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Post by connectivelending on Dec 17, 2021 15:18:14 GMT
Hi Ace, I see your point and would deem this (if it was the case) to be an unfair practice to other users. I have asked our tech team to setup a bot detection to see if we can spot any anomaly around restriction timelines. We will also study our data internally to see what happens around the time of lifting restrictions to see if we can identify any similarities. Hi jcb08, A 2nd time round bid limit has been investigated however, to date, we have reframed from implementing this based on current investor levels. We must be careful to balance the lender and borrower requirements when using our services. Borrowers using our lending arm are looking for a quicker draw-down upon approval of loans. Currently, a 2nd round of bid limits we feel would delay draw-down times based on the current lender pool. With an increased pool of investors, we would expect 2nd round bid limits to work better in certain situation while still meeting borrowers’ expectations to draw-down. We will continue to review this position ongoing. Kind Regards Noman
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trium
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Post by trium on Jan 28, 2022 13:20:56 GMT
Once again the bid limit on today's Jaeger loan was not lifted at the expected time. Once again I sat refreshing the page fruitlessly and wondering how long I should keep this up. Once again my bid was rejected because the remaining amount in that tranche was £50 less than I was looking for, allowing someone else to snap up what was left. Once again the entire loan vanished while I was resubmitting a revised bid.
I'm really cheesed off with this system.
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Ace
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Post by Ace on Jan 28, 2022 13:42:30 GMT
Once again the bid limit on today's Jaeger loan was not lifted at the expected time. Once again I sat refreshing the page fruitlessly and wondering how long I should keep this up. Once again my bid was rejected because the remaining amount in that tranche was £50 less than I was looking for, allowing someone else to snap up what was left. Once again the entire loan vanished while I was resubmitting a revised bid. I'm really cheesed off with this system. Same here.
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Bagman
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Post by Bagman on Jan 28, 2022 13:55:13 GMT
Would a second period of restricted bidding of another two hours at the same level make sense ?
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tomg
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Post by tomg on Jan 28, 2022 14:24:17 GMT
Once again the bid limit on today's Jaeger loan was not lifted at the expected time. Once again I sat refreshing the page fruitlessly and wondering how long I should keep this up. Once again my bid was rejected because the remaining amount in that tranche was £50 less than I was looking for, allowing someone else to snap up what was left. Once again the entire loan vanished while I was resubmitting a revised bid. I'm really cheesed off with this system. Same here. And me - very frustrating to have to remember to bid at a particular time, then the bidding not being lifted, then discovering that everything had gone. It's a poor system that will only become more frustrating as time goes on.
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tallsuk
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Post by tallsuk on Jan 28, 2022 14:29:47 GMT
Would a second period of restricted bidding of another two hours at the same level make sense ? That would be a good option or another might be having slightly higher limits and only an hour between. I dont like the first two hours having a really small restriction and then it being a free for all when the two hours are up. Todays loan could have easily had a £200 restriction for an hour and then a further £200 for a second hour. I have been lucky in the past and grabbed some big chucks but other times missed out but this means I have larger shares in a smaller number of loans which I would really rather avoid.
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alibaba
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Post by alibaba on Jan 28, 2022 14:42:00 GMT
I am afraid I don't have the patience to continue investing, time consuming and frustrating, a real shame I like the general principle but not the execution.
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trium
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Post by trium on Jan 28, 2022 17:02:12 GMT
Would a second period of restricted bidding of another two hours at the same level make sense ? That proposal was addressed by CL higher up the thread (immediately before my post this morning). They appear dismissive of it. Given that we used to harp on at FS over the same issue, without resolution, I suspect the pain will remain. Tagging connectivelending for comment
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Post by mfaxford on Jan 28, 2022 19:54:01 GMT
Would a second period of restricted bidding of another two hours at the same level make sense ? Based on today I'd like a lower limit and longer. I didn't get a chance to try investing until lunchtime at which point everything had gone. Trying to a piece of loans that launch at 11am when at work doesn't work too well - Especially when the mobile signal at work fluctuates between terrible and non existent. Actually I wonder if a totally different system whereby the limit exists for longer, but where we all enter a maximum bid. At the end of the restricted period the loan is filled by taking equal amounts from each bidder (up to their maximum, and ordered by time of bidding). For a popular small loan then it might mean that we all only get a £25 or £50 investment, for a larger loan then most could get what they desire. An extension of that might be to allow selection of whether funds can only be used in the desired tranche, or whether they can be used against a lesser tranche when the preferred tranche has been filled.
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Greenwood2
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Post by Greenwood2 on Jan 28, 2022 20:38:30 GMT
For me unless it's a big loan it's really not worth the hassle.
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