cb25
Posts: 3,528 
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Post by cb25 on Jun 3, 2020 8:15:02 GMT
Until yesterday, if you had multiple access accounts all in the exit queue, when a distribution payment made you would have received one flat distribution payment per account. So, if you had a QAA, 30DAA and 90DAA accounts in both standard and IFISA form, you would receive 6 times the distribution payment. As of yesterday, you will now receive payments pro-rata according to the total amount in your accounts, so having money spread over multiple accounts is no longer an advantage. Is it pro-rata to the amount in your account, or pro-rata to the amount requested to be withdrawn? Where there is a difference between the two, of course. From the Access Accounts Update "Currently these loan redemption sums are allocated to an investor’s withdrawal request on a pro-rata basis to each investor’s total investment in that loan within the relevant Access Account that they are withdrawing from, not the size of their withdrawal request."
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Post by angel19 on Jun 3, 2020 8:51:38 GMT
It is still an advantage to withdraw from multiple access accounts, since the amount you receive is based on your investment within the relevant access account.
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Post by Ace on Jun 3, 2020 10:17:05 GMT
It is still an advantage to withdraw from multiple access accounts, since the amount you receive is based on your investment within the relevant access account. There used to be an advantage if your investment was spread over multiple accounts, compared to that total investment being in a single account, but there no longer is. E.g. if there was a distribution of £1 per account and you had £600 spread over 6 accounts (£100 in each) you would previously have received £6 in distributions. This was an advantage when compared with someone else who had £600 in a single account, as they would have received a single £1 distribution. This advantage is no longer present.
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Post by elephantrosie on Jul 17, 2020 1:17:13 GMT
Am I right that 90daa interest is back to 5.75%?
QAA is 3.75%?
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Post by Ace on Jul 17, 2020 7:08:00 GMT
Am I right that 90daa interest is back to 5.75%? QAA is 3.75%? No. The 90DAA will drop to 4.1% on 1st Sep. Assetz had to give us 90 days notice of the drop.
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dead-money
Rocket to the Moon
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Post by dead-money on Jul 17, 2020 13:44:10 GMT
Am I right that 90daa interest is back to 5.75%? QAA is 3.75%? No. The 90DAA will drop to 4.1% on 1st Sep. Assetz had to give us 90 days notice of the drop. And remember that's a 'Target' rate, what you actually got / will get was less than that.
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Post by elephantrosie on Jul 17, 2020 16:48:45 GMT
Am I right that 90daa interest is back to 5.75%? QAA is 3.75%? No. The 90DAA will drop to 4.1% on 1st Sep. Assetz had to give us 90 days notice of the drop. Until then 90QAA is 5.75? Qaa is 3.75?
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Post by Ace on Jul 17, 2020 17:05:59 GMT
No. The 90DAA will drop to 4.1% on 1st Sep. Assetz had to give us 90 days notice of the drop. Until then 90QAA is 5.75? Qaa is 3.75? Yes, as targets, but I think the targets have been achieved to date.
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Post by elephantrosie on Jul 18, 2020 16:28:29 GMT
How much would QAA be from sept onwards
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dead-money
Rocket to the Moon
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Post by dead-money on Jul 18, 2020 17:25:06 GMT
You should have received an email 1st June from Assetz Capital detailing the changes, but in short since 1st June until further notice as below.
>> QAA - 3.75%
30DAA - 4.00%
90DAA - 4.10% <<
Remember rates aren't guaranteed, just targets, variable and entirely at AC management discretion.
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Post by elephantrosie on Jul 18, 2020 23:17:54 GMT
You should have received an email 1st June from Assetz Capital detailing the changes, but in short since 1st June until further notice as below.
>> QAA - 3.75%
30DAA - 4.00%
90DAA - 4.10% <<
Remember rates aren't guaranteed, just targets, variable and entirely at AC management discretion.
Thanks. I remember receiving an email from AC stating that they were back to their target interests- sometime in end of may or june. So that's not the case?
90DAA is 4.1 and not 5.75% as discussed earlier?
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Post by Ace on Jul 19, 2020 7:44:40 GMT
From the lender bulletin of 1st June:
From the current 90DAA Key Account Info page:
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dead-money
Rocket to the Moon
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Post by dead-money on Jul 19, 2020 9:36:17 GMT
Actual rates paid on 90 Day Access account were:
For April 3.75% For May 4.40% For June 5.75% For July ? Wait and see...
Actual rates paid on 30 Day Access account were:
For April 3.75%
For May 4.40%
For June 4.00%
For July ? Wait and see...
The projected targets announced via email or on the website are as reliable as a politican's promise at the moment.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jul 19, 2020 13:40:44 GMT
The forbearance is very unevenly divided.
QAA was paying 4.1% now 3.75%, that's a 8.5% reduction.
90Day (34.8%, 23.5%, 0%) 19.4% reduction (averaged).
30Day (26.5%, 13.7%, 21.6%) 20.6% reduction (averaged).
MLA 5% loan now 4.1% that's an 18% reduction.
MLA 6% loan now 5.1% that's a 15% reduction.
MLA 7% loan now 6.1% that's a 12.9% reduction.
MLA 8% loan now 7.1% that's an 11.3% reduction.
MLA 9% loan now 8.1% that's a 10% reduction.
MLA 10% loan low 9.1% that's a 9% reduction.
Conclusion is that MLA investors and longer term investors are subsidising the QAA.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jul 19, 2020 13:54:36 GMT
The forbearance is very unevenly divided. QAA was paying 4.1% now 3.75%, that's a 8.5% reduction. 90Day (34.8%, 23.5%, 0%) 19.4% reduction (averaged). 30Day (26.5%, 13.7%, 21.6%) 20.6% reduction (averaged). MLA 5% loan now 4.1% that's an 18% reduction. MLA 6% loan now 5.1% that's a 15% reduction. MLA 7% loan now 6.1% that's a 12.9% reduction. MLA 8% loan now 7.1% that's an 11.3% reduction. MLA 9% loan now 8.1% that's a 10% reduction. MLA 10% loan low 9.1% that's a 9% reduction. Conclusion is that MLA investors and longer term investors are subsidising the QAA. So MAL investors are carrying (10% ish ?? Someone cleverer please feel free to correct) more risk, for for roughly 10 % less return than before covid event. ?
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