david42
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Post by david42 on May 21, 2016 15:50:59 GMT
It sounds like the site had a glitch this morning.
I sold two parts to myself at 11:40am today and did not receive the value for 30 minutes. The parts were listedly as part sold but there was nothing available to buy on the secondary market.
I had this problem once before when I sold a loan part on 1st April and did not receive the value until the next day.
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david42
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Post by david42 on May 9, 2016 16:39:42 GMT
I confirm that Google Captcha is still working for me on Firefox version 43.0.1.
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david42
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Post by david42 on May 4, 2016 20:33:09 GMT
Evening, The Pipeline update is being postponed until tomorrow (Thursday), this week. There are a few things due to be firmed up tomorrow and therefore we have decided to delay this week's update by a day. Kind regards, Ed Thanks for explaining. You don't only treat us to a regular weekly update on the pipeline, you even explain when you plan to be a day late with that update. Other platforms could learn a lot about effective communication from you.
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david42
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Post by david42 on May 2, 2016 23:21:40 GMT
As well as Santander 123, you can open up to three Bank of Scotland Vantage accounts which pay 3% on balances of £3,000 to £5,000. You need to pay in at least £1,000 per month to each account. www.bankofscotland.co.uk/bankaccounts/vantage/
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david42
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Post by david42 on May 1, 2016 13:54:19 GMT
Some organisations, banks, building societies, investment funds etc automatically report certain information to HMRC, whether this extends to P2P lending platforms I don't know. At least two platforms have been asked for data from HMRC, Zopa first mentioning it some years ago, one that was asked about it recently provided amounts and names etc. to HMRC. Ablrate recently said HMRC had asked for details of interest payments from borrowers broken down by lender: p2pindependentforum.com/post/108246/thread
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david42
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Post by david42 on Apr 29, 2016 22:10:06 GMT
The 7 day constraint will make my account more difficult to manage and encourage me to move a little more money to competing platforms as opportunities arise.
48% of the loan parts I have sold in the last 4 months were less than 7 days old. Why so many trades? 1) Maintenance: Half of these trades were selling and rebuying my own loan parts to amalgamate loan parts and keep the list manageable. This could be better fixed by improved software, but in the mean time I find it necessary. 2) Diversity: spreading my investment between more loans to spread the risk. I still have 25% of my SS investment in just two loans while I try to grab whatever else comes up on the SM. So I get lots of practice spotting fuzzy pictures of American sandwiches and recreational vehicles. 3) Liquidity: I use SS for some of my short term funds as well as long term funds. Currently a strong competitive advantage of SS.
It is a shame that Saving Stream have chosen this solution to address abuse of the useful INPL facility. Withholding interest until investments are funded would have been a more accurately targeted solution.
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david42
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Post by david42 on Apr 26, 2016 10:08:32 GMT
I think Saving Stream treat new accounts cautiously. A friend that I introduced had a similar problem when he first opened his account and made a large purchase intending to fund within 48 hours. This was the reply from Saving Stream when he queried why they had reversed the transaction and locked his account:
Hi **,
Many thanks for your email. I can confirm receipt of the £**, this will be reconciled tomorrow am. Apologies for the reversing of your initial investment. We do see large investments from non genuine new investors from time to time, so have to guard against this. As you now have legitimate funds on account, this won't happen again. Welcome to Saving Stream.
Kind regards,
Customer Services Team Saving Stream
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david42
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Post by david42 on Apr 2, 2016 22:12:09 GMT
I think the change to statement entries after 26 March 2016 is that "monthly repayment" entries have been replaced by two entries: "capital repayment" and "interest payment". I seem to remember someone asked for the statement to split these two items. It is part of the batch of enhancements Ed described here: p2pindependentforum.com/post/103387/thread
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david42
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Post by david42 on Mar 18, 2016 23:48:18 GMT
So far it seems to be as useful as a chocolate teapot in relation to the Les Miserables loan! As soon as she got into difficulties, it sounds like the policy lapsed (whether by breach of terms or non-payment of premiums is unclear) rebsrep Rebs are so close to making Personal Guarantee Insurance a valuable security for lenders. Cases of the policy lapsing just when needed cause lenders to discount its value. Rebs are already taking assignment of the policy. If they could also guarantee that the premiums were being paid, then we would overcome the risk of the policy lapsing just when needed. Rebs could do this without making borrowers pay all the premiums up front by requiring that the premiums are paid via Rebs. Rebs could then immediately step in to cover any missed premium payment. The maximum cost to Rebs would be a few month's worth of premium payments in the event of the borrower defaulting - offset by the reduced recovery effort because Rebs would be able to call on the insurance.
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david42
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Post by david42 on Mar 18, 2016 14:46:13 GMT
I quote some useful comments from Kylie (a representative of Rebuilding Society). They were originally on an internal forum about a specific loan M***** K*** W***, but Kylie asked that discussions on such topics be held on this more open forum.
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david42
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MoneyThing (MT) in Administration
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Feb 22, 2016 23:55:39 GMT
Post by david42 on Feb 22, 2016 23:55:39 GMT
A thought. Having picked up a number of small parts on the SM this morning in several loans that I was looking to add to, it would be very helpful to have a "Combine" capability that effectively sells the multiple parts we hold in a loan back to ourself as a single new part (obviously it would have a new "Purchase" date). This would allow us to tidy up our "My Loans" holdings when they start getting messy. There could be a tick-box column on the "My Loans" page, where we tick parts we want to combine and then click "Combine" at the top (with an error message if we accidentally click on different loans). Or, even neater, there could be an extra "Combine Parts" button in the "Sell" pop-up box that combines all the parts we hold in that loan into a single new part. I would love to be able to save the clutter caused by multiple loan parts. Even better, to save adding an extra function for beginners to learn, how about making the system automatically amalgamate a new loan part with any existing part as soon as it is purchased?
