ashtondav
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Post by ashtondav on May 20, 2018 17:32:15 GMT
Capital loss, or capital plus interest. A two year recovery process is not unusual, so does the PF cover any capital AND interest.
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happy
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Post by happy on May 20, 2018 18:15:22 GMT
Capital loss, or capital plus interest. A two year recovery process is not unusual, so does the PF cover any capital AND interest. Capital loss only is what I understand according to the AC PF FAQs
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ashtondav
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Post by ashtondav on May 20, 2018 18:40:50 GMT
OK. Not good news for the GBBA 1 or 2 holders, then. I’ll stick to instant and 30 day and MLA, thanks. A PF that operates like that needs very good diversification.
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debaura
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Post by debaura on May 20, 2018 19:42:21 GMT
Same here with GBBA! seems deceptive
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happy
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Post by happy on May 20, 2018 20:26:43 GMT
OK. Not good news for the GBBA 1 or 2 holders, then. I’ll stick to instant and 30 day and MLA, thanks. A PF that operates like that needs very good diversification. To be honest with the recent increases in the access account rates together with the better diversification and the liquidity buffer they look the best overall risk/return bet of the automated accounts. Having said that I believe the GBBA2 diversification will improve significantly as it grows and matures to hold more and more loans. Current maximum single loan holding is below 7% with the next highest at 3.75% which is a coutry mile better than we were seeing only a few months ago and probably acceptable for smaller holding (sub £10k or so). I'm keeping a watching brief before I invest any more and I'm keeping all my other non-MLA holdings in the access accounts.
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jlend
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Post by jlend on Jun 8, 2018 15:05:01 GMT
Is the amount of money in the PF for the Green Energy account published anywhere on the website?
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jlend
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Post by jlend on Jun 12, 2018 19:41:47 GMT
116,000.00 in GEIA PF 799,000.00 in GBBA1 PF
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Post by crabbyoldgit on Jun 12, 2018 22:16:46 GMT
116,000.00 in GEIA PF 799,000.00 in GBBA1 PF should the ggba 6million scottish estate or the geia northen irish wind mills go very bad is there enough funds to cover the possible losses in the respective pf funds.
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ashtondav
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Post by ashtondav on Jun 13, 2018 7:17:33 GMT
116,000.00 in GEIA PF 799,000.00 in GBBA1 PF should the ggba 6million scottish estate or the geia northen irish wind mills go very bad is there enough funds to cover the possible losses in the respective pf funds. It would appear not...
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jlend
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Post by jlend on Jun 13, 2018 7:44:55 GMT
116,000.00 in GEIA PF 799,000.00 in GBBA1 PF should the ggba 6million scottish estate or the geia northen irish wind mills go very bad is there enough funds to cover the possible losses in the respective pf funds. Could ask AC what is the total value of each of the defaulted loans in the geia and gbba1, and then make a rough assessment of the amount that the PFs may have to cover due to how much might be recovered for each loan at a point in time. I assume AC already do this either manually or automatically in the QAA or 30DAA as they ring fence some of the PF to cover defaulted loans, and these loans are also in the QAA and 30DAA. So should be possible to make a rough assessment at a point in time for the GEIA and GBBA
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Post by bikeman on Jun 19, 2018 18:40:16 GMT
Capital loss, or capital plus interest. A two year recovery process is not unusual, so does the PF cover any capital AND interest. Capital loss only is what I understand according to the AC PF FAQs In my experience AC doesn't even declare a default on loans where the borrower hasn't paid for well over 12 months. Can't declare a loss, communication stops and we get nothing form the PF. As for recovery, don't make me laugh, why would they bother since recovery would take them one step closer to dipping into that PF they bang on about but no one has ever got anything from. Yet still the suckers come - just offer them a 1% bonus and they line up. At some point AC will be forced to declare their losses and you watch how fast they freeze those funds in the QAA and 30DAA.
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k6
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Post by k6 on Jun 19, 2018 19:48:33 GMT
Capital loss only is what I understand according to the AC PF FAQs In my experience AC doesn't even declare a default on loans where the borrower hasn't paid for well over 12 months. Can't declare a loss, communication stops and we get nothing form the PF. As for recovery, don't make me laugh, why would they bother since recovery would take them one step closer to dipping into that PF they bang on about but no one has ever got anything from. Yet still the suckers come - just offer them a 1% bonus and they line up. At some point AC will be forced to declare their losses and you watch how fast they freeze those funds in the QAA and 30DAA.
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k6
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Post by k6 on Jun 19, 2018 19:50:01 GMT
The FCA should be the one to implement a requirement that after a certain amount of time without payment from borrower the loan must be declared as default if one wishes to be a platform with an FCA status, then a platform will be more kin to chase borrower for payments to lower number of defaulted loans and possibly avoid negative reviews ?, just a though.
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Post by stuartassetzcapital on Jun 21, 2018 8:24:10 GMT
Capital loss only is what I understand according to the AC PF FAQs In my experience AC doesn't even declare a default on loans where the borrower hasn't paid for well over 12 months. Can't declare a loss, communication stops and we get nothing form the PF. As for recovery, don't make me laugh, why would they bother since recovery would take them one step closer to dipping into that PF they bang on about but no one has ever got anything from. Yet still the suckers come - just offer them a 1% bonus and they line up. At some point AC will be forced to declare their losses and you watch how fast they freeze those funds in the QAA and 30DAA. This is highly misleading to readers. If you wish to make these statements please can you give precise and current examples. Our loan status and default policy is quite probably the tightest in the industry and well defined on our website.
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Post by stuartassetzcapital on Jun 21, 2018 8:27:05 GMT
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