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Post by chris on Jan 13, 2014 17:04:23 GMT
New loan has been listed on the site starting Wednesday 15th at 11 (corrected from my initial announcement). This is a much smaller loan (£47,500) so I don't expect it to sit around for long. Should be a good test for our new DB infrastructure!
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oldgrumpy
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Post by oldgrumpy on Jan 13, 2014 17:06:24 GMT
What's DB? Double bananas  ? I'm in!! |
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Post by chris on Jan 13, 2014 17:09:08 GMT
What's DB? Double bananas ? I'm in!! I wish, far more mundane I'm afraid - it's short for Database. See this thread.
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Post by phlitb on Jan 13, 2014 17:26:21 GMT
New loan has been listed on the site starting tomorrow at 11. On the website it states "Starts 15th Jan 2014 at 11:00" rather than tomorrow?
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Post by chris on Jan 13, 2014 17:28:46 GMT
New loan has been listed on the site starting tomorrow at 11. On the website it states "Starts 15th Jan 2014 at 11:00" rather than tomorrow? Okay next time I announce things like this I shall try reading the announcement properly. You are correct  It's been a long week already, sorry everyone. Or maybe it was a cunning ploy to announce the wrong start time for the auction to keep down the load on our website.
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j
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Penguins are very misunderstood!
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Post by j on Jan 13, 2014 17:33:02 GMT
New loan has been listed on the site starting tomorrow at 11. On the website it states "Starts 15th Jan 2014 at 11:00" rather than tomorrow? Just about to point it out too phlitb.
Read the report very quickly. Looks interesting but there's a point that sticks out which I've raised with AC & await their reply. Will try to read in more depth later tonight before I ramble on ay further!
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j
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Penguins are very misunderstood!
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Post by j on Jan 13, 2014 17:37:45 GMT
PS like the idea of max bid of £1k in first 24 hours, sounds fairer to all lenders then if still capacity left, bigger fish can bid some more. you won't see that on other platforms (no names mentioned!) |
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mikes1531
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Post by mikes1531 on Jan 13, 2014 22:27:32 GMT
you won't see that on other platforms (no names mentioned!) Not quite true, as FS have adopted a similar policy.
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alison
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Sanctuary!!
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Post by alison on Jan 15, 2014 9:53:50 GMT
New loan has been listed on the site starting tomorrow at 11. On the website it states "Starts 15th Jan 2014 at 11:00" rather than tomorrow? I see this has quietly slipped back to 22nd January now.  Might as well take the money out of the account again.
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Post by chris on Jan 15, 2014 9:59:43 GMT
I see this has quietly slipped back to 22nd January now. Might as well take the money out of the account again. I'm not sure if this is the reason (I'm out the office today) but we have some big changes coming to the platform next week and I suspect that this auction has been pushed back to take advantage of those. I'll post more about the changes in the next few days once we're done with our testing and are ready to launch.
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j
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Penguins are very misunderstood!
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Post by j on Jan 15, 2014 10:30:55 GMT
I see this has quietly slipped back to 22nd January now. Might as well take the money out of the account again. I'm not sure if this is the reason (I'm out the office today) but we have some big changes coming to the platform next week and I suspect that this auction has been pushed back to take advantage of those. I'll post more about the changes in the next few days once we're done with our testing and are ready to launch. . Is that in terms of technical changes or in terms of more auctions starting next week, or both?
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 15, 2014 10:32:56 GMT
you won't see that on other platforms (no names mentioned!) Not quite true, as FS have adopted a similar policy. not heard of fs before today, was alluding to more established players with my comment
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Post by chris on Jan 15, 2014 10:34:01 GMT
I'm not sure if this is the reason (I'm out the office today) but we have some big changes coming to the platform next week and I suspect that this auction has been pushed back to take advantage of those. I'll post more about the changes in the next few days once we're done with our testing and are ready to launch. . Is that in terms of technical changes or in terms of more auctions starting next week, or both? Should be both
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Post by Deleted on Jan 15, 2014 11:27:38 GMT
I would imagine the auction has been postponed because, frankly, it is a complete dog's breakfast. I have never seen such an incompetent proposal. If I were boss there, the <snip_redactedByModerator> responsible for the credit report would at minimum be given a final warning, and <snip_redactedByModerator> . Non-sequitors, inconsistencies in the data, a confused jumble of information about various properties, even a spelling mistake, and it is called a credit report! They either did not read what they had written, or if they did, they did so with their minds engaged elsewhere. Schoolboy standard.
