markr
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Post by markr on Oct 30, 2017 16:18:36 GMT
There's been a £260,000 loan on the loan requests page since this morning. After an initial splurge of Autobids, it reached about 40% full then stalled, and has been receiving only trickles since around noon. It's an A to a company with no other FC loans, so everyone with 0.5% available funds is eligible to own it, so I suspect that there aren't enough available funds to fill it.
I'd be eligible except that earlier Autobid nibbled on the secondary market and took my available funds to just less than 0.5%, so because it can't bid my 0.5% chunk, it refuses to bid anything.
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fp
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Post by fp on Oct 30, 2017 19:00:15 GMT
There's been a £260,000 loan on the loan requests page since this morning. After an initial splurge of Autobids, it reached about 40% full then stalled, and has been receiving only trickles since around noon. It's an A to a company with no other FC loans, so everyone with 0.5% available funds is eligible to own it, so I suspect that there aren't enough available funds to fill it. I'd be eligible except that earlier Autobid nibbled on the secondary market and took my available funds to just less than 0.5%, so because it can't bid my 0.5% chunk, it refuses to bid anything. Hmm, not so sure, there is also another loan for a similar amount which is currently 29% filled (I think) so if your theory is correct, that one should be hanging around tomorrow too, I have 5 outstanding orders at the moment and some of those loans are only 5 figures so I would expect them to fill easily.
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Post by andyoz on Oct 31, 2017 8:59:52 GMT
Not sure how relevant it is but I have noticed a lot more money sat in my holding account since the changes. I have always used autobid and before the changes would get to 0.25%, bid on a loan and then the holding account would be virtually empty when the load part was bought. Now my holding account rises to around 0.75% and then drops to around 0.25%. This leaves more of my fund not earning interest.
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Post by jackpease on Oct 31, 2017 9:28:21 GMT
Yesterday mine was the lowest ever (a few pence) since the changes took place - long may it continue to reduce cash drag
Jack P
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Post by mikeyp on Oct 31, 2017 10:30:36 GMT
I was down to about £3 of available funds for a while yesterday and then 'Property development in East Sussex 1
' repaid to put me just under the 0.5%. I popped in another £1k this morning and that has mostly gone in orders on four loans, three of which are not yet filled. One is at 95% and the other two at 41%. Looking at 'All orders', the autobidder still works in fits and starts - nothing for quite a while overnight and then a burst around 0445.
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Post by grahamreeds on Nov 1, 2017 15:17:05 GMT
I have had >£160 since yesterday lunchtime and not bought a single loan part. My .5% mark is £127. I have checked the lending tab and it says that I am Balanced.
Is there anyway of checking how many loans are live at any one time from within the web interface?
GR
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trevor
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Post by trevor on Nov 1, 2017 20:29:02 GMT
I have 2.3% of my funds available. Plenty of lender cash, no borrowers!
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Post by spareafewcoppersguv on Nov 2, 2017 10:41:52 GMT
There's been a £260,000 loan on the loan requests page since this morning. After an initial splurge of Autobids, it reached about 40% full then stalled, and has been receiving only trickles since around noon. It's an A to a company with no other FC loans, so everyone with 0.5% available funds is eligible to own it, so I suspect that there aren't enough available funds to fill it. I'd be eligible except that earlier Autobid nibbled on the secondary market and took my available funds to just less than 0.5%, so because it can't bid my 0.5% chunk, it refuses to bid anything. Hi I must be missing something as I can't find the loan requests page. Would you mind telling me where to find it? Thanks
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Post by grahamreeds on Nov 2, 2017 14:41:47 GMT
I asked the exact same thing yesterday.
I still haven't bought any loan parts in two days and now have >£200 in my account.
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markr
Member of DD Central
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Post by markr on Nov 2, 2017 14:49:12 GMT
Hi I must be missing something as I can't find the loan requests page. Would you mind telling me where to find it? Thanks You're not supposed to be able to find it since the change to Autobid, but in FC's usual style, they didn't move the page so if you had a bookmark to it, you can still see it. In case you didn't, the loan requests page is at www dot fundingcircle dot com/l**n-re****ts (replace the asterisks with the obvious!)
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Post by df on Nov 2, 2017 19:10:55 GMT
Hi I must be missing something as I can't find the loan requests page. Would you mind telling me where to find it? Thanks You're not supposed to be able to find it since the change to Autobid, but in FC's usual style, they didn't move the page so if you had a bookmark to it, you can still see it. In case you didn't, the loan requests page is at www dot fundingcircle dot com/l**n-re****ts (replace the asterisks with the obvious!) I've never seen it since the change. I've just typed your link and it says "The page you were looking for doesn't exist".
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Post by Badly Drawn Stickman on Nov 2, 2017 19:21:28 GMT
You're not supposed to be able to find it since the change to Autobid, but in FC's usual style, they didn't move the page so if you had a bookmark to it, you can still see it. In case you didn't, the loan requests page is at www dot fundingcircle dot com/l**n-re****ts (replace the asterisks with the obvious!) I've never seen it since the change. I've just typed your link and it says "The page you were looking for doesn't exist". I guess you would need to be logged into an account for it to work, you could then create a bookmark to view it when visiting, should you wish. I would assume it would never have a lot on display as the loans would just fill and disappear. Edit. I have inadvertently used loan instead of order to describe the.........err........loans
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bloodycat
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Post by bloodycat on Nov 2, 2017 19:23:59 GMT
Certainly looks like a shortage of borrowers. though I don't think you can tell anything about lenders unless the number of bids remains as only a trickle for
many hours.
Judging by the rate at which bids are recorded when autobodge is running full tilt, it looks like their superb IT systems need faster hamsters. The reduced bid rates are likely down to the system having to process other transactions and respond to requests from the website, rather than it waiting for funds to become available. If they cleared out all the now redundant legacy code from when they allowed us some control it might reduce the load on the server a bit, though given their track record it could make it worse.
If they were short of investors funds they should be able to tweak the system to place £20/50/100 bids if funds are available, even if that is less than 0.5% of total funds, which would at least give them a short term boost.
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Post by df on Nov 2, 2017 19:43:49 GMT
I have 2.3% of my funds available. Plenty of lender cash, no borrowers! I've monitored my account since the change. Cash drag is very little, get invested within one or two days as soon the returns reach the 0.5% margin. One thing I don't like is that most of my new autobid investments are in bullet property loans. When I was in control I deliberately avoided them. One of the reasons I signed up to FC was to diversify, there is no shortage of property development loans on other platforms that carry the same risk and pay better interest. I can't see why would FC run out borrowers. The rates are lower than competitors', there is no need to provide much information and and wait for days or weeks for the loan to be filled.
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markr
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Post by markr on Nov 2, 2017 20:08:15 GMT
URL: Yes, you have to be logged in for it to work, and I guess on some browsers you may need to add the https:// in front manually.
Property loans: FC is phasing them out, so it's a temporary problem, but it is annoying when Autobid buys one. For me, it picked up a £200 property loan with 2 payments left, but luckily since it was the only £200 part I had, I was able to sell it again(*) and get another dip in the bran tub.
(*) By requesting a sell out of £199.
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