sam i am
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Post by sam i am on Mar 4, 2016 10:50:02 GMT
Yes I can't go beyond 10K If your total holdings including cash on account are less than £10k, you will have a max £10k bid limit. If you want more than that, cash must be deposited or you build your portfolio. This seems to support the 'at least' theory.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 4, 2016 10:51:05 GMT
Yes I can't go beyond 10K If your total holdings including cash on account are less than £10k, you will have a max £10k bid limit. If you want more than that, cash must be deposited or you build your portfolio. So basically PF remains the same as before and SM now matches that, cash plus portfolio & everyone has at least £10k INPL for PF but could have a bigger PF deficit if they have a large portfolio. Thanks for the clarification
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Post by savingstream on Mar 4, 2016 10:53:06 GMT
INPL.....means what?  ? Invest now pay later I'm with sam i am with this one; the more I read SS OP, the more I can't quite understand "EVERYONE has a £10,000 INPL (we like that acronym) limit per pre-fund loan including new investors"; I think this need some clarification from savingstream OK maybe a little unclear - everyone has a free credit limit of £10k regardless of holdings on account or time with us or any other restriction. We are not limiting bids in PF or SM to anyone with holdings or cash higher than that amount on account. You can bid as high as you like if your account can support it. What we wanted to stop was someone with £50k in their account buying up the SM to the tune of £1.2m which happened a couple of times earlier this week and had no intention of depositing cash to pay for it, so we cancelled their transactions and dropped it back onto the SM. In hindsight this caused a little consternation so we will drip it in next time.
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Post by savingstream on Mar 4, 2016 10:56:04 GMT
Agree with sam i am and GSV3MIaC - I'm properly confused now...... or properly dense ....... AIUI the SM explanation in the OP is very clear (the examples eliminate ambiguity). Can't imagine anyone not understanding. However ....... the PF bit can clearly be interpreted in different ways !  The more of these posts I read, the less I seem to get it. I can still set all my PFs above £10k, so how am I limited (" EVERYONE has a £10,000 INPL (we like that acronym) limit" ) to 10k ? Please savingstream could you clarify the new PF INPL rules ? You are not limited on how much you can prefund but by the deficit that can create, a max 10k. So if you prefunded 50k and were allocated 20k, you would need to have 10k already available. What SS appear to be doing is pushing people to pay for part of their PF allocations in advance if they are likely to be greater than 10k. Given that the timescales for working hour deposits and withdrawals are now hours rather than a day this is now realistic. Now if SS could just add the 'at least' we could all let out a collective 'ah ha now it makes sense' At least
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Post by GSV3MIaC on Mar 4, 2016 10:58:04 GMT
savingstream .. I think that bit is clear, what is less clear is, assuming I have £100k in my account (in cash or parts, either way) can I still a) Prefund-bid £100k, and go (temporarily) overdrawn by £100k if I get it all b) Prefund-bid £100k, but not go overdrawn by more than £10k (unless I have asked for a higher limit) c) Can't prefund more than £10k (which is clearly daft, but is one interpretation of your original message). ditto for the SM .. Can I bid/buy what I like of any loan as long as my total 'debt' doesn't exceed my £100k investment, or am I limited to £10k overdrawn, or is that a limit per buy, or what? I originally assumed that what you were saying was only about the SM .. i.e. paraphrasing "You know you are limited to £10k, or the total of your investments, whichever is larger, for making prefund bids .. well the same limit now applies to what you can buy (without paying for) on the SM" .. however the last line of your original post about a £10k limit for prefund confused me. ooops .. took me so long to type it that it was obsolete by the time it arrived. I deduce my paraphrase was right, it was 'at least', and interpretation 'a' is the correct one.
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Post by savingstream on Mar 4, 2016 10:59:02 GMT
I'll wait for a further update, I think the BH'rs will be emailing in soon when they discover they are all restricted to a £10k deficit on the secondary market. There should not be a limit of £10k if your holdings are more than this. If so, please send us a PM, it might be a bug.
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star dust
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Post by star dust on Mar 4, 2016 10:59:26 GMT
OK maybe a little unclear - everyone has a free credit limit of £10k regardless of holdings on account or time with us or any other restriction. We are not limiting bids in PF or SM to anyone with holdings or cash higher than that amount on account. You can bid as high as you like if your account can support it. What we wanted to stop was someone with £50k in their account buying up the SM to the tune of £1.2m which happened a couple of times earlier this week and had no intention of depositing cash to pay for it, so we cancelled their transactions and dropped it back onto the SM. In hindsight this caused a little consternation so we will drip it in next time. Thanks for the clarification, presumably there won't be a next time in that scenario though  .
