PBL104 - 3 Bedroom Flat, London - REPAID (Before Drawdown)

I don't think the new rule has had much (if any) impact on pre-funding.

However, after my first extended session, today on the SM (when the bloody website wasn't down) since this 7-day rule was applied, I have found that it has affected my ability to diversify.  I was happy to invest in some older loans to get rid of the Gloucestershire loans that I hold to much of, but frustratingly as better investment became available I was unable to offset them against my newly acquired older loans.

Not a fan TBH...

I think the next big loan people will not try to prefund as much. Think a lot of people got a shock when they could not just sell it and panicked sold other items

Yes because that's exactly how I'm thinking and what I did this afternoon. I got sub £1,000 allocations in the two loans that went live today. That was because I didn't feel happy enough about them to want bigger slices so I set my pre funding quite low and I was quite happy with what I got given what I thought about the loans.

With that relatively small amount of new funding to find, in the past I might have been inclined to transfer in new money from my bank account rather than sell off bits of other things to pay for it. But with the way things are I have decided not to increase my overall investment in saving stream platform and to just keep things as they are and diversify a bit more when the opportunity arises such as today.

I sold smallish chunks of about 7 or 8 loans to finance my new allocations whereas in the past I probably wouldn't have done that.

If the one default is putting people of investing in SS then I suggest that they really need to look at if they want to invest in these kind of sites, defaults are to be expected. Previously people have been putting in far more in to SS then they ever wanted and were unwilling to hold with the expectation that they could sell it on the SM at least this default has shown them that SS is not the golden goose that will carry on paying 12% no matter what.

Expect a total pre-fund of about £7-8M, as happened today and on 14/May when the last two large loans were released?

That might be too high if the loan being released is quite large, or if there is only a short gap since the previous large loan was released.

I find myself agreeing with you in a way although perhaps not in the way you intended.

What I mean is I think this garden centre default could end up being a blessing in disguise in that it will concentrate people's minds and realign them to the real situation and the real risk and make people make more rational and researched and informed decisions about their investments in the future. As long as things go along without any significant default and people are trousering 12% they can get lulled into a false sense of security and put themselves at more risk than they should be putting themselves at.

I was surprised how little I was allocated for 103/104 considering it's meant to fill from the bottom up. Guess I miscalculated.