|
|
Post by inandout on Jan 18, 2021 20:06:00 GMT
So nothing I can do except wait?  Are these riskier loan? What is the reason for AC not allowing selling, did they say??? |
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,057
Likes: 617
|
Post by dave4 on Jan 18, 2021 21:13:14 GMT
Check on the AC website.
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Jan 18, 2021 21:19:36 GMT
Just got the thick end of £5k away @ 1%
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329 
Likes: 11,549
|
Post by ilmoro on Jan 18, 2021 21:42:02 GMT
So nothing I can do except wait? Are these riskier loan? What is the reason for AC not allowing selling, did they say??? Not how the accounts work. They aren't self select or 'fund' accounts so no real mechanism, particularly as in winddown so no new investment allowed. Unlikely many loans are tradeable as probably most in default.
|
|
|
|
Post by Harland Kearney on Jan 18, 2021 22:09:31 GMT
As someboy who sold around the 6% mark (my non-ISA wrapped funds) yes it is unfontunate. However, needing to reduce my exposure to a Peer to Peer company in distress took presidence over what was a few hundread quid to exit to be able to sleep better, but what could possibly (from the bottom of the forum) turned into 10,000's of losses seemed like a wise move. I really don't think that peoples concerns 6 months ago were invalid, or are invalid today. Even with the sub 1% discount we are seeing. But if you were to put me in the same postion again, when you weigh up the issues of Peer to Peer companies in distress, taking the 5-6% loss over the possible 50% loss looked attractive. I subscribe to the mantra that if you have to deeply question a investment you shouldn't be holding it in the first place, this has served me well on the market and I think it holds true in P2P. I am still invested in Peer to Peer with AC, just not any exposure over 10% of my greater portfolio. I'm a big fan of Loan Pad at the moment. I would say that comparing the "panic selling" seen on the stock market to this Peer to Peer market are two diffrent things, I would say that the risk here was 10x greater of complete capital loss at Assetz Capital than the market crash in early 2020. I invested funds (and funds that I sold from AC) into the market and I am up 30%, not something even flippers could say for AC right now. On a brighter note, my ISA exposure I intend to hold in the 90 daa for the foreseeable future, I may reduce exposure or sell into cash to transfer out. I am not overly optimistic on AC, but I am also not as pessmisitic. It is also good in general to see discounts low, thrus my investments I still hold here are technically recovering its value? AC AA SM is most certainly the strangest P2P invention this year! Funny I never saw AC as an investment; just a form of bank account. That said out of adversity I have diverted a good few quid into BridgeCrowd / Somo where all my 30 plus loans are 1st charge, averaging LTV sub 50% (won’t loan at over 60%) average interest 9% - & they’ve not a penny lost, and are very liquid. Loan pad - I hadn’t heard of prior to your post - but appears to be something to replace MARCUS as my go to ‘Bank Account’. As regards the Markets since the 90s I’ve been fortunate enough to be able to invest my full ISA allowance in funds. My positioning in technology & Biotechs has paid huge dividends - that said I think the markets are overpriced, however said I said that 18 months ago. Your brave to use them as a bank account, but I too used AC thoughout 2017-2020 as a parking space for QAA cash before putting it into longer term investments (Like equitiy ect) Loanpad is interesting, but if you sign up, make sure to get the bonus offering for your inital investment. Loanpad had no liqudidity lockout during March 2020, there is a loanpad section in the smaller platform area. Worth a read though its post history to see how people were reacting ect. Very interesting and alot of support for Loanpad. The commuication seemed very good, as opposed to we know who during that time.
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Jan 19, 2021 6:41:37 GMT
Thankyou Harland I really appreciate the tip.
It looks like an ideal replacement for Santander 123 & Assetz Capital accounts.
The exposure looks minimal.
On the 60 day account I take it you can stage the withdrawals ie £25k every 15 days in a £100k deposit to effectively take the notice date down to 30 days ?
