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Post by gramsky on Mar 27, 2021 18:32:31 GMT
I am planning to fund a new ISA before the end of this financial year and looking at Proplend, but I can only find 3 loans listed under 'In funding' and 13 under 'Pending', are there other loans still available that I am unable to see? How often do loans appear for sale in the 'Loan Exchange'? I am just wondering how long it would take to get my £20k invested. If I was to put in £20k with 'Autolend' switched on to invest a maximum of say £5k in each loan, can I then adjust the amount to say £2.5K without switching off 'Autoloan' and if I reduce the amount will 'Autoloan' reduce my holding in existing loans bought previously at the higher figure? What has been the default record for completed loans? There seems to be no where on the site where I can look this information up. Thank you
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eeyore
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Post by eeyore on Mar 27, 2021 19:37:27 GMT
I am planning to fund a new ISA before the end of this financial year and looking at Proplend, but I can only find 3 loans listed under 'In funding' and 13 under 'Pending', are there other loans still available that I am unable to see? No, there aren't. All the 'In funding' loans are fully-funded already. 'Pending' loans may become available in the coming weeks (one has been pending since 22-Jan; some will appear and disappear, presumably because the borrower and/or Proplend have decided not to proceed). How often do loans appear for sale in the 'Loan Exchange'? I am just wondering how long it would take to get my £20k invested.
Over the last couple of years, there was an irregular flow of loans being offered; this time last year (special circumstances!) there were tens of loans on offer for several months, but they were all gradually taken-up. I don't recall seeing any since the end of last year. There are always rumours that there are robots continuously scanning the loan exchange ready to snap-up anything on offer, but with the introduction of Auto-Lend 2.0, the lenders who have opted for 'Always-On' will automatically invest funds in anything that appears. I would not expect that you'll be able to invest any of your funds on the loan exchange for the foreseeable future. The bulk of your £20k will have to be invested in new 'primary' loans as they become available. It's impossible to say how long it would take but the flow of loans is less than one per week. With the popularity of Proplend loans, it's probable that you'll not be able to invest even £1k in every loan. Look at the recent threads in the Proplend forum for posters complaining of no allocation - at the moment, I've only been able to invest in half the recent loans; getting £2k or greater in any one loan is even more unlikely. If I was to put in £20k with 'Autolend' switched on to invest a maximum of say £5k in each loan, can I then adjust the amount to say £2.5K without switching off 'Autoloan' I understand that it is possible to change the maximum invested in any one loan without switching off the 'Always On' option in Auto-Lend. With the 'Self-Select' option of Auto-Lend, it switches off after each loan is allocated. and if I reduce the amount, will 'Autoloan' reduce my holding in existing loans bought previously at the higher figure?I don't think so - it just won't invest any more. What has been the default record for completed loans? There seems to be no where on the site where I can look this information up.
Anecdotally, Proplend's track record for defaulted loans has been excellent: I think it's only been one default so far. Some loans have been slow to repay, there are a few outstanding now, but on the other hand when they do repay, there'll be extra 'penalty' interest to recompense us for the delay. But there's no certainty that all loans will repay in full or even in part...
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scooter
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Post by scooter on Mar 27, 2021 21:46:02 GMT
I am planning to fund a new ISA before the end of this financial year and looking at Proplend, but I can only find 3 loans listed under 'In funding' and 13 under 'Pending', are there other loans still available that I am unable to see? No, there aren't. All the 'In funding' loans are fully-funded already. 'Pending' loans may become available in the coming weeks (one has been pending since 22-Jan; some will appear and disappear, presumably because the borrower and/or Proplend have decided not to proceed). How often do loans appear for sale in the 'Loan Exchange'? I am just wondering how long it would take to get my £20k invested.
