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Post by Badly Drawn Stickman on Oct 31, 2018 10:48:38 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate.
I went for a dramatic thread title, as I have noticed they are currently in fashion.
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SteveT
Member of DD Central
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Post by SteveT on Oct 31, 2018 13:12:08 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. What borrower would ever want an FC loan of £9.99 or less? 
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dandy
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Post by dandy on Oct 31, 2018 13:25:10 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. What borrower would ever want an FC loan of £9.99 or less? Min loan part used to be £20. Now it is £10. Nothing to do with borrowers.
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Post by Badly Drawn Stickman on Oct 31, 2018 13:59:10 GMT
What borrower would ever want an FC loan of £9.99 or less? Min loan part used to be £20. Now it is £10. Nothing to do with borrowers. I'm as sure as I can be that SteveT knew that, I did leave enough room for misinterpretation and he filled that space. I just find it an interesting alteration, it would suggest they felt there was a need to change the minimum. I may well be wrong but as far as I can recall during my time on FC £20 was always the minimum. Maybe they were responding to some feedback from somewhere.
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Post by df on Oct 31, 2018 13:59:13 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. I went for a dramatic thread title, as I have noticed they are currently in fashion. Rebs do this. I always wished FC would do the same. For small investors it is better to have 1000 £10 loans than 500 £20 and FC has enough loans to accommodate this. Not relevant for me any more as I'm exiting FC, but it could be good if they introduced it in the past.
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blender
Member of DD Central
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Post by blender on Oct 31, 2018 14:06:51 GMT
Min loan part used to be £20. Now it is £10. Nothing to do with borrowers. I'm as sure as I can be that SteveT knew that, I did leave enough room for misinterpretation and he filled that space. I just find it an interesting alteration, it would suggest they felt there was a need to change the minimum. I may well be wrong but as far as I can recall during my time on FC £20 was always the minimum. Maybe they were responding to some feedback from somewhere. Just for once I resisted responding to one of your deliberate mistakes. It has been £20 since at least 2012, and I think forever. My guess is that they are looking for new sources of funds to grow the loan book, Pocket-money Parts, PmP.
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blender
Member of DD Central
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Post by blender on Oct 31, 2018 14:29:05 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. I went for a dramatic thread title, as I have noticed they are currently in fashion. Not relevant for me any more as I'm exiting FC, but it could be good if they introduced it in the past. I can remember, upon first joining in 2012, when the earth was still cooling, that the minimum part was £20 and we were encouraged to spread our money over at least twenty loans using Autobid. Quite swiftly that afternoon, Autobid, then believed to be a trained monkey with an abacus in a box (nicely coloured), blew most of my £10k on dubious £400-£500 parts at par on the SM, and bet the rest at poor rates on reverse auctions which would take up to two weeks to fill. Soon after, on the new FC forum, in the evenings you could chat with Samir about his hopes and dreams, until something bad happened. Those were the days!
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Post by Badly Drawn Stickman on Oct 31, 2018 14:52:18 GMT
I'm as sure as I can be that SteveT knew that, I did leave enough room for misinterpretation and he filled that space. I just find it an interesting alteration, it would suggest they felt there was a need to change the minimum. I may well be wrong but as far as I can recall during my time on FC £20 was always the minimum. Maybe they were responding to some feedback from somewhere. Just for once I resisted responding to one of your deliberate mistakes. It has been £20 since at least 2012, and I think forever. My guess is that they are looking for new sources of funds to grow the loan book, Pocket-money Parts, PmP.
If I didn't contrive a few mistakes I would be the 'Perfect Idiot' and that would have to damage my street cred. It is however comforting to know that when you miss one others are available to step up to the plate. Its not like FC to make unannounced changes and arguably even less like them to make ones that could be welcomed by some.
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Post by Badly Drawn Stickman on Oct 31, 2018 15:02:04 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. I went for a dramatic thread title, as I have noticed they are currently in fashion. Rebs do this. I always wished FC would do the same. For small investors it is better to have 1000 £10 loans than 500 £20 and FC has enough loans to accommodate this. Not relevant for me any more as I'm exiting FC, but it could be good if they introduced it in the past. I am fairly sure it is only up to £2000, then reverts to £20 and then escalates in the same manner as before. Maybe they have a larger base of smaller investors these days and it could be popular.
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Post by df on Oct 31, 2018 15:03:21 GMT
Min loan part used to be £20. Now it is £10. Nothing to do with borrowers. I'm as sure as I can be that SteveT knew that, I did leave enough room for misinterpretation and he filled that space. I just find it an interesting alteration, it would suggest they felt there was a need to change the minimum. I may well be wrong but as far as I can recall during my time on FC £20 was always the minimum. Maybe they were responding to some feedback from somewhere.Coincidentally, I was sent feedback form a while ago and responded. I've suggested reducing min amount to £10 and to improve their DD 
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Post by df on Oct 31, 2018 15:07:22 GMT
Rebs do this. I always wished FC would do the same. For small investors it is better to have 1000 £10 loans than 500 £20 and FC has enough loans to accommodate this. Not relevant for me any more as I'm exiting FC, but it could be good if they introduced it in the past. I am fairly sure it is only up to £2000, then reverts to £20 and then escalates in the same manner as before. Maybe they have a larger base of smaller investors these days and it could be popular. That makes sense. At least those who invests 2k and less won't be overexposed as they are now.
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blender
Member of DD Central
Posts: 5,719
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Post by blender on Oct 31, 2018 15:33:12 GMT
Just for once I resisted responding to one of your deliberate mistakes. It has been £20 since at least 2012, and I think forever. My guess is that they are looking for new sources of funds to grow the loan book, Pocket-money Parts, PmP.
If I didn't contrive a few mistakes I would be the 'Perfect Idiot' and that would have to damage my street cred. It is however comforting to know that when you miss one others are available to step up to the plate. Its not like FC to make unannounced changes and arguably even less like them to make ones that could be welcomed by some. I didn't miss it - just thought that it might be a trap. Like whether the 'Perfect Idiot' makes no mistakes or 100% mistakes could also be a trap. P2P is getting more risky. There are reasons why FC might not wish to publicise. The reason for change is clearly to make it easier to diversify with a small investment, but the public discussion would beg the question of what is the smallest investment which is safe to make? At what level is it currently unsafe, below 200 x £20 = £4000? Now reduced to £2000. They want the new consumer-lenders to put in what they can afford and to grow it, rather than indicating any minimum safe investment, which might scare the horses. This is a change to the fundamental engine, and so they have probably spent some considerable time and money on it. Project Limbo, perhaps. How low can they go before the final month's interest on an 60 month amortising loan part at 4% becomes invisible?
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Post by grahamreeds on Oct 31, 2018 20:19:47 GMT
*What Rich Investors DON'T KNOW about FC*
There fixed that for you.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Oct 31, 2018 22:24:04 GMT
I don't care what I don't know.
What I do know is they have my £5K in the London (A ratated) loans (no matter what size parts).
I would like it back please.
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benaj
Member of DD Central
N/A
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Post by benaj on Dec 3, 2018 17:16:22 GMT
Seems they have recently introduced a new minimum loan size of £10 to help small investors get greater diversification. Now that's just plain considerate. I went for a dramatic thread title, as I have noticed they are currently in fashion. Well, just tested out the new Matching Algorithm. There are advantages and disadvantages with the new minimum size for "small investors". The obvious advantage is better diversification from £10. The disadvantage for new investors with small investment, it takes even longer to fill 200 loans, slightly longer cash drag initially.
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