Liz
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PBL55
Sept 2, 2015 16:37:42 GMT
via mobile
Post by Liz on Sept 2, 2015 16:37:42 GMT
So if we want £1k, we need to set our limit at £3k!
On this loan. We'll never know what the total pre-funding is on each individual loan, so can't assess how much to oversubscribe to get our real requirement.
Incidentally I just saw a bit on the market and dived in, but now it appears a few others did the same, so it's overfunded. No doubt I wasn't first in the Q! How long before I am told and my cash comes back into my available balance, I wonder.
PS I don't want the swamp either.
10 X then just to make sure like Pepperpot said. Any deficit I dont meet will be reversed out by Saving stream.
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SteveT
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Post by SteveT on Sept 2, 2015 16:39:36 GMT
I'm really struggling to understand why a straight % allocation has been applied when the proposed allocation process was described in such clarity and detail by savingstream in their announcement the other week: Potentially complicated numbers stuff coming up…
For example - you set your limit to £1k. There are 400 people who have the same limit and 40 with a limit of £10k. A loan of £1m is launched. All 440 people will get £1k (£400k total) and the 40 people with higher limits will get an additional £9k each in the surplus thus they get £10k in total. The remaining availability will go to the market and can be bought by whoever wants it.
It will become complicated when the loan is less than the amount in the Pre-Fund pot i.e £500k loan, 400 people with £1k, and 40 with £10k. Again, all 440 people will get £1k leaving £60k to divide by the 40 which is an additional £1.5k each, giving a total investment of £2.5k for those investors who set their limit higher.
Those investors with higher limits might be disappointed that they didn't get their full allocation, but they should be happy that they have participated in an equitable distribution model which should assist with the growth and opportunities available. The next loan might be able to take all of their demand plus more. |
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PBL55
Sept 2, 2015 16:39:58 GMT
Post by sterilized on Sept 2, 2015 16:39:58 GMT
I agree wholeheartedly. Smaller investors should get their full chunk and the big hitters the bits. It's a shambles. Same here... I would have thought for someone to get a £39k slice of a £625k cake (that's over 6%) is rather against what SS had lead us to believe how it would work out. Seems Big Money Wins AGAIN... I wonder if Any of the Smallest Investors actually received their Full Pre-funding amount...? No I received exactly the same allocation as everyone else. However I would also like to point out that if everyone upped their pre funding limit by 3 then we would still have all received the same amount in this loan. Approx 13% instead of 39% as the total pre fund level would have been that much higher. Then at the next loan we would all be saying we will have to up our pre funding levels by a factor of 3 again.
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Post by savingstream on Sept 2, 2015 16:40:24 GMT
In hindsight, we think the most equitable way of dividing the oversubscribed loans was to divide it equally as a proportion of the upper limit for each investor.
Mr £100 upper limit will get exactly the same % proportion as Mr £100k upper limit.
We think thats the 'fairest' way of splitting it each loan.
The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2.
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SteveT
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Post by SteveT on Sept 2, 2015 16:42:48 GMT
In hindsight, we think the most equitable way of dividing the oversubscribed loans was to divide it equally as a proportion of the upper limit for each investor. Mr £100 upper limit will get exactly the same % proportion as Mr £100k upper limit. We think thats the 'fairest' way of splitting it each loan. The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2. Not once everyone has tripled their pre-funding levels 
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pom
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PBL55
Sept 2, 2015 16:43:14 GMT
Post by pom on Sept 2, 2015 16:43:14 GMT
Agree this does not seem to have worked as it was explained in previous posts, I expected as a small player to get my full allocation not 1/3. Also I now have the bizarre scenario that I have a BAC deficit of £13.25 when the minimum deposit amount is £100 ?? I have a similar issue due to having a balance already in my account. How does savingstream propose we address this? Deposit £100 and immediately withdraw the balance? Seems clunky. I'd also like to register my disappointment that the pre-funding was not in line with what had been promised by savingstream for smaller investors. However, I realise that our £100k man might have been disappointed to receive a tiny fraction of his pre-funding bid if it had not been strictly pro-rata. I'll be upping my pre-funding limit and using the SM, like others. Surely as far as the BACs deficit is concerned they've already created it - and it's the SS end that has restrictions on amounts - there's no restriction on what we can send from our banks Agree it wasn't what was promised tho..
