ped
Member of DD Central
Posts: 255 
Likes: 84
|
Post by ped on Jun 15, 2016 14:23:23 GMT
Surprised there are no residual amounts for any of these loans available on the SM. Can they have been able to successfully allocate the whole lot??? spareafewcoppersguv - when the new loans went live the SM had between 1K and 94K of the new loans available but they went like hot cakes.
|
|
ped
Member of DD Central
Posts: 255
Likes: 84
|
Post by ped on Jun 15, 2016 14:24:12 GMT
See page 16 of this thread for the go live fun.
|
|
|
|
Post by GSV3MIaC on Jun 15, 2016 14:24:30 GMT
Just noticed that my email folder doesn't have any "New pre-fund investment" emails from any of today's new loans. Did anyone else get these? If the update has broken those email notifications, I wonder how many of the less active members aren't even aware that the new loans have gone live yet, because they normally rely on those emails, and are about to discover a huge negative balance later this evening / tomorrow...? I got them, my partner (who was asking for less) did not .. seems to be 'all or nothing', i.e. I got 9 emails and she got none. Rather a poor showing by SS IMHO, one way and another (launching 9 when they said they'd not, slipping it a day, changing to bottom up with no announcement, failing to send some of the emails, just for a start). I have advocated 'bottom up' (either for all, or for the first £x) but not 'with no advance notice, specifically designed to trap the game players' (when combined with the 'no sale for 7 days'). Yes, people should not over-prefund (and bottom up means there is no benefit in doing so), but I'm used to the odd unreliable person .. unreliable platforms I can manage without.
|
|
|
|
Post by p2plender on Jun 15, 2016 14:28:36 GMT
level of the SM suggest a lot cannot pay their bills for the new loans......... yep. Perhaps we can have an auction of these loans... I'll take some off their hands for say 20%..
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jun 15, 2016 14:29:08 GMT
I got no "Congrumpulations! You have been allocated ..." emails for my six successes today. It's like being "placed" in a race and not getting a medal!  |
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jun 15, 2016 14:30:01 GMT
level of the SM suggest a lot cannot pay their bills for the new loans......... yep. Perhaps we can have an auction of these loans... I'll take some off their hands for say 20%..
|
|
bloodycat
Member of DD Central
Posts: 184
Likes: 84
|
Post by bloodycat on Jun 15, 2016 14:42:53 GMT
I got no "Congrumpulations! You have been allocated ..." emails for my six successes today. It's like being "placed" in a race and not getting a medal! I only got mine 20 minutes ago, over 2 hours after I had noticed and transferred the shortfall in funds. I was slightly surprised how big some peoples allocations were, but it looks like only an average of ~1400 people went for each loan rather than the usual ~2000 so clearly a lot of us did adjust our default pre-funding levels to ensure we didn't get more than we were comfortable with. I went for an equal allocation across all of them which is much less than I would normally do as they are all effectively the same borrower.
|
|
goopy
Member of DD Central
Posts: 307
Likes: 144
|
Post by goopy on Jun 15, 2016 15:08:42 GMT
I didn't prefund any of these, picked up what I wanted when they went live...  |
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Jun 15, 2016 15:14:12 GMT
Lots of people arent going to be able to fullfill their prefund, with the SM the way it is. Then they shouldn't have prefunded then should they! Its not my system! Why shouldn't they? Savingstream encourage members to sell loans part on the SM to pay for prefunded sales, we all do it. You cant sell loans in advance because you dont know what prefunding you will receive. You do however need to be prepared to sell newer loans if there is a big queue on older loans.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Jun 15, 2016 15:18:10 GMT
Whats the size of the provision fund now and where is it on the SS website?
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Jun 15, 2016 15:29:50 GMT
Whats the size of the provision fund now and where is it on the SS website? Go to 'how it works' and scroll down. It's at £2,367,769 (but I'm not sure how often that is updated)
|
|
|
|
Post by portlandbill on Jun 15, 2016 15:38:12 GMT
Then they shouldn't have prefunded then should they! Its not my system! Why shouldn't they? Savingstream encourage members to sell loans part on the SM to pay for prefunded sales, we all do it. You cant sell loans in advance because you dont know what prefunding you will receive. You do however need to be prepared to sell newer loans if there is a big queue on older loans. In the same way that we're encouraged to buy on credit card? I was always taught "if you don't have the money to pay for it, you can't have it"  ?
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Jun 15, 2016 17:02:36 GMT
Sorry Guys... I'm a tad late to the game... I got 100% what I asked on the two I was after, but a quick browse through the comments show that SS allocated all these loans bottoms up...  Does anybody know what the bottom up figure was across these loans, or is it an entirely new system that SS are using? |
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Jun 15, 2016 17:04:11 GMT
Its not my system! Why shouldn't they? Savingstream encourage members to sell loans part on the SM to pay for prefunded sales, we all do it. You cant sell loans in advance because you dont know what prefunding you will receive. You do however need to be prepared to sell newer loans if there is a big queue on older loans. In the same way that we're encouraged to buy on credit card? I was always taught "if you don't have the money to pay for it, you can't have it" ? So you want to scrap INPL! I'm not sure many on here would agree with you.  There is no problem having a credit card, if you pay off the balance at the end of the month.
|
|
|
|
Post by meledor on Jun 15, 2016 17:18:35 GMT
In the same way that we're encouraged to buy on credit card? I was always taught "if you don't have the money to pay for it, you can't have it" ? So you want to scrap INPL! I'm not sure many on here would agree with you. There is no problem having a credit card, if you pay off the balance at the end of the month. Liz, I don't see the connection with INPL which is just a matter of convenience - you do not have to transfer the cash into SS before you buy. The issue is surely whether you have the cash in the first place. If you are not able to transfer the cash in the required time then there is an element of gaming going on. I think some people have got so used to being able to sell at will on the SM that they have forgotten the risks they were taking.
|
|
?
