bigfoot12
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Post by bigfoot12 on May 22, 2018 18:30:04 GMT
I really think FC has changed something about lending. The FCIF lost 0.6% in April and they may be lending less in the high risk loans at the moment hence lower projected return. This is a much discussed changed in accountancy rules. Look elsewhere on this board. Similar changes have happened on at least one (probably both) of P2PGI and VSL, and probably other similar investment trusts. My issue is simply that it's a return of 7.5% on 60% of my money, but 0% on the other 40%. So that's 4.5% overall (for me), and if this 40% "limit" is indeed true then that is how it will stay. Look back a week or so and lending seemed to stop at 50%. My guess is a glut of ISA money is taking a month or two be deployed. My second guess is that this will improve over the next few weeks. This isn't a significant concern for me.
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benaj
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Post by benaj on May 23, 2018 15:42:08 GMT
There might be something in this. Following my initial deposit, I was allocated 70-something loans in 3 days before it all stopped. Since then, I have crawled up to 80. Perhaps after the 2 week mark ticks by the algorithm will start considering me again ... I will find out tomorrow. Well, I have added new fund to my old account for 20 new loan parts. After 2-3 hours of depositing the money, the matching algorithm started the work. I now have acquired 4 new PM loans, Loan ID (56980-56991), that's 4 loans matched in the time frame of FC lending out 12 loans. I suppose it takes at least 2-3 hours before money join the lending queue. Today, FC has at least lent out 50+ new loans today, latest one I got is 56997.
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cb25
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Post by cb25 on May 23, 2018 16:13:22 GMT
There might be something in this. Following my initial deposit, I was allocated 70-something loans in 3 days before it all stopped. Since then, I have crawled up to 80. Perhaps after the 2 week mark ticks by the algorithm will start considering me again ... I will find out tomorrow. Well, I have added new fund to my old account for 20 new loan parts. After 2-3 hours of depositing the money, the matching algorithm started the work. I now have acquired 4 new PM loans, Loan ID (56980-56991), that's 4 loans matched in the time frame of FC lending out 12 loans. I suppose it takes at least 2-3 hours before money join the lending queue. Today, FC has at least lent out 50+ new loans today, latest one I got is 56997. Interesting, my ISA account has made just one £45 purchase (56988), despite the fact that still leaves £216 unallocated.
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Post by Ace on May 23, 2018 16:42:02 GMT
Despite having 50% unallocated funds I only picked up 2 £20 loans today (56938 and 56980)!
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benaj
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Post by benaj on May 23, 2018 16:47:24 GMT
Ace, cb25 It seems something triggered the slow matching mode. May be hitting a matching target after the initial deposit Try something to restart the fast mode
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Post by Ace on May 23, 2018 17:07:05 GMT
Ace, cb25 It seems something triggered the slow matching mode. May be hitting a matching target after the initial deposit Try something to restart the fast mode I tried adding £500 yesterday.
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Stonk
Stonking
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Post by Stonk on May 23, 2018 19:31:58 GMT
There might be something in this. Following my initial deposit, I was allocated 70-something loans in 3 days before it all stopped. Since then, I have crawled up to 80. Perhaps after the 2 week mark ticks by the algorithm will start considering me again ... I will find out tomorrow. Wednesday: I started the day with 37% spare cash, received 5x £20 parts, and ended the day with 33% spare cash. It is a slight improvement, but still agonisingly slow. It's now 2 weeks that I've been trying to get £2,500 loaned out. One way to lend £2,500 would be: deposit a much larger amount, say £10,000; turn off lending once £2,500 has been allocated; sell any excess; withdraw £7,500; turn lending back on. The downside is larger-than-ideal loan parts.
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benaj
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Post by benaj on May 23, 2018 20:41:48 GMT
Ace, cb25 It seems something triggered the slow matching mode. May be hitting a matching target after the initial deposit Try something to restart the fast mode I tried adding £500 yesterday. My guess, once you are in the stop lending mode, adding £500 does not stop the slow lending mode. Check your transactions for dripping 10k in those 5 weeks and see what trigger stopping a slow mode. My account has matched 12 loans (£20) today, last one is 57008, hence FC has lent out at least 65+ loans today. Overal, I have 40 loans matched since Monday over 3 days.