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david42
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MoneyThing (MT) in Administration
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Feb 19, 2016 18:48:01 GMT
Post by david42 on Feb 19, 2016 18:48:01 GMT
MoneyThing : With the increasing number of repeat borrowers, in some instances I - and I'm sure others - find it difficult to keep track of exposure to single borrower. Aware this is a topic raised before. This is particularly important where the borrower identity is in effect obscured by not having it 'coded in' to the loan id. Understand that you have now listed related loans on each loan listing, but that of itself is quite tedious to check against. What would be extremely useful is if each borrower was assigned some form of unique borrower id, and this was visible in the Your Loans listing (needless to say ultimately I'm sure many of us also want an excel dowloadable form of our book as well, but for the moment cut and paste is working). And of course displayed on each loan listing. This would then make it much much easier to track the aggregate holding against each borrower. I've now completely lost track (no pun intended) on car loans as I've lost the plot as to whether there is one, two or three different borrowers involved. While we wait for Ed to publish an official list, I have shared my list of borrow IDs here: p2pindependentforum.com/thread/4312/which-borrowers-linkedI last updated the list on 16 Feb. I will add today's new loans. David
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david42
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Post by david42 on Feb 12, 2016 23:40:38 GMT
Are you worrying because I have offered some for sale? It is my way of diversifying. I bought a lot of this loan during the January drought and earlier this evening some other kind sole sold some other loans, giving me the opportunity to spread my money more uniformly.
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david42
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Post by david42 on Jan 29, 2016 23:11:24 GMT
Please let me know if this information is readily available elsewhere, but I have been struggling to keep track of where I have multiple loans to the same borrower.
I attach my attempt to group the loans that share a significant common borrower risk. I hope this list will help others, and maybe others will be able to improve on this if my assumptions are incorrect. Hopefully the planned website improvments will make this list redundant in the near future (hint Ed?).
Assumptions: 1) I have relied on the borrower information published against each loan. 2) Where the borrower is not described in the loan, I have assumed the borrower does not have another moneything loan. This applies to the loans MT269, MT267, MT266, MT265, MT235, MT215, MT190, MT147, MT103 and the Broadoak property loans. 3) There can be a tricky assessment as to whether we are significantly exposed to the agent or to the end borrower. As I want to focus on the exposure limit that concerns me most, I have made the following choices: 3a) I have treated the C*** S*** loans as a single borrower. Although we have some protection from the individual assets, I think most people consider we would struggle to recover our money if CS failed. 3b) Similarly I have treated the AE loans as a single borrower. 3c) On the other hand I have treated Broadoak Property loans as independent, because I am assuming our prime security comes from the underlying asset. 3d) Similarly I have treated the loans handled directly by Moneything as independent loans.
To avoid risk of identifying borrowers, I have listed only the loan IDs below. The following Excel formula can be used to extract the ID from a loan name in cell C2. SUBSTITUTE(MID(C2,FIND("(",C2)+1,6),")","")
Loan-ID,Borrower MT349,scar MT350,scar MT345,ccar MT328,MT277 MT322,car1 MT321,car1 MT320,car1 MT319,car1 MT318,car1 MT317,car1 MT308,scar MT306,MT277 MT280,scar MT279,scar MT277,MT277 MT275,scar MT269,MT269 MT267,MT267 MT266,MT266 MT265,MT265 MT251,art1 MT250,art1 MT249,art1 MT248,art1 MT247,art1 MT246,art1 MT245,art1 MT244,art1 MT243,art1 MT242,art1 MT241,art1 MT240,art1 MT239,art1 MT235,MT235 MT225,art1 MT224,art1 MT223,art1 MT222,art1 MT221,art1 MT220,art1 MT219,art1 MT218,art1 MT217,ccar MT216,ccar MT215,MT215 MT190,MT190 MT147,MT147 MT103,MT103 CSP329,CSP CSP323,CSP CSP309,CSP CSP278,CSP CSP268,CSP CSP253,CSP CSP252,CSP CSP237,CSP CSP234,CSP CSP232,CSP CSP231,CSP CSP229,CSP CSP228,CSP CSP227,CSP CSP226,CSP CSP213,CSP CSP212,CSP CSP211,CSP CSP210,CSP CSP175,CSP CSP174,CSP CSP118,CSP CSP117,CSP CSP116,CSP CSP115,CSP CSP114,CSP CSP111,CSP CSP110,CSP CSP109,CSP CSP108,CSP CSP107,CSP BPF347,BPF347 BPF311,BPF289 BPF310,BPF310 BPF307,BPF307 BPF289,BPF289 AE326,AE AE325,AE AE316,AE AE315,AE AE291,AE AE290,AE
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david42
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Post by david42 on Jan 22, 2016 20:04:25 GMT
Got home at 5.45
:-(( Gutted Moneything is my favourite platform at the moment and I managed to get what I wanted today. If Ed aims to grow the number of loans and broaden the investor base, the 1% restriction and 4 O'clock bunfight will alienate an increasing numbers of investors. Prefunding does not need the complexity we see on other platforms. On any loan, whether pipeline or current, the platform should accept my advance order regardless of what is available. Then, when some is available, it would share it out between outstanding orders up to the limit of the amount I had asked for, or my available cash, whichever is less. If Ed is aiming to increase the flow of loans, the benefit of accepting advance orders is: a) enable a wider range of investors to participate at times convenient to them. b) speed up sales in both primary and secondary markets - helpful at times when supply exceeds demand c) It would also remove any need for people to start writing bots, or the race to spot pictures of cookies and milkshakes that some of us are getting so much practice at on another platform.
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