niceguy37
Member of DD Central
Posts: 504 
Likes: 254
|
Post by niceguy37 on Oct 22, 2014 11:39:22 GMT
no doubt the system is accurate and fair, but buying in 1p portions is a little silly. Perhaps a minimum of £1 allocations with a queuing system would be more sensible? Or in £10 allocations, spread randomly among the interested lenders. Less than £10 is not worth the bother, and is financially insignificant, and just generates massive volumes of transactions to scroll through.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Oct 22, 2014 11:49:13 GMT
I am happy for any size of transaction. Below £0.01 would be okay. But maybe there should be an aggregate view so that all transactions with the same price and within a certain period of time, perhaps 24 hours, are summed together.
|
|
shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
|
Post by shimself on Oct 22, 2014 13:35:22 GMT
I am happy for any size of transaction. Below £0.01 would be okay. But maybe there should be an aggregate view so that all transactions with the same price and within a certain period of time, perhaps 24 hours. You're not kidding, I have 126 transactions adding up to £100, it's not readable.
|
|
|
|
Post by Ton ⓉⓞⓃ on Oct 22, 2014 15:04:41 GMT
Originally Sl75's idea for this thread was not really discussion but a resource for learners & Lenders, almost a FAQ. As I'm sure everyone appreciates we don't want to keep re-reading the other thread with 21+pages to find answers.
I'll be going back through my posts here and using the delete button if it's not in this spirit of this thread OR simlpy moving it to a more appropriate thread.
|
|
|
|
Post by batchoy on Oct 23, 2014 10:39:30 GMT
How do I do something as simple as buying loan units without the Manual Auto Investor potentially topping up my holdings each time a repayment is made or I add funds to my Manual Loan Account?
If you want to do something as simple and reasonable as buying loans and managing them in the way that you want as you could pre-upgrade it has become a horrendously complex and time consuming process:
Step One: Turn off automatic reinvestment of income by setting the Manual Lending Account (MLA) to 'Withdraw repayments and interest'.
Step Two: Make a note of the time, then check every single loan in your loan book to ensure that the Manual Auto Investment (MAI) target is set where you want it to be. i.e. equal to your holding if you don't want to buy more, and greater than your holding if you want to buy more. You will need a calculator for this as any adjustments have to be entered as an adjustment not the end target. At the same time keep a tally of the increases and any existing differences between the MAI Target and current holding where the MAI Target is Higher than the current holding so that you know how much you will need to add funds to your MLA.
Step Three: Go to the loan book and make the appropriate adjustments to the MAI targets for the loans that you wish to make first time purchases of. Again keep a tally and add it to the total from Step Two, now subtract the Awaiting Investment total for the MLA if this total is positive then this is the amount of funds that will be need to be added to the MLA.
Step Four: Check the Statements for the MLA and Cash Account to ensure no capital repayments have been made to your account since you started Step Two, if there have repeat Step Two for the loan(s) that made repayments
Step Five: If there are insufficient funds in your CA to cover the increased requirement in the MLA transfer go to Step Eight, if there are sufficient funds transfer then from the CA to the MLA and wait for the process to happen.
Step Six: Regularly monitor to your statements until all the univested cash in the MLA has been used up, any repayments of capital will require the MAI Target for the repaying loan to be adjusted down by the amount of the repayment in order to prevent MAI purchases. If the MAI has made a purchase of parts in the repaying loan between the repayment coming in and the adjustment of the MAI target you will need to transfer funds equivalent to the value of the MAI purchase from your CA to your MLA.
Step Seven: Congratulations if you have reached this point you will have successful purchased the loan parts you wanted.
Step Eight: Initiate the transfer funds from your bank and wait (several days) for the funds to arrive in your CA.
Step Nine: Once the funds arrive go to Step Two.
Each time you want to make a new set of purchases or sales start the process at Step Two.
NB: Never undo Step One otherwise you could find yourself increasing your holding of loans that you don't want to increase your holds of.
