Greenwood2
Member of DD Central
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Post by Greenwood2 on Mar 17, 2021 18:13:17 GMT
Still £175 on tranche C, surprising or are lenders getting more sensible and going for the safer tranches?
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Post by df on Mar 17, 2021 22:00:37 GMT
Only £200 left on tranche C. A and B all gone. I was about 1 minute late to the party, all three were still available, but A was definitely looking as the winner. This race was much quicker than the previous two.
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nyneil
Member of DD Central
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Post by nyneil on Mar 18, 2021 9:32:03 GMT
Still £125 of tranche C available. I'm content with my 'toe dip' in tranche A.
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Post by df on Mar 18, 2021 16:47:16 GMT
connectivelending will there be an initial bid limit, to give everyone a chance to get on board? They’ve heard you £50 limit for the next loan.
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Post by df on Mar 18, 2021 18:55:29 GMT
About 20 brave souls invested in the ring. If that's a current trend, £50 limit is a well thought limit. I hope the next watch in the pipeline will be £25... providing everything goes to plan (i.e. to onboard up to 500 investors by the end of May) it would be nice to see much lower limits for the tiny loans in future.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,214
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Post by ilmoro on Mar 19, 2021 16:03:53 GMT
Seem to have cocked up the limits. Wont let you invest £50 in a tranche if you only have £50 on the platfomr, limited to 50% funds for tranche C, 75% for tranche B connectivelending thats not how bid limits normally work!
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toffeeboy
Member of DD Central
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Post by toffeeboy on Mar 19, 2021 16:08:56 GMT
Just had a new one, I funded my account with £100 originally and have put £25 into each loan. This was my last £25 and I couldn't put it into tranche B because I couldn't invest more that 70% of my balance into this tranche, Tranche C was 50% but I could invest it in to Tranche A.
So basically you have to have excess money sat around in your holding account to be able to invest in Tranche B or C which makes no sense at all. If it was a message saying that you are doing it and are you sure then it makes sense to me but to not allow me to invest my money where I want to invest it isn't cricket.
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Post by df on Mar 19, 2021 16:51:38 GMT
Seem to have cocked up the limits. Wont let you invest £50 in a tranche if you only have £50 on the platfomr, limited to 50% funds for tranche C, 75% for tranche B connectivelending thats not how bid limits normally work! Very unusual, I've never seen this before. CL should at least warn us that this is the case. I wanted C but got A instead, which is probably better move anyway, I'm not too bothered, but it was a confusing experience.
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Post by Badly Drawn Stickman on Mar 19, 2021 17:02:10 GMT
Seem to have cocked up the limits. Wont let you invest £50 in a tranche if you only have £50 on the platfomr, limited to 50% funds for tranche C, 75% for tranche B connectivelending thats not how bid limits normally work! Very unusual, I've never seen this before. CL should at least warn us that this is the case. I wanted C but got A instead, which is probably better move anyway, I'm not too bothered, but it was a confusing experience. I can't recall where I read it on the platform, but it is there somewhere that this is how the system would work. The reasoning seemed fairly sound in that it prevents over participation in the higher rates alone (though clearly not hard to circumvent). Assuming there is any of the loan left after the bid limit expires I assume the same rule would still apply. which is presumably why the last bit of the previous loan hung around so long.
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Post by connectivelending on Mar 19, 2021 17:19:51 GMT
Hi All,
We can confirm that we do have a tranche restriction against the account balance for certain tranches (B and C) however, to date this has been turned off while we made changes to the system and especially where a bid restriction is already being used.
Unfortunately, for the watch loan today, the tranche restriction was turned on accidentally causing investors to limit their investment per tranche. The balance restriction is there to help prevent lenders from over investing in specific tranches of a loan, ensuring a more diverse portfolio. The restriction does not impact investors in tranche ‘A’, however, would apply (if implemented) to B and C tranches.
We have removed the tranche restriction for this loan, and you should now be able to invest up to the bid restriction (£50).
We apologise for any inconvenience caused by this.
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Post by df on Mar 20, 2021 19:27:49 GMT
Hi All, We can confirm that we do have a tranche restriction against the account balance for certain tranches (B and C) however, to date this has been turned off while we made changes to the system and especially where a bid restriction is already being used. Unfortunately, for the watch loan today, the tranche restriction was turned on accidentally causing investors to limit their investment per tranche. The balance restriction is there to help prevent lenders from over investing in specific tranches of a loan, ensuring a more diverse portfolio. The restriction does not impact investors in tranche ‘A’, however, would apply (if implemented) to B and C tranches. We have removed the tranche restriction for this loan, and you should now be able to invest up to the bid restriction (£50). We apologise for any inconvenience caused by this. connectivelending , will this restriction be turned on for the next loan or is it something to be introduced at a later stage?
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Post by df on Mar 20, 2021 20:17:50 GMT
Very unusual, I've never seen this before. CL should at least warn us that this is the case. I wanted C but got A instead, which is probably better move anyway, I'm not too bothered, but it was a confusing experience. I can't recall where I read it on the platform, but it is there somewhere that this is how the system would work. The reasoning seemed fairly sound in that it prevents over participation in the higher rates alone (though clearly not hard to circumvent). Assuming there is any of the loan left after the bid limit expires I assume the same rule would still apply. which is presumably why the last bit of the previous loan hung around so long. I found it in FAQs : "Depending on the loan tranche you are looking to invest in, certain restrictions may apply. To ensure lenders diversify their investment, we have placed restrictions on the maximum amount an investor can invest against their ‘Available Balance’ to prevent overexposure." - it would've been better if this was followed by percentages. I'm not quite sure how this feature can help or incourage diversification.
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Post by Ace on Mar 20, 2021 20:46:46 GMT
I can't recall where I read it on the platform, but it is there somewhere that this is how the system would work. The reasoning seemed fairly sound in that it prevents over participation in the higher rates alone (though clearly not hard to circumvent). Assuming there is any of the loan left after the bid limit expires I assume the same rule would still apply. which is presumably why the last bit of the previous loan hung around so long. I found it in FAQs : "Depending on the loan tranche you are looking to invest in, certain restrictions may apply. To ensure lenders diversify their investment, we have placed restrictions on the maximum amount an investor can invest against their ‘Available Balance’ to prevent overexposure." - it would've been better if this was followed by percentages. I'm not quite sure how this feature can help or incourage diversification. This feature seems ridiculous to me, perhaps I've misunderstood it. As I read it: if one has £1m diversified across 1000 tranche A loans and £25 of available funds, the £25 cannot be invested in Tranche C of the next available loan.
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Post by df on Mar 20, 2021 21:53:22 GMT
I found it in FAQs : "Depending on the loan tranche you are looking to invest in, certain restrictions may apply. To ensure lenders diversify their investment, we have placed restrictions on the maximum amount an investor can invest against their ‘Available Balance’ to prevent overexposure." - it would've been better if this was followed by percentages. I'm not quite sure how this feature can help or incourage diversification. This feature seems ridiculous to me, perhaps I've misunderstood it. As I read it: if one has £1m diversified across 1000 tranche A loans and £25 of available funds, the £25 cannot be invested in Tranche C of the next available loan. I like the "£1m/1000 loans" ambition Surely if you can afford to chuck 1m into a single platform - £25 mischief shouldn't be an issue. It doesn't make much sense to me. It is looking more like a cash drag encouragement than diversification.
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nyneil
Member of DD Central
Posts: 349
Likes: 438
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Post by nyneil on Mar 22, 2021 12:25:50 GMT
£225 remaining in Trance A of the 6 month loan against a Rolex 16200 Date-just.
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