merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 1, 2014 22:58:42 GMT
What is the purpose of this account? What is the MLIA Report actually showing? I seem to have lots of entries in this report that have no bearing on any instructions that I have given regarding buying or selling loans. Most entries are in small amounts, over 30 in the case of Spo**** Brid** for £1 but no apparent change to the amount in my loan account.
Can someone give me a steer, please?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 2, 2014 12:38:11 GMT
Try this 'Things you need to know about the new website' thread merlin : p2pindependentforum.com/post/25387/threadIt should cover most of what you need to know. The MLIA is where you set targets to buy or sell specific loans of your choosing and where you put the money to do so. At the moment, that's all there is, but in the near future there will start to be different fund options available, and they will each have their own accounts. |
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 2, 2014 12:58:23 GMT
Try this 'Things you need to know about the new website' thread merlin : p2pindependentforum.com/post/25387/threadIt should cover most of what you need to know. The MLIA is where you set targets to buy or sell specific loans of your choosing and where you put the money to do so. At the moment, that's all there is, but in the near future there will start to be different fund options available, and they will each have their own accounts. Yes I am aware of what you say but where are all the entries , nearly two pages of them, that I have not initiated like 32,£1 purchases for loans like Spon**n Brid** come from?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 2, 2014 13:44:32 GMT
If you had AI target amounts in the old system, but had all the buying options turned off, that might explain it - the target would have got carried through onto the new system, and at the moment all you can do is reduce it to your current holding if you don't want any more because until they bring in the change they are working on there isn't a way to turn off MI for a loan. Check your targets v your holdings. Alternatively, if the bits you are picking up are on amortising loans, then you might be being caught by the problem that they are currently working to sort out: that you will get your holding topped back up whether you want it to or not.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 2, 2014 13:56:35 GMT
I guessed there had to be something at the root of the problem like a bug but wondered if others were having the same problem. Thanks for responding RR.
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Post by Ton ⓉⓞⓃ on Nov 2, 2014 14:20:01 GMT
I guessed there had to be something at the root of the problem like a bug but wondered if others were having the same problem. Thanks for responding RR. Just to save chris from posting from Germany on his phone, I'll say it for him. IN EDIT But ramblin rose is right in what you have to do to negate it, I think chris said the file from the old system was transferred over incorrectly
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Nov 2, 2014 16:42:06 GMT
I guessed there had to be something at the root of the problem like a bug but wondered if others were having the same problem. Thanks for responding RR. Just to save chris from posting from Germany on his phone, I'll say it for him. IN EDIT But ramblin rose is right in what you have to do to negate it, I think chris said the file from the old system was transferred over incorrectly If the fault, bug or feature, call it what you will, is the fault of AC, then they should put it right. Frankly I do not care whether Chris is in Germany or on the dark side of the moon, it is my money that seems to be vanishing and someone at AC should get it sorted as a matter of urgency. I will personally contact AC tomorrow to ensure that they formally know there is a problem.
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shimself
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Post by shimself on Nov 2, 2014 17:26:44 GMT
I have balanced my targets and holdings perfectly, yet all the time there's another quid or two on some loan or another. I had assumed it was a bug which would be fixed, are you suggesting they are intending to leave it like that?
I think that to claim the correct action with an amortising loan is to buy new bits every time any of thje principal is paid off is plain wromg.
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jhma
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Post by jhma on Nov 2, 2014 17:46:35 GMT
I agree. Please AC do not automatically re-invest my funds in amortizing loans. When I invest in amortizing loans it is because I want my exposure to decrease over time.
I transferred a nice round sum to MI as a test only to come back later and find that some if it had been moved. No AI was set (I never used it) and I came to the conclusion after browsing the forum (thanks, posters...) that it must have been taken to top up amortizing loans. I checked all other obvious alternatives.
I did not have the time or inclination to delve around further to find out where it had gone. I moved the MI sum back out to the cash account and won't be putting any more in till I have control back!
