ashtondav
Member of DD Central
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Post by ashtondav on Oct 12, 2017 10:04:29 GMT
...waiting for the screen to refresh at 11:00.
Back to sleep
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jaswells
Member of DD Central
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Post by jaswells on Oct 12, 2017 10:07:19 GMT
Yes, first time Ive tried this and well, what a deflating experience.
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Post by mrmister on Oct 12, 2017 10:09:03 GMT
I don't see why they can't just stagger the loans at 5 minute intervals so their servers aren't falling over.
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rogerthat
Member of DD Central
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Post by rogerthat on Oct 12, 2017 10:28:06 GMT
What I couldn't understand was they had no restriction on Wereham with a relatively low LTV and £35K requirement and St Annes with (very) roughly twice the loan amount and LTV and a £100 restriction.. leaving aside potential rollovers, where is the logic in all this ?
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Post by dan1 on Oct 12, 2017 10:53:17 GMT
What I couldn't understand was they had no restriction on Wereham with a relatively low LTV and £35K requirement and St Annes with (very) roughly twice the loan amount and LTV and a £100 restriction.. leaving aside potential rollovers, where is the logic in all this ? I think that's the point, rollovers don't appear to have any restrictions unless pawn (someone please correct me if I'm wrong).
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Liz
Member of DD Central
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Post by Liz on Oct 12, 2017 13:05:37 GMT
What I couldn't understand was they had no restriction on Wereham with a relatively low LTV and £35K requirement and St Annes with (very) roughly twice the loan amount and LTV and a £100 restriction.. leaving aside potential rollovers, where is the logic in all this ? I think that's the point, rollovers don't appear to have any restrictions unless pawn (someone please correct me if I'm wrong). Roll=overs rightly don't have a restriction on them.
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Post by df on Oct 12, 2017 18:21:09 GMT
The same. I didn't get any of these two. By the time the page refreshed there is nothing left. There probably was nothing there in the first place. They are very small loans and I assume most investors renewed their parts in advance. That's the nature of bling loans, they are small and very popular. £0 is available on Col's renewals list for tomorrow, that's the way it goes.
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Post by df on Oct 12, 2017 18:26:33 GMT
What I couldn't understand was they had no restriction on Wereham with a relatively low LTV and £35K requirement and St Annes with (very) roughly twice the loan amount and LTV and a £100 restriction.. leaving aside potential rollovers, where is the logic in all this ? I think that's the point, rollovers don't appear to have any restrictions unless pawn (someone please correct me if I'm wrong). Not 100% sure, but I think I've seen some lower amount property renewals with restrictions.
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mikes1531
Member of DD Central
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Post by mikes1531 on Oct 12, 2017 21:23:06 GMT
By the time the page refreshed there is nothing left. There probably was nothing there in the first place. They are very small loans and I assume most investors renewed their parts in advance. That's the nature of bling loans, they are small and very popular. I have no problem with previous investors being allowed to roll their investments forward if a loan is renewed. But what I'd really like is to know the situation -- even a rough estimate would be helpful -- before I deposit funds to my FS account only to find I really had no chance of placing a new investment because of all the renewing investors. Other platforms can do it, so hopefully fundingsecure can do it as well. It should do wonders towards reducing investor dissatisfaction.
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Post by df on Oct 13, 2017 19:26:38 GMT
By the time the page refreshed there is nothing left. There probably was nothing there in the first place. They are very small loans and I assume most investors renewed their parts in advance. That's the nature of bling loans, they are small and very popular. I have no problem with previous investors being allowed to roll their investments forward if a loan is renewed. But what I'd really like is to know the situation -- even a rough estimate would be helpful -- before I deposit funds to my FS account only to find I really had no chance of placing a new investment because of all the renewing investors. Other platforms can do it, so hopefully fundingsecure can do it as well. It should do wonders towards reducing investor dissatisfaction. I second this. This very simple piece of information could save us some time and unnecessary effort. I'm also thinking that it is not beneficial for them either. It costs them to deal with deposits/withdrawals. Don't know how much, but surely it is not a desirable situation if thousands of investors shift £25 in and out on daily basis. I recall one of the reasons for BM to change their T&C was - it costs them too much to process small payments.
