shimself
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Post by shimself on Mar 25, 2016 10:24:15 GMT
I really do not see the point of the new 'maximum discount available' figures for the secondary market. Sometimes the micro loan in question does not even appear in the micro-loan page list, and so can not even be purchased ( should anyone be silly enough to want to), presumably because it is so far down the list! (only the top 100 by maximum rate are listed). ... Well for sure I would buy the microloan which gave me the maximum return rather than the one which gave the seller maximum pain
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Mar 25, 2016 10:29:39 GMT
I really do not see the point of the new 'maximum discount available' figures for the secondary market. Sometimes the micro loan in question does not even appear in the micro-loan page list, and so can not even be purchased ( should anyone be silly enough to want to), presumably because it is so far down the list! (only the top 100 by maximum rate are listed). At the moment, the secondary market is a dogs dinner of a mess, regarding discrepancies between suspended loans/ micro-loans/ and published maximum rates on the main secondary market page which do not exist because trading is suspended. Get it sorted! What is the policy to be going forward regarding the number of days late before trading is suspended? You might want to consider having all micro-loans up for sale having a time-limit, in common with other places. It might help to free up the market a bit, as it is now all clogged up with micro-loans looking for increasingly rare buyers. There is nothing so unwanted in this world than poor Rebs micro-loans! How about a 1973 Austin Allegro Van Den Plas in a quaint shade of baby poo?
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shimself
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Post by shimself on Mar 25, 2016 10:41:07 GMT
..... There is nothing so unwanted in this world than poor Rebs micro-loans! How about a 1973 Austin Allegro Van Den Plas in a quaint shade of baby poo? Highly desirable apparently
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brin
I am trying to stay calm.
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Post by brin on Mar 25, 2016 10:43:28 GMT
Here's mine, or similar, 1972 VDP 1750cc pretty quick it was too. Them were the days...not. Bawtry auction £220.00.
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kaya
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Post by kaya on Mar 30, 2016 15:26:32 GMT
Rebs, could you please remove the headline 'gross yield' figure from the front page, as this is misleading and is likely to fool the unsuspecting into thinking that such returns are likely. Or let it stay, but either way, lets see the NET yield figure displayed. And by the way, I'm being nice by just calling it 'misleading', so please get this done asap, thank you.
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ablender
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Post by ablender on Mar 30, 2016 18:29:37 GMT
Rebs, could you please remove the headline 'gross yield' figure from the front page, as this is misleading and is likely to fool the unsuspecting into thinking that such returns are likely. Or let it stay, but either way, lets see the NET yield figure displayed. And by the way, I'm being nice by just calling it 'misleading', so please get this done asap, thank you. I see what you are referring to. I think they just forgot the negative sign in front of the number.
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kaya
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Post by kaya on Apr 1, 2016 12:41:38 GMT
It gets worse. The gross rate changes 16.7% to 15.4% if you click for more info, or look at the home page:
Invest in UK businesses
Earn an average gross yield of 15.4%* Support small businesses Earn a passive income Secure loans over £50k We collect & recover Unrepaid capital at risk of arrears & default
...is what it says. I can find no asterix follow-up of the 15.4%.
Quite frankly, I think that the 'claimed return' above, which seeks to attract new investors, is misleading. We can see how FC clearly advertise expected net returns (though perhaps do not make clear that the figure is an average, and for every winner earning above that figure there is a loser (comparitively) below). The statement re 'secure loans' is also arguably (okay, unarguably) misleading. It means nothing.
I havn't given up on Rebs yet (more fool me, perhaps), but they need to get this sorted or they might get sued for making misleading claims. Would pensions advisors get away with this, or banks?
There is also real confusion over whether or not micro-loans are tradeable on some loans, and at what point they become suspended.
I'm on your side Rebs, but if you don't get your act together, we will all be losers. And its the lenders that lose the most.
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Post by Reged on Apr 9, 2016 10:33:02 GMT
I would argue for some kind of filtered micro loan list. I like to reinvest my returns asap (I'm retired so I've got the time!) but if I have £20 or £30 to spend I have to trawl through each individual company to see what's on offer, which given Rebs speed issues can take a while. A list I could filter between amounts on offer and buyers interest rate, maybe other things like number of late payments etc, would make this process much easier.
On the auction side I endorse those urging much shorter auction periods. Certainly no more than a week. Otherwise if you bid early your money is tied up unproductively for much too long.
However, although I am a newbie, so yet to confront a slings and arrows phase, I think Rebs is a very good site and the customer interaction is impressive.
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shimself
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Post by shimself on May 5, 2016 11:27:41 GMT
The marketplace screen has those little coloured triangles, most especially the yellow one which tells me i am in danger of being outbid. On Jaspers, which is only 20% filled and had only 8 hours to go. The logic is obv flawed
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Post by rebsrep on May 5, 2016 11:48:05 GMT
The marketplace screen has those little coloured triangles, most especially the yellow one which tells me i am in danger of being outbid. On Jaspers, which is only 20% filled and had only 8 hours to go. The logi c is obv flawed Thanks shimself. We are aware of that one, but it's low priority to fix as I'm sure you'll appreciate, you'll want us, I'm presuming, to focus on developments that bring more secure loans to the platform, get current loans filled, improve SM liquidity, speed of site use etc.
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shimself
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Post by shimself on May 5, 2016 18:18:11 GMT
The marketplace screen has those little coloured triangles, most especially the yellow one which tells me i am in danger of being outbid. On Jaspers, which is only 20% filled and had only 8 hours to go. The logic is obv flawed Thanks shimself . We are aware of that one, but it's low priority to fix as I'm sure you'll appreciate, you'll want us, I'm presuming, to focus on developments that bring more secure loans to the platform, get current loans filled, improve SM liquidity, speed of site use etc. Actually I'd like to hear that you are in sufficient control of the software that you can fix silly things like this as they arise. eg MT, AC
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kevinkelly
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Post by kevinkelly on May 6, 2016 7:49:47 GMT
Thanks shimself . We are aware of that one, but it's low priority to fix as I'm sure you'll appreciate, you'll want us, I'm presuming, to focus on developments that bring more secure loans to the platform, get current loans filled, improve SM liquidity, speed of site use etc. Actually I'd like to hear that you are in sufficient control of the software that you can fix silly things like this as they arise. eg MT, AC Totally agree with this point. If you can't get the basics right, such as the website claiming that ML trading is "suspended" when it is still possible to trade, then how much faith do you expect us to have in the rest of the system?
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Post by rebsrep on May 6, 2016 11:02:17 GMT
Actually I'd like to hear that you are in sufficient control of the software that you can fix silly things like this as they arise. eg MT, AC Totally agree with this point. If you can't get the basics right, such as the website claiming that ML trading is "suspended" when it is still possible to trade, then how much faith do you expect us to have in the rest of the system? This has been fixed this morning.
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