|
Post by bikeman on Aug 4, 2017 19:50:45 GMT
I have some investment in the GEIA. I wasn't happy with the way AC had 'diversified' my investment in that they put everything into just a couple of loans. So I put in a sell request.
For some reason these GEIA sell requests are now showing as a buy request in the MLIA. I also received an email saying that I should top up the MLIA account to allow this buy request to proceed.
This seems a bit of a cockup.
|
|
|
Post by bikeman on Aug 4, 2017 19:42:26 GMT
I am finding that GA customer services often fail to respond to enquiries and if they do it often takes more than a week to do so. If I ask awkward questions I often get no response. They don't diversity their lending much, most of my investment in the GEIA account is in 3 loans and now one of them is suspended from trading. I'm not very impressed with GA and I'm thinking of moving on if I can actually get hold of my investment. What is the awkward question? I received and email from AC informing me that I had made a buy instruction in the MLIA which couldn't be fulfilled. I never made any buy instruction so I asked AC to investigate. It doesn't inspire confidence.
|
|
|
Post by bikeman on Aug 4, 2017 15:22:18 GMT
We have ensured we have a particularly well staffed customer service desk and would encourage a quick call - we will actually answer the phone and assist which is novel in this day and age ! I tend to use email during working hours as getting privacy when I am at work is difficult. Also I do like to get answers in writing so I can mull the response over. And dare I say it's not unusual for some cust svces staff to start winging it in phone calls.
|
|
|
Post by bikeman on Aug 4, 2017 15:20:21 GMT
Does GA stand for Green Account? Or General Accounts? No sorry I should have proofread before sending, I meant to type AC.
|
|
|
Post by bikeman on Aug 3, 2017 19:18:59 GMT
Would anyone know why, starting from 0 and investing say 10K in the QAA, that 10K is split between hundreds of loans (visible in 'Your loan holdings') many of which are in TRADING SUSPENDED status, like loans 457/437/435/407/330/240/230/86/...? Why would any new money be assigned to loans that are already in trouble??? Hundreds of loans? I don't know if that is better or worse than the bulk of mine going into a single suspended loan? AC makes me nervous.
|
|
|
Post by bikeman on Aug 3, 2017 19:14:11 GMT
I am finding that GA customer services often fail to respond to enquiries and if they do it often takes more than a week to do so.
If I ask awkward questions I often get no response.
They don't diversity their lending much, most of my investment in the GEIA account is in 3 loans and now one of them is suspended from trading.
I'm not very impressed with GA and I'm thinking of moving on if I can actually get hold of my investment.
|
|
|
Post by bikeman on Jul 17, 2017 14:28:37 GMT
I am invested in Assetz Captal's green energy income account.
I am concerned that the green energy fund is exposing me to a small number of loans - 50% of my investment is in two loans! How can it be that I get exposed at this rate when the fund pays interest at a much lower rate than investing in the loans directly?
|
|
|
Post by bikeman on Jun 19, 2017 12:23:00 GMT
Sorry if this is a bit obvious but I notice that loan repayment schedules are interest only. I guess this suits AC in that at the end of the term the borrow is likely to refinance but as a lender I am concerned that towards the end of the term it gets very much harder for me sell on the loan and the potential for default rises rapidly if they can't refinance.
Am I alone on thinking that business loan repayments should include the principal? Are all p2p lenders lending on these terms?
|
|
|
Post by bikeman on Apr 29, 2017 6:51:00 GMT
I think it could possibly be argued that cashback on funds waiting in the investment queue is actually interest BUT I can't agree that the referral fee I received is interest.
I am going to ask Landbay but I expect to be ignored. Most of these p2p companies are a law unto themselves.
|
|
|
Post by bikeman on Mar 20, 2017 12:15:38 GMT
Just wanted to share a recent experience with Ratesetter.
I grabbed a 1 year rate of 3.5% with Ratesetter only to have the loan paid off within 5 days! I was under the impression that funds were spread across loans but apparently not.
Thankfully I had it set to reinvest in the rolling market because had it been reinvested in the 1 year the rate would have been let at a lower 2.9%.
Ratesetter ignored my emails so I telephoned them but sadly the woman in cust svces basically said tough these things happen.
|
|
|
Post by bikeman on Mar 20, 2017 11:57:37 GMT
Hi
Arrived here when searching for info on Landbay.
I've had funds sitting in the investment queue for 2.5 months. Granted I am getting interest but i'm concerned that Landbay's loan book is so slow. Despite reassurances from july last year it's still slow.
Of course if there's no new loans then interest is being paid from queued investments and doesn't that make Landbay a ponzi scheme?
|
|