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Post by Ace on Feb 20, 2021 12:02:10 GMT
Not exactly flying out the door but if everyone's like me they haven't had their funds credited. Not sure weekend launches are the best idea I've transferred yesterday after 5pm and it was credited @10.27 this morning. That's odd. I transferred yesterday before 5pm and it's not been credited yet.
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starfished
Member of DD Central
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Post by starfished on Feb 20, 2021 12:17:27 GMT
Not exactly flying out the door but if everyone's like me they haven't had their funds credited. Not sure weekend launches are the best idea Odd my email announcing it ended up in my junk mail folder (other emails from them hadn't). I wonder if that happened to other too. Found out here...
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Post by df on Feb 20, 2021 12:20:08 GMT
I've transferred yesterday after 5pm and it was credited @10.27 this morning. That's odd. I transferred yesterday before 5pm and it's not been credited yet. I can't think of any logical explanation. I assume you've used ref number... Could it be a delay with bank transaction? I can't imagine CL having thousands of deposits to deal with this morning
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Post by Ace on Feb 20, 2021 12:24:59 GMT
That's odd. I transferred yesterday before 5pm and it's not been credited yet. I can't think of any logical explanation. I assume you've used ref number... Could it be a delay with bank transaction? I can't imagine CL having thousands of deposits to deal with this morning Yes, I used the same payee details that were saved in my bank payee list that I used for the previous loan. So ref number etc will be identical. Last time the deposit was almost instant. The only difference I can think of is that I didn't fill in the details on the CL site to say that I was making a deposit yesterday. I did fill them in this morning, but still not credited yet.
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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 Feb 20, 2021 12:35:27 GMT
I can't think of any logical explanation. I assume you've used ref number... Could it be a delay with bank transaction? I can't imagine CL having thousands of deposits to deal with this morning Yes, I used the same payee details that were saved in my bank payee list that I used for the previous loan. So ref number etc will be identical. Last time the deposit was almost instant. The only difference I can think of is that I didn't fill in the details on the CL site to say that I was making a deposit yesterday. I did fill them in this morning, but still not credited yet. Oops, that probably explains mine as I forgot about the site deposit bit
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Post by df on Feb 20, 2021 12:51:10 GMT
I can't think of any logical explanation. I assume you've used ref number... Could it be a delay with bank transaction? I can't imagine CL having thousands of deposits to deal with this morning Yes, I used the same payee details that were saved in my bank payee list that I used for the previous loan. So ref number etc will be identical. Last time the deposit was almost instant. The only difference I can think of is that I didn't fill in the details on the CL site to say that I was making a deposit yesterday. I did fill them in this morning, but still not credited yet. They should've displayed an explanation on "deposit" page for this bit. Not everyone is familiar with this system because most p2p sites don't do it like this. Can't assume that everyone has had FS/MT experience.
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nyneil
Member of DD Central
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Post by nyneil on Feb 20, 2021 12:51:51 GMT
From the "Our Role" section: Eligibility When determining if a borrower is eligible for a loan via Connective Lending, certain criteria’s must be met. These criteria’s are dependent on the type of borrowing and are set out below: Pawnbroking Eligibility: the borrower must be able to demonstrate proof-of-ownership. Property Loans Eligibility: A borrower must have: • Clear title to obtain a first legal charge. • Is an investment property and not a property that is habited by the borrower or their direct family. • Had no more than 3 CCJ’s within the last 6 years.
• Had no more than 4 late payments or arrears against secured loans/mortgages.
• Has not been made bankrupt in the last 3 years.connectivelending I would want to know if the borrower was 'compromised' by CCJs, late payments etc, prior to investing in a loan. As the borrower is only identified by an ID, what plans do you have to be transparent about the property borrower's history? I believe this is pertinent for property loans, as the return to investors on defaulted property loans is usually poor (and that's being generous!)
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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 Feb 21, 2021 18:47:17 GMT
Well this one has filled quickly after restrictions lifted with seemingly 2 investors mopping up the remnants.
Deposit never credited but apparently I have passed the bank checks ... again... looks like a few bugs still present.
