pom
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Post by pom on Dec 15, 2015 10:10:22 GMT
Maybe they're just reining in the big hitters first - if someone bids 250k when they only want 50k that's a lot of extra churn in the secondary...
Interestingly I just went to my pipeline cos I couldn't remember what the highest pre-bids were and even the big loans are now showing a max pre-bid of 20k for me so I wonder if in fact they've already implemented it (as I currently have 24.5k invested....spose I could transfer in another £500 to test it but it wouldn't show up til tomorrow anyway!)
Edit - crossed with awk
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pom
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Post by pom on Dec 15, 2015 10:18:06 GMT
Maybe they're just reining in the big hitters first - if someone bids 250k when they only want 50k that's a lot of extra churn in the secondary... Interestingly I just went to my pipeline cos I couldn't remember what the highest pre-bids were and even the big loans are now showing a max pre-bid of 20k for me so I wonder if in fact they've already implemented it (as I currently have 24.5k invested....spose I could transfer in another £500 to test it but it wouldn't show up til tomorrow anyway!) Edit - crossed with awk Although thinking about it if someone's wanting to invest 50k in each loan it's not going to take long til they have a portfolio of 250k....so I dunno!
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dp
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Post by dp on Dec 15, 2015 10:26:53 GMT
A quiet word (email) to those who are clearly playing/gaming the system will suffice. The prefunding model is working well for the majority but it appears there are a small few who are clearly abusing the system. Slap their wrists and let's move on with a simple approach.
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Post by mattie on Dec 15, 2015 10:52:50 GMT
Maybe they're just reining in the big hitters first - if someone bids 250k when they only want 50k that's a lot of extra churn in the secondary... Interestingly I just went to my pipeline cos I couldn't remember what the highest pre-bids were and even the big loans are now showing a max pre-bid of 20k for me so I wonder if in fact they've already implemented it (as I currently have 24.5k invested....spose I could transfer in another £500 to test it but it wouldn't show up til tomorrow anyway!) Edit - crossed with awk The largest pre-funding option available to me now is £10,000. I have only got a small investment of less than £4000 so maybe that's the minimum? Before, I was able to select up to £250,000 pre-funding for each loan.
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oldgrumpy
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Post by oldgrumpy on Dec 15, 2015 11:02:08 GMT
We more "moderate" lenders shall have to be careful to adjust our targets down somewhat if all individual maxima are to be restricted to £10K pre-bid. We don't want to receive an unexpectedly large allocation, though I suppose if we are still able to sell out before paying for them it still won't matter.
edit: I've just checked my pages and they show pre-fund maxima for each loan of £25K (close to my total stake in SS)
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awk
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Post by awk on Dec 15, 2015 11:16:51 GMT
So, from "nothing is yet decided" yesterday afternoon, to a quick implementation this morning - me thinks there's one coming
And if it's Hull or Essex, then there could be blood on the floor (which SS will want to avoid/minimize) - will be very interesting how a big one is absorbed by the SM once everyone gets everything they asked for !
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TFTO
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Post by TFTO on Dec 15, 2015 11:23:07 GMT
A quiet word (email) to those who are clearly playing/gaming the system will suffice. The prefunding model is working well for the majority but it appears there are a small few who are clearly abusing the system. Slap their wrists and let's move on with a simple approach. Seems like the easiest option to me, as well.
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ianj
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Post by ianj on Dec 15, 2015 11:29:50 GMT
Yes, let's keep everything simple.
So simple that when I win the euromillions jackpot tonight (it must be 'my turn') I'll deposit £1mil cash in my account, then set all pipeline loans that appear in the next six months to the max allowable pre-funding. When I return from whatever exotic destination I've chosen to hide in, it will be with the knowledge that I'll never need to have any pre-drawdown cash in my account ever again, and that whatever system is employed I'll always achieve the maximum possible allocation.
Now that is simple, but is it fair?
For me, simplicity revolves around the actions required from investors to produce a desired result. Modern cars are so much easier to drive that fifty years ago, but only due to much more complex technology under the bonnet. Does anyone ever tell manufacturers not to change their products because owners need simplicity?
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ablender
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Post by ablender on Dec 15, 2015 11:31:43 GMT
I will keep on using the amount I really want in pipeline. So will be willing to buy later in SM (for the loans I am interested in).
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SteveT
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Post by SteveT on Dec 15, 2015 11:47:17 GMT
It certainly seems that the personal pre-fund limits have already been coded and enabled. I wonder what happens if you have a £15k target set, with £13k portfolio and £2k cash, and then withdraw your £2k cash. I presume your target automatically gets reduced to £13k but I doubt it automatically gets put back up again if you put the £2k cash back in.
Would be nice to see the "small loan" pre-fund caps coded into the drop-down menus as well. At the moment I could still set a 6 figure target for a sub-£500k loan if I wanted, although I assume SS would now be applying a lower cap at launch time.
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dp
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Post by dp on Dec 15, 2015 11:47:23 GMT
Dear All, Following various discussions on this forum, we have come up with a possible solution but in the spirit of P2P we thought we should float it on here first for discussion, so nothing is yet decided! Appreciate thoughts and comments. Ahhh - Nothing yet decided - you have implemented it!!!
May as well amend post to say this is what we are doing/have done. 
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nush
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Post by nush on Dec 15, 2015 11:49:28 GMT
I will keep on using the amount I really want in pipeline. So will be willing to buy later in SM (for the loans I am interested in). same
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ablender
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Post by ablender on Dec 15, 2015 11:54:32 GMT
It certainly seems that the personal pre-fund limits have already been coded and enabled. I wonder what happens if you have a £15k target set, with £13k portfolio and £2k cash, and then withdraw your £2k cash. I presume your target automatically gets reduced to £13k but I doubt it automatically gets put back up again if you put the £2k cash back in. Would be nice to see the "small loan" pre-fund caps coded into the drop-down menus as well. At the moment I could still set a 6 figure target for a sub-£500k loan if I wanted, although I assume SS would now be applying a lower cap at launch time. I understand that it is the amount available when the loan goes live which counts. This is a single moment in time and thus a single value of Portfolio+Cash. Also, this implies that any limit applies per loan and not for the whole pipeline.
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treeman
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Post by treeman on Dec 15, 2015 11:55:59 GMT
For investors currently with a smaller holding, some half decent notice of loans going live - at least a few hours - would be of great benefit. The day before would be better still. This would allow people to tweak pre-bids in line with their current appetite/situation and top up with cash as necessary. This would obviously still rely on deposits being confirmed MUCH quicker...... For me, a reliable(ish) progress scale for each loan or 'likely to go live' date on the pipeline would be a great help. Not looking for cast-iron promises just a little info tohelp with planning  |
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SteveT
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Post by SteveT on Dec 15, 2015 11:58:32 GMT
It certainly seems that the personal pre-fund limits have already been coded and enabled. I wonder what happens if you have a £15k target set, with £13k portfolio and £2k cash, and then withdraw your £2k cash. I presume your target automatically gets reduced to £13k but I doubt it automatically gets put back up again if you put the £2k cash back in. Would be nice to see the "small loan" pre-fund caps coded into the drop-down menus as well. At the moment I could still set a 6 figure target for a sub-£500k loan if I wanted, although I assume SS would now be applying a lower cap at launch time. I understand that it is the amount available when the loan goes live which counts. This is a single moment in time and thus a single value of Portfolio+Cash. Also, this implies that any limit applies per loan and not for the whole pipeline. Why do you think that? Targets have already being limited according to current portfolio holdings. I'd be surprised if they increase again by themselves if you added more cash (who's to say that's what you intended?)
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