Mikeme
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Post by Mikeme on Apr 1, 2020 11:19:47 GMT
Serious thread.
1 Stop asking the same questions over and over again because you don't like the answers. It only distracts from important things.
2 Is there anyway we could support borrowers at this time? IE Making sure they know what government help is available
3 Is there a way we could help to ensure unscrupulous borrowers don't take the ****
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lara
Posts: 345
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Post by lara on Apr 1, 2020 11:49:24 GMT
Stop leaving negative reviews on TrustPilot for a start. It's good to see that some have responded with balanced comments.
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Post by mrclondon on Apr 1, 2020 12:20:46 GMT
On the assumption that the economy is going to be suffering for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Disclosure: My QAA exposure is normally limited to a very small amount of cash swept from MLA, currently just a few hundred pounds.
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alanh
Posts: 556
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Post by alanh on Apr 1, 2020 12:23:43 GMT
On the assumption that the economy is going to be suffer for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Now that is a very good idea
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Post by bracknellboy on Apr 1, 2020 12:31:05 GMT
I would be happy to sell you my holdings in the GBBA at a 30% discount.
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mark
Posts: 163
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Post by mark on Apr 1, 2020 12:58:02 GMT
Serious thread. 1 Stop asking the same questions over and over again because you don't like the answers. It only distracts from important things. 2 Is there anyway we could support borrowers at this time? IE Making sure they know what government help is available 3 Is there a way we could help to ensure unscrupulous borrowers don't take the **** Good points mikeme 1. Excellent advice Sir 2. I suspect that Assetz Capital's regional directors and team are fully engaged with every borrower and probably have been for weeks to establish needs. 3. Part of 2
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Post by eascogo on Apr 1, 2020 14:59:47 GMT
On the assumption that the economy is going to be suffering for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Disclosure: My QAA exposure is normally limited to a very small amount of cash swept from MLA, currently just a few hundred pounds.
It was foreseeable that unilaterally locking up money in access accounts would put some lenders in great difficulty. Why did AC not come up with a scheme enabling release of cash under some form of discounted trading as outlined by mrclondon. Not to have do so is disgraceful and the anger reported on this forum is legitimate. So AC please get on your bike, devise some scheme to let a few desperate lenders access to their money.
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agent69
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Post by agent69 on Apr 1, 2020 15:21:13 GMT
On the assumption that the economy is going to be suffering for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Disclosure: My QAA exposure is normally limited to a very small amount of cash swept from MLA, currently just a few hundred pounds.
I like the idea of discounting, but fear that the queue for the door is so great that it would need involvement from the big hitters to make a meaningful dent in that queue (the same big hitters that AC appear to have alienated by their shenanigans)
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mark
Posts: 163
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Post by mark on Apr 1, 2020 15:48:49 GMT
a) Support Assetz Captal in the action that is required.
b) Post contructive posts and end the chocolate tea potism of whinging just because you can.
( No one likes a whinger FACT.
Liking your own post does not mean you are liked either !!! Another FACT)
( Apologies for short digression )
Give Assetz Capital management the time and opportunity to continue their work on returning to normal market conditions as soon as possible by whatever strategy they ( the professionals ) believe is the fairest way for all.
c) Vote option A
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alanh
Posts: 556
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Post by alanh on Apr 1, 2020 15:49:06 GMT
On the assumption that the economy is going to be suffering for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Disclosure: My QAA exposure is normally limited to a very small amount of cash swept from MLA, currently just a few hundred pounds.
I like the idea of discounting, but fear that the queue for the door is so great that it would need involvement from the big hitters to make a meaningful dent in that queue (the same big hitters that AC appear to have alienated by their shenanigans) They should implement this as a matter of urgency. Its the only way the access account exit queue will ever clear.
