liso
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Post by liso on Jan 25, 2019 15:42:28 GMT
Proplend is the obvious alternative at the moment Am I correct in thinking there's a minimum of £1000 per loan? (from www.proplend.com/invest/investor-faqs/ "In order to participate in an ‘In Funding’ (new) loan, you will be required to have a minimum of £1,000 in your Proplend client account as loan investments are made in multiples of £1,000")
If so, too high for me.
You're correct. Minimum investment is £1,000.
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IFISAcava
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Post by IFISAcava on Jan 25, 2019 16:38:00 GMT
Proplend is the obvious alternative at the moment Am I correct in thinking there's a minimum of £1000 per loan? (from www.proplend.com/invest/investor-faqs/ "In order to participate in an ‘In Funding’ (new) loan, you will be required to have a minimum of £1,000 in your Proplend client account as loan investments are made in multiples of £1,000")
If so, too high for me.
Yes, usually £1000, occasionally higher for the very largest loans. So yes only really sensible in terms of risk diversification for larger P2P investors with decent 6 figures sums to spread around.
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Post by hammertime on Jan 25, 2019 16:47:52 GMT
I have started withdrawing funds now.I am keeping some in the better accounts but i can feel its going a bit like F/C.But not as bad, so far so good.You need to keep on your toes though .
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Post by df on Jan 25, 2019 21:36:54 GMT
I have been with AC for a while and the Interest Rate drop was something I mentioned last year when we had a reply (from Stuart I think) giving the reasons and their thinking behind it.
At the time I was leaving LendInvest as they too were going from 10% towards 4.5% and it is blatantly obvious that AC are going this way. The newcomers to AC probably want the safety of the 30D acc and the property back account which is great but I have always been an MLIA guy.
I am not actively leaving, just keeping my balance as there are other platforms offering 8%+ plus other ways to make 8% online.
Shame, but market forces and a whole raft of other reasons are pushing the rates down.
Currently I have 59.4% in MLA, 22.5% in 30-day and the rest is in old GBBA and Green. During the past year or so it was shifting from MLA towards 30-day. This is because of lower rates. I don't go manual for anything below 7% (unless at discount that brings it up to 7%), I'd rather get 5.1% with less risk than 6% without PF protection. I've tried PSA with very small amount when it was launched to see if diversification is adequate, but it was no different from Great&Green accounts so I quickly withdrew (still have 3p locked in 227). I don't think PSA is offering any more safety than GEA and GBBA. It is offering lower rates, probably because it is believed that anything secured on property is safer than other assets??? Never mind that vast majority of AC loans are secured on property anyway. Strangely enough, I had many of the same holdings in PSA and GBAA, the only difference were the rates 
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Post by dobbo on Jan 25, 2019 22:39:36 GMT
I'm not sure if I should change the different funds I'm invested into if the manual loans don't offer the same protection but rates are going down.
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blender
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Post by blender on Jan 25, 2019 22:47:59 GMT
I'm not sure if I should change the different funds I'm invested into if he manual loans don't offer the same protection but rates are going down. Yeah! Wot 'e sed! 
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mjc
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Post by mjc on Jan 26, 2019 19:18:33 GMT
I have been with AC for a while and the Interest Rate drop was something I mentioned last year when we had a reply (from Stuart I think) giving the reasons and their thinking behind it.
At the time I was leaving LendInvest as they too were going from 10% towards 4.5% and it is blatantly obvious that AC are going this way. The newcomers to AC probably want the safety of the 30D acc and the property back account which is great but I have always been an MLIA guy.
I am not actively leaving, just keeping my balance as there are other platforms offering 8%+ plus other ways to make 8% online.
Shame, but market forces and a whole raft of other reasons are pushing the rates down.
Currently I have 59.4% in MLA, 22.5% in 30-day and the rest is in old GBBA and Green. During the past year or so it was shifting from MLA towards 30-day. This is because of lower rates. I don't go manual for anything below 7% (unless at discount that brings it up to 7%), I'd rather get 5.1% with less risk than 6% without PF protection. I've tried PSA with very small amount when it was launched to see if diversification is adequate, but it was no different from Great&Green accounts so I quickly withdrew (still have 3p locked in 227). I don't think PSA is offering any more safety than GEA and GBBA. It is offering lower rates, probably because it is believed that anything secured on property is safer than other assets??? Never mind that vast majority of AC loans are secured on property anyway. Strangely enough, I had many of the same holdings in PSA and GBAA, the only difference were the rates Not been with AC long, put 1k in GBBA, PSA and MLA. Got £15.61, £17.80 and £22.50, roughly as expected. (In IFISA.) Redeemed the interest 2 days ago, GBBA and PSA cashed in within 24 hours, but PSA still not sold. Does it take long to be realised? (now upped that to £10k invested in each) Also wondered why the interest on the Standard MLA is so much higher than the IFISA MLA, anyone help?
