SteveT
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Post by SteveT on Jan 31, 2018 16:32:58 GMT
Where did all these loan parts free up from? Never seen this before on a loan so new!  (Max was a very chunky 28k approx) , and are unable to sell other loan parts to compensate. If so, they are idiots. There is absolutely nothing to be gained by asking for a larger allocation than you actually want to receive (and are able to pay for). I hope and trust that Lendy won't seek to punish those who DID pay for their allocation by requiring "cash on account" from all. Only those who FAILED to pay for the allocations they requested should have their pre-funding privileges removed.
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ingwer
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Post by ingwer on Jan 31, 2018 16:33:02 GMT
Wonder if Lendy will accept any reasonable explanations before getting heavy handed with the lenders that do not fulfill their obligations. If you cant sell because the SM is not moving, does that count ?
Cant decide whether to break my rule about investing further in the platform. Might wait and have a couple of nights to sleep on it.
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blata
Posts: 77
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Post by blata on Jan 31, 2018 16:35:14 GMT
People gaming the system they should have there INPL removed immediately.
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Post by skint4achange on Jan 31, 2018 16:40:07 GMT
People gaming the system they should have there INPL removed immediately. That is the point of SteveT. There is no point gaming the lendy system!
If you want £2000 and the allocation is £2000, you will get what you want. If you ask for £2000 and the allocation is £500, you will get £500. If you ask for £1m and the allocation is £500, you will still only get £500. Totally pointless.
If you ask for £20,000, but want £2000 and the allocation is £20,000 you will be given £20,000 of which you won't pay for £18,000.
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rrrupert
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Post by rrrupert on Jan 31, 2018 17:18:28 GMT
I just got an email from Lendy timed 17.09 which indicates that as an existing investor in DFL033 I get first dibs at the new allocation. This might explain why the loan is slow to go down if non-investors in this loan cannot currently access it.
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gustapher
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Post by gustapher on Jan 31, 2018 17:29:20 GMT
Hmmmnnn.... I think Lendy are buttering up their easy-prey (existing lenders) on this, I don't have funds on account, and not an investor, but it looks available to purchase by anyone to me. How do you work that out? If they were "buttering up their easy-prey" would they not just offer it to everyone knowing the interest run is tomorrow?
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mary
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Post by mary on Jan 31, 2018 17:38:08 GMT
I think that the well of existing investors who wanted more than the £28k allocation is fairly small.
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gustapher
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Post by gustapher on Jan 31, 2018 17:47:29 GMT
How do you work that out? If they were "buttering up their easy-prey" would they not just offer it to everyone knowing the interest run is tomorrow? It's the " we are making this newly released investment allocation available to you first" when it appears to be available to every one. Assuming I'm correct that anyone with credit n their account can purchase, then in my opinion, it's disingenuous. Would have been more accurate to say " we are emailing you first". Ah sorry makes sense - I misunderstood.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 31, 2018 18:03:59 GMT
How do you work that out? If they were "buttering up their easy-prey" would they not just offer it to everyone knowing the interest run is tomorrow? It's the " we are making this newly released investment allocation available to you first" when it appears to be available to every one. Assuming I'm correct that anyone with credit n their account can purchase, then in my opinion, it's disingenuous. Would have been more accurate to say " we are emailing you first". How curious that the availability post email did not shoot upwards as Lendy put the unpaid for parts up for sale. Something appears to be being done to support the scrapping/ reducing of inpl or I may be letting my cynicism run away again. As an aside, at one stage in Lendys life, investors needed to ask for more in pre funding to get anywhere near what they "wanted". This has changed as funds have left and/ or people are trapped..... etc. If Lendy indicated up front in realtime the expected allocation based on pre funding then this "gaming" would be reduced this removing the over demand. An alternative is to allow discounting to get money freed up! Ducks behind parapet of my dugout awaiting attack. Good luck with extra funding on the interest run tonight.
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Post by df on Jan 31, 2018 18:10:32 GMT
How do you work that out? If they were "buttering up their easy-prey" would they not just offer it to everyone knowing the interest run is tomorrow? It's the " we are making this newly released investment allocation available to you first" when it appears to be available to every one. Assuming I'm correct that anyone with credit n their account can purchase, then in my opinion, it's disingenuous. Would have been more accurate to say " we are emailing you first". "...available to you first" is a cheap marketing trick - trying to make you feel special and privileged.
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elliotn
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Post by elliotn on Feb 1, 2018 2:02:55 GMT
Wonder if Lendy will accept any reasonable explanations before getting heavy handed with the lenders that do not fulfill their obligations. If you cant sell because the SM is not moving, does that count ? Cant decide whether to break my rule about investing further in the platform. Might wait and have a couple of nights to sleep on it. No. Investors should only request what they can readily pay for, not what they're guessing/praying they'll be able to sell in time. Disclaimer: Whilst I did pay for mine by sales I would have transferred in the necessary funds to cover any sales' gap within 24 hours ie c.o.b Sunday.
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jcb208
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Post by jcb208 on Feb 1, 2018 7:51:20 GMT
Maybe its time for a penalty charge for investors who do not meet there obligation, this may stop gaming and the threat of Lendy removing INPL on prefunding.
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Post by skint4achange on Feb 1, 2018 8:12:28 GMT
Maybe its time for a penalty charge for investors who do not meet there obligation, this may stop gaming and the threat of Lendy removing INPL on prefunding. What would stop people gaming the system is if they actually understood that they gain nothing from it! The way Lendy allocate their loan parts means that anyone asking for more than they want won't get any extra anyway.
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treeman
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Post by treeman on Feb 1, 2018 10:12:06 GMT
I think the default/blanket pre-fund options were a mistake - I suspect quite a few are caught out by these settings on short notice go-lives.
Wonder if the increasing problems correlate with introducing these options?
IMO Pre-funding should be on a manual, positive choice, loan by loan basis.
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Mousey
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Post by Mousey on Feb 1, 2018 12:21:30 GMT
Was not surprised to see the rest of this go after the interest run. I had a small top up myself
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