Should be able to test withdrawal system
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Post by connectivelending on Feb 22, 2021 9:04:31 GMT
Dear Myneil, The answer is that you can exit from a loan and that your capital and interest will be paid to you once you investment is taken up by another investor. This will happen in a similar way to a new loan becoming available, but once launched, only your part of the loan will be available to other investors. Hope this explains well enough. Signing off now so have a nice weekend all. Connective Lending Will there be a renewal option for existing investors in the loan. If yes, will investors have to stick with the same tranche/rate? Or will the whole renewed loan be up for bidding from scratch? df The answer is that investors wishing to remain in the loan after renewal will remain in the same tranche. Only the parts of the loan that investors have exited from will be available for new investment. Hope this helps. Kind regards
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Post by connectivelending on Feb 22, 2021 9:06:42 GMT
From the "Our Role" section: Eligibility When determining if a borrower is eligible for a loan via Connective Lending, certain criteria’s must be met. These criteria’s are dependent on the type of borrowing and are set out below: Pawnbroking Eligibility: the borrower must be able to demonstrate proof-of-ownership. Property Loans Eligibility: A borrower must have: • Clear title to obtain a first legal charge. • Is an investment property and not a property that is habited by the borrower or their direct family. • Had no more than 3 CCJ’s within the last 6 years.
• Had no more than 4 late payments or arrears against secured loans/mortgages.
• Has not been made bankrupt in the last 3 years.connectivelending I would want to know if the borrower was 'compromised' by CCJs, late payments etc, prior to investing in a loan. As the borrower is only identified by an ID, what plans do you have to be transparent about the property borrower's history? I believe this is pertinent for property loans, as the return to investors on defaulted property loans is usually poor (and that's being generous!) nyneilThat is a very interesting point. There may well be some issues with privacy though I do not have the answer now. Allow us to look into this and revert back. Kind regards
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Post by connectivelending on Feb 22, 2021 9:10:19 GMT
Dear Forum Members, Please deposit funds from within your login panels and then send the monies please. This makes allocation and crediting of your funds much quicker. We will hopefully improve this system once beta-testing is complete. Kind regards
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Post by Ace on Feb 22, 2021 9:16:24 GMT
I can't think of any logical explanation. I assume you've used ref number... Could it be a delay with bank transaction? I can't imagine CL having thousands of deposits to deal with this morning Yes, I used the same payee details that were saved in my bank payee list that I used for the previous loan. So ref number etc will be identical. Last time the deposit was almost instant. The only difference I can think of is that I didn't fill in the details on the CL site to say that I was making a deposit yesterday. I did fill them in this morning, but still not credited yet. My deposited funds were credited at 8:50 this morning. Obviously a certain amount of sour grapes on my part, but it was a bit daft having a period with bid limits when it was not possible to deposit funds during that whole limited period.
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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 Feb 22, 2021 9:42:33 GMT
Yes, I used the same payee details that were saved in my bank payee list that I used for the previous loan. So ref number etc will be identical. Last time the deposit was almost instant. The only difference I can think of is that I didn't fill in the details on the CL site to say that I was making a deposit yesterday. I did fill them in this morning, but still not credited yet. My deposited funds were credited at 8:50 this morning. Obviously a certain amount of sour grapes on my part, but it was a bit daft having a period with bid limits when it was not possible to deposit funds during that whole limited period. Yep, same here though probably my fault for being late with recording the deposit.
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Post by Ace on Feb 22, 2021 9:56:06 GMT
My deposited funds were credited at 8:50 this morning. Obviously a certain amount of sour grapes on my part, but it was a bit daft having a period with bid limits when it was not possible to deposit funds during that whole limited period. Yep, same here though probably my fault for being late with recording the deposit. Yes, I totally accept that it was my fault too for cocking up the deposit process. My wider point was that it seems a bit daft to have a 24 hour bidding limit period when the whole of that 24 hours was during a weekend when it was not possible to deposit funds. It was fine if you managed to correctly deposit between when the loan was announced and COP on the Friday (14:44 to 17:00), but this is a fairly narrow and impractical window for many.
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mrdc
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Post by mrdc on Feb 22, 2021 15:11:04 GMT
Not sure how long it will take to make the two pawn loans that were filled yesterday to go active. They are still shown as live at the moment. Can't take as long as property loans i would have thought. The deposit process is a bit painful. You can't rely on transfering just prior to a loan,you have to leave a cash balance at all times.
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