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Post by pepperpot on Jun 26, 2014 13:08:12 GMT
Yes nice idea from an individuals perspective, but I still think a free debit card transfer would be the best option. Anyone looking to deposit more than they can with a card must be going for one of the larger (bridging) loans which are available long enough to use the bacs system.
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shimself
Member of DD Central
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Post by shimself on Jun 26, 2014 15:52:09 GMT
I sent them an email on the same topic a couple of weeks ago. My suggestion was that they did like TC do, which is to have a deposit notification system, so you say to them to expect £nnn, the system automatically credits it so you can bid with it. If you don't come up with the goods they cancel your bid out and give you a yellow card. They said they'd think about it As much as I like the idea, I do believe that it's a process, along with so many others that TC conduct manually, which IMHO is one of the largest downsides of the platform - several days if not a week on occasions to issue repayments; a completely dysfunctional Secondary Market, etc etc... I doubt that other P2x platforms will be looking to take a leaf out of TC's book in that respect. Well yes I nearly aded a sentence on the lines of I hoped they would automate it rather than copy TC's parchment and quill process. I disagree about the TC secondary market, it isn't great but it gets by. I wish other platforms had the quality of propositions and Q&A that TC has.
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mikes1531
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Post by mikes1531 on Jul 10, 2014 21:24:24 GMT
The only complication I foresee is that due the size of this loan, there will quite possibly be funds available for the duration of the term, making liquidating any funds invested into Option A a bit of a gamble. Haven't SS said that loan parts put up for sale by existing lenders are put at the front of the queue to receive any new investments? Which is to say that secondary market parts would be transferred to new investors before any underwritten parts. If that's the case, then having a big backlog of underwriter parts waiting for new investors wouldn't be a hindrance to secondary market sales, so the only thing that would slow secondary sales would be either a flood of secondary sales or a dearth of new investors. If that's the case, then perhaps we should be suggesting that AC do the same. Over there, it's very hard to sell loan parts in the Aftermarket while ££££ of underwriter parts are still available -- and that, no doubt, inhibits some lenders from buying parts in loans that still have significant underwriter holdings.
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star dust
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Post by star dust on Jul 10, 2014 21:42:00 GMT
The only complication I foresee is that due the size of this loan, there will quite possibly be funds available for the duration of the term, making liquidating any funds invested into Option A a bit of a gamble. Haven't SS said that loan parts put up for sale by existing lenders are put at the front of the queue to receive any new investments? Which is to say that secondary market parts would be transferred to new investors before any underwritten parts. If that's the case, then having a big backlog of underwriter parts waiting for new investors wouldn't be a hindrance to secondary market sales, so the only thing that would slow secondary sales would be either a flood of secondary sales or a dearth of new investors. If that's the case, then perhaps we should be suggesting that AC do the same. Over there, it's very hard to sell loan parts in the Aftermarket while ££££ of underwriter parts are still available -- and that, no doubt, inhibits some lenders from buying parts in loans that still have significant underwriter holdings. Unless I've missed something earlier I believe MONEY posted before Saving Stream had publicly confirmed that lenders loan parts are prioritised for sale on the AM. However, I agree with the sentiment that AC should consider this, they could also consider paying interest before drawdown although I believe they are at least trying to speed up the process.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jul 10, 2014 21:52:27 GMT
Haven't SS said that loan parts put up for sale by existing lenders are put at the front of the queue to receive any new investments? Which is to say that secondary market parts would be transferred to new investors before any underwritten parts. If that's the case, then having a big backlog of underwriter parts waiting for new investors wouldn't be a hindrance to secondary market sales, so the only thing that would slow secondary sales would be either a flood of secondary sales or a dearth of new investors. If that's the case, then perhaps we should be suggesting that AC do the same. Over there, it's very hard to sell loan parts in the Aftermarket while ££££ of underwriter parts are still available -- and that, no doubt, inhibits some lenders from buying parts in loans that still have significant underwriter holdings. Unless I've missed something earlier I believe MONEY posted before Saving Stream had publicly confirmed that lenders loan parts are prioritised for sale on the AM. However, I agree with the sentiment that AC should consider this, they could also consider paying interest before drawdown although I believe they are at least trying to speed up the process. Ac would probably forwn on that from a fairness point of view. I totally agree with the the drawdown/payment point made, a reason why directed some funds into SS as you're effectively earning interest at similar rates, but immediately!
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debeast
(o)(o)
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Post by debeast on Aug 12, 2014 7:55:46 GMT
Have i missed something why is PBL5 showing 607,712.24 left to fund again?
Am i being dimmer than usual?
/beastie
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