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Post by nickhickman on Dec 13, 2017 13:31:48 GMT
I started with £2k and the balanced lending option. A good chunk of it was lent out in the first few days but this has now reduced to a trickle of 2-4 loans per day. At this rate (assuming the trickle doesn't dry up even more) it will take ~6 weeks for the remainder to get lent out. Is this usual at FC? I was thinking to add some more but might go elsewhere if it is just going to sit there for weeks doing nothing.
I've raised similar Q re. the "contact us" option on the FC site and will see what it has to say.
Thanks for any insights.
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Post by nickhickman on Dec 13, 2017 13:37:13 GMT
I got an almost immediate response from FC, so can't fault them on that. Sounds like it should take too long. Let's see.
"Thank you for your email regarding your funds being invested.
Our tool works on an algorithm, so works its way through the list of investors we have on the platform and the list of loans and begins making allocations. It is for this reason that the tool does not immediately lend funds.
The speed of your lending will also depend on the market conditions on the platform. We work hard to ensure there is a good balance of the supply of loans versus the demand from investors across the platform, however this will fluctuate from time to time. Traditionally the start of the month is a slower time for investment as the sales teams will have exhausted their pipeline for the end of month target.
Also theoretically, accounts with a higher percentage of portfolio sitting idle, will see their funds lent out quicker, as the account should be prioritised in the algorithm.
Typically as we are drawing nearer to the holiday period, it is usually quieter than usual with regards to businesses looking for finance, this is because many of the businesses looking for loans offices will be closed for the Christmas period, so typically lending will slow down.
Unfortunately I am unable to provide an exact time frame for how long it will take for your funds to be invested, but I would expect to see most of it lent out by the end of next week.
I appreciate that it can be frustrating to see an amount of your funds not being lent and therefore not earning interest; we actively manage the market place to ensure there is enough new loans coming through to allow funds to be lent out and cash drag to remain minimal.
I hope this information is useful. If you have any further queries please let me know."
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Post by skint4achange on Dec 13, 2017 13:41:00 GMT
In my experience, lending out £2k will be around 5 to 7 days, not including weekends. I usually get around 20 loan parts a day @ £20. If you want to lend it out quicker, put more in and then suspend lending when you have lent what you want to lend. This will however reduce your diversification.
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Post by mikeyp on Dec 13, 2017 13:58:08 GMT
It does seem to have gone a bit quiet. I haven't had a PM offer since last Thursday despite several property loans repaying. I suppose you can understand small businesses not wanting to borrow money and pay interest over the holiday period when they may not be able to use the money until the new year. I'd hope some will use the holidays to complete the paperwork for new loans.
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Post by skint4achange on Dec 13, 2017 14:05:37 GMT
It does seem to have gone a bit quiet. I haven't had a PM offer since last Thursday despite several property loans repaying. I suppose you can understand small businesses not wanting to borrow money and pay interest over the holiday period when they may not be able to use the money until the new year. I'd hope some will use the holidays to complete the paperwork for new loans. PM?? Sorry, not sure what you are referring to but there are plenty of loans going through FC at the moment? I have had 34 loan parts issued over the last 2 days?
I did have this issue before where my money was not being lent out and the answer I got from FC was a cut and paste from their FAQ's (Similar to that of the OP). It may be that there are not enough loans at the correct risk level to maintain your returns at your set level.
Also, not sure how much you have waiting to be loaned out, but don't forget the minimum amount to lend per loan part (£20)
Edit: There have been 343 loans formed since last Thursday
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Post by grahamreeds on Dec 13, 2017 14:18:09 GMT
PM - Primary Market
SM - Secondary Market
DM - Dungeon Master*
* Joke, FC doesn't really have any dungeons to require a master.
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Post by skint4achange on Dec 13, 2017 14:19:55 GMT
Oh right, well in that case he may have had a shed load of SM loan parts from an account I just flushed!!  |
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blender
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Post by blender on Dec 13, 2017 14:58:01 GMT
PM - Primary Market SM - Secondary Market DM - Dungeon Master* * Joke, FC doesn't really have any dungeons to require a master. Not any more, but they have been known to jail at least two people on the defunct forum.