Note I have not fully tested the process but this is how I believe the simple purchase of parts in a new loan works from the work I have done so far, and I am refining the process as I work it through.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Oct 23, 2014 11:17:54 GMT
How do I do something as simple as buying loan units without the Manual Auto Investor potentially topping up my holdings each time a repayment is made or I add funds to my Manual Loan Account?... Note I have not fully tested the process but this is how I believe the simple purchase of parts in a new loan works from the work I have done so far. [Without actually trying to follow it, as I think you're making it intentionally complicated to make a point!], the process can be simplified somewhat... In particular, to the right of the "On Repayment" setting that you adjust in step 1, there is a "Total Target Investment", so there's no need to keep a separate tally - simply ensure you have the "Total Investment" equal to the "Total Target Investment" by the end of the process.
|
|
|
|
Post by batchoy on Oct 23, 2014 11:31:39 GMT
How do I do something as simple as buying loan units without the Manual Auto Investor potentially topping up my holdings each time a repayment is made or I add funds to my Manual Loan Account?... Note I have not fully tested the process but this is how I believe the simple purchase of parts in a new loan works from the work I have done so far. [Without actually trying to follow it, as I think you're making it intentionally complicated to make a point!], the process can be simplified somewhat... In particular, to the right of the "On Repayment" setting that you adjust in step 1, there is a "Total Target Investment", so there's no need to keep a separate tally - simply ensure you have the "Total Investment" equal to the "Total Target Investment" by the end of the process. Please run it through to check it, Yes I am making a point but I don't believe I am overcomplicating it if I simply want ensure that I buy and hold loans without the MAI topping up my holdings all the time and I have no ability to turn the MAI off.
|
|
unmadem
Member of DD Central
Posts: 377
Likes: 181
|
Post by unmadem on Oct 23, 2014 11:46:14 GMT
How do I export my loan book to Excel ? Under the Loan Book/Your Loans menu option you cannot perform an export. However if you go to Browse Loans menu option and set the filter to "loans I am invested in" it is possible. What is not immediately obvious is that the "export as csv" button is at the bottom of the screen.
This export option is available for other of the filter criteria.
At the moment of writing the export does not include the loan number/id and only has the loan title which is a bit of an oversight but hopefully will be addressed shortly.
|
|
|
|
Post by Jack Barlow on Oct 23, 2014 16:12:49 GMT
How do I export my loan book to Excel ? Under the Loan Book/Your Loans menu option you cannot perform an export. However if you go to Browse Loans menu option and set the filter to "loans I am invested in" it is possible. What is not immediately obvious is that the "export as csv" button is at the bottom of the screen.
This export option is available for other of the filter criteria.
At the moment of writing the export does not include the loan number/id and only has the loan title which is a bit of an oversight but hopefully will be addressed shortly. BUT the download doesn't tell you: i) which account your loans are held in (this will cause problems when we have loans in multiple accounts and want to reconcile the loan data with our statements), or ii) include the loans which you've completely sold but still owe accrued interest. Item ii) can potentially be worked around by selecting "Show all current loans" instead of "loans I am invested in" using the filter, though of course you then get a more unwieldy list of all the loans, and I haven't yet been able to confirm that this does indeed list the accrued interest for the sold loans - mine currently show zero but I'm hoping that might be an artefact of AC's ongoing accrued interest correction exercise. Is anyone able to confirm from their data?
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Oct 23, 2014 20:10:49 GMT
How do I export my loan book to Excel ? Under the Loan Book/Your Loans menu option you cannot perform an export. However if you go to Browse Loans menu option and set the filter to "loans I am invested in" it is possible. What is not immediately obvious is that the "export as csv" button is at the bottom of the screen.
This export option is available for other of the filter criteria.
