duck
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Post by duck on Nov 21, 2015 6:09:22 GMT
ditto £138.15  Likewise, £138.15, which really quite surprised me. Looks like it was rather popular, although I suspect that's more to do with recent repayments and few new homes for the cash rather than this being a stonkingly good loan. Not wishing to stir the pot (I wasn't buying into this loan personally) but I notice my partners GBBA bought £161.71 of #204 which used up all her cash (£114.41 in the instant access cash account the rest in cash).
Now I note this is higher than the twice mentioned £138.15 and I don't know if it would have bought more if she had more 'cash' sitting around I will leave you to form your own conclusions ......
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jonah
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Post by jonah on Nov 21, 2015 8:50:17 GMT
216 underwriting called. Another fast tracker? Very fast.... This is now showing as being live?!
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Post by lynnanthony on Nov 21, 2015 9:36:05 GMT
216 evidently drew down yesterday as I'm already showing interest accrued on the £2k I asked for and got. Nothing showing in Units Available so evidently enough people managed to set targets in the few hours it was upcoming.
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SteveT
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Post by SteveT on Nov 21, 2015 9:54:02 GMT
216 evidently drew down yesterday as I'm already showing interest accrued on the £2k I asked for and got. Nothing showing in Units Available so evidently enough people managed to set targets in the few hours it was upcoming. The "Underwriting Called" flag seems now to be code for "Potentially drawing down today"...
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Post by Deleted on Nov 21, 2015 11:57:14 GMT
By luck, more than judgement, I got 95% of what I wanted.
The goodnews the deals are coming through but the bad news is communication is so poor.
I guess what you might want a portal to do is:
HOW MUCH & WHEN
just how hard is it to deliver?
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mikes1531
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Post by mikes1531 on Nov 21, 2015 15:28:17 GMT
216 evidently drew down yesterday as I'm already showing interest accrued on the £2k I asked for and got. Nothing showing in Units Available so evidently enough people managed to set targets in the few hours it was upcoming. The "Underwriting Called" flag seems now to be code for "Potentially drawing down today"... : If that were the case, AC shouldn't have put the info up with an estimated drawdown date the following week. andrewholgate: Have AC abandoned the 'Fairer' part of the company motto? I'm rather upset by this fiasco. It's absolutely ridiculous -- or worse -- to list an upcoming loan with an estimated drawdown the next week, and then have it draw down on the day it first appeared, thus not giving investors any time to consider it before it drew down and having it gobbled up completely by those who happened to notice it first. I was waiting to see AC's answer to a question that was raised in the Q&A before deciding how much to invest. I thought we had a commitment from AC that we'd have a minimum of 48 hours between a loan appearing on the list and drawdown. Am I misremembering?
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mikes1531
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Post by mikes1531 on Nov 21, 2015 16:41:40 GMT
There's one other seemingly odd thing about the #216 drawdown... It doesn't seem to have had any noticeable effect on the QAA queue, which still is about £500-600k long. If, as we've been led to expect, at least £208k of the £416k new loan was offered to AC investors as soon as the loan drew down, then surely a big chunk of that would have come out of accounts using the QAA sweep option and there would have been a noticeable effect on the QAA queue. I see a couple of possible explanations for there being no obvious impact on the QAA queue... - Perhaps the proportion of AC lenders using the sweep function is a lot smaller than I expect it is; or
- Perhaps AC didn't release £200+k of the new loan as soon as it drew down.
I'm hopeful of the latter, as it might mean AC realised from the very small amount of pre-bids placed that they hadn't given their investors sufficient notice of the impending drawdown. And it might mean that there will be a significant additional amount of this loan released to us next week, so that those of us who didn't set targets the day the loan first appeared may have a chance to pick up at least a small part of this loan.
But perhaps I'm just being uncharacteristically optimistic. 
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unmadem
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Post by unmadem on Nov 21, 2015 17:37:49 GMT
The "Underwriting Called" flag seems now to be code for "Potentially drawing down today"... : If that were the case, AC shouldn't have put the info up with an estimated drawdown date the following week. andrewholgate: Have AC abandoned the 'Fairer' part of the company motto? I'm rather upset by this fiasco. It's absolutely ridiculous -- or worse -- to list an upcoming loan with an estimated drawdown the next week, and then have it draw down on the day it first appeared, thus not giving investors any time to consider it before it drew down and having it gobbled up completely by those who happened to notice it first. I was waiting to see AC's answer to a question that was raised in the Q&A before deciding how much to invest. I thought we had a commitment from AC that we'd have a minimum of 48 hours between a loan appearing on the list and drawdown. Am I misremembering? Pretty irritating to have it drawdown only a few hour after the email as by time I'd read it later that evening it was already too late. Plus there were unanswered questions in the Q&A I think. Another occasion with AC snatching defeat from the jaws of victory, alas.
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bigfoot12
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Post by bigfoot12 on Nov 21, 2015 20:52:50 GMT
I see a couple of possible explanations for there being no obvious impact on the QAA queue... - Perhaps the proportion of AC lenders using the sweep function is a lot smaller than I expect it is; or
- Perhaps AC didn't release £200+k of the new loan as soon as it drew down.
I have moved forward about £200k in the last few days. Remember AC takes money from the queue before withdrawing from QAA, so my move forward might be people in front of me in the queue exiting the queue.
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ianj
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Post by ianj on Nov 21, 2015 22:14:25 GMT
From andrewholgate following a previous 'early' drawdown....... ......I've had words that we should give investors notice if we are drawing early. I'll get back to the 75 Hail Mary's and the 4 hours of flagellation with brambles. It would appear that 'words' failed to reach the lower floors at AC Towers. Perhaps the 'barbed encouragement' should be made available for general use rather than being retained for personal entertainment. Combine that with a spell in the stocks..........!  |
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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 Nov 22, 2015 20:58:28 GMT
I have relocated the upcoming list to the first post in the thread, where i suspect, given AC's new policy of only announcing loans once funds have been called, it will wither & die.
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mikes1531
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Post by mikes1531 on Nov 22, 2015 23:33:15 GMT
... given AC's new policy of only announcing loans once funds have been called ... This new policy means we can forget about asking questions before drawdown. What's the point if the loan is going to draw down before AC answers?
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Post by chris on Nov 23, 2015 7:11:29 GMT
... given AC's new policy of only announcing loans once funds have been called ... This new policy means we can forget about asking questions before drawdown. What's the point if the loan is going to draw down before AC answers? There should be a minimum of 2 days between notification and draw down. If there is systemic abuse of this to avoid answering questions then I'm sure that will become apparent on this forum and I'll raise it at board level. That isn't what we set out to achieve.
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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 Nov 23, 2015 7:47:31 GMT
This new policy means we can forget about asking questions before drawdown. What's the point if the loan is going to draw down before AC answers? There should be a minimum of 2 days between notification and draw down. If there is systemic abuse of this to avoid answering questions then I'm sure that will become apparent on this forum and I'll raise it at board level. That isn't what we set out to achieve. Will there be a stated change in allowed response times for Q's on upcoming loans? At the moment 3 days is allowed or 5 days if AC considers it 'complicated'
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Post by chris on Nov 23, 2015 7:48:42 GMT
There should be a minimum of 2 days between notification and draw down. If there is systemic abuse of this to avoid answering questions then I'm sure that will become apparent on this forum and I'll raise it at board level. That isn't what we set out to achieve. Will there be a stated change in allowed response times for Q's on upcoming loans? At the moment 3 days is allowed or 5 days if AC considers it 'complicated' I will check and report back
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