ian
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Post by ian on Sept 19, 2020 5:58:48 GMT
Hi Stuart
What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average).
6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt.
Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows.
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johni
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Post by johni on Sept 19, 2020 8:55:50 GMT
Hi Stuart What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average). 6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt. Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows. As you well know you signed up to the terms and conditions. This clearly stated that a capital may not be available straight away and your capital is at risk. When you step out of the door is it normal ie same as February? Are 100000's loosing their jobs? Businesses closing down daily? So obviously not normal It will take 5 years for your capital to be fully returned if no new loans are written. This obviously can't happen as there is a queue to withdraw no new money to loan unless you are happy for some repayments to go to new loans? So how long is a piece of string? Not 1 economist can tell you how long this will go on for. Nor can the bank of England as proved this week The account names are irrelevant and it clearly states that you will not be able to access your money if you invest for new investors. So Ian answer the question when will access accounts return to normal? I believe it is impossible to answer at present in fact I would say at present for at least the next 6 months there will be no change. Have a good weekend.
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blender
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Post by blender on Sept 19, 2020 10:00:53 GMT
Hi johni . If you took the time to read and understand the questions that Ian asked then you would not need to provide a pointless critical commentary on things he did not say or ask. Where does he ask when the accounts will return to normal? He does not, he says that this is the new normal and the account names are misleading. Why not allow Stuart the organ grinder to reply for himself? We could both delete our posts and improve this thread.
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ian
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Post by ian on Sept 19, 2020 11:02:57 GMT
Hi Stuart What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average). 6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt. Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows. As you well know you signed up to the terms and conditions. This clearly stated that a capital may not be available straight away and your capital is at risk. When you step out of the door is it normal ie same as February? Are 100000's loosing their jobs? Businesses closing down daily? So obviously not normal It will take 5 years for your capital to be fully returned if no new loans are written. This obviously can't happen as there is a queue to withdraw no new money to loan unless you are happy for some repayments to go to new loans? So how long is a piece of string? Not 1 economist can tell you how long this will go on for. Nor can the bank of England as proved this week The account names are irrelevant and it clearly states that you will not be able to access your money if you invest for new investors. So Ian answer the question when will access accounts return to normal? I believe it is impossible to answer at present in fact I would say at present for at least the next 6 months there will be no change. Have a good weekend. I’m not at all interested in your opinion ... my question was directed at Stuart not some AC sycophant who appears unable to comprehend that there clearly is an answer to my questions.
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alanh
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Post by alanh on Sept 19, 2020 12:13:34 GMT
Hi Stuart What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average). 6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt. Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows. Perfectly reasonable set of questions directed to a platform which is acting as a custodian of investor's money. Unfortunately I very much doubt you will get any form of useful answer whatsoever. You may of course be told that this is a great question to "ask the panel" - and then wait 2 months to not get any form of straight answer from them either.
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jlend
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Post by jlend on Sept 24, 2020 7:00:45 GMT
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jlend
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Post by jlend on Sept 27, 2020 10:50:22 GMT
Given that stuartassetzcapital didn't start the thread, I suppose it is not really a valid place to ask questions. I am however an optimist (and a little curious to see if i get a response on a Sunday). I have made a small investment in the 'access' accounts to see what loans are held, most are relatively informative however all the trading paused loans seem to have the information blocked, this seem odd as surely these are the ones that have the best tales to tell. Given I get the following information displayed twice on the page..... Trading is currently suspended on this loan. Please check the loan's updates tab for more information. Could you give the rationale for it not being available? On a positive note, I quite like the platform layout. You need to have at least 1 pound invested in suspended loans to see the updates. This makes it difficult to assess the accounts if you just want to get an idea before investing more money.
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Post by stuartassetzcapital on Sept 27, 2020 13:56:52 GMT
No, it’s actually to protect lenders by not publishing information unnecessarily on a problem loan that could be read by outsiders and used against the best outcome for lenders. As no one can trade a suspended loan in MLA hiding some information from casual observers is fine. And in the AAs there is provision fund ring fencing to protect trade-able but suspended loans so again no need to disclose unnecessarily. If someone is already in a loan manually they of course get everything. Sometimes, but not often, too much transparency can cause lender harm and there must be limits to the open book nature of P2P for that reason. Imagine publishing an internal view that we expect to get back Xp in the £ on a loan, that would just invite and guide low offers in a recovery for example. There are many more examples.
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ian
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Post by ian on Sept 27, 2020 14:14:12 GMT
Hi Stuart What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average). 6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt. Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows. Any chance of an answer ??
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ian
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Post by ian on Sept 27, 2020 14:16:17 GMT
Hi Stuart
Final question Eagerly awaiting responses - For a number of years you have given new investors preferential rates to the detriment of current investors; Typically an additional 1% for investing for 6 month.
Presently you reward new investors with a 7.5 - 10% discount when investing in the access accounts. (Little wonder we feel a tad aggrieved). Have you ever considered rewarding loyalty giving long term investors or investors with larger balances?