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Post by df on Jan 26, 2019 20:49:50 GMT
Currently I have 59.4% in MLA, 22.5% in 30-day and the rest is in old GBBA and Green. During the past year or so it was shifting from MLA towards 30-day. This is because of lower rates. I don't go manual for anything below 7% (unless at discount that brings it up to 7%), I'd rather get 5.1% with less risk than 6% without PF protection. I've tried PSA with very small amount when it was launched to see if diversification is adequate, but it was no different from Great&Green accounts so I quickly withdrew (still have 3p locked in 227). I don't think PSA is offering any more safety than GEA and GBBA. It is offering lower rates, probably because it is believed that anything secured on property is safer than other assets??? Never mind that vast majority of AC loans are secured on property anyway. Strangely enough, I had many of the same holdings in PSA and GBAA, the only difference were the rates Not been with AC long, put 1k in GBBA, PSA and MLA. Got £15.61, £17.80 and £22.50, roughly as expected. (In IFISA.) Redeemed the interest 2 days ago, GBBA and PSA cashed in within 24 hours, but PSA still not sold. Does it take long to be realised? (now upped that to £10k invested in each) Also wondered why the interest on the Standard MLA is so much higher than the IFISA MLA, anyone help? Did you mean MLA still not sold? In my experience MLA investments are generally take longer to sell at par than automated accounts. Some of mine took as long as 2 months. Interest shouldn't be different. In MLA it will depend on what loans you're investing and how well they perform, not on whether it is IFISA or standard.
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mjc
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Post by mjc on Jan 26, 2019 21:27:36 GMT
Yes MLA not sold, but only selling the last 4 month’s interest on £1k to see how quickly it sells, (assuming a larger amount might sell about the same, under normal market conditions). Not worried if it takes a couple of months, but for 7.09% if it takes weeks to sell, I’ll stick to 5.1% on 30d, or GBBA at 6.25% both with the PF. (Shows 13 loans at £4.5 - £101, and 6 - 9.5%)
All the other rates are the same for Standard and IFISA a/c except the MLA which for some reason I don’t understand is 1.66% more in the Standard than the IFISA.
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Post by Ace on Jan 26, 2019 23:47:13 GMT
... All the other rates are the same for Standard and IFISA a/c except the MLA which for some reason I don’t understand is 1.66% more in the Standard than the IFISA. Hi mjc, can you give an example of a loan number where you've seen a different rate between the Standard MLA and IFISA MLA for a particular loan. I've had over a hundred loans in both Standard and IFISA MLA and the rates have always been identical.
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mjc
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Post by mjc on Jan 27, 2019 7:04:02 GMT
Thanks Ace, I haven’t compared indidual loans. However on the dashboard the silver block for each shows;- Standard account; MANUAL LENDING ACCOUNT £0.00 Total Investment 8.76% Avg On the IFISA; MANUAL LENDING ACCOUNT £1,022.50 Total Investment 7.09% Current Rate so yes it may be the loans I selected giving a lower than average rate (I don’t even recall selecting the individual loans) I put a modest amount in each a/c so if money gets locked up in bad loans it would not be a worry. The other account rates are identical of course. |
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Post by Ace on Jan 27, 2019 9:19:45 GMT
This shows that you haven't invested in the Standard MLA. The rate there is meaningless. Could be the average of the whole loan book, but looks a bit high for that to me. Regardless, it's not relevant to you as you don't have any investments in that account.
The only way to invest in the MLA is to manually select loans to invest in. It shows that the overall capital weighted average rate of the loans that you selected is 7.09%.
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corto
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Post by corto on Jan 27, 2019 10:01:23 GMT
Yes MLA not sold, but only selling the last 4 month’s interest on £1k to see how quickly it sells, (assuming a larger amount might sell about the same, under normal market conditions). Not worried if it takes a couple of months, but for 7.09% if it takes weeks to sell, I’ll stick to 5.1% on 30d, or GBBA at 6.25% both with the PF. (Shows 13 loans at £4.5 - £101, and 6 - 9.5%) What do you mean by "selling only the interest"? If the interest paid it stays in the MLA until you either move it out (no need to sell) or reinvest it into loans. How fast loans sell depends on demand. Sometimes it's hours, sometimes months. If you sell the right loans they will sell quickly. Slightly unrelated, but maybe of interest: I sold out GBBA and PSA 5th December. Ca 80% of GBBA sold the same day and it's down to <1% now. PA sold 40% first day and another 20 the second; 9% are still unsold. None of the remaining loans is suspended, some not even monitored.
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Post by hammertime on Jan 27, 2019 10:03:27 GMT
I sold £30000 in the MLA within 24 hours you must have some dodgy loans if you cant sell them.
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mjc
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Post by mjc on Jan 27, 2019 10:14:04 GMT
Yes MLA not sold, but only selling the last 4 month’s interest on £1k to see how quickly it sells, (assuming a larger amount might sell about the same, under normal market conditions). Not worried if it takes a couple of months, but for 7.09% if it takes weeks to sell, I’ll stick to 5.1% on 30d, or GBBA at 6.25% both with the PF. (Shows 13 loans at £4.5 - £101, and 6 - 9.5%) What do you mean by "selling only the interest"? If the interest paid it stays in the MLA until you either move it out (no need to sell) or reinvest it into loans. How fast loans sell depends on demand. Sometimes it's hours, sometimes months. If you sell the right loans they will sell quickly. Slightly unrelated, but maybe of interest: I sold out GBBA and PSA 5th December. Ca 80% of GBBA sold the same day and it's down to <1% now. PA sold 40% first day and another 20 the second; 9% are still unsold. None of the remaining loans is suspended, some not even monitored. I put in £1k 4 months ago, that showed £1022.50 on Thursday, so I withdrew £22.50 and nothing changed within 24hours, so was that just un-invested cash? The PSA & GBBA both withdrew the increased value within 24hrs, which I was impressed with, if that’s any indication of how easy it is to realise cash on the non-QAA/30d accounts. That was the purpose of the little exercise.
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