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Post by capricorn on Sept 6, 2018 23:37:03 GMT
Aside from rates, my main concern is whether AC will be able to maintain a good level of due diligence on new loans (and then monitor them) as the numbers increase, especially if they will have more smaller loans. They'll need a lot of new staff who know what they are doing for the model they operate. I'm invested mainly in P2P rather than the stock market for what I hope will be a much lower level of volatility. Rates significantly above inflation with losses low enough to keep them there works for me. Then it's a question whether my MLA return ends up beating the GBBA rate to make the time I spend reading credit reports worthwhile.
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Post by stuartassetzcapital on Sept 7, 2018 6:07:22 GMT
We have around 100 staff and are investing in more highly experienced team members and systems as each month goes by. You have a very valid question and we are continually addressing it and seeking to be better.
We were thinking of running an investor open day (an in house version of what we used to run occasionally) at some point to show people around our offices, talk with teams, see what we we are doing and put faces and names to departments - would be interested if this is of interest and numbers - maybe a new thread shortly ...
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Post by danielbird193 on Sept 7, 2018 7:54:34 GMT
We have around 100 staff and are investing in more highly experienced team members and systems as each month goes by. You have a very valid question and we are continually addressing it and seeking to be better. We were thinking of running an investor open day (an in house version of what we used to run occasionally) at some point to show people around our offices, talk with teams, see what we we are doing and put faces and names to departments - would be interested if this is of interest and numbers - maybe a new thread shortly ... Would definitely be of interest to me (depending on date and location).
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rookey123
Member of DD Central
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Post by rookey123 on Sept 7, 2018 9:05:38 GMT
me too
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cb25
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Post by cb25 on Sept 7, 2018 10:34:50 GMT
Much as I welcome increased lending and really do hope AC are successful (because that'll mean we are as lenders), I think AC are lucky that it's only borrower confidentiality that stops the running sores of loans 437-440 and 227 being discussed in the press.
I suspect lenders' views on AC depend quite a bit on how much they've got in those loans. Myself - luckily none in 437-440, but £5500 in 227 (where AC, imo, are doing everything they possibly can to avoid demanding repayment despite having done so on many other loans).
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Post by capricorn on Sept 7, 2018 14:27:57 GMT
Yes - I'd welcome an investor open-day, depending on location.
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Post by brightspark on Sept 7, 2018 16:32:40 GMT
Much as I welcome increased lending and really do hope AC are successful (because that'll mean we are as lenders), I think AC are lucky that it's only borrower confidentiality that stops the running sores of loans 437-440 and 227 being discussed in the press.
I suspect lenders' views on AC depend quite a bit on how much they've got in those loans. Myself - luckily none in 437-440, but £5500 in 227 (where AC, imo, are doing everything they possibly can to avoid demanding repayment despite having done so on many other loans). Could not agree more. My whole relationship with GBBA was soured by a very rapid auto investment in 227 which prompted me almost immediately to as far as possible close down that account to block any further horrors. I have trundled along with MLIA with no major concerns so far. My one big anxiety is that if the platform is prepared to provide its lenders with loans of the quality of 437-440 and 227 then it could cheerfully make other moves that might in a worst case cause the platform to fail. How much proportionately therefore of my savings do I need to diversify not only within the platform but also between platforms even though my inclination is to stick with AC? Collateral's demise was for me a mere! £3k wake-up call which I would not wish to see repeated here as I would be a tad out of pocket. I wonder how other lenders deal with this conundrum?
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cb25
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Post by cb25 on Sept 11, 2018 16:45:07 GMT
Much as I welcome increased lending and really do hope AC are successful (because that'll mean we are as lenders), I think AC are lucky that it's only borrower confidentiality that stops the running sores of loans 437-440 and 227 being discussed in the press.
I suspect lenders' views on AC depend quite a bit on how much they've got in those loans. Myself - luckily none in 437-440, but £5500 in 227 (where AC, imo, are doing everything they possibly can to avoid demanding repayment despite having done so on many other loans). Could not agree more. My whole relationship with GBBA was soured by a very rapid auto investment in 227 which prompted me almost immediately to as far as possible close down that account to block any further horrors. I have trundled along with MLIA with no major concerns so far. My one big anxiety is that if the platform is prepared to provide its lenders with loans of the quality of 437-440 and 227 then it could cheerfully make other moves that might in a worst case cause the platform to fail. How much proportionately therefore of my savings do I need to diversify not only within the platform but also between platforms even though my inclination is to stick with AC? Collateral's demise was for me a mere! £3k wake-up call which I would not wish to see repeated here as I would be a tad out of pocket. I wonder how other lenders deal with this conundrum? Looks as though AC might (I stress 'might') be remembering their duty to treat Lenders fairly re loan 227: p2pindependentforum.com/thread/11078?page=16&scrollTo=287260
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lara
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Post by lara on Sept 11, 2018 17:02:17 GMT
You should probably edit out that link cb25, it identifies the loan by name.
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cb25
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Post by cb25 on Sept 11, 2018 17:27:08 GMT
You should probably edit out that link cb25, it identifies the loan by name. Oops, sorry about that, was unintentional, appears dan1 has corrected it - thanks.
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Post by dan1 on Sept 11, 2018 17:59:11 GMT
You should probably edit out that link cb25, it identifies the loan by name. Oops, sorry about that, was unintentional, appears dan1 has corrected it - thanks.
No worries. By the way, the thread title in the link is superfluous so I could remove it and the link still works.
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lara
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Post by lara on Sept 11, 2018 18:12:33 GMT
You should probably edit out that link cb25, it identifies the loan by name. Oops, sorry about that, was unintentional, appears dan1 has corrected it - thanks.
Super!
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alibaba
Member of DD Central
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Post by alibaba on Sept 12, 2018 15:12:56 GMT
Could not agree more. My whole relationship with GBBA was soured by a very rapid auto investment in 227 which prompted me almost immediately to as far as possible close down that account to block any further horrors. I have trundled along with MLIA with no major concerns so far. My one big anxiety is that if the platform is prepared to provide its lenders with loans of the quality of 437-440 and 227 then it could cheerfully make other moves that might in a worst case cause the platform to fail. How much proportionately therefore of my savings do I need to diversify not only within the platform but also between platforms even though my inclination is to stick with AC? Collateral's demise was for me a mere! £3k wake-up call which I would not wish to see repeated here as I would be a tad out of pocket. I wonder how other lenders deal with this conundrum? Looks as though AC might (I stress 'might') be remembering their duty to treat Lenders fairly re loan 227: p2pindependentforum.com/thread/11078?page=16&scrollTo=287260
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alibaba
Member of DD Central
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Post by alibaba on Sept 12, 2018 15:22:28 GMT
My sentiments exactly, when I first invested with AC I was horrified to see that they had invested 19k of my money from the GBBA1 into this one loan plus 9k in the three related loans in the GAA account, it will take years for me to recover from their investment decision, I would rather they called in the loans and cut my losses but again their decision. I can see that they have learnt from their mistakes by closing the GAA and replacing GBBA1 with GBBA2, but this does not help.
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cb25
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Post by cb25 on Sept 12, 2018 16:02:02 GMT
My sentiments exactly, when I first invested with AC I was horrified to see that they had invested 19k of my money from the GBBA1 into this one loan .. Ouch !
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