sl75
Posts: 2,092 
Likes: 1,245
|
Post by sl75 on Apr 11, 2016 13:15:26 GMT
I like the idea of making the sales queue visible but it would appear that you have to list something for sale before you can see the queue?? If that is the case, can I make a plea to make it visible before committing to a sale as I believe looking at the queue is all part of the decision process of offering a loan part for sale or not. Ordinarily, the queue will be the same as the "available" amount on the individual loan page. If SS are selling some of their own loan parts (or ones that they've cancelled due to non-payment) at a lower priority, giving you a boost in the lending queue, one can just view that as an unexpected bonus!
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Apr 11, 2016 13:16:35 GMT
Perhaps something has been tweaked already, or the earlier sales queue genuinely was all from retail sellers. There's a further £1.1m of PBL087 just appeared (bring the total to £1221,726.62) yet a test sale part showed there being a selling queue ahead of £121,726.62.
|
|
|
|
Post by GSV3MIaC on Apr 11, 2016 13:20:39 GMT
I commented earlier that there was definitely a backlog of 87/88 awaiting sale once the dust had settled a bit .. never mind the giant slug that SS still held. It'll take a wee while for it to all vanish (and by that time maybe some more DFLxxx to release, or even some more pipeline loans going live).
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Apr 11, 2016 18:38:39 GMT
Perhaps something has been tweaked already, or the earlier sales queue genuinely was all from retail sellers. There's a further £1.1m of PBL087 just appeared (bring the total to £1221,726.62) yet a test sale part showed there being a selling queue ahead of £121,726.62. I think it must've been retail lending. I sold some this morning behind a c. £128k Q, it had sold by late this afternoon, and placing a bit up a while ago (when there was c. £900k for sale) it showed a Q of zero. Went like lightening too  .
|
|
|
|
Post by GSV3MIaC on Apr 11, 2016 19:02:15 GMT
Four repayments today definitely helped, there being not much else to invest in (and PBL91 isn't exactly going to make a big dent).
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Jun 13, 2017 0:10:19 GMT
The ability to cancel a sale whilst only part sold will be in place very soon.
We are going to show the amount for sale in front of you in the queue as well so you can make a more informed decision about selling/cancelling the sale.
Interest will be earned whilst loan parts are for sale. The reason we don't currently offer this is to discourage gaming of the SM by people not paying for their parts and still earning interest. The interest currently goes into the Provision Fund but are happy to amend this.
Anything to add with regards the SM whilst we are focussing on this?
How is the implementation of cancelling part sold loans progressing as we can on other platforms, this will avoid unnecessary lender lock-in (or having to manually chop up big 'steaks' in to more digestible pieces). Ditto the move to paying interest on loan parts for sale investors have already paid for.
|
|
izigor
Member of DD Central
Posts: 162
Likes: 86
|
Post by izigor on Jun 13, 2017 3:02:44 GMT
"Interest will be earned whilst loan parts are for sale."
That's very interesting, I wasn't aware Lendy had this in the to-do list. Is this anywhere close to being implemented? I'd welcome this very much. When I had put up for sale some of the loans I had, there was a chimp in Chester Zoo and while he has now turned into a man thanks to evolution, the sales queue for my loans has hardly notched down £25.
sigh.
|
|
jcb208
Member of DD Central
Posts: 838
Likes: 638
|
Post by jcb208 on Jun 13, 2017 5:26:29 GMT
"Interest will be earned whilst loan parts are for sale." If this was implemented the sale queues would be vast as every one will be putting loans up for sale much earlier then they do now
|
|
warn
Member of DD Central
Curmudgeon
Posts: 638
Likes: 659
|
Post by warn on Jun 13, 2017 7:24:42 GMT
...Interest will be earned whilst loan parts are for sale...
I should be very disappointed indeed if this were to be implemented. The SM would almost certainly balloon permanently, making diversification (within the platform) much more difficult, especially for new lenders. A retrograde step, IMO.
|
|
adrianc
Member of DD Central
Posts: 10,017
Likes: 5,146
|
Post by adrianc on Jun 13, 2017 13:37:49 GMT
When I had put up for sale some of the loans I had, there was a chimp in Chester Zoo and while he has now turned into a man thanks to evolution... ...and is a leading poster here. Seriously, paying interest on unsold parts would see the SM explode.
|
|
izigor
Member of DD Central
Posts: 162
Likes: 86
|
Post by izigor on Jun 19, 2017 12:04:15 GMT
Yes good point about the issue of SM exploding if people are encouraged to list for sale without consequences. I didn't see it like that before. Having waited nearly two months for some of my loan parts to sell, I have decided to cancel the sales. It isn't a sign of U turn or any confidence-gaining in Lendy, in fact quite the opposite. Now I'm convinced that Lendy isn't safe for long. The defaults have risen to £23 Million and for those with tardy loans like me, there's no way out.
All that is left for me to do is cross my fingers, hold the squeaky bum and pray.
|
|
NSFW
Posts: 118
Likes: 58
|
Post by NSFW on Jun 19, 2017 14:18:00 GMT
When I had put up for sale some of the loans I had, there was a chimp in Chester Zoo and while he has now turned into a man thanks to evolution... ...and is a leading poster here. Seriously, paying interest on unsold parts would see the SM explode. Who should get the money then? Seems inappropriate that Lendy gobbles it up when it's still ours until sold, with the risk still being ours too.
|
|
gnasher
Member of DD Central
Posts: 207
Likes: 146
|
Post by gnasher on Jun 19, 2017 16:22:22 GMT
Totally agree. If you have the risk you should get the interest.
Interest with no risk would be great, but it does not happen (at any decent rate)
Risk with no interest should not happen either.
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Jun 19, 2017 16:30:29 GMT
MoneyThing pay interest on unsold parts - when their Bolton loan repays tomorrow I doubt there'll be much left on their SM
Investors will gain comfort that they have the ability to sell without losing anything, and therefore will be happier to hold off from selling - same concept as when one sells, all sell
|
|
toffeeboy
Member of DD Central
Posts: 538
Likes: 385
Member is Online
|
Post by toffeeboy on Jun 20, 2017 16:32:05 GMT
MoneyThing pay interest on unsold parts - when their Bolton loan repays tomorrow I doubt there'll be much left on their SM Investors will gain comfort that they have the ability to sell without losing anything, and therefore will be happier to hold off from selling - same concept as when one sells, all sell I disagree you withnell, if you can put a loan up for sale with no penalty and just leave it there then a lot more people would just put their loan parts up for sale happy if they don't sell as they are still receiving interest on them. The fact that you can put a loan up for sale without losing out on the interest will not bring more money to the website but will encourage more loans to be placed on the SM.
At the end of the day the idea of investing in these are that you hold to term so if you choose not to hold to term then why shouldn't there be a penalty as basically you are trying to game the system. You earn the interest on the early part of the loan then try to sell the loan off incase it defaults leaving someone else with the risk.
It must cost Lendy something to run the SM so why shouldn't they keep the interest on loans that they are arranging a sale for, other sites charge for this service anyway whereas Lendy only make money from displaying it on their site.
|
|
.
