Ukmikk
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Post by Ukmikk on Mar 8, 2021 14:59:02 GMT
Multiple projects in one day isn't likely to help. There is insufficient time between loans to set the skip next project. Larger percentage of each loan should be allocated to auto-invest. I also think the Sunday email doesn't help and that the answer (if CP wish to give allow smaller lenders access to new loans) is to cap the pledges at £1000 or even £500. I would not want them to dilute their DD and allow riskier loans on the platform just to meet demand. They just need to allocate more (all in many cases) of each Loan to autoinvest, would result in a much fairer allocation overall.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Jan 27, 2021 10:05:01 GMT
Weird My allocation has changed for Nottingham - now 7.4% I noticed at the time it was over subscribed by about 5.5k on the summary, I guess this was the correction. All in all a bit of a dog's dinner this morning I felt. Hopefully a one off. Also I noticed that rather than hold their hands up they tried to blame increased demand for the site problems, which is nonsense. I don't like to see a platform trying to BS their lenders in any form, seen it too often and not a good sign. I hope CP are not going to go down this route.
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Ukmikk
Member of DD Central
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Likes: 298
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Post by Ukmikk on Jan 26, 2021 15:44:47 GMT
Weird My allocation has changed for Nottingham - now 7.4% I noticed at the time it was over subscribed by about 5.5k on the summary, I guess this was the correction. All in all a bit of a dog's dinner this morning I felt. Hopefully a one off.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Jan 26, 2021 10:15:32 GMT
Two new loans 10 minutes apart, so almost impossible to set autoinvest to skip both of them? Surely it would have made more sense to separate them by at least an hour? Not impressed... Just move all funds out of autoinvest. Nothing happening anyway. I guess they'll have to reschedule these two.
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Ukmikk
Member of DD Central
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Post by Ukmikk on Jan 26, 2021 10:10:14 GMT
Shambles
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Dec 7, 2020 14:26:55 GMT
Did anyone check if CP were aware of the director's colourful past? There was no recognition of it in the loan details today, unlike the Ab*rg*l* loan. I will not be investing in this, so didn't pursue it with CP. Maybe worth raising it with them if you're interested in lending on it. Simpler just to avoid. Thanks for flagging up liso
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Ukmikk
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Post by Ukmikk on Nov 17, 2020 13:39:25 GMT
It's good to hear that the warnings had an effect on the autolend as well, there must be a lot of CP investors in this forum. I'm expecting the %FULL rate to drop down a few times as others get wind and ask CP to withdraw their pledge. CP know what they are doing , but they should have washed their hands of it, they don't need it, sends out the wrong message, bad for business, more downside than upside potential.
I agree, even if CP believe that they can see it through this time, I don't think the borrower's previous shenanegins and subsequent losses inflicted on previous investors warrants opening the door to them. Disappointing from CP, I clearly need to watch them more closely than I have been.
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Ukmikk
Member of DD Central
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Likes: 298
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Post by Ukmikk on Nov 17, 2020 11:30:11 GMT
I have avoided investing in this one, largely due to the insights gained here. Thanks.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Oct 29, 2020 19:04:45 GMT
Apologies if I've missed it, I have not had time to keep up properly lately. Are the current discount rates for buying and selling available on the AC website anywhere, I had a look this afternoon but couldn't see anything. Thanks. AC choose not to advertise the discount rate, so you have to test and sample yourself unfortunately. I feared as much. Many thanks for your responses guys.
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Ukmikk
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Likes: 298
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Post by Ukmikk on Oct 29, 2020 16:43:15 GMT
Discounts now at 5.6% / 5.8% (for £10K). I wonder if the drop has been caused by some of the £4m loan #227 repayment hitting the AA SM. Must be close to the lowest discount on record, the auto reinvest seems to have completed now, up to 5.7% - 5.9% now, still quite a lot lower than last week though. Apologies if I've missed it, I have not had time to keep up properly lately. Are the current discount rates for buying and selling available on the AC website anywhere, I had a look this afternoon but couldn't see anything. Thanks.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Oct 12, 2020 13:14:00 GMT
"Improvement/changes in a couple of weeks" promises started at Q2 in 2019. None of this materialised yet. A couple of days ago my XIRR was 1.4% (it was constantly jumping between 1.x% and 10.x%). Now it has completely disappeared, can't see it on "account summary" page anymore, which is fine because it was useless (if not misleading). I've tried to analyse the data, but the numbers didn't match up, I gave up after two or three attempts. It's not more info that confuses people, it is how it is presented. Guys, let's not beat around the bush. Most of the facts we know point to this being a scam. I don't think it likely our money exists anymore, and I think everything else is hot air and delaying tactics. I suppose there is an outside chance it's incompetence and disorganisation, but I view that as much less likely. I would bet that this company is going to fold, the question is more when than if. Probably if/when the FCA gets involved going by previous examples. Makes you wonder what it would take for the FCA to get involved. Clearly, once they have doled out their approval to operate they take zero further interest in how these companies behave subsequently.
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Ukmikk
Member of DD Central
Posts: 445
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Post by Ukmikk on Oct 9, 2020 15:03:36 GMT
I'm more concerned by my steadily rising cash balance than renewals. Suggests they are short of business. I would be interested to find out the reasons behind that.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Oct 7, 2020 12:32:32 GMT
Thanks for tracking this @dead-money, I'm following with interest, I'm sure I'm not alone.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Post by Ukmikk on Sept 4, 2020 11:51:50 GMT
Do other lenders care about this? The speed at which these projects are funded would suggest not.
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Ukmikk
Member of DD Central
Posts: 445
Likes: 298
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Loanpad (LP)
Loanpad
Sept 3, 2020 16:10:00 GMT
via mobile
Post by Ukmikk on Sept 3, 2020 16:10:00 GMT
Yes, but 3 times very little is still very little. The margin for any sort of hiccup is wafer thin. I tend to agree, the risk and by association the rate are in relation to the loan type not what banks are paying in interest, Given I foresaw a rate cut about a page ago in this thread I can't claim any surprise that they have done it. I suspect many will be happy to go with it, for me it will no longer reflect the possible downside. Although according to the email the rate is indeed considered in relation to the market rate, which is currently lowered due to what the banks, with their mountain of cheap money, are paying.
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