paulg
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Post by paulg on Oct 9, 2015 12:27:33 GMT
"The pre-funding amount that you choose, is the maximum that will automatically be invested for you." Is the amount taken only from available funds or will it take up to the maximum and generate a BACS if there are not enough available funds? Yes, exactly. A BACS deficit will be generated for the difference, or for the total pre-fund if your balance was zero. Edit: Crossed with arbster
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paulg
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Post by paulg on Oct 16, 2015 14:23:55 GMT
With PBL60 now down to zero available, assuming SS aren't holding any more back the pre-fund was around £829,000, with SS adding £400,000 later.
i.e. 12 Oct £200,000
12 Oct £100,000
13 Oct £100,000
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chriscross
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Post by chriscross on Nov 18, 2015 12:22:17 GMT
In relation to Pre-funding, if a property is oversubscribed in pre-funds before it goes live:
1. Is there anyway of knowing this?
2. What happens when it goes live, is it last to prefund loses out, or do all pre-funded amounts get reduced by a certain % to allow for this?
Thanks for any help on this.
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SteveT
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Post by SteveT on Nov 18, 2015 12:35:00 GMT
In relation to Pre-funding, if a property is oversubscribed in pre-funds before it goes live: 1. Is there anyway of knowing this? 2. What happens when it goes live, is it last to prefund loses out, or do all pre-funded amounts get reduced by a certain % to allow for this? Thanks for any help on this. We only find out when everyone's allocation is scaled back (by the same % equally)
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Post by GSV3MIaC on Nov 18, 2015 13:03:14 GMT
Which avoids 'gaming the system' by putting in 2x what you want when the offer is 2x oversubscribed .. however it does mean you can't go put funds into things where you are more likely to succeed in getting them. Perhaps a simple 'fully subscribed' (or not) flag would allow the latter without encouraging the former?
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SteveT
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Post by SteveT on Nov 18, 2015 13:14:54 GMT
Which avoids 'gaming the system' by putting in 2x what you want when the offer is 2x oversubscribed .. however it does mean you can't go put funds into things where you are more likely to succeed in getting them. Perhaps a simple 'fully subscribed' (or not) flag would allow the latter without encouraging the former? Based on recent history at least, I go by the rule of thumb that anything less than about £1.25m will likely be oversubscribed (progressively so as the loans get smaller) and anything more than about £1.75m is likely still to have availability post-launch. In the grey area in between, you're likely to get most of what you ask for but possibly not all.
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adrianc
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Post by adrianc on Nov 19, 2015 17:31:20 GMT
In relation to Pre-funding, if a property is oversubscribed in pre-funds before it goes live: 1. Is there anyway of knowing this? If they said publicly, before launch, "This is currently 2x oversubscribed", everybody would go out and double their pre-fund amount, which would take it to 4x oversubscribed, so everybody would go out and re-double their pre-fund amount, which would...
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 19, 2015 17:52:55 GMT
In relation to Pre-funding, if a property is oversubscribed in pre-funds before it goes live: 1. Is there anyway of knowing this? If they said publicly, before launch, "This is currently 2x oversubscribed", everybody would go out and double their pre-fund amount, which would take it to 4x oversubscribed, so everybody would go out and re-double their pre-fund amount, which would... - that's really what this thread was started for, and why the first post is kindly kept updated, so that we can see how much other loans have been prefunded (as far as we can tell). It proves nothing, but it's our best way of making a guess.
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Post by GSV3MIaC on Nov 22, 2015 22:00:11 GMT
In relation to Pre-funding, if a property is oversubscribed in pre-funds before it goes live: 1. Is there anyway of knowing this? If they said publicly, before launch, "This is currently 2x oversubscribed", everybody would go out and double their pre-fund amount, which would take it to 4x oversubscribed, so everybody would go out and re-double their pre-fund amount, which would... Which is why I suggested a simple "is/isn't fully subscribed" would be all you could reasonably expect.
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kaya
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Post by kaya on Nov 25, 2015 9:11:36 GMT
Besides all of the above, the original SS stipulation was that there would be a £100 minimum investment in any loan. This should be adhered to, and everyone should be allocated that minimum amount before any other allocations are apportioned. It is just a waste of time to end up with an allocation of, say, £13, which is what I got just recently. Surely this is a sensible measure. What do you say, SS? Anyone?
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adrianc
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Post by adrianc on Nov 26, 2015 9:12:24 GMT
Besides all of the above, the original SS stipulation was that there would be a £100 minimum investment in any loan. This should be adhered to, and everyone should be allocated that minimum amount before any other allocations are apportioned. It is just a waste of time to end up with an allocation of, say, £13, which is what I got just recently. Surely this is a sensible measure. What do you say, SS? Anyone? Depends on if you view "£100 minimum investment" as "£100 minimum allocation" or "£100 minimum pre-fund commitment". Currently, it's the latter interpretation. So why not use the other interpretation? Well, simply, it wouldn't work for smaller loans - which are the ones where there's a big difference between pre-fund amount and allocation. PBL066 was only £360k total. SS boast "over 5,000 investors" on their How It Works page. If everybody puts their hand up, that's £500,000 at £100 minimum allocation. As SS grows in number of investors, and more people use pre-fund, that's going to become an impossible stipulation to keep for more and more loans. If we go with that 5,000 investor figure, there are 19 current loans below half a mill - the smallest is only £119k, and there's four others under £200k.
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Balder
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Post by Balder on Nov 30, 2015 16:44:25 GMT
SS seem to be getting a fair bit of stick in some threads at the moment about what they are/aren't telling us. There are now moans about too much information in the pipeline loans. To make life easier for both SS and the lenders, I think it's time to consider the next phase of the pre-funding model: Make pre-funding available on individual pipeline loans.That would give SS more certainty about what is/is not being funded and would remove uncertainty for the lenders of what they are about to fund. ...and before someone chips in with the secondary market, yes it is easy to sell loan parts you do not want, but not so easy to buy the loans parts you do want. It is hoy.................................................
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SteveT
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Post by SteveT on Nov 30, 2015 16:45:58 GMT
SS seem to be getting a fair bit of stick in some threads at the moment about what they are/aren't telling us. There are now moans about too much information in the pipeline loans. To make life easier for both SS and the lenders, I think it's time to consider the next phase of the pre-funding model: Make pre-funding available on individual pipeline loans.That would give SS more certainty about what is/is not being funded and would remove uncertainty for the lenders of what they are about to fund. ...and before someone chips in with the secondary market, yes it is easy to sell loan parts you do not want, but not so easy to buy the loans parts you do want. Sorry but that simply wouldn't work. SS won't usually know (until very close to launch, possibly on the day itself) which of several pipeline loans will get all the elements in place first (valuation, title checks, legals, etc) whilst lenders have to be allowed at least a few days to spot that there's another pipeline loan, review the documents and set their targets.
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SteveT
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Post by SteveT on Nov 30, 2015 17:13:08 GMT
Sorry but that simply wouldn't work. SS won't usually know (until very close to launch, possibly on the day itself) which of several pipeline loans will get all the elements in place first (valuation, title checks, legals, etc) whilst lenders have to be allowed at least a few days to spot that there's another pipeline loan, review the documents and set their targets. I suspect, like me, you are not up to date on the current functionality of the pipeline loans page. Have another look. Perhaps I misunderstood you. I thought you were suggesting that only one pipeline loan at a time should be made available for pre-funding.
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Post by red_panda on Dec 1, 2015 9:49:18 GMT
If I set prefunding for a loan XY at £100 , but in the and only have £50 available funds and do not add anything, will I get to keep the £50 prefunded in a loan or will i loose the entire £100 part?
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