SteveT
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Post by SteveT on Dec 1, 2015 9:56:25 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? No idea what SS would decide to do in that scenario but it's very much simpler immediately to sell the £50 you don't want (within the 48 hour "grace period" for payment)
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Post by red_panda on Dec 1, 2015 10:09:16 GMT
I'm in a situation where I do not plan to add additional funds to SS, but would very much like to reinvest the interest, which will be lower than £100. Trying to catch a part on this highly liquid second market is not fun, so I'm thinking whether I can just set £100 at pre-fund for a single loan and get just the part equal to my interest from previous loans.
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SteveT
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Post by SteveT on Dec 1, 2015 10:51:26 GMT
I'm in a situation where I do not plan to add additional funds to SS, but would very much like to reinvest the interest, which will be lower than £100. Trying to catch a part on this highly liquid second market is not fun, so I'm thinking whether I can just set £100 at pre-fund for a single loan and get just the part equal to my interest from previous loans. Yes, you can. But rather than having SS manually chase you each time for a "missing" cash deposit (and risking them deciding its simpler to cancel the whole £100 part), simply sell whatever you don't have the cash balance to pay for via the SM. So if you get a £100 allocation in a new loan and have only £45.12 cash in your account, sell £54.82 of the £100 part on the SM and you'll be fully invested again.
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Post by red_panda on Dec 1, 2015 11:08:55 GMT
Cool, thanks!
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Post by goldservice on Dec 2, 2015 11:22:29 GMT
Hi Investor
Thanks for the info. NB In PBL068 for '02/01/15' read '02/12/15'?
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Investor
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Post by Investor on Dec 4, 2015 14:09:20 GMT
Hi Investor Thanks for the info. NB In PBL068 for '02/01/15' read '02/12/15'? Quite correct and thanks for spotting that error I put in to see if anyone was paying attention  . Kids would have been despondent when I told them Xmas had been delayed by 11 months!
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kaya
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Post by kaya on Dec 8, 2015 15:11:48 GMT
Having received my congratulations from SS on being awarded my paltry amounts on todays loans, there are only two sensible options. 1. Quit altogether. Or 2. Game the system. So from now on, at least in the smaller loans, I'll request 10x what I want. Once everyone starts doing that, I'll move up to 20x, or more...and anything unwanted can simply be sold on immediately. Where does it end? Why not just request a million? (Would I get 1 day's interest if I sell the next day?)
The only sensible way forward is a requirement to have the funds in your account beforehand (with a day's notice given), and for everyone to be awarded a minimum £100 slice ( or equal amounts of less if the loan is smaller). SS have to decide whether they want everyone on board, or just the ultra-rich.
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ablender
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Post by ablender on Dec 8, 2015 19:09:49 GMT
Having received my congratulations from SS on being awarded my paltry amounts on todays loans, there are only two sensible options. 1. Quit altogether. Or 2. Game the system. So from now on, at least in the smaller loans, I'll request 10x what I want. Once everyone starts doing that, I'll move up to 20x, or more...and anything unwanted can simply be sold on immediately. Where does it end? Why not just request a million? (Would I get 1 day's interest if I sell the next day?) The only sensible way forward is a requirement to have the funds in your account beforehand (with a day's notice given), and for everyone to be awarded a minimum £100 slice ( or equal amounts of less if the loan is smaller). SS have to decide whether they want everyone on board, or just the ultra-rich. Great, I will keep bidding low then, knowing that you and some others are going to end up with too much anyway and will sell the extra on SM. Cheers.
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nush
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Post by nush on Dec 8, 2015 19:22:48 GMT
Having received my congratulations from SS on being awarded my paltry amounts on todays loans, there are only two sensible options. 1. Quit altogether. Or 2. Game the system. So from now on, at least in the smaller loans, I'll request 10x what I want. Once everyone starts doing that, I'll move up to 20x, or more...and anything unwanted can simply be sold on immediately. Where does it end? Why not just request a million? (Would I get 1 day's interest if I sell the next day?) The only sensible way forward is a requirement to have the funds in your account beforehand (with a day's notice given), and for everyone to be awarded a minimum £100 slice ( or equal amounts of less if the loan is smaller). SS have to decide whether they want everyone on board, or just the ultra-rich. Great, I will keep bidding low then, knowing that you and some others are going to end up with too much anyway and will sell the extra on SM. Cheers. worked well for me today, gained a fair bit on SM today.
