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Post by Undecided on Jan 22, 2022 17:50:54 GMT
Has the investment queue improved at all. Anyone have any idea how long it is?
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Post by df on Jan 22, 2022 22:00:41 GMT
Has the investment queue improved at all. Anyone have any idea how long it is? I don't know the answer, but would be interested to learn about the rationale behind staying in this queue. I'd keep waiting funds in FSCS easy access accounts instead (or LP for a better return) - queueing for AAs pays no interest.
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Post by Ton ⓉⓞⓃ on Jan 22, 2022 22:32:41 GMT
Has the investment queue improved at all. Anyone have any idea how long it is?
The "queue" for the AA's (QAA, 30AA, 90AA) isn't even moving afaics. It hasn't for months and I don't think it will for awhile still. I have pence in the queue which gets added to at the start of each month, being the interest on about £450 spread across all AA accounts, perhaps you do too? I'm guessing it's being managed conservatively in potential tricky times.
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Post by jevans4949 on Jan 23, 2022 13:31:49 GMT
I have about £300 on my MLA accout and have buy orders on most low/medium low loans. I pick up dribs and drabs as other people diinvest, although I have taken out several hundred from my peak investment a couple of months ago.
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Post by Undecided on Jan 23, 2022 19:39:22 GMT
Has the investment queue improved at all. Anyone have any idea how long it is? I don't know the answer, but would be interested to learn about the rationale behind staying in this queue. I'd keep waiting funds in FSCS easy access accounts instead (or LP for a better return) - queueing for AAs pays no interest. I'm not in the queue, I was just wondering if there is any potential for investing with AC at the moment but it seems not. I am invested with LP but am at the maximum I'm comfortable putting in any one P2P.
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Post by df on Jan 23, 2022 22:04:56 GMT
I don't know the answer, but would be interested to learn about the rationale behind staying in this queue. I'd keep waiting funds in FSCS easy access accounts instead (or LP for a better return) - queueing for AAs pays no interest. I'm not in the queue, I was just wondering if there is any potential for investing with AC at the moment but it seems not. I am invested with LP but am at the maximum I'm comfortable putting in any one P2P. I don't think there's any potential at the moment. I doubt that AAs will ever get back to normal, but if they do I'm very likely to invest. LP is a very good replacement, but the same as you - I'm at my maximum (19.93% of my p2p atm), I don't want to go over 20% no matter how safe the investment might look.
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rscal
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Post by rscal on Jan 24, 2022 15:59:18 GMT
I have about £300 on my MLA account and have buy orders on most low/medium low loans. I pick up dribs and drabs as other people disinvest, although I have taken out several hundred from my peak investment a couple of months ago. A pound here a pound there .. it all adds up. AC has become the the Tesco Clubcard of Alternative Financeland (batteries not included ... your interest frequency may vary ... available from all good bookshops and WH Smiths)
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corto
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Post by corto on Jan 24, 2022 16:36:24 GMT
I suspect they favour the 4% access account low maintenance option for the medium future. Too much money in the system
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mikes1531
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Post by mikes1531 on Jan 24, 2022 22:27:00 GMT
Has the investment queue improved at all. Anyone have any idea how long it is? I don't know the answer, but would be interested to learn about the rationale behind staying in this queue. I'd keep waiting funds in FSCS easy access accounts instead (or LP for a better return) - queueing for AAs pays no interest. I think the rationale is that by staying in the queue, once it starts moving again your money would be put to work sooner rather than later. If you keep the money elsewhere, and then transfer it into AC once the queue starts moving, you'd be starting at the back of the queue.
Whether that's a good rationale will depend on how long it takes for the queue to start moving, and how long it takes for the queue to disappear completely. If it will be a long time before there's any queue movement, and the backlog gets cleared very quickly once it does start moving, then the external account is the right answer. If the queue is going to start moving tomorrow, and take ages to clear the backlog, then hanging on to a queue position is more likely to be the right answer.