To reiterate the point exactly what is the incentive to keep funds invested? Anyone wishing to remain invested is better off withdrawing funds & then reinvesting at 8 - 10% discount. Observation - possibly the biggest consequence of the SM is that the most profitable way to stay invested now, is to put one's money on withdrawal, get the payout, & then re-invest at discount - repeat. As an organisation made great play of investors “Gaming the Market” - that’s exactly what you’ve created!
Finally - AC have introduced additional fees (borrower & lender) to enhance their margin, whilst reducing lender interest rates. The only party not suffering any loss of return is AC itself. Indeed you could argue AC potentially have the benefit of enhanced earnings from default interest / fees - which is not passed on to the Access Account / GBBA investors. Will AC consider passing on some of the upside to investors ? After all you did say cash & profits were up at AC.
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criston
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Post by criston on Sept 27, 2020 14:18:52 GMT
Is the CBILS borrower fee, paid to you by the government, a set percentage; or does it vary from loan to loan; or is the same for all lending companies.
Are you still speedily increasing your exposure to CBILS & therefore getting closer to dropping the lender fee.
Please advise.
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Post by honda2ner on Sept 27, 2020 18:59:00 GMT
Hi Stuart What’s the plan to get the access accounts (which presently contravene trade descriptions / adverting standards) moving again. I have declined the opportunity to make a capital loss of 8% plus on my money and have only managed to withdraw less than 7.5% of my capital over the past 6 months - which should have been available within 15 days (average). 6months down the line I would argue this is the new normal market conditions as the true financial impact is yet to be felt. Please give us all an indication of how much was held in the Access accounts. How much is held now and what commitment you have to further tranches. Based on that when will 100% of redeemed capital be returned to investors and given the maximum term of your loans is 5 years what % of our capital can we expect to get each quarter in the next 4 & a half years while these loans unwind (hopefully). You as a business must have modelled this please share the information so investors can plan their own personal cash flows. Any chance of an answer ?? And now for a more sensible question... Stuart please tell us, how long is a piece of string? Tell us, tell us, tell us. If you don't answer I will ask some even more daft questions that nobody can answer without guessing.
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Post by honda2ner on Sept 27, 2020 19:00:37 GMT
Hi Stuart Final question Eagerly awaiting responses - For a number of years you have given new investors preferential rates to the detriment of current investors; Typically an additional 1% for investing for 6 month. Presently you reward new investors with a 7.5 - 10% discount when investing in the access accounts. (Little wonder we feel a tad aggrieved). Have you ever considered rewarding loyalty giving long term investors or investors with larger balances? To reiterate the point exactly what is the incentive to keep funds invested? Anyone wishing to remain invested is better off withdrawing funds & then reinvesting at 8 - 10% discount. Observation - possibly the biggest consequence of the SM is that the most profitable way to stay invested now, is to put one's money on withdrawal, get the payout, & then re-invest at discount - repeat. As an organisation made great play of investors “Gaming the Market” - that’s exactly what you’ve created! Finally - AC have introduced additional fees (borrower & lender) to enhance their margin, whilst reducing lender interest rates. The only party not suffering any loss of return is AC itself. Indeed you could argue AC potentially have the benefit of enhanced earnings from default interest / fees - which is not passed on to the Access Account / GBBA investors. Will AC consider passing on some of the upside to investors ? After all you did say cash & profits were up at AC. Stuart never said profits were up, stop making things up.
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Post by stuartassetzcapital on Sept 27, 2020 20:36:33 GMT
No, it’s actually to protect lenders by not publishing information unnecessarily on a problem loan that could be read by outsiders and used against the best outcome for lenders. As no one can trade a suspended loan in MLA hiding some information from casual observers is fine. And in the AAs there is provision fund ring fencing to protect trade-able but suspended loans so again no need to disclose unnecessarily. If someone is already in a loan manually they of course get everything. Sometimes, but not often, too much transparency can cause lender harm and there must be limits to the open book nature of P2P for that reason. Imagine publishing an internal view that we expect to get back Xp in the £ on a loan, that would just invite and guide low offers in a recovery for example. There are many more examples. I had automatically assumed any sensitive details would be concealed, maybe I should have included that detail but took that as a given. I sometimes forget the entrenched positions that seem to have been taken on the forum and that defensive positions are taken in responses and had hoped for helpful. It is the somewhat sledgehammer nut ratio that is unhelpful in making any opinion on the underlying loan useful. Or should I not be doing any due diligence at all? which seems implied somewhat in the answer. You are effectively prevented from doing due diligence on a loan that you couldn't actually manually invest in in any case due to its suspension, yes. P2P doesn't conceal much information, or at least it doesn't if it wishes to have a meaningful and fair manual lending marketplace, but sometimes it must avoid wild disregard of lenders' best interests and be limited in what is published at sensitive moments.
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blender
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Post by blender on Sept 27, 2020 21:15:03 GMT
It was similar with FC. You could see the details only of loans you held or could purchase on the PM or SM. They once were proud of having a full anonymised loan book that lenders could download and analyse. I wonder what happened to that? AC provide rather more info for loans in which you can choose to lend, including a listing.
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