|
|
Post by savingstream on Oct 22, 2016 15:40:02 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency  Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. |
|
SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Oct 22, 2016 15:54:52 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. I'm not at all fussed about the delay, but the email did say "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)". You'd make your lives simpler if you hedged your bets a little with "this weekend" or "in the next 48 hours". Under-promise and over-deliver, rather than the opposite!
|
|
Jeepers
Member of DD Central
Posts: 818
Likes: 721
|
Post by Jeepers on Oct 22, 2016 16:01:44 GMT
I'm assuming this loan has been in the background pipeline a while and SS have anticipated cash flow issues relating to INPL. They said interest would drop on future loans to build demand on this loan at 12% (as it may be the longest and last) and then tell investors it will be going live on a Saturday, get them selling old parts to have cash on account with no intention of launching the loan on said day.
Basing your decisions on when to launch a loan on what is on TV at the time doesn't fill me with much confidence in professionalism.
|
|
adrianc
Member of DD Central
Posts: 10,019
Likes: 5,147
|
Post by adrianc on Oct 22, 2016 16:03:20 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. I'm not at all fussed about the delay, but the email did say "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)". You'd make your lives simpler if you hedged your bets a little with "this weekend" or "in the next 48 hours". Under-promise and over-deliver, rather than the opposite! TBF, it did also say... "N.B. We reserve the right to cancel or extend this go live date if required."
|
|
|
|
Post by meledor on Oct 22, 2016 16:11:07 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. I'm not at all fussed about the delay, but the email did say "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)". You'd make your lives simpler if you hedged your bets a little with "this weekend" or "in the next 48 hours". Under-promise and over-deliver, rather than the opposite!
Judging by some recent posts some have been hanging around all day waiting for it to go live - not sure why this is the case when we can set pre-funding levels - so on that basis if SS suggested it will go live "in the next 48 hours" they would have been looking at their screens all weekend.  - seems a waste even if a day's interest is at stake.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Oct 22, 2016 16:13:55 GMT
A lot of people on here are just selling older loans to fund it rather then investing new money. Selling loans with a low date left on them.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Oct 22, 2016 16:37:57 GMT
This loan will probably go live tmrw morning. Thanks for letting us know - any particular reason for the delay? There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency I'm not at all fussed about the delay, but the email did say "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)". You'd make your lives simpler if you hedged your bets a little with "this weekend" or "in the next 48 hours". Under-promise and over-deliver, rather than the opposite! TBF, it did also say... "N.B. We reserve the right to cancel or extend this go live date if required." : I don't think the issue is that SS won't be releasing this loan today. They always do say it could be later than they initially thought it would be. The issue -- for me, anyway -- is that, in response to the question asking why the release was delayed, SS said "There is no delay." That suggests to me that they never really intended to release the loan today, and that SS knew the announcement that the "loan will be going live on Saturday" was incorrect at the time they sent the email. And that, IMHO, is very poor form.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Oct 22, 2016 16:45:50 GMT
I'm not at all fussed about the delay, but the email did say "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)". You'd make your lives simpler if you hedged your bets a little with "this weekend" or "in the next 48 hours". Under-promise and over-deliver, rather than the opposite!
Judging by some recent posts some have been hanging around all day waiting for it to go live - not sure why this is the case when we can set pre-funding levels - so on that basis if SS suggested it will go live "in the next 48 hours" they would have been looking at their screens all weekend. - seems a waste even if a day's interest is at stake.
Talking about myself - nothing better to do.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Oct 22, 2016 16:47:07 GMT
I'm assuming this loan has been in the background pipeline a while and SS have anticipated cash flow issues relating to INPL. They said interest would drop on future loans to build demand on this loan at 12% (as it may be the longest and last) and then tell investors it will be going live on a Saturday, get them selling old parts to have cash on account with no intention of launching the loan on said day. Basing your decisions on when to launch a loan on what is on TV at the time doesn't fill me with much confidence in professionalism. The only bit of the above that I'd question is that "this loan has been in the background pipeline a while". The valuation report is dated only yesterday, and the valuer visited the property only on Wednesday, which suggests to me that SS didn't have a lot of advance notice. The borrower might have thought their financing was coming from somewhere else and came to Lendy only after that didn't work out.
|
|
|
|
Post by supernumerary on Oct 22, 2016 17:03:52 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency What's on TV? The Boy Who Cried Wolfwww.youtube.com/watch?v=GUbtbjJaVnI
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Oct 22, 2016 17:09:39 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. Once again, I appreciate you taking time to reply savingstream. To be clear, I'll lose no sleep over a day's interest on a few quid. As others have already said the go-live email said Saturday and draw-down AIUI is Monday. Does that qualify as urgent? I accept that nothing is set in stone. I would much rather everything is in place. Perhaps the word 'delay' has some unintended connotation - it was simply an enquiry, hoping for a straight-forward answer. It was not a dig; not looking for something to moan about nor impling anything was not as it should be ........... Monitoring incoming cashflow obviously doesn't involve banking any deposits ? Oh, yea - what the hell you find on daytime TV on a Saturday to keep you from doing anything is beyond me 
|
|
nick
Member of DD Central
Posts: 1,056
Likes: 825
|
Post by nick on Oct 22, 2016 17:35:51 GMT
Definitely sounds like crying wolf. I generally pre-funded my account in advance of loans being launched, I'm not going to bother in future. Seems a bit short sighted to mess us around like this - it just encourages people to rely on INPL more which is the opposite of what they need (if their intent was to firm up the cash flows pre-launch as they've stated). All disappointing and unnecessary in my view. Hopefully the delay is only a day, but I struggle to see what will have changed over the course of Saturday - unless there has been a rush of deposits late today..........
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Oct 22, 2016 17:51:25 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. In your email you stated "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)."
|
|
markdirac
Member of DD Central
Posts: 128
Likes: 51
|
Post by markdirac on Oct 22, 2016 18:03:32 GMT
There is no delay. We give ' advance notice of going live' not ' 24 hours notice'. Historically and generally we give a minimum of 24 hours notice but this can be extended depending on various circumstances, timings, days of the week, size of the loan, appetite, phase of the moon, whats on TV and urgency Appreciate some investors sell their loan parts and are now technically in cash and losing a day or so of interest, but better for us to be sure cash is flowing and on account. Its a big one, we need to monitor incoming cashflow to deduce appetite, which is looking very strong. There won't be much on the SM when we launch. In your email you stated "We are pleased to confirm that the above loan will be going live on Saturday (22/10/2016)." Not even "We are pleased to inform you..." but rather "We are pleased to confirm...".
|
|
dan83
Posts: 243
Likes: 84
|
Post by dan83 on Oct 22, 2016 18:19:01 GMT
I don't see what the big problem is?
Ok the email did say it was going live today and it hasn't, but they also reserved the right to delay it.
I'm not expert in this kind of thing but I'd guess the loan is delayed for a reason, paper work not completed or something, rather then they just couldn't be bothered and watched the telly instead (at least the member of staff who made the comment had a sense of humour).
As for losing interest, you only get intereston money that is invested, if you decide to sell loans, that isn't anyone else's fault, no one made you sell them loans and no one is making you buy into this one.
You all need to chill out.
|
|
- seems a waste even if a day's interest is at stake. 
