ashtondav
Member of DD Central
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Post by ashtondav on Mar 22, 2021 16:19:38 GMT
Great news and just in time for ISA season. I can just smell the money coming in from RS. well done AC for surviving the worst crisis outside of war for the last 100 years, paying interest, not losing capital and launching (ok late) a SM which people can exit at just 0.1%. Of the big boys 2nd only to Zopa for business continuity - and several miles ahead of FC and RS. Now, if only the rate could be increased on 90 day AA.....  |
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Post by Ace on Mar 26, 2021 7:11:41 GMT
Does anyone know why there are always 2 overnight payments from each AA account? Just curious.
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Post by oppsididitagain on Mar 26, 2021 8:24:27 GMT
Does anyone know why there are always 2 overnight payments from each AA account? Just curious. I think one is the monies from loan redemption/payments etc. and the other is new money going in to the AA at 0.00 discount I.E bypassing the SHM.
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alender
Member of DD Central
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Post by alender on Mar 26, 2021 8:38:21 GMT
Does anyone know why there are always 2 overnight payments from each AA account? Just curious. Don't know, this has been happening for a time. They are not the same proportions each night, it could be that one is capital repayments and the other form new money invested in the accounts.
Last night the total of the 2 payments amounted to 2.15% of the total held in the individual's AAs.
First payment 0.33%
Second payment 1.82%
Previous night 2.61% paid out
First payment 0.42%
Second payment 2.26%
If new money is one of the payments then it is being paid out pro rata not using the SM FIFO payments.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 26, 2021 8:57:44 GMT
Does anyone know why there are always 2 overnight payments from each AA account? Just curious. Don't know, this has been happening for a time. They are not the same proportions each night, it could be that one is capital repayments and the other form new money invested in the accounts.
Last night the total of the 2 payments amounted to 2.15% of the total held in the individual's AAs.
First payment 0.33%
Second payment 1.82%
Previous night 2.61% paid out
First payment 0.42%
Second payment 2.26%
If new money is one of the payments then it is being paid out pro rata not using the SM FIFO payments.
New money is indeed paid out pro rata if enters at par. That's stated in the AAM guide, discount sales are FIFO. Don't know if the first payment relates to it though seems likely possibility ... perhaps not getting lost in the rounding 
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jlend
Member of DD Central
Posts: 1,840
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Post by jlend on Mar 26, 2021 10:55:21 GMT
Don't know, this has been happening for a time. They are not the same proportions each night, it could be that one is capital repayments and the other form new money invested in the accounts.
Last night the total of the 2 payments amounted to 2.15% of the total held in the individual's AAs.
First payment 0.33%
Second payment 1.82%
Previous night 2.61% paid out
First payment 0.42%
Second payment 2.26%
If new money is one of the payments then it is being paid out pro rata not using the SM FIFO payments.
New money is indeed paid out pro rata if enters at par. That's stated in the AAM guide, discount sales are FIFO. Don't know if the first payment relates to it though seems likely possibility ... perhaps not getting lost in the rounding Could you copy/paste the text from the AAM guide that relates to at par new money going into the Access Accounts? I am clearly not firing on all cylinders after my covid jab yesterday.... Cheers
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 26, 2021 11:07:37 GMT
New money is indeed paid out pro rata if enters at par. That's stated in the AAM guide, discount sales are FIFO. Don't know if the first payment relates to it though seems likely possibility ... perhaps not getting lost in the rounding Could you copy/paste the text from the AAM guide that relates to at par new money going into the Access Accounts? I am clearly not firing on all cylinders after my covid jab yesterday.... Cheers Under How does it work By default, all Withdrawal and Invest Instructions are set at par value, meaning there is no discount applied. It’s important to note, there is no requirement to apply a discount when creating a Withdrawal Instruction. These “at par” withdrawal requests will continue to receive pro-rated distribution of loan redemptions and new investment at par value and be fulfilled over time.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 29, 2021 13:52:21 GMT
#1117 - repaying £652,402 (this is a partial defaulted loan recovery)
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 29, 2021 18:57:24 GMT
#1117 is 54% owned by AAs by my reckoning. Interesting vote on this one currently. That makes 2 out of 2 for interesting votes on loans to this lender (#1116 & #1117). Certainly for me who so far luckily hasn’t seen too many lending crashes to know the range of nitty gritty strategies AC get up to to handle the aftermath. Certainly I hadn’t seen an innovative jam-tomorrow-or haircut-today vote of the ilk on #1116. And this #1117 war-chest funding is a first too that I’ve seen. I normally try to give dubious loans a mile wide berth. And when I haven’t managed that having a chunky amount at risk takes the shine of any “academic” interest. Plus my own big ticket default are relatively dull. But with these the radar was working well enough that I deliberately put a token amount in for a front row seat for this lesson into AC and how it handles a mess. Been quite a few warchest votes. #753, #229 are still accessible in the votes list
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
Likes: 617
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Post by dave4 on Mar 29, 2021 21:00:38 GMT
Roll up, rolllllllll up.
£1 fee for a viewing of the fees versus Rics/ ltv, and not a penny more. Winner is not a certainty, but the loser is usually the lender.
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Post by oppsididitagain on Mar 30, 2021 7:58:26 GMT
I had a big payout from the QAA overnight, approx 6.5 %of the outstanding balance
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Mar 31, 2021 9:41:23 GMT
Loan #548 appears to have repaid £2,958K (from Repayments/Paid tab, but no Update confirming this)
Loan #797 has repaid £187K
Loan #947 has repaid £183K
Loan #1003 has repaid £72K
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Mar 31, 2021 9:57:12 GMT
Loan #548 appears to have repaid £2,958K (from Repayments/Paid tab, but no Update confirming this) Looks highly consistent with my quick analysis. AAs big holders circa 80%. AAs holding dropped from circa £3.6m to £1.2m between today and yesterday. AAs cash up at circa £2.5m today. I've just LiveChat-ed AC to ask if they could add an Update to that loan, confirming the payment and informing lenders of the current state of the loan.
Edit: AC Update is now available on loan #548
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dead-money
Rocket to the Moon
Posts: 746
Likes: 654
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Post by dead-money on Mar 31, 2021 17:59:44 GMT
Looks highly consistent with my quick analysis. AAs big holders circa 80%. AAs holding dropped from circa £3.6m to £1.2m between today and yesterday. AAs cash up at circa £2.5m today. I've just LiveChat-ed AC to ask if they could add an Update to that loan, confirming the payment and informing lenders of the current state of the loan.
Edit: AC Update is now available on loan #548
So as it stands that's a £1.5M capital write off, with AAs taking 80% of the hit ? Wonder how far down the road that can will be kicked...
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 31, 2021 18:40:54 GMT
So as it stands that's a £1.5M capital write off, with AAs taking 80% of the hit ? Wonder how far down the road that can will be kicked... I’m not party to the details as they’re not accessible to my few pennies in this via AAs. But my quick analysis and my read of what’s being said on this forum is that the circa £1m previous ring fencing on this one will need to be upped by about £200k with a corresponding reduction in the free PF cash. Still more cash to comeback after the IP finalise their accounts - £900k left from the sale after initial distribution so maybe enough for no additional call on the PF
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