When is Thincats going to add the code to their secondary market that deletes/hides loans that have already been fully purchased. It is the most frustrating & time-wasting process to click on a secondary market loan only to find that it has already been sold (i.e. fully funded) and is therefore not available for purchase. It shouldn't reflect there if its sold.
Also, why the delay in going live when investors want to sell a loan part. This is not necessary. Why can these not go live immediately? Again frustrating when you see something and its not available.
I brought this up to them a couple of years ago and was told they would be upgrading their system, but quite frankly, their 'relaunched/new' website appears to have had no functional backend changes made, merely an upgrade to look/feel.
Come on Thincats! Give your investors what they need.
I recently registered ahead of the new year 1% fee.
I've been very surprised at how the SM is almost entirely manual. I can see why they need to levy a not insignificant 1% to run it although automating substantial parts of it would speed up the investor experience and reduce the overhead. Also the fixed evening 'go-lives' means I'll have little chance of a fixed rate SM purchase.
Do we know why it was set up (and then maintained) so manually?
I can only think that it was created/coded a while back (as they are one of the oldest P2P platforms) and they have not allocated funds/resources to update the coding to be inline with what other platforms have done (and are continuing to develop) to create an intuitive, realtime environment in which lenders can transact.