mogish
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Post by mogish on May 19, 2021 17:09:17 GMT
Have most investors left AC or the ones who have stayed currently happy?
After deciding to stay, I have noticed I'm now investing in suspended loans, mostly recent.
Hope this is not a sign of the last of the dregs loans.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on May 19, 2021 17:43:20 GMT
A lot of vocal have appeared to have left, ac has nothing new (1 refinance) in 15 months, lots of loans are now cbils, cbils AC split, or are just not being invested in manually by investors. Most chat is about AC fees, Rics values, or votes on which way to loose less money. DD central has some recent posts.
Sounds a bit negative so to re balance.
Some loans are repaying ok, and some are ending ok after extensions ect.
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Post by capricorn on May 19, 2021 21:58:37 GMT
The question really is when are new loans going to be presented to retail investors as the start of a gradual return to normal? The e-mail sent to all investors on 22/3/21 said new retail lending would restart "next month" with the suggestion that we would see the first new loan added to access accounts "towards the end of April or early in May". Well unless I'm mistaken this hasn't happened and AC have gone silent on this. I'm hoping they haven't decided to direct their energies into the CBILS successor Recovery Loan Scheme and forget about retail lenders for a while longer. A communication from them is overdue so we know where we stand.
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p2pfan
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Post by p2pfan on May 19, 2021 22:33:23 GMT
The question really is when are new loans going to be presented to retail investors as the start of a gradual return to normal? The e-mail sent to all investors on 22/3/21 said new retail lending would restart "next month" with the suggestion that we would see the first new loan added to access accounts "towards the end of April or early in May". Well unless I'm mistaken this hasn't happened and AC have gone silent on this. I'm hoping they haven't decided to direct their energies into the CBILS successor Recovery Loan Scheme and forget about retail lenders for a while longer. A communication from them is overdue so we know where we stand. True. AC seems to be focused on the CBILS successor Recovery Loan Scheme (RLS) and so not bothering about loans for us retail lenders for now. They don't even reply to any of my email queries about new loans. Real pity, but we have to come to terms with the fact that we've been dumped as the ' ex-girlfriend' now in favour of the sexy new long-legged blondie aka RLS.
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alender
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Post by alender on May 20, 2021 8:19:27 GMT
The question really is when are new loans going to be presented to retail investors as the start of a gradual return to normal? The e-mail sent to all investors on 22/3/21 said new retail lending would restart "next month" with the suggestion that we would see the first new loan added to access accounts "towards the end of April or early in May". Well unless I'm mistaken this hasn't happened and AC have gone silent on this. I'm hoping they haven't decided to direct their energies into the CBILS successor Recovery Loan Scheme and forget about retail lenders for a while longer. A communication from them is overdue so we know where we stand. AC must have know there would be little or no retail lending for a time but it still went ahead with the exit accounts so it looks like this email was there to try and get some people to take up this option, wonder if anyone did.
I cannot see much future for P2P while the government is throwing around cheap money however once this support stops and the economy takes a hit loans will increase in risk.
If you want a loan now and you have a good track record you can get cheaper rates than AC can give so only leaving the higher risk borrowers, imo lenders can get better returns elsewhere with lower risk.
Another question is once these government schemes come to an end and AC lose the income from these is there going to be enough good loans and people willing to lend to keep AC going.
AC could well come to regret the day it chased off it's largest investors with the flat rate payouts, also for me the constant change of conditions make AC close to uninvestable as what you buy is not what you get. Also the AAs were (at leat on the surface) a simple investment, now there are very complicated with all the changes especially around withdrawals.
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ashtondav
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Post by ashtondav on May 20, 2021 8:22:20 GMT
Yeah but when the blonde kicks ac in the nuts and walks off with a billionaire they’ll be back. Meanwhile I do miss those, “loan 42316 paid £2.50” posts  |
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alender
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Post by alender on May 20, 2021 9:21:49 GMT
Yeah but when the blonde kicks ac in the nuts and walks off with a billionaire they’ll be back. Dream on.
You mean by "kicks ac in the nuts" investors withdraw their own money over a year after asking for it in an Quick Access Account while having the conditions constantly changed.
Of course AC could not pay back everything once the rush for the exit started but they did hold onto a large cash surplus for a long time, far longer than necessary. I for one will not forget this along with the flat rate payments, AC actions of hanging on to my cash meant I could not fully take up investments elsewhere which proved to be very lucrative.
Why would anyone come back, low rates, complicated rules that keep changing, diminishing loan pool with higher % of suspended loans as better ones repay.
The lack of activity on this board is a sign that a lot of people have no interest in AC.
Fool me once shame on you, fool me twice shame on me.