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Post by brummiefred on Nov 2, 2014 17:56:02 GMT
I too have suffered from unwanted feature of silly micro bits being purchased without having given instruction or wanted them.
Therefore I changed the instructions to put all repayments in the cash account until I decide what to do. I did this on both my account and that of my partner, but
today find that the system has sold approx £5000 of Slough Commercial without instruction.
I have never used anything other than manual instruction, hate all automated bidding or systems that are beyond my control.
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Post by Ton ⓉⓞⓃ on Nov 2, 2014 18:14:44 GMT
I agree. Please AC do not automatically re-invest my funds in amortizing loans. When I invest in amortizing loans it is because I want my exposure to decrease over time. I transferred a nice round sum to MI as a test only to come back later and find that some if it had been moved. No AI was set (I never used it) and I came to the conclusion after browsing the forum (thanks, posters...) that it must have been taken to top up amortizing loans. I checked all other obvious alternatives. I did not have the time or inclination to delve around further to find out where it had gone. I moved the MI sum back out to the cash account and won't be putting any more in till I have control back! and I too have suffered from unwanted feature of silly micro bits being purchased without having given instruction or wanted them. Therefore I changed the instructions to put all repayments in the cash account until I decide what to do. I did this on both my account and that of my partner, but today find that the system has sold approx £5000 of Slough Commercial without instruction. I have never used anything other than manual instruction, hate all automated bidding or systems that are beyond my control. Can I suggest that you read this one thread where Posters have stuck up our own FAQ. It's shortish and very helpful. Things you need to know about the new web site
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oldgrumpy
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Post by oldgrumpy on Nov 2, 2014 18:17:45 GMT
"...today find that the system has sold approx £5000 of Slough Commercial without instruction...."
That will take some explaining! 
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mikes1531
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Post by mikes1531 on Nov 2, 2014 23:08:22 GMT
"...today find that the system has sold approx £5000 of Slough Commercial without instruction...."
That will take some explaining!
User thinking they could disable AutoInvest by removing their target investment -- by setting it to zero? (Possibly remembering the old days when you could give AutoInvest the authority to buy but not to sell?)
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Post by geoffrey on Nov 3, 2014 8:56:31 GMT
I guessed there had to be something at the root of the problem like a bug but wondered if others were having the same problem. The quick way to stop the AI is 1) ensure that there is no money in your manual investment account; and 2) ensure that your default setting for that account is to "withdraw" all repayments (which doesn't mean withdraw to your bank, but withdraw from the manual investment account to your cash account within AC). This is what I've done until AC sort out the amortizing loans issue. It's somewhat ironic that they called the manual account "manual" when in fact a lot of AI stuff happens automatically without authorization if you don't watch it like a hawk. After you've done 1) and 2) you should go through all your loans ensuring that the target is set the same as the capital amount (or less if you want to sell). Don't set the target to zero unless you want to sell out of the loan entirely.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 3, 2014 9:44:53 GMT
I guessed there had to be something at the root of the problem like a bug but wondered if others were having the same problem. The quick way to stop the AI is 1) ensure that there is no money in your manual investment account; and 2) ensure that your default setting for that account is to "withdraw" all repayments (which doesn't mean withdraw to your bank, but withdraw from the manual investment account to your cash account within AC). This is what I've done until AC sort out the amortizing loans issue. It's somewhat ironic that they called the manual account "manual" when in fact a lot of AI stuff happens automatically without authorization if you don't watch it like a hawk. After you've done 1) and 2) you should go through all your loans ensuring that the target is set the same as the capital amount (or less if you want to sell). Don't set the target to zero unless you want to sell out of the loan entirely. Hi Geoffrey. Thanks for the steer but I had already done that. However it appears that interest payments and repayments of capital all come into my MAI and are likely to get pumped out to loans I do not want to add to. I have had a fiddle over the weekend and will see what happens now. However I still think it is unforgivable of AC to implement this system in this way without first making sure investors know what is going to happen.
I am beginning to hear the call of the "Go Away Bird" if it gets much loader that is exactly what I will do.
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