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Post by spareafewcoppersguv on Mar 17, 2017 14:24:57 GMT
Not 4pm MT own that Nor 11am FS own that If 10am is difficult what about 2:27pm no one owns that. I would vote to leave it as it is! And a £25 min bid level.
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hantsowl
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Post by hantsowl on Mar 17, 2017 14:38:04 GMT
Not 4pm MT own that Nor 11am FS own that If 10am is difficult what about 2:27pm no one owns that. I would vote to leave it as it is! And a £25 min bid level. I would also.
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oldtimer
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Post by oldtimer on Mar 17, 2017 14:39:08 GMT
I would vote to leave it as it is! And a £25 min bid level. I would also. me too
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hantsowl
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Post by hantsowl on Mar 17, 2017 14:40:58 GMT
Not 4pm MT own that Nor 11am FS own that If 10am is difficult what about 2:27pm no one owns that. Same applies to midnight or 1am. That would probably guarantee availability hanging around for 9-10 hours even with small loans 😊
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archie
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Post by archie on Mar 17, 2017 14:54:16 GMT
Not 4pm MT own that Nor 11am FS own that If 10am is difficult what about 2:27pm no one owns that. That would be 2.30pm using a watch borrowed from FS then.
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Post by richardthe4th on Mar 17, 2017 15:16:48 GMT
Wasn't all of the debate about 'pre-fund not working' kicked off because a relatively small (£2k) loan filled up. Hardly unexpected as people have said.
Maybe we should have another topic 'refund is working' for the majority of the other loans (all except the watch, if I recall correctly) and look at the half-full side of the glass?
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markr
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Post by markr on Mar 17, 2017 17:17:15 GMT
I'd be happy with the prefund limit being as low as needed to (reasonably) ensure everyone who wants some can have a bit, even if it's a fiver, a quid, or less. If you can't be bothered with such small change, well fine, move on and wait for the bigger fish to come along.
Alternatively, why not operate small loans as a raffle. Put loan details up a day or so before, anyone who is interested ticks a box, then at a pre-determined time investors are chosen at random for a £25 part (provided they have funds to cover it). This could also be used for the tiddly bits of renewals as well.
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n
Member of DD Central
Yet another Nick
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Post by n on Mar 17, 2017 18:22:16 GMT
I'd be happy with the prefund limit being as low as needed to (reasonably) ensure everyone who wants some can have a bit, even if it's a fiver, a quid, or less. If you can't be bothered with such small change, well fine, move on and wait for the bigger fish to come along. Alternatively, why not operate small loans as a raffle. Put loan details up a day or so before, anyone who is interested ticks a box, then at a pre-determined time investors are chosen at random for a £25 part (provided they have funds to cover it). This could also be used for the tiddly bits of renewals as well. Can I write the random number generator please?
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mason
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Post by mason on Mar 17, 2017 18:54:41 GMT
I believe there should be a reasonable amount of notice so that those who get the email later than others are not unfairly disadvantaged. If the purpose of pre-funding is to allow people who cannot make the usual 10am slot to get a bite of the loan, then clearly a prefund that does not last any longer than a normal go-live serves no purpose. Having loans appear in the pipeline for immediate funding, and with time pressure to act immediately, gives potential investors no time to evaluate the investment opportunity. I think 25 is a reasonable minimum as with FS pawn so whatever time it appears only 100 FFF investors can get into a 2.5k loan and with anonymous borrowers only cursory DD would be required to check a watch or car retail price for that amount. Perhaps you you should ask Gordon to have a minimum time after email/before putting new loans on the website so everyone had a fair chance to get their 1.50 interest. Am I to take it from that last sentence that you won't be bothering with any loans that have a measly £25 bid limit? If only there were more like you, we wouldn't be in this situation. To me, excluding the smallest loans from pre-funding makes the most sense. I wouldn't ever suggest these loans should not be brought to the platform. I'm assuming that the loans going live at 10am are known and information prepared by the end of the previous day, but maybe I'm wrong on that. Edit: Just to add that in the majority of cases, pre-funding has worked really well.
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investibod
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Post by investibod on Mar 17, 2017 21:47:23 GMT
I would be sorry to see the smaller loans disappear altogether. I can understand that the big property loans produce a larger return for Col compared to the amount of effort they need to expend, but I use the platform to diversify out of property. It Col becomes just another property site, it will lose the USP for me.
I do not really care if pre-funding is used for smaller loans or not, it just means the the FFF is pushed to a day earlier. As interest is not accrued until go-live, we are probably better as investors if it is not used.
Regarding bid limits, I am not too proud to go for small amounts. If other people are not interested in the scraps, it is more left for those of us who are interested. I can see that it would potentially put more load on the system to have a lot of very small bids, so I can see the logic of not going too small. My personal feeling would be that £10-£20 would be about the absolute minimum, but Gordon would be in a better position to decide.
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markr
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Post by markr on Mar 18, 2017 15:08:51 GMT
Can I write the random number generator please? They could just borrow Funding Circle's Risk Band Allocation Tool, it's more or less the same thing.
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guff
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Post by guff on Mar 20, 2017 11:00:40 GMT
Back to the original topic… I've just looked at my account and something has gone seriously wrong: On 16th March, my wife transferred £210 and successfully prefunded BB00472, 473, 475 & 476. On 16th March, I transferred £210 and prefunded BB00472, 473, 475 & 476 but the loans are not showing up and I have a £210 balance. I have checked our e-mail confirmations from the 16th March and we both have one for 472, plus one for a loan on the 10th March and one for a loan on the 8th March. I am rather unimpressed and concerned Collateral Rep .
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Post by Collateral Rep on Mar 20, 2017 11:25:11 GMT
Hi guff, Thanks for your email to confirm your account, as posting on here is difficult to help as we don't know who forum members are. However after checking the email you forwarded (4 Round Brilliant Cut Diamond Rings BB00455), that is not the same loan as BB00472 (two 18ct Gold Diamond Rings). We did have a glitch with emails last week where it sent some older emails out, which maybe what's happened with this notice. We've checked the logs and can see the deposit on the 16th, but that is the last activity on your account which would appear that you didn't process the transactions. If you have any other confirmation emails you can send we can look into this further. Many thanks, Gordon
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guff
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Post by guff on Mar 20, 2017 11:43:04 GMT
Apologies Collateral Rep, you are right about BB00455 which we both purchased on 8th March. However, Mrs. Guff and I made the same £210 transfer and prefunds at similar times, neither of us have received e-mail confirmations but she has prefunded correctly but I haven't. I can't send you a confirmation e-mail as neither of us have received one.
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Post by Collateral Rep on Mar 20, 2017 11:48:15 GMT
Hi guff, I've asked the developer to look again. Did you get a confirmation window when you bought the loan parts and did you select the confirm or press return on your keyboard? Many thanks, Gordon
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