ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,213
Likes: 11,404
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Post by ilmoro on Jul 20, 2021 13:06:34 GMT
You can see exactly what happened on the dashboard as it show past activity. The loan launched at 12.58 by CL's clock and, with a bit of X-ref with the activity section on the loan itself, tranche C (3) had been filled by 3 investors at 12.59
The last £50 of B went at 13.02
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Post by Ace on Jul 20, 2021 13:09:18 GMT
The transaction logs show that the loan went live at 12:58 and £1,625 was invested before 13:00.
EDIT: crossed with ilmoro.
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toffeeboy
Member of DD Central
Posts: 530
Likes: 378
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Post by toffeeboy on Jul 20, 2021 13:11:43 GMT
There is still £625 of A left at 1.25 pm. There was £50 of C left when I looked at maybe 1.05 pm. The loan did not go live, for me at least, before time. I wonder if you're checking prematurely - until it actually goes live the availability shows zero. On their dashboard activity it states that the loan details were changed at 12:58 and shows people buying it at 12:59. They have other problems if you are seeing C available, did you purchase any of it, five minutes later than I am seeing it all gone. I can't seem to reference connectivelending in this post to ask for a comment for some reason, hopefully it works typing it manually as the search doesn't find them.
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Post by Ace on Jul 20, 2021 13:18:16 GMT
Looking back in the logs, only 11 of the 20 loans went live at xx:00 by CL's clock, though a few of them will have been those that went live without warning.
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Post by Ace on Jul 20, 2021 13:44:57 GMT
As there was some availability when I got back from my meeting (OK, it was lunch out with friends, but that's a sort of meeting) I decided to deposit some funds. To my surprise it was credited and I got a chunk. There's still £50 available in Tranche A.
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Post by df on Jul 20, 2021 22:45:34 GMT
As there was some availability when I got back from my meeting (OK, it was lunch out with friends, but that's a sort of meeting) I decided to deposit some funds. To my surprise it was credited and I got a chunk. There's still £50 available in Tranche A. So far it looks like CL is very good at processing deposits very quickly. May be there's no need to keep idle cash on platform (at least for now as the number of investors is still very small). 10% is a good rate for 38.57% LTV, especially that the security is already there (no need to rely on the watches to be built). Valuation has been conducted in-house by someone who knows lux watches market, not "RICS" who tends to produce bespoke valuations, many of which in the event of default proved to be unrealistic 10% is more than we get for the same thing on UB anyway...
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Post by Ace on Jul 20, 2021 23:25:24 GMT
As there was some availability when I got back from my meeting (OK, it was lunch out with friends, but that's a sort of meeting) I decided to deposit some funds. To my surprise it was credited and I got a chunk. There's still £50 available in Tranche A. So far it looks like CL is very good at processing deposits very quickly. May be there's no need to keep idle cash on platform (at least for now as the number of investors is still very small). 10% is a good rate for 38.57% LTV, especially that the security is already there (no need to rely on the watches to be built). Valuation has been conducted in-house by someone who knows lux watches market, not "RICS" who tends to produce bespoke valuations, many of which in the event of default proved to be unrealistic 10% is more than we get for the same thing on UB anyway... Darn it. Wish I had put more in now 😆
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Post by mfaxford on Jul 21, 2021 8:48:57 GMT
As there was some availability when I got back from my meeting (OK, it was lunch out with friends, but that's a sort of meeting) I decided to deposit some funds. To my surprise it was credited and I got a chunk. There's still £50 available in Tranche A. So far it looks like CL is very good at processing deposits very quickly. May be there's no need to keep idle cash on platform (at least for now as the number of investors is still very small). I think both of my deposits have been actioned within an hour which is plenty if we get the usual 24 hours notice - It might not be enough for the loans that go live as (before) they're announced. As I've only been investing a small amount in loans so far. Time will tell how that continues as the platform grows (I'd guess it might slowly get worse where a small number of people are balancing all the work and then suddenly improve as things grow and jobs become more specialised). As I've only been investing small chunks of money for now I've been happy to keep a small amount in the holding account. As things grow hopefully there will be enough recycled funds to keep new loans being funded without having to add new funds all the time.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,213
Likes: 11,404
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Post by ilmoro on Jul 22, 2021 19:41:13 GMT
Tick tock the mouse ran up the clock.
New loan tomorrow at 2pm (or perhaps 1.58 if the clicks are fast 😉)
Punchy rates but no minimum stated.
