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Post by valueinvestor123 on Feb 3, 2015 12:55:54 GMT
Just signed up with SS and there don't seem to be any loans available (all fully funded). Is this common or just at a certain time of the month?
When do new loans typically go live and do they send out notifications? Bit tired of waiting and missing FS loans.
Thanks, vi123
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indy
Member of DD Central
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Post by indy on Feb 3, 2015 13:31:07 GMT
VI123
There is no pattern as to when loans are launched on the ss platform. There were two launched yesterday but you have to be quick, the first one for £200k filled in 34 mins, the second one took a few hours and was for £600+k.
You can activate sms messages on your dashboard so you know when loans are launched. The weekly update gives an idea of loans in the pipeline which gives a rough idea when loans are going to be launched.
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Post by valueinvestor123 on Feb 3, 2015 13:41:20 GMT
Thanks, didn't know about the sms facility, quite handy.
Does it matter if one invests everything in one loan or is it still better to spread, from risk point of view? (My understanding is that we are effectively lending to lendit, rather than each company.)
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oldgrumpy
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Post by oldgrumpy on Feb 3, 2015 13:49:23 GMT
Spread.
Not so easily done, but....
When a new loan is announced, there will be a lot of investors wanting a slice of it, so you will need to be quick. BUT...
There will also be people selling parts of earlier loans (not all old ones about to mature - or cause problems) in order to transfer their funds to a newer deal.
These will show up as available on the loans page for quite a while after a new one is announced, so you can do quite a bit of mopping up in order to diversify in a new portfolio.
Avoid taking up front interest on new loans if you want to retain the right to sell on your own holdings at a later date before maturity. if you take it, you are locked into it until maturity and final repayment.
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Post by duncandive on Feb 3, 2015 13:54:12 GMT
Thanks, didn't know about the sms facility, quite handy. Does it matter if one invests everything in one loan or is it still better to spread, from risk point of view? (My understanding is that we are effectively lending to lendit, rather than each company.) You understaning is correct at this moment in time. There are plans/hopes for this to be updated some time soon. For now my advice (very New to SS and P2P myself) is that if a new Loan goes Live and you have nothing else invested. You could do well to over purchase on that loan with the aim of puting parts of it back onto the 'secondary market' when other options become available. At least that way you will be earning interest and the secondary market is Very quick at selling loan parts. That is how I have managed to get a piece of almost every one on the list in just over a month. Welcome to Saving Stream by the way 
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Post by duncandive on Feb 3, 2015 13:57:51 GMT
oldgrumpy always seems to give good advice. He is one of the members I tend to take time to read..
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Post by valueinvestor123 on Feb 3, 2015 13:59:05 GMT
Thanks. How much does it cost to sell loan parts? (couldn't find info on their website) and are there premiums or discounts applied? (like in FC etc).
Can problem loans be sold or is this irrelevant?
How did you manage to get invested in every loan? Is there an autobid somewhere?
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Post by duncandive on Feb 3, 2015 14:05:16 GMT
Thanks. How much does it cost to sell loan parts? (couldn't find info on their website) and are there premiums or discounts applied? (like in FC etc). Can problem loans be sold or is this irrelevant? How did you manage to get invested in every loan? Is there an autobid somewhere? Selling loan parts is Free. You can even sell a part of a 'Loan Part', so long as it is at least £50. There is even a work around for selling under £50 bits too. As for getting such a complete spread... right time right place and Luck must be part of it I'm sure. I just popped in when ever I got a chance, made sure I had some funds always available, as some times in the few seconds it takes to get 'virtual funds' the chance to invest was taken by some one else. Plus I did a LOT of Reading of all the Loan Details, so that I already knew what they were about when the chance came along...
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unmadem
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Post by unmadem on Feb 3, 2015 14:21:06 GMT
Although selling does not have a fee there is a cost. You do not earn any interest on the value you are selling for the period it is up for sale. So if it takes a day to sell you lose a days interest, if it takes a month you lose a months interest. In practice things seem to sell fast but that is probably dependant upon SS continuing to attract new lenders who wish to get a diversified portfolio quickly.
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Investor
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Post by Investor on Feb 3, 2015 16:23:11 GMT
Thanks. How much does it cost to sell loan parts? (couldn't find info on their website) and are there premiums or discounts applied? (like in FC etc). Can problem loans be sold or is this irrelevant? How did you manage to get invested in every loan? Is there an autobid somewhere? And in answer to your second part, premiums and discounts cannot be applied. You sell at the rate you bought. SM at SS in very liquid and due to the above there is no value to flipping, a positive as far as I am concerned. There is no autobid, purely fastest finger first. With SS you snooze, you lose (and sometimes you get grumpy ;-))
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Post by valueinvestor123 on Feb 6, 2015 23:49:41 GMT
Btw why is there occasionally a negative amount in 'Live Loans'? Can you fund more than required? Currently it's showing as -£754
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 7, 2015 0:49:06 GMT
Btw why is there is occasionally a negative amount in 'Live Loans'? Can you fund more than required? Currently it's showing as -£754 Its where two lenders have both invested in a the last bit of a loan effectively simultaneously. There is a slight lag in the system so it doesnt immediately register the last bit has gone after the first bid occurs so the second bid also initially shows as successful. Often the first bid isnt for the full outstanding amount so when the second arrives there is still part of the loan available but not as much as the full bid so it goes neg. SS will manually reverse the second bid to zero the outstanding amount. Currently 22, 20, 12 & 6 all have overfunding.
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Post by valueinvestor123 on Feb 7, 2015 10:45:57 GMT
I see. Is it common to use 'bots' to gobble up the loan parts? Whenever I see few hundred ££ available they are gone before I can click a button. I wonder how they do it. No wonder some are funded simultaneously.
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Post by duncandive on Feb 7, 2015 12:18:26 GMT
I see. Is it common to use 'bots' to gobble up the loan parts? Whenever I see few hundred ££ available they are gone before I can click a button. I wonder how they do it. No wonder some are funded simultaneously. All I can say is that I took a look this morning and saw a chance and since I had some funds available, I grabed a slice. I think it tends to be a case of 'Right Time, Right Place' as far as I can tell. Sorry if you missed out this time. Just pop in when ever you have a minute or two to spare and with Luck you will get more chances.
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paulgul
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Post by paulgul on Mar 5, 2015 19:34:58 GMT
I hope you don't mind me coming in on this thread, as a complete newbie to P2P in general I haven't actually signed up to anyone at the moment.
With SS are the loans that I would be investing in be all of the same length or do they vary, I was looking at the Funding Secure site and their loans seem to be for a 6 month period, just wondered if SS are the same.
Assuming I fund my SS account with a set amount ready for action and for whatever reason I'm unable to lend it all can I retrieve that money easily.
Their web site seems very slim in information of how the whole process works for newbies like myself, perhaps I need to sign up first and then more info will be forthcoming.
Any extra info/advice would be welcome
Paul
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