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bg
Member of DD Central
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Post by bg on Oct 14, 2017 12:20:09 GMT
I have no problem with previous investors being allowed to roll their investments forward if a loan is renewed. But what I'd really like is to know the situation -- even a rough estimate would be helpful -- before I deposit funds to my FS account only to find I really had no chance of placing a new investment because of all the renewing investors. Other platforms can do it, so hopefully fundingsecure can do it as well. It should do wonders towards reducing investor dissatisfaction. I second this. This very simple piece of information could save us some time and unnecessary effort. I'm also thinking that it is not beneficial for them either. It costs them to deal with deposits/withdrawals. Don't know how much, but surely it is not a desirable situation if thousands of investors shift £25 in and out on daily basis. I recall one of the reasons for BM to change their T&C was - it costs them too much to process small payments. Do people really transfer over £25 in preparation for a loan such as this? All to try and earn around a quid in interest.....is it really worth the time/effort?
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rogerthat
Member of DD Central
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Post by rogerthat on Oct 14, 2017 13:23:56 GMT
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09dolphin
Member of DD Central
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Post by 09dolphin on Oct 14, 2017 16:30:20 GMT
Up to about a year ago I used to keep anywhere from £2500 - £10000 in my account to bid as loans became available. Now I have a total of slightly over £100 in my account as the likelihood of actually being able to make a bid is remote. I only invest where the security is less than 65% because of the rather optimistic valuations which I mostly find difficult to understand. I never invest where the loan is a 2nd charge unless the 1st charge is less than 10% - a rare thing but has been known, and if it's anything other than jewellery or property (ie not art or boats) I no longer try to make a bid. Having said that I still have money invested in the original Italian library loan - but as it's such a low LTV I'm happy.
I have no confidence in FS managing loans where the borrower has "difficulties", and the majority of loans where ordinary people can invest are normally over 65% LTV and are as unattractive to the small investor as to the larger investors who seem to be able to invest in the loans with a small LTV. The total available where the LTV is low are normally fully invested before 60 seconds has passed and small investors can make a bid. The "attractive" loans I would invest in are long gone within about 10 seconds of going live so there is no point in trying to invest and I have given up trying. Over the past 2 months I haven't even bothered trying to obtain a small portion of "attractive" loans that have a LTV of under 50% as it is impossible.
It seems to me that I am being a "mug" keeping even £100 available and I think I should withdraw this sum. What are the thoughts of other Forumites
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Post by df on Oct 14, 2017 19:00:30 GMT
I second this. This very simple piece of information could save us some time and unnecessary effort. I'm also thinking that it is not beneficial for them either. It costs them to deal with deposits/withdrawals. Don't know how much, but surely it is not a desirable situation if thousands of investors shift £25 in and out on daily basis. I recall one of the reasons for BM to change their T&C was - it costs them too much to process small payments. Do people really transfer over £25 in preparation for a loan such as this? All to try and earn around a quid in interest.....is it really worth the time/effort? In theory it can work out as £60p/h  if the quantity would allow, but I think it very much depends on the amount you have to invest. Definitely no point for those who throw 10k into a single loan.
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Post by df on Oct 14, 2017 19:19:52 GMT
Up to about a year ago I used to keep anywhere from £2500 - £10000 in my account to bid as loans became available. Now I have a total of slightly over £100 in my account as the likelihood of actually being able to make a bid is remote. I only invest where the security is less than 65% because of the rather optimistic valuations which I mostly find difficult to understand. I never invest where the loan is a 2nd charge unless the 1st charge is less than 10% - a rare thing but has been known, and if it's anything other than jewellery or property (ie not art or boats) I no longer try to make a bid. Having said that I still have money invested in the original Italian library loan - but as it's such a low LTV I'm happy.
I have no confidence in FS managing loans where the borrower has "difficulties", and the majority of loans where ordinary people can invest are normally over 65% LTV and are as unattractive to the small investor as to the larger investors who seem to be able to invest in the loans with a small LTV. The total available where the LTV is low are normally fully invested before 60 seconds has passed and small investors can make a bid. The "attractive" loans I would invest in are long gone within about 10 seconds of going live so there is no point in trying to invest and I have given up trying. Over the past 2 months I haven't even bothered trying to obtain a small portion of "attractive" loans that have a LTV of under 50% as it is impossible.
It seems to me that I am being a "mug" keeping even £100 available and I think I should withdraw this sum. What are the thoughts of other Forumites
If I understand your strategy correctly, if I were you I would withdraw it and import funds only when the right loan for you is announced. They give enough warning for the funds to reach FS account before the bidding starts. I always keep some idle cash in FS, but my standards are not as high, so there is always something that I'm comfortable to invest in. Saying that, in the past few months I tend to withdraw more than deposit.
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if the quantity would allow, but I think it very much depends on the amount you have to invest. Definitely no point for those who throw 10k into a single loan.