hantsowl
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Post by hantsowl on Oct 9, 2018 8:33:13 GMT
It will be run after 3pm each day for the PLE but there's no absolute fixed time. Auto-Lend for the primary market will run earlier in the day, immediately prior to our midday 'In Funding' time. The facility has not really been designed to be actively managed like this, but if you want to use it in this way it's entirely up to you. Has anyone tried this approach of turning on Auto Invest in the morning to ensure they are in the queue for a go live and then off afterward to ensure they do not pick up the Exchange loans? I have missed the last two loans due to being a couple of mins too late. So want to ensure I don't missed todays. Yes, I have done that and it works. Just make sure you switch off before the PLE run which I think is around 3pm.
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huxs
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Post by huxs on Oct 9, 2018 11:05:38 GMT
Has anyone tried this approach of turning on Auto Invest in the morning to ensure they are in the queue for a go live and then off afterward to ensure they do not pick up the Exchange loans? I have missed the last two loans due to being a couple of mins too late. So want to ensure I don't missed todays. Yes, I have done that and it works. Just make sure you switch off before the PLE run which I think is around 3pm. Thanks worked a treat, now lets not tell anyone else
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IFISAcava
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Post by IFISAcava on Jun 5, 2019 8:38:45 GMT
It seems that autolend can turn itself off. I enabled it yesterday, then sold a loan this morning in readiness for the 12 noon loan, and happened to see that autolend was no longer enabled. Does it turn itself off if you sell a loan part? Seems like a glitch if that's the case, and couldn't see this mentioned in the autolend T&Cs. Either way there's a glitch - I would have missed out on autolend today if I hadn't checked.
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Post by proplend on Jun 5, 2019 9:21:29 GMT
It seems that autolend can turn itself off. I enabled it yesterday, then sold a loan this morning in readiness for the 12 noon loan, and happened to see that autolend was no longer enabled. Does it turn itself off if you sell a loan part? Seems like a glitch if that's the case, and c ouldn't see this mentioned in the autolend T&Cs. Either way there's a glitch - I would have missed out on autolend today if I hadn't checked. There's no glitch IFISAcava. Auto-Lend needs to be turned off to sell loan parts and this confirmation box, that would have appeared during the process, clearly states this. It is also mentioned a couple of times on the Auto-Lend information page - in the ' It's Important To Understand that' section and the FAQs As you'd reasonably expect, when Auto-Lend is off, only you can turn it back on. If there's anyting else you're unsure about, please contact us. Richard
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IFISAcava
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Post by IFISAcava on Jun 5, 2019 9:33:23 GMT
It seems that autolend can turn itself off. I enabled it yesterday, then sold a loan this morning in readiness for the 12 noon loan, and happened to see that autolend was no longer enabled. Does it turn itself off if you sell a loan part? Seems like a glitch if that's the case, and c ouldn't see this mentioned in the autolend T&Cs. Either way there's a glitch - I would have missed out on autolend today if I hadn't checked. There's no glitch IFISAcava. Auto-Lend needs to be turned off to sell loan parts and this confirmation box, that would have appeared during the process, clearly states this. It is also mentioned a couple of times on the Auto-Lend information page - in the ' It's Important To Understand that' section and the FAQs As you'd reasonably expect, when Auto-Lend is off, only you can turn it back on. If there's anyting else you're unsure about, please contact us. Richard Fair enough - mea culpa. I did read the FAQs page looking for the info but obviously missed it. Not sure why it's necessary to turn it off mind you.
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Post by proplend on Jun 5, 2019 9:43:43 GMT
There's no glitch IFISAcava. Auto-Lend needs to be turned off to sell loan parts and this confirmation box, that would have appeared during the process, clearly states this. It is also mentioned a couple of times on the Auto-Lend information page - in the ' It's Important To Understand that' section and the FAQs As you'd reasonably expect, when Auto-Lend is off, only you can turn it back on. If there's anyting else you're unsure about, please contact us. Richard Fair enough - mea culpa. I did read the FAQs page looking for the info but obviously missed it. Not sure why it's necessary to turn it off mind you. Auto-Lend is turned off so that it doesn't just go ahead and reinvest your sale proceeds, when this might not be what you want. Richard
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Post by Ace on Sept 16, 2019 13:22:43 GMT
Hi proplend , I tried Autolend for the first time today. I didn't manage to get a slice, which I assume is a case of me being too far down the queue on a relatively small loan. That seems fair enough, but I have some questions that I couldn't find answers for. Thought I would post them here as others may be interested in the answers: 1) If I switch Autolend off, perhaps to avoid a loan that I don't want, and then switch it back on again, does this put me back at the end of the queue for the next loan? 2) At what point do i know that my Autolend was unsuccessful? I would have tried for a slice of the B tranche today had I known for sure that I was unsuccessful on the Autolend A tranche before 12:00, but didn't want to end up with double my limit being invested in a single loan. 3) Are there any plans to allow Autolend on B and C tranches in the future?
