Odd things with GEIA | P2P Independent Forum

dermot
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Odd things with GEIA Oct 4, 2017 19:42:58 GMT

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Post by dermot on Oct 4, 2017 19:42:58 GMT

Just had a few quid snapped up on GEIA (these days, I usually just keep a tenner or so waiting there) and tried to top it up again:

DUE TO HIGH DEMAND FOR ACCESS INTO THIS ACCOUNT, IT MAY TAKE LONGER THAN NORMAL BEFORE YOUR DEPOSIT IS SUCCESSFULLY INVESTED

I know Green has been very slow recently, but hadn't realised it was bad enough to need a warning.

In fact, the entire Assetz site seems to be sluggish - I keep getting a 504 gateway timeout whenever I try and do anything.

Last Edit: Oct 4, 2017 19:47:39 GMT by dermot

mrclondon
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Odd things with GEIA Oct 5, 2017 14:36:20 GMT sqh likes this

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Post by mrclondon on Oct 5, 2017 14:36:20 GMT

I suspect the redemption of quite a number of the Wind Turbine loans that are owned by same parent group is now imminent (one, possibly two, of them repaid on Funding Knight this morning). That parent group has been negotiating to sell their portfolio of WT's for months now.

When it happens it will knock a pretty big hole in GEIA with many fewer eligible loans, and lots of surplus cash.

EDIT: All the WT SPV's from this group with loans on AC, FK and Relendex have had their registered addresses changed at companies house in the last 48 hours, and some have had director resignations/appointments so it looks fairly conclusive the sale process is currently completing the legal steps.

Last Edit: Oct 5, 2017 15:20:03 GMT by mrclondon

Disclosure: I'm a shareholder in Assetz Capital Limited

SteveT
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Odd things with GEIA Oct 5, 2017 15:41:09 GMT

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Post by SteveT on Oct 5, 2017 15:41:09 GMT

Oct 5, 2017 14:36:20 GMT mrclondon said:

EDIT: All the WT SPV's from this group with loans on AC, FK and Relendex have had their registered addresses changed at companies house in the last 48 hours, and some have had director resignations/appointments so it looks fairly conclusive the sale process is currently completing the legal steps.

That's a minor tragedy. 30% of my remaining AC lending is in Burnley, Cumbria and Swansea!