markdirac
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Post by markdirac on Feb 8, 2016 11:51:59 GMT
Phew. Thanks Dude and GSV - the world continues to exist...
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markdirac
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Post by markdirac on Feb 8, 2016 11:44:50 GMT
I have just been allocated £180 of Great Bookham.
I am curious to "explore" the secondary market (this is my first loan part). If I click "sell loan part" will I immediately and irrevocably sell my loan part? Or will that fateful event happen at a later click, thus affording me the chance to explore how the secondary market operates?
Thanks.
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markdirac
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Post by markdirac on Feb 8, 2016 9:32:19 GMT
Why are these two loans going live (for want of a better term) when the web page says they are at stage 2, and not stage 3?
(Thanks by the way to Cooling and others for answers to Jivan's questions on this topic.)
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markdirac
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Post by markdirac on Jan 8, 2016 16:28:00 GMT
I must be stupid .... I don't see any of this as straightforward and simple though I have invested in P2P/P2B since 2010. I would like to suggest that you are not stupid. I respectfully suggest that the problem is that you are normal, but that AC doesn't want clients who are normal. I often think AC only wants clients who are IT types, or accountants, or computer games geeks who enjoy the challenge of the puzzle. Now that's what's stupid.
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markdirac
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Post by markdirac on Jan 8, 2016 16:21:05 GMT
... the site works quite differently to the other P2P platforms which some seem to equate with being complex, although in isolation I think they're all relatively straight forward and simple. Chris, I think there may be a very good reason why YOU think they're all relatively simple. Because you are a clever chap who DESIGNS these systems. So it's completely irrelevant what you think is simple. Andrew has said that AC wants to increase client numbers, and to communicate more effectively. In that case, what YOU think is simple should be the most unreliable indication of how to proceed in regards to explaining all this clever stuff to the people who matter - namely, not existing clients, like me, but potential new clients. If I were Chris's manager, I would be shocked that he had spent all that time yesterday writing out an explanation to just one client, and talking of pinning it to some bulletin board, when there's bound to be dozens of potential clients searching around, or hoping to find the time to search around, for just the same information.
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markdirac
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Post by markdirac on Jan 8, 2016 10:40:59 GMT
... One of my major focuses for the next six months will be ease of use of the platform. The underlying concepts are right we're just not communicating them very well and could do far more to guide new users through the platform. Where we do get things right though is that we have an excellent customer services team. If you do ever get stuck or want guidance as to how the platform works please get in touch with them as they'll do all they can to help you, including nagging me into making things clearer on the site. I too have found AC almost impossible to use. But not because of the website - which I find to be pretty good - but because of the absence of information about how AC's several unconventional and unexpected (whilst nonetheless clever, innovative, helpful) mechanisms work, are intended to be used, don't yet work, are safe to use. The documents / FAQs / help pages are completely trivial. The customer services team are responsive, but, in my experience, never read my question with any care or empathy at all, and simply end up offending me with a trivial yet patronising answer, such as "We cannot guarantee that no debts will fail". Thereby wasting both my time and theirs. The only way to find out about how the service is intended to be used is to plough through these forum pages. Whilst this forum is a most valuable contribution towards the adoption of P2P in the UK, as a method of disseminating information about how the ever-evolving AC service works, it must surely be the very worst medium for communication since the printing press was invented. It's not as though the written instruction is not available. Andrew writes here eloquently and lucidly. But no one has the discipline to take Andrew's nuggets of intelligence and structure them into a set of pages of (updated and maintained) instructions. I am amazed that the tedium of Chris and Andrew having to repeat the same advice ad nuseum is not enough to spur them to find a writer to spend a few hours a week to do some collation and editing into a content management system.
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markdirac
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Post by markdirac on Jan 7, 2016 20:24:05 GMT
chris , I remember you musing some time ago (soon after the QAA was launched and found itself quickly inundated with DART money) that there might be a role for a slightly less "QA" account carrying a slightly higher rate. Are the Great British Business Account and the Green Energy Investment Account not just this? Higher rates with less liquidity?
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markdirac
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Post by markdirac on Jul 6, 2015 18:23:08 GMT
Thanks Steve, and welcome.
Could you post the insurance policy please? Or make it available on your website?
(I would be surprised if this violated posting policy - this thread exudes healthily constructive & collaborative openness.)
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markdirac
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Post by markdirac on Jul 2, 2015 18:54:10 GMT
I received an email today notifying that this borrower has not been repaying for some months. I am amazed that this has been going on for months, yet AC has not notified lenders. There are no notifications on the loan's web page. The repayments page shows repayments are up to date. But the repayments to lenders have been being made - on time - by AC drawing from an interest buffer. So how could a lender know that repayments by the borrower had dried up, unless AC tells us?
Problems such as defaults are to be expected. But I am disappointed and annoyed that the AC procedures seem to have hidden this from us. Have I interpreted correctly please?
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markdirac
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Post by markdirac on Jun 17, 2015 18:45:42 GMT
The loan to the insulation people seems to have been pulled from the website. Why? What have I missed? The only mildly controversial thing I last observed was some criticism of the broker for not having obtained some answers to obvious questions prior to listing.
?
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markdirac
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Post by markdirac on Jun 14, 2015 19:49:41 GMT
It was the same insurance company being used at ReBS.
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markdirac
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Post by markdirac on Jun 13, 2015 13:37:44 GMT
The broker gave us the website address of the insurer, and I took a look. - The insurance is far from 100%, starting at 50% I recall and increasing over several years to 90%, I recall. (I'm being lazy, I ought to go back to the website and give you reliable numbers.)
- The Ts&Cs are not available, and so we cannot know under what circumstances the insurer may or may not pay out.
- Sounds to me too much like a too-good-to-be-true magic bullet to making lending, er, bullet-proof.
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markdirac
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Post by markdirac on May 18, 2015 20:34:10 GMT
Plus .. there's an increasing amount of not-constructive whinging and scaremongering, compounded by unhelpful, meaningless thread titles.
For example, the mushroom-grower pays reliably late each and every month. He cannily leaves payment until the last minute, because his contract with ReBS allows him to. And he's taciturn. But the resulting reams and reams of Q&A comments would put off any purchaser.
I reckon we're seeing more of this to an extent which correlates with the "plummeting" secondary market volumes?
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markdirac
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Post by markdirac on Apr 27, 2015 20:51:28 GMT
Bad luck / bad timing for C***** H** healthcare. I reckon that when their loan request says that the Thin Cats "platform is very busy at the moment", they are referring to the fact that TC are switching over to the ReBS White Label software sometime soon.
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markdirac
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Post by markdirac on Apr 27, 2015 20:19:45 GMT
I wonder if anyone can anyone suggest why there is such enthusiastic support for the video maker? His loan parts are still selling, easily, and at a decent premium. Whereas other borrowers in a similar position - Mr. Mushroom - will not sell, and borrowers in a better position - the SIPP provider, who has been up-front about his difficulties, is not selling either - and not unsurprisingly. But the video maker surprises me.
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