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Post by GSV3MIaC on Feb 17, 2016 12:32:05 GMT
It depends on whether Google think you are a robot, and one of the determinants of that is how often to ask to go through .. so basically it is some sort of google-moderated fair-shares system (although they also look at a bunch of other things you may have done to qualify as human .. and they collect data for their advertisers in the process, of course). SS could implement a 'you can only have 5 bids an hour' system themselves, but then nobody would waste a bid on a £0.01 part (and some BHs wouldn't waste it on a £1000 part).
I (still) favour a system where you tell SS central how much of what you want to buy, and they dole it out (randomly, fair shares, bottom up, whatever) when some comes up for sale .. just like they do with sub-£1m new loans. Takes all the button pushing out of life, and most of the load off of their servers and internet connections.
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oldgrumpy
Member of DD Central
Posts: 5,087 
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Post by oldgrumpy on Feb 17, 2016 12:32:49 GMT
Hectic, yes; but it been fairly easy to grab some chunks. I just put a measly £500* of PBL35, and it hung around for a good 10 seconds. *My mother would kill me if she knew I was referring to £500 as measly  ; but in the grand scheme of SS, you all know what I mean  I've just spent 40 minutes failing to get anything on the secondary market. Perhaps it would help if they didn't keep asking me to fill in a Capcha. BTW, waiting for the individual loan page to come up, selecting the amount box, typing a number, ticking the Recapcha, selecting some images, pressing the verify button and pressing the invest button take more than 10 seconds. There are clues on how to deal with some of this on the other Secondary Market thread somewhere. Beating Partacus (m*********3) is becoming a national sport. 
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tomtom
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Post by tomtom on Feb 17, 2016 12:35:26 GMT
There is no way that SS id going to satisfy everyone, I did not get all of what I would have liked and did have a few problems on the SM market found number of street sign pictures hard to verify but hy-ho thats life.
I transferred cash in earlier this morning ( 10.15am ) still not showing as being received but that may be due to the ammount of work on pc system.
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ablender
Member of DD Central
Posts: 2,204
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Post by ablender on Feb 17, 2016 13:04:37 GMT
It depends on whether Google think you are a robot, and one of the determinants of that is how often to ask to go through .. so basically it is some sort of google-moderated fair-shares system (although they also look at a bunch of other things you may have done to qualify as human .. and they collect data for their advertisers in the process, of course). SS could implement a 'you can only have 5 bids an hour' system themselves, but then nobody would waste a bid on a £0.01 part (and some BHs wouldn't waste it on a £1000 part). I (still) favour a system where you tell SS central how much of what you want to buy, and they dole it out (randomly, fair shares, bottom up, whatever) when some comes up for sale .. just like they do with sub-£1m new loans. Takes all the button pushing out of life, and most of the load off of their servers and internet connections. Absolutely. It's all a bit silly and amateur from SS but right now it suits them perfectly. Lenders bid multiples of what they actually need, ensuring the loan is filled, and then there is a nice feeding frenzy on the SM. It's turns into a game rather than an investment and that also suits SS. Best to keep lenders focussed on liquidity and not on the credit risk. I have to disagree with your view. I do not see anything amateurish with running a successful business like SS. Game - Even a casino is a based on games after all. It is still big business and professional. The difference is that here you are not betting on the outcome of the game to win or loose your money.
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agent69
Member of DD Central
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Post by agent69 on Feb 17, 2016 18:05:35 GMT
If Lendy / SS / AN Other commission a valuation then there is no obligation on them to make it public (even if lenders might be interested to see it). If you don't like that then vote with your feet. All loans on SS are based on the valuation document. Do you lend on SS? What do you base your judgment on? What if there was no valuation document? By the way, I am calm, I have just downed a litre of coffee.  Where does it say "All loans on SS are based on the valuation document"And in answer to your questions, I do invest on SS. I would like to invest more, but I am at an age where my short stubby fingers aren't quick enough for the SM.
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ablender
Member of DD Central
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Post by ablender on Feb 17, 2016 18:14:31 GMT
All loans on SS are based on the valuation document. Do you lend on SS? What do you base your judgment on? What if there was no valuation document? By the way, I am calm, I have just downed a litre of coffee. Where does it say "All loans on SS are based on the valuation document"And in answer to your questions, I do invest on SS. I would like to invest more, but I am at an age where my short stubby fingers aren't quick enough for the SM. What I mean by that statement is that, the value of the security and hence the LTV for each loan is based on the value arrived at by the valuers and documented in the valuation document. That is why we cannot be excluded otherwise it will not be worth the paper it is printed on. Wait, it is not printed ... Ah, . . . not even the value of the paper then!
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Post by Deleted on Jun 27, 2016 8:43:38 GMT
Recent update mentions,
'Land has been re-zoned. Potential valuation of over £75,000,000. Waiting on new valuation, will update when received.'
Has anyone seen any news announcements related to this update ?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
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Post by sqh on Jun 27, 2016 21:35:18 GMT
Recent update mentions, 'Land has been re-zoned. Potential valuation of over £75,000,000. Waiting on new valuation, will update when received.' Has anyone seen any news announcements related to this update ? Central Bedfordshire have accepted the land to be considered for development. It doesn't mean planning will we accepted, but just being considered will increase the value of the land. It may not be worth £75m at this stage, but you can bet the borrower won't let the loan(s) default. see <mod redacted link as borrower's asset identified>
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jun 27, 2016 21:39:47 GMT
Recent update mentions, 'Land has been re-zoned. Potential valuation of over £75,000,000. Waiting on new valuation, will update when received.' Has anyone seen any news announcements related to this update ? Central Bedfordshire have accepted the land to be considered for development. It doesn't mean planning will we accepted, but just being considered will increase the value of the land. It may not be worth £75m at this stage, but you can bet the borrower won't let the loan(s) default. See <mod redacted link as borrower's asset identified> Wow... The borrower just won the jackpot with this land. I bet SS are keen to keep this on their books in the hope that it becomes one big (or many) DFL. What's more, with the updated valuation, I could see an extension with further funds to be sent to the borrower.
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Post by GSV3MIaC on Jun 27, 2016 22:36:00 GMT
But quite likely that the borrower can now get a cheaper loan, based on a much better LTV?
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jun 27, 2016 22:41:36 GMT
But quite likely that the borrower can now get a cheaper loan, based on a much better LTV? Maybe; but in the short term (considering the loan has only 52 days and has only recently been re-zoned), I would imagine an extension would be in order with SS.
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