SteveT
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Post by SteveT on Dec 2, 2017 13:40:58 GMT
the loan i wanted to invest went through 6 hours later. The other loan which had been showing sufficient availability invested 1% of what was shown to be available. So it seems the availability information is very inaccurate which is a pain when trying to see what is worth spending time on doing due diligence. What is the total net instruction? I have a buy order for 460 but 1000 in the manual loans cash account. Shouldnt the net instruction take account of the 1000 cash rather than just show 460? the customer service email said that the net instruction should decrease as cash is deposited but this does not seem to be the case. If £10,000 of a loan becomes available and 100 lenders all want at least £100 then they’ll all get 1% of it. Your total orders at any point in time can far exceed the cash in your account. As the cash runs down, just top it up if you want to keep buying stuff as it becomes available. I tend to keep £500 or so as a cash balance, but have orders running on 30+ loans that total £5,000+
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kermie
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Post by kermie on Dec 2, 2017 14:13:15 GMT
From memory, the net instruction is just the sum of all outstanding buy and sell orders, and is not related to the available funds. I don't normally pay much attention to that because I have many "buy" instructions which are unlikely to ever be completely satisifed because the loans are very popular - but I set them in case I can pick up small amounts here and there. As SteveT suggests, just set buy orders against what you want, irrespective of what cash you have available, and wait. Periodically top-up when funds run low. Over time it's actually remarkably easy to become very well diversed nowadays. |
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Post by crabbyoldgit on Dec 2, 2017 15:12:50 GMT
Feeling a little anti the universe once evening and wondering if some bean counter at AC towers was looking at the total requested demand for loan parts unfulfilled as some measure of possible demand from lenders and hence where to set interest rates. I sank a few bananna punches and upped the level of my requests on loans i wanted to the total ourstanding ballance of the entire loan! In the cold light of morning i corrected them back , my requests probably were for more than my total worth and probably the rest of the street as well.
Nothing against AC ,they were just a convenient target at the time.
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greeb
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Post by greeb on Dec 2, 2017 23:04:58 GMT
Thanks for the info guys. It all ties in with my experience. AC needs to get its customer service agents better trained because they have very confidently fed me twice with incorrect info. Thank goodness for this forum - p2p lending would be so much more difficult and risky without it.
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markb
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Post by markb on Dec 3, 2017 13:16:19 GMT
The net instruction does decrease as the request is satisfied, e.g. if you request to buy £100 and the system subsequently manages to buy £20, then your instruction automatically changes to "buy £80".
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markb
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Post by markb on Dec 3, 2017 13:22:26 GMT
Feeling a little anti the universe once evening and wondering if some bean counter at AC towers was looking at the total requested demand for loan parts unfulfilled as some measure of possible demand from lenders and hence where to set interest rates. I sank a few bananna punches and upped the level of my requests on loans i wanted to the total ourstanding ballance of the entire loan! What?! Why would you want to try to encourage AC to lower the interest rates that they pay lenders?
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Post by crabbyoldgit on Dec 3, 2017 19:39:40 GMT
Rational logical thought and banana punch are mutualy exclusive in all circumstances
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msenanna
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Post by msenanna on Dec 3, 2017 19:53:36 GMT
If £10,000 of a loan becomes available and 100 lenders all want at least £100 then they’ll all get 1% of it. Your total orders at any point in time can far exceed the cash in your account. As the cash runs down, just top it up if you want to keep buying stuff as it becomes available. I tend to keep £500 or so as a cash balance, but have orders running on 30+ loans that total £5,000+ Thank you! Your explanation and example of your £500 made everything everyone else was saying make perfect sense. As a result I spent yesterday afternoon going through part of the loan book putting in a good number of bids even though I currently don't have that much cash in Assetz.
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sarahcount
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Post by sarahcount on Dec 15, 2017 22:55:34 GMT
I'm new to AC and while the DD and info on loans seems excellent I'm finding the slow SM impossible to comprehend.
I've put quite a few small bids on loans which have availability but they are just stuck as 'buying' and have been so for a few days.
Take a look at Ly, MT, COLL, ABL, FS, even LI and their markets are all completely instantaneous. You hit the buy key and you know immediately if you have been successful. Know where you are. Know where your money is.
For the sake of diversification I'll stick with it for a while but I'm really surprised that AC appear to be so far behind their competitors in this regard.
Reading this thread it seems that it is deliberately not real time to give everyone a chance of a slice and to avoid FFF situations. It just looks broken though.
I was thinking that this would be a platform with medium risk and requiring only moderate time investment so may have to limit my financial and time exposure here to avoid going completely mad.
I'm used to being all over the 12% platforms, as you need to be, and happy to let lower rate passive platforms do their stuff without my needing to get involved but AC MLA seems to fall between the two with lower rates but still requiring time spent to DD and try to keep track of where the money's going.
Sarah
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trouble
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Post by trouble on Dec 15, 2017 23:26:53 GMT
Sarah
How you moved your cash from your cash account into your MLIA account?
If you haven't then your buy instructions are unfunded.
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Post by lusitania on Dec 16, 2017 4:50:19 GMT
Sarah How you moved your cash from your cash account into your MLIA account? If you haven't then your buy instructions are unfunded. Although the above advice is valid, I'm afraid my orders on several loans with current availability have also been stuck for 2 days even with cash in the MLIA...
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dave2
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Post by dave2 on Dec 16, 2017 4:59:16 GMT
Secondary market has been stuck for me for 40 hours, since my last purchase at 13:07 on Thursday the 14th. During this time I have received interest payments and principal repayments, but have had no buy/sell on the secondary market. I have several thousand pounds "awaiting investment" on my MLIA account, and there is availability for several of my instructed loans. I am getting bored!  |
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Post by crabbyoldgit on Dec 16, 2017 5:00:41 GMT
Agreed 3 buy orders with available funds and units for sell, one for over 24hrs not processed. Boot of Chris please.
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trevor
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Post by trevor on Dec 16, 2017 10:12:59 GMT
Likewise, 3 buy instructions have been ignored
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jonah
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Post by jonah on Dec 16, 2017 10:29:30 GMT
As per the thread title... the cogs here do get gummed up from time to time. Tagging chris in case he happens to be around. The other route in office hours is to drop AC an email, phone call or web chat. Not great I agree. I suspect in the medium term (q1 next year according to posts on here) the cogs will be replaced with shiny new, free spinning ones which won’t fall over as often (or never!). Until then, I agree it can be frustrating. Personally though, I only look at AC once a day and treat all orders a fire and forget. Add in sweeping into the QAA and at least your getting something in return I suppose. |
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