Various Loan Updates (Assetz Capital)

#241

"Funds have been received to repay this loan in full.

These should be transferred to lenders' accounts as soon as possible."

Accrued interest on this loan did not increase overnight!

That must be c4m repaid this month so far (ignoring amortisation). Given that much cash looking for a home, the high levels of loans on offer elsewhere are even more 'notable'.


edit: this also shows one of the strengths of the QAA. I've had loans repaid today in Geia, GBBA and mlia and more about to repay. I've gone from almost zero to a four figure sum uninvested in the last day or so, but I'm not moving money off the platform as it's still earning me something, two of the accounts will probably reinvest without me doing something and the targets I have for mlia loans keep buying bits and pieces. If it stays high uninvested for a while I'll move the money, but the QAA buys AC some time and therefore prevents the costs of processing the withdrawal. Obviously they only get so long, but I expect it will be reinvested before I get too bored with it where it is.

I know what you mean it's like losing an old friend

#197 repaid, (2 days interest lost) dropping like flies these double digit return loans

Looking at the upcoming list it appears that AC now regards 8% as the top rate (mostly), and we should make do with nearer 7%.

Too much risk for 7% and not enough reward (when inflation is now at near 3%).

It's probably a ploy to make us all think it's not worth doing MLIA at 7% taking the risk, when we can do GBBA etc 7% with provision fund (whatever that is worth).
And what would be next? "Very few people are using MLIA these days so we are withdrawing it forthwith due to lack of demand! Lenders will no longer be able to select individual loans. Welcome to the NEW AC LENDING EXPERIENCE."




Edit: We've just been advised of a loan, 72% LTV on the valuation (we all know what that might mean!), and we are offered 5.5%. Tax off that and I get 4.4% (others may get just 3.3%), with inflation at c3%, I'm afraid a 1.4% actual reward for lending my money, and take the risk, is just not adequate.
AC has gone too far with the "lower risk/lower rate" theory. I'd rather game the stock market.

edit 20:42 I see Ratesetter 5 year has been hovering over 6% again. Up to 6.5% tomorrow maybe*? With provision fund, which pays out as soon as repayments are late, still.

* edit: Yes, my repayments went out again at about 17:25 at 6.5%

I have been in the MLIA almost since it's inception and I now find it impossible to keep my six figure sum (declining) invested. As a small shareholder I hope AC are successful but 7% loans to "dodgy" businesses does not make sense. There will be the inevitable losses and I do not see any improvement in the quality of loans so my account will continue to decline.
I have no doubt that AC management believe they are on the right track for them and wish them every success but it is not for me.