cb25
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Post by cb25 on Mar 22, 2020 12:07:06 GMT
Same, About 80% of my que order is to be re-invested into the 90 DAA and some of that in the ISA wrapper (I plan on using my Lifetime ISA on stocks, so not all of it). I had funds swept so was locked into the situation as I didnt' log in for a few days as I was busy with my business. (you know the whole crash thing!  ) One thing I saw when cash was paid out to investors a few days ago, alot of that was simply recycled into the 90 daa (see the growth of the account in the other thread), as well as some was then reinvested into the QAA (before withdrawl button existed?) A large amount also scooped up nearly all bargins in the MLA (see other posters complaining that the bargins went within a 30 minute period of the pay out) I really think this *liquid* crisis, can be really cooled off by allowing investors to: Transfer funds to the 30DAA & 90DAA without selling up (as can be done from being invested in the 30DAA and transfering to the 90DAA already) Allowing investors to transfer their holdings to the MLA. The ISA is not possible to transfer due to HMRC rules, unfontunely isn't much AC can do about that. Unless they have some smart idea about getting around that. Agreed. " You cannot transfer any peer-to-peer loans you’ve already made or crowdfunding debentures you already hold into an innovative finance ISA." (my use of bold) source: HMRCSo, regardless of how many lenders like the idea, there's no point petitioning AC to allow it. If AC were to allow some circumvention of the rules, i) they'd be in trouble with the FCA and ii) it would probably invalidate the IFISA savings anyway. Tagging marky Deees daveb4 rscal
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alanh
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Post by alanh on Mar 22, 2020 12:47:33 GMT
Same, About 80% of my que order is to be re-invested into the 90 DAA and some of that in the ISA wrapper (I plan on using my Lifetime ISA on stocks, so not all of it). I had funds swept so was locked into the situation as I didnt' log in for a few days as I was busy with my business. (you know the whole crash thing! ) One thing I saw when cash was paid out to investors a few days ago, alot of that was simply recycled into the 90 daa (see the growth of the account in the other thread), as well as some was then reinvested into the QAA (before withdrawl button existed?) A large amount also scooped up nearly all bargins in the MLA (see other posters complaining that the bargins went within a 30 minute period of the pay out) I really think this *liquid* crisis, can be really cooled off by allowing investors to: Transfer funds to the 30DAA & 90DAA without selling up (as can be done from being invested in the 30DAA and transfering to the 90DAA already) Allowing investors to transfer their holdings to the MLA. The ISA is not possible to transfer due to HMRC rules, unfontunely isn't much AC can do about that. Unless they have some smart idea about getting around that. I think both of your suggestions make a lot of sense. They would both reduce the size of funds looking to exit the access accounts and relieve pressure on the system. The transferring of holdings to the MLA has additional benefits: - it allows those that leave to benefit from the higher rates on the underlying loans (but without the benefit of the provision fund), if they so wish - it give those remaining in the access accounts more security as the provision funds for those accounts are now providing cover for a smaller value of loans They would also go some way to relieving the ill feeling among investors about how this whole situation has been handled.
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rscal
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Post by rscal on Mar 22, 2020 14:04:02 GMT
Some good ideas here. I'm a big fan of letting the market do it's thing, so Assetz' existing plan (as per the FAQ) to allow investors to unwrap their QAA holdings and be able to manage the loan parts directly seems best to me.... I didn't see that. Am I looking at something different to you? ( FAQ link ) How would this work?
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cb25
Posts: 3,528
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Post by cb25 on Mar 22, 2020 15:00:15 GMT
Some good ideas here. I'm a big fan of letting the market do it's thing, so Assetz' existing plan (as per the FAQ) to allow investors to unwrap their QAA holdings and be able to manage the loan parts directly seems best to me.... I didn't see that. Am I looking at something different to you? ( FAQ link ) How would this work? That update does mention "We are also working on a way to let investors choose to permanently leave the Access Accounts with both their share of the uninvested cash and their loan investments if they so choose and we will advise on this new function shortly. That would immediately release the correct proportion of cash held in the Access Accounts in your name to be immediately taken to your Cash Account and withdrawn if required and the rest of your loan investments would repay according to the actual repayments made by the borrower. Those loan agreements would be able to continue to benefit from the relevant Access Account provision fund", but I have no idea how that would work, need to wait for AC to announce it ('shortly').
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Balder
Member of DD Central
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Post by Balder on Mar 22, 2020 15:05:16 GMT
Develop a vaccine!
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Post by Harland Kearney on Mar 22, 2020 15:10:35 GMT
haha yes, AC do this!
