Post by sl125 on Nov 18, 2017 11:13:00 GMT
I've been playing around with the sell functionality in order to try to offload any A+ and A loads that the system buys for me. Because my portfolio is large, occasionally I get allocated a single loan part of over £1000 from the secondary market. So, on the sell page I can enter £1000, and thankfully the system selects that specific part to sell. It then takes ages to sell, because it needs to find another person with a very large portfolio to sell it to.
However, what is fascinating is how the sell functionality works for the plethora of £100 parts it allocates on the primary market. I too thought that if I wait until the first payment had been made, then I should be able to sell a specific part based on entering the exact amount of the amortised balance (eg. a £100 A loan part with 59 weeks left will have a balance of £98.64). But whatever value I enter above £90, the system always selects a £100 loan part randomly. If, however, I enter a value of, say, £89, the system will select a loan part whose current balance is indeed around £89. And this seems to work for all smaller amounts too.
So, it leads me to think that FC have hardcoded a condition between £90 and £100 to always round up to £100, so as to avoid people gaming the system by selecting the residual balance amount of known A+ and A loans within the first few months.
Meanwhile, I have another headache: today is the 2nd month anniversary of the new system, and yet in all that time the automated system has allocated to me mostly A+, A, and one B and one C. Not a single D or E. Not sure how "balanced" this is, and how the new loans allocated to me will achieve the 7.5% goal.
However, what is fascinating is how the sell functionality works for the plethora of £100 parts it allocates on the primary market. I too thought that if I wait until the first payment had been made, then I should be able to sell a specific part based on entering the exact amount of the amortised balance (eg. a £100 A loan part with 59 weeks left will have a balance of £98.64). But whatever value I enter above £90, the system always selects a £100 loan part randomly. If, however, I enter a value of, say, £89, the system will select a loan part whose current balance is indeed around £89. And this seems to work for all smaller amounts too.
So, it leads me to think that FC have hardcoded a condition between £90 and £100 to always round up to £100, so as to avoid people gaming the system by selecting the residual balance amount of known A+ and A loans within the first few months.
Meanwhile, I have another headache: today is the 2nd month anniversary of the new system, and yet in all that time the automated system has allocated to me mostly A+, A, and one B and one C. Not a single D or E. Not sure how "balanced" this is, and how the new loans allocated to me will achieve the 7.5% goal.