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benaj
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Post by benaj on Dec 13, 2017 15:21:13 GMT
I started with £2k and the balanced lending option. A good chunk of it was lent out in the first few days but this has now reduced to a trickle of 2-4 loans per day. At this rate (assuming the trickle doesn't dry up even more) it will take ~6 weeks for the remainder to get lent out. Is this usual at FC? I was thinking to add some more but might go elsewhere if it is just going to sit there for weeks doing nothing.
I've raised similar Q re. the "contact us" option on the FC site and will see what it has to say.
Thanks for any insights. A new account takes about a month to diversify investment via FC Algorithm. Before the "improved FC", you could have purchased loans via secondary market to speed things up, not anymore.
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Post by skint4achange on Dec 13, 2017 15:48:23 GMT
I started with £2k and the balanced lending option. A good chunk of it was lent out in the first few days but this has now reduced to a trickle of 2-4 loans per day. At this rate (assuming the trickle doesn't dry up even more) it will take ~6 weeks for the remainder to get lent out. Is this usual at FC? I was thinking to add some more but might go elsewhere if it is just going to sit there for weeks doing nothing.
I've raised similar Q re. the "contact us" option on the FC site and will see what it has to say.
Thanks for any insights. A new account takes about a month to diversify investment via FC Algorithm. Before the "improved FC", you could have purchased loans via secondary market to speed things up, not anymore. I have 7 accounts and none of them have taken more than 10 days to obtain the full allocation. The reason I said 5 days was because the OP stated they had £2k invested. I am currently being allocated on average 20 loan parts per day.
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benaj
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Post by benaj on Dec 13, 2017 17:03:25 GMT
A new account takes about a month to diversify investment via FC Algorithm. Before the "improved FC", you could have purchased loans via secondary market to speed things up, not anymore. I have 7 accounts and none of them have taken more than 10 days to obtain the full allocation. The reason I said 5 days was because the OP stated they had £2k invested. I am currently being allocated on average 20 loan parts per day. I have checked the statements, it was indeed less than 10 days to take up full allocation before the "improved the FC" with Autobid and Secondary market. Does it take longer than 10 days under the "improved FC"?
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Post by skint4achange on Dec 13, 2017 17:12:07 GMT
I was never invested in the old system so I will bow to your better judgement on that point. I have also found that you can upset the algorithm of FC by "Recycling" on a regular basis. Hence the need for multiple accounts (My bad!  )
I have however experienced times where your account is not used in any loans. I have had £2k sat in the account and had no loan parts for 2 days even when there are 70 or 80 loans a day being formed.
The new system is a bit hit and miss as far as I can see, but I believe there is apart of the Black box that invests the larger account holdings first. I could be wrong, it has been known in the past! 
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agent69
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Post by agent69 on Dec 15, 2017 18:51:08 GMT
I withdrew from FC many years ago, but decided to start investing again when the recent changes were made. I've been dripping £200 a time in and it's always been invested in a day. However, I've just got up to £20 interest payments, and that seems to have given the system constipation. The £20 hasn't shifted in 3 days, and the £200 I added yesterday is still there.
Is this just coincidence, or is the interest really blocking up the system?
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Post by grahamreeds on Dec 16, 2017 8:55:17 GMT
How large is your portfolio?
With the £200 you have added, a Friday is usually fairly quiet. I expect some to disappear with SM market purchases over the weekend.
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benaj
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Post by benaj on Dec 16, 2017 9:26:23 GMT
I withdrew from FC many years ago, but decided to start investing again when the recent changes were made. I've been dripping £200 a time in and it's always been invested in a day. However, I've just got up to £20 interest payments, and that seems to have given the system constipation. The £20 hasn't shifted in 3 days, and the £200 I added yesterday is still there. Is this just coincidence, or is the interest really blocking up the system? I have just opened a new account and loaded money for 200 different loans. So far after day 1, 31 loans matched and only one of them were recycled.
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