ali
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Post by ali on Sept 19, 2016 10:08:11 GMT
In respect to the specific thread this does seem prudent and practical by MT. I'll pick it up on SS. I'm relatively new to MT and TBH I'm finding it comparatively hard work to get traction on moving my capital into projects except in 'penny numbers' . This is the disappointment so far. It is a problem, yes. The best window of opportunity is on the day that a new loan is going live. A number of people will be buying and selling loan parts as they re-balance their portfolio ready for the launch and you can often pick up quite a bit. It's also worth hanging around from about 8am to 10am, if you have the time; people often sell off things around then (presumably because they are intending to withdraw some money from MT). The final opportunity is around midnight to half-past for the late birds who hang on to get the extra day's interest before selling. None of these are guaranteed, of course, but I've managed to get pretty much fully invested apart from the odd loan like Dublin in about a month.
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ali
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Post by ali on Sept 18, 2016 10:56:09 GMT
I think a number of people (myself included) decided to stick a bit more in before the rates dropped How does that work then? The rates are projections and the rates you will achieve are those that are available when your money's matched. No amount of "beating the deadline" will improve that because in all likelihood, Zopa were already matching at those rates before their announcement. It's not like a B/S announcing a cut in rates, or am I missing something. I can't give you chapter and verse. However, the email that zopa sent out gave a specific cut off date, which presumably meant something: We're writing to let you know about upcoming changes to headline rates for Access, Classic and Plus. As of September 8th, 2016 all lender rates will decrease by 0.2%: - Access will reduce to 3.3% from 3.5%
- Classic will reduce to 4.1% from 4.3%
- Plus will reduce to 6.5% from 6.7%
Any money in the queue from September 8th will be lent out at these new rates, so you have time to manage your lending settings if you wish. We will be updating our website later this week to reflect the new rates.
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ali
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Post by ali on Sept 17, 2016 22:22:48 GMT
I didn't let that stop me from buying some. If the conclusion is that reporting is needed I'm confident that MoneyThing will provide the required reports to make it viable. Me neither, but it's not quite that simple. If you go over the threshold then you need to report all CGT calculations, not just MT ones. I hope my records are good enough that I could, but I guess I won't know for sure until next year.
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ali
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Post by ali on Sept 17, 2016 13:40:36 GMT
...and despite the cut in rates, the £2K I placed with Zopa (Access) a week ago still looks a million miles away from being matched... The £500 I put in Friday last is about half matched (at 11.6%/7.0%, to be fair). I think a number of people (myself included) decided to stick a bit more in before the rates dropped and that has created a little bulge which will be swallowed in time.
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ali
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Post by ali on Sept 17, 2016 13:09:30 GMT
And why would anybody buy it, for about 0.033% per day for a day or two? £50k for a few days at 13%, very little risk, not to be scoffed at Yes. I was a bit surprised that somebody bought my 12%; perhaps a really cautious lender. I shall quite happily pop it back in at 13% if nothing else comes up.
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ali
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Post by ali on Sept 15, 2016 13:22:43 GMT
collateral How about whether a loans funds have been released to the borrower (simple yes/no)? I.E in the case of COLBL00002 - Ne******* Ent****** Centre, Bootle which hasn't fully funded since Apr we cannot tell whether the money raised has been lent to the borrower. I've asked the question specifically on this thread. From the website:
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ali
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Post by ali on Sept 14, 2016 22:15:39 GMT
Would be appreciated if you could share your calcs once finished. Thanks Btw, it seems that there is no difference in risk assumed in the eur invoices by the investors. You can see 1%pd invoices going for 10%, 8%pd for 8% etc... it seems money has to be invested at any cost and risk. I've put together a spreadsheet to play with the various parameters and see what the effect on the yield would be. Please note that this is full of assumptions, many of which I've just made up and could give completely the wrong impression. No guarantees about my maths, either. If kristjan wants to put me straight on anything, I'm all ears: yield.ods (49.77 KB) I was surprised how little difference to the yield the default rate makes. Perhaps our European friends are more clued up than we had thought.
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ali
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Post by ali on Sept 14, 2016 16:33:15 GMT
Looking good, thanks.
Are you able to say which of the existing borrowers #21 is, please?
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ali
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Post by ali on Sept 14, 2016 14:09:00 GMT
The further point to make is that anyone who had more than £2400 in the OLD loan might not be all that happy either - the old loan fully repaid, and only part of the funds got re-invested in the new one. That'd include BHs and also some of the larger "normal" investors (but not me - I got my requested £500 in full). Or indeed odd people like me who had £1,200 in the old loan. I had to choose £1,000 or £1,500 in the new. As it happens, I was quite happy with £1,000, but I can see how that could have been annoying.
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ali
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Post by ali on Sept 14, 2016 12:26:57 GMT
For an example you can check the eur invoice situation. There is too much liquidity and although volumes are increasing, most auctions go well below 10%. I hope my prognosis is wrong on this. gpwm. If it goes the same way, I'll either be picking up the occasional outlier or have decided it's not worth the effort. Edit: One little complication. I see that some of the EUR invoices have a PD of 1% which would make sub-10% invoices more attractive. I'll have to do some calculations should such an invoice be offered in GBP.
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ali
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Post by ali on Sept 14, 2016 10:35:21 GMT
Me too, but I'm not convinced this would help at all. I guess it would attract more funds and rates go down.. Well, rates would stabilise. What's happening at present is people are worried that they will have cash sitting on the platform earning nothing and so want to get it lent, almost at any rate. If we could have confidence that another auction was always just around the corner then I think people would be more prepared to say: "That's too low, I'll wait for the next one". What level the rates will eventually settle at is a much harder question, of course.
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ali
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Post by ali on Sept 14, 2016 9:45:21 GMT
and going down... if there is no better opportunity I will withdraw my funds and invest it in saving stream. I'm hoping there are going to be a number of other invoices in the next few days. Time will tell...
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ali
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Post by ali on Sept 14, 2016 7:10:20 GMT
you're welcome
the invoice auction has now been extended for 24hours, hopefully we can fund the invoice with a reasonable interest rate. Yes indeed. I've transferred a (little bit) more money into Investly ready to make my small contribution.
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ali
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Post by ali on Sept 14, 2016 6:47:06 GMT
first investly will try to extend the auction, but that's up to the customer. if it's not Extended, the funds will then be released, but up until then, your funds are blocked (as are mine)... Many thanks. Much appreciated.
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ali
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Post by ali on Sept 13, 2016 17:37:04 GMT
So, invoices MJC-2819/2820/2821 were insufficiently funded. What does that mean (apart from the obvious!). Do we get another chance to add more money (I'll have some more cash available in the morning, perhaps others are in the same position)? If not, can I use the money currently tied up in this for invoice 4401 whose auction ends around lunch time tomorrow?
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