duck
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Post by duck on Dec 11, 2015 18:02:01 GMT
£40.24 allocations to my personal and business accounts even though they had different bids in. The GBBA was certainly 'buying' although my partners account (that was already fully invested) didn't buy much
Purchase loan part xxxxx (old id xxxx) for 0.0000000000000000000300000000000000450000 GBP - annualised rate 7.000, loan: Galashiels development loan (M**** & B***** Ltd) (199)
I almost resent having to make a new line in the spreadsheet for that 
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Dec 11, 2015 18:05:02 GMT
Well, just don't eat too many bananas beforehand - it's been on the downward section of the roller coaster the past week or two, so not for the weak stomached. Yes, watching the slide .... how low to go before I put a bit in? I did something minor on today's 12:00 valuation, and was surprised it fell nearly another 1%. Markets are positioning for next Wednesday's expected rate hike in US - there were further good retail figures out from there this afternoon, so more traders moving to the 'certain move' side of the conundrum. (Stocks don't like higher interest rates in general).
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ianj
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Post by ianj on Dec 11, 2015 18:15:36 GMT
If the money has gone to 'less interesting' homes, I consider it it quite insulting. I've many, more vituperative, thoughts, but sensitive souls, and my blood pressure, deserve some consideration! I almost resent having to make a new line in the spreadsheet for that My spreadsheet entry has been sitting there empty for so long it's developed a 'complex', and wants to see a therapist!. |
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Post by mrclondon on Dec 11, 2015 18:22:11 GMT
Following this weeks announcement that ThinCats has effectively been bought out thereby reducing the platform risk arising from the previous ineffective management team, the pendulum looks to be swinging firmly back towards TC with its £1000 minimum stake per loan.
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brad
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Post by brad on Dec 11, 2015 18:33:53 GMT
So it appears that AC are now stuffing the people that got them to where they are now. If this is how it's going to be from now on then it really is a waste of time & effort being with them. Totally not impressed with £40 poxy quid on a $950k loan.
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Post by phlitb on Dec 11, 2015 18:37:48 GMT
I hedged my bets beforehand assigning spare cash to both the MLIA and GBBA, resulting in allocations of:
MLIA : £ 40.24
GBBA : £341.91
So pretty clear that the GBBA snaffled the lion's share of this loan
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agent69
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Post by agent69 on Dec 11, 2015 18:38:15 GMT
I'm stunned. I knew I was going to be disappointed - but I feel a Victor Meldrew moment coming on. Wot? Is Mrs Worboys walking up the drive?  Always thought Mrs W was a bit of a goer on the quiet. Think Victor may have missed a chance there.
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pikestaff
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Post by pikestaff on Dec 11, 2015 18:40:26 GMT
If £40.24 is all I'm going to get I am wasting my time waiting. Most of my uninvested funds are off to TC.
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agent69
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Post by agent69 on Dec 11, 2015 18:41:03 GMT
I think a quick look at the stock market may be in order on Monday. Well, just don't eat too many bananas beforehand - it's been on the downward section of the roller coaster the past week or two, so not for the weak stomached. Currently at a 10 week low. Was only a couple of weeks ago that experts were reminding us of the fact that the index always goes up in December.
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j
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Penguins are very misunderstood!
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Post by j on Dec 11, 2015 18:43:34 GMT
Of what I underwrote, I retained 10%. The other 90% sold down instantly. No idea where it went but my buy-and-hold MLIA account got £40.24 which on a six figure holding is not even a rounding error. I've just withdrawn another five-figure sum from AC. I've got zero interest in paying away yield for provision funds I don't need on the GBBA and GEIA and I don't understand other lenders love for the QAA. A barbell of 25% SS@12% and 75% bank depo@1% gives me the same 3.75%, with better liquidity in a stress scenario. Lenders are giving AC cheap cash to underwrite deals and push loan yields lower. The MLIA simply isn't getting enough priority for my liking. Am I correct in remembering that UWs have to sell 50% of their holding within a certain timeframe? (As opposed to the 90% you sold)
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agent69
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Post by agent69 on Dec 11, 2015 18:45:46 GMT
If £40.24 is all I'm going to get I am wasting my time waiting. Most of my uninvested funds are off to TC. Currently lots of options at TC on the SM due to it getting a bit constipated by TLC's trying to liquidate their positions.
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j
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Penguins are very misunderstood!