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nick
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Post by nick on Dec 9, 2015 17:59:30 GMT
Having received my congratulations from SS on being awarded my paltry amounts on todays loans, there are only two sensible options. 1. Quit altogether. Or 2. Game the system. So from now on, at least in the smaller loans, I'll request 10x what I want. Once everyone starts doing that, I'll move up to 20x, or more...and anything unwanted can simply be sold on immediately. Where does it end? Why not just request a million? (Would I get 1 day's interest if I sell the next day?) The only sensible way forward is a requirement to have the funds in your account beforehand (with a day's notice given), and for everyone to be awarded a minimum £100 slice ( or equal amounts of less if the loan is smaller). SS have to decide whether they want everyone on board, or just the ultra-rich. If SS had to chose between having everyone on board, or just the ultra-rich, then they would pick the later every time as it always going to be a lot cheaper to service few lenders for the same pot of money. I think they are doing a fair good job at trying to keep everyone on board and the current system works pretty well given the circumstances. The main issue is that demand currently far exceeds supply. I suspect they are trying to originate as many loans as possible on the supply-side. On the demand side, the natural thing to do would be to reduce rates, although as a lenders, that is something that we wouldn't be advocating. Ultimately a reverse auction (similar to FC's, but allowing dynamic bidding to a set-level) would be the fairest way to allocate loans among lenders and is how scarce assets/resources are usually allocated in the absence of other non-economic considerations.
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mikes1531
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Post by mikes1531 on Dec 9, 2015 18:46:44 GMT
Investor: Why is the total pre-funding number for PBL072 shown in the table at the beginning of this thread flagged as being an "Estimated Value"?
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t
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Post by t on Dec 9, 2015 19:15:39 GMT
I think we should just let ss decide if they have a good machine or not
yes it is painfull at times but all in all it's very exciting to use this platform and that is what get my blood flowing
I love the excitement of not knowing what I'm going to get and when I'm going to get it
where els can you get that and get 12.68 PC compounded a year
im sure ss are doing there math on things when they take loans on and if things shift I'm sure they will slow things down to cope
lets just enjoy the game ,
i did send ss message about my opinion on pre funding and for me the 10 PC of holding would work fine for me but all in all part of this platform is the excitement do you really want to loose this ?
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scraggs
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Post by scraggs on Dec 9, 2015 19:24:28 GMT
Is anyone else having deposits taking well over a day to be added to their accounts ?
It appears to be happening lots now to me
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chrisf
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Post by chrisf on Dec 9, 2015 19:30:09 GMT
I think we should just let ss decide if they have a good machine or not yes it is painfull at times but all in all it's very exciting to use this platform and that is what get my blood flowing I love the excitement of not knowing what I'm going to get and when I'm going to get it where els can you get that and get 12.68 PC compounded a year im sure ss are doing there math on things when they take loans on and if things shift I'm sure they will slow things down to cope lets just enjoy the game , i did send ss message about my opinion on pre funding and for me the 10 PC of holding would work fine for me but all in all part of this platform is the excitement do you really want to loose this ? Nope, I definitely don't want to loose it
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SteveT
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Post by SteveT on Dec 9, 2015 19:34:41 GMT
Is anyone else having deposits taking well over a day to be added to their accounts ? It appears to be happening lots now to me There's a 5pm cut-off so any transfers made after 5pm Tuesday (say) won't be reconciled until Thursday morning. My deposit yesterday lunchtime was reconciled first thing this morning.
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. Kids would have been despondent when I told them Xmas had been delayed by 11 months!