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m2btj
Member of DD Central
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Post by m2btj on Mar 23, 2020 9:43:33 GMT
The $64,000 question is just how long the virus lasts for before markets return to some semblance of normality. If we see large falls in deaths & infections within 12 weeks I would expect to see confidence returning to global markets. The US usually leads out of global recession & their progress in dealing with the virus will be key.
Interestingly, P2P News states that several platforms are reporting uplifts in investor activity in the light of rock bottom investor savings returns. Alternative property finance platform LendInvest also completed its second securitisation of buy-to-let (BTL) mortgages, despite adverse market conditions. AC would be well placed to deliver government financial support to SME's through its well developed regional network. I would like to see AC develop stronger links with the British Business Bank (BBB) to pump millions into loans. BBB have been huge investors in FC & AC presents a far better long term opportunity than FC ever would.
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alender
Member of DD Central
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Post by alender on Mar 23, 2020 10:08:20 GMT
Instead of/or in addition to a Bonus for new lenders how about a Bonus for loyal customers, i.e. existing Lenders that do not have a withdrawal request during this period (perhaps 90 days), this would include all existing and new requests. This could start in say 1 weeks time to give Lenders a chanced to cancel all their withdrawal requests or if started immediately perhaps a week to cancel all withdraw requests (as I cannot see much money flowing out during this period). Those investors that take up this offer will help to fund AC with their interest as well as any Capital repayments.
AC on their part should not take on any new borrows, try to retrieve as much money from defaults (as far as reasonably possible) and only give new funding to existing Borrowers that it is absolutely necessary.
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benaj
Member of DD Central
N/A
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Post by benaj on Mar 23, 2020 10:41:41 GMT
Instead of/or in addition to a Bonus for new lenders how about a Bonus for loyal customers, i.e. existing Lenders that do not have a withdrawal request during this period (perhaps 90 days), this would include all existing and new requests. This could start in say 1 weeks time to give Lenders a chanced to cancel all their withdrawal requests or if started immediately perhaps a week to cancel all withdraw requests (as I cannot see much money flowing out during this period). Those investors that take up this offer will help to fund AC with their interest as well as any Capital repayments. AC on their part should not take on any new borrows, try to retrieve as much money from defaults (as far as reasonably possible) and only give new funding to existing Borrowers that it is absolutely necessary. If there is a sudden £3 billion investment, AC will need new projects and borrowers for generating returns for investors.
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cb25
Posts: 3,528
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Post by cb25 on Mar 23, 2020 11:47:48 GMT
Instead of/or in addition to a Bonus for new lenders how about a Bonus for loyal customers, i.e. existing Lenders that do not have a withdrawal request during this period (perhaps 90 days), this would include all existing and new requests. This could start in say 1 weeks time to give Lenders a chanced to cancel all their withdrawal requests or if started immediately perhaps a week to cancel all withdraw requests (as I cannot see much money flowing out during this period). Those investors that take up this offer will help to fund AC with their interest as well as any Capital repayments. AC on their part should not take on any new borrows, try to retrieve as much money from defaults (as far as reasonably possible) and only give new funding to existing Borrowers that it is absolutely necessary. If there is a sudden £3 billion investment, AC will need new projects and borrowers for generating returns for investors. I haven't seen any Upcoming Loans listed for a while (a week maybe?). Assume AC are holding them up. Asked that via Livechat last week, but the AC operative had no info.
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Post by Harland Kearney on Mar 23, 2020 12:34:03 GMT
I've seen lots of the March Loans listed being updated today, none out of pipeline today yet though. Likely we'll see some before the end of March.
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Post by Ton ⓉⓞⓃ on Mar 24, 2020 9:09:41 GMT
I've seen lots of the March Loans listed being updated today, none out of pipeline today yet though. Likely we'll see some before the end of March. The Borrowers might be saying, "Do I want to start a 6months building project right now when my builders might be quarantined for a fortnight." which is then likely to lead to some kind of recession.
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Post by Harland Kearney on Mar 24, 2020 12:39:19 GMT
I've seen lots of the March Loans listed being updated today, none out of pipeline today yet though. Likely we'll see some before the end of March. The Borrowers might be saying, "Do I want to start a 6months building project right now when my builders might be quarantined for a fortnight." which is then likely to lead to some kind of recession. Taken in hindsight, my post was before last night PM address. Your right ofc, I can't see anything happening for the next 3 weeks now, and time after that if it is renewed restrictions or taken even deeper... But we'll see, looking like AC may get further support from Goverment to fund more projects in the future. I can see that happening honestly.
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