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Post by MoneyThing on Dec 19, 2018 20:59:20 GMT
Afternoon, With 89.21% filled at the 24hr mark, well done to star dust , marka , funkymonkey , p2pmark & valuehunter for being the five closest. Feel free to PM / email me at ed@ to claim your chocolate. Kind regards, Ed Chocolate on its way to all apart from valuehunter ... let me know if you would still like some chocolate... Thanks all for participating in a bit of fun. Ed.
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Post by MoneyThing on Dec 19, 2018 13:46:44 GMT
Afternoon, With 89.21% filled at the 24hr mark, well done to star dust , marka , funkymonkey , p2pmark & valuehunter for being the five closest. Feel free to PM / email me at ed@ to claim your chocolate. Kind regards, Ed
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Post by MoneyThing on Dec 18, 2018 11:26:53 GMT
I'm not allowed to eat chocolate. Mince pies or something else?
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Post by MoneyThing on Dec 17, 2018 15:29:26 GMT
Great (well not the fact the loan might not appear, thereby bypassing my sure fire chocolate win. 8>.) .. setting the 24 hour limit at 50% of what you expected (£400 for the lambo for instance) would, as Steve says, still sell it out not long after the 24 hours is up, assuming most people would bother to show up for a second bite (gets more people looking at the site more often too .. maybe they'd even buy some of the other loans while they were there). I'd be quite happy with two bites at £400 (assuming there is any left for desserts), rather than one of £800 .. save me selling out £800 of something only to discover I couldn't get that much reinvested. Morning GSV3MIaC, We are looking to announce a new car loan today with this borrower and wondered if you would like a chance to win some chocolate? Loan Amount: £115,500 (70% LTV) on a 2018 Mercedes G63. Would look to do £X amount per 24hrs for 48hrs with a view of achieving >80% to <100% filled by the 24th hr. (£x has to be the same amount for each 24hr). If you are happy to set the limit, I will then ask others if they would like to predict what percentage the loan is filled at the 24hr mark with the closest three earning a choccy bar. Kind regards, Ed Sorry to miss you GSV3MIaC - I have had to set the limit on this occasion. .... Having set the bid limit to £208 (per 24hrs), further to the above, if anyone would like to win a chocolate bar, please put your predictions forward before midday tomorrow and the closest five are a winner! (the bold bit) Kind regards, Ed
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Post by MoneyThing on Dec 17, 2018 10:53:07 GMT
Great (well not the fact the loan might not appear, thereby bypassing my sure fire chocolate win. 8>.) .. setting the 24 hour limit at 50% of what you expected (£400 for the lambo for instance) would, as Steve says, still sell it out not long after the 24 hours is up, assuming most people would bother to show up for a second bite (gets more people looking at the site more often too .. maybe they'd even buy some of the other loans while they were there). I'd be quite happy with two bites at £400 (assuming there is any left for desserts), rather than one of £800 .. save me selling out £800 of something only to discover I couldn't get that much reinvested. Morning GSV3MIaC, We are looking to announce a new car loan today with this borrower and wondered if you would like a chance to win some chocolate? Loan Amount: £115,500 (70% LTV) on a 2018 Mercedes G63.
Would look to do £X amount per 24hrs for 48hrs with a view of achieving >80% to <100% filled by the 24th hr. (£x has to be the same amount for each 24hr).
If you are happy to set the limit, I will then ask others if they would like to predict what percentage the loan is filled at the 24hr mark with the closest three earning a choccy bar.
Kind regards,
Ed
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Post by MoneyThing on Nov 30, 2018 13:39:47 GMT
MoneyThing - does today's update with proposed changes to the layouts imply that an amendment to the planning application will have to be obtained given the changes to the elevations ? Afternoon mrclondon. These proposed changes are being submitted as "non-material amendments" and are therefore expected to get determined within the month. Regards, Ed
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Post by MoneyThing on Nov 22, 2018 8:59:58 GMT
Morning,
I will look to set a lower £X bid limit per 24hr period for these loans going forwards. (At the moment in the system, X has to be the same amount for each 24hr).
The Aventador is being delivered today, however they already have a customer interested in it who is going to see it on Saturday. If they don't buy it, it will be launched early next week.
Regards,
Ed
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Post by MoneyThing on Nov 21, 2018 19:41:25 GMT
Ooo, fame (and lots of hate mail) .. I'd probably say something like £400, but if you (still) have the two-bites-limit code then something like £300 for 24 hours and then £400 for the next 24? Some lenders are going to have had their fill of this borrower, eventually, but maybe not quite yet.
