sl75
Posts: 2,092 
Likes: 1,245
|
Post by sl75 on Nov 16, 2015 17:06:25 GMT
Curious - 17290 withdrawan apparently because "due a technical error" the first loan wasn't repaid - and just after I'd got a big chunk of money to throw at it. I thought this new loan was for the purpose of repaying the first loan???
If they do indeed switch to a "repay first loan then list second" order, it'll release a whole horde of autobid users who currently hold parts of the first loan, so I'd predict no trouble whatsoever filling next time - especially if they stick with the 2% CB (and don't overuse it on other simultaneous loans!)
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Nov 16, 2015 17:20:38 GMT
Curious - 17290 withdrawan apparently because "due a technical error" the first loan wasn't repaid - and just after I'd got a big chunk of money to throw at it. I thought this new loan was for the purpose of repaying the first loan??? If they do indeed switch to a "repay first loan then list second" order, it'll release a whole horde of autobid users who currently hold parts of the first loan, so I'd predict no trouble whatsoever filling next time - especially if they stick with the 2% CB (and don't overuse it on other simultaneous loans!) The first tranche of this should have been used to repay the first tranche of the old loan, which would have freed up cash which could have been recycled into this second tranche. I don't what a "technical error" would be, but failure to ensure that the first tranche of the old loan was repaid is an operational failing - if nothing else there must be a few people waiting for their cash so they can reinvest it, rather than moving new money in for the new loan and moving the old money out again when it is repaid.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Nov 16, 2015 17:33:44 GMT
The first tranche of this should have been used to repay the first tranche of the old loan, which would have freed up cash which could have been recycled into this second tranche. I don't what a "technical error" would be, but failure to ensure that the first tranche of the old loan was repaid is an operational failing - if nothing else there must be a few people waiting for their cash so they can reinvest it, rather than moving new money in for the new loan and moving the old money out again when it is repaid. Ok... but in that case why not just repay the first loan, leaving second tranche of the second loan live? ... unless FC are looking for an excuse to relist with a lower rate of CB of course 
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Nov 16, 2015 17:44:48 GMT
The first tranche of this should have been used to repay the first tranche of the old loan, which would have freed up cash which could have been recycled into this second tranche. I don't what a "technical error" would be, but failure to ensure that the first tranche of the old loan was repaid is an operational failing - if nothing else there must be a few people waiting for their cash so they can reinvest it, rather than moving new money in for the new loan and moving the old money out again when it is repaid. Ok... but in that case why not just repay the first loan, leaving second tranche of the second loan live? ... unless FC are looking for an excuse to relist with a lower rate of CB of course I suspect that they can't rush the paperwork and everything through before the auction deadline (and/or they're worrying about people who don't login daily). With the lack of appetite shown for this loan I doubt that they would dare reduce the cashback even if they weren't worried about customer (lender) relations.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Nov 16, 2015 17:52:58 GMT
I suspect that they can't rush the paperwork and everything through before the auction deadline (and/or they're worrying about people who don't login daily). With the lack of appetite shown for this loan I doubt that they would dare reduce the cashback even if they weren't worried about customer (lender) relations. I was holding a loan part from the first tranche of the first loan. It's been repaid already.
|
|
acky
Posts: 481
Likes: 262
|
Post by acky on Nov 16, 2015 18:16:28 GMT
I suspect that they can't rush the paperwork and everything through before the auction deadline (and/or they're worrying about people who don't login daily). With the lack of appetite shown for this loan I doubt that they would dare reduce the cashback even if they weren't worried about customer (lender) relations. I was holding a loan part from the first tranche of the first loan. It's been repaid already. .... due to "technical error" no doubt!
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Nov 16, 2015 18:23:43 GMT
It appears to me that what was discussed on the FC forum, i.e. that FC requires the lenders that will pull out (or reduce) if fixed rates were enforced is starting to bite.
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Nov 16, 2015 18:32:48 GMT
I suspect that they can't rush the paperwork and everything through before the auction deadline (and/or they're worrying about people who don't login daily). With the lack of appetite shown for this loan I doubt that they would dare reduce the cashback even if they weren't worried about customer (lender) relations. I was holding a loan part from the first tranche of the first loan. It's been repaid already. In which case I'm baffled as to what's going on. I presume that the money has been spent, so they can't pay back the second tranche of the old loan until they have the money from the new loan. I know that repayment of the first tranche was delayed, 'cos there was a question on the Q&A as to why it hadn't been repaid, but if it has now been repaid, we're not so close to the auction deadline that it would be necessary to pull the auction.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Nov 16, 2015 19:07:28 GMT
I think they really really really didn't want to have to reach for the 3%CB lever again so soon. My guess is it will reappear as a somewhat smaller tranche, but they're going to have fun getting the whole scheme away.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Nov 16, 2015 19:16:15 GMT
It's late even if they change their mind now. The money found another home.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Nov 17, 2015 8:07:06 GMT
I was holding a loan part from the first tranche of the first loan. It's been repaid already. In which case I'm baffled as to what's going on. I presume that the money has been spent, so they can't pay back the second tranche of the old loan until they have the money from the new loan. I know that repayment of the first tranche was delayed, 'cos there was a question on the Q&A as to why it hadn't been repaid, but if it has now been repaid, we're not so close to the auction deadline that it would be necessary to pull the auction. As am I... One moment the money from 17290 is thrown back at me, claiming it's because the first loan hasn't been repaid yet, then moments later the money from 7102 is thrown back at me too. Would seem a lot easier all round to skip the step of throwing the money from 17290 back, given that throwing the money from 7102 back removes the excuse for having cancelled the new auction...!?
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Nov 17, 2015 16:04:10 GMT
17290 is back on as 17437.
Wow. J***H***, almost single-handed filled the first 10% of this loan in the first 3 minutes.
|
|
|
|
Post by betterthanworking on Nov 20, 2015 16:54:15 GMT
17439, Godalming has been moved to 2% CB
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Nov 20, 2015 17:00:52 GMT
17439, Godalming has been moved to 2% CB Can't really see why it needed it with nearly 4 days remaining, including the weekend, but hey ho, worth a nibble. I blew most of my free cash the other day when some lunatic started jobbing off still-shiny (almost) £100 property parts at 4% discount
|
|
|
|
Post by betterthanworking on Nov 20, 2015 17:12:26 GMT
17439, Godalming has been moved to 2% CB Can't really see why it needed it with nearly 4 days remaining, including the weekend, but hey ho, worth a nibble. I blew most of my free cash the other day when some lunatic started jobbing off still-shiny (almost) £100 property parts at 4% discount I had a couple of those myself, but wasn't confident about shifting them easily, so showed some self-restraint. Hence, I still have money burning a hole. There are quite a few property loans all on at once, probably the perceived reason for the CB upgrade.
|
|
