investibod
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Post by investibod on Mar 30, 2016 11:39:45 GMT
I can appreciate your frustration, however whilst from a borrower perspective the likes of the AE & CS loans are continuous, from a lender perspective they are treated as new loans each 6 months in length (with the option for lenders to opt-out of rolling over their capital). As such we need to be able to identify them differently, but there might be something here we can do to maintain the original IDs. Will review. With respect to the MT 6 month loans that are renewed - these are undertaken with new Loan Agreements with the borrower (non continuous), and therefore these should be new IDs. Kind regards, Ed Maybe it might work to have the renewal as a postfix on the loan name. e.g. for a loan with a base name of CSP123 - First 6 months is CSP123000, first renewal is CSP123001, second renewal CSP123002, etc. With 3 digits this would only last for 500 years, but hopefully by then a better system could be in place. Either way I expect to be long gone by then. Anybody wanting to keep the various renewals as one in a spreadsheet would just need to truncate the last tree digits to keep a consistent loan number.
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Post by MoneyThing on Mar 30, 2016 14:45:51 GMT
MoneyThing I haven't read this complete thread so sorry if this has already been brought up, on the "My Repaid Loans" tab one of the columns is headed "Interested Expected", as the loans have been repaid shouldn't this be "Interest Received". I'm not a fan of having the renewed loans renumbered, it makes a lot of work for me now to go back through my list and renumber them all - a pain in the rear Now fixed. Regards, Ed.
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rogerbu
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Post by rogerbu on Mar 30, 2016 15:10:34 GMT
MoneyThing. Ed. When did existing holders of a loan get blocked from bidding on a renewal of that loan?
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paulg
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Post by paulg on Mar 30, 2016 15:35:43 GMT
MoneyThing . Ed. When did existing holders of a loan get blocked from bidding on a renewal of that loan? MoneyThing. Same problem here. Is this a change of policy, or an unintended result of the change to allow multiple bids up to the bid limit in the first 24 hours?
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stevio
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Post by stevio on Mar 30, 2016 15:39:02 GMT
MoneyThing When loans are limited to an bid amount within 24hrs and you have that amount or more rolling over, it would still be nice to be able to bid up to the maximum bid amount (which you can't currently do), otherwise you are unlikely to be able to increase your share in a loan EDIT: see already mentioned above
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Post by MoneyThing on Mar 30, 2016 16:00:31 GMT
Afternoon & paulg (on the other thread), When we changed the system so that it allowed multiple bids with a combined total up to the 'bid limit', this meant that those that rolled over their capital and this amounted to >'bid limit', then the option to invest is not available since the platform now calculates the total. (e.g. if the limit is £100 and you roll over £60 from the previous loan then the investible amount on the new loan is £40). The previous system system of 1 bid up to 'bid limit' per 24hrs meant that you could place a new bid upon renewal even if you already rolled over the capital from the previous loan (since it was a new 24hr period). I appreciate the effect this has caused, however we did consider it also to be perhaps fairer to new investors. We will do our uttermost to see if we can come up with something to cater for both. Regards, Ed
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SteveT
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Post by SteveT on Mar 30, 2016 16:05:14 GMT
The new system seems fair enough to me, given that renewals are officially "new loans"
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Post by Butch Cassidy on Mar 30, 2016 16:08:47 GMT
Afternoon & paulg (on the other thread), When we changed the system so that it allowed multiple bids with a combined total up to the 'bid limit', this meant that those that rolled over their capital and this amounted to >'bid limit', then the option to invest is not available since the platform now calculates the total. (e.g. if the limit is £100 and you roll over £60 from the previous loan then the investible amount on the new loan is £40). The previous system system of 1 bid up to 'bid limit' per 24hrs meant that you could place a new bid upon renewal even if you already rolled over the capital from the previous loan (since it was a new 24hr period). I appreciate the effect this has caused, however we did consider it also to be perhaps fairer to new investors. We will do our uttermost to see if we can come up with something to cater for both. Regards, Ed I'm all for encouraging new lenders & helping them diversify (that's what the SM is for) not quite so happy at penalising existing lenders to achieve this Who was it that supported the platform when it was less popular & untested - the existing lenders - who have now established holdings that are usually larger than any new bid limits, so preventing them any new investment is not exactly the thank you they had in mind. MT have usually consulted & made sensible & informed decisions but on this I would urge an immediate rethink.
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investibod
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Post by investibod on Mar 30, 2016 16:12:55 GMT
Initially I thought this was a bug. Then I thought that it was a bad design choice. Now I am not sure if I like the idea or not. I can see arguments for both sides.
However, I think if fair to say that non of the investors knew that this was a consequence when MT changes the rules to allow more than one bid up to the maximum. This is a very rare occasion when the communication from MT could have been better.
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Post by MoneyThing on Mar 30, 2016 16:26:08 GMT
My apologies - I should have communicated this better. Regards, Ed.
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pom
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Post by pom on Mar 30, 2016 16:34:42 GMT
Whilst it would have been good if this could have been effectively communicated, my view is that given the original allocations all seem to be significantly higher than renewal allocations I have no problem with newbies getting a slightly better chance of getting their toe in the door.
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paulg
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Post by paulg on Mar 30, 2016 16:41:26 GMT
Thanks for explaining this Ed.
On reflection I don't have a problem at all with this way of working it. As has been said, there are two sides to the way of looking at it. I just wasn't expecting it, and so was a bit frustrated at not being able to bid at 4.00pm today.
One positive is that it will give new investors - especially those who are a little slower at bidding - a better chance of getting into the older loans.
Now that I know what to expect I'd say leave it as it now is.
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investibod
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Post by investibod on Mar 30, 2016 19:50:25 GMT
My apologies - I should have communicated this better. Regards, Ed. Quite understood. This only stood out as your level of communication is normally so good.
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Post by MoneyThing on Mar 30, 2016 20:36:58 GMT
Evening,
We have just implemented a new release for future renewals whereby it will now ignore the rolled over amount in terms of calculating the maximum total bid(s) up to max bid. Therefore this release allows existing investors to increase their holdings whilst also allowing multiple bids (up to max bid).
I apologies again for the lack of clarity on the previous release and hopefully the new version will suit the majority.
Kind regards,
Ed
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SteveT
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Post by SteveT on Mar 30, 2016 21:21:45 GMT
MoneyThing Ed, at some point could you please add a "Cashback received" total at the top of the Funds - Statement page (as per the "Interest received" total). Thanks!
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