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Post by mw on Feb 21, 2023 18:14:08 GMT
Looking at my interest graph postimg.cc/vcJJYzCd . I've never been so close to 0% in the middle of month before. The fee I now owe to AC is going down so it looks like the fee on invested capital is going to cancel most or all of my interest for this month. My MLA transactions show unusually small repayments and a lot of "Claimed Lender Fees" at £0.000000000. According to my transaction records, the "Claimed Lender Fees" started on 1 February and my dashboard display of "Outstanding fee" is being reduced by precisely the amount of these "Claimed Lender Fees". The total of "Claimed Lender Fees" and "Outstanding fee" looks very close to 2.9% of my performing loans, but time apportioned for about a 6 week (out of 52) period. I assume that this means that I should expect a sudden jump in the "Outstanding fee" when a charge for the month of February is made. We shall see.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Feb 22, 2023 19:44:04 GMT
I was actually given a portion of my MLA interest today. Tonight we eat!
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trium
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Post by trium on Mar 7, 2023 19:45:37 GMT
I was actually given a portion of my MLA interest today. Tonight we eat! I was paid interest today - much earlier than last month. That is partly due to a 4-week charging period instead of 6 weeks but I'm puzzled. My fee charged on 1st March was £35.97. At 2.9% pa that suggests performing loans were around £14800. My total MLA loans amount to £18600. I have £1480 in default leaving non-defaulted but also non-performing loans of £2320 - about 12.5%. This seems high. AA came through same as everybody else
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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 Mar 8, 2023 11:34:38 GMT
I was actually given a portion of my MLA interest today. Tonight we eat! I was paid interest today - much earlier than last month. That is partly due to a 4-week charging period instead of 6 weeks but I'm puzzled. My fee charged on 1st March was £35.97. At 2.9% pa that suggests performing loans were around £14800. My total MLA loans amount to £18600. I have £1480 in default leaving non-defaulted but also non-performing loans of £2320 - about 12.5%. This seems high. AA came through same as everybody else The issue is how many loans you hold that have made payments due in Feb actually made in Mar. The fees accrued at beginning of Mar wont include fees for these loans so will be lower than normal, but you have had the interest which means your accrued fees are cleared faster. At some point, the benefit will be reversed as you will have double fee, but single payment. Feb is also an odd month anyway as its shortness means some loans dont have payments scheduled, so technically may not accrue fees, Mar will also be odd as loans not paying in Feb will pay twice, accruing double fee. If you want an example #1550 paid its Jan & Feb interest yesterday, so lenders will get 3 lots of interest in Mar (assuming AC remember to make the next payment) so all the accrued fees for Jan, Feb & Mar will be claimed in Apr (AIUI) #874 made 3 interest payments yesterday, but that only has a nominal balance for technical reasons, so that one wont have a much of a sting in the tail.
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