fp
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Post by fp on Aug 10, 2016 11:57:36 GMT
henders dave We added a few loans last week, but most importantly the long-awaited allocation upgrade will be released at some point next week. We finished primary testing this week, and the results are very encouraging: full allocation of investors with less than £5-10k in 2-5 days. We're now ensuring that we've thought through every 'corner-case', before releasing. But we are almost there...one last push. On loan purchasing, we have been a little slower than usual, but in conjunction with the upgrade above, we are at a good rate. I can't wait to have this released and get everyone invested promptly! Some very positive movement on both of my accounts today, the smaller account (2.5k) has gone from around 60% to fully invested, the other has accrued around another 10% of investment so far.
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oldgrumpy
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Post by oldgrumpy on Aug 10, 2016 12:06:59 GMT
henders dave We added a few loans last week, but most importantly the long-awaited allocation upgrade will be released at some point next week. We finished primary testing this week, and the results are very encouraging: full allocation of investors with less than £5-10k in 2-5 days. We're now ensuring that we've thought through every 'corner-case', before releasing. But we are almost there...one last push. On loan purchasing, we have been a little slower than usual, but in conjunction with the upgrade above, we are at a good rate. I can't wait to have this released and get everyone invested promptly! Some very positive movement on both of my accounts today, the smaller account (2.5k) has gone from around 60% to fully invested, the other has accrued around another 10% of investment so far. Very good! the £1000 I placed two days ago stood at £60 lent at 6.66% on Monday, nothing more yesterday, and the remaining £940 was distributed today - averaging 8.86% (before BM fee). I'll transfer a bit more from FC and RS later. PS, Seeing "gross return" £0.02, "BM fees outstanding" £0.02 is a bit frightening at this stage - after tax I am losing!  
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Post by stevefindlay on Aug 10, 2016 12:26:57 GMT
We've just implemented and run the software upgrade, so most smaller investors (<£5,000) should have seen an uptick in their allocations oldgrumpy - regarding fees - we don't normally collect fees until we are happy with the account. We generally check to see that clients are operating at an 8:1 ratio - i.e. their gross return is 8x our fees; which meant they should be getting 7.0% net on invested capital. You should see your gross return outstrip your fees over the coming days / week. |
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oldgrumpy
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Post by oldgrumpy on Aug 10, 2016 12:47:18 GMT
We've just implemented and run the software upgrade, so most smaller investors (<£5,000) should have seen an uptick in their allocations oldgrumpy - regarding fees - we don't normally collect fees until we are happy with the account. We generally check to see that clients are operating at an 8:1 ratio - i.e. their gross return is 8x our fees; which meant they should be getting 7.0% net on invested capital. You should see your gross return outstrip your fees over the coming days / week. I'll put that bottle of 15 year old malt back in the cupboard until supper time then. 
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Post by scoobydoo on Aug 10, 2016 12:55:43 GMT
We've just implemented and run the software upgrade, so most smaller investors (<£5,000) should have seen an uptick in their allocations oldgrumpy - regarding fees - we don't normally collect fees until we are happy with the account. We generally check to see that clients are operating at an 8:1 ratio - i.e. their gross return is 8x our fees; which meant they should be getting 7.0% net on invested capital. You should see your gross return outstrip your fees over the coming days / week. I had deposited £1000 into Bondmason early last week. £120 was invested during the first day then nothing until today when the rest got invested. In theory this is good but wasn't the cash drag due to lack of suitable loans and if so how does a software upgrade solve that? I hope it is not solved by Bondmason lowering it's standard of approved loans to accommodate increasing investor numbers. (Apologies if this has been asked and answered before)
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dave
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Post by dave on Aug 10, 2016 12:56:17 GMT
Thanks Steve, my holding jumped from 10% to 35% of available funds this morning  Dave |
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guff
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Post by guff on Aug 10, 2016 13:17:53 GMT
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Post by stevefindlay on Aug 10, 2016 13:33:59 GMT
We've just implemented and run the software upgrade, so most smaller investors (<£5,000) should have seen an uptick in their allocations oldgrumpy - regarding fees - we don't normally collect fees until we are happy with the account. We generally check to see that clients are operating at an 8:1 ratio - i.e. their gross return is 8x our fees; which meant they should be getting 7.0% net on invested capital. You should see your gross return outstrip your fees over the coming days / week. I had deposited £1000 into Bondmason early last week. £120 was invested during the first day then nothing until today when the rest got invested. In theory this is good but wasn't the cash drag due to lack of suitable loans and if so how does a software upgrade solve that? I hope it is not solved by Bondmason lowering it's standard of approved loans to accommodate increasing investor numbers. (Apologies if this has been asked and answered before) We aren't lowering our lending standard - quite the opposite - the new software enables us to be pickier over new loans if we need to be. This morning we added only 2 new loans across this new module, which meant that many of our smaller clients are near to 100% allocated. The software re-jigs the existing loan book when a new loan arrives (and when we run the software over the new loan) so that existing fully-allocated clients get greater diversification; and the new clients (not fully invested) get faster allocation.
