Liz
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Post by Liz on Oct 10, 2017 10:18:51 GMT
How the hell did someone get £125K of this £200K loan? fundingsecure you are annoying a lot of people not applying bid limits, at least limit to £2k or £5k. So including the £35k another bidder got, 2 bidders got 80% of this loan, how is that fair fundingsecure I also don't get why fundinsecure is paying 15% and 17% to those bidders when they could get away with paying 10% and this would fill several times over! Are these employees, shareholders, relations etc? |
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locutus
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Post by locutus on Oct 10, 2017 10:22:44 GMT
How the hell did someone get £125K of this £200K loan? fundingsecure you are annoying a lot of people not applying bid limits, at least limit to £2k or £5k. So including the £35k another bidder got, 2 bidders got 80% of this loan, how is that fair fundingsecure I also don't get why fundinsecure is paying 15% and 17% to those bidders when they could get away with paying 10% and this would fill several times over! Are these employees, shareholders, relations etc? They were rollovers from the original loan. When the loan was originally launched, it would not have filled without large investors like this as it wasn't very popular at the time. It only seems fair that they should be able to retain their investment as part of a rollover having taken the original risk when no one else wanted to. BTW, it is not me! 
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bg
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Post by bg on Oct 10, 2017 10:27:08 GMT
How the hell did someone get £125K of this £200K loan? fundingsecure you are annoying a lot of people not applying bid limits, at least limit to £2k or £5k. So including the £35k another bidder got, 2 bidders got 80% of this loan, how is that fair fundingsecure I also don't get why fundinsecure is paying 15% and 17% to those bidders when they could get away with paying 10% and this would fill several times over! Are these employees, shareholders, relations etc? I think it is fair. For me unfairness is someone being given an advantage over other investors that they don't get (i.e. being allowed to bid a minute before the auction opens). As far as I can see it's the same for everyone here and it just depends if your bid gets through before the loan fails. I would much rather have no restrictions and have the chance of getting decent chunk than messing around with a small clip in loads of loans. If someone has millions to invest then £2k just doesn't cut it - I appreciate that others won't feel this way but it's not unfair if you miss out on the winning lottery ticket in a random draw. For the record, I missed out on this loan despite trying to bid at 11am but I accept that it's a supply/demand issue and just hope I get in on the next one.
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Liz
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Post by Liz on Oct 10, 2017 10:33:18 GMT
How the hell did someone get £125K of this £200K loan? fundingsecure you are annoying a lot of people not applying bid limits, at least limit to £2k or £5k. So including the £35k another bidder got, 2 bidders got 80% of this loan, how is that fair fundingsecure I also don't get why fundinsecure is paying 15% and 17% to those bidders when they could get away with paying 10% and this would fill several times over! Are these employees, shareholders, relations etc? I think it is fair. For me unfairness is someone being given an advantage over other investors that they don't get (i.e. being allowed to bid a minute before the auction opens). As far as I can see it's the same for everyone here and it just depends if your bid gets through before the loan fails. I would much rather have no restrictions and have the chance of getting decent chunk than messing around with a small clip in loads of loans. If someone has millions to invest then £2k just doesn't cut it - I appreciate that others won't feel this way but it's not unfair if you miss out on the winning lottery ticket in a random draw. For the record, I missed out on this loan despite trying to bid at 11am but I accept that it's a supply/demand issue and just hope I get in on the next one. We know that some bidders are given an unfair advantage and can bid before the rest of us, we have seen it and funingsecure hasn't denied it. In this case, fair enough they are rollovers, but why didn't funding secure tell us this loan was already 95%+ filled and we wouldn't waste of time. And they could have put a bi limit of £100 to save disappointment.
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bg
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Post by bg on Oct 10, 2017 10:38:02 GMT
I think it is fair. For me unfairness is someone being given an advantage over other investors that they don't get (i.e. being allowed to bid a minute before the auction opens). As far as I can see it's the same for everyone here and it just depends if your bid gets through before the loan fails. I would much rather have no restrictions and have the chance of getting decent chunk than messing around with a small clip in loads of loans. If someone has millions to invest then £2k just doesn't cut it - I appreciate that others won't feel this way but it's not unfair if you miss out on the winning lottery ticket in a random draw. For the record, I missed out on this loan despite trying to bid at 11am but I accept that it's a supply/demand issue and just hope I get in on the next one. We know that some bidders are given an unfair advantage and can bid before the rest of us, we have seen it and funingsecure hasn't denied it. In this case, fair enough they are rollovers, but why didn't funding secure tell us this loan was already 95%+ filled and we wouldn't waste of time. I've not seen any evidence of that, I can't say that is a fact. I have been first bidder on some 'popular' loans and I haven't any advantage. Agree on the waste of time element. It would be useful to know what level of rollovers they have but I guess FS would argue that they don't know this until the auction actually goes live (as people can change their setting up to the auction time). A compromise could be for them to say that the current level of rollovers in the loan are £X in their loan coming soon email.
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r00lish67
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Post by r00lish67 on Oct 10, 2017 10:43:46 GMT
We know that some bidders are given an unfair advantage and can bid before the rest of us, we have seen it and funingsecure hasn't denied it. In this case, fair enough they are rollovers, but why didn't funding secure tell us this loan was already 95%+ filled and we wouldn't waste of time. I've not seen any evidence of that, I can't say that is a fact. I have been first bidder on some 'popular' loans and I haven't any advantage. Agree on the waste of time element. It would be useful to know what level of rollovers they have but I guess FS would argue that they don't know this until the auction actually goes live (as people can change their setting up to the auction time). A compromise could be for them to say that the current level of rollovers in the loan are £X in their loan coming soon email. I think we're pretty sure there is preferential treatment. In some cases we've seen 1 id manage to apparently get 2 bids in before anyone else gets in for the first time. It's FS's prerogative to allow this, and if I was FS I'd probably be looking after my BH's too. It would be good to have a bid limit for these, yes. When i refreshed it was already at 94%, so there was probably only £12-£15k left from the off and god knows how many £k on the platform waiting. The cynic in me wonders if FS like large numbers of people depositing, as not all of it makes its way safely back to the bank's coffers following people's initial disappointment.
