happy
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Post by happy on Oct 24, 2016 20:10:18 GMT
I've given up chasing any new loan launches on AC, partly because around 95% of them are of no interest to me (sub 10%), partly because MLIA lenders are generally allotted peanuts and partly because the long-promised MLIA tools to reserve funds for new loans, etc, have never materialised. As to this latest diamond loan, I suspect it will be fairly simple to accumulate whatever I want via the SM over a few days / weeks post-launch. Saves a lot of needless messing around. As per previous post, it appears that MLIA lenders are at the very bottom of AC's priority list these days. My new-to-AC experience differs markedly from that, I have to say. After trying - and failing miserably - to get any money invested in the GBBA and GEIA, I took the time to go through the MLIA accounts, and set investment instructions for all those I'm interested in. And... they're filling rapidly. All the money that the GBBA/GEIA was uninterested in has been invested - and much more. I agree, yes AC is not for the big hitters as the initial allocation can be is always disappointing but with buy instructions on a few hundred or so of my favorite loans and i have a pretty good 5 figure portfolio built up returning almost 10% with no hassle at all. I liken investing in AC a bit like always driving down the middle lane of the motorway, don't need to worry about the hassle of traffic joining/exiting, don't bother with all that stressful fast lane overtaking stuff, just sit back and literally go with the flow.........  Advisory: This post is my personal opinion and does not constitute a recommendation to invest in AC or any other P2P platform. I neither practice nor condone the act of compulsive middle lane driving and this post should not be considered advice that middle lane driving in any way leads to a more stress-free and fulfilled life.
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Steerpike
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Post by Steerpike on Oct 24, 2016 20:17:41 GMT
Investing in AC is a bit like making love to a beautiful woman, you have to take your time, give every part your loving attention, hand over all your money, wait patiently, and be grateful for what you get.
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Post by bracknellboy on Oct 24, 2016 20:27:42 GMT
... I liken investing in AC a bit like always driving down the middle lane of the motorway, don't need to worry about the hassle of traffic joining/exiting, don't bother with all that stressful fast lane overtaking stuff, just sit back and literally go with the flow......... Well i just hope that you pay more attention to the 'highway code for p2p lending' than those middle lane drivers do to the real thing.
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Post by bracknellboy on Oct 24, 2016 20:49:19 GMT
Investing in AC is a bit like making love to a beautiful woman, you have to take your time, give every part your loving attention, hand over all your money, wait patiently, and be grateful for what you get. : you are DEFINITELY mixing with the wrong kind of women. And anyway, surely your 'strapline' of "A long time ago I deposited funds on an equity crowdfunding website with the expectation that one day I might get a few shares in Assetz Capital" waved in front of them should be sufficient to remove most of the above requirements 
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adrianc
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Post by adrianc on Oct 24, 2016 21:47:38 GMT
Steerpike : you are DEFINITELY mixing with the wrong kind of women. Oh, I dunno...
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Post by jevans4949 on Oct 25, 2016 10:13:24 GMT
Investing in AC is a bit like making love to a beautiful woman, you have to take your time, give every part your loving attention, hand over all your money, wait patiently, and be grateful for what you get. ... and hope she doesn't run off with your life savings.
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Post by Deleted on Oct 25, 2016 12:44:05 GMT
Another vote for the shrapnalator which is probably the only reason I have anything still in AC given their performance across the rest of the board
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trouble
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Post by trouble on Oct 25, 2016 13:25:16 GMT
It was fun whilst it lasted.
They do get far less moans and groans on here now (almost) everyone has given up, so as a business model it must be way more efficient not having to monitor and deal with us lot anymore.
Wonder whatever happened to the suggestions for improvements bin?
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jjc
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Post by jjc on Oct 26, 2016 16:06:29 GMT
Diamonds drawn. £2.476m available (but not sure MLIA lenders have got their allocations yet)
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oldgrumpy
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Post by oldgrumpy on Oct 26, 2016 16:16:29 GMT
With £2M+ on the market it would seem MLIA investors all received what they asked for. Hardly surprising. Did GBBA take any, or is it "too foreign".
Amazingly, I managed to dump quite a bit of 8% temporary loan parts as late as this morning. Not much chance of doing that right now!
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trouble
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Post by trouble on Oct 26, 2016 16:48:07 GMT
I got everything i asked for in Diamonds at 4:30, all £2 of it  so I presume all pre-funded targets for MLIA have been met, might be some underwriters holding the baby for a few weeks/months on this one and The GBBA needs property security i thought, so only MLIA able to buy the units being sold, unless AC get the QAA/30DAA to buy them up. |
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jjc
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Post by jjc on Oct 26, 2016 20:42:09 GMT
might be some underwriters holding the baby for a few weeks/months on this one
Will be interesting to see take-up, my guess is your timeline is a little long. A number of factors possibly at play. There could be a fair number of TC lenders who haven't migrated over yet (enjoying the default interest to the very end there in the expectation it wouldn't be hard to buy initially on AC), if 1 in 4 do that's £1m. Secondly I suspect both underwriters & MLIA lenders will have set cautious targets initially, waiting to see how things pan out. And, as you say, QAA/30D could be tempted to take a larger slice. The MSM promo on the 30D is still active & Santander's drop in rates kicks in 1st Nov. If either of these swing sizeable funds over onto QAA/30D the diamond loan will be the easiest way for AC to deploy these funds earning a tidy margin on the juicy 11.5% rate (as opposed to losing money by holding in cash). Finger in the air my guess is the diamonds will have gone by end of Nov, & who knows maybe sooner. Edit: crossed with MONEY who is having similar thoughts. Hard to guage how much TC money has followed across already, if there is more on the way (as I suspect there is) take-up could be quicker than some might think. This is a new asset class for AC lenders but the borrower has a proven track record on TC.
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trouble
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Post by trouble on Oct 26, 2016 20:56:24 GMT
JJC I like hedging my investments (end of November is a few weeks  ) might be some underwriters holding the baby for a few weeks/months on this one
I actually reckon it'll still be significantly unsold beyond the end of November (say £300k of it), so I'll give you the spread odds pre 30/11 and I'll take them post 30/11. Imaginary beer on it? Will be interesting to see take-up, my guess is your timeline is a little long. Finger in the air my guess is the diamonds will have gone by end of Nov, & who knows maybe sooner. |
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warn
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Post by warn on Oct 27, 2016 7:21:46 GMT
The GBBA needs property security i thought... I think that too, but can't remember why. Have the criteria for GBBA-eligibility been published anywhere on the AC website? I haven't been able to find them.
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pikestaff
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Post by pikestaff on Oct 27, 2016 7:51:00 GMT
The diamond loan has drawn down. As of now £2,436,144.56 is showing as available but only £244.23 of my much larger order has been filled. Any ideas why? Are others seeing a similar blockage?Edit: Thanks, SteveT. Brain dead on my part. It's been so long since I topped up at AC, I forgot to transfer the cash to my MLIA.  warn The GBBA criteria are here (click on "Automatic loan selection and diversification"): www.assetzcapital.co.uk/our-investment-accounts/gb-account/. I would interpret these as excluding it, but "property" is not defined. |
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so I presume all pre-funded targets for MLIA have been met, might be some underwriters holding the baby for a few weeks/months on this one
) might be some underwriters holding the baby for a few weeks/months on this one