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Post by GSV3MIaC on Mar 4, 2016 11:01:36 GMT
Will there be a public flogging and hanging we can buy tickets for, or are the culprits blaming it all on the cat(or a mad 'bot) I wonder?
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Post by savingstream on Mar 4, 2016 11:02:04 GMT
savingstream .. I think that bit is clear, what is less clear is, assuming I have £100k in my account (in cash or parts, either way) can I still a) Prefund-bid £100k, and go (temporarily) overdrawn by £100k if I get it all b) Prefund-bid £100k, but not go overdrawn by more than £10k (unless I have asked for a higher limit) c) Can't prefund more than £10k (which is clearly daft, but is one interpretation of your original message). ditto for the SM .. Can I bid/buy what I like of any loan as long as my total 'debt' doesn't exceed my £100k investment, or am I limited to £10k overdrawn, or is that a limit per buy, or what? I originally assumed that what you were saying was only about the SM .. i.e. paraphrasing "You know you are limited to £10k, or the total of your investments, whichever is larger, for making prefund bids .. well the same limit now applies to what you can buy (without paying for) on the SM" .. however the last line of your original post about a £10k limit for prefund confused me. ooops .. took me so long to type it that it was obsolete by the time it arrived. I deduce my paraphrase was right, it was 'at least', and interpretation 'a' is the correct one. a
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webwiz
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Post by webwiz on Mar 4, 2016 11:56:29 GMT
I may be in the minority here, but I'm sorry that sunspot has been permanently banned. I believe he brought some interesting alternative ideas and viewpoints to the table. It seems to me that some forum members were not able to deal with this, and something of a playground mentality took hold. Very unedifying. . He (or she) may be back already, under a new user name and email. It must be almost impossible to ban someone. Perhaps we should have a poll on what his/her new name is. Dude?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 4, 2016 11:59:28 GMT
I may be in the minority here, but I'm sorry that sunspot has been permanently banned. I believe he brought some interesting alternative ideas and viewpoints to the table. It seems to me that some forum members were not able to deal with this, and something of a playground mentality took hold. Very unedifying. . He (or she) may be back already, under a new user name and email. It must be almost impossible to ban someone. Perhaps we should have a poll on what his/her new name is. Dude? STOP IT!!!   Hang on a minuite.... how do you know that sunspot has been banned geoff ? It's not on his account, and the MODs haven't mentioned it......
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Post by Deleted on Mar 4, 2016 12:01:49 GMT
Invest now pay later I'm with sam i am with this one; the more I read SS OP, the more I can't quite understand "EVERYONE has a £10,000 INPL (we like that acronym) limit per pre-fund loan including new investors"; I think this need some clarification from savingstream OK maybe a little unclear - everyone has a free credit limit of £10k regardless of holdings on account or time with us or any other restriction. We are not limiting bids in PF or SM to anyone with holdings or cash higher than that amount on account. You can bid as high as you like if your account can support it. What we wanted to stop was someone with £50k in their account buying up the SM to the tune of £1.2m which happened a couple of times earlier this week and had no intention of depositing cash to pay for it, so we cancelled their transactions and dropped it back onto the SM. In hindsight this caused a little consternation so we will drip it in next time. If their intention was to 'steal' on the relative (large) interest for 1-2 days, this can be seen as an act of attempted fraud towards your accounts/profits. The limitation is good, but I think this person deserves a different treatment (like banning him forever and reporting the episode to the police).
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SteveT
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Post by SteveT on Mar 4, 2016 12:02:51 GMT
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geoff
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Post by geoff on Mar 4, 2016 12:04:12 GMT
He (or she) may be back already, under a new user name and email. It must be almost impossible to ban someone. Perhaps we should have a poll on what his/her new name is. Dude? STOP IT!!! Hang on a minuite.... how do you know that sunspot has been banned geoff ? It's not on his account, and the MODs haven't mentioned it...... Try to keep up cooling_dude 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 4, 2016 12:07:02 GMT
He (or she) may be back already, under a new user name and email. It must be almost impossible to ban someone. Perhaps we should have a poll on what his/her new name is. Dude? STOP IT!!! Hang on a minuite.... how do you know that sunspot has been banned geoff ? It's not on his account, and the MODs haven't mentioned it...... There was a post from MRLondon when the thread was quarantined which was subsequently updated with the news they had been banned I assume they can still read the forum as a guest however so careful with any name dropping Beetlejuice, Beetlejuice ....
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