savernake
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Post by savernake on Feb 9, 2021 14:11:31 GMT
I'm struggling to see where P2P platforms (those who lend to businesses) are going to find their future borrowers. If interest rates go negative, and with businesses able to access cheap finance via the government CBILS/Covid-19 related aid schemes , where is the incentive for a business to borrow at 6-8% from a P2P platform?
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savernake
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Post by savernake on Oct 30, 2020 17:45:16 GMT
My Access RYI 376120 was completed today at 17:30.
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savernake
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Post by savernake on Oct 23, 2020 12:35:05 GMT
When the world gets back to normal (post-vaccine), I wonder what lessons will be learnt by those managing P2P platforms? Following the 2008 financial crash the high street banks were forced to adopt new regulations to ensure they wouldn't go bust in the event of another financial crisis. Perhaps similar regulations should be brought in for fintechs too? As for RS, I hope their founders manage to escape from their new Metro bosses and start up a new P2P platform in a few years time. RS was always my favourite platform until March of this year, and they will leave a big hole in the P2P market. I hope we haven't seen the end of the platforms with provision funds as this was what attracted me to P2P in the first place.
On a different note, I'm slightly surprised Metro haven't used this takeover as an opportunity to cross-sell their savings products to RS lenders. A new Ratesetter branded product range, FSCS protected, to compete with those being offered by Zopa perhaps?
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savernake
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Post by savernake on Sept 18, 2020 11:42:24 GMT
Access RYI 374968 was processed today.
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savernake
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Post by savernake on Sept 11, 2020 9:15:04 GMT
Once the Metro takeover is complete, all new lending will be funded by them. Doesn't that mean all capital repayments which are currently being re-lent out in A/P/M will become available for the RYI queue instead? So the queue should start to move more quickly right?
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savernake
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Post by savernake on Sept 6, 2020 12:51:36 GMT
This discount levels have dropped - now at least 30k available at 8.31% so the discount has dropped over 1 full percentage points since yesterday. Possibly because at least one of the vultures attempting to panic everyone on here into selling at a huge discount has been exposed?
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savernake
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Post by savernake on Sept 1, 2020 13:30:57 GMT
All good points iRobot. It should be noted that I have reduced my exposure, not sold out 100%. (reduce it to a very very low 10k level) Before anybody reads my babble, please remember this just my opinion and really has alot of emotionally driven bias to it. I'm not certain in response to any of your questions honestly; peer to peer was and still is the Wild West. Having been invested since 2016 on platforms of the likes of Lendy, Funding Secure (I successfully timed my exit on both having only £500 in zombie loans with profits into the high four digits) I'm getting cold feet with AC now, primairly the AA's. You just never know what's around the corner. I bet many people who invested in those companies would die at the chance for a 5-7% discount to reduce/cash-out entirely with hindsight. The long term view would be 5-10 years at current repayment rates. As we have seen since March, the repayments seem to vary greatly. As AC begin to lend more loans inside the AA's it is my understanding that repayments will reduce. This holding is such a small amount, that I really do not mind how long it takes AC to repay me, baring I get my interest and bonus! I am always run by the stock philosophy of *If you have to question a holding, you shouldn't be holding it* and I feel like that with AC. I also enjoy *If you won't' buy more of what you hold in distress, you shouldn't be holding it*. This has always served me well when investing in the likes of Fundsmith, vanguard on the market ect. These are just opinions since everybody situation is different, whatever helps people sleep at night they should follow. I have no evidence for this point since AC won't release any types of data to us. This lack of transparency has me constantly on guard, I tend to ally with those on this board that see this as some type of very direct action to obscure/smoke mirrors the reality of the queue. I cannot see how if AA's went to PAR why anybody who is currently holding them and ordering a wind-down wouldn't reduce/exit. I guess confidence would have to greatly increase to get to this point. AC has created a market type instrument now, make no mistake markets do not act rationally and I really feel uneasy holding anything substantial in this untested/low market cap arena. As somebody again who trades mainly in stocks/shares and fund. If this fund was on the market, I would steer clear... That being said, when looking at AC compared to its competitors, I believe AC have done a good job in protecting the capital of investors and ensuring the ship didn't sink in the darkest days in 2020. Those who are not exiting are getting paid interest. I would rather be in AC than RS or any of the many winding down.take over companies. However, this doesn't mean I should overexpose myself of course.
