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Post by lynnanthony on Jul 19, 2019 9:11:53 GMT
Out of interest, does anyone know why most (all?) interest only loans have three interest payments to our MLA accounts every month? The three payments (mostly) add up to the amount expected. It's not the end of the world but it is a minor irritant having to tot them up when I update my spreadsheet.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 19, 2019 10:33:07 GMT
Edit Ive got one with 30 separate interest payment entries which for a holding of 1p seems somewhat excessive 
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sl75
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Post by sl75 on Jul 19, 2019 11:50:17 GMT
I think it's intended to make it as difficult as possible for you to track what's going on...!
As I understand it, each interest payment represents a fixed interest rate on a fixed amount of money on a specified time range, so that your pro-rata share of THAT interest payment can be calculated based on the amount of money you had invested multiplied by the amount of time it was invested within the qualifying period, so if there are changes of interest rate, or changes in the principal balance (repayments or further advances, or sometimes both!), that defines a separate block of interest.
The secondary question is why they don't consolidate all the interest payments that are being paid at the same time (and similarly when loan parts are bought and sold, the many tiny transactions that add up to the amount requested all with the same time stamp) so that they only appear as a single statement entry... and for that the only answers I can come up with are the one in the first line of this reply, or simply that they don't see making their product "simpler" in this way as a high enough priority.
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trium
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Post by trium on Jul 23, 2019 15:44:57 GMT
Not very long ago I had a £100 'buy' order filled with 500 x 20p purchases. That takes up 10 statement pages and is effectively 'spam' making the download useless. Yesterday I sold 112 parts in #740, all at the same time and mostly for 0.0533809265413285271200000000000000120000 GBP. I also received 6 payments of interest on #839, albeit spread over 9 minutes.
I now have a little utility which recognises all these same date/same transaction type as multiple entries of the same thing and consolidates them into a single entry. It also strips out other useless information from the CSV download as well as condensing that stupidly long 'narrative' column and saves loads of space
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 23, 2019 23:34:56 GMT
Sold £25 in 1p chunks yesterday
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rscal
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Post by rscal on Jul 24, 2019 10:44:26 GMT
Not very long ago I had a £100 'buy' order filled with 500 x 20p purchases. That takes up 10 statement pages and is effectively 'spam' making the download useless. Yesterday I sold 112 parts in #740, all at the same time and mostly for 0.0533809265413285271200000000000000120000 GBP. I also received 6 payments of interest on #839, albeit spread over 9 minutes. I now have a little utility which recognises all these same date/same transaction type as multiple entries of the same thing and consolidates them into a single entry. It also strips out other useless information from the CSV download as well as condensing that stupidly long 'narrative' column and saves loads of space Is there any chance that AssetzCapital themsevles will address the screed issues? Anything has got to an improvement surely?
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trium
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Post by trium on Nov 8, 2019 2:08:18 GMT
Is there any chance that AssetzCapital themsevles will address the screed issues? Anything has got to an improvement surely? They don't appear to be listening. Meanwhile my statements for the last 7 days show >6000 transactions in MLA after I placed a half dozen sell orders. I also initiated the sale of my GBBA2/PSA holdings (only £100 in each) which has generated >5000 and >3700 transactions respectively. In short, my statements are so completely awash with thousands of miniscule transactions as to be completely and utterly useless since it's impossible to find anything.
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ceejay
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Post by ceejay on Nov 8, 2019 10:09:08 GMT
Is there any chance that AssetzCapital themsevles will address the screed issues? Anything has got to an improvement surely? They don't appear to be listening. Meanwhile my statements for the last 7 days show >6000 transactions in MLA after I placed a half dozen sell orders. I also initiated the sale of my GBBA2/PSA holdings (only £100 in each) which has generated >5000 and >3700 transactions respectively. In short, my statements are so completely awash with thousands of miniscule transactions as to be completely and utterly useless since it's impossible to find anything. Anyone would think that they'd rather we didn't manage our own portfolios and would buy into the packaged accounts instead?
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sl75
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Post by sl75 on Nov 8, 2019 10:35:44 GMT
They don't appear to be listening. Meanwhile my statements for the last 7 days show >6000 transactions in MLA after I placed a half dozen sell orders. I also initiated the sale of my GBBA2/PSA holdings (only £100 in each) which has generated >5000 and >3700 transactions respectively. In short, my statements are so completely awash with thousands of miniscule transactions as to be completely and utterly useless since it's impossible to find anything. Anyone would think that they'd rather we didn't manage our own portfolios and would buy into the packaged accounts instead? The "packaged accounts" still need willing buyers to take on the loans they no longer want.
Another (presumably round-robin) email yesterday telling MLA investors how many loans there are with units available to buy - presumably they think that highlighting this relatively poor liquidity for those selling loans is going to persuade manual investors to invest more?
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ceejay
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Post by ceejay on Nov 8, 2019 15:45:53 GMT
Anyone would think that they'd rather we didn't manage our own portfolios and would buy into the packaged accounts instead? The "packaged accounts" still need willing buyers to take on the loans they no longer want.
Another (presumably round-robin) email yesterday telling MLA investors how many loans there are with units available to buy - presumably they think that highlighting this relatively poor liquidity for those selling loans is going to persuade manual investors to invest more?
I don't agree that high availability necessarily implies poor liquidity: some of that availability is the Access accounts offering up stock if you want to buy it. As it happens I'm mostly selling my MLA holdings at the moment (not from some major confidence issue or anything like that, just a personal adjustment going on) and I'm finding that it's mostly pretty easy - you put a loan up for sale and most of them have gone within a week or so. Obviously there are some which are slower to shift, but I note that I'm not being undercut by loads of discounters, so I feel confident that if I ever did need to push on the accelerator then I could do that. It would only be an issue if you needed the money THIS WEEK, say, but that kind of money should never have been in any kind of P2P, still less the MLA.
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sl75
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Post by sl75 on Nov 10, 2019 22:16:16 GMT
I don't agree that high availability necessarily implies poor liquidity: some of that availability is the Access accounts offering up stock if you want to buy it. It's relatively poor liquidity compared to the other loans where there's often zero availability and anything put up for sale is likely to sell within a day or two.
If there's unsold loan units, it implies that all current buying demand has been fulfilled, so any substantial sales will need to wait for NEW buyers.
Where there's zero availability there will often be at least some unfulfilled buying demand meaning that any sales can occur as soon as that loan is next processed.
In something closer to "absolute" terms, a trickle of sales resulting in (say) an average of £10 of sales per seller per week of a particular loan would be experienced by one seller (who only has £10 of any single loan) as excellent liquidity, and by another (who has several thousand pound chunks of each loan) as terrible liquidity.
It's also not necessarily about how quickly sales actually progress, but about the buyer's perception of how quickly sales are progressing... if they see a 6-figure sum for sale of a loan which has remained available for months, then unless they're an AC "expert", they're likely to worry this means sales will be slow if they ever need to exit, so highlighting this may not necessarily have the desired effect.
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