mikes1531
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Post by mikes1531 on Feb 7, 2015 13:56:10 GMT
Equally importantly it was a very small loan so exit liquidity was never going to be an issue unless it got into trouble quickly. That's another of the reasons that I'm not too excited about the replacement loan -- it's rather large. Then again, AC's investor base is a lot larger now as well, so perhaps it's not as big an issue as I perceive it to be.
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agent69
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Post by agent69 on Feb 9, 2015 13:39:27 GMT
I see K***y 2 has appeared in the upcoming loans.
Draw down expected Friday 13th
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mikeb
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Post by mikeb on Feb 9, 2015 19:18:16 GMT
The option to transfer your holding was given to old investors (by email) -- has anyone seen this work yet? I see a holding and target of £0.00 ... not sure whether to set the target correctly, or let AC do it?
There's an unanswered Q&A on this, so I'm not the only one wondering.
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kermie
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Post by kermie on Feb 9, 2015 20:02:15 GMT
The option to transfer your holding was given to old investors (by email) -- has anyone seen this work yet? I see a holding and target of £0.00 ... not sure whether to set the target correctly, or let AC do it? There's an unanswered Q&A on this, so I'm not the only one wondering. FWIW, I have set an explicit target...since this seemed like the safe thing to do.
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Post by chris on Feb 9, 2015 21:33:16 GMT
The option to transfer your holding was given to old investors (by email) -- has anyone seen this work yet? I see a holding and target of £0.00 ... not sure whether to set the target correctly, or let AC do it? There's an unanswered Q&A on this, so I'm not the only one wondering. We'll be doing it for you unless you explicitly set a target in which case your setting will remain.
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sl75
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Post by sl75 on Feb 9, 2015 23:19:02 GMT
We'll be doing it for you unless you explicitly set a target in which case your setting will remain. Perhaps in future cases, it might be better to have those who opt in to rolling over their loan have the target set for them BEFORE the loan appears in the "upcoming loans" section, rather than create this issue in the first place...?
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mikeb
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Post by mikeb on Feb 13, 2015 18:29:58 GMT
The option to transfer your holding was given to old investors (by email) -- has anyone seen this work yet? I see a holding and target of £0.00 ... not sure whether to set the target correctly, or let AC do it? There's an unanswered Q&A on this, so I'm not the only one wondering. FWIW, I have set an explicit target...since this seemed like the safe thing to do. You were absolutely right, kermie -- I left it to AC to move my holding across and it didn't happen. Shows what happens when you trust two separate sources that say "we will do this when the loan draws down"  Loan drawn down, no target, no holding. Old loan repaid and sat as cash waiting to invest. I've sorted it now by hand, but not impressed -- I second the comment above regarding doing it BEFORE the loan draws down, in future. No point sending out advance notice to existing lenders, telling them they are at the head of some mythical queue, requiring an action/response, to then not actually do it ... Sorry: Make that three sources now. The Q&A was answered with: "Having checked, providing you responded to the email IT will be ensuring that everything is done at our end." -- Nope ...
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Post by Jack Barlow on Feb 13, 2015 18:53:09 GMT
E-mail reply worked for me, didn't touch any settings.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 13, 2015 20:07:56 GMT
Worked ago for me too. Slightly confused by the capital repayment of 14zeros31 though. Not sure where that came from as this loan was acquired under the odd system when shrapnel didnt exist |
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Post by chris on Feb 13, 2015 23:21:33 GMT
Worked ago for me too. Slightly confused by the capital repayment of 14zeros31 though. Not sure where that came from as this loan was acquired under the odd system when shrapnel didnt exist You own a percentage of the loan, there can still be rounding errors, as the decimal system can't represent every possible fraction, but they'll be very very small. I'm presuming there were 18 zeros between the . and the 3.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 14, 2015 0:36:36 GMT
Worked ago for me too. Slightly confused by the capital repayment of 14zeros31 though. Not sure where that came from as this loan was acquired under the odd system when shrapnel didnt exist You own a percentage of the loan, there can still be rounding errors, as the decimal system can't represent every possible fraction, but they'll be very very small. I'm presuming there were 18 zeros between the . and the 3. Realised Im talking rubbish as increased my holding under new system.
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Mike
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Post by Mike on Mar 2, 2015 2:38:09 GMT
I am surprised there is so much of this loan still kicking around for investment. I have a zero target too, but on reflection there doesn't seem to be a good reason for this other than I had the old loan at a higher rate, and in my experience these extensions don't always turn out dandy. But reassessing the credit report, it looks like a reasonable offer - so I am curious if anyone else would share their reasons for staying away, unless they are waiting for something better and know they might struggle to sell their parts if they parked here?
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mikes1531
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Post by mikes1531 on Mar 2, 2015 14:44:37 GMT
... I am curious if anyone else would share their reasons for staying away, unless they are waiting for something better and know they might struggle to sell their parts if they parked here? You've described my reasons for not investing very well. I wouldn't mind parking spare cash there, but I doubt I could retrieve it in a timely manner.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 2, 2015 16:58:12 GMT
I am surprised there is so much of this loan still kicking around for investment. I have a zero target too, but on reflection there doesn't seem to be a good reason for this other than I had the old loan at a higher rate, and in my experience these extensions don't always turn out dandy. But reassessing the credit report, it looks like a reasonable offer - so I am curious if anyone else would share their reasons for staying away, unless they are waiting for something better and know they might struggle to sell their parts if they parked here? This is a large loan with a fairly ordinary interest rate. Previously, underwriters would discount a loan of this size by about 0.5% to generate lender investment. With no discounting mechanism on the new software it could be stuck for a while yet. Every loan over £1m at 10% or less had underwriter discounting at some point.
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mikes1531
Member of DD Central
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Post by mikes1531 on Mar 2, 2015 17:35:56 GMT
I am surprised there is so much of this loan still kicking around for investment. I have a zero target too, but on reflection there doesn't seem to be a good reason for this other than I had the old loan at a higher rate, and in my experience these extensions don't always turn out dandy. But reassessing the credit report, it looks like a reasonable offer - so I am curious if anyone else would share their reasons for staying away, unless they are waiting for something better and know they might struggle to sell their parts if they parked here? This is a large loan with a fairly ordinary interest rate. Previously, underwriters would discount a loan of this size by about 0.5% to generate lender investment. With no discounting mechanism on the new software it could be stuck for a while yet. Every loan over £1m at 10% or less had underwriter discounting at some point. I had forgotten about underwriter discounting. The inability to do that could be part of the reason that there's so much of other loans still being held by underwriters. I wonder if the underwriters are applying any pressure on AC to reintroduce the discounting option?
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