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arbster
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PBL55
Sept 2, 2015 16:43:15 GMT
Post by arbster on Sept 2, 2015 16:43:15 GMT
The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2. Is that before or after we all turned off PF because we don't like the look of one of those two loans? It would have been nice if you'd told us about the change in your thinking before going live with it - I realise we were privileged to get a more detailed description of how it worked, but when I turned out not to be the way it works at all, it's not a privilege any more...
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PBL55
Sept 2, 2015 16:44:23 GMT
Post by wildlife2 on Sept 2, 2015 16:44:23 GMT
Can we go back to pre pre-funding?  (The good old days of boat loans and just 500 members!)
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paulgul
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Post by paulgul on Sept 2, 2015 16:45:02 GMT
In hindsight, we think the most equitable way of dividing the oversubscribed loans was to divide it equally as a proportion of the upper limit for each investor. Mr £100 upper limit will get exactly the same % proportion as Mr £100k upper limit. We think thats the 'fairest' way of splitting it each loan. The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2. Its a pity you didn't put this in the other thread, you just seem to be changing the rules as you go along. It doesn't give much confidence in your company if we never know what you're going to do from one day to the next - Very disappointed
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alan
Posts: 55
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Post by alan on Sept 2, 2015 16:48:30 GMT
Personally dont think this is right on two fronts. The process was not as described for one. My second point would be there should be notice beforehand, like another user I changed my prefunding to reflect what was likely to be the next loan. I know its not ideal for everybody but for those who have prefunding set ON should receive an email beforehand even if only an hour or so. Not a great intro for me to SS  Alan |
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Sept 2, 2015 16:48:57 GMT
In hindsight, we think the most equitable way of dividing the oversubscribed loans was to divide it equally as a proportion of the upper limit for each investor. Mr £100 upper limit will get exactly the same % proportion as Mr £100k upper limit. We think thats the 'fairest' way of splitting it each loan. The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2. That should have then been communicated beforehand as lenders thought one route will be followed when another was actually actioned!
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Post by sterilized on Sept 2, 2015 16:50:36 GMT
In hindsight, we think the most equitable way of dividing the oversubscribed loans was to divide it equally as a proportion of the upper limit for each investor. Mr £100 upper limit will get exactly the same % proportion as Mr £100k upper limit. We think thats the 'fairest' way of splitting it each loan. The next one is over £1.8m or £2.5m, the PF pot is very slightly less than this so everyone will get their full allocations for these 2. So you have changed the model without informing anyone first. This demonstrates you are not listening to your investors. After the fiasco of the last live loan you did manage to you regain a lot of credibility with launching the pre funding model. You have lost it again by changing the rules before this loan went live. Shame on you.
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adrianc
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PBL55
Sept 2, 2015 16:52:03 GMT
Post by adrianc on Sept 2, 2015 16:52:03 GMT
However I would also like to point out that if everyone upped their pre funding limit by 3 then we would still have all received the same amount in this loan. Approx 13% instead of 39% as the total pre fund level would have been that much higher. If everyone upped their pre-funding limit, yes. But if only half of people tripled their pre-funding limit, then those people would get more, and the people who didn't would get less. £1m loan, £2m pre-funded. Everybody gets 50%. £1m loan, £1m pre-funded as before, but £1m is now £3m. Everybody gets 25%. The people who tripled their pre-fund now get 60% of their original preference, the ones who didn't now get 25% of their original preference.
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PBL55
Sept 2, 2015 16:52:25 GMT
Post by xyon100 on Sept 2, 2015 16:52:25 GMT
Just noticed a couple of folk only got 41P
Now that is micro investing!
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adrianc
Member of DD Central
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PBL55
Sept 2, 2015 16:53:45 GMT
Post by adrianc on Sept 2, 2015 16:53:45 GMT
Just noticed a couple of folk only got 41P
Now that is micro investing! Or people selling off the shrapnel, to leave themselves with rounded parts?
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(The good old days of boat loans and just 500 members!)
