IFISAcava
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Post by IFISAcava on Jan 27, 2019 11:47:09 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. The PSA loans will often be lower interest rates and therefore in less demand by MLA investors.
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Post by hammertime on Jan 27, 2019 11:57:56 GMT
This is investing its not meant to be easy thats why the interest rates are higher .
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ceejay
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Post by ceejay on Jan 27, 2019 12:18:09 GMT
I sold £30000 in the MLA within 24 hours you must have some dodgy loans if you cant sell them. Not necessarily dodgy.
I initiated a sell of multiple loans in an MLA account because I was shifting money from Standard to ISA. I found that the speed of sale varied enormously. Obviously those where demand exceeded supply went more or less immediately (within 24 hours).
There were a lot of loans where there is a backlog on offer - basically anything showing availability. These sold more slowly, at varying rates. Some were gone within days, others dribbled out over weeks.
I have a couple left where I have sold essentially none, months later. They're not dodgy - no missed payments, no adverse comments. I'm not being undercut by discounters. They're just very, very slow to shift. These are, as you'd expect, the lower interest rate ones.
I'm not unduly bothered by this - I don't take on any loans that I'm not prepared to see through to the end if necessary. But don't imagine that *any* loan on MLA can always be sold quickly, this is not the case.
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IFISAcava
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Post by IFISAcava on Jan 27, 2019 13:55:22 GMT
I sold £30000 in the MLA within 24 hours you must have some dodgy loans if you cant sell them. Not necessarily dodgy.
I initiated a sell of multiple loans in an MLA account because I was shifting money from Standard to ISA. I found that the speed of sale varied enormously. Obviously those where demand exceeded supply went more or less immediately (within 24 hours).
There were a lot of loans where there is a backlog on offer - basically anything showing availability. These sold more slowly, at varying rates. Some were gone within days, others dribbled out over weeks.
I have a couple left where I have sold essentially none, months later. They're not dodgy - no missed payments, no adverse comments. I'm not being undercut by discounters. They're just very, very slow to shift. These are, as you'd expect, the lower interest rate ones.
I'm not unduly bothered by this - I don't take on any loans that I'm not prepared to see through to the end if necessary. But don't imagine that *any* loan on MLA can always be sold quickly, this is not the case.
If you really want it more quickly, you can always sell at a 1% discount - that's the beauty of the MLA vs the black box accounts. As long as you have held for at least a few months you will still have made a decent return.
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corto
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Post by corto on Jan 27, 2019 14:49:58 GMT
If you invested 1k and got 22.x£ in interest on the MLE the interest should be available right away as interest or repayments are not automatically reinvested in that account unless you set-up buy orders. Are you sure you did not set up buy-orders?
Any withdrawal request can only be served if there is liquid (uninvested) money on your account. The AC main page shows your uninvested funds for the MLE. If there aren't any you have to wait for paybacks on amortising loans or interest payments, or you have to set up sell orders by hand and wait until someone buys your stuff. If you bought loans that are not in much demand it can take a while to sell them. You can speed that up by selling at a discount, however, unless you need the money or urgently want to get out of a loan there isn't much of a point in doing that.
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Post by hammertime on Jan 27, 2019 14:58:21 GMT
Not necessarily dodgy.
I initiated a sell of multiple loans in an MLA account because I was shifting money from Standard to ISA. I found that the speed of sale varied enormously. Obviously those where demand exceeded supply went more or less immediately (within 24 hours).
There were a lot of loans where there is a backlog on offer - basically anything showing availability. These sold more slowly, at varying rates. Some were gone within days, others dribbled out over weeks.
I have a couple left where I have sold essentially none, months later. They're not dodgy - no missed payments, no adverse comments. I'm not being undercut by discounters. They're just very, very slow to shift. These are, as you'd expect, the lower interest rate ones.
I'm not unduly bothered by this - I don't take on any loans that I'm not prepared to see through to the end if necessary. But don't imagine that *any* loan on MLA can always be sold quickly, this is not the case.
If you really want it more quickly, you can always sell at a 1% discount - that's the beauty of the MLA vs the black box accounts. As long as you have held for at least a few months you will still have made a decent return.
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Post by hammertime on Jan 27, 2019 14:59:28 GMT
Get a life
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ceejay
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Post by ceejay on Jan 27, 2019 16:37:51 GMT
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mjc
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Post by mjc on Jan 27, 2019 16:42:28 GMT
If you invested 1k and got 22.x£ in interest on the MLE the interest should be available right away as interest or repayments are not automatically reinvested in that account unless you set-up buy orders. Are you sure you did not set up buy-orders? Any withdrawal request can only be served if there is liquid (uninvested) money on your account. The AC main page shows your uninvested funds for the MLE. If there aren't any you have to wait for paybacks on amortising loans or interest payments, or you have to set up sell orders by hand and wait until someone buys your stuff. If you bought loans that are not in much demand it can take a while to sell them. You can speed that up by selling at a discount, however, unless you need the money or urgently want to get out of a loan there isn't much of a point in doing that. Many thanks for this corto and ceejay yes it is set to automatically reinvest. I’m in no hurry at all to sell, - wanted to understand better how it worked. I think I’ll stick to the ‘easier to shift’ other AC accounts, and I’m happy to pay for the PF. But I do think the option for with/without PF is good. Still don’t understand why I’m showing 1.66% less in the IFISA MLA than the Standard MLA. All the more reason to stick with the 6.25% for the GBBA, and the 30d, simple and fairly safe. Each to their own.
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ceejay
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Post by ceejay on Jan 27, 2019 17:02:50 GMT
Many thanks for this corto and ceejay yes it is set to automatically reinvest. I’m in no hurry at all to sell, - wanted to understand better how it worked. I think I’ll stick to the ‘easier to shift’ other AC accounts, and I’m happy to pay for the PF. But I do think the option for with/without PF is good. Still don’t understand why I’m showing 1.66% less in the IFISA MLA than the Standard MLA. All the more reason to stick with the 6.25% for the GBBA, and the 30d, simple and fairly safe. Each to their own. As Ace pointed out upthread, your Standard MLA % is meaningless as you have zero in it. My guess is that the figure shown is some sort of platform average, though the number seems a bit high. But in any case there is no comparison to be made with your IFISA MLA %.
On another point, just to be clear, when you talk about "easier to shift" I trust that you are referring to the 30DAA and NOT the GBBA ... the latter has pretty much the same offloading issues as the MLA, except that you can't (as pointed out recently by @ifisacava) jump the queue by discounting if you're in a hurry.
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Post by hammertime on Jan 27, 2019 18:31:59 GMT
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Post by hammertime on Jan 27, 2019 18:33:06 GMT
I dont think you have a clue about investing
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corto
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Post by corto on Jan 27, 2019 19:40:35 GMT
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Post by df on Jan 27, 2019 21:47:33 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. The purpose of MLA is that you can manually select the loans and the amount you put in in each loan. If you just assign money to the account, it will earn you either nothing or 4.1% (if you set it to sweep into QAA).
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mjc
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Post by mjc on Jan 27, 2019 22:10:46 GMT
It was, and is set to re-invest all (into MLA), and is giving the expected higher MLA rate. I have lots in the QAA and 30d, nothing in cash. So all I hear confirms that a modest amount in GBBA suits my purpose but not imv worth the longer exit and lack of PF for a mere 3/4% extra. For me!
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