|
Post by alexp2p on Nov 5, 2020 11:11:22 GMT
Any opinions about the new loan S********* C****** H*** which will go live on Frtday?
Borrower is experienced with property and long participating in the care business
Does anybody see potential unexpected problems with this loan?
|
|
|
Post by uksoul on Nov 5, 2020 12:19:44 GMT
Seems a solid loan investment, no issues regarding loan repayment with its' occupancy record, gets great reviews online for it's service. 6mths interest reserve is reassuring. I'm going for a slice of the B tranche.
|
|
|
Post by Ace on Nov 5, 2020 13:06:23 GMT
Seems a solid loan investment, no issues regarding loan repayment with its' occupancy record, gets great reviews online for it's service. 6mths interest reserve is reassuring. I'm going for a slice of the B tranche. Good luck with that. I've transferred some finds in to try to get a slice of the B tranche, but don't hold out much hope. My fingers haven't been fast enough for recent B tranches and this one is pretty small. It's about time they introduced auto-invest for B and C tranches IMO.
|
|
|
Post by uksoul on Nov 5, 2020 13:25:11 GMT
Seems a solid loan investment, no issues regarding loan repayment with its' occupancy record, gets great reviews online for it's service. 6mths interest reserve is reassuring. I'm going for a slice of the B tranche. Good luck with that. I've transferred some finds in to try to get a slice of the B tranche, but don't hold out much hope. My fingers haven't been fast enough for recent B tranches and this one is pretty small. It's about time they introduced auto-invest for B and C tranches IMO. Yeah the B tranche likely to go super fast and the screen often freezes during the process. I think Proplend said the size of most B + C tranches is too small for auto-invest. They could reduce the B + C investment option to £500. Try some finger strengthening exercises tonight, may give you an edge..
|
|
eeyore
Member of DD Central
Posts: 744
Likes: 734
|
Post by eeyore on Nov 6, 2020 11:20:54 GMT
It's gone 11:00, so now we'll see what AutoLend does with TrancheA - with such a small amount on offer, I'm expecting many of us to be disappointed. The similarly-sized TrancheA for the previous loan (T*** HMO) didn't satisfy even the first round of AutoLend - I lost out. I'll be annoyed if the same happens again.
|
|
|
Post by overthehill on Nov 6, 2020 11:33:30 GMT
I complained about this a long time ago, it is such a simple piece of logic to ensure someone who missed out on the previous autolend property gets priority on the next one or the next one. I doubt this is happening but I've no proof it isn't happening. I don't know how many investors are subscribed to autoinvest, it may amount to several properties of small value.
|
|
|
Post by Ace on Nov 6, 2020 12:10:59 GMT
I complained about this a long time ago, it is such a simple piece of logic to ensure someone who missed out on the previous autolend property gets priority on the next one or the next one. I doubt this is happening but I've no proof it isn't happening. I don't know how many investors are subscribed to autoinvest, it may amount to several properties of small value.
I lost out on tranche B again. Cash has now been withdrawn. Not sure I can be bothered to keep transferring funds around for little chance of getting a slice. Think I might give the funds to CrowdProperty instead.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 6, 2020 12:17:56 GMT
Good luck with that. I've transferred some finds in to try to get a slice of the B tranche, but don't hold out much hope. My fingers haven't been fast enough for recent B tranches and this one is pretty small. It's about time they introduced auto-invest for B and C tranches IMO. Yeah the B tranche likely to go super fast and the screen often freezes during the process. I think Proplend said the size of most B + C tranches is too small for auto-invest. They could reduce the B + C investment option to £500. Try some finger strengthening exercises tonight, may give you an edge.. Went in straight at start and only 18K of the 50K in B was displayed available...Other than via a BOT I cant imagine 30K being subscribed before the first display....wondering if around 30K was pre-allocated? This 18K in B went in less than 15 secs! I don't think fastest fingers first does Proplend's customer satisfaction any favours. Definitely need a better customer friendly and fairer alternative. Didn't get any in Tranche A in Auto lend too so this loan was "too small" even for Tranche A. Don't agree with PL's rationale that "too small" is an appropriate reason for no auto-invest for B & C. With this logic there shouldn't have been Autolend for Tr A too for this loan as it was "too small" even for Tr A !!!
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 6, 2020 12:27:25 GMT
I complained about this a long time ago, it is such a simple piece of logic to ensure someone who missed out on the previous autolend property gets priority on the next one or the next one. I doubt this is happening but I've no proof it isn't happening. I don't know how many investors are subscribed to autoinvest, it may amount to several properties of small value.
I lost out on tranche B again. Cash has now been withdrawn. Not sure I can be bothered to keep transferring funds around for little chance of getting a slice. Think I might give the funds to CrowdProperty instead. I think PL also needs to speed up their 'no fee' withdrawal process. A withdrawal request to PL now before 1pm on a Friday (i.e. well before the '5pm' typical close of business) would still mean that the funds will be credited to the lender's bank account only on Tuesday. A similar 'free' request on a number of other platforms would result in the funds being credited on Monday.
