dj
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Post by dj on Oct 19, 2016 12:55:50 GMT
I also have lots of 1p & 2p differences, I also have one where I lent £70.00 and only got £69.96 back with no interest  |
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Post by propman on Oct 19, 2016 13:33:51 GMT
I await replies. I have loads of £10 bits paid back as £9.99 with zero interest. Some kind of "rounding" problem, though why it should amount to 2p missing on any account puzzles me. I can't see the current balances on loans or if they are now fully repaid, so cannot comment. I do have one £20 loan with £19.98 repaid and no interest, so possibly a 2p (plus any interest, I don't know how long I held it) error.
So far this week increased from 70% to 73% lent, and I am a small lender. It only briefly went above this figure.
I suspect some people checking quickly might assume the large "Your Balance" was the amount lent and so not appreciate that there was significant amounts unlent (only shown in smaller numbers lower in the summary).
- PM
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Oct 19, 2016 13:53:02 GMT
Status green circle with a tick means, 'The loan has fully repaid'.
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Post by stevefindlay on Oct 19, 2016 14:17:54 GMT
stevefindlay 29664 shows finished with a repayment of 19.98 to me on my 20.00 loan part. Who ate my 0.02?  et al - we've set up a quick thread on this topic. In short it is a presentation issue - you haven't lost 2p. We will fix this display. Thank you for highlighting.
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Post by stevefindlay on Oct 19, 2016 14:40:41 GMT
Back onto the topic of capital deployment / cash drag:
Status: We are currently at 71.9% allocated across the platform. Our aim is 98% +. We are disappointed and working hard to improve this.
How this has arisen: (1) actual growth has significantly outstripped expected client growth (2) seasonality of invoice discount finance has meant investments made in August (seasonal high) are now being repaid in Sep-Oct (a net reduction in lending) and (3) a slower-than-expected increase in approved loans from our approved platforms.
What we are doing to fix this: we have a strong pipeline of new lenders (both P2P and balance sheet lenders) - these have a combined loan book in excess of £2BN. The majority of these discussions are with traditional balance sheet lenders and take longer to bring on board - we have developed bilateral legal and structural agreements to do this (we are the only platform in the industry to do this) - but the agreements take time to put in place with each balance sheet lending counter-party.
What we are not doing: we are not altering our loan or platform approval process or rigour. In our opinion, cash drag is ultimately preferable to defaults, and that is how we look at any marginal lending decision. We have made 1,000+ loan investments, had 4 defaults, but have not (yet) lost a single penny.
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Oct 19, 2016 15:02:15 GMT
It will be interesting to see somewhere on the site exactly what the current state of total fund allocation is, preferably at a fixed time each day so we can decide whether or not it is a good time to earmark further funds for imminent transfer.
SF's posts have revealed this recently:
c30 Sep 100%
11 Oct c75%
19 Oct 71.9%
+ When 100% prevails, an indication of how much more capacity the platform has for immediate new fund deployment.
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Post by wiseclerk on Oct 19, 2016 15:22:12 GMT
Just out of curiosity, what happens should the situation swing to the opposite?
Say an influx of new loans available on platforms you have agreements with, but you are at 100% of Investors funds invested.
Do you temporarily fund loans of the balance sheet of Bondmason?
Or do these loans just get funded by other investors on the platforms (not through Bondmason)?
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guff
Posts: 730
Likes: 707
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Post by guff on Oct 25, 2016 9:57:37 GMT
I've been sat at 94% for the last week and there have been no further investments so it is not giving me enough confidence to invest any more for the time being. As previously stated, I would like BM to let me invest at more than 2% - any chance that this will happen stevefindlay? |
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littonowl
Member of DD Central
Posts: 398
Likes: 355
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Post by littonowl on Oct 25, 2016 10:28:22 GMT
I've been sat at 94% for the last week and there have been no further investments so it is not giving me enough confidence to invest any more for the time being. As previously stated, I would like BM to let me invest at more than 2% - any chance that this will happen stevefindlay ? Interesting variation to my dad's p/f which is still only @ 40% after about 3 weeks, and all his loans are being invested in 3% chunks (despite being on the 'auto' setting...which I understood was 2%)?!
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nairda
Member of DD Central
Posts: 112
Likes: 43
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Post by nairda on Oct 25, 2016 10:30:10 GMT
I've been sat at 94% for the last week and there have been no further investments so it is not giving me enough confidence to invest any more for the time being. As previously stated, I would like BM to let me invest at more than 2% - any chance that this will happen stevefindlay ? I've been stuck at 85% invested since the 19th October, and only marginally better prior to that. There is no sign of any activity today. I only have a modest investment so far and I certainly won't be parking any more money unless things improve significantly.
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pauls
Posts: 68
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Post by pauls on Oct 25, 2016 10:38:14 GMT
It will be interesting to see somewhere on the site exactly what the current state of total fund allocation is, preferably at a fixed time each day so we can decide whether or not it is a good time to earmark further funds for imminent transfer. SF's posts have revealed this recently: c30 Sep 100%
11 Oct c75%
19 Oct 71.9% + When 100% prevails, an indication of how much more capacity the platform has for immediate new fund deployment. I second this idea. Would help for timing of further deposits.
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guff
Posts: 730
Likes: 707
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Post by guff on Oct 25, 2016 10:39:23 GMT
I've been sat at 94% for the last week and there have been no further investments so it is not giving me enough confidence to invest any more for the time being. As previously stated, I would like BM to let me invest at more than 2% - any chance that this will happen stevefindlay ? Interesting variation to my dad's p/f which is still only @ 40% after about 3 weeks, and all his loans are being invested in 3% chunks (despite being on the 'auto' setting...which I understood was 2%)?! The numbers are rounded up to the nearest £10, so 2% of £1000 is £20 but 2% of £1000.01 results in £30 being invested.
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nairda
Member of DD Central
Posts: 112
Likes: 43
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Post by nairda on Oct 25, 2016 12:00:43 GMT
Well, blow me, someone must have been listening, I've just clocked up another £30 investment. Let's see if it continues as the day progresses.
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pauls
Posts: 68
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Post by pauls on Oct 25, 2016 12:28:23 GMT
Well, blow me, someone must have been listening, I've just clocked up another £30 investment. Let's see if it continues as the day progresses. Well nothing for me :-) Would be good to know what the queue ahead is like though.
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Post by stevefindlay on Oct 28, 2016 14:14:04 GMT
Quick update on deployment across the platform: - 30 Sep: 100%
- 11 Oct: c75%
- 19 Oct: 71.9%
- 28 Oct: 81.4% (74.9% invested and allocated, with 6.5% in pending loans - committed and awaiting draw down)
Getting there... In the last 10 days we've: - Approved 3 new loan providers.
- Whilst keeping our approval rate at 1 in 3 (i.e. no loosening of our lending criteria)
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