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Post by loadsamoney on Jun 18, 2018 3:26:29 GMT
I am new here (in the sense of being a registered participant), but I have lurked often in the past, and found this board to be a source of useful information. With respect to AC, I take particular note of their active participation here, which itself has answered many of my queries before I raised them directly. Stuff like that I tend to find reassuring.
I have noticed in recent times a marked decline in SM liquidity, but I haven't seen any posts here related to it. A couple of months ago I shifted a significant number of loan parts in a couple of days (without resorting to discounting); now there seems to be no movement at all, even with some experimental discounting (which I am not keen to adopt generally).
I have raised a query with AC on a number of points, but I was just interested to know whether others here have had a similar experience? I'm thinking particularly of the GBBA2.
It isn't a massive issue immediately, but more about forward planning.
Could it be, I wonder, that the rate rise on the QAA has tempted investors into more liquid (!) waters?
Thanks
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shuff27
Member of DD Central
Posts: 90
Likes: 100
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Post by shuff27 on Jun 18, 2018 7:49:35 GMT
I tried buying into 5 loans on the SM about 3 months ago. Despite all of them showing plenty available, uptil last week I had only been allocated between 1% and 5% of each. So I gave up and moved the funds back to my AC 30 day account.
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ceejay
Posts: 975 
Likes: 1,149
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Post by ceejay on Jun 18, 2018 10:00:20 GMT
... A couple of months ago I shifted a significant number of loan parts in a couple of days (without resorting to discounting); now there seems to be no movement at all, even with some experimental discounting (which I am not keen to adopt generally). I have raised a query with AC on a number of points, but I was just interested to know whether others here have had a similar experience? I'm thinking particularly of the GBBA2. ... Puzzled by the combination of comments: if you're in GBBA2 you can't sell specific loan parts, you can only ask to sell all or part of your GBBA2 holding, and the system then decides (and may rebalance itself afterwards).
My experience of GBBA2 is very limited: I tried it, decided I didn't like it, and then cashed in - got all my cash back almost immediately apart from one small chunk which was delayed as the loan had become temporarily distressed.
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ceejay
Posts: 975
Likes: 1,149
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Post by ceejay on Jun 18, 2018 10:02:46 GMT
I tried buying into 5 loans on the SM about 3 months ago. Despite all of them showing plenty available, uptil last week I had only been allocated between 1% and 5% of each. So I gave up and moved the funds back to my AC 30 day account. Something odd here: if there is availability, and you have funds available in your MLA account, then you WILL buy - maybe not immediately, hours is the norm. If that didn't happen for you then there is/was something broken and you should have enquired. The most common problem in this regard is, I think, people not having made sufficient funds available in MLA (as opposed to cash).
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Post by loadsamoney on Jun 18, 2018 10:58:40 GMT
Thanks, ceejay.
I guess I sound like I'm stupid?! But I'm not. And this is exactly what I must have done last time.
In my defence, I'm confused by the terminology 'Withdraw', as opposed to 'Sell'. I assumed one could only withdraw money awaiting investment. Equally, from GBBA2, if I go into an individual loan I get a page listing all my holdings in all accounts and an option to instruct sales - no mention that it only applies to some of the accounts listed. And it will accept instructions to sell, say, £200 when only the GBBA2 has any investment in it.
Curiouser and curiouser. So many accounts, so many different models, websites, rules, terminologies.
So, I've set it to withdraw X amount and we'll see how quick it goes. ... quite quickly, apparently ... doh!
Off for a lie down now!
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walktall7
Member of DD Central
Posts: 184
Likes: 35
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Post by walktall7 on Jun 18, 2018 14:36:58 GMT
I have made stupid mistakes on p2p websites and I have been on different platforms since 2013. Assetz's website has changed dramatically since 2014 and each time it changes I have had to learn how to work within the site. Recently it sometimes get stuck and even if you have jumped through all the right hoops it does not always buy things when you you have money in the right place. So at the moment it very hard to learn the system. Members of this forum will help you. Currently I cannot get a tax report for last year but we keep getting told big improvements are coming.
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