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Post by chris on Jul 24, 2014 16:48:13 GMT
I'm a confused newbie trying to buy loan units, and trying to find which are discounted. On some loans I enter £100 as purchase price and I get a loan of a lower value being selected, e.g. £98.70. But then if I lower the price further, and say I want to buy £97, it selects a unit for £96.44 (for example). Yet when I look at the unit loans selected in each case, I'm told that the capital outstanding is £98.70 or £96.44, not £100. What am I buying here? £100 for a discount, or a loan part with some of the capital already repaid? And if some of the capital is repaid on some parts, why are there still units for sale at £100 with seemingly no capital repaid (or are these marked up)? Also, the only column relating to discount seems to be the "markup" column, and it doesn't seem to be possible to sort by this column. On a truly discounted loan, would the "markup" show a negative figure? Sorry if this is very basic, but it is confusing, and there are no instructions on the unit purchase page. Any enlightenment gratefully received. (NB, I'm not a P2P or P2B newbie -- I've used ZP, RS, FC and others.) Not all loan units are still worth the original £100. A bit of the principal is repaid each month, so the system is selecting units as best it can to get as close to your target amount as possible whilst biasing its selection to those with the largest discount. This can result in some seemingly odd numbers being selected. When we revamp the platform in a little over a month's time the system will be able to split and combine loan units as it sees fit so it should always be able to let you buy the exact amount you're interested in subject to availability. That said if you think the system isn't working as I've described if you could give me some specific examples then I'll get someone to look into it in more detail.
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Post by Ton ⓉⓞⓃ on Jul 24, 2014 16:54:41 GMT
I'm a confused newbie trying to buy loan units, and trying to find which are discounted. On some loans I enter £100 as purchase price and I get a loan of a lower value being selected, e.g. £98.70. But then if I lower the price further, and say I want to buy £97, it selects a unit for £96.44 (for example). Yet when I look at the unit loans selected in each case, I'm told that the capital outstanding is £98.70 or £96.44, not £100. What am I buying here? £100 for a discount, or a loan part with some of the capital already repaid? And if some of the capital is repaid on some parts, why are there still units for sale at £100 with seemingly no capital repaid (or are these marked up)? Also, the only column relating to discount seems to be the "markup" column, and it doesn't seem to be possible to sort by this column. On a truly discounted loan, would the "markup" show a negative figure? Sorry if this is very basic, but it is confusing, and there are no instructions on the unit purchase page. Any enlightenment gratefully received. (NB, I'm not a P2P or P2B newbie -- I've used ZP, RS, FC and others.) Hi and welcome to AC & this board. AC doesn't allow mark UPs only mark downs As a quick answer, when I checked yesterday the only units with a markdown were on North Lothian W.T. Yes those one might be units less than £100. At the moment they can be any size between £100 and £20, but this may change soon. But most units are £100's, 20's perhaps 50's etc. The system is due an update so whatever is said here might be out of date very soon, perhaps Monday, tho' we're not told when it's happening. But with Andrew Holgate going on hols maybe not, though I'm sure he fully trusts his excellent team. I've got a piccy somewhere I'll just find that and stick it up as it may help. IN EDIT Cross post with chris the lead i.t. guy at AC. Also You can't sort by discount, but you can suggest it if you want (seriuosly) Here's my piccy:  The last four in the list are at a discount compare this piccy to other units and you'll see the difference, just post again geoffrey if it's not clear and someone will eventually answer it.
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Post by oldnick on Jul 24, 2014 17:22:55 GMT
When chris wrote : " When we revamp the platform in a little over a month's time the system will be able to split and combine loan units as it sees fit so it should always be able to let you buy the exact amount you're interested in subject to availability." I had intimations of mortality. It won't be called The Terminator will it? |
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Post by Ton ⓉⓞⓃ on Jul 24, 2014 17:31:09 GMT
When chris wrote : " When we revamp the platform in a little over a month's time the system will be able to split and combine loan units as it sees fit so it should always be able to let you buy the exact amount you're interested in subject to availability." I had intimations of mortality. It won't be called The Terminator will it? No, but I heard that a guy called Terminator works with the collection team if that helps?
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Post by chris on Jul 24, 2014 17:31:26 GMT
When chris wrote : " When we revamp the platform in a little over a month's time the system will be able to split and combine loan units as it sees fit so it should always be able to let you buy the exact amount you're interested in subject to availability." I had intimations of mortality. It won't be called The Terminator will it? I'm now seriously considering renaming the daemon that powers AI to Skynet. Or maybe HAL.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 24, 2014 22:15:34 GMT
When we revamp the platform in a little over a month's time ... Does chris's comment mean that the release date for the revamp has been set for the end of August?
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Post by geoffrey on Jul 25, 2014 5:01:52 GMT
AC doesn't allow mark UPs only mark downs As a quick answer, when I checked yesterday the only units with a markdown were on North Lothian W.T. Yes those one might be units less than £100. At the moment they can be any size between £100 and £20, but this may change soon. But most units are £100's, 20's perhaps 50's etc. SNIP Thank you, Ton, for a very clear and helpful explanation.
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Post by chris on Jul 25, 2014 5:42:31 GMT
When we revamp the platform in a little over a month's time ... Does chris's comment mean that the release date for the revamp has been set for the end of August? Not sure what I can announce yet as plans are still being finalised but it will be after the school holidays and will be announced shortly as we'll be running a couple of events that we'd like as many of you to attend as possible.
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bernard
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Post by bernard on Aug 22, 2014 10:01:46 GMT
Given units being are occasionally offered at a discount, will it be possible to provide AI with a bid (discount) limit for buying additional exposure? Currently am I right in thinking that although the AI will buy the cheapest (largest discount) units, you cannot set a price tolerance for one's appetite? Example usage ... Í would like autoinvest to accumulate exposure to a loan if units are offered at a discount of Y% or greater, where Y is set by the user in the autobid preferences for that loan?
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Post by chris on Aug 22, 2014 10:46:50 GMT
Given units being are occasionally offered at a discount, will it be possible to provide AI with a bid (discount) limit for buying additional exposure? Currently am I right in thinking that although the AI will buy the cheapest (largest discount) units, you cannot set a price tolerance for one's appetite? Example usage ... Í would like autoinvest to accumulate exposure to a loan if units are offered at a discount of Y% or greater, where Y is set by the user in the autobid preferences for that loan? This facility is on its way
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pikestaff
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Post by pikestaff on Oct 22, 2014 7:25:20 GMT
Marking down is not currently possible on the new site, but Chris said yesterday that it would be back soon.
I don't know what's happened with existing mark-down offers (if any).
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agent69
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Post by agent69 on Dec 14, 2014 9:40:41 GMT
Marking down is not currently possible on the new site, but Chris said yesterday that it would be back soon. Anyone know when this feature is likely to re-appear?
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Post by Ton ⓉⓞⓃ on Dec 14, 2014 9:45:41 GMT
Marking down is not currently possible on the new site, but Chris said yesterday that it would be back soon. Anyone know when this feature is likely to re-appear? Jan's the plan As an aside, there of course remains no way of listing at a discount to reflect the true value of these loans if at some point it should become obvious that there is a low probability of recovering all capital, accrued interest, AC+introducer fees and costs. This facility is being designed and specified and will be built and released in January.
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agent69
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Post by agent69 on Dec 14, 2014 10:30:03 GMT
Thanks
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