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Post by GSV3MIaC on Sept 15, 2016 15:31:59 GMT
I'm pretty sure the 20% limit is NOT automagically applied by the platform ... or indeed 'at all', although if you break it, and someone complains, there is a faint chance you'll get a tacky email or phone call from FC asking you to not do it too many more times, because it makes the natives restless. I have no personal experience since the bot is programmed to quit well before then.
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blender
Member of DD Central
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Post by blender on Sept 15, 2016 15:33:13 GMT
That's what we are led to believe, but the exact position is that you cannot make a further bid if your last one took you over 20% - I believe that is how it works. So you can take £2000 over 20% and hope to get away with it. I do not speak from experience here. Are you sure that the 20% limit is automatically applied by the platform? About 8 months ago I accidentally bid way over the 20% limit on a small loan without any restriction. I spoke to FC about it and was told that whilst they intended to automatically limit bids to below 20%, they couldn't say when this would be introduced. Given how quick FC are in making any changes to their platform, I had assumed this would be never and I would have to sharpen my mental arithmetic instead........ No I am not sure it is automatic because I have never tried it. I think that is how it is defined in the T&Cs. Thanks for that info/correction.
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Post by nightmare on Sept 15, 2016 16:01:16 GMT
The guy tried for a 4th £2000 but the bar had already come down:
1 **** £200 18.1% 14 Sep 2016 14:34 Rejected
2 **** £2,000 18.1% 14 Sep 2016 14:34 Rejected
3 **** £100 18.1% 14 Sep 2016 14:34 Rejected
4 **** £20 18.1% 14 Sep 2016 14:34 Rejected
5 **** £100 18.1% 14 Sep 2016 14:34 Rejected
6 **** £140 18.1% 14 Sep 2016 14:34 Accepted
7 **** £20 18.1% 14 Sep 2016 14:34 Accepted
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Post by GSV3MIaC on Sept 27, 2016 18:38:59 GMT
I see 24435 has managed to fail to pay the first (of 6) payments .. must be some sort of record!!
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treeman
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Post by treeman on Sept 29, 2016 15:40:36 GMT
A Little side-step on topic - £ 500 k 'D' 60M 2nd Charge just gone up !!!! Wonder how long this one'll last - it will have to manage without my help !!  |
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metoo
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Post by metoo on Sept 29, 2016 15:49:38 GMT
A Little side-step on topic - £ 500 k 'D' 60M 2nd Charge just gone up !!!! Wonder how long this one'll last - it will have to manage without my help !! Did you look at the assets and charges register? Looks like their first charges amount to 84%LTV leaving 79k to cover the 500k. It's good to know there is plenty of security.
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arbster
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Post by arbster on Sept 29, 2016 15:53:35 GMT
A Little side-step on topic - £ 500 k 'D' 60M 2nd Charge just gone up !!!! Wonder how long this one'll last - it will have to manage without my help !! Did you look at the assets and charges register? Looks like their first charges amount to 84%LTV leaving 79k to cover the 500k. It's good to know there is plenty of security. That's more security than 99.9% of the loans on FC.
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metoo
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Post by metoo on Sept 29, 2016 16:05:25 GMT
Did you look at the assets and charges register? Looks like their first charges amount to 84%LTV leaving 79k to cover the 500k. It's good to know there is plenty of security. That's more security than 99.9% of the loans on FC. Yep, I wish them well with their gearing up and meeting the huge demand they are receiving for their products, but 1/2 a million is a lot to take on. If the banks decided to foreclose, that 84% may be all they can recoup...
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Nov 2, 2016 12:43:38 GMT
Wow, this thread is no longer on the first page and I had to search for it.
E - ALERT !!!! Working capital (27767)
Big one 157k. And doesn't look that bad to me...
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fasty
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Post by fasty on Nov 2, 2016 16:00:55 GMT
Wow, this thread is no longer on the first page and I had to search for it. E - ALERT !!!! Working capital (27767) Big one 157k. And doesn't look that bad to me... Thanks for the alert. At first I was surprised how slowly this one went. I had a very small nibble. Presumably E-fans are holding back in eager anticipation of a flurry of new E-loans at even higher rates soon. Loans so exquisitely risky that they should ideally be re-sold before being bought.
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Post by GSV3MIaC on Nov 2, 2016 16:22:38 GMT
/mod hat off
I think it was big enough that the usual suspects either didn't have the cash to hog 20% each, or else were leery of the liquidity when it came time to sell. It certainly didn't look any worse than the smaller ones which sell out in <1 minute.
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acky
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Post by acky on Nov 7, 2016 11:51:43 GMT
Over 500 parts on SM at par in E 27767. Going slowly. So with reference to conversation on another thread, Autobodge is not binging on it! Only accepted 5 days ago so looks good to me, but I already have enough!
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r00lish67
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Post by r00lish67 on Nov 10, 2016 14:53:51 GMT
£100k of 17.9% D on the table, going fast as you'd expect...
Edit: A full 12 words of detail in the business profile to support their case, I'm surprised Feeling Circumscribed didn't give them at least an A!
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acky
Posts: 481
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Post by acky on Nov 10, 2016 15:39:20 GMT
£100k of 17.9% D on the table, going fast as you'd expect... Edit: A full 12 words of detail in the business profile to support their case, I'm surprised Feeling Circumscribed didn't give them at least an A! It took 40 minutes to fill which must be an order of magnitude longer than the equivalent E would have taken at just 0.2% more before the interest rate changes. Perhaps not all the bots have been reprogrammed yet. The SM on this one is going to be very interesting to watch - 64 parts up there after 8 minutes, lowest premium +1.4% (buyer rate 17.2%). Think I'll hold my nerve for a higher premium than that.
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r00lish67
Member of DD Central
Posts: 2,692
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Post by r00lish67 on Nov 10, 2016 15:46:40 GMT
£100k of 17.9% D on the table, going fast as you'd expect... Edit: A full 12 words of detail in the business profile to support their case, I'm surprised Feeling Circumscribed didn't give them at least an A! It took 40 minutes to fill which must be an order of magnitude longer than the equivalent E would have taken at just 0.2% more before the interest rate changes. Perhaps not all the bots have been reprogrammed yet. The SM on this one is going to be very interesting to watch - 64 parts up there after 8 minutes, lowest premium +1.4% (buyer rate 17.2%). Think I'll hold my nerve for a higher premium than that. Premium 1.3% now - don't these people know how a cartel works? Didn't they get the memo? NB - I don't have a bot, poorly programmed or otherwise, just page monitor and some spare time.
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