H****ey Br*****g L**n

I wonder if Assetz have a swear box!

Now here's a rum do.  There's £250k for sale on the AM so sellers outnumber buyers.  I liquidated my substantial holding in this loan before this situation arose, but then, observing that things seemed to have got on back on track, I bought back in a small way to see how it might go.  But the number of sellers still increased.  Now today, thinking that my £500 was neither here nor there, I thought there was no sense in keeping it so put it up for sale.  It was not going to sell quickly, if at all, as there was this £250k in the queue ahead of me.  But, damn me, it sold very quickly - and there is still over £250k for sale.  How did mine jump to the head of the queue?  I'm alright (Jack), but I would be annoyed if I was an owner of part of the £250k

Just after the updated platform software went live, Chris wrote this:  "For selling it works roughly in the same way as the old site where £100 chunks are allocated at random amongst all sellers. If the buyer is requesting less than £100 then the amount allocated in that random step is the amount requested."

If your 500 went then everyone else selling at least 500 will have sold that much too, I think, possibly more from larger sellers. It fills the order from the bottom up, which is slightly biased towards smaller lenders. It's just at about the same time you probably observed more people putting parts up for sale as well.

AIUI, if 10 people have parts for sale, split as 9 x £500 and 1 x 100k, a purchase of 10k will snap up all the £500s and £5500 of the 100k. Only from memory, but is that right chris?

Here's another possibility, which I hope isn't the answer...

You may have seen the 'Loan unit availability exceeds loan value' thread, where a couple of loans highlighted a bug in the way the number of Units Available was calculated.  Following the bug report, the response was...Unfortunately, it either wasn't a two minute fix or other jobs were deemed a higher priority, because five days later the amount of Lo**** Ret*** T2 units available on the Aftermarket was 113% of the capital remaining on loan.  At that time, I asked chris and andrewholgate ...We've had no response at all since then, so I haven't a clue whether the problem is thought to be fixed or not, so I don't know whether the units of Ha***** BL that are shown to be available are accurate or could be very wrong. 

Now that this loan has been extended for four months and the interest for that period is on deposit in the AC trust account, I was expecting that all available units would be snapped up by investors eager to have the 15% interest.  That does not appear to have happened, but I don't know whether that's really the case, or whether the numbers being reported are wrong.  chielamangus's experience of selling a small amount of this loan very quickly suggests it may be the latter case, and I'd really, really, like to know whether we should be believing the Units Available numbers or ignoring them.

I'm also very surprised by the lack of response from AC.  I really don't care whether or not the bug has been fixed already -- but I would like to know whether the numbers we're basing investment decisions on are correct or not.

I had a similar experience. I reduced my target for E, H & I to zero and my small holding in the first two was rapidly sold despite there appearing to be a large quantity on sale already. The last one however remains unsold.

Sounds similar to the situation on FC where if something did not go quickly it did not shift unless you removed it from sale and put it back up again.

I reduced my target in H to zero last night and it sold at 23.24. I did the same for E & I a couple of weeks ago with E going quite quickly but I still hasn't sold.