puddleduck
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Post by puddleduck on Jun 29, 2018 8:33:23 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447)
Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause.
I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it?
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mary
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Post by mary on Jun 29, 2018 8:53:32 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? Great idea. Would also need to be tied to a system change to eliminate these micro loan parts. A move to a minimum £1 per loan would be welcome.
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toast
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Post by toast on Jun 29, 2018 9:41:41 GMT
I think these femto-pence wouldn't amount to anything worthwhile even when pooled.
At the same time I'm worried that the fractions of a penny left in my non-IFISA account will one day yield a penny of interest that I fail to declare to HMRC. So I'd like some way to zero them out, just for peace of mind.
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IFISAcava
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Post by IFISAcava on Jun 29, 2018 9:58:35 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? Why can't you sell them? List a sale for a quid on all these and they and any accrued interest that comes in will eventually be sold, no? List it at a discount and it'll be sold even quicker. Also, there seems to be a lot of OCD going on here! I love the automated system and have no problem with that leaving <0.1ps around the place.
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Post by chris on Jun 29, 2018 10:36:30 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? Great idea. Would also need to be tied to a system change to eliminate these micro loan parts. A move to a minimum £1 per loan would be welcome. How does that work with capital repayments?
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mary
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Post by mary on Jun 29, 2018 10:51:08 GMT
Great idea. Would also need to be tied to a system change to eliminate these micro loan parts. A move to a minimum £1 per loan would be welcome. How does that work with capital repayments? I'm unsure of your point, but if, going forward all loan parts were multiples of £1, then all Capital repayments would also be the same, once all the micro parts had been eliminated, which would obviously take some time. RS now have a £10 minimum investment per loan.
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Post by chris on Jun 29, 2018 10:53:49 GMT
How does that work with capital repayments? I'm unsure of your point, but if, going forward all loan parts were multiples of £1, then all Capital repayments would also be the same, once all the micro parts had been eliminated, which would obviously take some time. RS now have a £10 minimum investment per loan. If you have a £1 investment and there is a 3.5p principal repayment on an amortising loan, what happens to the 3.5p? You would no longer be earning interest on your £1 but on £0.965, so what is displayed to lenders and what is available for you to sell on the aftermarket. If you can only sell £1 chunks then you end up being unable to sell your loan unit at all.
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cb25
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Post by cb25 on Jun 29, 2018 11:14:43 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? I'd rather AC stopped allocating ridiculously tiny fractions of a penny
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IFISAcava
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Post by IFISAcava on Jun 29, 2018 12:23:58 GMT
I think these femto-pence wouldn't amount to anything worthwhile even when pooled. At the same time I'm worried that the fractions of a penny left in my non-IFISA account will one day yield a penny of interest that I fail to declare to HMRC. So I'd like some way to zero them out, just for peace of mind. I presume that's tongue in cheek?
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 29, 2018 12:25:33 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? I'd rather AC stopped allocating ridiculously tiny fractions of a penny Why? That's the price of a fair allocation system. Much rather that than long sales queues or FFF systems.
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benaj
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Post by benaj on Jun 29, 2018 12:35:54 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? I have £3 invested in the GEA since late Dec'17. So far it has earned 9p interest, the smallest interest part is £1 x 10^(-10), or 0.00000001p.
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puddleduck
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Post by puddleduck on Jun 29, 2018 13:22:49 GMT
Many of us have commented on micro-loans that clutter our loanbook that will never pay interest, and cannot be sold. (http://p2pindependentforum.com/post/274447) Could Assetz consider pooling all these loans (on an opt-in basis) from lenders into a charitable pot? I think I can safety say no one will miss these sub 1p loans, but pooled together (especially if you can claim tax credits too), this could end up contributing to a life changing sum for a charity or other good cause. I'd love to be able to donate my sub 1< parts to this, and never see them in my loanbook again. Am I out of turn suggesting this on an opt-in basis and if there is a consensus for such a move, would Assetz consider implementing it? I have £3 invested in the GEA since late Dec'17. So far it has earned 9p interest, the smallest interest part is £1 x 10^(-10), or 0.00000001p.
You quoted me but haven't given your position - would you like to donate these? These can never be realized by individual investors, pooling these may produce something tangible to hopefully benefit someone / something else.
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mary
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Post by mary on Jun 29, 2018 13:44:45 GMT
I'm unsure of your point, but if, going forward all loan parts were multiples of £1, then all Capital repayments would also be the same, once all the micro parts had been eliminated, which would obviously take some time. RS now have a £10 minimum investment per loan. If you have a £1 investment and there is a 3.5p principal repayment on an amortising loan, what happens to the 3.5p? You would no longer be earning interest on your £1 but on £0.965, so what is displayed to lenders and what is available for you to sell on the aftermarket. If you can only sell £1 chunks then you end up being unable to sell your loan unit at all. Simple, you can sell a minimum of £1, unless you hold less, when you can sell that amount. You can only buy in increments of £1, so if yours is the only sale offer, you will have to wait until the amount on offer is >£1. The part principal repayment is held until you have at least £1, to buy again. I think the cash drag on (an average 50p) is not going to materially alter anyones returns.
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cb25
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Post by cb25 on Jun 29, 2018 13:51:27 GMT
If you have a £1 investment and there is a 3.5p principal repayment on an amortising loan, what happens to the 3.5p? You would no longer be earning interest on your £1 but on £0.965, so what is displayed to lenders and what is available for you to sell on the aftermarket. If you can only sell £1 chunks then you end up being unable to sell your loan unit at all. Simple, you can sell a minimum of £1, unless you hold less, when you can sell that amount. You can only buy in increments of £1, so if yours is the only sale offer, you will have to wait until the amount on offer is >£1. The part principal repayment is held until you have at least £1, to buy again. I think the cash drag on (an average 50p) is not going to materially alter anyones returns. What reported problem is this (whole £s) trying to solve ? I don't remember seeing anybody complaining about having loans of £s and pence (e.g. £47.52), only loans like 0.000001p
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Post by chris on Jun 29, 2018 13:54:43 GMT
If you have a £1 investment and there is a 3.5p principal repayment on an amortising loan, what happens to the 3.5p? You would no longer be earning interest on your £1 but on £0.965, so what is displayed to lenders and what is available for you to sell on the aftermarket. If you can only sell £1 chunks then you end up being unable to sell your loan unit at all. Simple, you can sell a minimum of £1, unless you hold less, when you can sell that amount. You can only buy in increments of £1, so if yours is the only sale offer, you will have to wait until the amount on offer is >£1. The part principal repayment is held until you have at least £1, to buy again. I think the cash drag on (an average 50p) is not going to materially alter anyones returns. So if you want to buy £1 and someone sells their last 1p to you, which they're allowed to do because they held less than £1, then are you not allowed to buy the other 99p to make it up to £1. What if you want to hold £1 and there's a capital repayment of 3.5p - should you not be allowed to invest back up to the £1 you wanted? An average of 50p per loan of cash drag isn't a huge amount if you have tens of thousands invested, but if you have £1,000 invested in 100 loans then that's 5% of your holdings not earning cash. There are efforts being made to reduce the number of small transactions that occur but the fairest way to look after the widest number of investors and their investment style is to stick with not having arbitrary limits on transaction sizes.
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