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Post by chielamangus on Oct 1, 2015 2:04:16 GMT
With about £2.5m coming up for repayment in the next 4 weeks, and the repeated drawdown delays in the rather thin pipeline, it is becoming impossible to maintain a diversified portfolio of acceptable loans. Yes, some AC money now has to find a new home. What enterprising other platforms are offering incentives for new members?
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mikes1531
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Post by mikes1531 on Oct 1, 2015 2:49:17 GMT
What enterprising other platforms are offering incentives for new members? SS have a 0.5% cashback offer on a couple of their loans that are about to draw down. Whether there's enough time to buy parts of those loans before they actually do draw down is unknown.
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Post by chielamangus on Oct 1, 2015 8:56:38 GMT
mikes1531 Thanks - especially as the reply was in the middle of the night!
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baz657
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Post by baz657 on Oct 1, 2015 9:32:03 GMT
I've had a few hundred rattling around waiting for drawdowns and shrapnel to appear. I've waited patiently but now I've withdrawn all spare cash this morning, plus last nights' repayment, hoping to find a home that will actually get me something in return.
How can so many things at AC with all their experience be "unforeseen"?
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bigfoot12
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Post by bigfoot12 on Oct 1, 2015 13:44:47 GMT
Am I right in assuming looking at the AC account I have that there has only been one new loan? I see £13.0m drawn in the first six months of AC's financial year (April to end September). They are going to have to have an amazing six months if they are going to hit the target on the Seedrs website!
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agent69
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Post by agent69 on Oct 1, 2015 18:57:49 GMT
I've tried hard to like AC, I really have.
If it ever worked properly it would be my top investment target, but like many others, I've just got fed up with the unrealistic predictions and the non existent deal flow. Strangely I've just started cashing in my FC account (about 25% gone at 3% mark up in 2 days) so I'm going to add it to the nursing home repayment and start an SS account.
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bigfoot12
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Post by bigfoot12 on Oct 1, 2015 19:20:40 GMT
I've tried hard to like AC, I really have. Strangely I've just started cashing in my FC account (about 25% gone at 3% mark up in 2 days) so I'm going to add it to the nursing home repayment and start an SS account. I am partly the same way and partly the opposite, I have just moved money from AC to FC and SS. So far SS has been okay. I don't think it has fully changed to P2P yet so I am just toe dipping. FC I quite like now the auctions are gone. Autobid isn't great, but it is much better than it was. Today and yesterday I have bought a total of 20 loans - all new no flipping to me.
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wysiati
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Post by wysiati on Oct 2, 2015 9:35:47 GMT
Am I right in assuming looking at the AC account I have that there has only been one new loan? I see £13.0m drawn in the first six months of AC's financial year (April to end September). They are going to have to have an amazing six months if they are going to hit the target on the Seedrs website! Given the balance of refinancings etc vs. the faltering pipeline of new loans is it possible that AC's outstanding loan total has even fallen on a Q/Q or Y/Y basis? That would reflect poorly in the context of what some other platforms have achieved in a 'growth' segment. I can't see how to monitor the platform's key stats but perhaps someone else does (apologies if the answer is obvious)?
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bigfoot12
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Post by bigfoot12 on Oct 2, 2015 10:06:49 GMT
Given the balance of refinancings etc vs. the faltering pipeline of new loans is it possible that AC's outstanding loan total has even fallen on a Q/Q or Y/Y basis? That would reflect poorly in the context of what some other platforms have achieved in a 'growth' segment. I can't see how to monitor the platform's key stats but perhaps someone else does (apologies if the answer is obvious)? I have been keeping a spreadsheet of AC loans that are one the site (or have been at some time). I don't really have comparable numbers for last year, and as you mention last year many loans got refinanced by issuing a new loan as that was technologically easier at the time. I wouldn't be surprised if ACs numbers were a decline from last year. There is quite good data on altfi.com. I don't know exactly what is included. www.altfi.com/data/indices
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Post by pepperpot on Oct 3, 2015 10:56:14 GMT
Minor discrepancy? #198 is £240k not £450k.
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Post by cyrilmadrid on Oct 3, 2015 16:28:53 GMT
Sounds that the new loans are progressively breaking the 10 % barrier ? All now seem to be set around 9 %...
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Post by pepperpot on Oct 4, 2015 15:34:38 GMT
Thanks to a date or two moving there are now 6 loans targeting the 2nd of October. Whilst I would love that sort of deal flow if it was consistent, this feels potentially optimistic. If successful I assume it will prove the QAA though.  Bump  But wait, is that life I see... Underwriting called for #194.
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Post by pepperpot on Oct 4, 2015 15:44:31 GMT
But wait, is that life I see... Underwriting called for #194. It's been like that since last week when they delayed it  Oh. Still, I might pencil it in for early Nov. There I go again, being all optimistic...
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oldgrumpy
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Post by oldgrumpy on Oct 5, 2015 9:33:18 GMT
This mornings message re upcoming #200 is not showing properly in Outlook. If anyone else has problems, you can read it all by clicking "reply". I can post it here if necessary.
ed. Forget that: it's also on the loan page under "activity".
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Post by chielamangus on Oct 5, 2015 14:56:38 GMT
What enterprising other platforms are offering incentives for new members? SS have a 0.5% cashback offer on a couple of their loans that are about to draw down. Whether there's enough time to buy parts of those loans before they actually do draw down is unknown. You might now enquire of SS if there is any introducer's incentive as I have dipped my toe in ....
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