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Post by davee39 on Aug 4, 2020 17:06:09 GMT
Please be aware that some people have difficulties with written language. They deserve to be treated politely.
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Post by zeddy on Aug 4, 2020 23:57:20 GMT
Please be aware that some people have difficulties with written language. They deserve to be treated politely. There are ass***** everywhere. I was writing on my phone and using voice typing. Something that I should stop doing with idiots around !!
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blender
Member of DD Central
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Post by blender on Aug 5, 2020 7:21:37 GMT
Please be aware that some people have difficulties with written language. They deserve to be treated politely. There are ass***** everywhere. I was writing on my phone and using voice typing. Something that I should stop doing with idiots around !! Yes. You reap what you sow.
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ian
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Post by ian on Aug 5, 2020 9:13:51 GMT
Unless I'm misunderstanding something, I usually check this in the Marketplace - change the slider so that it DOESN'T say "Only Show MLA Holdings", enter the loan number in the search box and it will then show your total AA exposure to that loan. If you click through to the loan, uncheck "Manual Lending Only" to show the breakdown of your AA/QAA exposure. It's trickier if it's an interest payment or partial capital repayment, especially with the possibility of loaning out further tranches - for these, it's usually an approximate percentage (ie if they redeem half the capital, then I'll get around half my exposure back). But for #848, it's a full repayment so presumably almost 100% of my current AA exposure should come back to me, no?Admittedly, #848 has now been removed from Marketplace (presumably because it's now fully redeemed) but I made a note of my exposure before that happened and my figures show around £120 per 10k. No. AC might need to keep some of the money, e.g. to fund future tranches of existing loans (that they're already committed to providing funds for). May be the case they need to make a contribution to the provision fund. Over 1% of AC capital has been returned over 2% of retail investors funds. If we are not returned a significant slug of this then one seriously has to question the integrity of the platform.
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picnicman
Member of DD Central
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Post by picnicman on Aug 5, 2020 10:05:56 GMT
Unless I'm misunderstanding something, I usually check this in the Marketplace - change the slider so that it DOESN'T say "Only Show MLA Holdings", enter the loan number in the search box and it will then show your total AA exposure to that loan. If you click through to the loan, uncheck "Manual Lending Only" to show the breakdown of your AA/QAA exposure. It's trickier if it's an interest payment or partial capital repayment, especially with the possibility of loaning out further tranches - for these, it's usually an approximate percentage (ie if they redeem half the capital, then I'll get around half my exposure back). But for #848, it's a full repayment so presumably almost 100% of my current AA exposure should come back to me, no?Admittedly, #848 has now been removed from Marketplace (presumably because it's now fully redeemed) but I made a note of my exposure before that happened and my figures show around £120 per 10k. No. AC might need to keep some of the money, e.g. to fund future tranches of existing loans (that they're already committed to providing funds for). May be the case they need to make a contribution to the provision fund. - first of all thanks for your (and others) continued monitoring of loan repayments - appreciated. One hopes that the platform is making excess interest over what it pays out each month which I seem to remember AC saying would go to provision fund (which has not changed much if at all as far as I can see, but that does not mean that they are not holding the cash.) Also one hopes that the CBILS is kicking in re funding future tranches of existing loans. We are all guessing until the launch of the trading facility will allow repayments to withdrawals to start again. We cannot tell which loans are paying what amounts, although the amount of 848 should be a giveaway. The fact that it has disappeared from loan holdings does not necessarily mean an issue - some of the other loan holdings are still there but reduced in terms of partial repayments. However if the loan holdings equal your total AA value, the fact that 848 is not there is worrying. Not being at the front end, as I say we are guessing, but will find out soon enough. That is my take for what it is worth - Cheers P
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Post by davee39 on Aug 5, 2020 11:42:16 GMT
When AC froze withdrawals I believe the cash portion of the AA stood at about 2%. I have been monitoring this and seen it slowly increase. It was suggested that a cash position of 10% was needed to allow the account to operate correctly.
Current cash is 9.3% following recent redemptions and I would expect perhaps a third of this, or £300/£10k to be paid out once the system restarts.
