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Post by Ace on May 20, 2021 20:56:41 GMT
I think it's fine for small balances due to the fact that when you get a loan chunk you get a minimum of £5. It's much trickier to get larger balances deployed, and seems to be getting harder. Which is fine if you only wanted a tenner, but if you ask for much more it doesn't make much difference to what you actually get.
I experimented last night. In two accounts I asked for £250 in each class and in another I asked for £100. There were two loans created today. All three accounts were allocated a chunk in the larger loan (it was a little over £5k). The two that asked for £250 were allocated £6.82. The one that asked for £100 was allocated £5.71.
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mogish
Member of DD Central
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Post by mogish on May 21, 2021 7:17:17 GMT
I think it's fine for small balances due to the fact that when you get a loan chunk you get a minimum of £5. It's much trickier to get larger balances deployed, and seems to be getting harder. Which is fine if you only wanted a tenner, but if you ask for much more it doesn't make much difference to what you actually get. I experimented last night. In two accounts I asked for £250 in each class and in another I asked for £100. There were two loans created today all three accounts were allocated a chunk in the larger loan (it was a little over £5k). The two that asked for £250 were allocated £6.82. The one that asked for £100 was allocated £5.71. Hmmm so it seems regardless of lending amount set, we are all roughly getting the same deployed. Think I will try the same experiment. See what happens out of interest.
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Post by df on May 21, 2021 7:22:33 GMT
I think it's fine for small balances due to the fact that when you get a loan chunk you get a minimum of £5. It's much trickier to get larger balances deployed, and seems to be getting harder. Which is fine if you only wanted a tenner, but if you ask for much more it doesn't make much difference to what you actually get. I experimented last night. In two accounts I asked for £250 in each class and in another I asked for £100. There were two loans created today all three accounts were allocated a chunk in the larger loan (it was a little over £5k). The two that asked for £250 were allocated £6.82. The one that asked for £100 was allocated £5.71. I’ve got exactly the same yesterday. Asked for £100, cash balance was approximately £200 and allocated £5.71.
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Post by Ace on May 21, 2021 7:29:35 GMT
I think it's fine for small balances due to the fact that when you get a loan chunk you get a minimum of £5. It's much trickier to get larger balances deployed, and seems to be getting harder. Which is fine if you only wanted a tenner, but if you ask for much more it doesn't make much difference to what you actually get. I experimented last night. In two accounts I asked for £250 in each class and in another I asked for £100. There were two loans created today all three accounts were allocated a chunk in the larger loan (it was a little over £5k). The two that asked for £250 were allocated £6.82. The one that asked for £100 was allocated £5.71. I’ve got exactly the same yesterday. Asked for £100, cash balance was approximately £200 and allocated £5.71. My cash balance in the account that got £5.71 was £360, and the cash balances in those given £6.82 differed by about £200. So, the conclusion is that the allocation depends on the amount requested. It is not related to the cash balance.
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Post by Ace on May 21, 2021 8:07:34 GMT
I’ve got exactly the same yesterday. Asked for £100, cash balance was approximately £200 and allocated £5.71. My cash balance in the account that got £5.71 was £360, and the cash balances in those given £6.82 differed by about £200. So, the conclusion is that the allocation depends on the amount requested. It is not related to the cash balance. Hmm... thinking on 🤔. I may have been a bit hasty in my conclusion. It could be that the allocation depends on the larger of: the cash balance, and the requested amount. I'll run another test to determine.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on May 21, 2021 11:41:20 GMT
My cash balance in the account that got £5.71 was £360, and the cash balances in those given £6.82 differed by about £200. So, the conclusion is that the allocation depends on the amount requested. It is not related to the cash balance. Hmm... thinking on 🤔. I may have been a bit hasty in my conclusion. It could be that the allocation depends on the larger of: the cash balance, and the requested amount. I'll run another test to determine. Upped my lender level in all categories to test , loan today(878d) , £302 in cash account , £5 lent on loan.