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oldgrumpy
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Post by oldgrumpy on Aug 10, 2016 15:14:35 GMT
Huh! The rejig has meant that £3.33 of my £1000 invested by this morning has been uninvested* but the rate has gone up by 0.03% I look forward to tomorrow's game. * yet my list of investments shows 50 x £20. Has one of the amortising ones paid back £3.33 during the day which has not been updated on the loans list yet? |
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nd
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Post by nd on Aug 10, 2016 16:14:07 GMT
Same here. Allocated almost 40 new investments today so felt inclined to chuck a bit more cash across. 8.8% return (before fee) and am quite content with that as well. Looks a big improvement. Well done stevefindlay and all at BM!
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Post by hartshay on Aug 10, 2016 17:25:23 GMT
1k test payment landed in Bondmason Monday now fully invested (bar a few bits) today and nicely diversified..good start chaps..may well drop some more in soon (from a platform offering 7% but taking forever to invest bits and bobs).
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Post by stevefindlay on Aug 11, 2016 17:28:17 GMT
Huh! The rejig has meant that £3.33 of my £1000 invested by this morning has been uninvested* but the rate has gone up by 0.03% I look forward to tomorrow's game. * yet my list of investments shows 50 x £20. Has one of the amortising ones paid back £3.33 during the day which has not been updated on the loans list yet? That's a repayment - and yes, there can be a delay in showing this in the view - we cache some of the views to increase page loading speeds, and clear the cache a few times a day - so I wouldn't recommend watching the screen all day, as it probably won't be very interesting!
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Post by rookyone on Sept 15, 2016 10:26:28 GMT
Joined BondMason this Monday with just a test £1k to see how it shaped up against other P2P investment companies in my portfolio. Initially, I had a 9.6% investment uptake, meaning a whopping 90.4% was earning 0% for me!!!
Well a few days later and my total investment has gone down 8.3%? How is this possible you may ask? Well, the Bondmason investment algorithm matched some of my investments against loans with Zero months left... That's just not a very clever thing to do...
My gut feeling is BondMason has too many investors chasing too few loans...
My early impressions, which are so very important, I would rate BondMason a low 2 out of 10.
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Greenwood2
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Post by Greenwood2 on Sept 15, 2016 13:32:21 GMT
Seems a bit odd you might want to give them a ring and get them to check your account set up.
I'm 99%+ invested now.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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Post by Neil_P2PBlog on Sept 15, 2016 13:34:37 GMT
Joined BondMason this Monday with just a test £1k to see how it shaped up against other P2P investment companies in my portfolio. Initially, I had a 9.6% investment uptake, meaning a whopping 90.4% was earning 0% for me!!! Well a few days later and my total investment has gone down 8.3%? How is this possible you may ask? Well, the Bondmason investment logarithm matched some of my investments against loans with Zero months left... That's just not a very clever thing to do... My gut feeling is BondMason has too many investors chasing too few loans... My early impressions, which are so very important, I would rate BondMason a low 2 out of 10. Give it a week or two, LW took 6 weeks to invest a penny of my money, AC has taken even longer to fully invest in their 7% account.
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