ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877
Likes: 11,102
|
Post by ilmoro on Apr 8, 2024 20:20:15 GMT
Arguably AC is trying to avoid confronting a principle here that (if we do all the unpaid work of shuffling our balances around per flexibility to reduce their 'burden') they can do something too. And this use of a black-box 3rd party service company - is that usual? Is it 'regular'? Are they perhaps using their own staff in the Institutional Wing to do this and charging them back? (Anyway, grist to the mill I think) Yes, most platforms use a provider to manage their ISA ... generally Goji ... pretty sure AC use them. (Edit ... they do) PS not sure in providing the info they expected you to post it on a public forum ... I assume there is the standard disclaimer in the footer of their legal emails.
|
|
|
Post by oppsididitagain on Apr 9, 2024 6:42:03 GMT
I believe AC use a company called Goji. to do the admin work on their ISA Transfers www.goji.investments/isa-management They manage the admin for about 30 different companies who have IFISA's. They launched their own P2P bonds back in 2017 so presumably have dealt with AC before. £30 seems a bit steep to me, but after reading some of the employee Bio's online , as with most startups and new employers you must keep the staff happy with a work life balance. I mean who comes to the office to actually work !! This is where your £30 is going : We’re a hybrid working company, but a lot of people choose to come to the office to socialise and have fun. My favourite part of the week is on a Wednesday afternoon when we organise Finance Fun. Wednesday is usually the busiest day in the office and the whole finance team is in, so we like to play games and get people involved from across the business!
|
|
|
Post by bracknellboy on Apr 9, 2024 7:18:35 GMT
Marginally good personal news for me, with today's 2 capital repayments my lifetime interest repayments now just exceed my remaining stake in the site including non recoverable loans. So if I now lose the remaining lot completely I can delude myself Peer to peer cost me nothing. Have you taken into account your lost opportunity cost ? Signed: Glass Half-Empty
|
|
|
Post by crabbyoldgit on Apr 9, 2024 15:21:17 GMT
Those opportunity costs are the delusional part of my good news,
Signed: glass 1/2 full when viewed with rose coloured glasses while holding nose.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877
Likes: 11,102
|
Post by ilmoro on Apr 30, 2024 22:18:34 GMT
As of 31 Mar Capital outstanding £103.1m Free Cash £4.5m Outstanding funding commitments £1m Loans 198 Default 33 (includes 4 with nominal amounts) - 14.4m Arrears £12.4m No Feb payment £30.6m Catch up £9.7 Repaid 8 (£2.3m) Interest received c324k representing approx 94% of sum needed to pay 4% before the lender fee. Significant number of loan payments not made due to Easter period so interest likely to be 3.2% max As of 30 Apr Capital outstanding £98m Free Cash £2.1m Outstanding funding commitments £1m Loans 192 Default 34 (includes 4 with nominal amounts) - 15.9m Arrears £11.5m No Apr payment £17.1m Catch up £16.4 Repaid 6 (£680k) Interest received c412k representing approx 123% of sum needed to pay 4% before the lender fee. Large number of catch up payments this month and end of month falling on a working day means interest likely to be paid in full.
|
|
|
Post by bob2010 on Apr 30, 2024 23:16:48 GMT
As of 31 Mar Capital outstanding £103.1m Free Cash £4.5m Outstanding funding commitments £1m Loans 198 Default 33 (includes 4 with nominal amounts) - 14.4m Arrears £12.4m No Feb payment £30.6m Catch up £9.7 Repaid 8 (£2.3m) Interest received c324k representing approx 94% of sum needed to pay 4% before the lender fee. Significant number of loan payments not made due to Easter period so interest likely to be 3.2% max As of 30 Apr Capital outstanding £98m Free Cash £2.1m Outstanding funding commitments £1m Loans 192 Default 34 (includes 4 with nominal amounts) - 15.9m Arrears £11.5m No Apr payment £17.1m Catch up £16.4 Repaid 6 (£680k) Interest received c412k representing approx 123% of sum needed to pay 4% before the lender fee. Large number of catch up payments this month and end of month falling on a working day means interest likely to be paid in full. I still do not understand why the 4% interest isn't based on the accrued amount? Considering the maximum rate is 4%, why are Instant Access investors being penalised for interest payment dates falling on the weekend/bank holiday?
|
|
|
Post by oppsididitagain on May 1, 2024 8:05:43 GMT
As of 31 Mar Capital outstanding £103.1m Free Cash £4.5m Outstanding funding commitments £1m Loans 198 Default 33 (includes 4 with nominal amounts) - 14.4m Arrears £12.4m No Feb payment £30.6m Catch up £9.7 Repaid 8 (£2.3m) Interest received c324k representing approx 94% of sum needed to pay 4% before the lender fee. Significant number of loan payments not made due to Easter period so interest likely to be 3.2% max As of 30 Apr Capital outstanding £98m Free Cash £2.1m Outstanding funding commitments £1m Loans 192 Default 34 (includes 4 with nominal amounts) - 15.9m Arrears £11.5m No Apr payment £17.1m Catch up £16.4 Repaid 6 (£680k) Interest received c412k representing approx 123% of sum needed to pay 4% before the lender fee. Large number of catch up payments this month and end of month falling on a working day means interest likely to be paid in full. Very disappointing Capital withdrawal/Payout this month
|
|