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Post by df on May 21, 2021 13:02:56 GMT
Hmm... thinking on 🤔. I may have been a bit hasty in my conclusion. It could be that the allocation depends on the larger of: the cash balance, and the requested amount. I'll run another test to determine. Upped my lender level in all categories to test , loan today(878d) , £302 in cash account , £5 lent on loan. The loan is only £2173.05 - that’s £5 for everyone. You might see the difference when larger loans come in.
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Ukmikk
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Post by Ukmikk on May 21, 2021 13:40:46 GMT
Cash on my ISA account now about 40% and steadily rising.
Cash in smaller non-ISA account c12%.
Leaving cash in Isa in the hope of business picking up as I can't be bothered with the faff of transferring in and out.
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Post by Duane Dibley on May 21, 2021 14:50:34 GMT
Cash on my ISA account now about 40% and steadily rising. Cash in smaller non-ISA account c12%. Leaving cash in Isa in the hope of business picking up as I can't be bothered with the faff of transferring in and out. Flexible ISA so you can always withdraw and then redeposit if you need to.
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Post by df on May 21, 2021 18:06:19 GMT
My cash balance in the account that got £5.71 was £360, and the cash balances in those given £6.82 differed by about £200. So, the conclusion is that the allocation depends on the amount requested. It is not related to the cash balance. Hmm... thinking on 🤔. I may have been a bit hasty in my conclusion. It could be that the allocation depends on the larger of: the cash balance, and the requested amount. I'll run another test to determine. Please let us know the result. It was about 3 years ago when we established (it should be in one of the old threads) that both, settings and cash balance, are part of distribution algorithm. It would be interesting to know if this has changed to settings only.
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Post by Ace on May 21, 2021 18:13:19 GMT
Hmm... thinking on 🤔. I may have been a bit hasty in my conclusion. It could be that the allocation depends on the larger of: the cash balance, and the requested amount. I'll run another test to determine. Please let us know the result. It was about 3 years ago when we established (it should be in one of the old threads) that both, settings and cash balance, are part of distribution algorithm. It would be interesting to know if this has changed to settings only. Will do. Was inconclusive today as all allocations in all 3 accounts were flat £5.
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Post by df on May 21, 2021 19:16:05 GMT
Please let us know the result. It was about 3 years ago when we established (it should be in one of the old threads) that both, settings and cash balance, are part of distribution algorithm. It would be interesting to know if this has changed to settings only. Will do. Was inconclusive today as all allocations in all 3 accounts were flat £5. The same on my account - £5 for today. I thought of multiple accounts when UB introduced ISA, but decided against it (can't remember why). Main reason for considering this was to multiply the "five-pounders" 
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Ukmikk
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Post by Ukmikk on May 25, 2021 15:59:37 GMT
Cash on my ISA account now about 40% and steadily rising. Cash in smaller non-ISA account c12%. Leaving cash in Isa in the hope of business picking up as I can't be bothered with the faff of transferring in and out. Flexible ISA so you can always withdraw and then redeposit if you need to. Ahh, good point. Does that include previous years' deposits? Thanks.
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Post by Ace on May 25, 2021 16:28:54 GMT
Flexible ISA so you can always withdraw and then redeposit if you need to. Ahh, good point. Does that include previous years' deposits? Thanks. Yes. You can withdraw any amount, but it has to go back in the same account it came from by the end of the tax year it was withdrawn in to retain its Isa status.
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Ukmikk
Member of DD Central
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Post by Ukmikk on May 28, 2021 14:18:18 GMT
Ahh, good point. Does that include previous years' deposits? Thanks. Yes. You can withdraw any amount, but it has to go back in the same account it came from by the end of the tax year it was withdrawn in to retain its Isa status. . Ahh, I think I misunderstood the rules then. Many thanks guys, appreciated. I do hope UB manage to pick up a bit on lending levels, but not much sign of it happening thus far.
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