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Post by mrclondon on Dec 15, 2013 12:35:14 GMT
I'd like to be able to anticipate when, and how much, money will be coming back to my account. Obviously if the loan unexpectedly repaid early, or defaults, that would throw my calculations out: but most loans will run to the end, won't they? Yes I've also asked for a cashflow forecast previously. FK is the best example to date, but I use some clever Excel processing to convert FC's payment schedule into a cashflow forecast. As a higher rate tax payer I'm particularly interested in a per tax year forecast of interest so that I can balance investments between P2P/Cash/ISA and SIPP to make best use of the SIPP tax relief.
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Post by chris on Dec 15, 2013 14:42:37 GMT
Yup I like that idea and it is planned for the future. Internally the system knows when all of your repayments will be and how much is expected so it's pretty easy to predict. Just going to come down to the time it takes to build a nice UI and where it fits into the other priorities.
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mikes1531
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Post by mikes1531 on Dec 16, 2013 1:48:24 GMT
... but most loans will run to the end, won't they? I'd be very surprised if they do. Most of these loans appear to be at rates noticeably higher than would be available via 'conventional' sources. I expect the main reason conventional lenders aren't interested in making these loans is a short track record and/or a project in transition. So as soon as the borrower has a long enough track record, or has been through the transition and come out on the other side, and can obtain a loan from a conventional source, they'll have a significant incentive to refinance. And that will mean their Assetz loans will be paid off early. That's one of the reasons I'm so concerned about drawdown delays. If a 60 month loan opportunity takes two months to be drawn down but runs to term, then the lenders' return will be 60/62 of the nominal interest rate, which is no big deal. If, on the other hand, it's refinanced after a year then the factor is 12/14 and it becomes a lot more significant. And reading through the details of these opportunities, it wouldn't surprise me if some don't even last six months before being refinanced. The one exception to this is bridging loans where a fixed fee is charged for a loan of six months. In those cases, the borrower has a financial incentive to keep the loan until the last day. The most recent loan opportunity is an example of this -- the boiler installer needs working capital to replace that provided by their previous Assetz loan when that matures. The new loan was funded on 13/Dec but the previous loan is due as a single payment on 24/Jan, and I can see no reason why the borrower would want to draw down the new loan until then. So there's likely to be a six week gap between committing funds and having the new loan drawn down. Since the new loan is for only 12 months, lenders will receive only 52/58ths of the 10% rate (= 9%) even if it does run to term. Furthermore, the borrower has managed to reduce their working capital needs from £250k to £142k in just six months. If they continue to make progress at that rate, they won't need the new £142k loan for more than about 8 months. And if they pay off the new loan at that time, the lenders' return will be 35/41 of the 10% rate, which is 8.5%. That still may be an acceptable return to lenders, but they ought to be factoring that into their bidding decisions. I haven't a clue what proportion of lenders actually do that.
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mikeb
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Post by mikeb on Dec 17, 2013 19:30:20 GMT
Improvement, or a bug? but on the "Statement" page, neither the .csv or .xls button seem to do anything useful.
.csv drops a zero byte file.
.xls drops a skeleton/header of an xls file, but no content.
<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta name=ProgId content=Excel.Sheet><meta name=Generator content="https://github.com/sonata-project/exporter"></head><body><table></table></body></html>
I can see today's transactions on the webpage, so it's not that there's nothing to export!
This is in Firefox, if it matters ...
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Post by batchoy on Dec 17, 2013 19:58:24 GMT
Improvement, or a bug? but on the "Statement" page, neither the .csv or .xls button seem to do anything useful. .csv drops a zero byte file. .xls drops a skeleton/header of an xls file, but no content. <html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta name=ProgId content=Excel.Sheet><meta name=Generator content="https://github.com/sonata-project/exporter"></head><body><table></table></body></html>I can see today's transactions on the webpage, so it's not that there's nothing to export! This is in Firefox, if it matters ... Both work fine for me on chrome.
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Post by chris on Dec 17, 2013 22:26:51 GMT
Improvement, or a bug? but on the "Statement" page, neither the .csv or .xls button seem to do anything useful. .csv drops a zero byte file. .xls drops a skeleton/header of an xls file, but no content. <html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta name=ProgId content=Excel.Sheet><meta name=Generator content="https://github.com/sonata-project/exporter"></head><body><table></table></body></html>I can see today's transactions on the webpage, so it's not that there's nothing to export! This is in Firefox, if it matters ... I saw a timeout earlier today which could have related to this that the team are scheduled to investigate soon. The technique used by the developer who built that section is quick to implement but carries performance overhead (objects are hydrated for each row in memory which isn't efficient), and will be replaced with something more suitable in an update soon. In the mean time if you can't get it to work for you then let me know and I'll manually export the CSV for you.
