|
Post by ladywhitenap on Dec 1, 2014 12:03:14 GMT
Having only been on REBS for less than a year, I'm not sure if from now to the New Year is a quiet period for loan auctions and I should keep my spare cash in an interest bearing account for a month or so.
On a related point, it would be really good if REBS could publish some sort of pipeline info on volume of applicants and possible values & timings - pretty please?
The current emails are pretty useless in that respect as they only mention stuff already in the marketplace.
LW
|
|
|
Post by dodgeydave on Dec 2, 2014 10:55:47 GMT
Have you tried Saving Stream.
|
|
|
Post by nickrebuildings on Dec 2, 2014 13:39:04 GMT
dodgeydave - that's a banned statement round here! ladywhitenap - we've got them coming... without wishing to over-promise and under-deliver (as we do rely on third parties to send us information to complete applications and that can take a while sometimes) I hope we'll be able to list another 3 this week.
|
|
|
Post by edena on Dec 2, 2014 22:35:28 GMT
We've got a refinancing application in at the moment, we want to increase borrowing to £250k. Hopefully you'll feel enticed to lending all your hard earned cash We're waiting for it to be approved and listed.
|
|
|
Post by edena on Dec 8, 2014 14:45:46 GMT
Our £250k request is now live. We're asking previous lenders to transfer their previous funds to the new loan and then hopefully fill up the balance
|
|
|
Post by ladywhitenap on Dec 8, 2014 15:53:49 GMT
I'd be happy to transfer my existing loan to the latest one and perhaps top it up too if only there were instructions on how to do the former.
I've looked hard but not found the method to do this.
Any clues??
LW
|
|
|
Post by edena on Dec 8, 2014 16:06:21 GMT
According to Rebuilding Society's note:
New 'Transfer Bids' available for use on this loan! If you already hold a Microloan for LTT SME Ltds previous loan, you can transfer your capital on that loan across to this new loan request. Visit Your Dashboard to see if you currently hold a micro loan .
As a lender I see a different interface to you so I can't tell where this transfer button would be.
|
|
|
Post by ladywhitenap on Dec 8, 2014 16:13:49 GMT
Ah! Thank you.
There is a hot link in the text on your new request but that only takes me to the lenders FAQ and scrolling down to the advance FAQ it explains what a transfer bid is but not how to do it. I will look again and then try and contact REBS.
LW
|
|
|
Post by ladywhitenap on Dec 8, 2014 16:43:06 GMT
Here is the answer from Rebs
"Ordinarily you would be able to make transfer bids, however sometimes when a repayment is expected before the deadline closes this option won't become available until the repayment has landed. Since the repayment alters the amount of capital a lender can transfer this needs to be processed before transfer bids can be applied.
We are expecting the next repayment from LTT in 2 days time, at which point the transfer bids option will be available, of course if the repayment lands early then the same will apply for transferring.
Kind regards,
Nick"
Hope this may help others.
I guess something similar might happen when trying to trade microloans although I've not spotted it before today. Currently the option to sell microloans from the existing loan is unavailable
LW
|
|
|
Post by edena on Dec 8, 2014 17:03:43 GMT
Ok, I will make an early repayment tomorrow so that the transfer option is enabled.
|
|
markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Dec 9, 2014 10:13:36 GMT
Note, if your bids are eligible for the 0.5% cashback offer (e.g. you have invested less than £10000), then you don't get the cashback on transferred bids. If you have spare cash you may be better off bidding on this loan with new money, then withdrawing the money repaid from the old loan, although it's up to you if you think it's worth it for 0.5%!
|
|
|
Post by edena on Dec 11, 2014 13:02:19 GMT
The transfer option is enabled from what I hear.
Please try to keep your rate the same as the previous loan, I want to start pushing the rate down if possible.
|
|
|
Post by ladywhitenap on Dec 11, 2014 14:52:04 GMT
Note, if your bids are eligible for the 0.5% cashback offer (e.g. you have invested less than £10000), then you don't get the cashback on transferred bids. If you have spare cash you may be better off bidding on this loan with new money, then withdrawing the money repaid from the old loan, although it's up to you if you think it's worth it for 0.5%! Having just made a transfer bid on a loan auction, I note that the cashback incentive Icon has been placed against my bid? Of course this could be a website coding fault- a none too rare occurrence on Rebs these days! You point seems logically correct as the funds bid have already attracted a cashback - I'll wait and see what actually happens not that I'm that bothered by 0.5% on a small amount of remaining capital transferred! LW
|
|
markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Dec 11, 2014 15:34:06 GMT
ladywhitenap, did you also have new money bid at that rate? I've just tried it too and have also got the symbol, but I had previously bid new funds and all bids are lumped together so you can't tell which have cashback and which (if any) don't. I don't know if I got the symbol on the previous loan that had a transfer option, but I definitely didn't get cashback on transfer bids. In one sense it is logical because as you say the transferred funds have already attracted cashback, but on the other hand if you waited for the loan to repay then re-invested it in another loan, you'd get another dollop of cashback (just as you do with normal repayments and any proceeds from sales). It would also be nice to have a "transfer all" option, I now have a bit over £4 in the old loan that I can't do anything with!
|
|
|
Post by ladywhitenap on Dec 11, 2014 15:44:15 GMT
ladywhitenap, did you also have new money bid at that rate? I've just tried it too and have also got the symbol, but I had previously bid new funds and all bids are lumped together so you can't tell which have cashback and which (if any) don't. I don't know if I got the symbol on the previous loan that had a transfer option, but I definitely didn't get cashback on transfer bids. In one sense it is logical because as you say the transferred funds have already attracted cashback, but on the other hand if you waited for the loan to repay then re-invested it in another loan, you'd get another dollop of cashback (just as you do with normal repayments and any proceeds from sales). It would also be nice to have a "transfer all" option, I now have a bit over £4 in the old loan that I can't do anything with! I transferred and topped up but at different rates so I have two entries in the bid table. both are marked with the cashback icon. The remainder funds should become available when the original loan is redeemed. I assume in the event that the new application fails for any reason, the transfers will be revoked and the original loan will continue as if no new auction had been run. Sub £10 bid amounts arising from transfers will probably mess up the outbidding algorithm so I can possible understand why they do it this way. I have to admit to being a bit fed up with having to theorise and experiment to see what actually happens in various situations rather than to read clear descriptions in FAQs etc. This seems to be a common feature with other P2P schemes and contrary to my preference for detail. c'est la vie LW
|
|