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Post by df on Jul 22, 2021 20:17:53 GMT
Tick tock the mouse ran up the clock. New loan tomorrow at 2pm (or perhaps 1.58 if the clicks are fast 😉) Punchy rates but no minimum stated. 16% for more adventurous souls is a very reasonable rate, but for me it's going to be A. Metals, stones and watches tend to have more or less stable value - clocks, art work, books, toy trains, vases, memorabilia and similar items don't. I think CL got the rates right and no need for restrictions, this won't fly off the shelves. The timing coincides with another FPW on ABL, but I don't think one has to be punctual for any of these two.
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Post by df on Jul 22, 2021 21:34:13 GMT
So far it looks like CL is very good at processing deposits very quickly. May be there's no need to keep idle cash on platform (at least for now as the number of investors is still very small). I think both of my deposits have been actioned within an hour which is plenty if we get the usual 24 hours notice - It might not be enough for the loans that go live as (before) they're announced. As I've only been investing a small amount in loans so far. Time will tell how that continues as the platform grows (I'd guess it might slowly get worse where a small number of people are balancing all the work and then suddenly improve as things grow and jobs become more specialised). As I've only been investing small chunks of money for now I've been happy to keep a small amount in the holding account. As things grow hopefully there will be enough recycled funds to keep new loans being funded without having to add new funds all the time. Small amount for a new platform is a good strategy, at least that what I've learned from my own mistakes I don't like cash drag, but that's the reality. On some platforms cash drag is part of the deal. For example, you can't really keep it going unless you have some idle funds on your cash account on UB... Considering the loan flow so far, if you are on a minimum it can take many years to reach that point when you don't have to make any more deposits to fund new loans.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,213
Likes: 11,404
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Post by ilmoro on Jul 23, 2021 13:07:19 GMT
Tick tock the mouse ran up the clock. New loan tomorrow at 2pm (or perhaps 1.58 if the clicks are fast 😉) Punchy rates but no minimum stated. 16% for more adventurous souls is a very reasonable rate, but for me it's going to be A. Metals, stones and watches tend to have more or less stable value - clocks, art work, books, toy trains, vases, memorabilia and similar items don't. I think CL got the rates right and no need for restrictions, this won't fly off the shelves. The timing coincides with another FPW on ABL, but I don't think one has to be punctual for any of these two. It isnt hanging around, mainly helped by someone sticking nearly £6k into tranche A. Only a small amount of A left after 5mins, B seems to be less popular
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Post by mfaxford on Jul 23, 2021 13:16:25 GMT
16% for more adventurous souls is a very reasonable rate, but for me it's going to be A. Metals, stones and watches tend to have more or less stable value - clocks, art work, books, toy trains, vases, memorabilia and similar items don't. I think CL got the rates right and no need for restrictions, this won't fly off the shelves. It isnt hanging around, mainly helped by someone sticking nearly £6k into tranche A. Only a small amount of A left after 5mins, B seems to be less popular C has gone A has £375 left B seems to be less popular with £2400 left (of £4500). It looks like most of that happened in the first couple of minutes of the loan being active with only a few small bites being taken since.
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Post by connectivelending on Jul 23, 2021 13:33:26 GMT
There is still £625 of A left at 1.25 pm. There was £50 of C left when I looked at maybe 1.05 pm. The loan did not go live, for me at least, before time. I wonder if you're checking prematurely - until it actually goes live the availability shows zero. On their dashboard activity it states that the loan details were changed at 12:58 and shows people buying it at 12:59. They have other problems if you are seeing C available, did you purchase any of it, five minutes later than I am seeing it all gone. I can't seem to reference connectivelending in this post to ask for a comment for some reason, hopefully it works typing it manually as the search doesn't find them. Dear toffeeboy, We are launching the loans manually and not by a timer which is why, it looks, some loans are not launched accurately with the time clock. We will discuss this internally and see if we can improve to make things fairer. Thanks to all for your trust and support so far. We really appreciate it. Regards CL Team
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Post by df on Jul 23, 2021 13:38:51 GMT
16% for more adventurous souls is a very reasonable rate, but for me it's going to be A. Metals, stones and watches tend to have more or less stable value - clocks, art work, books, toy trains, vases, memorabilia and similar items don't. I think CL got the rates right and no need for restrictions, this won't fly off the shelves. The timing coincides with another FPW on ABL, but I don't think one has to be punctual for any of these two. It isnt hanging around, mainly helped by someone sticking nearly £6k into tranche A. Only a small amount of A left after 5mins, B seems to be less popular Yes, it looks like the loans are getting filled much quicker than before and B's are generally less popular. I never choose B, only if I'm late for the party and no C left.
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