Normal trading would be governed by both the cash in the account and lender sentiment, as shown by the discount. I think this is still several months away.
Zopa may be seen as an interesting comparison. It looks like they are imposing additional charges when loans are traded to compensate the new lender for the extra risk,
This charge has been reported at about 4%. If AA trading stabilises at this sort of level, then it might be possible to encourage new money into the accounts and reduce the demand for withdrawals.
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iRobot
Member of DD Central
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Post by iRobot on Aug 5, 2020 11:50:56 GMT
... Normal trading would be governed by both the cash in the account and lender sentiment, as shown by the discount. I think this is still several months away.... Are you thinking 2020, though? If so, I'm more pessimistic - Q2 2021 earliest 
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Post by kosnanat on Aug 5, 2020 17:28:11 GMT
No, it was turned off at 8.30 PM the night before they disabled it. Furthermore Assetz did not warn the lenders that they were planning to do this any way. They claim that they announced it on their blog !!!  ) That is not accepted form of communicating with investors by ombudsman's standard ... But Assetz still took the money. It is now in the hands of financial ombudsman. It should not be forgotten that Assetz invest lender's money on bad lawn that they can't sell later, and hold on to their money for many years. <mod redacted> Ironically Assetz Capital really disabled trading too late, many lenders (who were repaid later on individally in a months time, I believe Mikeme was one of those investors) withdrew money on the 12th before 8:30 PM made bank withdrawal requests which then got reverted back to the QAA a few days later. If anything the complaint should be they turned it off too late not too early! Reguardless, I don't wanna deconstruct your paragraph. Clearly you will just reply with more nonsense. I'll get off your lawn now  It seems you know too much about Assetz. Are you a representative?
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Post by Harland Kearney on Aug 5, 2020 18:18:28 GMT
Ironically Assetz Capital really disabled trading too late, many lenders (who were repaid later on individally in a months time, I believe Mikeme was one of those investors) withdrew money on the 12th before 8:30 PM made bank withdrawal requests which then got reverted back to the QAA a few days later. If anything the complaint should be they turned it off too late not too early! Reguardless, I don't wanna deconstruct your paragraph. Clearly you will just reply with more nonsense. I'll get off your lawn now It seems you know too much about Assetz. Are you a representative? No, the information is stated just a few posts earlier in thread. Quite a jump. (I'm also the thread OP)
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Aug 6, 2020 8:56:51 GMT
#704 £10,000 capital reduction
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agent69
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Post by agent69 on Aug 7, 2020 8:31:01 GMT
The email of 31st July said the SM would be activated next week. Does that mean by today, or does Saturday and Sunday count?
To quote a line from a Pointer sisters song - I'm so excited, and I just can't hide it, I'm about to lose control and I think I like it
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blender
Member of DD Central
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Post by blender on Aug 7, 2020 8:51:19 GMT
The email of 31st July said the SM would be activated next week. Does that mean by today, or does Saturday and Sunday count?
To quote a line from a Pointer sisters song - I'm so excited, and I just can't hide it, I'm about to lose control and I think I like it
I don't think the Pointer sisters properly understood that they might have to offer a discount.
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mrsb
Posts: 196
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Post by mrsb on Aug 7, 2020 9:00:11 GMT
Nothing in the email about the chunks of redemption's currently not distributed ......?
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iRobot
Member of DD Central
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Post by iRobot on Aug 7, 2020 9:01:21 GMT
I've just received (9.51) AC email "Access Account Marketplace - Making a withdrawal (1/2)" Link to the online version for anyone experiencing email issues.
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iRobot
Member of DD Central
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Post by iRobot on Aug 7, 2020 9:04:18 GMT
iRobot Your link doesn't work as it is missing the 'l' at the end of 'withdrawal' Yep, now fixed. 
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) That is not accepted form of communicating with investors by ombudsman's standard ... But Assetz still took the money. It is now in the hands of financial ombudsman. It should not be forgotten that Assetz invest lender's money on bad lawn that they can't sell later, and hold on to their money for many years. <mod redacted> 