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mogish
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Post by mogish on May 20, 2021 10:11:29 GMT
Unfortunately it seems we are no longer required. Online chat reveals no change to future new loans , only the retail crowd will see new loans soon.....if there are any of the crowd left.
I have 8k left in an ISA , prob worth me moving this now as the future isnt particulary bright.
Oh well , back on the merry go round of P2P, just with less this time.
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pikestaff
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Post by pikestaff on May 20, 2021 10:49:21 GMT
I hope we start seeing new loans, but I think they are more interested now in Assetz Exchange.
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dave4
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Post by dave4 on May 20, 2021 10:58:33 GMT
AE is a seperate entity Now. "aiui" ?
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ilmoro
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'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 May 20, 2021 11:36:11 GMT
AE is a seperate entity Now. "aiui" ? You might be thinking of Assetz Property which has been sold in a management buyout. Pretty sure AE is still part of Assetz & SL empire
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ashtondav
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Post by ashtondav on May 20, 2021 12:01:01 GMT
Yeah but when the blonde kicks ac in the nuts and walks off with a billionaire they’ll be back. Dream on.
You mean by "kicks ac in the nuts" investors withdraw their own money over a year after asking for it in an Quick Access Account while having the conditions constantly changed.
Of course AC could not pay back everything once the rush for the exit started but they did hold onto a large cash surplus for a long time, far longer than necessary. I for one will not forget this along with the flat rate payments, AC actions of hanging on to my cash meant I could not fully take up investments elsewhere which proved to be very lucrative.
Why would anyone come back, low rates, complicated rules that keep changing, diminishing loan pool with higher % of suspended loans as better ones repay.
The lack of activity on this board is a sign that a lot of people have no interest in AC.
Fool me once shame on you, fool me twice shame on me.
Horses for courses. No need to access money and consistently received my 4% interest (8 times Marcus rate). Very happy and look forward to bunging more in when "normality" is declared. Especially now you can exit at no cost.
I fully appreciate it must have been a nightmare for those who needed their money, or who possess a higher level of morality that thinks a pandemic shoud have no effect on a lender, and that they shouldnt't take all steps to survive and pay out to their investors...
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alender
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Post by alender on May 20, 2021 12:59:58 GMT
Horses for courses. No need to access money and consistently received my 4% interest (8 times Marcus rate). Very happy and look forward to bunging more in when "normality" is declared. Especially now you can exit at no cost.
I fully appreciate it must have been a nightmare for those who needed their money, or who possess a higher level of morality that thinks a pandemic shoud have no effect on a lender, and that they shouldnt't take all steps to survive and pay out to their investors...
The difference is Marcus funds are protected and only take a few minutes to move out to nominated account so can be used for instant money when opportunities arise. Yesterday used funds from Marcus to subscribe to Seven Trent share offer (offer only available for a few hours), bought at £24.00, today £25, will probably trade out when shares arrive on Friday.
Try comparing to other investments, switched a lot of my AC funds to Supermarket REIT on the issue of new shares at £1.06 in Mar 2021, yield over 5% now £1.14 + 1.4p dividend. It owns super market property with rent contracts inflation linked and average over 11 years. Not the only game in town for relatively safe high yielding investments look at the Healthcare REITs where I have place some other funds. How does AC compare to these, IMO these are a lot safer, higher yield, no chance of lock in. Up the risk and there are obviously many opportunities which I have also invested in.
The reason I have done well on Supermarket REIT was I had to ability to get to funds quickly and take opportunity when it comes up which is not possible if locked in with AC.
During the worst of the Covid crises I wanted to switch to Big oil and Miners, only managed this for some of my funds as I could not get to the rest as stuck in AC, if in REITs I could have sold at maybe a small loss switch to more to my choice of Big oil and Miners and then almost doubled my money.
At best AC are 8 times more than Marcus rate but with significant risk money will be locked in for a time, at worst there is risk of capital loss, stressful and prevent taking up opportunities when they arrive.
However I hope it works well for those whose choice is to stay with AC, for me it is never nice to see someone else losing money.
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mogish
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Post by mogish on May 20, 2021 13:24:19 GMT
maybe Ive missed something...correct me if im wrong, if AC continue to pay me interest and no new loans are being invested into , will that not reduce the risk of defaults if the loan numbers reduce?
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Post by Ace on May 20, 2021 13:45:21 GMT
maybe Ive missed something...correct me if im wrong, if AC continue to pay me interest and no new loans are being invested into , will that not reduce the risk of defaults if the loan numbers reduce? No, quite the opposite. As good loans repay the proportion of bad loans increases. Eventually, only bad loans would be left.
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