alender
Member of DD Central
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Post by alender on Oct 18, 2020 14:08:22 GMT
investors receive good returns and borrowers are supported through this too. You say this again but in a different way and still no answer so I will try again with my original question asked because of a statement you made.
How are your lenders making a profit for the last 6 months, the AAs interest rate has been reduced and because of the lock in the only way out is the SM given the discounts of say 8% (now perhaps 7), QAA interest of 1.875% (3.75%*6/12), looks like a loss of approx 6.125% less a little as the rate was not reduce at the start.
However we can all see how borrowers like D******d M***** Limited are being supported.
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ian
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Post by ian on Oct 18, 2020 14:28:33 GMT
investors receive good returns and borrowers are supported through this too. You say this again but but in a different way and still no answer so I will try again with my original question asked because of a statement you made.
How are your lenders making a profit for the last 6 months, the AAs interest rate has been reduced and because of the lock in the only way out is the SM given the discounts of say 8% (now perhaps 7), QAA interest of 1.875% (3.75%*6/12), looks like a loss of approx 6.125% less a little as the rate was not reduce at the start.
However we can all see how borrowers like D******d M***** Limited are being supported.
Investors clearly do not receive good returns or else they would not wish to leave the accounts. The only reason they remain is because they’re trapped. BTW stuart@assetz - Any chance of divulging how much of the £180m is in withdrawal and when you project all investors redeemed Capital will be returned to investors (a date please). Rather than retained by AC to fund new loans against our wishes
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alanh
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Post by alanh on Oct 18, 2020 15:41:48 GMT
investors receive good returns and borrowers are supported through this too. You say this again but in a different way and still no answer so I will try again with my original question asked because of a statement you made.
How are your lenders making a profit for the last 6 months, the AAs interest rate has been reduced and because of the lock in the only way out is the SM given the discounts of say 8% (now perhaps 7), QAA interest of 1.875% (3.75%*6/12), looks like a loss of approx 6.125% less a little as the rate was not reduce at the start.
However we can all see how borrowers like D******d M***** Limited are being supported.
As an investor that has suffered a 5 figure loss on his investments in AC this year I am inclined to disagree with the statement that "investors receive good returns". I wonder what they consider a "bad return" to be?
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Mikeme
Member of DD Central
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Post by Mikeme on Oct 18, 2020 16:35:17 GMT
You say this again but in a different way and still no answer so I will try again with my original question asked because of a statement you made.
How are your lenders making a profit for the last 6 months, the AAs interest rate has been reduced and because of the lock in the only way out is the SM given the discounts of say 8% (now perhaps 7), QAA interest of 1.875% (3.75%*6/12), looks like a loss of approx 6.125% less a little as the rate was not reduce at the start.
However we can all see how borrowers like D******d M***** Limited are being supported.
As an investor that has suffered a 5 figure loss on his investments in AC this year I am inclined to disagree with the statement that "investors receive good returns". I wonder what they consider a "bad return" to be? Wow! So you've sold £100k @10% discount. Thats the only way to lose a 5 FIGURE SUM. If you haven't sold you're still getting interest at your AA's rate.
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alanh
Posts: 556
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Post by alanh on Oct 18, 2020 17:12:17 GMT
As an investor that has suffered a 5 figure loss on his investments in AC this year I am inclined to disagree with the statement that "investors receive good returns". I wonder what they consider a "bad return" to be? Wow! So you've sold £100k @10% discount. Thats the only way to lose a 5 FIGURE SUM. If you haven't sold you're still getting interest at your AA's rate. You're on the right track. I sold well over £100k at a 6-7% discount and lost £10,000+ in doing so. It was worth every penny though, I wouldn't have any money in the access accounts for all the tea in China. Certainly my worst ever p2p investment and I consider myself pretty lucky to have managed to get out at all.
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elliotn
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Post by elliotn on Oct 19, 2020 9:48:46 GMT
Wow! So you've sold £100k @10% discount. Thats the only way to lose a 5 FIGURE SUM. If you haven't sold you're still getting interest at your AA's rate. You're on the right track. I sold well over £100k at a 6-7% discount and lost £10,000+ in doing so. It was worth every penny though, I wouldn't have any money in the access accounts for all the tea in China. Certainly my worst ever p2p investment and I consider myself pretty lucky to have managed to get out at all. On the positive side, you were rich enough to choose to invest well over 0.1M with a small company in an illiquid asset class and managed to escape at a not outlandish cost. There really are worse people off in the world than you.
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alender
Member of DD Central
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Post by alender on Oct 19, 2020 9:54:52 GMT
You're on the right track. I sold well over £100k at a 6-7% discount and lost £10,000+ in doing so. It was worth every penny though, I wouldn't have any money in the access accounts for all the tea in China. Certainly my worst ever p2p investment and I consider myself pretty lucky to have managed to get out at all. On the positive side, you were rich enough to choose to invest well over 0.1M with a small company in an illiquid asset class and managed to escape at a not outlandish cost. There really are worse people off in the world than you. This is bit like saying your lucky you just lost your foot, the man in the next hospital bed has only one leg, by someone who (as far as you can see) has both legs and feet.
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alanh
Posts: 556
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Post by alanh on Oct 22, 2020 14:34:17 GMT
On the positive side, you were rich enough to choose to invest well over 0.1M with a small company in an illiquid asset class and managed to escape at a not outlandish cost. There really are worse people off in the world than you. This is bit like saying your lucky you just lost your foot, the man in the next hospital bed has only one leg, by someone who (as far as you can see) has both legs and feet. hahaha yes. But then at least I have still got the rest of my leg above the foot. Under the flat rate system I thought I was going to lose both legs, both arms and half my torso. As elliottn says it could have been a lot worse.
