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Post by jvbrad on Apr 13, 2018 9:59:00 GMT
I've just received an email to vote on a loan - I don't hold any of that particular loan in MLIA, only GBBA1 and 30DAA, so it seems that it isn't just MLIA who can vote Dandy.
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amphoria
Member of DD Central
Posts: 156 
Likes: 124
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Post by amphoria on Apr 13, 2018 10:53:10 GMT
MLA, GBBA, PSA and GEA holders all get a vote. 30DAA and QAA holders do not. This is based on recent votes where I only have holdings in the 30DAA/QAA and have not received a vote.
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,332
Likes: 789
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Post by angrysaveruk on Apr 13, 2018 11:54:32 GMT
angrysaveruk That is our position too. We are categorically an alternative (to high street banks) lender and taking an increased default risk is absolutely how we generate lender coupons of around 8% gross and borrower rates of c 9% versus high street banks lending at c 3-4%. We instead focus on minimising losses if a default occurs and we have a robust but considered recovery process. High street banks are here for the ‘foundation’ capital for the country’s SME businesses but have pulled out around £35bn in just the last few years and really moved away from funding higher risk (of default) lending which unfortunately where many of the entrepreneurial and growth / employment generating businesses are. Alternative finance is the ‘growth’ capital that supports GDP growth and it has more noise than simplistic lending behind the 1% savings accounts at banks. We employ a growing team of highly experienced credit professionals and independent AltFiData.com market data analysis shows our net of losses returns of c25% cumulative over the last 3 years which is clearly attractive to many people. We now focus solely on property security backed loans and have also been tightening our defaulted loan status triggers which will absolutely mean more loans have a defaulted status than may have had before (and certainly more aggressively than many other platforms) but also this may mean some come back to normal trading from a default status if the borrowers rectify matters (which is not common elsewhere). The yield that we generate for investors has all of this factored in and if you aren’t comfortable with defaults and our recovery process and skill then perhaps p2p isn’t for you or one of the simpler access accounts may be preferable. Nonetheless we believe that P2P has a transparency and return that is well worth considering as part of a balanced portfolio and we will continue to support retail investors to the level of their demand before introducing institutional capital. I hope this helps and thank you for your support for what is now coming to five years of successful trading. Thanks for your reply. I totally agree that to earn 7% you have to take some risk, but that risk has to have some purpose for it not to be pure casino style gambling. The reason I got into P2P in the first place is I saw it as an opportunity to earn a return by risking default on loans to circumvent the massive overheads of running a traditional bank (regulation, capital requirements, overheads etc etc) in order to make loans. I think what AC does serves an important economic purpose allowing people to use their assets (property) to fund business projects. So far I have found investing with AC a lot more interesting than with the personal loan P2P platforms I focused on before - I also get the feeling I am putting my money to good use.
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