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Post by stuartassetzcapital on Oct 31, 2018 8:54:59 GMT
We couldn’t compliantly say ‘whichever is the soonest’ ! That’s the reason. We’ve kept the cap tight at £10m as it’s our biggest ever bonus % but then we’re the biggest we have ever been. Hi Stuart. How secure is Assetzcapital looking these days, is it in profit for example? My concern is that this looks really attractive, and encourages people (or me) toward less diversification in P2P. This seems to be a big raise, and I'd be interested to see how that will be invested. Are you still focussing on business loans rather than property? I'm only in the access accounts so I tend not to see the spread of individual loans. thanks. We only lend on business loans with property security nowadays. We have been profitable for the last two financial years and even with huge funding of growth this year (see our Tech Track 100 growth award recently) we still expect an approximate breakeven after exceptional costs this year. We have around 100 people and a very substantial infrastructure.
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blender
Member of DD Central
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Post by blender on Oct 31, 2018 9:41:27 GMT
The offer has been good enough to tempt me to migrate my 'auto' cash away from FC into a new Assetz account, after many years. Two things I like (apart from the offers) are the secured loans compared with FC unsecured, and the choice of account types to suit the lender. No problem with registration. I sent some more cash by bank transfer on Sunday, and was surprised to find that by the end of Sunday I had it invested in the GBBA2!
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jeremy12
Member of DD Central
Everything's frozen
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Post by jeremy12 on Oct 31, 2018 9:55:22 GMT
I wonder what's going to happen to the underlying rate before bonus during the offer period.
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blender
Member of DD Central
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Post by blender on Oct 31, 2018 10:23:16 GMT
I wonder what's going to happen to the underlying rate before bonus during the offer period. A valid point. It will depend on market conditions and my reckoning was that Assetz would have to follow rather than lead. Whereas that bigboy FC has raised it's cash by IPO, and now there will be little to stop its leading the p2p market rate down in order to grow its book with consumer-lenders for a lending 'bank'.
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rscal
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Post by rscal on Oct 31, 2018 18:47:56 GMT
Optimising funds deposited to 31st October
I had my QAA, 30DAA, PSA and GBBA2 instructions set to withdraw interest and reinvest principal to the respective accounts. This ensures the cashback qualifying balance does not reduce on any of those accounts. But with the MLA any principal payments will collect in the account even where reinvestment to the account is stipulated. (I suppose this is a question as much as a statement) Thus I've set the principal payments to the MLa to go to the QAA. That way I can make sure the funds DO remain invested continuously and so avoid inadvertantly bringing down my cashback value. [The question if anyone knows is: do funds in the MLA set to 'reinvest'' in the absense of an instruction to invest in further loans qualify as 'invested' in terms of the Offer or not?] So I'm just being cautious.
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p2pete
Member of DD Central
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Post by p2pete on Oct 31, 2018 19:04:39 GMT
Just set your QAA to sweep everything, then everything is permanently invested regardless of which account it's in.
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wysiati
Member of DD Central
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Post by wysiati on Oct 31, 2018 19:55:22 GMT
Just set your QAA to sweep everything, then everything is permanently invested regardless of which account it's in. One possible note of caution; I have experienced funds indirectly in the QAA via the sweep function apparently ending up back in the QAA queue and not being currently invested (total invested figure dropped) for a period when moving funds from MLIA to the Cash Account or the reverse. Possibly best not to fiddle until after the deadline?!
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Post by markaldrich on Oct 31, 2018 19:57:17 GMT
I was reassured by customer services this transfer would be fine and not effect bonus. Hope they are right!
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rscal
Posts: 985
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Post by rscal on Nov 1, 2018 7:43:00 GMT
Just set your QAA to sweep everything, then everything is permanently invested regardless of which account it's in. I do use the 'invest idle funds' feature now but I also want to be able to see my total interest receipts collected in one place - the cash account - and, in principle [not 'principal'!] I can still do that and preserve my balances because interest earned does NOT affect bonus and could be withdrawn. I have opted to move pricipal from MLIA to QAA as a compromise.
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Post by westcountryfunder on Nov 1, 2018 10:05:24 GMT
Just set your QAA to sweep everything, then everything is permanently invested regardless of which account it's in. I do use the 'invest idle funds' feature now but I also want to be able to see my total interest receipts collected in one place - the cash account - and, in principle [not 'principal'!] I can still do that and preserve my balances because interest earned does NOT affect bonus and could be withdrawn. I have opted to move pricipal from MLIA to QAA as a compromise. Ah! I digress. Someone after my own heart who know the difference between 'principal' and 'principle'. I've lost count of the number of times I have winced at the use of the wrong one typically in AC credit reports. Very odd that a financial company can make such elementary mistakes - not that AC is the only culprit. Something to do with spellcheckers, i suppose.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Nov 2, 2018 7:51:07 GMT
...Someone after my own heart who know the difference between 'principal' and 'principle'...Very odd that a financial company can make such elementary mistakes... As long as there illiteracy doesn't loose us any money... P.S. 
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lara
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Post by lara on Nov 2, 2018 7:55:44 GMT
...Someone after my own heart who know the difference between 'principal' and 'principle'...Very odd that a financial company can make such elementary mistakes... As long as there illiteracy doesn't loose us any money... P.S. I see what you did there! 
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Nov 2, 2018 10:46:03 GMT
Has anyone else seen their balance fall since yesterday? Mine has, everything was fully invested as far as I can tell, and automatically sweeping into QAA, which seem to be working, and nothing spanned midnight. chris? |
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Post by chris on Nov 2, 2018 10:49:37 GMT
Has anyone else seen their balance fall since yesterday? Mine has, everything was fully invested as far as I can tell, and automatically sweeping into QAA, which seem to be working, and nothing spanned midnight. chris ? Yeah I've noticed a drop - before the system was reporting the peak investment due to that being how the promotion initially working where there was the £10m cap, that was switched a couple of days ago to report both that peak and the current investment level. However there's been a drop overnight that we're investigating. It could be a problem in the overnight calculation that sums what people have invested or it could be a bug in the correct from a couple of days ago where it didn't reduce the amounts displayed to the correct levels, or it could be something else entirely. I'll report back once I know more.
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mjc
Member of DD Central
Posts: 342
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Post by mjc on Nov 2, 2018 12:10:53 GMT
Has anyone else seen their balance fall since yesterday? Mine has, everything was fully invested as far as I can tell, and automatically sweeping into QAA, which seem to be working, and nothing spanned midnight. chris ? Yeah I've noticed a drop - before the system was reporting the peak investment due to that being how the promotion initially working where there was the £10m cap, that was switched a couple of days ago to report both that peak and the current investment level. However there's been a drop overnight that we're investigating. It could be a problem in the overnight calculation that sums what people have invested or it could be a bug in the correct from a couple of days ago where it didn't reduce the amounts displayed to the correct levels, or it could be something else entirely. I'll report back once I know more. With some platforms I am on I would be very concerned by such a post, but with AC I have much more confidence, AND I appreciate the way the platform’s representatives actively engage. Thanks. on 31/10/18 I took a screen shot of balances and Xmas bonus. Today’s 30D and QAA IFISA figures has increased by £1.40 BUT the accrued interest has dropped by £1.18. This is minuscule compared to the sum now invested, but it might be a clue perhaps? PM if you want more info.
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