j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Dec 15, 2014 12:37:56 GMT
Now launched!
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Post by yorkshireman on Dec 15, 2014 13:07:49 GMT
Am I missing something, has something changed or is there a problem with the SS site? I seem to recall that after SS dropped Go Cardless they introduced a system whereby you could “invest” in a loan with insufficient funds in your account provided you made a BACS transfer within 24 hours to cover the shortfall. I now find that on this loan I cannot “invest” at all due to "insufficient funds", full stop, no option to fund within 24 hours and as usual there is no one available who can answer the query when you phone SS.  |
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Post by savingstream on Dec 15, 2014 13:13:32 GMT
Please use the auto-deposit function under the Cashier->Deposit menu to credit your account.
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Post by yorkshireman on Dec 15, 2014 13:18:33 GMT
I've sussed that out now.
Thanks.
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justsaying
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Post by justsaying on Jan 12, 2015 23:46:48 GMT
I'm relatively new to all this malarkey, but a question which may be just due to lack of experience. PBL 20 seems to be taking an awful long time to be fully funded, I can see that its a chunky sum, but PBL 21 (which although is a tenth of the size), filled (I seem to recall) in a number of hours. Is it just because of the size of the loan, or due to number of SS investors or something else I am missing?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jan 13, 2015 0:52:28 GMT
I'm relatively new to all this malarkey, but a question which may be just due to lack of experience. PBL 20 seems to be taking an awful long time to be fully funded, I can see that its a chunky sum, but PBL 21 (which although is a tenth of the size), filled (I seem to recall) in a number of hours. Is it just because of the size of the loan, or due to number of SS investors or something else I am missing? It is just the size of the loan. PBL005 took about 3 months to fill and had underwriting. Lenders like to diversify so the small loans fill fast, just need a few more lenders. 12 new members signed up today, according to the counter on the home page, 800 lenders have joined in the last 6 months. The growth rate is accelerating so PBL020 should be full in about 3 weeks time, but there are several upcoming loans mentioned in the weekly update so it may take longer. The best bit is that SS pay interest from the date you invest even if the loan doesn't drawdown.
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justsaying
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Post by justsaying on Jan 13, 2015 8:42:45 GMT
Great thanks, very useful reply. I had hoped that were the case!
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Post by dbuk on Jan 16, 2015 22:04:19 GMT
Hi I'm new to this too. Whilst I get my head around how it all works, I decided to fund the same loan (20) twice with only a very small amount. 1 with interest paid monthly and the 2nd with interest paid upfront. I cant however find the interest on the 2nd so I can either reinvest it in the same loan or withdraw it.
Thank you in advance
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spockie
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Post by spockie on Jan 16, 2015 22:17:25 GMT
Hi I'm new to this too. Whilst I get my head around how it all works, I decided to fund the same loan (20) twice with only a very small amount. 1 with interest paid monthly and the 2nd with interest paid upfront. I cant however find the interest on the 2nd so I can either reinvest it in the same loan or withdraw it.
Thank you in advance Loan 20 hasn't drawn down yet. You'll get your upfront interest when it does, I believe.
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Post by dbuk on Jan 16, 2015 22:33:08 GMT
Thanks spockie
Many more questions to follow over the coming weeks no doubt 
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 4, 2015 17:00:22 GMT
I'm wondering what the delay is with this loan drawdown. Most loan drawdowns take longer than expected and I expect (!) that, but we keep being told this one's going to be drawn 'this week' and now we've had at least one 'today or tomorrow', the latest referring to Monday and Tuesday of this week and yet here we are at close of play Wednesday and still not got away. Do we have a truly realistic ETD on this one savingstream? |
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star dust
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Post by star dust on Feb 4, 2015 17:15:58 GMT
I think PBL 19's the worst as it spent the first three months (or so) of it's life as an undrawndown PBL 09, and still hasn't drawndown more than six weeks since it's reincarnation!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 4, 2015 17:29:44 GMT
Ah yes, I'm not saying it's the worst. If we expect it 'this week' I don't seriously expect it. If I'm told 'today' then I do expect it. I'm just curious as to what's happening with it really, as this one is supposedly so close, but never gets there.
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star dust
Member of DD Central
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Post by star dust on Feb 4, 2015 18:10:33 GMT
Mmm.... I'm not suggesting you shouldn't ask, but the difference between "hoping", "expected", or a more emphatic "Completion date of 3rd Feb" (PBL 22), strikes me as a bit semantic, when the implication was they would all complete Monday or Tuesday.
Hopefully there will be some draw-downs this week anyway, and unless the borrowers are already (or will be) paying for it somehow, SS get a bit sharper at estimating drawdown times as it must be costing them a bit.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 18:29:20 GMT
Mmm.... I'm not suggesting you shouldn't ask, but the difference between "hoping", "expected", or a more emphatic "Completion date of 3rd Feb" (PBL 22), strikes me as a bit semantic, when the implication was they would all complete Monday or Tuesday. Hopefully there will be some draw-downs this week anyway, and unless the borrowers are already (or will be) paying for it somehow, SS get a bit sharper at estimating drawdown times as it must be costing them a bit. For the most part they're a good deal better at it already than AC ever have been  . Since I'm getting the interest I don't generally mind the wait at all; don't mind me, I'm just getting steadily more grumpy with things in general today, so I'm off for some non-computer time and a glass of something soothing. To quote from the Best Exotic Marigold Hotel: "Everything will be alright in the end, and if it isn't alright, then it isn't yet the end".
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. Since I'm getting the interest I don't generally mind the wait at all; don't mind me, I'm just getting steadily more grumpy with things in general today, so I'm off for some non-computer time and a glass of something soothing. To quote from the Best Exotic Marigold Hotel: "Everything will be alright in the end, and if it isn't alright, then it isn't yet the end".