Website & Platform Improvements (LLI)

Thank you, elliottm.

We see the issue and its because people are buying and selling multiple parts but we’re working towards keeping a single investment record per account per loan, in effect merging investments at the point of sale. 

Regards,

Filip

Hi tarq,


I have discussed your question with Joe, our CTO, and he has responded as follows:

We’re aiming to have the merging happening instantly, while the sale is processed. Our preferred outcome is that the buyer’s investment is increased in the same way the seller’s is reduced, maintaining a single investment record for each. Once the work is complete, we will also merge previous investments retrospectively.

I hope that it help.

Regards,

Filip

I think we should simplify the whole space by making minimum purchase of £100 and only multiples of £100.  All 2ndM should be partial sale without option and can only be listed in multiples of £100.

This would tidy up all the transaction logs and with the combination of proposed merging would make everything full of 0000000000s.  There would be a few that have bits and need to hang onto, but this would soon resolve within 6 months - those with tiny parts could maybe have a temporary pot they can combine with other sellers on a first come first served basis and when reaches the magic £100 is will be listed.

I appreciate, as I have an ISA, that you want to maximise you want have every penny invested, but overall anybody with a spread of loans with circa 10k or so would quickly accumulate a whole £100.

(You could also do min £100 with £50 increments and on final loan part min £100 but this would possibly a bit more troublesome to program)

The other thought I had was what is the real point of knowing who sold/bought what on 2ndM?  Most use Anonymous anyhow? Also to take further why do we even care to buy from one to the other - It could just be there is £2500 available in one pot which could be 500 300 200 1000 400 100 different pots for sellers, this would avoid CanaryWharf scenarios.  We could just get one email when pot gets created, and maybe this could show a summary of all the other investment pots. 

Hi n,

I apologise for this and thank you for bringing this to our attention. Joe, our CTO, has responded as follows:

"Apologies for this, we deployed a significant update to the secondary market logic and historic data today and those 29 ‘empty’ items were storing compatibility data for a few recent secondary market sales. They were due to be flagged as hidden but we’d not actioned that yet - it’s done now!

It’s probably worth adding a note to the forum about the purpose of the update. Going forward the secondary market will manage a single investment per loan, per user rather than creating a new loan part for every purchase made on the secondary market. This will keep the My Investments tab cleaner, faster and hopefully offer a better experience. In addition, it will avoid the situation where a user intending to sell down a particular loan has to make multiple small listings, spamming the email update subscribers.

The update has been applied to active loans that can be traded on the secondary market (2 or more interest payments remaining) and will apply to all new loans. Loans with less than 2 interest payments remaining, or already repaid will be merged at a later date."

Please let me know if you come across anything else.

Regards,

Filip

Hi tarq,

I will look into this and revert latest tomorrow if that is fine.

Regards,

Filip