|
|
|
Post by uksoul on Nov 6, 2020 12:31:59 GMT
Yeah the B tranche likely to go super fast and the screen often freezes during the process. I think Proplend said the size of most B + C tranches is too small for auto-invest. They could reduce the B + C investment option to £500. Try some finger strengthening exercises tonight, may give you an edge.. Went it straight at start and only 18K of the 50K in B was displayed available...Other than via a BOT I cant imagine 30K being subscribed at the first display....wondering if around 30K was pre-allocated? This 18K in B went in less than 15 secs! I don't think fastest fingers first does Proplend's customer satisfaction any favours. Definitely need a better customer friendly and fairer alternative. Didn't get any in Tranche A in Auto lend too so this loan was "too small" even for Tranche A. Don't agree with PL's rationale that "too small" is an appropriate reason for no auto-invest for B & C. With this logic there shouldn't have been Autolend for Tr A too for this loan as it was "too small" even for Tr A !!! I agree, part of Tranche B pre allocated as it was over half empty on the dot of 12. I missed out on B, did not bother with A as i knew it would be pointless. I think with small loans there is a strong case now of lowering investment to £500 in all tranches. There are a few more small loans in pending
|
|
|
Post by overthehill on Nov 6, 2020 12:54:12 GMT
I missed out on autolend and it has happened too often for there to be any kind of fair queuing system in place. I've told them before, they need to do more to attract new investors and more investment from existing investors, this isn't the way.
There is a massive retail loan in the pipeline !!
The software or as some people call it the platform isn't as good as Crowdproperty when it comes to new loans. Fastest finger always wins at CP, it's a fair race when the starter gun goes off. It doesn't work that way for Proplend, it doesn't scale well, the user sessions behave like they have different priorities and the locking is less sophisticated so only a few get a shot at the prize. It was probably just one or two people who snapped up all of the Tranche B.
|
|
eeyore
Member of DD Central
Posts: 744
Likes: 734
|
Post by eeyore on Nov 6, 2020 13:05:40 GMT
I complained about this a long time ago, it is such a simple piece of logic to ensure someone who missed out on the previous autolend property gets priority on the next one or the next one. I doubt this is happening but I've no proof it isn't happening. I don't know how many investors are subscribed to autoinvest, it may amount to several properties of small value. I can report that my £1k Autolend offer was successful for this loan after the failure of my Autolend offer for the last loan, so Proplend's mechanism to start the Autolend allocation round at the point where the last loan stopped may be working. The obvious solution to the problem of oversubscribed loans is to reduce the size of each individual lender loan from £1k to some much smaller value (and introduce bidding limits in TrancheB&C), but that would mean multiplying the number of lender loans leading to a greater administration load and associated costs. Having oversubscribed loans and lenders compete for loans is a success for Proplend - what's the incentive for them to change their policy?
|
|
eeyore
Member of DD Central
Posts: 744
Likes: 734
|
Post by eeyore on Nov 6, 2020 13:24:28 GMT
I missed out on autolend and it has happened too often for there to be any kind of fair queuing system in place. I've told them before, they need to do more to attract new investors and more investment from existing investors, this isn't the way.
There is a massive retail loan in the pipeline !!
The software or as some people call it the platform isn't as good as Crowdproperty when it comes to new loans. Fastest finger always wins at CP, it's a fair race when the starter gun goes off. It doesn't work that way for Proplend, it doesn't scale well, the user sessions behave like they have different priorities and the locking is less sophisticated so only a few get a shot at the prize. It was probably just one or two people who snapped up all of the Tranche B. Be careful what you wish for: the more investors there are, the less chance there'll be for existing investors to get a slice of new loans! Ideally, if there were more borrowers wanting more loans from Proplend, then yes, but currently there's more demand for new desirable loans coming from lenders than Proplend can supply.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 7, 2020 7:55:54 GMT
I complained about this a long time ago, it is such a simple piece of logic to ensure someone who missed out on the previous autolend property gets priority on the next one or the next one. I doubt this is happening but I've no proof it isn't happening. I don't know how many investors are subscribed to autoinvest, it may amount to several properties of small value. I can report that my £1k Autolend offer was successful for this loan after the failure of my Autolend offer for the last loan, so Proplend's mechanism to start the Autolend allocation round at the point where the last loan stopped may be working. The obvious solution to the problem of oversubscribed loans is to reduce the size of each individual lender loan from £1k to some much smaller value (and introduce bidding limits in TrancheB&C), but that would mean multiplying the number of lender loans leading to a greater administration load and associated costs. Having oversubscribed loans and lenders compete for loans is a success for Proplend - what's the incentive for them to change their policy? "... what's the incentive for them to change their policy?"Whilst there does not appear to be an immediate incentive for PL to change their current policy and approach, I think ignoring customer dissatisfaction and a feeling of unfairness with how things are, may not abode well for the long term. Following a blinkered approach, focussed on short term gains, is not a good way to build long term customer satisfaction, loyalty and retention. History is replete with examples where businesses who adopted a short term focused approach, did so at their peril and became extinct when a new smarter/better competitor came along and could easily grab their existing (unhappy and so disloyal) customer base.
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Nov 10, 2020 2:27:08 GMT
The B tranche had a cap of £1k per account on this loan, so 50 accounts took a piece. The cap for each tranche is given in the email announcing the loan. The fact that £30k appeared to have gone when the page loaded just reflects the fact that many people were trying to bid. I was lucky on B (assuming I don't lose the money ), but got nothing on autolend. The system does maintain a queue so that those who missed out on autolend in this loan will be further up the queue for the next loan, and those who did succeed on autolend will not get another allocation until everyone else has had their turn. I agree it would be better for Autolend to spread the loan more thinly, at least offer £500 parts, maybe smaller though it would require some work on the platform. Personally I don't think Autolend is suitable for B and C tranches, and even if it was available it would be a rare pot-luck on popular small loans with £1k slices.
|
|