck
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Post by duck on Dec 7, 2015 14:33:57 GMT
Ditto all the above .... excluding the bread and stilton.
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duck
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Post by duck on Dec 7, 2015 15:03:25 GMT
Hmm, F5, white (blank) screen, wait, refreshes, all gone ....
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SteveT
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Post by SteveT on Dec 7, 2015 15:06:16 GMT
... I expect to see lots of parts of this loan appear on the SM at premium prices just as soon as it is activated.First (small) Powerboat Renewal part already on the SM at 1% premium! Must be a record. [Sold almost instantly]
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ablender
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Post by ablender on Dec 7, 2015 15:06:28 GMT
Shouldn't be a new loan a 3 o'clock?
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SteveT
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Post by SteveT on Dec 7, 2015 15:07:15 GMT
Shouldn't be a new loan a 3 o'clock? You missed it
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oldgrumpy
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Post by oldgrumpy on Dec 7, 2015 15:08:08 GMT
Shouldn't be a new loan a 3 o'clock? I was distracted again (cooking) and got on at 15:04 - presume it's all gone. edit: presumably FS are happy with the simplicity of having no limits on these larger loans still DESPITE the now open invitation to invest tens of thousands of £ and sell immediately at a 1-2% markup. Very Frustrating-Consequences-esque!! Different game now, FS (as if you didn't know!). Bid limits are essential for ALL loans, or a lot of people will be saying goodbye.
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ablender
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Post by ablender on Dec 7, 2015 15:09:34 GMT
Shouldn't be a new loan a 3 o'clock? You missed it Oh, was sipping some irish cream. 
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duck
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Post by duck on Dec 7, 2015 15:12:49 GMT
yes all went as my screen was refreshing  |
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madpierre
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Post by madpierre on Dec 7, 2015 15:16:22 GMT
I grabbed the lot and it is available on the SM at a mere 4.99% premium (as I'm not wholly avaricious)
Actually I got nowt 
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