Over the last couple of years, there was an irregular flow of loans being offered; this time last year (special circumstances!) there were tens of loans on offer for several months, but they were all gradually taken-up. I don't recall seeing any since the end of last year. There are always rumours that there are robots continuously scanning the loan exchange ready to snap-up anything on offer, but with the introduction of Auto-Lend 2.0, the lenders who have opted for 'Always-On' will automatically invest funds in anything that appears. I would not expect that you'll be able to invest any of your funds on the loan exchange for the foreseeable future. The bulk of your £20k will have to be invested in new 'primary' loans as they become available. It's impossible to say how long it would take but the flow of loans is less than one per week. With the popularity of Proplend loans, it's probable that you'll not be able to invest even £1k in every loan. Look at the recent threads in the Proplend forum for posters complaining of no allocation - at the moment, I've only been able to invest in half the recent loans; getting £2k or greater in any one loan is even more unlikely. If I was to put in £20k with 'Autolend' switched on to invest a maximum of say £5k in each loan, can I then adjust the amount to say £2.5K without switching off 'Autoloan' I understand that it is possible to change the maximum invested in any one loan without switching off the 'Always On' option in Auto-Lend. With the 'Self-Select' option of Auto-Lend, it switches off after each loan is allocated. and if I reduce the amount, will 'Autoloan' reduce my holding in existing loans bought previously at the higher figure?I don't think so - it just won't invest any more. What has been the default record for completed loans? There seems to be no where on the site where I can look this information up.
Anecdotally, Proplend's track record for defaulted loans has been excellent: I think it's only been one default so far. Some loans have been slow to repay, there are a few outstanding now, but on the other hand when they do repay, there'll be extra 'penalty' interest to recompense us for the delay. But there's no certainty that all loans will repay in full or even in part... I just auto invest 1k per loan in tranche A having been stung by the one default. I get every other loan generally. Whilst they confirmed that secondary market sales will be picked up by auto invest, they also said that it will not purchase loans you already have and that in reality investors are buying up the sm loans before auto invest. I would put £20k in before April and then withdraw most of it in the new tax year and drip feed it back in. It is fully flexible.
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Post by uksoul on Mar 27, 2021 23:42:22 GMT
How often do loans appear for sale in the 'Loan Exchange'? I am just wondering how long it would take to get my £20k invested.
Over the last couple of years, there was an irregular flow of loans being offered; this time last year (special circumstances!) there were tens of loans on offer for several months, but they were all gradually taken-up. I don't recall seeing any since the end of last year. There are always rumours that there are robots continuously scanning the loan exchange ready to snap-up anything on offer, but with the introduction of Auto-Lend 2.0, the lenders who have opted for 'Always-On' will automatically invest funds in anything that appears. I would not expect that you'll be able to invest any of your funds on the loan exchange for the foreseeable future. There were loans on sale on the loan exchange last week, they got snapped up extremely quick. Often before a new loan is launched you can pick up loans on the PLE, some investors will exhange a loan with a few months to go to reinvest in a new one. I have picked up 5 loans on the PLE this year. The PLE pickings are less than before but in order to self select them you need to check their availability frequently and also be in luck with timing.
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bababill
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Post by bababill on Mar 29, 2021 3:19:08 GMT
What has been the default record for completed loans? There seems to be no where on the site where I can look this information up. Thank you check: Loan Performance 'Actuals' To Date on following link www.proplend.com/about-platform/loan-statistics/
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Post by gramsky on Mar 30, 2021 10:28:27 GMT
Thank you for all your helpful replies. I invested this morning, and phoned them direct with a few more questions. They were very helpful and said I should be fully invested within about 6 weeks. Will be interesting to see if that is true.
PS: I seem to have picked up £1K of a loan this morning, but can't see what one it is. It just says 'waiting to close'.
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rs
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Post by rs on Mar 30, 2021 11:05:27 GMT
Thank you for all your helpful replies. I invested this morning, and phoned them direct with a few more questions. They were very helpful and said I should be fully invested within about 6 weeks. Will be interesting to see if that is true. For you to fully invest £20k in 6 weeks would mean Proplend would need to do 3 loans per week. Normally there is a £1k maximum per loan per tranche for each lender. I'm not sure 6 weeks is realistic but maybe Proplend have a lot of loans and large loans going live over the next few weeks.
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Post by uksoul on Mar 30, 2021 11:27:35 GMT
Thank you for all your helpful replies. I invested this morning, and phoned them direct with a few more questions. They were very helpful and said I should be fully invested within about 6 weeks. Will be interesting to see if that is true. For you to fully invest £20k in 6 weeks would mean Proplend would need to do 3 loans per week. Normally there is a £1k maximum per loan per tranche for each lender. I'm not sure 6 weeks is realistic but maybe Proplend have a lot of loans and large loans going live over the next few weeks. There are a few large loans due to go live over the next few weeks, one smallish loan going live this week.
