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Post by nanniema on Jan 27, 2016 17:48:57 GMT
90% funded with 5 days to go, it looks like we could have a proper, genuine auction on our hands - what could possibly go wrong? There would seem to be no good reason for LC to get involved.
OK s******r has had his usual 10% (£2,100) bid and another possible underwriter took £3000 at 10% and 2000 at 11% to bring the average down, but I for one will be most disappointed if LC decide to interfere further and not let the lenders decide the rate.
After a very positive start, in September last year, I have become disillusioned with LC to the point where I have stuck at the minimum to keep my £100 bonus (subject to a probable £40 loss on SAC).
I cannot see much difference between LC and FC at the moment - with FC you know what the fixed rate is.
- with LC you know it will be a 'fixed' rate.
If this loan goes the same way I'm afraid I'm off
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kaya
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Post by kaya on Jan 27, 2016 20:42:15 GMT
So is it a case of, if they fill it with compost, the new green shoots will be smothered, wither, and die?
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Post by nanniema on Jan 27, 2016 20:45:56 GMT
This new shoot will not wither or die but will shoot off to either pastures new or at least a level playing field.
For some reason we seem to have started a gardening based thread.
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kaya
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Post by kaya on Jan 28, 2016 10:56:07 GMT
Ah well, I note that two extra layers of compost have now been added! The highest green shoots are now submerged, and will require recycling. Perhaps green pastures beckon elsewhere.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 28, 2016 11:11:40 GMT
This new shoot will not wither or die but will shoot off to either pastures new or at least a level playing field. For some reason we seem to have started a gardening based thread. When you say "shoot off" did you really mean "sod off"? 
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min
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Post by min on Jan 28, 2016 11:31:49 GMT
Have just noticed this.
I bid £20 on 20th Jan at 12.5%
Just noticed that a bid of £2000 also at 12.5% but made on 25th Jan is below mine on the list
Presumably I will get knocked out before the £2000 bid despite the fact that I bid earlier.
Have contacted LC. Will be interested to see what they say.
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kaya
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Post by kaya on Jan 28, 2016 12:21:35 GMT
No need to worry here, I think, because the loan offers get jumbled up for some reason, and are not always listed in the proper order. I think you will find that bids do indeed get knocked out in the correct order. With the top bids now knocked off, the desired tumbling effect can now take place, so you should'nt have long to wait to test this!
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min
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Post by min on Jan 28, 2016 13:10:26 GMT
No need to worry here, I think, because the loan offers get jumbled up for some reason, and are not always listed in the proper order. I think you will find that bids do indeed get knocked out in the correct order. With the top bids now knocked off, the desired tumbling effect can now take place, so you should'nt have long to wait to test this! LC have confirmed in an email what you have said. They are looking at changing the display. Shouldn't be that difficult.
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ablender
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Post by ablender on Jan 28, 2016 13:22:33 GMT
My bid (at a rate that I was comfortable with) has been knocked out.
Question: Given the profit level of this business, I am happy to lower the interest rate?
Answer: Nooooh!
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Post by nanniema on Jan 28, 2016 14:37:03 GMT
Ah well, I note that two extra layers of compost have now been added! The highest green shoots are now submerged, and will require recycling. Perhaps green pastures beckon elsewhere. Yes, another one at 10% by someone with a name that sounds like a posh pronunciation of London, my possible other rate fixer. That's £9100 between the two. If this was genuine, (no denials so far from LC) with a loan this oversubscribed there would be very little availability on the SM. Anyone like a bet on how much will be on offer. I'm guessing about £9,100. Like ablender I will not be rebidding, will keep the account open until there is some info on SAC, but otherwise yes jonno I will be sodding off. A real shame, so much promise.
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kaya
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Post by kaya on Jan 28, 2016 16:54:43 GMT
So we are talking about manure, then?  |
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SteveT
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Post by SteveT on Jan 29, 2016 10:51:17 GMT
This one's already more than £7000 over-funded with 3 days to go, but has £9000 of underwriter bids in at stupid rates from S*******r and L****n. Surely it's about time LC had the balls to take the stabilisers off and let at least the smaller auctions run unsupported? If an auction is still under-funded with a couple of hours to go then that's when to step in, not the moment the auction starts.
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Post by nanniema on Jan 29, 2016 11:33:13 GMT
Yes but that wouldn't bring the rate down.
Their ad at the top of this page says "Don't like fixed rates? Invest at a rate that suits you with Lending Crowd"
Surely this should read " Don.t like fixed rates -tough. Invest at a rate that suits Lending Crowd"
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kaya
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Post by kaya on Jan 31, 2016 14:56:06 GMT
Looks like bids of 12.4% will succeed, if you are interested. I don't see all of the over-subscribed amount in the rejected bids total, whatever that means.
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ablender
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Post by ablender on Jan 31, 2016 18:11:12 GMT
Looks like bids of 12.4% will succeed, if you are interested. I don't see all of the over-subscribed amount in the rejected bids total, whatever that means. Perhaps lendingcrowd would honour us by some explanation together with some transparency. I would particularly like to know if employing an auction style of gathering funds to attract lenders while at the same time gaming the market from the back to arrive at a rate that LC wants is acceptable to regulators.
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