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Post by roxanamohammadian on Apr 19, 2021 8:51:15 GMT
Good Morning everyone,
I hope you are all well.
On 23 March, we funded our largest-ever loan, a £1,700,000 loan, in just 6 minutes! This loan, the first tranche of a £2,600,000 lending facility, was funded by 226 investors. It was a big landmark achievement for us to get this loan funded so quickly and we thank all the lenders who continue to trust us by lending on our loans.
Capital at risk. Read the full warning on our website.
Have a great day,
Roxana
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cb25
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Post by cb25 on Apr 19, 2021 9:22:52 GMT
Congratulations on that, roxanamohammadian. At an average of £7500/lender I think I'd feel inadequate on your platform
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Post by overthehill on Apr 19, 2021 9:46:29 GMT
I would prefer it, if the estimated exit LTV% including interest took into account all the predicted lending for the complete loan and not just the current tranche. The tranches are equal so ignoring interest accrual for the later tranches is a bit deceptive. Either don't provide this stat or provide it for the whole loan like some other platforms.
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Post by roxanamohammadian on Apr 27, 2021 13:41:26 GMT
Congratulations on that, roxanamohammadian . At an average of £7500/lender I think I'd feel inadequate on your platform Thank you cb25! And you will most definitely NOT feel inadequate on Blend Network because everyone is welcome with any amount they feel comfortable with from £1,000. Actually, we had a number of people lending just £1,000 on this particular loan! The beauty of P2P lending is precisely that everyone can co-invest on loans no matter how much or how little they want to lend. We do have HNW, family offices and institutional investors, but we also have many retail lenders, all investing under the exact same terms and conditions and being treated equally. Have a wonderful day! Roxana Capital at risk. Please read the full warning on our website.
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Post by roxanamohammadian on Apr 27, 2021 13:42:08 GMT
I would prefer it, if the estimated exit LTV% including interest took into account all the predicted lending for the complete loan and not just the current tranche. The tranches are equal so ignoring interest accrual for the later tranches is a bit deceptive. Either don't provide this stat or provide it for the whole loan like some other platforms.
Thank you overthehill. We do provide all the different metrics and parameters in the loan information pack (IP), but I will pass on your comment and feedback to our lending team. Have a wonderful day! Roxana Capital at risk. Please read the full warning on our website.
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Post by overthehill on Jun 23, 2021 16:28:46 GMT
What time / when does autolend run for a new loan ?
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Post by overthehill on Jun 29, 2021 16:51:31 GMT
The loans are all being consumed by autolend. I'm not going to waste time reading the loan and transferring money if the loan is already funded when it goes live (there is no prior indication). You could run autolend earlier so investors can see what's left or do what CP does and ration autolend to leave allocations for manual lenders. I'm not interested in lending to every loan as the system is geared up for. You've set a 4k limit for tomorrow's loan so we'll see what happens, I'll just be watching. It is also taking 24 hours for my money transfer to appear for investing, it takes minutes in many platforms I could mention.
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dave4
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Post by dave4 on Jun 29, 2021 17:07:14 GMT
The loans are all being consumed by autolend. I'm not going to waste time reading the loan and transferring money if the loan is already funded when it goes live (there is no prior indication). You could run autolend earlier so investors can see what's left or do what CP does and ration autolend to leave allocations for manual lenders. I'm not interested in lending to every loan as the system is geared up for. You've set a 4k limit for tomorrow's loan so we'll see what happens, I'll just be watching. It is also taking 24 hours for money to be available in the account. Blends loan Hove, Shirley Drive - Loan 1 E mail. We have heard your feedback. We also want to increase the number of investors who are able to participate in our loans. So, for this loan, we have added a £4,000 limit on AutoLend. This means that the maximum amount any investor will be able to lend on this loan, through AutoLend, is £4,000.
This suggests that auto is limited, so Manuel lending may get a lookin. I appreciate the effort in trying to address the (too many lenders with £££ ), and realize that limits may not please everyone. Limits are not perfect, in my opinion but way better than the 16hrs Fastest Fingers wins race, looser's get nowt scenario.
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Post by overthehill on Jun 30, 2021 19:21:25 GMT
Was there any manual lending availability when the Hove loan went live today?
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Post by Ace on Jun 30, 2021 19:27:06 GMT
Was there any manual lending availability when the Hove loan went live today? I presume not since I didn't get anything from Auto-Lend.
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Post by overthehill on Jun 30, 2021 20:58:08 GMT
I guess all the p2p companies are in the same situation. Which is better ? 10 clients x 100k or 1000 clients x 1k. What I object to is the lack of communication and process because people are wasting their time reading the loan, transferring money in and out and waiting expectantly for the loan to go live.
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Post by overthehill on Jul 15, 2021 19:38:17 GMT
There is an obvious bias and gaming towards autolend as another loan is filled completely. Read the FAQ, don't drop out of the queue !
I don't like the premise or autolend in general and certainly not when it is fast laned. Run the autolend at an earlier time and send a communication if loan is filled, a basic courtesy.
Also, any money you've deposited waiting for new loans is not protected by FSCS as indicated on their website. Do your own DD.
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Post by Ace on Jul 15, 2021 21:57:23 GMT
There is an obvious bias and gaming towards autolend as another loan is filled completely. Read the FAQ, don't drop out of the queue !
I don't like the premise or autolend in general and certainly not when it is fast laned. Run the autolend at an earlier time and send a communication if loan is filled, a basic courtesy.
Also, any money you've deposited waiting for new loans is not protected by FSCS as indicated on their website. Do your own DD.
I don't mind the concept of autolend, but I agree that Blend's has a serious flaw, in that it forces you to have unnecessary cash drag in order to use it. You have to have your autolend amount permanently on the platform (not earning interest) to reserve your place in the queue. When an upcoming loan is announced you need to double that amount incase you get an allocation, otherwise you would be kicked out of the autolend queue when your allocation was assigned. This is the worst autolend mechanics of all platforms I've tried. It's a shame because it's unnecessary and very easily fixed. I quite like them otherwise.
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dave4
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Post by dave4 on Jul 15, 2021 22:15:53 GMT
Second that. I wonder if roxanamohammadian can you have a word in the wright places pls
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Post by roxanamohammadian on Jul 19, 2021 8:00:17 GMT
What time / when does autolend run for a new loan ? Thanks overthehill. Loans on the Blend Network platform will be open for lending exactly 24-hours after they have been listed. The reason this is the case is so that everyone gets a fair chance to review the Information Pack provided by us and has time to decide whether they would like to lend or not. Having said that, ‘AutoLenders’ (i.e. all those lenders who have signed up for AutoLend) will be lending automatically ahead of manual lenders and before the loan opens for lending. ‘Autolenders’ will generally start lending around 1-hour before the loan opens. I hope this helps answer your questions. If you have any further questions, please drop me a message or give me a call. Capital at risk. Read the full warning on our website. Best, Roxana
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