littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Aug 11, 2017 17:09:53 GMT
Thursday: received email: The Henley in Arden loan is expected to go In Funding tomorrow..., if you are interested in investing into this loan please make sure you have funded your Proplend account in good time. So transferred money.
Friday: received confirmation of deposit, but no loan so money not earning over weekend.
Cash drag like this is very irritating.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Aug 13, 2017 18:08:03 GMT
Dont worry.. You would have incurred cash drag anyhow as the loan would have only been in the funding stage.. Interest is only earned once the loan is drawn down. So nothing lost!
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Aug 13, 2017 19:43:00 GMT
So even more drag than I thought? What a drag indeed!
|
|
|
Post by proplend on Aug 14, 2017 12:41:41 GMT
Thursday: received email: The Henley in Arden loan is expected to go In Funding tomorrow..., if you are interested in investing into this loan please make sure you have funded your Proplend account in good time. So transferred money. Friday: received confirmation of deposit, but no loan so money not earning over weekend. Cash drag like this is very irritating. Good afternoon littleoldlady We try to give Lenders notice in advance of a loan going In Funding to give them the opportunity to invest if they want to. We understand that not everyone keeps cash on deposit and feedback from our Lenders has suggested the notice we provide, even if just a day, is greatly appreciated. We can only state our expectation of when a loan will go In Funding as we're reliant on other parties and sometimes things get delayed. We're still working to get this loan In Funding and we don't anticipate a lengthy funding period prior to drawdown for this loan. We will email Lenders later today with an update. Regards, Richard
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
|
Post by littleoldlady on Aug 15, 2017 11:32:10 GMT
And then when it did appear I was too late (30 mins after launch) to get any, so more cash drag.
|
|
|
Post by masquedefer on Aug 15, 2017 16:26:41 GMT
Posted by littleoldlady And then when it did appear I was too late (30 mins after launch) to get any, so more cash drag.
I found the same loan was fully funded @ about 25 minutes after going live. Obviously a popular loan. We can't blame Proplend for us slow borowers failing to log in as quick as everyone else! Trouble is my cash is with Proplend in an IF ISA (which is not very mobile). So I must be faster next time.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Aug 16, 2017 6:01:50 GMT
"With a flexible ISA you can take money out of your Proplend IFISA and put it back in before the end of the same tax year without it counting as a new ISA subscription"
On a separate note, if loan sold out in 25 minutes how did anyone do any DD? Last few loans have been too shakey for me to invest in.
Poor borrowers, 100% loan to purchase price etc
|
|