delboy
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Post by delboy on Feb 27, 2019 21:34:00 GMT
About 2-3 months ago it took around a day to get sold. I put in a request on the 8th feb. Still waiting. :S if loans go late while in the sale queue, but catch up with the deficit before sold - they are still completely taken out of the queue for some reason. I have a few pieces that i now have to put in the queue and wait all over again.  Same happened to me, which is even more frustrating if you’re transferring out of an IFISA, so either wait a further 3 weeks or lose that element of your tax free allowance.
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mikeh
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Post by mikeh on Feb 28, 2019 0:02:58 GMT
About 2-3 months ago it took around a day to get sold. I put in a request on the 8th feb. Still waiting. :S Just for anyone wondering, it sold out today. Took just under 3 weeks. Side note - if loans go late while in the sale queue, but catch up with the deficit before sold - they are still completely taken out of the queue for some reason. I have a few pieces that i now have to put in the queue and wait all over again. I think I put mine up for sale on the 10th or thereabouts. So hopefully good news in a day or two.
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daveb
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Post by daveb on Feb 28, 2019 16:29:33 GMT
Yes I was wondering if the presence of some late or otherwise problematic loans in the sale queue messes up the whole sale. I just cancelled my sale and immediately checked what I could sell and it was a slightly smaller amount. Did the dud loans stall the whole thing?
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Stonk
Stonking
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Post by Stonk on Mar 1, 2019 10:22:39 GMT
Did the dud loans stall the whole thing?
No. By cancelling and restarting, you put yourself at the back of the queue again.
I recently did a sale. At the point when I opted to sell, the website calculated the estimated value, i.e., sellable parts plus accrued interest. Whenever I visited the Sell page during the following 2 weeks, that was the number it displayed -- it never changed from the original calculation. If I had cancelled and restarted, the number would have been different (maybe more, maybe less).
While queueing, one of my loans was downgraded and hence not eligible for sale, but the figure on the Sell page still did not change. One and a bit days later my sale went through, excluding the downgraded loan. The loan turning bad did not impede the sale process.
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benaj
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Post by benaj on Mar 1, 2019 10:48:05 GMT
Did the dud loans stall the whole thing? No. By cancelling and restarting, you put yourself at the back of the queue again. I recently did a sale. At the point when I opted to sell, the website calculated the estimated value, i.e., sellable parts plus accrued interest. Whenever I visited the Sell page during the following 2 weeks, that was the number it displayed -- it never changed from the original calculation. If I had cancelled and restarted, the number would have been different (maybe more, maybe less).
While queueing, one of my loans was downgraded and hence not eligible for sale, but the figure on the Sell page still did not change. One and a bit days later my sale went through, excluding the downgraded loan. The loan turning bad did not impede the sale process.
This is a deja vu. At least FC does not cancel the selling request after a period of time. Zopa messed up my loan sale in early 2018. Loan sale wasn't completed within 20 working days (just call it a month), managed selling some of them and some other loans became stuck. The sale process was eventually stopped and I had to keep making selling request afterwards, it was annoying.
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mikeh
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Post by mikeh on Mar 2, 2019 21:00:38 GMT
Just for anyone wondering, it sold out today. Took just under 3 weeks. Side note - if loans go late while in the sale queue, but catch up with the deficit before sold - they are still completely taken out of the queue for some reason. I have a few pieces that i now have to put in the queue and wait all over again. I think I put mine up for sale on the 10th or thereabouts. So hopefully good news in a day or two. All sold today. Confirms the queue is around 20 days.
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Stonk
Stonking
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Post by Stonk on Mar 3, 2019 13:00:24 GMT
I think I put mine up for sale on the 10th or thereabouts. So hopefully good news in a day or two. All sold today. Confirms the queue is around 20 days.
It's a shame that "FCExiteer" is so unpronouncable.
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blender
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Post by blender on Mar 3, 2019 18:40:42 GMT
All sold today. Confirms the queue is around 20 days.
