|
|
Post by khampson on Sept 23, 2017 6:28:29 GMT
Hi since the new way of investigating went live I have waited a few days to see the general comments. Can anyone answer these 2 questions for me.
1. Has and one tested the liquidity and sold any loans this week? What was your experience like.
2. Is there any cash drag with funds waiting to be invested.?
Thanks in advance
|
|
|
|
Post by grahamreeds on Sept 23, 2017 7:41:09 GMT
SM sales are happening - I have bought a few.
Cash drag is happening but FC are throttling the loans. I have £79 sat. New loans are in £100 blocks. Too much for my liking - one default is nearly an entire months interest.
I have complained viciously about this to FC. It appears the only way to get diversity at a smaller amount is to have multiple accounts.
|
|
ashtondav
Member of DD Central
Posts: 1,814 
Likes: 1,092
|
Post by ashtondav on Sept 23, 2017 9:05:34 GMT
Sorry, can you clarify please. Does this mean that to achieve the declared 0.5% diversification I need to make a minimum investment of £20,000?
I assumed if I invested £5,000 I would accumulate loans at £25 or less.
|
|
|
|
Post by grahamreeds on Sept 23, 2017 9:22:46 GMT
I have only purchased new loan parts in £100 blocks. Nothing anything smaller. Also I had £78 in my account for over a day without purchasing anything.
I would like to purchase new blocks in a lot smaller denominations.
Blocks, I assume, are purchased in denominations that are 0.5%. Most forum users are power users and high investers. There have been users who got multiple allocation of loans which give away how much people have invested.
So, to answer your question, I believe that is the case and why I want to create multiple smaller accounts so I can get smaller loan parts and better diversity.
One default should not cost an entire months interest. So far bad debt has cost me £200. If it was in hundred blocks then that would be nearer £700 and almost my entire interest earned (I started small and have grown rapidly to nearly 25k).
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Sept 23, 2017 9:43:02 GMT
Sorry, can you clarify please. Does this mean that to achieve the declared 0.5% diversification I need to make a minimum investment of £20,000? I assumed if I invested £5,000 I would accumulate loans at £25 or less. The £4,000 I stuck in as a test initially was allocated in £20 chunks (0.5%). When I happened to receive a recovery payment on a defaulted loan from a couple of years ago, the system switched to buying me £21 parts instead.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Sept 23, 2017 9:59:04 GMT
I put 1k in on Sunday evening, 42 x loans at £20 have been purchased so far, 2 of which are from the SM
|
|
al
Posts: 49
Likes: 13
|
Post by al on Sept 23, 2017 10:04:37 GMT
SM sales are happening - I have bought a few. Cash drag is happening but FC are throttling the loans. I have £79 sat. New loans are in £100 blocks. Too much for my liking - one default is nearly an entire months interest. I have complained viciously about this to FC. It appears the only way to get diversity at a smaller amount is to have multiple accounts. Aren't they limiting to 0.5%? I thought Autobid was supposed to autodiversify - in fact to twice as much as the least one could manually pick, assuming £4000 or greater pot, since you used to be able to choose 1%. Assuming they are limiting, and you're diversified enough to hit average bad debt, wouldn't twice as many parts just give you twice as many defaults?
|
|
|
|
Post by mikeyp on Sept 23, 2017 10:08:45 GMT
My portfolio is just over £45k. Where the new system has bought for me on the PM, it has bought 2 x £100 and 1 x £26, 0.5% rounded up. By asking the sell process to raise £26 at a time, I've sold all the £26 loans, reducing my exposure to each loan to 0.44%. By band, I've been given 2 x A+, 1 x A, 2 x B, 1 x C and 1 x D which is rather more exciting than I would have chosen myself.
|
|
|
|
Post by wyreflyer on Sept 23, 2017 10:40:01 GMT
I also stuck £1k in to test on Monday morning, now got 47x£20 with £60 sat waiting.
8 A+, 15 A, 12B, 5C, 3D and 4E.
|
|
|
|
Post by grahamreeds on Sept 23, 2017 11:04:55 GMT
My portfolio is just over £45k. Where the new system has bought for me on the PM, it has bought 2 x £100 and 1 x £26, 0.5% rounded up. By asking the sell process to raise £26 at a time, I've sold all the £26 loans, reducing my exposure to each loan to 0.44%. By band, I've been given 2 x A+, 1 x A, 2 x B, 1 x C and 1 x D which is rather more exciting than I would have chosen myself. Interesting. As 0.5 rounded up is £115 I don't yet make the extra cut. I need to get over that hump. Not right now though.
|
|
|
|
Post by mikeyp on Sept 29, 2017 9:45:06 GMT
By asking the sell process to raise £26 at a time, I've sold all the £26 loans, reducing my exposure to each loan to 0.44%. Hmmm. It looks like that route to tinkering with the diversity you're given has been stopped. Now, if I ask to sell £29 or less, it suggests a £20 loan; £30 or more, it suggests £40 (possibly 2 x £20).
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 29, 2017 10:57:44 GMT
Do you get to see which loan parts it puts up for sale? If so is that before you confirm sale or some time after the loans are put up for sale?
|
|
|
|
Post by mikeyp on Sept 29, 2017 11:09:26 GMT
You're just told the amounts it is proposing to put up for sale in both principal and interest before you confirm. When I had just a few of the new odd amounts, it was fairly clear which ones they were. As I have lots of loans at £20 and £40, I have no idea though, being those round sums, they are interest only property loans.
|
|