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mullet
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Post by mullet on Oct 10, 2017 11:56:09 GMT
Reconciling the investments between the original and renewal, the j***y's investment for 10k looks to be the 'new' money that swallowed up most of what was available on the renewal.
He/she is a name that comes up regularly as clearly getting preferred treatment.
Given most of this loan was renewed and there were only a few scraps available for everyone else, maybe they could have let the general public fight it out for this one.
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syalith
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Post by syalith on Oct 10, 2017 12:23:47 GMT
Nobody is getting preferential treatment. They are just faster than you, or have a faster connection than you. Multiple times now I have been the first one to invest in these fastest finger first loans from just my home connection and clicking as quickly as I can, even one time managing to do it from my laptop at the roadside in Germany.
This was a renewal of a low LTV loan, obviously there was not going to be much available, and obviously there was going to be lots of people interested in it. You didn't try hard enough and you missed out. Big deal, move on. Stop making a mountain out of a molehill.
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jj
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Jolly Jammy
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Post by jj on Oct 10, 2017 16:00:52 GMT
Reconciling the investments between the original and renewal, the j***y's investment for 10k looks to be the 'new' money that swallowed up most of what was available on the renewal. He/she is a name that comes up regularly as clearly getting preferred treatment. Given most of this loan was renewed and there were only a few scraps available for everyone else, maybe they could have let the general public fight it out for this one. Hmm.... I think finger pointing is not going to be enough for these kind of people. I suggest you find out who this jolly chappy is then torture him until he confesses to being one of the sixty then string him up for being so jammy. 
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mikes1531
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Post by mikes1531 on Oct 10, 2017 20:06:49 GMT
How the hell did someone get £125K of this £200K loan? So including the £35k another bidder got, 2 bidders got 80% of this loan... They were rollovers from the original loan. If these were rollovers, then I have to respect these investors right to do so. ( Liz : Might the £35k you mentioned be a typo, or are you assuming that j***y who put £10k into today's loan is also j****y?)
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Liz
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Post by Liz on Oct 10, 2017 20:57:07 GMT
"(Liz: Might the £35k you mentioned be a typo, or are you assuming that j***y who put £10k into today's loan is also j****y?)"
Oops, you are right they are different, although they could be the same person.
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rogerthat
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Post by rogerthat on Oct 10, 2017 21:15:44 GMT
How the hell did someone get £125K of this £200K loan? fundingsecure you are annoying a lot of people not applying bid limits, at least limit to £2k or £5k. So including the £35k another bidder got, 2 bidders got 80% of this loan, how is that fair fundingsecure I also don't get why fundinsecure is paying 15% and 17% to those bidders when they could get away with paying 10% and this would fill several times over! Are these employees, shareholders, relations etc? it was a rollover..I asked a question and got an answer..and my mouse slipped and cost me a second...no slice for me either
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mikes1531
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Post by mikes1531 on Oct 11, 2017 11:45:23 GMT
How the hell did someone get £125K of this £200K loan? it was a rollover..I asked a question and got an answer. OK. Thanks for the confirmation.
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Post by df on Oct 11, 2017 17:16:10 GMT
We know that some bidders are given an unfair advantage and can bid before the rest of us, we have seen it and funingsecure hasn't denied it. In this case, fair enough they are rollovers, but why didn't funding secure tell us this loan was already 95%+ filled and we wouldn't waste of time. I've not seen any evidence of that, I can't say that is a fact. I have been first bidder on some 'popular' loans and I haven't any advantage. Agree on the waste of time element. It would be useful to know what level of rollovers they have but I guess FS would argue that they don't know this until the auction actually goes live (as people can change their setting up to the auction time). A compromise could be for them to say that the current level of rollovers in the loan are £X in their loan coming soon email. COL handles it much better. You know the amount available on renewals 24hrs in advance and can make an informed decision whether to bother or not.
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mikes1531
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Post by mikes1531 on Oct 12, 2017 1:25:26 GMT
I had an investment in the "Liverpool Property" loan that was fairly large (nowhere near as much as £125k! - large for me anyway), and I remember my name falling off the list on the original loan after I opted to renew in the new one. It's something that doesn't seem to occur often - I just rechecked and I'm definitely not in the original loan list but was definitely an investor. : When you bring up the loan's page, and it doesn't show your ID among the investors, does it still show your investments at the top of the page? Or have those entries disappeared as well? As near as I can tell, the list of investments is dynamic. It isn't showing the people who invested in the loan at the time it was funded. It's showing the people invested in the loan at the time you're viewing the page. Examples: I bought a chunk of a loan at the beginning back in May, and then sold part of it on the SM earlier this month. If I look at the investment list for the loan now, my entry shows only the remaining part. For a loan where I've sold out completely via the SM, there's no entry at all for me now in the investments list. What I haven't worked out is what happens if I buy a part via my ISA. I've just checked the investment list of the loan I most recently bought for my ISA, and I don't see an entry corresponding to that purchase. Do those purchases not make it to the list at all? Do they appear on the list, but with a different UserID? I haven't a clue! I'll try to remember to check the list just after I make a purchase to see if I can spot a new entry. If I really wanted to be nerdy, I would capture the list immediately before and after the purchase and play spot the difference. If mine was the only purchase between those two snapshots, I ought to be able to see my purchase -- and see who I bought the part from. But it's probably not worth all the effort! 
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