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Post by peregrine on Jun 16, 2016 11:03:08 GMT
Still plenty of demand for the new loans anyway - having received a more than I really wanted I sold some excess as soon as my deposit cleared and it went instantly.... so that's my funds for today's launch sorted. I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ?
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Post by GSV3MIaC on Jun 16, 2016 11:04:34 GMT
Blimey - I'm not sure how much clearer I can be. I wanted lots of PBL110 and if SS had stuck to their announced system, I would have got lots. I have funds to pay for everything I asked for. If you announce a system, stick to it. Don't arbitrarily change the rules without telling people. I did say in another thread someplace that this will have annoyed the BHs (i.e. you, apparently, among them) however it might clear the decks for future releases. I do agree with you though that SS should do what they say, even if what they say is 'we are going to pick an allocation system at random for each loan release, so game at your own risk'. At least then we'd know. 8>.
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Post by GSV3MIaC on Jun 16, 2016 11:06:19 GMT
I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ? You can sell them instantly iff (if, and only if!) your account is in credit. So a) send money (or sell something older than 7 days) to get a +ve balance, then b) sell the parts, then c) send money back again (or re-buy what you had to sell).
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arbster
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Post by arbster on Jun 16, 2016 11:12:48 GMT
Blimey - I'm not sure how much clearer I can be. I wanted lots of PBL110 and if SS had stuck to their announced system, I would have got lots. I have funds to pay for everything I asked for. If you announce a system, stick to it. Don't arbitrarily change the rules without telling people. I did say in another thread someplace that this will have annoyed the BHs (i.e. you, apparently, among them) however it might clear the decks for future releases. I do agree with you though that SS should do what they say, even if what they say is 'we are going to pick an allocation system at random for each loan release, so game at your own risk'. At least then we'd know. 8>. Yes, perhaps savingstream have fallen foul of trying to be overly helpful in the past. Had they never explained the process, no one could complain about the allocations they received. Maybe that explains their notable lack of engagement in recent weeks - sometimes it's more trouble than it's worth, especially if you're already the most profitable P2P site in the known universe.
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pom
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Post by pom on Jun 16, 2016 12:16:12 GMT
Still plenty of demand for the new loans anyway - having received a more than I really wanted I sold some excess as soon as my deposit cleared and it went instantly.... so that's my funds for today's launch sorted. I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ? As GSV3MIaC said, so long as you're not in debt you can sell them - key words in my post being "as soon as my deposit cleared" Am well chuffed actually cos I also then withdrew some money at the same time (I didn't want to find myself unable to sell them if for some reason today's loan went live before my deposit was credited, so I actually transferred in enough to cover that prefund too) which has already just hit my bank account - had thought I might have to wait until tomorrow to get it back
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adrianc
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Post by adrianc on Jun 16, 2016 13:11:15 GMT
Couldn't agree more. Whatever assumptions people are making about how the system works behind the scenes, bidding more than you can afford to fund with external funds will always risk ending up with more than you can afford. And it would be another risk to assume that there'll be sufficient liquidity in the SM so that you can offload everything you want in the run up to and following a big launch. Blimey - I'm not sure how much clearer I can be. I wanted lots of PBL110 and if SS had stuck to their announced system, I would have got lots. I have funds to pay for everything I asked for. If you announce a system, stick to it. Don't arbitrarily change the rules without telling people. By now, SS doing the unexpected when it comes to PF allocation should be expected. But, either way, nobody is ever going to know in advance what they're going to get - it's all guesswork. 110 is a £1.2m loan. 1,446 people pre-funded it. That's about £850 each, on average. Sure, some are smaller, leaving more for BHitters, but even so - it's only going to ever spread so far... In practice, everybody who wanted " lots" got at least £1,500 plus a percentage above that, AIUI - damn near twice the straight average per investor, as a base. sam i am said he got £2600/26% of PF for 110, so £10k PF. If it was base of £1500, then that'd suggest £1100 out of £8500, or 13%.
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Post by peregrine on Jun 16, 2016 15:43:09 GMT
I'm a newbie so can you help me out. I have been allocated loan parts and want to offload some of them but I thought they were not eligible for sale for 7 days. How did you manage to sell your excess instantly ? You can sell them instantly iff (if, and only if!) your account is in credit. So a) send money (or sell something older than 7 days) to get a +ve balance, then b) sell the parts, then c) send money back again (or re-buy what you had to sell). Ok I'm being really thick but....you say here you can only sell something older than seven days - so how could you offload some of the new loan parts from the last London lot of loans given that they were less than 7 days old. I am soooo confused !!