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Post by proplend on Sept 16, 2019 16:08:14 GMT
Hi proplend , I tried Autolend for the first time today. I didn't manage to get a slice, which I assume is a case of me being too far down the queue on a relatively small loan. That seems fair enough, but I have some questions that I couldn't find answers for. Thought I would post them here as others may be interested in the answers: 1) If I switch Autolend off, perhaps to avoid a loan that I don't want, and then switch it back on again, does this put me back at the end of the queue for the next loan? 2) At what point do i know that my Autolend was unsuccessful? I would have tried for a slice of the B tranche today had I known for sure that I was unsuccessful on the Autolend A tranche before 12:00, but didn't want to end up with double my limit being invested in a single loan. 3) Are there any plans to allow Autolend on B and C tranches in the future? I'm sorry to hear that you were unsuccessful for the loan today Ace. This was a particularly small, relatively high rate loan and unusually not everyone that enabled Auto-Lend got an allocation of Tranche A. This may have been one of your reasons for trying the facility for the first time but unfortunately not even Auto-Lend can guarantee participation where demand outstrips supply quite so much. To be as fair as possibile, our Auto-Lend queue picks up from the point it left off from for the previous loan funded (so it doesn't always start from the same position). As a new Auto-Lender you don't automatically get put to the back of the queue, but it sounds like you were unfortunate with where the queue started on this occassion. Hopefully it will be some consolation that you will be ahead of those who received an allocation this time, for the next loan in Funding (later this week) Notification emails go out to those that have received an allocation normally around 11:30 - well before the midday manual investment start time. The other way to tell is that the funds you'd earmarked for Auto-Lend will still be showing as available funds rather than 'Waiting to close' (where it has been allocated but the loan has not drawn down). We don't have any plans to add Tranches B and C to Auto-Lend - this will remain manual invest only for the foreseeable future. I hope this helps and this initial experience doesn't put you off trying Auto-Lend again. Richard
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sapphire
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Post by sapphire on Jun 2, 2020 8:11:27 GMT
Whilst a new loan (M****** Hotel) is being launched today, part of Tranche A from the previous one is still available. If Autolend is switched on today (for requesting allocation in the new loan), is there a possibility of being allocated a portion from the earlier one? (Earlier one is not of interest, so didn't request when launched).
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eeyore
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Post by eeyore on Jun 2, 2020 10:52:23 GMT
Whilst a new loan (M****** Hotel) is being launched today, part of Tranche A from the previous one is still available. If Autolend is switched on today (for requesting allocation in the new loan), is there a possibility of being allocated a portion from the earlier one? (Earlier one is not of interest, so didn't request when launched). As I understand it, all you need do is to set your own personal parameters for AutoLend, specifically set AutoLend to select only Primary loans and de-select the option for Secondary (the Proplend Loan Exchange). These AutoLend options appeared only last year; the old-fashioned method was to switch-on AutoLend before 11:00 to allow AutoLend to select new Primary loans and switch-off before 15:00 when AutoLend would start to select Secondary loans from the available Loan Exchange. PS: The M**** loan (PLL0939) on offer today is NOT a refinance of the M**** loan currently available on the PLE - two separate borrowers! In any case, loans within one(?) month of completion can't be offered on the PLE.
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sapphire
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Post by sapphire on Jun 2, 2020 11:16:09 GMT
Whilst a new loan (M****** Hotel) is being launched today, part of Tranche A from the previous one is still available. If Autolend is switched on today (for requesting allocation in the new loan), is there a possibility of being allocated a portion from the earlier one? (Earlier one is not of interest, so didn't request when launched). As I understand it, all you need do is to set your own personal parameters for AutoLend, specifically set AutoLend to select only Primary loans and de-select the option for Secondary (the Proplend Loan Exchange). These AutoLend options appeared only last year; the old-fashioned method was to switch-on AutoLend before 11:00 to allow AutoLend to select new Primary loans and switch-off before 15:00 when AutoLend would start to select Secondary loans from the available Loan Exchange. PS: The M**** loan (PLL0939) on offer today is NOT a refinance of the M**** loan currently available on the PLE - two separate borrowers! In any case, loans within one(?) month of completion can't be offered on the PLE.Whilst the Autolend parameters do offer some selection criteria, the options offered are insufficient to be able to specify that only the loan launched today is of interest. (Both loans are "Primary" and not exceeding 3 years) I did have a go and fortunately was only allocated a slice from today's loan, so PL's algorithm is sufficiently intelligent in this regard!
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eeyore
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Post by eeyore on Jun 2, 2020 13:22:00 GMT
As I understand it, all you need do is to set your own personal parameters for AutoLend, specifically set AutoLend to select only Primary loans and de-select the option for Secondary (the Proplend Loan Exchange). These AutoLend options appeared only last year; the old-fashioned method was to switch-on AutoLend before 11:00 to allow AutoLend to select new Primary loans and switch-off before 15:00 when AutoLend would start to select Secondary loans from the available Loan Exchange. PS: The M**** loan (PLL0939) on offer today is NOT a refinance of the M**** loan currently available on the PLE - two separate borrowers! In any case, loans within one(?) month of completion can't be offered on the PLE.Whilst the Autolend parameters do offer some selection criteria, the options offered are insufficient to be able to specify that only the loan launched today is of interest. (Both loans are "Primary" and not exceeding 3 years) I did have a go and fortunately was only allocated a slice from today's loan, so PL's algorithm is sufficiently intelligent in this regard! Sorry, I misunderstood what you meant by "the earlier one" - I thought you meant the original loan which today's loan is refinancing rather than the loan launched last week which has yet to be filled. The problem of having two or more primary loans available simultaneously, one of which you do not wish to invest in, has been raised before. I've been assured by Proplend that AutoLend is set-up to ignore older loans on the day when a new loan is launched (or perhaps give precedence to later loans if allocating more than £1000). It worked for me a few months ago and it looks like it worked for you too! But still not as clearly targetted as having an AutoLend facility locked to each individual loan (a sort of reservation facility which might also allow Proplend to set the 24-hour limits to bids more accurately). The current system might have "problems" if Proplend were ever to launch two loans on one day!
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