At the moment of writing the export does not include the loan number/id and only has the loan title which is a bit of an oversight but hopefully will be addressed shortly. BUT the download doesn't tell you: i) which account your loans are held in (this will cause problems when we have loans in multiple accounts and want to reconcile the loan data with our statements), or ii) include the loans which you've completely sold but still owe accrued interest. Item ii) can potentially be worked around by selecting "Show all current loans" instead of "loans I am invested in" using the filter, though of course you then get a more unwieldy list of all the loans, and I haven't yet been able to confirm that this does indeed list the accrued interest for the sold loans - mine currently show zero but I'm hoping that might be an artefact of AC's ongoing accrued interest correction exercise. Is anyone able to confirm from their data? Presuming that when the accrued interest problems are solved the number shown will include the interest accrued on units you've sold, another possible workaround might be to never let your holding of those loans go to zero. Setting a target of 1p should allow the sale of effectively all of your holding but still retain the loan on the list of Your Loans. However, I really don't like that messy solution. It would be so much better if the inclusion of a loan on the list of Your Loans was triggered by having some accrued interest as well as the current triggers of having a non-zero Holding or Target.
|
|
|
|
Post by Jack Barlow on Oct 23, 2014 20:14:58 GMT
It would be so much better if the inclusion of a loan on the list of Your Loans was triggered by having some accrued interest as well as the current triggers of having a non-zero Holding or Target. I think that might happen naturally as a result of the accrued interest calculation process that's currently in progress, based on the contents of chris's post on that process.
|
|
|
|
Post by Ton ⓉⓞⓃ on Oct 24, 2014 13:30:19 GMT
Does the new system show accrued interest on sold loans that have not yet paid backDoes the new system show accrued interest on sold loans that have not yet paid back (e.g. H****ey)? It does, but only if the loan repayment plan is correct in the system. Whilst the new loan model is in place and supports FF for example, the admin team are yet to update the loan to correctly reflect its current state. I know this is high up on their radar so should be correct in a couple of working days time, but in the interim the system can only report based on the data its been given. Where the data is complete it should be accurate including all historical sales. At time of writing individual loans in your own loan book may only show a few days accrued interest, but the Grand Total on your Dashboard should be correct within the parameters mentioned in the quotes above. The individual loan accruals should be corrected soon. And; Thanks, Chris. But where is accrued interest on sold loans shown? I can pull up H***ney as a sold loan but nowhere does it indicate what interest I had accrued prior to it being sold and that is still unpaid until the loan itself is repaid. Perplexing. It's in the total on the dashboard and in the totals shown where you still hold some loan units. For loans where you no longer hold any units you can't see the broken down figure yet, this will come early next week but was more involved for the front end guys as they need to restructure a couple of queries. And again, Meanwhile, if you're desperate to see your unpaid accrued interest broken down for your completely sold loans now, you can do so via Loan Book > Browse Loans, filter on "Show all current loans" (which is the default) then click on the "Export as CSV" button at the bottom of the page. The information is in the downloaded file.
|
|
|
|
Post by Ton ⓉⓞⓃ on Oct 24, 2014 16:39:39 GMT
It seems no longer possible to sell or buy at a discount. Also how do you say what rate your buying on reverse auctioned loans?It seems no longer possible to sell or buy at a discount. Also how do you say what rate your buying on reverse auctioned loans? The reverse auctioned loans aren't really supported any more as support for that type of auction has been removed from the rest of the site. They're still there and repayments have been made to work with them, but it was felt it was counter productive to clutter the user interface or build additional controls just to support those two historic loans. Loan units can still be bought and sold but allocation will be random rather than targeting the loan units with the highest or lowest rates when buying or selling. Selling at a discount will be making a return next week. It was consciously removed for launch to reduce complexity and confusion in the interface with all the other changes being made. Next week has passed and no sign of markdown yet. It is now hoped that Markdown will return in the next few weeks, Nov. is targeted but not guaranteed.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,868
Likes: 11,097
|
Post by ilmoro on Oct 27, 2014 7:48:33 GMT
What's the minimum amount I can invest in a loan?
There is no minimum but you must have at least £1 in your MLIA for the system to make purchases, even though these purchases can be a little as 1p.
|
|
acorn
Posts: 118
Likes: 23
|
Post by acorn on Oct 27, 2014 9:34:36 GMT
I have 56p stranded in my MLIA and £7.57 in my cash account that I am unable to move to MLIA, presumably because it is less than £20. The only options I am given are to transfer in to, or out from, a bank account. I have been watching the transition to the new website and was expecting H*****y to roll over for re-investment so haven't added any more funds yet.....looking forward to finally being able to play.
|
|