As a result of this report I may be doing the <snip_redactedByModerator> an injustice but they seem to be living in cloud cuckoo land. I spent 9 months working on a farm and learned a lot about milking cows but it hardly qualified me to run the farm. What is this experience of Mr <snip_redactedByModerator> - fishing out and feeding? Those ponds have to be renovated and then restocked, and managed, and then the public has to be persuaded to come and fish there. Given the current state, there won't be much income generated there for a year to two. Also, it seems it was a fish farm - not a leisure fishery - the two are completely different, and the ponds for one are unlikely to be suitable for the other.
And it does not say much for the energy of Mr <snip_redactedByModerator> if he was content to live for 4 years off the proceeds of some previous investment. And is that a working tax credit he gets every month? Say no more.
I know the loan does not depend upon a profitable business as the loan is apparently more than covered by the property valuation (another thing I did not understand as the LTV is 64 per cent but the charges on property value are 60k plus 114k from a Wirral house (174k) and the loan is about 47k) but I do foresee long delays in extracting the money as property is sold and a tortuous legal process undergone, so that my money will be tied up without earning interest for a long time.
Definitely not for me.
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Post by empyrean on Jan 15, 2014 14:34:38 GMT
I would imagine the auction has been postponed because, frankly, it is a complete dog's breakfast. I have never seen such an incompetent proposal. If I were boss there, the <snip_redactedByModerator> responsible for the credit report would at minimum be given a final warning, and <snip_redactedByModerator> . Non-sequitors, inconsistencies in the data, a confused jumble of information about various properties, even a spelling mistake, and it is called a credit report! They either did not read what they had written, or if they did, they did so with their minds engaged elsewhere. Schoolboy standard.
As a result of this report I may be doing the <snip_redactedByModerator> an injustice but they seem to be living in cloud cuckoo land. I spent 9 months working on a farm and learned a lot about milking cows but it hardly qualified me to run the farm. What is this experience of Mr <snip_redactedByModerator> - fishing out and feeding? Those ponds have to be renovated and then restocked, and managed, and then the public has to be persuaded to come and fish there. Given the current state, there won't be much income generated there for a year to two. Also, it seems it was a fish farm - not a leisure fishery - the two are completely different, and the ponds for one are unlikely to be suitable for the other.
And it does not say much for the energy of Mr <snip_redactedByModerator> if he was content to live for 4 years off the proceeds of some previous investment. And is that a working tax credit he gets every month? Say no more.
I know the loan does not depend upon a profitable business as the loan is apparently more than covered by the property valuation (another thing I did not understand as the LTV is 64 per cent but the charges on property value are 60k plus 114k from a Wirral house (174k) and the loan is about 47k) but I do foresee long delays in extracting the money as property is sold and a tortuous legal process undergone, so that my money will be tied up without earning interest for a long time.
Definitely not for me.
I'm in complete agreement with you. The reports were poorly written and full of inconsistencies. In addition to the nonsensical LTV calculation, we're also told that the interest payments will be paid for with Mrs <snip_redactedByModerator> salary, yet it also states she's on sick leave due to a whiplash injury, and wouldn't be returning to work (and presumably to her full salary) until January 2014. Well, it's January 2014: is she back at work? If so, perhaps she could explain how her £36k annual salary computes to a £1.2something thousand net monthly income. There were other such gaps in reasoning and arithmetic which I can no longer remember, as frankly the above sealed it as a write-off for me. One detail that did cause my eyebrow to raise, though, was that the Wirral property was allegedly being sold to Mr/Mrs <snip_redactedByModerator> daughter.
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? I'm in!! 