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Post by Ace on May 23, 2018 22:31:56 GMT
I tried adding £500 yesterday. My guess, once you are in the stop lending mode, adding £500 does not stop the slow lending mode. Check your transactions for dripping 10k in those 5 weeks and see what trigger stopping a slow mode. My account has matched 12 loans (£20) today, last one is 57008, hence FC has lent out at least 65+ loans today. Overal, I have 40 loans matched since Monday over 3 days. Thanks for the suggestion benaj. I've looked at the 2 accounts where I've tried to get similar amounts invested (one successful and one not successful). The only potential difference that I can see is that on the successful one I may not have let the percentage of unallocated funds drop to the cut off point. The reason for this is that the cut off point was much lower back then. Though can't be sure of this since details of the actual cut off point are not published, and, in any case, I'm not convinced it's the real reason for the inequity. Even my near fully invested account has crept up to 1.1% unallocated due to interest payments today with no new loans allocated. Not that I'm complaining about receiving interest😆
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cb25
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Post by cb25 on May 24, 2018 15:23:50 GMT
Having had just one £45 loan in each of the last 2 days, I added £1000 around lunchtime today (bringing ISA total to £10K plus interest). Account has made 5 x £50 loans so far, so looking up a little.
edit: 25 May - ISA account shows 10 x £50 loan offers made yesterday after I added the £1000, has also made 5 x £50 loan offers today but still have £463 (out of £10K plus interest) yet to invest
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benaj
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Post by benaj on May 24, 2018 18:18:01 GMT
Thanks for the suggestion benaj. I've looked at the 2 accounts where I've tried to get similar amounts invested (one successful and one not successful). The only potential difference that I can see is that on the successful one I may not have let the percentage of unallocated funds drop to the cut off point. The reason for this is that the cut off point was much lower back then. Though can't be sure of this since details of the actual cut off point are not published, and, in any case, I'm not convinced it's the real reason for the inequity. Even my near fully invested account has crept up to 1.1% unallocated due to interest payments today with no new loans allocated. Not that I'm complaining about receiving interest😆 I downloaded the monthly transaction CSVs for my old account. I notice the unallocated funds can get up to 1.5%, it can take up to 3 days to match new loans. Looking back, at the beginning on May, when FC needed money for lending, I managed to match 60 loans on one day out of 80 new loans formed on the same day. That’s about 30% of the new deposit. But the fast matching stopped pretty quickly after matching 100 loans in 3 days, like hitting the wall or something. Today, I managed to pick up 20 PM loans out of 70 new loans lent by FC. Yesterday, I added fund in my old account for 20 loans. So far only 10 loans matched for 2 days. It seems the matching algorithm is not willing to match more than 30% of new deposit fund per day.
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Post by Ace on May 24, 2018 19:37:16 GMT
I would be ecstatic if 30% of new money got leant in a day.
I've had 3 separate periods of a whole week with zero new loans, despite having ~40% unallocated funds.
Having said that, I did get 9 loans today.
EDIT: Forgot to say that my near fully invested account got 2 more loans today to bring it's unallocated funds back under 0.5%. Further evidence that there's no significant cash drag once fully invested.
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cb25
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Post by cb25 on May 25, 2018 15:05:23 GMT
I would be ecstatic if 30% of new money got leant in a day. I've had 3 separate periods of a whole week with zero new loans, despite having ~40% unallocated funds. Having said that, I did get 9 loans today. EDIT: Forgot to say that my near fully invested account got 2 more loans today to bring it's unallocated funds back under 0.5%. Further evidence that there's no significant cash drag once fully invested. Since adding £1000 about 28 hours ago (bringing ISA total to £10K plus interest), I've had loan offers for 75% (£750) of it.
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benaj
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Post by benaj on May 25, 2018 15:19:36 GMT
I would be ecstatic if 30% of new money got leant in a day. I've had 3 separate periods of a whole week with zero new loans, despite having ~40% unallocated funds. Having said that, I did get 9 loans today. EDIT: Forgot to say that my near fully invested account got 2 more loans today to bring it's unallocated funds back under 0.5%. Further evidence that there's no significant cash drag once fully invested. Since adding £1000 about 28 hours ago (bringing ISA total to £10K plus interest), I've had loan offers for 75% (£750) of it. That's pretty good cb25 , 15 loans matched for £750. Since this morning, FC has already lent out 66+ loans, and I have got 12 matched, . With my old account, I only have a SM loan matched, that's about 11 loans since I topped up fund for 20 loans for Wednesday. So, it is definitely not a good idea to load money more than 100 loans a time. Adding a small amount like £500 in my old account is not effective for fast matching either.
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cb25
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Post by cb25 on May 25, 2018 15:29:02 GMT
Since adding £1000 about 28 hours ago (bringing ISA total to £10K plus interest), I've had loan offers for 75% (£750) of it. That's pretty good cb25 , 15 loans matched for £750. Since this morning, FC has already lent out 66+ loans, and I have got 12 matched, . With my old account, I only have a SM loan matched, that's about 11 loans since I topped up fund for 20 loans for Wednesday. So, it is definitely not a good idea to load money more than 100 loans a time. Adding a small amount like £500 in my old account is not effective for fast matching either. My non-ISA account (within the same email address) has around £20K in it, with only £85 available for investment. Clearly that's doing much better percentage wise than the ISA account with £463 yet to invest on an approx £10K balance.
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