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Post by gramsky on Mar 30, 2021 11:40:01 GMT
For you to fully invest £20k in 6 weeks would mean Proplend would need to do 3 loans per week. Normally there is a £1k maximum per loan per tranche for each lender. I'm not sure 6 weeks is realistic but maybe Proplend have a lot of loans and large loans going live over the next few weeks. There are a few large loans due to go live over the next few weeks, one smallish loan going live this week. Just received email to say I have picked up £1k of Twickenham loan.
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Post by uksoul on Mar 30, 2021 11:58:51 GMT
There are a few large loans due to go live over the next few weeks, one smallish loan going live this week. Just received email to say I have picked up £1k of Twickenham loan. Yeah, that's the one being launched very soon.
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eeyore
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Post by eeyore on Mar 30, 2021 13:03:29 GMT
There are a few large loans due to go live over the next few weeks, one smallish loan going live this week. Just received email to say I have picked up £1k of Twickenham loan. Lucky you! That'll be the "Investment Order Confirmation" email. I haven't received an email even though I'm still an 'Always-On' client for Auto-Lend, which means that my funds have not been allocated a slice of the loan. So it conforms to the current pattern of allocating funds to every other loan as they become available. I'll probably get a slice of the next loan in the pipeline and you probably won't! (Unless it's a large loan.) See the thread about Auto-Lend 2.0 here: p2pindependentforum.com/thread/18414/auto-lend-2-pl
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rs
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Post by rs on Mar 30, 2021 15:24:49 GMT
Just received email to say I have picked up £1k of Twickenham loan. Lucky you! That'll be the "Investment Order Confirmation" email. I haven't received an email even though I'm still an 'Always-On' client for Auto-Lend, which means that my funds have not been allocated a slice of the loan. So it conforms to the current pattern of allocating funds to every other loan as they become available. I'll probably get a slice of the next loan in the pipeline and you probably won't! (Unless it's a large loan.) See the thread about Auto-Lend 2.0 here: p2pindependentforum.com/thread/18414/auto-lend-2-plProplend website shows Cas*** Va** Gara** as fully funded (both tranches all gone). Strange. Did'nt even get an email from Proplend about this fully funded loan.
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rs
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Post by rs on Mar 30, 2021 15:30:44 GMT
Lucky you! That'll be the "Investment Order Confirmation" email. I haven't received an email even though I'm still an 'Always-On' client for Auto-Lend, which means that my funds have not been allocated a slice of the loan. So it conforms to the current pattern of allocating funds to every other loan as they become available. I'll probably get a slice of the next loan in the pipeline and you probably won't! (Unless it's a large loan.) See the thread about Auto-Lend 2.0 here: p2pindependentforum.com/thread/18414/auto-lend-2-plProplend website shows Cas*** Va** Gara** as fully funded (both tranches all gone). Strange. Did'nt even get an email from Proplend about this fully funded loan. The Cas*** Va** Gara** loan disappeared from the funding page now. Teething problems i suspect.
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eeyore
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Post by eeyore on Mar 30, 2021 16:03:49 GMT
Proplend website shows Cas*** Va** Gara** as fully funded (both tranches all gone). Strange. Did'nt even get an email from Proplend about this fully funded loan. The Cas*** Va** Gara** loan disappeared from the funding page now. Teething problems i suspect. I too saw the fully-funded Castle Vale G*** loan this morning (~10:00) in the 'In Funding' list. Nor have I seen any email about such a loan. When I clicked on the 'Info' button, I could see a button to download the valuation report* but no button to download the loan request summary document which immediately made me suspicious because it should be there when a loan goes live. When I clicked on the 'Pending' list, it just did the expanding circles; the miscreant loan had disappeared from 'In Funding' when I clicked back. Did someone at Proplend push the wrong keys? * I'm kicking myself now for not downloading the valuation report first.
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bababill
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Post by bababill on May 8, 2021 2:05:08 GMT
Thank you for all your helpful replies. I invested this morning, and phoned them direct with a few more questions. They were very helpful and said I should be fully invested within about 6 weeks. Will be interesting to see if that is true. PS: I seem to have picked up £1K of a loan this morning, but can't see what one it is. It just says 'waiting to close'. 6 weeks equals 42 days. March 30th to today equals 39 days plus upcoming Sunday and Monday equals 41 days. Did you hit your target of being fully invested?
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