mikes1531
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Post by mikes1531 on Oct 7, 2015 12:09:40 GMT
Would anyone care to speculate what the maximum allocation for #205 will be? I'll start by guessing £175. You don't want to rush these things - besides, it's not like we're going to get much each. That's what I thought -- but I was wrong. Either people didn't have enough free cash in their accounts or they don't like this loan, because my £500 request was filled completely. That came as a bit of a surprise to me based on #198, which was over three times as big and had a maximum allocation of £721. And with #133 having repaid £900k last week, and there being so few re-investment opportunities, I was convinced there'd be a high demand for #205. Perhaps the underwriters released only what they had to of #205. In any case, there's none of #205 available now, so there was at least enough demand to absorb all the parts that were released. Some may have gone into the GBBA or QAA. Any that went into the QAA would help pave the way for an increase in the current £1M cap. I wonder what the maximum allocation of #205 actually was. Did anyone here request more than £500? If so, what did you receive?
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Post by pepperpot on Oct 7, 2015 12:14:17 GMT
Yes!
Result!
Got 66.6% of what I had asked for, and according to my transactions entry I am getting 18.5% interest   I'll be selling some of this when the next drawdown is imminent - using it as a temporary GQAA for a couple of weeks. Didn't spot the 18.5%, might keep it now!!! 66.6%? Do you mind telling what the cut-off for targets was?
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oldgrumpy
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Post by oldgrumpy on Oct 7, 2015 12:20:06 GMT
I bet we won't be getting 18.5% - "display issue".
No idea what the cut off for 100% allocation was - possibly £1000.
I suspect the limited demand may have been due to not liking the loan.
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mikes1531
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Post by mikes1531 on Oct 7, 2015 12:20:50 GMT
I did, but I just groaned. It's a problem caused by loans with terms shorter than 12 months. AC were made aware of the bug months ago, and have said they're working on a fix. But they must not be giving the fix any priority because it ought to be easy to correct and yet nothing has happened for a long time.
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mikes1531
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Post by mikes1531 on Oct 7, 2015 12:25:05 GMT
No idea what the cut off for 100% allocation was... If you received less than you asked for then what you got was the allocation limit. The limit is the same for everyone -- it doesn't depend on the size of the bid. You get the lesser of what you asked for or the limit.
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Post by pepperpot on Oct 7, 2015 12:44:39 GMT
No idea what the cut off for 100% allocation was... If you received less than you asked for then what you got was the allocation limit. The limit is the same for everyone -- it doesn't depend on the size of the bid. You get the lesser of what you asked for or the limit. Either OG is being coy about the size of his investment target, or, the size of his available funds that weren't enough to fulfill his target - netting only 66.6% of it. Which ever it was, I didn't think he was coy at all until now. Maybe he's still wearing his best frock!
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oldgrumpy
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Post by oldgrumpy on Oct 7, 2015 12:59:54 GMT
Told you before, peppers - that's oldfrumpy, and she prefers dates to peppers.  Me? Coy? I like McCoy's when I can get them sub "half" price!! |
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sl75
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Post by sl75 on Oct 7, 2015 13:22:33 GMT
For what it's worth, I got 99.9999999999999999453% of my available funds converted into units of this loan... make of that what you will!
As others commented, I'm also using it as a pseudo-QAA, which I'll attempt to manually liquidate if/when a loan I'm actually interested in looks in danger of drawing down any time soon - maybe selling some chunks to the real QAA.
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unmadem
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Post by unmadem on Oct 7, 2015 15:24:47 GMT
For what it's worth, I got 99.9999999999999999453% of my available funds converted into units of this loan... make of that what you will! As others commented, I'm also using it as a pseudo-QAA, which I'll attempt to manually liquidate if/when a loan I'm actually interested in looks in danger of drawing down any time soon - maybe selling some chunks to the real QAA. Last time I bought as a temporary store didn't workout so good as it was the plumber 146  . Since that lesson I've become more relaxed about having dead money and decide on whether I am happy with a loan or not. No middle ground where I think I'll hold for short while till a more attractive one comes along.
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ianb
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Post by ianb on Oct 8, 2015 15:49:25 GMT
2 new 'uns 208&209. And 194 has just drawn down !! Crikey, that was due next week sometime, caught me on the hop and currently showing nowt available.
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Post by pepperpot on Oct 8, 2015 15:50:38 GMT
It certainly would prove the worth of the QAA, but the £1M QAA limit will be a restraining factor. Those 2/Oct loans total £3.6M, so a minimum of £1.8M will be released when they draw down. If the release is more like the 70% seen with #174, then £2.5M would be released. While lenders might be happy to leave money earning 3.75% in the QAA in advance so it's available at drawdown, I'd question how many actually will do that when they realise the probability that their money would be stuck in the queue and earning nothing. Maybe they won't realise. Or maybe AC will have raised the QAA limit by then. Speaking only for myself, I'm here to invest in individual loans. The ones I pick. The only way to get any sizeable investment is to get into loans as they draw down. The only way to get into loans as they draw down is to have the money there waiting. I was doing that before the QAA came along. That some of that money is now earning interest in the QAA is great, but does not alter my "strategy" such as it is. (Are you really going to miss out on 10% for several years because you can't get 3.75% for a couple of weeks?) I'm going to start listening to your advice more! #194 has just drawn down well ahead of the indicated date. At least I got 25% of my target, but still feel frustrated.
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SteveT
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Post by SteveT on Oct 8, 2015 15:53:27 GMT
Good news: I had enough cash on hand to pick up most of my target (although still annoyed to have missed out on some) Bad news: it also cleared out the small amount of cash I had managed to get into the QAA on day 1, so I'm back to the end of the queue  |
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sqh
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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 Oct 8, 2015 16:00:49 GMT
Has anyone checked their GBBA to see if it contains loan #194. I'm surprised that £690k got swallowed up by MLIA lenders at drawdown.
Shortly, after drawdown there was 189k available for a short time. I suspect the GBBA had the lot which is annoying because it's a relatively high paying loan.
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ilmoro
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'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 Oct 8, 2015 16:01:12 GMT
Good news: I had enough cash on hand to pick up most of my target (although still annoyed to have missed out on some) Bad news: it also cleared out the small amount of cash I had managed to get into the QAA on day 1, so I'm back to the end of the queue Well thats bl***y annoying. No warning, several days earlier than even their most optimistic estimates. Almost moved cash in earlier but didnt get round to it so just todays repayments avaliable. Oh well AC lose out again, becoming a habit and not going to change until QAA gets sorted 
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ilmoro
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'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 Oct 8, 2015 16:03:44 GMT
Has anyone checked their GBBA to see if it contains loan #194. I'm surprised that £690k got swallowed up by MLIA lenders at drawdown. Shortly, after drawdown there was 189k available for a short time. I suspect the GBBA had the lot which is annoying because it's a relatively high paying loan. Well if it has, none of its ended up my way (yet) 
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. Since that lesson I've become more relaxed about having dead money and decide on whether I am happy with a loan or not. No middle ground where I think I'll hold for short while till a more attractive one comes along.
