guff
Posts: 730 
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Post by guff on Jul 14, 2017 9:25:48 GMT
If investors can't understand how it works, this new 'incentive' is going to have minimal effect on their behaviour. This investor has been positively disincentivised by this buggers muddle.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 14, 2017 12:30:45 GMT
The special live loan 'cash back tranche 2' has just gone to -1 days and from IOA to SBL.
Good work Lendy.
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ganymede
Member of DD Central
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Post by ganymede on Jul 14, 2017 12:52:32 GMT
The special live loan 'cash back tranche 2' has just gone to -1 days and from IOA to SBL.
Good work Lendy. The asset for DFL019 and DFL024 are also appearing twice in tables, increasing the loan book total assets and reducing the overall LVT for live loans.
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Post by Paul64 on Jul 14, 2017 15:30:38 GMT
Hi all, the cash back is actually very straightforward. It is a one off payment of 1/12th of the annual interest. I.e. a 12% loan will get a one off 1% cash back and it will be paid with the normal interest run for those holding the loan parts at that time. Paul
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Post by GSV3MIaC on Jul 14, 2017 15:41:14 GMT
for clarity sake we can assume 'at that time' means 'at the first monthly interest run date after the loan goes live'.
('the normal interest run' is a monthly occurrence, not a singular event).
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Post by Paul64 on Jul 14, 2017 15:56:20 GMT
Indeed. It is a one off.
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mikes1531
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Post by mikes1531 on Jul 14, 2017 22:31:15 GMT
Hi all, the cash back is actually very straightforward. It is a one off payment of 1/12th of the annual interest. I.e. a 12% loan will get a one off 1% cash back and it will be paid with the normal interest run for those holding the loan parts at that time. Paul : Does that include investors who have cashback-qualifying parts up for sale at the time the first interest payment is made?
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mosaic
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Post by mosaic on Jul 15, 2017 9:52:06 GMT
Hi all, the cash back is actually very straightforward. It is a one off payment of 1/12th of the annual interest. I.e. a 12% loan will get a one off 1% cash back and it will be paid with the normal interest run for those holding the loan parts at that time. It might be clearer if you gave an example. The way I read what you mean, is that the cashback will be 0.083% of your holding in a 12% loan. This will be paid once at month end if you are holding the loan at that time. There will be no further cash back payments. In line with the other P2P providers you should advertise the cashback as a 0.083% cashback offer, instead of this smoking mirror approach. This will save the FCA from requiring you to change it later.Edit. I was clearly confused by absolutely everything when I made the original post!
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star dust
Member of DD Central
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Post by star dust on Jul 15, 2017 10:07:04 GMT
I think in the case of a 12% loan it will be 1/12th of 12% i.e 1% (of your cash-back loan part) paid at month end; for a 9% loan it would be 1/12th of 9% i.e. 0.75% (of your cash-back loan part holding) at the end of the month (or strictly speaking I guess the 1st day of the next month, back-dated to the last day of the preceding month). Nothing thereafter. That's what I'm expecting, but maybe I'm wildly out  , and I'll have no way of testing the 9% one anyway  . |
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mikes1531
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Post by mikes1531 on Jul 20, 2017 21:11:37 GMT
I received a go-live notice for Tranche 3 of this loan today, and it looks like it's being released without the cashback offer.
It will be interesting to see if it's fully funded when it goes live. With nearly £200k of non-cashback parts of this loan on the SM, I'd be surprised if there's enough appetite for another £380k of those, but I suppose it all depends on what levels of pre-funding investors have set.
I wonder how many people thought that, since T2 came with cashback, further tranches would as well and will be surprised when they're allocated parts that don't come with cashback.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 21, 2017 11:48:49 GMT
I guess they couldn't fill it.
Should've offered cash back again!
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gustapher
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Post by gustapher on Aug 1, 2017 13:04:46 GMT
Quick note to say my cashback loan parts on this turned into normal loan parts for the loan once the cashback was paid - perfect!  |
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ped
Member of DD Central
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Post by ped on Aug 1, 2017 18:05:56 GMT
same here nice little 1% cash back bonus, makes me think, I might just do that again!
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twoheads
Member of DD Central
Programming
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Post by twoheads on Aug 7, 2017 11:39:33 GMT
Tranche 4 now live. Allocation was £2450. £310 appeared briefly on the SM but was snapped up by FFF.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Aug 23, 2017 12:11:29 GMT
Photo in the email for Tranche 7 shows questionable progress. Not sure that's worth £8.6m to date. Makes DFL001 look good.
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, and I'll have no way of testing the 9% one anyway 
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