Launch of post-term bonuses and cashback on new tranches

My question is more about how sales queues will be amalgamated, if for instance someone puts parts up for sale now from the cash back tranche and it does not sell, although it is highly unlikely unless something occurs which makes the loan a lot less attractive, where would it fall in the sales queue when the two separate loan listings are amalgamated at the end of the month.

Paul,

I acknowledge that this is a pilot. However, to engage fully the participants need to fully understand the extant rules and regulations - because we aren't playing this game with monopoly money - it's real cash - our real cash.

On this forum are some of the most astute and experienced individuals around with regard to P2P and the various platforms (and I'm not amongst them) - and many are clearly struggling to grasp the detail and nuances of this pilot.

From a relative laymen perspective (although even I have been in P2P for a number of years on several platforms) it's looking increasingly like a bit of a shambles. Having said that, I have now dipped my toe into one low LTV overdue loan (PBL047) to see how this plays out and I have to admit that without the 2% attached bonus I wouldn't have done so previously. Hence I suggest it will likely impact the SM - but exactly how remains shrouded in mist to me?

So - I'm not saying that we don't need some changes, just that those changes need to be thoroughly thought through before a live launch (and you will have a hell of a job persuading me this has) - even if it is a pilot. Furthermore, a cynic (heaven forbid - qui moi !!) might suggest that labelling it a 'pilot' is a rather brazen attempt to justify an apparent lack of serious joined-up thinking and clarity?

I do want this all to work out - for both the platform and lender's sakes - but my perception is that it's currently being 'cobbled together on the hoof'- whether this is the reality or not!? 

It may be a pilot (but funnily this has only been suggested since many questions were raised) but the system must be currently coded to do something specific in each of the scenarios raised above. All we want is to know what.

I do hope our honourable lady moderator doesn't misconstrue this erudite clarification. Thank you Skippers!

Having spent 42 years in computing, initially in mainframe hardware systems design and development, I have thought the same myself.  On past numerous occasions I have seen little more than bullet pointed wish lists handed down from on high with an expectation that obscure, possibly illogical requirements could be magically spun into what the requesters might one day realise they had wanted.  Having believed they may have joined the dots, the implementers' problems are further compounded by being required to integrate the ensuing nonsense into existing systems that have been developed over time using the same doomed approach. I love retirement.

fp's question is reasonable, and deserves a reply.  OTOH, I was thinking that the likelihood of the situation actually happening may be slim.  If Lendy developers had similar thoughts, they might not have given much consideration to providing a solution.  It might have been totally ignored as a possibility when the programming was done, so could cause a system problem if it actually does occur.

ISTM that there are a t least a couple of simple ways of dealing with the situation...

• Order the parts based on the date they were offered for sale; or
• Dump the cashback parts at the end of the main queue.

Meanwhile, it will be interesting to see whether there are are any cashback parts for sale at the end of the day on 31/Jul.  At the rate the DFL024 cashback parts aren't being snapped up, there well may be!

I sure hope not!  That would add even more complexity to this already complex platform.

But Lendy have even more glaring errors to sort out first.  The two cashback loans still are showing to be classified as SBL, with -2 days remaining!