sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 11, 2015 22:27:31 GMT
I suspect you were investing when AC fed you steroids, so I have empathy with your predicament. I joined AC at the end of April 2014 and never got fed tasty 15% BL's or cashback. On the day I joined the new posting was loan #87. It's still available, and always has been. It has been good fun building up a diversified portfolio, but the latest offerings aren't very enticing. I have succumbed to various P2P afflictions such as, MHS (missing horseshoe syndrome), and IPF (Investment Paused fatigue), but BUD (boring upcoming-loan disorder) is a new one on me. I must get tested. I wasn't specifically alluding to rates (I had a small amount left @ 15% in the Spondy loan but sold out many weeks ago, the rest are your run of the mill loans we're all invested in). It's more about quality, variety, decent solid LTVs & such. I've been bitten with a few defaulted loans & the plumber man, so high rates are not my priority, Quality of loans & reduced likelihood of defaults are more important whilst yielding reasonable returns. I think I've diagnosed the problem, it's called CPM (colour picture missing). All the upcoming loans look drab because they have a grey silhouette instead of a colourful inset. It's psychological, when I first joined AC I associated each loan with a picture, and still do. If each upcoming loan had a colourful inset, it would appear more interesting.
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Post by mrclondon on Mar 11, 2015 22:51:08 GMT
I think I've diagnosed the problem, it's called CPM (colour picture missing). All the upcoming loans look drab because they have a grey silhouette instead of a colourful inset. It's psychological, when I first joined AC I associated each loan with a picture, and still do. If each upcoming loan had a colourful inset, it would appear more interesting. Ah yes, cute cat syndrome. A few years ago when Zopa were offering listings on a reverse auction basis, the cuter the picture of the cat posted as the listing avatar, the lower the rate the borrower got compared to similiar sized & risk graded loans.
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Post by oldnick on Mar 12, 2015 6:31:25 GMT
What next? Loan of the month, with a centre-spread, to shift an unattractive proposition?
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Post by lynnanthony on Mar 12, 2015 7:26:25 GMT
And we have one more #162 West Midlands Care Home. And there it was, gone again ....
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warn
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Curmudgeon
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Post by warn on Mar 12, 2015 8:34:34 GMT
What next? Loan of the month, with a centre-spread, to shift an unattractive proposition? Maybe they'll make sure they appear on Page Three of the loan book listing.
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mikes1531
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Post by mikes1531 on Mar 12, 2015 11:29:23 GMT
And we have one more #162 West Midlands Care Home. And there it was, gone again .... : Did you actually see it? Or was the 'announcement' simply an advance notice from tonyr who, IIRC, has access to loan proposals when they're still being underwritten?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Mar 12, 2015 11:41:41 GMT
And there it was, gone again .... : Did you actually see it? Or was the 'announcement' simply an advance notice from tonyr who, IIRC, has access to loan proposals when they're still being underwritten? Loan #162 there now. Some confusion as to whether the rate is 11% or 10% (see CR).
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unmadem
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Post by unmadem on Mar 12, 2015 17:23:42 GMT
lynnanthony: Did you actually see it? Or was the 'announcement' simply an advance notice from tonyr who, IIRC, has access to loan proposals when they're still being underwritten? Loan #162 there now. Some confusion as to whether the rate is 11% or 10% (see CR). seems to have vanished again.
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j
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Penguins are very misunderstood!
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Post by j on Mar 12, 2015 17:46:09 GMT
Loan #162 there now. Some confusion as to whether the rate is 11% or 10% (see CR). seems to have vanished again. Seen it 20 mins ago, went to make a cup of tea & went back to access docs then poof...gone. Is this a hide & seek game & we've not been invited 
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spockie
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Post by spockie on Mar 12, 2015 19:41:39 GMT
Seen it 20 mins ago, went to make a cup of tea & went back to access docs then poof...gone. Is this a hide & seek game & we've not been invited Seems to be back again now...