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bugs4me
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Post by bugs4me on Dec 17, 2013 23:29:25 GMT
Improvement, or a bug? but on the "Statement" page, neither the .csv or .xls button seem to do anything useful. .csv drops a zero byte file. .xls drops a skeleton/header of an xls file, but no content. <html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta name=ProgId content=Excel.Sheet><meta name=Generator content="https://github.com/sonata-project/exporter"></head><body><table></table></body></html>I can see today's transactions on the webpage, so it's not that there's nothing to export! This is in Firefox, if it matters ... I saw a timeout earlier today which could have related to this that the team are scheduled to investigate soon. The technique used by the developer who built that section is quick to implement but carries performance overhead (objects are hydrated for each row in memory which isn't efficient), and will be replaced with something more suitable in an update soon. In the mean time if you can't get it to work for you then let me know and I'll manually export the CSV for you. Working on Firefox but only once. You then need to go to another page then back into the Financial Statement page. Then it works. Then go to somewhere else on the website and back into etc, etc. So looks like you get one bite of the cherry per view. Small bug. More of an inconvenience (possibly) than anything else.
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mikeb
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Post by mikeb on Dec 18, 2013 18:36:55 GMT
chris: Thanks for the offer of manual intervention, it seems to work now, given the trick posted by bugs4me (thanks -- would not have thought of page-jiggling to fix it!) The failed attempts were around 2013/12/17 10:07-10:08 and 19:16 according to the filenames, if that ties up to your logging showing timeouts, then that was probably me  I just tried again (2013/12/18 18:18) and both worked ok. Mike.
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Post by mrclondon on Dec 21, 2013 12:57:26 GMT
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Post by oldnick on Dec 26, 2013 22:27:28 GMT
Hi Chris,
Here's an extra request for the new year please. Can we order our loan units by start date, finish date, interest rate and so on? (Like the members list on this forum).
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mikes1531
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Post by mikes1531 on Dec 27, 2013 3:20:16 GMT
Here's an extra request for the new year please. Can we order our loan units by start date, finish date, interest rate and so on? It's probably covered by "and so on", but I'd add accrued interest to the above list. Why? If a loan suddenly appears at the top of that list, with nil AI, it means a payment has been received.
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j
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Post by j on Dec 27, 2013 5:21:00 GMT
Can we also include a facility which shows interest earned for any specific period of time minus any fees/charges (e.g. loan unit sale fees)? Thanks
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j
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Post by j on Dec 27, 2013 5:22:27 GMT
Here's an extra request for the new year please. Can we order our loan units by start date, finish date, interest rate and so on? It's probably covered by "and so on", but I'd add accrued interest to the above list. Why? If a loan suddenly appears at the top of that list, with nil AI, it means a payment has been received. Mike, its good to see I'm not the only one awake at this time of day! I was beginning to get worried!
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Post by pepperpot on Jan 3, 2014 13:40:24 GMT
Could we add the possibility of retracting a loan part from sale? If I see something on the aftermarket that I want to diversify into, and therefore put some parts up for sale, I'd like to be able to de-list my loan parts if what I want to buy gets snapped up before mine has sold. Although just thought while writing this that with no fees, I might be able to just buy my own loan parts???  Would that cause a problem? P.S. good move with the aftermarket fees, the best course of action is often the simplest! And Happy New Year all!! |
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j
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Post by j on Jan 3, 2014 13:53:37 GMT
Could we add the possibility of retracting a loan part from sale? If I see something on the aftermarket that I want to diversify into, and therefore put some parts up for sale, I'd like to be able to de-list my loan parts if what I want to buy gets snapped up before mine has sold. Although just thought while writing this that with no fees, I might be able to just buy my own loan parts??? Would that cause a problem? P.S. good move with the aftermarket fees, the best course of action is often the simplest! And Happy New Year all!! pepperpot, you can buy it back. A few weeks ago, I listed some units for sale & entered too many in error, bought a few back a few minutes later, but was obviously charged the 0.35% fee, which does not apply anymore. Hope AC can confirm that this is still the case.
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Would that cause a problem?