At least the website didn't lock up and die, but it must have been pretty hectic for the first few minutes.
Final answer...ask a friend/audience? (Whilst we do have the code for bid limit per 24hr period, I would rather it was filled at just after 24hrs to give the borrower certainty when we can send over the funds.)
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Post by MoneyThing on Nov 21, 2018 19:31:01 GMT
Fair enough... bid limit set a little too high in this instance. GSV3MIaC - what would you suggest by way of a bid limit for the next loan (£135k Aventador), with a 24hr limit? Regards, Ed In Edit - big choccy bar if you can get it to a position where the loan is between 90% and <100% filled at 23:59 hrs from launch.
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Post by MoneyThing on Nov 20, 2018 20:00:21 GMT
MoneyThing I've had a quick look at the appropriate valuation for the car in question, and am not sure how the £280k was arrived at. Both www.parkers.co.uk/lamborghini/urus/suv-2018/specs/ and www.autotrader.co.uk/content/car-reviews/lamborghini-urus-review-suv-2018 suggest that the retail price is £160k , and so second-hand price should be lower (even putting aside differences between retail and trade prices_. I appreciate the car in question may have more bells and whistles but it's hard to see how this could double the value. (Mods, I assume these links are OK, as I'm not identifying the specific asset in question - only the brand.) Grateful if this could be clarified. (I'm not really used to looking up car values, so very likely I've got the wrong end of the stick - apologies if so.) Evening p2pmark, Two aspects of this, firstly being the spec of the car & the second being the availability (or lack thereof). Whilst this car does have a base price of £160k, this is the starting point for this manufacturer. For example, we understand that the manufacturer then charge £3,000 for delivery, £2,000 tax and the cars have a compulsory tracker fitted for £1,100. The spec is then the important bit to attract buyers and on this model, things like Bang & Olufsen speakers (£5,250), heads-up-display (£5,250), 23” alloys (£4,200), etc., add a considerable amount to the base price. (If you add all the options it would take it up to c. £300k). With regards to availability, we called the manufacturer and they said early 2020 for delivery of a new car if ordered now. As you might appreciate, the people who have the money to buy these cars are quite prepared to pay a premium to jump an 18m queue. As SteveT mentions, the loan amount is < 90% of the price paid for the car by the borrower. Kind regards, Ed
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Post by MoneyThing on Nov 20, 2018 19:37:19 GMT
Not sure how the £800 bid limit was arrived at either - that only allows ~200 lenders to get their full whack, and I thought even in these difficult times there would be more interest than that. MoneyThing - what was wrong with a lower limit for 24 hours, and then a higher one thereafter?? Evening GSV3MIaC, You might be right ... I was thinking that I used a 0.3% ratio for the bid limit for the £105k (rounded to nearest £50), car which was filled after 6.5hrs. Since this loan is nearly twice the size of any previous loan with this borrower and there is also another £100k+ car coming shortly, I thought a ratio of 0.4% in this instance felt right. If I am proved wrong, I will adjust accordingly for the upcoming Aventador. Kind regards, Ed
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Post by MoneyThing on Nov 9, 2018 20:01:19 GMT
MoneyThing , when this loan is finally refinanced & the capital & accrued interest paid, will the borrower have to pay a penalty rate of interest on the overdue repayments - to reflect that no interest payments have been made since April, please? Evening. Additional update has been added to the platform. Regards, Ed.
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Post by MoneyThing on Nov 9, 2018 11:03:32 GMT
MoneyThing I don't think the results are that conclusive. There is a lot of mixed opinion on this and the last time you even stated this as a reason not to bring in any changes. However, if you intend to go ahead with these changes than what happens to the existing queue at the point of introduction of discounts? Morning keystone. With regards to your latter point, when the new system is implemented, those that wish to continue to sell at par will remain in the queue with other 'at par' sellers in the order & amount at the time of launch. Kind regards, Ed.
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Post by MoneyThing on Nov 9, 2018 9:58:22 GMT
Morning,
Thanks to all who have contributed to this thread. The results of the survey are ready and have been emailed to lenders. The results reflect the results on this poll, with about 65% of lenders in favour of change. We’ve read all the comments posted here and we will try and incorporate the feedback in the design.
I have asked Shuang to start development and we will be releasing discounts only to start with, adding premium functionality as a stage two. If all goes to plan, we should be ready to release the new system in the New Year.
Kind regards,
Ed
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Post by MoneyThing on Nov 6, 2018 15:12:17 GMT
Afternoon. Update added to platform. Regards, Ed.
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