iRobot
Member of DD Central
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Post by iRobot on Aug 13, 2020 8:55:06 GMT
iann / essexboy - did you receive nothing y'day? I received a payment at 13:22 (QAA) for the equivalent of £82.25 per £10k invested. By comparison, the previous average for any contiguous 10 day period under the current method was £58.46 per £10k. Yes, I got a payment at 13:22 (in the region of £81.84 per £10k).
I have asked AC whether this was a roll-up or the first of a number of distributions. Given the comparison to previous 10-day average average, my expectation is that it'll be a roll-up. But if there's more to come, happy days! 
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IFISAcava
Member of DD Central
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Post by IFISAcava on Aug 13, 2020 14:57:06 GMT
Loan #985 has been redeemed, £7.6M including interest, awaiting distribution. Way to go! The largest holding in the AA - about 3% of the outstanding AA amount - based on my account figures
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upperdeane
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Post by upperdeane on Aug 13, 2020 16:11:53 GMT
Loan #985 has been redeemed, £7.6M including interest, awaiting distribution. Way to go! The largest holding in the AA - about 3% of the outstanding AA amount - based on my account figures So can i just clarify something please ..... if I have say £500 in this loan in my QAA account and I have my entire QAA up for sale currently, do i receive the full £500 back into my cash holding account? Also, how long does distributions usually take?
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Post by Ace on Aug 13, 2020 16:14:45 GMT
The largest holding in the AA - about 3% of the outstanding AA amount - based on my account figures So can i just clarify. If I have say £500 in this loan in my QAA account and I have my entire QAA up for sale currently, do i receive the full £500 back into my cash holding account? No. AC decide how much to return to you and how much to hold back to fund future tranches of loans they've committed to.
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upperdeane
Member of DD Central
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Post by upperdeane on Aug 13, 2020 16:15:56 GMT
So can i just clarify. If I have say £500 in this loan in my QAA account and I have my entire QAA up for sale currently, do i receive the full £500 back into my cash holding account? No. AC decide how much to return to you and how much to hold back to fund future tranches of loans they've committed to. OK thanks ..not quite a good as i thought then.
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ian
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Post by ian on Aug 13, 2020 16:20:09 GMT
Given these are the loans that have redeemed over the past 11 days
Loan #578 has repaid £147K
Loan #848 has been redeemed, £4.621M
Loan #959 has been redeemed, £338K
Loan #1053 has repaid £160K
Loan #1268 has repaid £817K
Loan #851 has repaid £45K
Loan #1224 has repaid £172K
Loan #1276 has repaid £299K
Loan #1057 has been redeemed, £365K
Loan #851 has been redeemed, £13K
Loan #593 has been redeemed, £10K
Loan #1061 has been redeemed, £179K
Loan #994 has repaid £468K
Loan #590 has repaid £781K
Loan #985 has been redeemed, £7.6M
Approx £15m - circa 10% of the retail investing the access accounts why have we only received approx 0.8% of the value of the funds.
I’m sure someone like puddleduck might have more accurate numbers, however - If a significant proportion is not distributed back to investors then ACs actions are tantamount to ***** !
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iann
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Post by iann on Aug 13, 2020 16:24:43 GMT
Be careful what you say.
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iRobot
Member of DD Central
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Post by iRobot on Aug 13, 2020 16:31:08 GMT
Given these are the loans that have redeemed over the past 11 days Loan #578 has repaid £147K Loan #848 has been redeemed, £4.621M Loan #959 has been redeemed, £338K Loan #1053 has repaid £160K Loan #1268 has repaid £817K Loan #851 has repaid £45K Loan #1224 has repaid £172K Loan #1276 has repaid £299K Loan #1057 has been redeemed, £365K Loan #851 has been redeemed, £13K Loan #593 has been redeemed, £10K Loan #1061 has been redeemed, £179K Loan #994 has repaid £468K Loan #590 has repaid £781K Loan #985 has been redeemed, £7.6M Approx £15m - circa 10% of the retail investing the access accounts why have we only received approx 0.8% of the value of the funds. I’m sure someone like puddleduck might have more accurate numbers, however - If a significant proportion is not distributed back to investors then ACs actions are tantamount to ***** ! Taking #985 as an example, it being the latest and largest, that development received a tranche payment of £408,709.84 on 29/05/2020 - if funds hadn't been made available to fulfil the tranche requirement and complete the development, would the loan had been as likely to redeem on time and fully? Point being, by forsaking a suitably high amount from earlier redemptions, AC were able to fulfil the tranche requirement and further redemptions became possible. I really don't see that as " tantamount to *****".
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Post by davee39 on Aug 13, 2020 16:34:43 GMT
Is is not wonderful when someone who clearly does not understand the product they invested in throws out potentially actionable allegations.
