ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 18, 2015 16:18:45 GMT
The way I interpreted the prefunding change for sub 1M loans was this - the lowest bids get filled first. So if you bid too high then you might not get anything. That is not how I interpreted it. Imagine dealing a pack of card, giving one each in turn. A person will continue to get a new card until either all cards have been given out or that person reaches his pre-set maximum (pre-fund, whichever comes first).
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 18, 2015 16:20:39 GMT
PBL073 - Essex - now Live. I got my requested £2k. Where and when? I cannot see anything. Edit: got it now.
|
|
|
Post by solicitorious on Dec 18, 2015 16:23:35 GMT
I thought PBL073 is the last to be allocated under the old algorithm?
|
|
caesium
Member of DD Central
Posts: 86
Likes: 35
|
Post by caesium on Dec 18, 2015 16:26:50 GMT
Odd - I got an email saying I'd got £100, but I actually have £200 (two £100 lumps) - anyone else? :/
edit: hmm ok there's a second email congratulating me on another £100 pre-fund allocation. Why two allocations then?
|
|
scraggs
Member of DD Central
Posts: 75
Likes: 62
|
Post by scraggs on Dec 18, 2015 16:31:21 GMT
Yep something odd going on I prefunded and have double what I wanted, but Essex is still listed as pipeline
|
|
bjorn
Posts: 102
Likes: 39
|
Post by bjorn on Dec 18, 2015 16:31:28 GMT
Odd - I got an email saying I'd got £100, but I actually have £200 (two £100 lumps) - anyone else? :/ edit: hmm ok there's a second email congratulating me on another £100 pre-fund allocation. Why two allocations then? Others are reporting having this issue here
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Dec 18, 2015 21:59:15 GMT
Odd - I got an email saying I'd got £100, but I actually have £200 (two £100 lumps) - anyone else? :/ edit: hmm ok there's a second email congratulating me on another £100 pre-fund allocation. Why two allocations then? Others are reporting having this issue hereDidn't SS have a similar problem with PBL072? (Two emails with two near-identical allocations.) IIRC, they said the first one was an error and was later cancelled, so only the second one was real. This time, I got an email telling me to ignore any second email I might receive, but in fact I received only one. Did those of you that received two emails end up with both allocations? Or was one subsequently cancelled? It's probably been mentioned in another thread that I haven't read yet, but the fact that there's still a significant amount of PBL073 available explains why everyone got what they asked for. This is a huge loan, so this should have been expected. I hope there weren't many who looked at previous allocation factors and inflated their pre-funding for this loan, thus ending up with more than they really wanted.
|
|
mickj
Member of DD Central
Posts: 435
Likes: 191
|
Post by mickj on Dec 19, 2015 7:48:35 GMT
073 Essex filled out overnight (quarter went in one hit), I had the two emails but one allocation same as my prefunding setting. Edit: 073 the 1.2m back on this morningGreat thread, thanks for your time on this ilmoro
|
|
|
Post by ravado on Dec 21, 2015 13:53:25 GMT
Yes I wondered about the overnight disappearance of the Essex loan. I checked first thing in the morning and found the Essex loan had 'gone'. I therefore put £500 I wanted to get rid of on the 2ndary market and it was immediately snapped up. Next time I looked there was over a million £ still available. I guess I was lucky to get in while the loan was temporarily 'removed'!
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Dec 21, 2015 21:12:16 GMT
Um - I thought PBL074 was all ready to go and was being held back to allow PBL073 to sell off a bit. Perhaps tomorrow for PBL074?
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 21, 2015 23:32:40 GMT
Um - I thought PBL074 was all ready to go and was being held back to allow PBL073 to sell off a bit. Perhaps tomorrow for PBL074? No, they are waiting for me to earn the money to pay the prefunding on PBL074.
|
|
|
Post by solicitorious on Dec 23, 2015 15:01:54 GMT
savingstreamVery poor show in relation to the lack of update on PBL074...
|
|
micky
Member of DD Central
Posts: 660
Likes: 549
|
Post by micky on Dec 23, 2015 15:11:26 GMT
Agreed.
Have you been in touch with SS? I'm just wondering if they have made any comment; as I emailed them a few times before PbL 73 went live asking for an indication of new loan release dates and unusually they did not reply.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Dec 24, 2015 6:06:46 GMT
#73 is now drawn down.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Dec 28, 2015 19:50:44 GMT
Can someone help me out with the loan extension on PBL31? The notes above taken from the updates say:
The borrower has renewed this loan – all interest and fees have been paid for a further 6 months. 15/11 The borrower has found an investor to pay interest and fees for a further six months and it is in legals 23/10 The borrower has provided us with another £1.5m of security to lend against to fund their 6 month loan extension. In legals. Will update the platform accordingly. 13/10 Due soon, working with the borrower to refinance. Drawndown late April.
I believe the platform currently shows the original details with security value £710k and orginal loan £497k = 70% LTV. Loan to be repaid in April 2016.
My reading of the information is that the loan remains the same, the security is increased by £1.5m and the payback date has extended by 6 months. So this becomes:
Security value £2.21m, loan £497k = 22.5% LTV. Loan to be repaid in October 2016.
But something doesn't quite feel right here. Why would an additional security be offered against this loan if the original security was OK? And why would interest and fees be paid now if the original loan didn't expire until April?
So I think I must be misinterpreting something. I asked SS via the Q&A function but didn't receive a reply. SS said they would update the platform accordingly, but I'm quite sure the details shown are the original ones.
|
|