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Post by overthehill on Oct 28, 2020 13:18:35 GMT
While investors continue to pay the controversial lender fee of 0.9% pa to supposedly provide platform stability, hah, I'm not surprised AC is profitable.
200% enhanced monitoring fees every month for applicable loans, i.e. 6000 instead of 2000 per month or 12000 rather than 4000 per month. Does covid-19 increase the workload by that proportion? They take all overdue monitoring fees from any recovery before investors see any capital returned, remember.
No first loss, no taking fees after capital is recovered, no sharing losses like some other P2P companies.
It doesn't stop there, take the very latest loan where they are taking 3%, if that was with Proplend then it would be 1.2%. Our money has the same risk on either platform so you would think it negates the need for a lender fee.
I'm wondering where the covid-19 downside is for AC, I'm wondering whether they deserve more of my money?
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dave2
Member of DD Central
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Post by dave2 on Oct 28, 2020 23:03:35 GMT
While investors continue to pay the controversial lender fee of 0.9% pa to supposedly provide platform stability, hah, I'm not surprised AC is profitable.
200% enhanced monitoring fees every month for applicable loans, i.e. 6000 instead of 2000 per month or 12000 rather than 4000 per month. Does covid-19 increase the workload by that proportion? They take all overdue monitoring fees from any recovery before investors see any capital returned, remember.
No first loss, no taking fees after capital is recovered, no sharing losses like some other P2P companies.
It doesn't stop there, take the very latest loan where they are taking 3%, if that was with Proplend then it would be 1.2%. Our money has the same risk on either platform so you would think it negates the need for a lender fee.
I'm wondering where the covid-19 downside is for AC, I'm wondering whether they deserve more of my money? Chill out. With so much confusion at the moment, it is reassuring to know that the Assets Capital team are working hard to protect their profitability and ultimately safeguard our lending.
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ashtondav
Member of DD Central
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Post by ashtondav on Oct 29, 2020 8:15:29 GMT
As long as I get my interest every month and it’s 3 or 4 times what I can get from the BS who gives a flying ferret.
i want this platform to survive and prosper so I can make some money.
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dead-money
Rocket to the Moon
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Post by dead-money on Oct 29, 2020 8:55:23 GMT
While investors continue to pay the controversial lender fee of 0.9% pa to supposedly provide platform stability, hah, I'm not surprised AC is profitable.
200% enhanced monitoring fees every month for applicable loans, i.e. 6000 instead of 2000 per month or 12000 rather than 4000 per month. Does covid-19 increase the workload by that proportion? They take all overdue monitoring fees from any recovery before investors see any capital returned, remember.
No first loss, no taking fees after capital is recovered, no sharing losses like some other P2P companies.
It doesn't stop there, take the very latest loan where they are taking 3%, if that was with Proplend then it would be 1.2%. Our money has the same risk on either platform so you would think it negates the need for a lender fee.
I'm wondering where the covid-19 downside is for AC, I'm wondering whether they deserve more of my money?
Hang on, doesn't PropLend take 10% of all received interest as their Lender fee? You're being somewhat selective in your comparison.
You can exit Assetz Capital Access Accounts, albeit currently at a cost of circa 18 months interest, and invest elsewhere, if you're unhappy with the terms of business.
I for one would rather invest with a profitable company, than one which isn't and goes into administration, wind-down or otherwise collapses with total capital loss.
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Post by overthehill on Oct 29, 2020 10:56:19 GMT
While investors continue to pay the controversial lender fee of 0.9% pa to supposedly provide platform stability, hah, I'm not surprised AC is profitable.
200% enhanced monitoring fees every month for applicable loans, i.e. 6000 instead of 2000 per month or 12000 rather than 4000 per month. Does covid-19 increase the workload by that proportion? They take all overdue monitoring fees from any recovery before investors see any capital returned, remember.
No first loss, no taking fees after capital is recovered, no sharing losses like some other P2P companies.
It doesn't stop there, take the very latest loan where they are taking 3%, if that was with Proplend then it would be 1.2%. Our money has the same risk on either platform so you would think it negates the need for a lender fee.
I'm wondering where the covid-19 downside is for AC, I'm wondering whether they deserve more of my money?
Hang on, doesn't PropLend take 10% of all received interest as their Lender fee? You're being somewhat selective in your comparison.
You can exit Assetz Capital Access Accounts, albeit currently at a cost of circa 18 months interest, and invest elsewhere, if you're unhappy with the terms of business.
I for one would rather invest with a profitable company, than one which isn't and goes into administration, wind-down or otherwise collapses with total capital loss.
That's right. 10% of a 12% borrower rate is 1.2% not 3% as is the case with the AC loan used as an example, this I imagine is at the high end of the scale, I've not done an analysis. It is not a lender fee, that is Proplend's equivalent of AC's monitoring fee.
I know how to exit AC and how to exit Proplend which would cost me 0.5%, currently there is 100% liquidity.
High fees doesn't make your capital safer, it's about the processes, T&C's and recovery expertise of late and defaulted loans containing your capital i.e. what's left for investors.
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criston
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Post by criston on Dec 11, 2020 12:52:36 GMT
The CBILS loan fee bonanza continues.
When are the investor fees due to end.
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ian
Posts: 342
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Post by ian on Dec 11, 2020 16:23:40 GMT
Additionally they are charging lenders additional fees & interest for extending loans loans not passing a penny on to the majors funder access account holders
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