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alibaba
Member of DD Central
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Post by alibaba on Apr 1, 2020 15:58:18 GMT
I would be happy to sell you my holdings in the GBBA at a 30% discount. Me to, I would happily sell you my holdings in GBBA1, GEA and MLA account at 30% discount
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Post by eascogo on Apr 1, 2020 16:07:47 GMT
On the assumption that the economy is going to be suffering for many many months, and based on the strength of feeling that some are expressing about wishing to withdraw funds from the access accounts I have been pondering whether AC providing a means of trading QAA withdrawals / investments at a discount might be appropriate.
It is inevitable that some lenders will now be struggling for cash to support themselves having over committed to asset backed investments, and its also the case that those in MLA have had to offer discounts of 10-25% to attract the limited buyers (I've been buying in this range).
The stockmarket is down around 30% and I believe has further to fall.
I would be willing to consider buying into QAA at a 30% capital discount if there were corresponding sellers.
Disclosure: My QAA exposure is normally limited to a very small amount of cash swept from MLA, currently just a few hundred pounds.
I like the idea of discounting, but fear that the queue for the door is so great that it would need involvement from the big hitters to make a meaningful dent in that queue (the same big hitters that AC appear to have alienated by their shenanigans) It seems to me that you would have to be desperate to sacrifice 30% or more to get at your cash. If trading is not enough to absorb all of the queue, so be it. At least some, hopefully those short of any other option, will access their cash. A sliding scale of discounting may help. Such a scheme would ensure the platform is not experiencing cash drain.
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alanh
Posts: 556
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Post by alanh on Apr 1, 2020 16:14:19 GMT
I like the idea of discounting, but fear that the queue for the door is so great that it would need involvement from the big hitters to make a meaningful dent in that queue (the same big hitters that AC appear to have alienated by their shenanigans) It seems to me that you would have to be desperate to sacrifice 30% or more to get at your cash. If trading is not enough to absorb all of the queue, so be it. At least some, hopefully those short of any other option, will access their cash. A sliding scale of discounting may help. Such a scheme would ensure the platform is not experiencing cash drain. Why not introduce a secondary market and allow the balance of buyers and sellers to find a price? Then everyone is happy. I don't know what the correct price level is but if you are one of the people that thinks Assetz are just stringing this out until they collapse then selling everything now at a 30% discount may well be preferable to waiting years for the administrators to liquidate everything, take their fees and distribute whats left.
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agent69
Member of DD Central
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Post by agent69 on Apr 1, 2020 16:49:09 GMT
It seems to me that you would have to be desperate to sacrifice 30% or more to get at your cash. If trading is not enough to absorb all of the queue, so be it. At least some, hopefully those short of any other option, will access their cash. A sliding scale of discounting may help. Such a scheme would ensure the platform is not experiencing cash drain. Why not introduce a secondary market and allow the balance of buyers and sellers to find a price? Then everyone is happy. I don't know what the correct price level is but if you are one of the people that thinks Assetz are just stringing this out until they collapse then selling everything now at a 30% discount may well be preferable to waiting years for the administrators to liquidate everything, take their fees and distribute whats left. Probably signifcantly less than 70%
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Post by martinde21 on Apr 1, 2020 16:56:46 GMT
Hi all
I appreciate and understand that many investors are angry at AC, and feel they have valid points.
However, as a previous poster has said, other investments in stocks and shares are tanking by 30%+, with someway to go. The last thing we should be collectively doing is creating a run on AC or undermining market confidence. We really don't want to see the platform fail, do we?
I would like to see AC running an investor's forum where we can discuss and share ideas confidentially. Discounting and/or creating a secondary market is a very good idea, as others have said. I can see forbearance on repayments also extending to a six month period or longer, and would be favour of this if it also reduces our exposure to capital loss. We need our borrowers to keep solvent if they can and recover quickly with the economic upturn that is likely to come in the near future. As much as I wince, charging fees is reasonable. They could have implemented a haircut, like other platforms have done recently, but I appreciate this would have drawbacks too, in terms of cashflow generation.
I'm pleased that AC is helping with the Government-backed loan scheme to small businesses and wish them every success in this area. This will, I'm sure, help secure the platform's future significantly.
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