easynow
Member of DD Central
Popcorn anyone?
Posts: 178
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Post by easynow on Jan 26, 2022 10:21:33 GMT
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%. They are referring to the difference between the loan interest rate paid to lenders using manual investments, and the amount paid via the access accounts, any difference is currently * supposedly going to the relevant provision fund. * never seen any working out to show it all actually does, in which case my comment should be taken with a pinch of salt
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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 Jan 26, 2022 10:48:05 GMT
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%. I was referring to the £2.9m referenced in the post that started this current discussion and which you were commenting on a comment to so was the topic of the discussion There is a considerable range to AC spreads, from 6.5% to 43%, with an average of 17.3£ across the pipeline, 1/3 loans of the loans are above 20% share which seems to be a rough benchmark in comparisons with other platfroms I referenced. Not sure AC 'engorgement' really stands up across the loan book
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Post by oppsididitagain on Apr 1, 2022 10:39:07 GMT
Ive had 2K waiting to be invested in the AA since 7th June 2021. Not a single penny has been invested. Currently there is over 750K worth of available investment (in 2 loans) plus the 10/15 loans we have on the platform this year , but still not 1p has been invested into the AA
Is anyone else managing to get money invested via the AA's?
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trium
Member of DD Central
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Post by trium on Apr 2, 2022 17:23:36 GMT
Ive had 2K waiting to be invested in the AA since 7th June 2021. Not a single penny has been invested. Currently there is over 750K worth of available investment (in 2 loans) plus the 10/15 loans we have on the platform this year , but still not 1p has been invested into the AA Is anyone else managing to get money invested via the AA's? Speaking for myself, no. Speaking for "anyone else", probably not.
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garfield
Member of DD Central
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Post by garfield on Apr 2, 2022 21:11:35 GMT
Ive had 2K waiting to be invested in the AA since 7th June 2021. Not a single penny has been invested. Currently there is over 750K worth of available investment (in 2 loans) plus the 10/15 loans we have on the platform this year , but still not 1p has been invested into the AA Is anyone else managing to get money invested via the AA's? No, but we are managing to get money out!
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Post by df on Apr 2, 2022 22:09:56 GMT
Ive had 2K waiting to be invested in the AA since 7th June 2021. Not a single penny has been invested. Currently there is over 750K worth of available investment (in 2 loans) plus the 10/15 loans we have on the platform this year , but still not 1p has been invested into the AA Is anyone else managing to get money invested via the AA's? 10 months of queuing! You have a lot of patience
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 2, 2022 22:18:12 GMT
Ive had 2K waiting to be invested in the AA since 7th June 2021. Not a single penny has been invested. Currently there is over 750K worth of available investment (in 2 loans) plus the 10/15 loans we have on the platform this year , but still not 1p has been invested into the AA Is anyone else managing to get money invested via the AA's? 10 months of queuing! You have a lot of patience and no interest.
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Post by df on Apr 2, 2022 22:36:25 GMT
You have a lot of patience and no interest. 10 months of 2k could earn £66 on LP
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Post by oppsididitagain on Apr 4, 2022 11:10:51 GMT
yep, I kind of forgot it was in the queue until the other day, I just presumed as the AC wheels were turning again it would have been invested by now. The Customer service rep told me on the phone last Oct that things were moving again and it shouldn't take long- and its in my ISA account , so a load of paper work etc to move it which I can't be bothered with.
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Post by Ace on Apr 4, 2022 11:23:26 GMT
yep, I kind of forgot it was in the queue until the other day, I just presumed as the AC wheels were turning again it would have been invested by now. The Customer service rep told me on the phone last Oct that things were moving again and it shouldn't take long- and its in my ISA account , so a load of paper work etc to move it which I can't be bothered with. ISA transfer paperwork is minimal, and AC are particularly efficient at transferring out in my experience.
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Post by Ace on May 13, 2022 8:16:53 GMT
I found today's email from AC, crowing about being the largest P2P lender that's open for business and encouraging us to add funds, to be particularly galling. There was absolutely no mention that the access accounts are still effectively closed, nor any mention of when they might open. They really do take smugness to a new level.
Their example of excellent recovery work could easily be countered by many less successful attempts.
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ashtondav
Member of DD Central
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Post by ashtondav on May 13, 2022 10:13:56 GMT
Strange. I didn’t receive that. And it’s not in junk either.
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Post by overthehill on May 13, 2022 10:37:00 GMT
Strange. I didn’t receive that. And it’s not in junk either.
Do AC still monitor this forum ?!
=========
I hope that you and your families are well.
It’s nine years since Assetz Capital was founded and we’re now the largest active Peer-to-Peer lender in the UK. I want to reconfirm our commitment to retail investors and assure you that Assetz Capital continues to be a valid option for your investments, both now and in the future. We are confident that we can meet investor demand for fair returns while making a tangible difference to the UK’s housing market and SME business funding needs, for more information see our latest Impact Report here. We are now at the beginning of the new tax year, and we want to make it very clear that there is a home for your IFISA at Assetz Capital – whether that is using your current financial year £20,000 tax-free* investment allowance to make new contributions, or transferring in both current financial year or unlimited amounts of previous financial year subscriptions from other providers, some of whom may have now closed their IFISA either for the season, or permanently. We have a growing pipeline of loans expected to drawdown during May and the coming months. This can be viewed in the platform dashboard under Marketplace- Pipeline Loans. In the current low interest rate, high inflation environment we believe that our Peer-to-Peer lending products are more appealing than ever to private investors with the added benefit of positively contributing to our society at the same time. We have plans to significantly scale up our operations over the coming year and will continue to aim to provide our investors with attractive returns- which given the current surge in inflation impacting our cost of living, have never been such a necessary income for so many people.
Thank you for your continued support.
Kind regards,
Stuart Law CEO & Co-Founder
* The tax treatment of your investments can depend on your personal circumstances and this could change in the future.
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Post by Ton ⓉⓞⓃ on May 13, 2022 10:59:18 GMT
Strange. I didn’t receive that. And it’s not in junk either. I got it at 9am exactly, the last line or so says, "You have received this email because you have subscribed to the Assetz Capital mailing list"
It's a flat copy of the email so the links won't work
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Post by overthehill on May 13, 2022 10:59:33 GMT
I found today's email from AC, crowing about being the largest P2P lender that's open for business and encouraging us to add funds, to be particularly galling. There was absolutely no mention that the access accounts are still effectively closed, nor any mention of when they might open. They really do take smugness to a new level. Their example of excellent recovery work could easily be countered by many less successful attempts.
Very well paid recovery work, if other platforms had their level of bad loans and fruitful and fruitless recovery work then either they would have to make it a revenue stream like AC or go under. Not forgetting that returned investor funds are also used for recovery as a votable final throw of the dice when there is nothing left for AC to charge against.
AC are in trouble unless they increase rates and diversification. Look at the loan location distribution and concentrations over the past 2 years.
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