Perhaps it has escaped notice that these loans are also held outside the access account,
Or that the Accounts contain a mix of loans and cash to be determined at AC discretion,
Or that not paying out the cash can, in no way, be described in the way it has been.
Note, cash in these accounts has increased from 2% to a little over 9% since March, and before todays large repayment.
We have always been told that some repayments are needed for future tranches. As building development resumes that might be the case here.
A secondary market is currently available for this product.
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ian
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Post by ian on Aug 13, 2020 16:35:35 GMT
Given these are the loans that have redeemed over the past 11 days Loan #578 has repaid £147K Loan #848 has been redeemed, £4.621M Loan #959 has been redeemed, £338K Loan #1053 has repaid £160K Loan #1268 has repaid £817K Loan #851 has repaid £45K Loan #1224 has repaid £172K Loan #1276 has repaid £299K Loan #1057 has been redeemed, £365K Loan #851 has been redeemed, £13K Loan #593 has been redeemed, £10K Loan #1061 has been redeemed, £179K Loan #994 has repaid £468K Loan #590 has repaid £781K Loan #985 has been redeemed, £7.6M Approx £15m - circa 10% of the retail investing the access accounts why have we only received approx 0.8% of the value of the funds. I’m sure someone like puddleduck might have more accurate numbers, however - If a significant proportion is not distributed back to investors then ACs actions are tantamount to ***** ! Taking #985 as an example, it being the latest and largest, that development received a tranche payment of £408,709.84 on 29/05/2020 - if funds hadn't been made available to fulfil the tranche requirement and complete the development, would the loan had been as likely to redeem on time and fully? Point being, by forsaking a suitably high amount from earlier redemptions, AC were able to fulfil the tranche requirement and further redemptions became possible. I really don't see that as " tantamount to *****". If 90% of redeemed capital is retained against investors wishes I would suggest the access accounts are anything but !
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cb25
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Post by cb25 on Aug 13, 2020 16:36:17 GMT
Given these are the loans that have redeemed over the past 11 days Loan #578 has repaid £147K Loan #848 has been redeemed, £4.621M Loan #959 has been redeemed, £338K Loan #1053 has repaid £160K Loan #1268 has repaid £817K Loan #851 has repaid £45K Loan #1224 has repaid £172K Loan #1276 has repaid £299K Loan #1057 has been redeemed, £365K Loan #851 has been redeemed, £13K Loan #593 has been redeemed, £10K Loan #1061 has been redeemed, £179K Loan #994 has repaid £468K Loan #590 has repaid £781K Loan #985 has been redeemed, £7.6M Approx £15m - circa 10% of the retail investing the access accounts why have we only received approx 0.8% of the value of the funds. Loan #985 (£7.6M) hasn't been distributed yet and there may be others awaiting distribution.
How did you calculate the 0.8%?
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iRobot
Member of DD Central
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Post by iRobot on Aug 13, 2020 16:43:12 GMT
Taking #985 as an example, it being the latest and largest, that development received a tranche payment of £408,709.84 on 29/05/2020 - if funds hadn't been made available to fulfil the tranche requirement and complete the development, would the loan had been as likely to redeem on time and fully? Point being, by forsaking a suitably high amount from earlier redemptions, AC were able to fulfil the tranche requirement and further redemptions became possible. I really don't see that as " tantamount to *****". If 90% of redeemed capital is retained against investors wishes I would suggest the access accounts are anything but ! Ok, you've changed the vector of you attack to one that's been discussed / argued ad nauseam. Bored now. I'm out.
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ian
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Post by ian on Aug 13, 2020 16:52:27 GMT
Given these are the loans that have redeemed over the past 11 days Loan #578 has repaid £147K Loan #848 has been redeemed, £4.621M Loan #959 has been redeemed, £338K Loan #1053 has repaid £160K Loan #1268 has repaid £817K Loan #851 has repaid £45K Loan #1224 has repaid £172K Loan #1276 has repaid £299K Loan #1057 has been redeemed, £365K Loan #851 has been redeemed, £13K Loan #593 has been redeemed, £10K Loan #1061 has been redeemed, £179K Loan #994 has repaid £468K Loan #590 has repaid £781K Loan #985 has been redeemed, £7.6M Approx £15m - circa 10% of the retail investing the access accounts why have we only received approx 0.8% of the value of the funds. Loan #985 (£7.6M) hasn't been distributed yet and there may be others awaiting distribution.
How did you calculate the 0.8%?
As I said my numbers are not wholly accurate approx £150m of retail investors Money is in the access accounts. £15m redeemed is 10% - we have been redeemed approx 0.8% of the that figure £82 per £10,000 invested - someone like puddleduck will be able to give accurate numbers.
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Post by essexboy on Aug 13, 2020 17:01:13 GMT
Without detail, I feel I need to defend some of the sentiment here...
1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that?
2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that?
If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going).
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 13, 2020 17:05:20 GMT
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