oldgrumpy
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Post by oldgrumpy on Nov 10, 2015 15:04:23 GMT
R**** *** Inn has drawn down. I got my full desired allocation of £300. I don't think many wanted this. I got my (over-ordered) maximum request of four figures!! Will sell a bit in due course.
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Post by chris on Nov 10, 2015 15:30:13 GMT
R**** *** Inn has drawn down. I got my full desired allocation of £300. I don't think many wanted this. I got my (over-ordered) maximum request of four figures!! Will sell a bit in due course. Out of interest, why over order? It doesn't affect the amount you're allocated.
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oldgrumpy
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Post by oldgrumpy on Nov 10, 2015 15:36:36 GMT
Probably to make sure I got the maximum allowed (rather than underbidding then reciving less) while other loan drawdowns are so sparse.
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Post by Butch Cassidy on Nov 10, 2015 15:46:00 GMT
I don't think many wanted this. I got my (over-ordered) maximum request of four figures!! Will sell a bit in due course. Out of interest, why over order? It doesn't affect the amount you're allocated. Because many investors are trying, in extremis, to be loyal to AC but our only options are to either wait behind a nearly £0.5m queue to gain 3.75% or invest in a couple of unwanted SM offerings at similar rates. Many less loyal investors would already have withdrawn their funds to invest on competitor platforms often at much higher rates! I know there will be plenty of jam tomorrow - I've heard it for over 12 months now.
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tonyr
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Post by tonyr on Nov 10, 2015 17:05:14 GMT
R**** *** Inn has drawn down. I got my full desired allocation of £300. I don't think many wanted this. I got my (over-ordered) maximum request of four figures!! Will sell a bit in due course. I got £1800 which was all the cash I had available. Had I know that I'd get all of my cash I'd have freed up some more cash. Can anyone say what the limit was?
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oldgrumpy
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Post by oldgrumpy on Nov 10, 2015 17:55:03 GMT
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agent69
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Post by agent69 on Nov 10, 2015 18:13:33 GMT
R**** *** Inn has drawn down. I got my full desired allocation of £300. I don't think many wanted this.
Any idea why? I thought it was a reasonable punt investment for something west of the Tamar Bridge.
I suspect that like many I have a bit more than I would normally take, looking to off load some to free up cash when the next loan draws down
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Post by phlitb on Nov 10, 2015 18:22:15 GMT
Whilst my MLIA also picked up my desired allocation, my GBBA acquired the princely sum of £0.0000000000000000021. I'm not complaining, but I must admit I hadn't previously realised that the MLIA had such priority over the other accounts, I was under the mistaken impression that all accounts had equal weight. Perhaps it will pick up some more when all those that "overbid" decide to sell...
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kermie
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Post by kermie on Nov 10, 2015 18:57:15 GMT
I don't think many wanted this. I got my (over-ordered) maximum request of four figures!! Will sell a bit in due course. I got £1800 which was all the cash I had available. Had I know that I'd get all of my cash I'd have freed up some more cash. Can anyone say what the limit was? I got £3k, which was what I ordered (although I was not expecting to get that, I have to admit). Will probably sell down a little in due course, but not in a rush.
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tonyr
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Post by tonyr on Nov 10, 2015 19:24:48 GMT
I got £1800 which was all the cash I had available. Had I know that I'd get all of my cash I'd have freed up some more cash. Can anyone say what the limit was? I got £3k, which was what I ordered (although I was not expecting to get that, I have to admit). Will probably sell down a little in due course, but not in a rush. Interesting, thanks. So someone got more than £3k. When you want to sell you'll have loads of buyers, myself included. Not that I think it's a great loan but more that there is nothing else to buy right now. It's horrible - most of the loans must be going to the QAA, Victory Park Capital and whoever the new one is. Running a MLIA account is now a miserable experience.
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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 Nov 10, 2015 19:59:03 GMT
I got £3k, which was what I ordered (although I was not expecting to get that, I have to admit). Will probably sell down a little in due course, but not in a rush. Interesting, thanks. So someone got more than £3k. When you want to sell you'll have loads of buyers, myself included. Not that I think it's a great loan but more that there is nothing else to buy right now. It's horrible - most of the loans must be going to the QAA, Victory Park Capital and whoever the new one is. Running a MLIA account is now a miserable experience. I believe some loans are only going to the GBBA or QAA. I had a buy instruction on loan 182 for weeks and got nothing. I then changed my instruction to sell £52. It sold immediately and shows as a single entry in the MLIA log, that means it all went to one person, or more likely the GBBA or QAA. Targeting high interest loans for the GBBA or QAA should be stopped. I'm also suspicious as to why AC didn't stop trading the loan when it was 7 days overdue (I thought it was automatic). My theory is that all the GBBA holdings need to be sold when a credit event occurs, and they probably didn't want that.
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sl75
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Post by sl75 on Nov 11, 2015 7:17:12 GMT
I don't think many wanted this. Any idea why? I thought it was a reasonable punt investment for something west of the Tamar Bridge.
I suspect that like many I have a bit more than I would normally take, looking to off load some to free up cash when the next loan draws down
I expect a lot of potential buyers never saw it - in an environment when most drawdowns are only initially due in a few weeks, and typically get delayed by a few more, and buying targets can be set at any moment during those weeks/months for the same effect, who's going to bother checking often enough to be sure of spotting one that draws down within a matter of a few days? [apart from us forum users of course!]
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Post by chris on Nov 11, 2015 7:28:57 GMT
Any idea why? I thought it was a reasonable punt investment for something west of the Tamar Bridge.
I suspect that like many I have a bit more than I would normally take, looking to off load some to free up cash when the next loan draws down
I expect a lot of potential buyers never saw it - in an environment when most drawdowns are only initially due in a few weeks, and typically get delayed by a few more, and buying targets can be set at any moment during those weeks/months for the same effect, who's going to bother checking often enough to be sure of spotting one that draws down within a matter of a few days? [apart from us forum users of course!] We'll be making some changes in the next couple of weeks to help with this. Loans won't be shown in the preview list until underwriter funds have been called. However an automatic email will be sent to all lenders whenever a new loan is added to that list and the list itself is going to be promoted to being directly linked from the "Loan Book" link in the top menu bar (i.e. it will list "Your loans", "Browse loans", "Upcoming loans", ...). The "Browse loans" button on the MLIA investment box will also change to produce a drop down menu showing "All available loans" and "Upcoming loans". This should be more consistent as well as making sure preview loans is more visible to new lenders.
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Post by chris on Nov 11, 2015 7:48:04 GMT
Loans won't be shown in the preview list until underwriter funds have been called. Makes AC's less open to complaints about dithering but reduces crowd due diligence ? There'll still be a several day window for crowd due diligence.
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oldgrumpy
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Post by oldgrumpy on Nov 11, 2015 9:25:22 GMT
I anticipate frequent empty "upcoming" lists in the next few weeks then ... nothing to look forward to ... as would be the case today. Surely more encouraging to us (and less hassle for you) to just drop drawdown dates completely until underwriting is called, stating that questions regarding drawdown dates will not be responded to until near certainty (e.g. underwriting called) is likely.
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