My crystal ball has no clarity on what's likely to happen.
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Post by Ton ⓉⓞⓃ on Jan 25, 2022 20:00:39 GMT
I suspect they favour the 4% access account low maintenance option for the medium future. Too much money in the system
A £2.9million proposal has entered the Pipeline at 5% (estimated drawdown as the last day of this tax year, 5.4.22)
Clearly an AA loan. But it will help eat up some spare cash
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Post by df on Jan 25, 2022 21:19:40 GMT
I suspect they favour the 4% access account low maintenance option for the medium future. Too much money in the system
A £2.9million proposal has entered the Pipeline at 5% (estimated drawdown as the last day of this tax year, 5.4.22)
Clearly an AA loan. But it will help eat up some spare cash
My "standards" have dropped since I've started on AC. At first I had 8% as a minimum, later 7 and then 6 (low-medium only) since pandemic started - I don't think I will be dropping it down to 5% any time soon:) . I hope 5%ers will will help AA recovery, but then the rate don't look great for maintaining a healthy PF.
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Post by overthehill on Jan 25, 2022 21:32:43 GMT
A £2.9million proposal has entered the Pipeline at 5% (estimated drawdown as the last day of this tax year, 5.4.22)
Clearly an AA loan. But it will help eat up some spare cash
My "standards" have dropped since I've started on AC. At first I had 8% as a minimum, later 7 and then 6 (low-medium only) since pandemic started - I don't think I will be dropping it down to 5% any time soon:) . I hope 5%ers will will help AA recovery, but then the rate don't look great for maintaining a healthy PF.
Does the PF contribution come out of ACs engorged cut of the monthly interest ? Easy money, not even development. The access accounts are the perfect patsies. Wake up investors.
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Post by Ace on Jan 25, 2022 22:26:16 GMT
My "standards" have dropped since I've started on AC. At first I had 8% as a minimum, later 7 and then 6 (low-medium only) since pandemic started - I don't think I will be dropping it down to 5% any time soon:) . I hope 5%ers will will help AA recovery, but then the rate don't look great for maintaining a healthy PF.
Does the PF contribution come out of ACs engorged cut of the monthly interest ? Easy money, not even development. The access accounts are the perfect patsies. Wake up investors.
It doesn't come out of AC's cut. It's the difference between the manual lender's rate (5% in this case) and the Access Account rate that goes to the PF.
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ilmoro
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Post by ilmoro on Jan 25, 2022 22:44:41 GMT
My "standards" have dropped since I've started on AC. At first I had 8% as a minimum, later 7 and then 6 (low-medium only) since pandemic started - I don't think I will be dropping it down to 5% any time soon:) . I hope 5%ers will will help AA recovery, but then the rate don't look great for maintaining a healthy PF.
Does the PF contribution come out of ACs engorged cut of the monthly interest ? Easy money, not even development. The access accounts are the perfect patsies. Wake up investors.
No, as Ace said it comes from the extra 1-1.25%, so 20-25% of interest going into PF. AC 'engorged' cut will be 16.5% of full rate ... so not quite as fat as CP, LP and dont even talk about EasyMoney. Edit: I suspect the issue with this one is likely to that its a refi of an existing loan ... bigger loan, lower rate, higher LTV.
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Post by overthehill on Jan 26, 2022 9:52:54 GMT
Does the PF contribution come out of ACs engorged cut of the monthly interest ? Easy money, not even development. The access accounts are the perfect patsies. Wake up investors.
No, as Ace said it comes from the extra 1-1.25%, so 20-25% of interest going into PF. AC 'engorged' cut will be 16.5% of full rate ... so not quite as fat as CP, LP and dont even talk about EasyMoney. Edit: I suspect the issue with this one is likely to that its a refi of an existing loan ... bigger loan, lower rate, higher LTV. I don't know what loan you're referring to but the 3 large upcoming mortgage loans I looked at, AC's cut is 28%,28%,32%.
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