littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 17, 2015 16:51:20 GMT
I would have thought that it would have been appropriate for savingstream to bring this significant change to the attention of any investor who had a pre-bid in for this loan. I can understand that SteveT 's example holidaymaker wouldn't be pleased to find they had not been allocated a part of the loan. But neither would the investor who set a high pre-bid expecting the £500k loan to be many times oversubscribed be happy when they found out it had morphed into a £2.5M loan that wasn't oversubscribed at all, resulting in them being allocated many times what they had expected to get -- and receiving an email while on holiday telling them to resolve their significant negative balance ASAP! Sorry for those who oversubscribe. I think they would deserve it. If everyone stuck to what they really want there will not be any problems at all. If there are people who are creating the problem, they have to be responsible for their action. Perhaps it's a cunning SS plan to discourage the practice 
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jimbob
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Post by jimbob on Dec 17, 2015 17:17:42 GMT
I've actually stuck a min bid in now, had 0 in the pipeline for this before.
Peak London still looks peaky, but (who knows !) 1st charge better than 2nd in my eyes !
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ablender
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Post by ablender on Dec 17, 2015 17:30:46 GMT
I've actually stuck a min bid in now, had 0 in the pipeline for this before. Peak London still looks peaky, but (who knows !) 1st charge better than 2nd in my eyes ! "And what beautiful yellow eyes you have" said the wolf.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Dec 17, 2015 18:26:39 GMT
What I'd really like is a sherbert lemon - got any of those? 
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Post by ladywhitenap on Dec 17, 2015 18:44:57 GMT
Why do you keep cash in SS? It was the proceeds of a sale and I left it there expecting another loan going live. I don't normally keep cash here. My pre-bid upper limit is £45k and I'm not likely to use even 10% of that on a new holding. LW
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Post by ladywhitenap on Dec 17, 2015 18:46:05 GMT
What I'd really like is a sherbert lemon - got any of those? No Sorry - they give me mouth ulcers..... LW
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ablender
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Post by ablender on Dec 17, 2015 19:12:45 GMT
Why do you keep cash in SS? It was the proceeds of a sale and I left it there expecting another loan going live. I don't normally keep cash here. My pre-bid upper limit is £45k and I'm not likely to use even 10% of that on a new holding. LW I can take care of that money for you if you want.
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mikes1531
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Post by mikes1531 on Dec 17, 2015 21:32:26 GMT
If everyone stuck to what they really want there will not be any problems at all. I'm not convinced there would be no problems. If everyone stuck to asking for only what they really wanted, then when a loan is oversubscribed nobody would get what they really want. Some would say that's a fair result and it isn't a problem. Others would decide to ask for a bit more and hope to get what they really want. And that's where we are now. If you can't beat 'em, join 'em? 
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ablender
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Post by ablender on Dec 17, 2015 21:52:10 GMT
If everyone stuck to what they really want there will not be any problems at all. I'm not convinced there would be no problems. If everyone stuck to asking for only what they really wanted, then when a loan is oversubscribed nobody would get what they really want. Some would say that's a fair result and it isn't a problem. Others would decide to ask for a bit more and hope to get what they really want. And that's where we are now. If you can't beat 'em, join 'em? I have to disagree with you mikes1531. Each one of us is here to invest and make a profit. I will keep putting the amount I aim for, not more. Others, who want to "join 'em" may do so. Sharing from a single pie is not a problem. The problem is when greed takes over and individuals start gobbling, possibly more than they can chew.
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jonah
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Post by jonah on Dec 17, 2015 22:04:37 GMT
I've just totalled my pipeline numbers. If I get 100% then it is a number I can transfer to the platform within 24hrs, ie I could fund it all, even if they all went live on the same day (SS have stated a 3 loan a day max previously) and I couldn't sell a single part of any holdings, new or old, on the SM.
All that said, that would be a significant increase in my exposure on SS, beyond my level of risk comfort with the platform. Nothing against SS, but I would not put that number in any none Fscs backed organisation.
So, if the process can be improved a little so people are aiming around the 20% extra target instead of 300% or much more which we are today, it wouldn't hurt.
one nice thing I spotted on SS website earlier is they graph the investors against loan book over time. Currently, on the scales shown, we are actually in a point where the loans are growing faster than people.... Imagine the 'fun' we will have if that trend is reversed.
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adrianc
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Post by adrianc on Dec 17, 2015 23:09:21 GMT
Currently, on the scales shown, we are actually in a point where the loans are growing faster than people... I can easily believe that. There's over £21.5m of loans gone live since pre-funding started in September, and another £18.5m in the pipeline. There's £60m in the loanbook, total - and only £13m of repaid loans since the platform started.
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t
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Post by t on Dec 18, 2015 9:32:32 GMT
seems the flat in pl has changed from second charge
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awk
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Post by awk on Dec 18, 2015 11:25:13 GMT
Essex gone to stage 2 - whatever that means
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awk
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Post by awk on Dec 18, 2015 11:29:08 GMT
and the farm to 3
anyone understand the timeline beyond 3?
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SteveT
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Post by SteveT on Dec 18, 2015 11:54:36 GMT
and the farm to 3 anyone understand the timeline beyond 3? Unofficial final stage is "Pebble number added", which usually signifies same day (occasionally next day or two) launch
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