kaya
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Post by kaya on Dec 31, 2015 20:00:22 GMT
It's really more to fill the loans up - to make sure they complete - and to keep the final rate under a certain level. All this has been necessary to get the platform off the ground, and you can still bid top rate. It seems clear, however, that they need to open up the secondary market if they are to attract lots more multiple bids (see poll), and my guess is that the number of smaller bids would soon double at least, if they did so. I know mine would. So far, they seem stuck in their ways, but perhaps they'll yet listen to the amazing logic, reason, and wisdom emanating from this esteemed forum.
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micky
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Post by micky on Dec 31, 2015 20:04:27 GMT
Ok. I'm with it. Many thanks for your explanations.
However, you can bid top rates but don't stand a chance of getting them.
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ablender
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Post by ablender on Dec 31, 2015 20:10:35 GMT
I did bid top rates in other loans and got the loan parts. I only hope that the current loan completes.
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SteveT
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Post by SteveT on Dec 31, 2015 20:40:23 GMT
It's really more to fill the loans up - to make sure they complete - and to keep the final rate under a certain level. All this has been necessary to get the platform off the ground, and you can still bid top rate. It seems clear, however, that they need to open up the secondary market if they are to attract lots more multiple bids (see poll), and my guess is that the number of smaller bids would soon double at least, if they did so. I know mine would. So far, they seem stuck in their ways, but perhaps they'll yet listen to the amazing logic, reason, and wisdom emanating from this esteemed forum. The contrast between LC's attitude to this forum and that of MT (especially) and SS really couldn't be more stark. Whilst MT rapidly adopts ideas and enhancements suggested by its lenders on here, and is growing exponentially as a direct result, LC seems deaf to the excellent input proferred by forum members. Rather sad really as I had high hopes initially that it could pick up a lot of the business lost by FC. However I've pretty much given up now and am only bidding each time interest payments reach £20 (and then only until the initial 12 months is up).
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ablender
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Post by ablender on Dec 31, 2015 22:15:17 GMT
I am hoping that during these twelve months something will shake up LC and they see the light.
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kaya
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Post by kaya on Jan 1, 2016 16:52:34 GMT
To be fair on them, the way it has been thus far, has been necessary to get the whole thing off the ground, and I'm not sure that a comparison with MT can fairly be made, that being a quite different set up. The question is, will they now have the courage to bring in change? One problem is that an open secondary market could lift borrower rates, at least for a while, untill competition between lenders brings rates down again. In the P2P world, open market auctions for SME loans are now rare: FC have abandoned market auctions, FE abandoned offering SME loans, FK is effectively fixed rate too (or below), and every platform wants/needs to exercise some control over the outcomes. There is always ReBS...
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nick
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Post by nick on Jan 28, 2016 16:59:22 GMT
Ensuring the operation of a liquid, transparent SM is a key volume driver. If I had more faith in the SM I would put 10 times my current investment. Is it is, the operation of the SM seems very opaque and in my suspicious mind probably means it is fixed (in what way and to whose benefit who knows).......
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