It's a shame that "FCExiteer" is so unpronouncable.
FeCkseteer is fine.
For those who have not seen it, the pop-up says:-
'Stay in the queue to sell your loans
Selling times can fluctuate due to changes in demand from investors looking to buy and sell loans. You may find that it takes a longer or shorter time to sell than you have previously experienced.
Our selling tool works on a first-come first-served basis, so cancelling a sale and starting again will put you to the back of the queue. To sell your loans as fast as possible, please keep them in the queue.'
To which I say
'Sell my loans to avoid bad PR
Not selling investor's loans in a reasonable timescale can cause increasing levels of irritation. The longer you take, the more displeasure will be expressed in posts such as these, and elsewhere.'
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Post by befuddled on Mar 3, 2019 21:25:26 GMT
-as above - I am expressing displeasure - been about 2 weeks now, so hoping something happens soon, but the opacity of the process is very annoying
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Post by poptart on Mar 3, 2019 23:35:15 GMT
There's also a bug in the selling process somewhere:
I put my last two live loan parts up for a sale a couple of weeks ago.
At first, they appeared as status "FOR SALE" in the portfolio listing as expected.
Now they are showing as "Live" again. (Although the "Sell" tab still shows me as selling their combined value.)
So, I'm not sure whether my loans are actually being offered for sale or not.
I know that some time ago there was an issue with loans "falling out of sale" when they went through the "processing" state. I do hope that's not still happening.
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ashtondav
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Post by ashtondav on Mar 4, 2019 8:35:33 GMT
-as above - I am expressing displeasure - been about 2 weeks now, so hoping something happens soon, but the opacity of the process is very annoying Maybe irritating but not opaque. If there’s buyers you sell, if not you don’t. Simples!
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p2pete
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Post by p2pete on Mar 4, 2019 9:18:59 GMT
There's also a bug in the selling process somewhere: I put my last two live loan parts up for a sale a couple of weeks ago. At first, they appeared as status "FOR SALE" in the portfolio listing as expected. Now they are showing as "Live" again. (Although the "Sell" tab still shows me as selling their combined value.) So, I'm not sure whether my loans are actually being offered for sale or not. Exactly the same thing happened to me so I also can't tell if my loan is being offered for sale or not.
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corto
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Post by corto on Mar 4, 2019 14:32:39 GMT
Looks like FC is completely freezing
Selling takes 20 days
Buying 3.5
And as by today 15% of my loans are in Processing
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Post by paddockman on Mar 4, 2019 20:18:26 GMT
I am new to this board and am a fairly unsophisticated investor. I have withdrawn over the years with the process taking one to four working days.
I now have about £13k with FC. I started the selling process for £1k eight days ago and have learned, unhappily, that it might take three weeks for my money to be available.
After some thought I've decided to close my account. If I was to sell in chunks of, say, £3k would it be more likely to sell without undue problems than if I sell the whole lot in one go ?
I appreciate I've got to wait till the existing withdrawal has to be completed before I can think about the next step.
Any advice would be much appreciated. Thanks in advance.
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benaj
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Post by benaj on Mar 4, 2019 20:35:22 GMT
I am new to this board and am a fairly unsophisticated investor. I have withdrawn over the years with the process taking one to four working days. I now have about £13k with FC. I started the selling process for £1k eight days ago and have learned, unhappily, that it might take three weeks for my money to be available. After some thought I've decided to close my account. If I was to sell in chunks of, say, £3k would it be more likely to sell without undue problems than if I sell the whole lot in one go ? I appreciate I've got to wait till the existing withdrawal has to be completed before I can think about the next step. Any advice would be much appreciated. Thanks in advance. Nope, because your sale is in the queue. if you cancel it, it starts from the back of the queue. I am selling £44, it’s been 2 weeks, but I think it will be sold within good time. Even a few weeks is not too bad is better than nothing sold.
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