warn
Member of DD Central
Curmudgeon
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Post by warn on Oct 30, 2020 11:29:23 GMT
On what basis are people BUYING at a <5% discount? Well, it's a long shot, but might it be that not everyone completely shares your assessment of the value of the product? Hard to fathom, I know, but it takes all sorts.
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Doc
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Post by Doc on Oct 30, 2020 11:35:53 GMT
5% bid gone, currently 4.9-5.0.
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markdirac
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Post by markdirac on Oct 30, 2020 11:38:55 GMT
Thanks dead money. So, I've hit the end of my 30-day notice to withdraw to cash and the leaves are gently rustling. Have I understood correctly that if I want to transfer to QAA (to use the market) that (a) I have to switch all my AA, not part (which is what you just said) AND (b) I have to restart the 30-day notice wait again?
Or, can I transfer my (whole) account to QAA immediately?
(It seems if I click the button something unexpected, counter-intuitive and infuriating may very well happen.)
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dead-money
Rocket to the Moon
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Post by dead-money on Oct 30, 2020 11:41:23 GMT
Can't immediately see the answer to this on the platform - what happens with accrued interest when you sell? If you sell at the end of the month, do you just forego it? Or are you still paid whatever interest you accrued when it's next paid? Like all things AC, interest is calculated down to the nano second and nano penny, so even if you clear your holding, you still have an accurred interest entitlement, which you'll receive as and when and at the rate they determine. NB The Accurred interest Stat on the dashboard, no longer includes Access Account interest, only the Manual Lending Account.
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dead-money
Rocket to the Moon
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Post by dead-money on Oct 30, 2020 11:46:40 GMT
Thanks dead money. So, I've hit the end of my 30-day notice to withdraw to cash and the leaves are gently rustling. Have I understood correctly that if I want to transfer to QAA (to use the market) that (a) I have to switch all my AA, not part (which is what you just said) AND (b) I have to restart the 30-day notice wait again?
Or, can I transfer my (whole) account to QAA immediately?
(It seems if I click the button something unexpected, counter-intuitive and infuriating may very well happen.) Yes, the UI is definitely counter-intuitive and the text confusing and subject to continuous tinkering; give AC customer service a call and they can talk you through it.
On your Pending Withdrawals page, those withdrawal requests which have served notice are at the bottom. It's the 'Cancel/Transfer' button (great combination, not!)
What options you get thereafter I can't recall and if you get it wrong you go back to restarting notice, so proceed with caution!
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Doc
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Post by Doc on Oct 30, 2020 13:18:41 GMT
On what basis are people BUYING at a <5% discount? Assetz's articles on P2P News everyday for the last 3 days now - hopefully all this positive news will result in lower QAA discounts and the reduction/end of the lender fee. 
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Post by Harland Kearney on Oct 30, 2020 13:38:58 GMT
On what basis are people BUYING at a <5% discount? Each context is unqiue, I think for alot of investors right now know there is not much other places to hold the money, if you sell and hold as cash you are losing money in this envioment daily. This being if you are already weighted in stocks & the few good bonds you can find around. Cash savings are pitful and can act as nothing more than a cash postion to hedging equities. For me, if there were more cash options for good paying interest for funds that I withdraw from AC elsewhere I would. I gave myself a 10% max allocation into P2P hair cut and remain posed that way. Interest in 90daa along with the 1% cashback bonus and the entry bonus is actually not too shabby. AC outlook is not as grim as it was even 3 months ago. With loan 227 also gone for good, its a big black mark removed from AC current over hanging portfilio. Although I'm not hopefuly to the remainder of the GBBA series 1 PF (only got 5 quid left in that, luckier than others in the lotto gbba) I've both supported and disapproved of AC since March, more supported up until they sent out that email and began having a heckles with posters here. It was quite unprofessional. However, with all this supposed "matching" of loan output, we would hope to see a end to lender fees as soon as possible. Otherwise my support will quickly turn again to disapporval!
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Post by amassivezebra on Oct 30, 2020 14:07:30 GMT
If you make a withdrawal request at a discount rate that is not currently matched, do you still get the disposals at par when money is repaid by the borrowers, or do you receive nothing until someone is willing to pay your discount rate?
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Oct 30, 2020 14:18:14 GMT
QAA,sm 4.5% discount funds available now
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Doc
Member of DD Central
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Post by Doc on Oct 30, 2020 14:50:04 GMT
QAA,sm 4.5% discount funds available now End of month interest should give the discount another push down tomorrow, sub 4%?
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dead-money
Rocket to the Moon
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Post by dead-money on Oct 30, 2020 15:14:49 GMT
If you make a withdrawal request at a discount rate that is not currently matched, do you still get the disposals at par when money is repaid by the borrowers, or do you receive nothing until someone is willing to pay your discount rate? Capital repayments are distributed to the earliest withdrawal request in each Access Account you have, amount is pro-rata to your total holding within that Access Account. Doesn't matter whether that withdrawal is at 0% or 90%.
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ian
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Post by ian on Oct 30, 2020 17:07:20 GMT
QAA,sm 4.5% discount funds available now End of month interest should give the discount another push down tomorrow, sub 4%? I agree those buying 2% discount 6 months interest would seem a fair trade  ?
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ashtondav
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Post by ashtondav on Oct 30, 2020 17:47:13 GMT
Under a normal economy buying at par is reasonable. We are nowhere NEAR operating as a normal economy.
A 4% discount seems insanely low to me. There must be few sellers and many buyers, but it doesn't make sense to me.
Or are there some very clever buyers out there who see "value! at a 4% discount.
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Post by Ton ⓉⓞⓃ on Oct 30, 2020 17:54:00 GMT
Under a normal economy buying at par is reasonable. We are nowhere NEAR operating as a normal economy.
A 4% discount seems insanely low to me. There must be few sellers and many buyers, but it doesn't make sense to me.
Or are there some very clever buyers out there who see "value! at a 4% discount.
Don't forget that a lot of AC loans are Dev's and house prices are holding up for now - after March might be another story when the Stamp holiday ends
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Doc
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Post by Doc on Oct 30, 2020 17:55:29 GMT
.... meanwhile, discount appears to be moving higher .... Jolly good. Those pesky sellers were trying to get it down below 5%. I reckon most of us buyers want it north of 8%. I’ve got quite a wedge building up between 8% and 9%. sub 5%, those pesky sellers ey
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