dead-money
Rocket to the Moon
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Post by dead-money on Aug 12, 2020 16:51:18 GMT
I've placed bids at 20%, 15% & 10%, will check in the morning whether they pick up some nibbles.
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agent69
Member of DD Central
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Post by agent69 on Aug 12, 2020 16:56:53 GMT
Why is it that when I press the invest button it says best offer is 5.7%, but when I press withdraw it says I have to offer 7.4% for immediate sale?
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Post by Harland Kearney on Aug 12, 2020 16:57:58 GMT
Why is it that when I press the invest button it says best offer is 5.7%, but when I press withdraw it says I have to offer 7.4% for immediate sale? Somebody selling at 5.7% and somebody buying at 7.4%?
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agent69
Member of DD Central
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Post by agent69 on Aug 12, 2020 16:58:50 GMT
I've placed bids at 20%, 15% & 10%, will check in the morning whether they pick up some nibbles. I think you can probably enjoy a lie in
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star dust
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Post by star dust on Aug 12, 2020 17:10:25 GMT
Why is it that when I press the invest button it says best offer is 5.7%, but when I press withdraw it says I have to offer 7.4% for immediate sale? Where does it say that? This is what I get
The Discount button gives no further information apart from
I was wondering whether this system disadvantages sellers? If you’re withdrawing from all markets you can’t see what the discount rate currently is, so you might offer a higher discount say 10% but maybe there is an unfulfilled order to purchase more than you are offering at 7% discount. Would you have to be matched at exactly 10%? Or will the system match you at what is available at a discount below 10% first? However, maybe there's a bug on my dashboard? I've made a few sell orders and have never been offered a discount to sell at immediately.
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puddleduck
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Post by puddleduck on Aug 12, 2020 17:48:39 GMT
There is at least 30k available at 6.2% now, so looks like the 5.5%'ers have discounted a bit more.
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agent69
Member of DD Central
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Post by agent69 on Aug 12, 2020 17:52:58 GMT
Why is it that when I press the invest button it says best offer is 5.7%, but when I press withdraw it says I have to offer 7.4% for immediate sale? Where does it say that?
Click on withdraw and then discounting options. Enter a high number (say 20%) and it will tell you what you need to offer for an immediate sale (currently 8.5%).
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iRobot
Member of DD Central
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Post by iRobot on Aug 12, 2020 17:53:40 GMT
There is at least 30k available at 6.2% now, so looks like the 5.5%'ers have discounted a bit more. Or is it new money entering the market? Without a 'whole-of-market' overview, who knows? (Well AC do, obvs. But in terms of actual market participants ... )
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IFISAcava
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Post by IFISAcava on Aug 12, 2020 17:57:01 GMT
I haven't understood whether if you offer to sell at a discount you continue to get the small pro-rata daily capital repayments as the underlying loans repay - is this covered in the guidance anywhere?
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Post by angel19 on Aug 12, 2020 18:07:13 GMT
I haven't understood whether if you offer to sell at a discount you continue to get the small pro-rata daily capital repayments as the underlying loans repay - is this covered in the guidance anywhere? Only at par (ie zero discount) withdrawals will get any of the pro-rata capital repayments. Discounted withdrawals will only be satisfied by a purchase in the market place.
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SteveT
Member of DD Central
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Post by SteveT on Aug 12, 2020 18:20:34 GMT
I haven't understood whether if you offer to sell at a discount you continue to get the small pro-rata daily capital repayments as the underlying loans repay - is this covered in the guidance anywhere? Only at par (ie zero discount) withdrawals will get any of the pro-rata capital repayments. Discounted withdrawals will only be satisfied by a purchase in the market place. Reference?
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 12, 2020 18:28:03 GMT
I haven't understood whether if you offer to sell at a discount you continue to get the small pro-rata daily capital repayments as the underlying loans repay - is this covered in the guidance anywhere? Only at par (ie zero discount) withdrawals will get any of the pro-rata capital repayments. Discounted withdrawals will only be satisfied by a purchase in the market place. Whilst awaiting exit you should still receive any distributions of capital and interest pro-rata to your total access account holdings.
Nothing on the dialog boxes or in the emails states that joining the exit queue makes your holdings ineligible for distributions.
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ceejay
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Post by ceejay on Aug 12, 2020 18:32:07 GMT
Only at par (ie zero discount) withdrawals will get any of the pro-rata capital repayments. Discounted withdrawals will only be satisfied by a purchase in the market place. Whilst awaiting exit you should still receive any distributions of capital and interest pro-rata to your total access account holdings.
Nothing on the dialog boxes or in the emails states that joining the exit queue makes your holdings ineligible for distributions.
I think someone might have read too much into "These “at par” withdrawal requests will continue to receive pro-rated distribution of loan redemptions and new investment at par value and be fulfilled over time." Ref: www.assetzcapital.co.uk/invest/access-account-marketplace - How does it work? ... which is just telling us that the current gradual repayments will continue if you keep your withdrawal request open
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rscal
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Post by rscal on Aug 12, 2020 19:34:53 GMT
Whilst awaiting exit you should still receive any distributions of capital and interest pro-rata to your total access account holdings.
Nothing on the dialog boxes or in the emails states that joining the exit queue makes your holdings ineligible for distributions.
I think someone might have read too much into "These “at par” withdrawal requests will continue to receive pro-rated distribution of loan redemptions and new investment at par value and be fulfilled over time." Ref: www.assetzcapital.co.uk/invest/access-account-marketplace - How does it work? ... which is just telling us that the current gradual repayments will continue if you keep your withdrawal request open I raised this q on the other thread. So for the avoidance of doubt, you can 're-enter' at par distributions after buying at discount at any time and you will qualify for the next 'event' (say tomorrow's) without there being a 'queue' entailed? That was my experience back when we still have 'equal-value' distributions and my amount to withdraw was met - so that one day's distribution was missed but when I reinstated a further withdrawal it went 'to the front' and qualified just as before for the next day's one. [Or is there now a queue in effect on the at par withdrawal system?] time will reveal the answer.
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IFISAcava
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Post by IFISAcava on Aug 12, 2020 20:18:17 GMT
Until it is clarified, I will leave things as they are so as to continue to get the dribbles of repayment and some interest. It really ought to be that you still get the pro-rata repayments.
My other concern is that the more loans that are repaid while no new loans are written, the worse the overall loanbook becomes as defaulted and troubled loans take an ever greater share of the pot
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