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archie
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Post by archie on Jun 16, 2016 15:46:48 GMT
You can sell them instantly iff (if, and only if!) your account is in credit. So a) send money (or sell something older than 7 days) to get a +ve balance, then b) sell the parts, then c) send money back again (or re-buy what you had to sell). Ok I'm being really thick but....you say here you can only sell something older than seven days - so how could you offload some of the new loan parts from the last London lot of loans given that they were less than 7 days old. I am soooo confused !! The 7 day restriction only applies if you have a negative balance.
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oldgrumpy
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Post by oldgrumpy on Jun 16, 2016 15:48:36 GMT
You can sell them instantly iff (if, and only if!) your account is in credit. So a) send money (or sell something older than 7 days) to get a +ve balance, then b) sell the parts, then c) send money back again (or re-buy what you had to sell). Ok I'm being really thick but....you say here you can only sell something older than seven days - so how could you offload some of the new loan parts from the last London lot of loans given that they were less than 7 days old. I am soooo confused !! If your account is in credit you can sell what you want when you want (well, you can try).
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Jun 16, 2016 15:54:55 GMT
Ok I'm being really thick but....you say here you can only sell something older than seven days - so how could you offload some of the new loan parts from the last London lot of loans given that they were less than 7 days old. I am soooo confused !! You have to sell other older loans (hopefully you have some) that you've purchased more than 7 days ago.
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Post by meledor on Jun 16, 2016 15:59:35 GMT
Couldn't agree more. Whatever assumptions people are making about how the system works behind the scenes, bidding more than you can afford to fund with external funds will always risk ending up with more than you can afford. And it would be another risk to assume that there'll be sufficient liquidity in the SM so that you can offload everything you want in the run up to and following a big launch. Blimey - I'm not sure how much clearer I can be. I wanted lots of PBL110 and if SS had stuck to their announced system, I would have got lots. I have funds to pay for everything I asked for. If you announce a system, stick to it. Don't arbitrarily change the rules without telling people. But did you want lots of the other loans? If not I think there is your problem. SS took the pragmatic decision with a number of loans to the same borrower going live to use the same fair system across the board. Those who spread their investment over a reasonable selection (I went for 5 of the 9) were rewarded as against those who were being too selective. I don't think every little decision that SS makes need communicating in advance, we need to allow them scope to do things as they see fit rather than trying to tie them up with a lot of arbitrary rules.
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ilmoro
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Post by ilmoro on Jun 24, 2016 11:51:36 GMT
Update on PBL108, security val came in £500k light so loan reduced to maintain LTV at 70%, £1.47m now
Loans to S**** now drawdown as per SS note earlier
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Post by Deleted on Jun 24, 2016 12:13:41 GMT
Peter Wetherell, who runs an estate agency in Mayfair, said the decision to leave could lead to a “Brexit bubble” in some parts of the London property market.
“This morning already sterling has plummeted to a low not seen since 1985 and this will now create a short-term buying opportunity for US dollar and euro-based property investors,” he said.
“This is a market for risk-takers and people able to spot high-risk but potentially lucrative opportunities that have emerged overnight due to the fluxes in the markets. Dollar-based Middle East and Asian investors in particular will now wake up this morning and look at short-term buying opportunities in the central London property market.”
On Wednesday, James Evans, a director at Douglas & Gordon, which covers south and west central London, said a vote to leave would mean “an exciting buyers’ market”. He said: “If there was a fall in appetite it would be filled very quickly by people who are sitting on a lot of cash and not getting a return anywhere else. These would be domestic buyers with cash or foreign buyers who are also getting an extra bonus because of the currency.”
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Post by Deleted on Jun 24, 2016 12:22:08 GMT
7,8,9 & 10 are refurbishment "under way" which is also a negative. So the better ones are IMO 113 & 115 both 4 bed mid terraces in Fulham ( freehold ) refurbished 111 & 112 both 2 bed flats in Notting Hill / Bayswater (c. 90 year leases) refurbished EDIT 1: Looking at the last sold prices of 113/115 £1.265m Sep 14 / £1.1M Jan 15 vs loan values 70% LTV £0.98m / £0.96m vs new 2016 valuation £1.4m / £1.4m and the fact that 4 bed houses are in desperately short supply in inner London; these two look particularly solid. In my much cheaper area of inner London 4 bed freehold townhouses are selling for £0.9m to £1.2m. EDIT 2:
111 as noted by investor is being sold and is under offer so will probably repay within a month to six weeks 112 is very close to the Paddington mainline tracks; noise disturbance is inevitable esp. in summer with open windows
With so many London loans to choose from I was wondering which one's are considered the best. I know 113 and 115 were considered the better one's, but 115 is under offer and likely to repay soon.
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locutus
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Post by locutus on Jun 24, 2016 12:36:56 GMT
With so many London loans to choose from I was wondering which one's are considered the best. I know 113 and 115 were considered the better one's, but 115 is under offer and likely to repay soon. 110 was my pick of the bunch. In fact, I might buy some more.
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