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Post by brummiefred on Nov 3, 2021 22:27:47 GMT
I imagine it is not entirely in CP's hands. If I were a Developer/Borrower who has made an application for funds then I would want to be sure they were available, much like we do when applying for a mortgage but don't need the funds until some future date when all the ducks are aligned.
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Post by Ace on Nov 3, 2021 23:48:07 GMT
I imagine it is not entirely in CP's hands. If I were a Developer/Borrower who has made an application for funds then I would want to be sure they were available, much like we do when applying for a mortgage but don't need the funds until some future date when all the ducks are aligned. That's a fair point, but given that CP loans have been fully funded within 5 minutes of being released for a couple of years now, they can give the borrower concrete assurances once they've done their DD. They can tell from the autolend balances how much ready funds are instantly available, after making an allowance for the likely number of skippers.
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firedog
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Post by firedog on Nov 4, 2021 7:23:15 GMT
I imagine it is not entirely in CP's hands. If I were a Developer/Borrower who has made an application for funds then I would want to be sure they were available, much like we do when applying for a mortgage but don't need the funds until some future date when all the ducks are aligned. But that would be understandable if CP were taking weeks to get funding, as it was at the very start. Now, as Ace says, they're getting funds from lenders within seconds so there's no reason the fundraising can't take place later in the process. Think I've got one project I pledged to at the start of September that I'm still not earning interest on.
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ton27
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Post by ton27 on Nov 4, 2021 16:57:38 GMT
Agreed, it is irritating but so far my experience with CP has been OK and thus willnot be withdrawing funds.It is already difficult to maintain both diversification and utilisation of funds
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markyg61
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Post by markyg61 on Nov 4, 2021 17:25:25 GMT
I imagine it is not entirely in CP's hands. If I were a Developer/Borrower who has made an application for funds then I would want to be sure they were available, much like we do when applying for a mortgage but don't need the funds until some future date when all the ducks are aligned. But that would be understandable if CP were taking weeks to get funding, as it was at the very start. Now, as Ace says, they're getting funds from lenders within seconds so there's no reason the fundraising can't take place later in the process. Think I've got one project I pledged to at the start of September that I'm still not earning interest on.
Pahh ! I've got 16 not started, not earning
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Post by overthehill on Nov 4, 2021 21:04:02 GMT
But that would be understandable if CP were taking weeks to get funding, as it was at the very start. Now, as Ace says, they're getting funds from lenders within seconds so there's no reason the fundraising can't take place later in the process. Think I've got one project I pledged to at the start of September that I'm still not earning interest on.
Pahh ! I've got 16 not started, not earning
I'm shocked by that and not a peep from CP about what's going on. I noticed a recent loan did state a start date of 23nov so I didn't invest (or try to invest), at least they are being more upfront but with no explanation. It can't go on like that, weeks with no interest earned. A month's lost interest for a 1 year loan turns 7.5% into 6.875%.
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Post by Ace on Nov 4, 2021 21:26:46 GMT
But that would be understandable if CP were taking weeks to get funding, as it was at the very start. Now, as Ace says, they're getting funds from lenders within seconds so there's no reason the fundraising can't take place later in the process. Think I've got one project I pledged to at the start of September that I'm still not earning interest on.
Pahh ! I've got 16 not started, not earning
Are you sure these are unique loans? I thought I had a share in most recent loans, but I "only" have 11 unique committed loans waiting to draw down including today's. I have 16 if I count duplicates, I.e. Standard and ISA, or Manual and Auto.
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markyg61
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Post by markyg61 on Nov 5, 2021 7:09:32 GMT
Pahh ! I've got 16 not started, not earning
Are you sure these are unique loans? I thought I had a share in most recent loans, but I "only" have 11 unique committed loans waiting to draw down including today's. I have 16 if I count duplicates, I.e. Standard and ISA, or Manual and Auto.
14 distinct loans, some manual, some auto but not both. Earliest "Loan Start" date 16/09/22 - Land W*** ** H******** F***
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firedog
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Post by firedog on Nov 5, 2021 9:29:26 GMT
Are you sure these are unique loans? I thought I had a share in most recent loans, but I "only" have 11 unique committed loans waiting to draw down including today's. I have 16 if I count duplicates, I.e. Standard and ISA, or Manual and Auto.
Earliest "Loan Start" date 16/09/22 - Land W*** ** H******** F*** Yes that's the one I'm waiting on. Actual pledge date was 31 AUGUST.
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Post by Ace on Nov 5, 2021 11:41:03 GMT
Earliest "Loan Start" date 16/09/22 - Land W*** ** H******** F*** Yes that's the one I'm waiting on. Actual pledge date was 31 AUGUST. That's shocking. More than a 2 month delay on a 12 month loan is unacceptable. It makes a total mockery of the quoted rate. Have you contacted CP for comment. They don't seem to reply on here any more.
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zlb
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Post by zlb on Nov 8, 2021 17:41:17 GMT
would this explain why there's been not transactions on my fully invested account since March21?
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Post by overthehill on Nov 8, 2021 18:15:32 GMT
would this explain why there's been not transactions on my fully invested account since March21? not sure what you mean ? Please elaborate ? The thread is referring to new loans not earning interest while they take ages to drawdown
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zlb
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Post by zlb on Nov 8, 2021 18:48:33 GMT
would this explain why there's been not transactions on my fully invested account since March21? not sure what you mean ? Please elaborate ? The thread is referring to new loans not earning interest while they take ages to drawdown
From March onwards, no interest payments are recorded. I downloaded it to check and the data is the same as on screen. There has been the odd pledge about once per month. So I'm wondering whether I'm seeing evidence of what people are discussing here - but, if I have no transactions at all for 8 months, that implies that every single project is new and not paying anything?
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Post by overthehill on Nov 8, 2021 19:59:47 GMT
not sure what you mean ? Please elaborate ? The thread is referring to new loans not earning interest while they take ages to drawdown
From March onwards, no interest payments are recorded. I downloaded it to check and the data is the same as on screen. There has been the odd pledge about once per month. So I'm wondering whether I'm seeing evidence of what people are discussing here - but, if I have no transactions at all for 8 months, that implies that every single project is new and not paying anything? Sounds like all your loans pay accrued interest i.e. when the loan is repaid. Some loans pay interest monthly, probably in the minority. If your loans are in the Started tab then they are earning interest.
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firedog
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Post by firedog on Nov 8, 2021 20:20:41 GMT
Yes that's the one I'm waiting on. Actual pledge date was 31 AUGUST. They don't seem to reply on here any more. They don't seem to keen to reply to emails either.
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