morris
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Post by morris on Nov 10, 2020 7:52:44 GMT
I work on the assumption that the longer new money has been awaiting auto-investment the further up the queue it is. This seems to work for me.
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Post by Ace on Nov 10, 2020 8:21:53 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. Thanks. That explains why I missed out, I was trying to lend £2k. I totally forgot about the cap.
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Post by skidrow on Nov 10, 2020 9:23:35 GMT
I work on the assumption that the longer new money has been awaiting auto-investment the further up the queue it is. This seems to work for me. I think you're right. If you attempt to bid for tranche B for example, then you must switch off autolend which puts you to the back of the queue once it's switched back on.
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Post by Ace on Nov 10, 2020 9:30:24 GMT
I work on the assumption that the longer new money has been awaiting auto-investment the further up the queue it is. This seems to work for me. I think you're right. If you attempt to bid for tranche B for example, then you must switch off autolend which puts you to the back of the queue once it's switched back on. I don't think that's true. The autolend cycles round in investor ID number order. It starts at the number after the last one that got a slice in the previous loan. So, switching autolend off and on will have no effect on your place in the queue.
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eeyore
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Post by eeyore on Nov 10, 2020 10:31:35 GMT
I think you're right. If you attempt to bid for tranche B for example, then you must switch off autolend which puts you to the back of the queue once it's switched back on. I don't think that's true. The autolend cycles round in investor ID number order. It starts at the number after the last one that got a slice in the previous loan. So, switching autolend off and on will have no effect on your place in the queue. That's also my interpretation of what Proplend claimed was how the system operates. My worry with this arrangement is how it might cause aggravation is when there is a series of loans with a mixture of large and small TrancheA loans where the small loans are oversubscribed so that some lenders get nothing. Let's imagine this scenario: Two lenders: X and Y, both trying to invest £1000 in each TrancheA loan. - Loan #1 appears but is too small to fulfill all lenders: Lender X gets £1000; Lender Y gets nothing. Lender Y is now higher in the Autolend queue for the next loan.
- Loan #2 appears with a large TrancheA (or is unattractive) so Autolend can allocate loans to everyone who wants a slice, so each lender's position in the Autolend queue is irrelevant. Where the Autolend halts in the lender queue is now random - Lender X may now be ahead of Lender Y on the queue.
- Loan #3 appears with another attractive but small TrancheA: Lender X gets another £1000 slice but Lender Y fails again and is exceedingly annoyed!
Looking at the recent Proplend pipeline, there's a batch of small loans and a great big loan on a retail property that may not be attractive - anyone who fails to get an Autolend slice in the loan immediately before the retail loan may not be prioritised and fail again in a following small loan.
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Post by Ace on Nov 10, 2020 12:08:18 GMT
I don't think that's true. The autolend cycles round in investor ID number order. It starts at the number after the last one that got a slice in the previous loan. So, switching autolend off and on will have no effect on your place in the queue. That's also my interpretation of what Proplend claimed was how the system operates. My worry with this arrangement is how it might cause aggravation is when there is a series of loans with a mixture of large and small TrancheA loans where the small loans are oversubscribed so that some lenders get nothing. Let's imagine this scenario: Two lenders: X and Y, both trying to invest £1000 in each TrancheA loan. - Loan #1 appears but is too small to fulfill all lenders: Lender X gets £1000; Lender Y gets nothing. Lender Y is now higher in the Autolend queue for the next loan.
- Loan #2 appears with a large TrancheA (or is unattractive) so Autolend can allocate loans to everyone who wants a slice, so each lender's position in the Autolend queue is irrelevant. Where the Autolend halts in the lender queue is now random - Lender X may now be ahead of Lender Y on the queue.
- Loan #3 appears with another attractive but small TrancheA: Lender X gets another £1000 slice but Lender Y fails again and is exceedingly annoyed!
Looking at the recent Proplend pipeline, there's a batch of small loans and a great big loan on a retail property that may not be attractive - anyone who fails to get an Autolend slice in the loan immediately before the retail loan may not be prioritised and fail again in a following small loan. I think you're right, that scenario could happen. However, your luck should average out over time. Autolend isn't really designed for those that like to pick and choose. It's better suited to those that want to accept the same slice in the safest tranches of as many loans as possibly without having to bother with doing any DD on individual loans.
