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Post by Ace on Nov 17, 2020 21:41:45 GMT
I messaged twice and got no response!! And now nearly 10hrs later it's still only 95%........is this a first for CP??? Its all relative 95% for a vaccine gets people really excited. I suspect the dilemma for CP is that people have got used to loans filling quickly so there may well be nobody left to provide the extra 5% (cancellations may be high as well, it not filling may cause some to look a bit closer than usual). Presumably they need to do something before the next loan launches on Thursday or autobid may get confusing if new funds are added (might just be a problem for me, that one).My bold. I don't think it's a problem as autobid only runs at the time of release (i.e. 10:00AM). Skip-next-project is also cleared immediately after the autobid run, so if they were to attempt another autobid run to fill an existing loan it would get very messy indeed.
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firedog
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Post by firedog on Nov 17, 2020 22:06:33 GMT
I messaged twice and got no response!! And now nearly 10hrs later it's still only 95%........is this a first for CP??? Definitely not - I think the first CP loans took weeks to fill. But it certainly stands out when you look at what was happening earlier this summer when loans were being filled in seconds. CP, though, has always said that this was too fast and they were looking to find a way to slow things down. Not sure this was the approach they had in mind, though...
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Post by Badly Drawn Stickman on Nov 17, 2020 22:10:07 GMT
Its all relative 95% for a vaccine gets people really excited. I suspect the dilemma for CP is that people have got used to loans filling quickly so there may well be nobody left to provide the extra 5% (cancellations may be high as well, it not filling may cause some to look a bit closer than usual). Presumably they need to do something before the next loan launches on Thursday or autobid may get confusing if new funds are added (might just be a problem for me, that one).My bold. I don't think it's a problem as autobid only runs at the time of release (i.e. 10:00AM). Skip-next-project is also cleared immediately after the autobid run, so if they were to attempt another autobid run to fill an existing loan it would get very messy indeed. Clearly this one will have maxed out autbid funds available, and skip would clearly apply. I only had £1 in autobid which I assume it took. On a previous occasion presumably cancellation or slow fill up on a loan caused a second (still under my limit) visit to my autobid for a top up (separate emails). I suspect if I added money prior to the next loan it would take some, up to £50 in this case. Easily cured by cancelling if it did but messy. Then again maybe it would not (hence brackets on previous post). I'm sure the investing fairies will fill it overnight and the potential problem will never occur.
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firedog
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Post by firedog on Nov 18, 2020 7:37:45 GMT
Nearly there now, after almost 24 hours. CP has mentioned institutional investors a bit more recently. Perhaps they've come along now.
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Post by overthehill on Nov 18, 2020 8:29:34 GMT
Thought I'd read the CP loan details, wasn't going to waste my time but curiousity got the better of me.
Only got as far as the 3rd paragraph which has an 'untruth' in it and stopped. He received the full agreed amount from FS as was pointed out on the other thread. He was going to ride that donkey for as long as it was getting fed. He'll be on best behaviour for the 1st loan, another 47 plots to fund. Last transmission...
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ton27
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Post by ton27 on Nov 25, 2020 10:42:24 GMT
Off-topic CP- Brentford Loan.
CP have just "pulled" a loan in Brentford and are returning funds as their DD has uncovered issues they are not happy with.
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rocky1
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Post by rocky1 on Nov 26, 2020 9:30:48 GMT
yes CPs shield needs to be on full alert as many of these multi tranche dev loans appear to be the sort of stuff we were looking at on LY,MT,FS etc. OK first charge,PGs,debentures but it is CP they made out to not lenders.CP have been excellent so far on my portfolio with their actions on late/overdue loans so credit to them for that.i think we will have some defaults at some point over the next 12/18 months and i hope CP do not fall for the antics we have seen over the past few years with lenders getting shafted left,right and centre from every body including the platforms T&Cs. be careful out there and good luck.
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Post by brummiefred on Nov 26, 2020 10:21:15 GMT
Abergele loan moved back to being less than 100% filled !!!!
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ton27
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Post by ton27 on Nov 26, 2020 13:41:55 GMT
CP says it is fully funded and has a Loan Start Date.
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firedog
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Post by firedog on Nov 27, 2020 7:14:29 GMT
Abergele loan moved back to being less than 100% filled !!!! I've seen this happen a few times with loans just before they finalise – perhaps a pledge hasn't arrived or something. It's usually nothing more sinister than that. I've taken advantage in the past - one plus of pledging at this stage there's about a week less cash drag!
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firedog
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Post by firedog on Nov 27, 2020 7:16:29 GMT
CP have been excellent so far on my portfolio with their actions on late/overdue loans so credit to them for that.i think we will have some defaults at some point over the next 12/18 months and i hope CP do not fall for the antics we have seen over the past few years with lenders getting shafted left,right and centre from every body I watched an interview with CP's CEO and I think he mentioned that 'two or three' loans had defaulted in the past and lenders had received all interest and capital back. So they do already have some experience with this.
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morris
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Post by morris on Dec 2, 2020 15:42:01 GMT
Abergele phase 2 for £350,000 on 11 December.
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Post by multiaccountmanager on Dec 11, 2020 10:05:02 GMT
£350K Filled in less than a minute it looked like.
What percentage of their autoinvest ceiling was allocated to investors - anyone?
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Post by Ace on Dec 11, 2020 10:19:06 GMT
£350K Filled in less than a minute it looked like. What percentage of their autoinvest ceiling was allocated to investors - anyone? 18.5% I wasn't intending to lend on this one, and as my autoinvest was empty I hadn't bothered to skip it. However, a repayment came in just before this one went live.
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firedog
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Post by firedog on Dec 11, 2020 10:34:20 GMT
Surprised this went so quickly, but interesting to me that that number of investors in individual projects is double on average what it was in early November. You'd think – as the restrictions on size of investment have been largely removed – that you'd see the opposite: fewer investors, each with a larger slice.
Can't just be down to an increase in investors to the platform, as the rise is sudden, between two loans. Wonder what it is?
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