bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Mar 19, 2019 11:29:36 GMT
Maybe irritating but not opaque. If there’s buyers you sell, if not you don’t. Simples! By "opaque" I meant having no visibility about the size of queue, or where one stands in it, I can't even find the actual date I clicked to sell out, I know it was about 4 weeks ago now ...(or am I missing something) FC have added information on the size of the queue to the Sell page. Sales completed a week or so ago took an average of 23 days.
|
|
|
|
Post by Ace on Mar 19, 2019 15:29:59 GMT
By "opaque" I meant having no visibility about the size of queue, or where one stands in it, I can't even find the actual date I clicked to sell out, I know it was about 4 weeks ago now ...(or am I missing something) FC have added information on the size of the queue to the Sell page. Sales completed a week or so ago took an average of 23 days. Where? Is it only shown after confirming a sale instruction? It wasn't there without that for me.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Mar 19, 2019 15:35:48 GMT
FC have added information on the size of the queue to the Sell page. Sales completed a week or so ago took an average of 23 days. Where? Is it only shown after confirming a sale instruction? It wasn't there without that for me. It is on a pop-up on the side. I have zero to sell, so I didn't confirm anything.
|
|
|
|
Post by Ace on Mar 19, 2019 15:43:26 GMT
Where? Is it only shown after confirming a sale instruction? It wasn't there without that for me. It is on a pop-up on the side. I have zero to sell, so I didn't confirm anything. Thanks, it doesn't appear in my Chrome browser, but does in my Samsung Internet browser (running on android).
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Mar 19, 2019 17:07:34 GMT
MS Edge shows it, too in Windows 10
I also saw a (new to me) advertisement on the entrance page.
On Chrome I am running an Ad-blocker.
|
|
|
|
Post by badinvestor on Mar 19, 2019 18:56:51 GMT
Queue seems to be getting longer: Sell requests made 4th Feb (£5k) and 7th Feb (£300k) took 12 and 14 days respectively. Sell requests made on 16th Feb (£24k) and 21st Feb (£3.5k) have not happened yet. Defaults on one account remain at 0 whilst the other seems to pick up one a week. 16th Feb (£24k) just got to the front of the queue and took about 30 mins to sell after 26 days of queuing. Defaults are steadily growing on both accounts now. 21st of February sale hit the queue earlier today: Sale summary Am ount requested for sale : £3,564.85Amount sold : £180.54 Now only £1,540.16 is available for sale: Hotel California...
|
|
|
|
Post by Ace on Mar 23, 2019 19:40:59 GMT
My sale initiated on the 23rd Feb has completed today (23rd Mar). So sales queue was 28 days.
|
|
|
|
Post by bluehorseshoe on Mar 26, 2019 13:14:48 GMT
The message on the Sell page currently says - "loan parts sold between 13/03/19 and 19/03/19 took on average 26 days to sell." One there for the grammar Nastis  |
|
delboy
Member of DD Central
Posts: 79
Likes: 49
|
Post by delboy on Mar 26, 2019 19:22:09 GMT
Does anybody know how to identify the date on which you put loan parts up for sale? I know roughly by looking at other activity I had going on at around the time on other platforms, but surely there must be a way of establishing this more precisely?
|
|
benaj
Member of DD Central
N/A
Posts: 5,619 
Likes: 1,741
|
Post by benaj on Mar 26, 2019 19:33:29 GMT
You can track down all loan repayment date on "my portfolio"
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Mar 26, 2019 19:52:20 GMT
You can track down all loan repayment date on "my portfolio" As usual I am probably missing something but depending how many loans one has and how their payment dates are distributed across the month that may only get close within a couple of days? Besides: For further confusion, the repayment dates get moved a month forward whether anything was paid or not. That happens even if everything has been put up for grabs. Call FC?
|
|
Stonk
Stonking
Posts: 735
Likes: 658
|
Post by Stonk on Mar 30, 2019 1:00:43 GMT
The message on the Sell page currently says - "loan parts sold between 13/03/19 and 19/03/19 took on average 26 days to sell." One there for the grammar Nastis
Getting longer: it now says "loan parts sold between 20/03/19 and 26/03/19 took on average 28 days to sell".
( I hate to defend FC, but I cannot see a grammar error. The repetition of forms of the verb "sell" is awkward, but they perform two different functions and it is grammatically fine. )
|
|
|
|
Post by 2naphish on Mar 30, 2019 11:21:06 GMT
And yet the money that I have been putting in recently is taking days to loan out and is only going to fund new loans. I suspect that as was suggested earlier in this thread the selling queue gets held up when there is a large loan part waiting to sell.
I put some loans up for sale in early March so that I could move the money into an ISA to use my allowance for this tax year, it doesn't look likely that they will sell in time so FC are off my Xmas card list for this year.
|
|
p2pete
Member of DD Central
Posts: 144
Likes: 142
|
Post by p2pete on Mar 30, 2019 13:38:51 GMT
Now confirmed by FC: " If a loan changes status while listed for sale it will be delisted from the sale request which is you had to relist your sale. I can appreciate that this is frustrating when trying to sell a loan however it is the way the system works..." So, as sale queue increase to weeks, there is an increasing chance that your loan part will go into "processing" state and be dumped off sale. Presumably when sale time reaches one month, it will finally become Hotel California (" You can check out any time you like, but you can never leave") This is what has now happened. I have tried several times to sell out but due to the length of the queue, the loans get delisted and after 30 days the sale process completes but nothing has sold. FC support confirmed that this is how it works and loans get delisted from the queue if a payment occurs before the sale. It looks like we are trapped in FC now until the queue shortens.
|
|
|
|
Post by Ace on Mar 30, 2019 16:37:30 GMT
Now confirmed by FC: " If a loan changes status while listed for sale it will be delisted from the sale request which is you had to relist your sale. I can appreciate that this is frustrating when trying to sell a loan however it is the way the system works..." So, as sale queue increase to weeks, there is an increasing chance that your loan part will go into "processing" state and be dumped off sale. Presumably when sale time reaches one month, it will finally become Hotel California (" You can check out any time you like, but you can never leave") This is what has now happened. I have tried several times to sell out but due to the length of the queue, the loans get delisted and after 30 days the sale process completes but nothing has sold. FC support confirmed that this is how it works and loans get delisted from the queue if a payment occurs before the sale. It looks like we are trapped in FC now until the queue shortens. This wasn't true for me. I put roughly £2k up for sale on 23rd Feb (all that was available to sell in my non-ISA account) and over 97% of that sold on 23rd Mar; exactly one month.
|
|