As regards the 3% account given its limited to £20k is rolled over interest compounded?
|
|
|
|
Post by Ace on Jan 19, 2021 8:50:40 GMT
Thankyou Harland I really appreciate the tip. It looks like an ideal replacement for Santander 123 & Assetz Capital accounts. The exposure looks minimal. On the 60 day account I take it you can stage the withdrawals ie £25k every 15 days in a £100k deposit to effectively take the notice date down to 30 days ? As regards the 3% account given its limited to £20k is rolled over interest compounded? Yes, you can use the rolling withdrawal technique to reduce the access time from the premium account. I use weekly withdrawal requests of 1/9th of the balance and cancel the withdrawals the day before they are due if not required. All interest is paid to the cash accounts. You can set up to auto invest from there to either account. It will only invest in multiples of £10.
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Jan 19, 2021 9:58:07 GMT
Thankyou Harland I really appreciate the tip. It looks like an ideal replacement for Santander 123 & Assetz Capital accounts. The exposure looks minimal. On the 60 day account I take it you can stage the withdrawals ie £25k every 15 days in a £100k deposit to effectively take the notice date down to 30 days ? As regards the 3% account given its limited to £20k is rolled over interest compounded? Yes, you can use the rolling withdrawal technique to reduce the access time from the premium account. I use weekly withdrawal requests of 1/9th of the balance and cancel the withdrawals the day before they are due if not required. All interest is paid to the cash accounts. You can set up to auto invest from there to either account. It will only invest in multiples of £10. Thanks lads - I think between loanpad and Somo we have; AC as was; with accurate valuations/ LTVs and management you can trust. It shouldn’t be hard for the concept to work however like everything once investor confidence is gone it’s gone.
|
|
|
|
Post by oppsididitagain on Jan 19, 2021 13:08:55 GMT
WOW. 0.9 / 1.0. in at least 3K
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Jan 19, 2021 13:27:22 GMT
Great news ....would expect a fall to sub 0.5% 1/2/21
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Jan 19, 2021 13:34:47 GMT
Great news ....would expect a fall to sub 0.5% 1/2/21 Not entirely sure why people would invest with so low a discount without the end of the queuing system/tiny liquidity - but then I am a seller at current ~1% discounts (just got some out at 0.9%)!
|
|
ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
|
Post by ashtondav on Jan 19, 2021 13:42:20 GMT
Great news ....would expect a fall to sub 0.5% 1/2/21 Not entirely sure why people would invest with so low a discount without the end of the queuing system/tiny liquidity - but then I am a seller at current ~1% discounts (just got some out at 0.9%)! Because the interest rate is >6x the risk free rate. And you can now exit at <1%. Personally I am investing repayments in loanpad and Proplend but only because I am ridiculously overweight A/C in my p2p portfolio.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Jan 19, 2021 13:53:43 GMT
Not entirely sure why people would invest with so low a discount without the end of the queuing system/tiny liquidity - but then I am a seller at current ~1% discounts (just got some out at 0.9%)! Personally I am investing repayments in loanpad and Proplend but only because I am ridiculously overweight A/C in my p2p portfolio. Sure, but any increase in the discount and your return is massively reduced if you want any access to the money. It's a gamble, and you are stuck in it if it turns against you. Anyway, each to their own - I am delighted to be getting out at 0.9% (or less - lets see if my 0.6-0.8% offers get taken up).
|
|
rscal
Posts: 985
Likes: 537
|
Post by rscal on Jan 19, 2021 14:00:38 GMT
Because the interest rate is >6x the risk free rate. And you can now exit at <1%.Personally I am investing repayments in loanpad and Proplend but only because I am ridiculously overweight A/C in my p2p portfolio. Sure, but any increase in the discount and your return is massively reduced if you want any access to the money. It's a gamble, and you are stuck in it if it turns against you. Anyway, each to their own - I am delighted to be getting out at 0.9% (or less - lets see if my 0.6-0.8% offers get taken up). From your reply were you using one of a series of limit instructions to sell just now?
|
|
ceejay
Posts: 975
Likes: 1,149
|
Post by ceejay on Jan 19, 2021 14:25:57 GMT
Great news ....would expect a fall to sub 0.5% 1/2/21 Not entirely sure why people would invest with so low a discount without the end of the queuing system/tiny liquidity - but then I am a seller at current ~1% discounts (just got some out at 0.9%)! You don't have to be a net investor to be buying ... if your strategy is to hold then it makes sense, if you have the spare time to keep pressing buttons, to withdraw and recycle. Once you've reduced your AC holdings to a level you are comfortable with it makes sense to buy small amounts at almost any discount.
|
|
