tonyr
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Post by tonyr on Jan 2, 2017 22:31:18 GMT
Has anyone else sold any of this? I see that there is now £394k available (late on 02Jan17). I took a screenshot on 02Dec16 and there was £282k available, so clearly it's out of favour.
I've not sold a sausage. I know that it was moving slowly before 02Dec16, so I don't expect to have sold much, but nothing at all seems like there's a bug somewhere.
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kermie
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Post by kermie on Jan 2, 2017 22:53:30 GMT
Very slow to shift - I can't recall when I started to sell off (2-3 months ago?) but I put £100 up for sale, and have only sold about £2.
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Post by oldnick on Jan 3, 2017 6:25:01 GMT
I noticed the jump in availability and assumed that it was underwriter activity - waiting for loan parts to sell before topping up the pot again. Who knows whether this is the last of it.
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oldgrumpy
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Post by oldgrumpy on Jan 3, 2017 10:58:02 GMT
Another reason why I will not invest in AC's current swathe of 7%-8.5% loans - selling is almost impossible. In a queue system you eventually get to the front (as in SS SM). In AC's system, if anyone buys, just a small bit of many sellers' loan parts is sold - and if there are very many sellers, that may well not include you! You may well not sell up until the whole available amount is bought up - maybe never. As more people want to sell, the same principle applies continually.
This now seems to apply to larger 9%+ loans with no physical property security.
Only invest in these low rate loans if you are prepared to hold for the full term.
PS I'm stuck in #317 too, but I haven't been trying to sell.
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SteveT
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Post by SteveT on Jan 3, 2017 11:38:47 GMT
IIRC, the problem is worse with #317 as it's ineligible for the GBBA (no property security), so the only buyers would be MLIA lenders, most of whom either won't touch it (no property security!) or have enough already.
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tonyr
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Post by tonyr on Jan 3, 2017 15:39:22 GMT
Thanks all. I do have some #250 T* investments (Project B*) which hasn't shifted a penny in months as well, same problem I guess.
AC is very different at the start of 2017 than it was at the start of 2016.
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mikes1531
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Post by mikes1531 on Jan 4, 2017 4:19:57 GMT
Has anyone else sold any of this? I see that there is now £394k available (late on 02Jan17). I took a screenshot on 02Dec16 and there was £282k available, so clearly it's out of favour. I've not sold a sausage. I know that it was moving slowly before 02Dec16, so I don't expect to have sold much, but nothing at all seems like there's a bug somewhere. : Have you been watching how much of this loan has been offered at a discount? There's just micro-shrapnel available at a discount right now, but I take that as evidence that there have been some discounted sales. Since discounted parts go to the front of the sales queue, that could explain why parts offered at par have been very slow to sell.
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james21
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Post by james21 on Jan 4, 2017 7:11:43 GMT
I dont see any reason to invest in this one when there is so much better available (possibly not in Assetz though at the mo) not sure why folk did, its 5 yrs for a retail business, 3 months into it, no physical asset, personal guarantee of only 10% of the loan value, interest only 9%
Little wonder its not fully filled and folk not wanting to buy secondary loan parts undiscounted when its only 3 months in
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Post by jevans4949 on Jan 4, 2017 10:31:35 GMT
For either #250 or #317, you would have to be very confident in the viability of the business over the period of the loan. Hence, without the ability to assess this, I steered clear of both.
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tonyr
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Post by tonyr on Jan 4, 2017 11:30:33 GMT
Has anyone else sold any of this? I see that there is now £394k available (late on 02Jan17). I took a screenshot on 02Dec16 and there was £282k available, so clearly it's out of favour. I've not sold a sausage. I know that it was moving slowly before 02Dec16, so I don't expect to have sold much, but nothing at all seems like there's a bug somewhere. : Have you been watching how much of this loan has been offered at a discount? There's just micro-shrapnel available at a discount right now, but I take that as evidence that there have been some discounted sales. Since discounted parts go to the front of the sales queue, that could explain why parts offered at par have been very slow to sell. Nope, sorry. I would like to have much better monitoring. There was supposed to be an API go live last Easter - I wonder what happened to it? I'd like it now.
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tonyr
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Post by tonyr on Jan 4, 2017 11:37:41 GMT
For either #250 or #317, you would have to be very confident in the viability of the business over the period of the loan. Hence, without the ability to assess this, I steered clear of both. I wish I had now too!
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tonyr
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Post by tonyr on Jan 5, 2017 21:17:18 GMT
I hate moaners (there's a xmas sweater joke there) but today I sold two lots of #250 T* investments (Project B*) at 18:30:37 and 20:29:22 at about 20 quit total. Looking back in the csv I see I even sold a very much smaller amount of 317 CUB* LTD over a few transactions in Dec16 - too small to catch my attention over the months.
So I think no bug here, just that the start of 2017 is very very different to the start of 2016 (which in turn was very different to when underwriting worked). I've no ethical issue with that, caveat emptor.
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