I no longer quite understand the exit route for AC (do they have one?) and what the future is, this is likely my main concern. If I was invested in only MLA loans I'd not be selling out, I'd let the AA fiscal pan out and not take much notice. Therefore I'm reducing my holding. Ramble over It's a shame to see one of AC's staunchest supporters on here now getting nervous and looking for the exit. That's not a criticism of you Harland, and I agree with everything you've said, but your change of sentiment just shows how far things have changed with the AA since March. My sentiments are very much aligned with your own, I'm concerned about the effect emails from AC are having on the market and I suspect the day when the AA returns to par trading will be the day that Satan commutes to work on ice skates. I invested in a Quick Access account. I didn't choose to invest in a market. I appreciate the world has changed now, but I'm not comfortable with what the AA has morphed into. So we are thinking along the same lines, but I still can't stomach selling out at the current discount. I may wait until the next monthly interest payments when hopefully the discount may drop by another 1% or so.
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savernake
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Post by savernake on Sept 1, 2020 7:32:39 GMT
It looks to me like all the interest transactions were done at 0%, regardless of requested discount. On one of my accounts, an instruction was added at 7.16am for <0.01. Something hasn't quite worked methinks! Thus the SM remaining unchanged.
The discount rate is still the same as it was last night! The monthly interest run doesn't appear to have had any impact at all. Surely this can't be right?
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savernake
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Post by savernake on Aug 26, 2020 8:39:26 GMT
chris If we have set a withdrawal instruction, does this mean we cannot have our monthly interest re-invested? Wouldn't the system need to create a buy order to re-invest the interest?
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savernake
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Post by savernake on Aug 25, 2020 14:45:30 GMT
I really hope something comes from this. Since Covid-19, being an investor with AC feels like being trapped on a never-ending roller coaster ride.
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savernake
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Post by savernake on Aug 25, 2020 9:01:35 GMT
Do we know what proportion of the AA holdings are now unable to be traded?
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savernake
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Post by savernake on Aug 22, 2020 17:00:59 GMT
I have just noticed that all my withdrawal instructions for my non-ISA funds are showing on the ISA Tab, and as going to/from various ISA accounts. I have no instructions showing on the non-ISA tab despite that being where they all are. The transactions seem to be operating correctly but showing on the dashboard incorrectly. Has anybody else got this ? (reported by email to assetz) My dashboard is showing my withdrawal instruction to pay from QAA (ISA) to Cash (ISA). I don't have an ISA account with AC! Some sort of display issue I suspect, because it was showing correctly a couple of days ago.
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savernake
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Post by savernake on Aug 22, 2020 16:44:11 GMT
Anyone got a view at what the discount to sell is likely to settle at is say a months time? I do want to raise some cash but close to 6% loss to do so at present is more than I want to lose I'm hoping the monthly interest run on the 1st September will drive the discount down as the system places multiple buy orders. Like you, I'm looking to sell but 6% is way too high for me. I can't see it remaining at 6% forever because there will come a point when there will be nobody left who is desperate enough to sell at that price.
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savernake
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Post by savernake on Aug 20, 2020 9:46:02 GMT
Is it typical for loans in the 1 Year market to repay a month early? I've noticed that 3 different loans that were due to finish on separate dates in September have all been repaid exactly a month early (give or take a day). Seems strange, almost suspicion raising - like RateSetter are closing out loans a little early to get more funds released? It' very common. I've had some 1 year loans repay within 6 months, especially ones which I'd matched high interest rates with. I wouldn't be surprised if RS are re-financing them from the A/P/M market.
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savernake
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Post by savernake on Aug 18, 2020 8:07:45 GMT
I've had money which this morning has been withdrawn from QAA and is showing on my dashboard as 'Uninvested funds'. However, this money hasn't been credited to my cash account so I can't withdraw any of it. Anybody else experiencing this issue?
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