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Post by multiaccountmanager on May 12, 2021 10:01:30 GMT
I got very strange allocations across two accounts today. 3.13% in my account, and 1.44% (a flat £50) in a friend's account. I've not seen this inequality before. I received 1.35% on the 2 accounts set for autoinvest
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on May 12, 2021 11:33:23 GMT
I got very strange allocations across two accounts today. 3.13% in my account, and 1.44% (a flat £50) in a friend's account. I've not seen this inequality before. I received 1.35% on the 2 accounts set for autoinvest Auto £50 as per cp website.
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easylender
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Post by easylender on May 26, 2021 9:59:33 GMT
Thanks to this week's two big loans I'm back to being fully invested. I managed that with autoinvest too.
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Post by overthehill on Jun 13, 2021 18:50:22 GMT
Being fully invested isn't necessarily being fully interest earning.
Yet another loan Yar**** is still unstarted at least 34 days -if it starts tomorrow- after my pledge date. There have been no messages and it reduces the advertised interest rate by a variable amount depending on the length of the loan, an 8% APR 12 month loan becomes 7.25%. Kuflink pays instant interest so given all Crowdproperty loans have a delayed start and a descending interest rate then the 2 sites interest rates are rapidly converging.
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cb25
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Post by cb25 on Jun 15, 2021 15:22:33 GMT
Being fully invested isn't necessarily being fully interest earning.
Yet another loan Yar**** is still unstarted at least 34 days -if it starts tomorrow- after my pledge date. There have been no messages and it reduces the advertised interest rate by a variable amount depending on the length of the loan, an 8% APR 12 month loan becomes 7.25%. Kuflink pays instant interest so given all Crowdproperty loans have a delayed start and a descending interest rate then the 2 sites interest rates are rapidly converging.
I sent a message to CP about the loans 5560HEREFORD and 6100LONDON, regarding the fact I pledged money to these loans over 6 weeks in the case of the London loan and over a month ago in the case of the Hereford loan.
CP's response (I've changed their descriptions of the loans to LONDON/HEREFORD):
"While we always try to raise funds as close to the completion date as possible, unfortunately due to the nature of property sometimes unforeseen circumstances can arise which can cause delays in completion. However, I have spoken to the case manager on this loan (LONDON) and he has advised we are aiming to complete within the next week or so as there is only one piece of paperwork that we are waiting for to officially start the loan. We also expect the HEREFORD loan to complete within the next week.
As you will be aware CrowdProperty take pride in our due diligence and we will always ensure all legal aspects have been satisfied before we commence a loan. If you do wish to remove your pledge on this project please let me know and this can be arranged."
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easylender
Member of DD Central
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Post by easylender on Jun 25, 2021 9:45:37 GMT
Strictly speaking I have never managed to be truly fully invested on CP, only fully pledged. After being fully pledged back in April several loans repaid so that I am only now fully Pledged again following the large Gainsborough loan.
I currently have 96 loans on the platform, of which 8 are not yet lent out. With this many loans one or two repay most weeks, and some pay regular interest. As a result funds keep returning so quickly that I don't think it's possible to be really fully invested. Even if I did become fully invested it's a situation that's unlikely to last for more than a few hours, and so it's not a useful concept in this situation.
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Post by pauliee on Jun 29, 2021 11:19:34 GMT
To get funds in and working on CP I have had to use what I call "surge funding" When there are large loans available I massively increase the autoinvest pot and limit way beyond an allocation size I would ever be comfortable with. As CP bank transfers are instantaneous I can pop my cash fund out of an instant access account into CP and out again all within a day I did have a mail from their money laundering team mind you!  |
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Post by overthehill on Jun 30, 2021 18:32:48 GMT
CP have got much right compared to others. One being when you want to transfer money in or out , make it instant. It can make a difference.
EDIT: Except the part to move it from isa to standard, apart from that!
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Post by multiaccountmanager on Jul 20, 2021 16:26:51 GMT
Hmmmm - Church End Markyate - according to the May update we were supposed to be offered a rollover. But we weren't and loans were repaid. I asked what happened and have been advised that rollovers no longer operate, "in response to demand"  ?? |
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Post by brummiefred on Jul 20, 2021 17:08:54 GMT
Strange, if you refer to loan #6447, then my spreadsheet denotes this as rollover for 12 months to 23 May '22
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Post by multiaccountmanager on Jul 20, 2021 20:04:40 GMT
Strange, if you refer to loan #6447, then my spreadsheet denotes this as rollover for 12 months to 23 May '22 The loan I was referring to is #2217. The update on 19.5.21 says this loan is due to expire on 23rd may. the borrower has let us know that he will not be able to redeem the loan in that time and we have agreed to rewrite it and put him on a new facility. this will mean we will raise funds on the platform the new facility, then repay the existing loan. prior to this going live, you will be offered the chance to roll over the new loan or exit. we will write to you when we have confirmed the new launch date to confirm if you wishto roll over or exit at this point. progress of the works is continuing, and the works are approx. 70% complete. they have agreed terms to purchase part of the adjacent site off of the church commission for additional car parking – subject to planning; the planning application has been submitted.......................... I did not receive an invitation to rollover. #6447 is a "Development Exit Facility" for the same project, on my pledge downloads it runs from 16/7/21 to 17/6/22
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Post by overthehill on Aug 2, 2021 18:07:20 GMT
Where can you see the loan start date before the loan goes live because they are really starting to irritate me.
Did anyone notice if the loan start date for Beckenham was always the 17th August, 17th August, 17th August or has it been changed since the loan went live ?
There is something far wrong when CP of all people have loan start dates so far in the future, the fricking loans fill in minutes,  .
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Ace
Member of DD Central
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Post by Ace on Aug 2, 2021 19:15:36 GMT
Where can you see the loan start date before the loan goes live because they are really starting to irritate me.
Did anyone notice if the loan start date for Beckenham was always the 17th August, 17th August, 17th August or has it been changed since the loan went live ?
There is something far wrong when CP of all people have loan start dates so far in the future, the fricking loans fill in minutes, .
I don't think it's possible to see the expected start date before pledging. CP have stated before that if we want to avoid initial cash drag we should avoid phase 1 loans as there's often some unexpected hitch that holds things up at the start of the initial phase. So, a 3 week delay at the start of this phase 2 loan does seem odd/unusual.
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Ace
Member of DD Central
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Post by Ace on Aug 4, 2021 12:51:43 GMT
Today's CP loan (W*nsf*rd) was stated as being funded by autoinvest only. I only got £40 in each of the accounts I manage despite my Maximum Pledge Size being very different across the accounts. It represented less than 1% of my MPS in one of the accounts. So, it looks like all retail investors probably got a flat £40. Did anyone get a different amount? There were 2064 lenders, so, at £40 each that would only amount to £82,560. My guess is that the other £97,440 (or more likely £100k) went to the recent large institutional lender. It's obviously CP's prerogative to decide how to run their business, and therefore how to satisfy each lender class. However, it would be good if they were more open about how much of each loan will be available to us retail lenders so that we can make informed decisions as to the amount of funds we wish to allocate to the platform. Tagging CrowdProperty Representative for comment. |
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Aug 4, 2021 13:09:36 GMT
£40
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??
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