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Post by j on Dec 11, 2015 18:48:40 GMT
Due to reduced rates, I toned down my investments greatly over last couple of loans (£100 each only!) & still got paltry sums allocated - even after taking the size of loans into account. If AC don't deliver on their recent promises in terms of much improved pipeline size & frequency, I dare say this will be the last straw for many small to mid level investors. Even UWs don't sound happy with the current situation.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Dec 11, 2015 18:53:19 GMT
Well, just don't eat too many bananas beforehand - it's been on the downward section of the roller coaster the past week or two, so not for the weak stomached. Currently at a 10 week low. Was only a couple of weeks ago that experts were reminding us of the fact that the index always goes up in December. By experts you mean drones who have to just come up with any old copy because space has to be filled. They clearly forgot that most Decembers don't have an almost certain US rate hike in the middle of them and an oil market share war - d**kh**ds, the lot of them. Edit: Still, they could end up being right in the end - there's a good chance it will reverse back up whether the rate is hiked or not - such is the way of the markets 
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j
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Penguins are very misunderstood!
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Post by j on Dec 11, 2015 19:21:31 GMT
samford71 Am I correct in remembering that UWs have to sell 50% of their holding within a certain timeframe? (As opposed to the 90% you sold) Underwriters get no choice on time-frame. Whatever they haven't explicitly retained (max 50%) goes straight to the AM. So if there is demand they will lose it instantly (as I did). You can't dribble it out. We can see from phlitb comment that the GBBA has seemingly got a much larger allocation on an individual lender basis. It seems the GBBA got priority on this loan over the MLIA (we have no idea if instos took a share or if the QAA did). So an 11% yielding 51% LTV loan ends up in a 7% yielding account with a 5% provision fund. Brilliant! I'm starting to see some real issues with the QAA/GBBA/GEIA. Clearly as an equity holder I like the fact AC is coming up with popular products. As an MLIA lender, I feel like a second class citizen. The GBBA seems to be getting preferential access to buying new loans. The QAA gets preferential access when selling loans. That adds up to me requiring a liquidity premium to use the MLIA. Moreover, AC, with it's product range, is starting to feel more like a collective investment manager running a bunch of 'funds' than an agent for direct P2P lending. AC seems to be making numerous discretionary decisions where certain loans go, without explicitly telling me the rules or how certain accounts are constructed (QAA). I find it very alarming that AC decide to give a much bigger allocation to GBBA holders at a reduced rate, pocketing the difference (albeit going into PF). Doesn't say much for fairness or parity to those willing & taking a greater level of risk (no PF) on mlia! They are getting away with it as there is demand atm but for how long? With developments at TC as well, I wonder if that will have a +ve or further -ve effect of AC's allocation & declining rate policies. If TC decide to go down the institutional route AC seem to be following, then the latter it will be. Oh well, there's always SS
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Dec 11, 2015 19:35:06 GMT
Underwriters get no choice on time-frame. Whatever they haven't explicitly retained (max 50%) goes straight to the AM. So if there is demand they will lose it instantly (as I did). You can't dribble it out. We can see from phlitb comment that the GBBA has seemingly got a much larger allocation on an individual lender basis. It seems the GBBA got priority on this loan over the MLIA (we have no idea if instos took a share or if the QAA did). So an 11% yielding 51% LTV loan ends up in a 7% yielding account with a 5% provision fund. Brilliant! I'm starting to see some real issues with the QAA/GBBA/GEIA. Clearly as an equity holder I like the fact AC is coming up with popular products. As an MLIA lender, I feel like a second class citizen. The GBBA seems to be getting preferential access to buying new loans. The QAA gets preferential access when selling loans. That adds up to me requiring a liquidity premium to use the MLIA. Moreover, AC, with it's product range, is starting to feel more like a collective investment manager running a bunch of 'funds' than an agent for direct P2P lending. AC seems to be making numerous discretionary decisions where certain loans go, without explicitly telling me the rules or how certain accounts are constructed (QAA). I find it very alarming that AC decide to give a much bigger allocation to GBBA holders at a reduced rate, pocketing the difference (albeit going into PF). Doesn't say much for fairness or parity to those willing & taking a greater level of risk (no PF) on mlia! They are getting away with it as there is demand atm but for how long? With developments at TC as well, I wonder if that will have a +ve or further -ve effect of AC's allocation & declining rate policies. If TC decide to go down the institutional route AC seem to be following, then the latter it will be. Oh well, there's always SS The masses are starting to get interested in p2p - there will be a huge demand for funds in the not-too-distant future, which is where AC seem to be aiming. It's some time since I accepted that the money I make in the future from AC will be via my forthcoming shareholding rather from MLIA, which is fine by me. My lending can be done elsewhere; things change. Doesn't do to get sentimentally attached to organisations or platforms - they do what they do for their own reasons, and it either suits us or it doesn't. If it doesn't we move on.
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