|
|
Post by siatou on Dec 7, 2014 18:10:53 GMT
Apologies to all if this has been discussed elsewhere. Just point me in the right direction
Every so often the target figure for one of my loans keeps increasing (mostly by very small amounts). The latest is on loan 40 where it has increased from £557.72 to £566.28 (increase of £8.56). This doesn't matter as WITHDRAW PAYMENTS is set so it never gets activated. BUT when I move, say, £500 from cash to MLIA to invest in a loan before amending the target date (and any others that have occurred) it can activate and my £500 doesn't all go to my intended loan.
Is my account the only one that it is occurring on ? Or is there something I can set (ON or OFF) to stop it happening. Or ...... !!
Trust this is understandable and Many Thanks in advance for all the advice I'm sure to get.
|
|
|
|
Post by Come_on_Grandad on Dec 7, 2014 19:19:26 GMT
Apologies to all if this has been discussed elsewhere. Just point me in the right direction
Every so often the target figure for one of my loans keeps increasing (mostly by very small amounts). The latest is on loan 40 where it has increased from £557.72 to £566.28 (increase of £8.56). This doesn't matter as WITHDRAW PAYMENTS is set so it never gets activated. BUT when I move, say, £500 from cash to MLIA to invest in a loan before amending the target date (and any others that have occurred) it can activate and my £500 doesn't all go to my intended loan.
Is my account the only one that it is occurring on ? Or is there something I can set (ON or OFF) to stop it happening. Or ...... !!
Trust this is understandable and Many Thanks in advance for all the advice I'm sure to get. If you look closely, I think you will find that your target is being held constant but, for amortising loans like 40, each monthly interest payment is accompanied by a small repayment of capital which decreases your holding. Because your target now exceeds your holding, it is possible that as you move money in, some could be used to plug this gap. The new system has been criticised for this behaviour, most thinking that for amortising loans your target should be decreased in line with your holding so that the amortisation is respected. Perhaps there will be a design rethink once the dust has settled. Meanwhile, you can stop the unwanted topping up behaviour, on an individual loan basis, by toggling the green enable/disable switch so that the loan displays as MANUAL INVEST DISABLED.
|
|
|
|
Post by siatou on Dec 7, 2014 19:24:53 GMT
Many Thanks.
|
|
|
|
Post by Jack Barlow on Dec 7, 2014 19:38:46 GMT
As stated by Come_on_Grandad, to ensure your new money all gets invested in the correct loan you currently have to disable investment (or set target <= holding) for each of the other AC loans before transferring the money into the MLIA. This can be a real pain if you have a large number of loans set with target>holding in order to automatically reinvest your regular interest and capital repayments. chris has hinted that he might look into introducing an easier way to allow you to prioritise investment in a particular loan in order to avoid having to go through the tedious disable/invest/enable process: p2pindependentforum.com/post/27708/thread. |
|
|
|
Post by Ton ⓉⓞⓃ on Dec 7, 2014 22:00:01 GMT
As stated by Come_on_Grandad, to ensure your new money all gets invested in the correct loan you currently have to disable investment (or set target <= holding) for each of the other AC loans before transferring the money into the MLIA. This can be a real pain if you have a large number of loans set with target>holding in order to automatically reinvest your regular interest and capital repayments. chris has hinted that he might look into introducing an easier way to allow you to prioritise investment in a particular loan in order to avoid having to go through the tedious disable/invest/enable process: p2pindependentforum.com/post/27708/thread. At the time I was glad to hear that Chris was going to look at it again, but to my surprise I think I prefer that we can now in effect decide which loans we want to amortize; superseding the original design of the loan to the Borrower. As there are several loans I'm happy to keep buying more as it amortizes but that does not all of them! So if Chris keeps it the same some are going to be annoyed if he changes it others are going to be annoyed. I wonder if originally if the system was conceived this why so that there would tend to be a lot of trading in loans so that they would be fluid rather than illiquid; creating a more successful market.
|
|
|
|
Post by Jack Barlow on Dec 7, 2014 23:16:40 GMT
Ton ⓉⓞⓃ, I think we are maybe talking about two different things. At the moment, if you want to invest new money into a specific loan, the only way you can guarantee that money doesn't unintentionally get diverted into an alternative loan is to temporarily deactivate or reset all targets for which you've set the target greater than your current holding while you transfer the new money into the MLIA then purchase the specific loan you want. My suggestion to chris was to allow any particular loan to be prioritised for investment so that in the above scenario when you transfer the new money into the MLIA you don't have to deactivate then reactivate the targets on all the other loans. Like you, I'm content with the current option of being able to choose which amortised loans do or don't retain their targets after each capital repayment (which works well apart from the above issue), and wouldn't want to see that aspect of the software changed.
|
|