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sapphire
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Post by sapphire on Nov 10, 2020 12:16:05 GMT
That's also my interpretation of what Proplend claimed was how the system operates. My worry with this arrangement is how it might cause aggravation is when there is a series of loans with a mixture of large and small TrancheA loans where the small loans are oversubscribed so that some lenders get nothing. Let's imagine this scenario: Two lenders: X and Y, both trying to invest £1000 in each TrancheA loan. - Loan #1 appears but is too small to fulfill all lenders: Lender X gets £1000; Lender Y gets nothing. Lender Y is now higher in the Autolend queue for the next loan.
- Loan #2 appears with a large TrancheA (or is unattractive) so Autolend can allocate loans to everyone who wants a slice, so each lender's position in the Autolend queue is irrelevant. Where the Autolend halts in the lender queue is now random - Lender X may now be ahead of Lender Y on the queue.
- Loan #3 appears with another attractive but small TrancheA: Lender X gets another £1000 slice but Lender Y fails again and is exceedingly annoyed!
Looking at the recent Proplend pipeline, there's a batch of small loans and a great big loan on a retail property that may not be attractive - anyone who fails to get an Autolend slice in the loan immediately before the retail loan may not be prioritised and fail again in a following small loan. I think you're right, that scenario could happen. However, your luck should average out over time. Autolend isn't really designed for those that like to pick and choose. It's better suited to those that want to accept the same slice in the safest tranches of as many loans as possibly without having to bother with doing any DD on individual loans. I am afraid I fall in the 'pick and choose' category so could (disproportionately) lose out over the long run. There probably is a more sophisticated system PL could adopt to address this. The question is do they have the inclination (& budget!) to invest the necessary resources? Not holding my breath!
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bababill
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Post by bababill on Nov 12, 2020 23:34:28 GMT
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. I disagree... It will end up getting to a situation whereby we start receiving paltry amounts of £12.000008 per loan. Leave it at £1k or nothing.
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metoo
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Post by metoo on Nov 12, 2020 23:46:20 GMT
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. I disagree... It will end up getting to a situation whereby we start receiving paltry amounts of £12.000008 per loan. Leave it at £1k or nothing. It won’t get that low. In any case Autolend could cycle in amounts of £100 or £250, £500, whatever. With a small loan, it’s impossible for everyone to get £1000. As the platform grows, you could get to a point where you are only getting £1k of 1 in 10 of the smaller loans you have done due diligence on and like. I'd rather have a piece of each, then I can see the updates and know whether I'd want to buy more if it comes available. Yes, of course I'd like more in the loan, but I still prefer to spread my investments across the loans I like than get an occasional allocation in the odd one, and have to rely on big loans to get invested. I suppose you could just leave Autolend on and do your DD afterwards, but your money is sitting around earning nothing, and you then have to pay a fee to exit the ones you dislike. On Crowd Property, Autolend scales in proportion to the total investment in the account, with the ability to set it lower.
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ton27
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Post by ton27 on Nov 13, 2020 13:22:09 GMT
I also prefer the way CP does it as I would rather have a more diversified portfolio.
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Post by Ace on Nov 13, 2020 13:33:22 GMT
No problem getting a slice of tranche B in today's loan. There's still £4k available 90 minutes after it went live.
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Post by overthehill on Dec 3, 2021 12:40:12 GMT
Partial repayment of 41% in Tranche B.
Need to wait for the email explanation as I thought partial repayments were made to Tranche A's.
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sapphire
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Post by sapphire on Dec 3, 2021 12:56:48 GMT
Partial repayment of 41% in Tranche B.
Need to wait for the email explanation as I thought partial repayments were made to Tranche A's.
I have received a 41% repayment in each of Tranches A & B. Look forward to the email explanation.
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Post by overthehill on Dec 3, 2021 13:33:28 GMT
Partial repayment of 41% in Tranche B.
Need to wait for the email explanation as I thought partial repayments were made to Tranche A's.
I have received a 41% repayment in each of Tranches A & B. Look forward to the email explanation.
I'm guessing they have changed the T+C's. I can only think that PL thought applying the whole repayment to Tranche A was unfair given the risk profile of all tranches reduced but a bigger percentage of the loan was now with Tranche B + C lenders.
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Post by uksoul on Dec 3, 2021 14:28:09 GMT
Partial repayment of 41% in Tranche B.
Need to wait for the email explanation as I thought partial repayments were made to Tranche A's.
I had a Tranche B partial repayment several months ago
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), 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.