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mikes1531
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Post by mikes1531 on Mar 19, 2015 16:46:21 GMT
The St*******ge Dev******** loan (#56) is to be repaid and replaced by a new loan in the next month or so. On 13/Mar, the new loan was reported to be at the underwriter auction stage. Inasmuch as it hasn't appeared on the Upcoming Loans list, I presume that means it isn't fully funded yet. Should holders of the current loan be worried that the new loan might not happen and the first loan would then default?
Is anyone here who has access to the underwriters' part of the website willing to let us know whether the underwriting phase looks to be proceeding normally, or whether AC might have difficulty funding the follow-up loan?
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bugs4me
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Post by bugs4me on Mar 19, 2015 17:40:59 GMT
The St*******ge Dev******** loan (#56) is to be repaid and replaced by a new loan in the next month or so. On 13/Mar, the new loan was reported to be at the underwriter auction stage. Inasmuch as it hasn't appeared on the Upcoming Loans list, I presume that means it isn't fully funded yet. Should holders of the current loan be worried that the new loan might not happen and the first loan would then default? Is anyone here who has access to the underwriters' part of the website willing to let us know whether the underwriting phase looks to be proceeding normally, or whether AC might have difficulty funding the follow-up loan? No insight apart from an answer given by AC on the 12th March -
'....The new loan is for £567,000, LTV 47.25%, terms tbc. The drawdown is dependent on legal documentation and could be approximately 4 weeks from auction closure on Monday....'So I would have assumed we're looking at 4 weeks from the 16th March. Originally it was indicated that existing lenders would have the opportunity of rolling their existing investments into the new one but apparently this has been rescinded as the new loan is vastly different to the original so is being treated as new. I'm not sure I understand this aspect ATM but maybe everything will be revealed. Also answered by AC on the 10th March -
'....However, once this is funded we will look to ensure that all lenders are provided with 48 hours notice to drawdown to allow them to put targets in place for the loan so that when they receive repayment they will be able to buy units in the new loan from repayment of the old loan....'
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Post by pepperpot on Mar 19, 2015 17:58:11 GMT
I'm bracing for a change of rate (lower, possibly much lower), and as such it would be wrong to just roll into a new risk/reward ratio. The 48hrs notice will make a nice change though.  |
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mikes1531
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Post by mikes1531 on Mar 19, 2015 21:21:01 GMT
I'm bracing for a change of rate (lower, possibly much lower), and as such it would be wrong to just roll into a new risk/reward ratio. The 48hrs notice will make a nice change though. I wouldn't be surprised by a lower rate, and agree it would be wrong to automatically roll investments forward. But I'm not sure this is that different from SCP&M T1/T2, where lenders were given the option to roll if they said they wanted to. In that case, however, nothing happened unless they made a specific request, and I would have thought that would be just as appropriate here. Then again, if the new loan is a lot bigger than the old one, there's unlikely to be so much instant uptake that anyone who wants to roll might miss the opportunity to do so if it didn't happen before the new loan was released. So there's probably no reason/pressure to offer a rollover option. Besides, with the bad taste of SCP&M T2 being so fresh in people's memories, I can see why AC would want to tread very carefully with this one. On a related point, an earlier post suggested the auction was scheduled to end on the 16th. Can anyone remember whether a loan automatically shows up in the Upcoming list as soon as underwriter funding is in place? Or do AC often wait until a bit further on in the DD process before allowing a new loan to appear in that list?
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Post by Ton ⓉⓞⓃ on Apr 7, 2015 11:45:23 GMT
Cumbrian Anaerobic Digestion Plant #160 up to 5years, rate 10%, ltv53%, first charge on the plant itself. A lot to read... It says this one will be one for the "Green Energy A/c" This loan is at 13% while a temporary charge is in place, it's expected to revert to 10% when the paperwork/legals are as first agreed. That's my understanding. I wonder if this interest rate drop is expected by those who don't use the forum, AC seem to have sold a lot, I'm sure the u/wers are happy though. Nice work while you can get it...
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