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Post by chris on Jun 21, 2016 13:44:09 GMT
I have been in AC for 3 years and have today made my first withdrawal - if I continue to be allocated £50 or £80 when I want £1000 then I can see lots more withdrawals coming up. It seems AC do not want MLIA lenders - they have already killed off underwriting opportunities and now the MLIA is in danger. It might be good for AC (and I am a small investor) but certainly not so for individuals who want to look after their own loans rather than being funnelled into the GBBA (the GEIA is already moribund). ...and (after several delays) just £55 allocation on #280 W-hotel. We (MLIA) now know which side our bread is buttered, but AC (despite continued "spin*" or even "churn!") can't produce the butter. * see the other thread. We need quite a few more loans to draw before anything is going to change. They're coming through now so things will start improving but there won't be an overnight fix. There's £2.5m expected to draw in the rest of this month plus £3.6m that could draw but we're not confident of it doing so in that time frame.
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Post by mrclondon on Jun 22, 2016 14:53:39 GMT
Updates on a whole batch of wind turbines (6 off) that the borrower is expecting the sale of the WT's to complete early July and the loans to be redeemed. c. £3.5m of loans if I've added it up correctly.
Which will kill the GEIA unless AC magic something up pretty quickly.
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oldgrumpy
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Post by oldgrumpy on Jun 22, 2016 15:30:59 GMT
Oh, well. Another big (for me) chunk of money coming back, and AC have almost nothing (what with two-figure allocations) worth-while to invest in (a situation that will not change until quite a few more loans are drawn down). And I've been hoarding those w-turbine loans because of the sub 9% offerings that AC deem appropriate for the current "climate".  How much #293 will we be offered? £20? I don't trust #282 at 8%. |
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Post by bracknellboy on Jun 22, 2016 15:48:08 GMT
That is a decent chunk of my MLIA holding. And probably of my rather smaller GEIA.
Yep, curtains for the GEIA I would think.
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kermie
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Post by kermie on Jun 22, 2016 17:30:22 GMT
Boo....I might even have to resort to paying off my July tax bill early. Shudder.
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oldgrumpy
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Post by oldgrumpy on Jun 22, 2016 17:32:29 GMT
Boo....I might even have to resort to paying off my July tax bill early. Shudder.  Oh, dear!! That's crossed my mind several times too in the last week or so!! Sad? (or wot?) 
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duck
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Post by duck on Jun 22, 2016 19:02:40 GMT
Boo....I might even have to resort to paying off my July tax bill early. Shudder. Oh, dear!! That's crossed my mind several times too in the last week or so!! Sad? (or wot?) Not as sad as the individual who paid his Corporation tax a month early and has already paid his personal tax bill!
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stevio
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Post by stevio on Jun 22, 2016 20:16:16 GMT
Not as sad as the individual who paid his Corporation tax a month early and has already paid his personal tax bill! Surely investing it till you have to pay it is better?
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duck
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Post by duck on Jun 23, 2016 4:58:01 GMT
Not as sad as the individual who paid his Corporation tax a month early and has already paid his personal tax bill! Surely investing it till you have to pay it is better? Yes but with some large repayments coming in and personal circumstances meaning I may not be around on the due dates .... better safe than sorry.
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Post by pepperpot on Jun 23, 2016 15:39:19 GMT
Just a point to note, the accountancy firm connected to #38 is consolidating it's 4 outstanding FC loans and seeking an additional c£150k. They have also moved up a band to 'A', FC loan no. is 23634.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jun 23, 2016 16:20:03 GMT
#162 showing 0% and due to be repaid this evening
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oldgrumpy
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Post by oldgrumpy on Jun 23, 2016 16:31:51 GMT
#162 showing 0% and due to be repaid this evening So yet another eight to twenty new drawn down loans (at allocation £20-£50) will be needed for me to reinvest my modest repayment.... on top of the recent ones, and the prospective larger wind turbine repayments in the next couple of weeks. Now, what to do ....  ermm...
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Post by pepperpot on Jun 23, 2016 16:43:49 GMT
#162 showing 0% and due to be repaid this evening So yet another eight to twenty new drawn down loans (at allocation £20-£50) will be needed for me to reinvest my modest repayment.... on top of the recent ones, and the prospective larger wind turbine repayments in the next couple of weeks. Now, what to do .... ermm... Buy Dollars...NOW! or beer.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jun 23, 2016 16:58:05 GMT
So yet another eight to twenty new drawn down loans (at allocation £20-£50) will be needed for me to reinvest my modest repayment.... on top of the recent ones, and the prospective larger wind turbine repayments in the next couple of weeks. Now, what to do .... ermm... Buy Dollars...NOW! or beer. Not so sure about the dollar, whilst markets have shown modest swings in line with a stay vote, the fat lady is nowhere near to warming up and the ride home on the London tube is to the noise of squeaky bums..... 
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Post by chris on Jun 23, 2016 21:38:58 GMT
#162 showing 0% and due to be repaid this evening I had an instruction on this loan to buy. As a result, between 17:25 and 19:23, I have bought £607 of a loan that pays 0%. It only stopped there presumably because that's all the cash I had. I thought I'd put in some targets to see if I can pick bits of loans that still pay 10% or more. Words cannot express how I feel about this. I really hope chris and AC are pi**ing themselves laughing because I'm not. You instructed the system to buy - it doesn't add any intelligence on top of that. The system is criticised if it doesn't buy when there's opportunity, as there could be an extension or a default with default interest and people want in, and now it's criticised when it does buy. On the buy orders you can specify an end date after which it won't buy any more. The system is only going to do what you instruct it to do.
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ermm...