|
|
Post by chris on Oct 2, 2015 18:26:57 GMT
Having been stung by the complexity of QAA, I have taken to withdrawing all spare money from AC and only funding when a loan offer is irresistible. As a result, money going into AC is less than it would have been. I can't be doing with an account with 3-4 hidden sub accounts and rules that are unfathomable and keep changing. AC. I suggest you dump QAA and start again. What's unfathomable and what keeps changing with regards to the QAA? Nothing's changed since launch with regards to the rules of the account, and the QAA is massively oversubscribed as it's proven more popular than even we expected, to the extent we've had to pull planned advertising for it. Draw downs are the only thing holding us back at the moment and damaging the cycling of cash through the QAA and andrewholgate is personally on the case and focussing on that aspect of the business to improve things.
|
|
|
|
Post by chris on Oct 2, 2015 18:31:37 GMT
Interest payment delayed? Till 1st November but they already know they can afford to pay the full amount? I don't know how the QAA works internally but, perhaps because that ignorance, I'm starting to feel a slight unease about the ability of the QAA to deliver. QAA interest is paid for by loan interest. As much as I'd personally like to work around that as it would make my life easier that is what we're authorised to do so I have to operate within that framework. Therefore we know how much is lent, when the repayment dates are, how much will be repaid on those dates, etc. We're allowed to guarantee those repayments using the provision fund but not to top them up beyond what is due from the borrower or make early repayments. That's why it would be difficult to bring the repayment date forward to the 1st and we have to push it back to the next 1st of the month to give those loans a chance to make their payments and fill the buffer. It's also limiting us increasing the cap until such time as we know we can deploy the funds, which has been frustrating with the drawdown delays, but Andy is on the case with those so we just need to carefully time any increases with when we can deploy the funds and when repayments would then fall due.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087 
Likes: 3,233
|
Post by oldgrumpy on Oct 3, 2015 18:45:45 GMT
...and the QAA is massively oversubscribed as it's proven more popular than even we expected...
It must be. Despite regular and spaced out loan repayments over time and the settling of LeicesterCH, nothing has moved from the queue to my QAA for many days. I will have to remove a good four figure sum from my MLIA if any more delays are applied to the current set of drawdowns and the QAA is not boosted. I think we need some kind of Q indicator to show us that our funds are actually moving forward, though that hardly seems a priority for the IT team.
If no-one can spend anything because of the continued and persistent drawdown multi-postponements, a lot of cash will disappear... I mean will be withdrawn from the site.
Only #202 and #205 are still listed for the coming week, and neither has had underwriting funds called on, so they will be next for the postponement.....unfortunately. Didn't someone say we could expect three to four loans per week somewhere?
End of grump ... now to watch England thrash the Aussies ..... errrrmmm..... better have plenty of ale to hand ... I may be even more grumpy in two hours time.
|
|
agent69
Member of DD Central
Posts: 6,044
Likes: 4,437
|
Post by agent69 on Oct 3, 2015 19:48:39 GMT
I may be even more grumpy in two hours time.
Do you want to start now, or are you going to wait for a miracle in the second half?
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 4, 2015 8:55:57 GMT
|
|
|
|
Post by Ton ⓉⓞⓃ on Oct 4, 2015 9:45:27 GMT
|
|
|
|
Post by crabbyoldgit on Oct 4, 2015 11:52:48 GMT
Daughter went to pub with boyfreind and loads of all men mates ,came home after match ,boyfreind came home 0430 with a present for her a traffic cone .well now i know what to buy him for xmas
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 5, 2015 13:09:27 GMT
...and the QAA is massively oversubscribed as it's proven more popular than even we expected...
It must be. Despite regular and spaced out loan repayments over time and the settling of LeicesterCH, nothing has moved from the queue to my QAA for many days. I will have to remove a good four figure sum from my MLIA if any more delays are applied to the current set of drawdowns and the QAA is not boosted. I think we need some kind of Q indicator to show us that our funds are actually moving forward, though that hardly seems a priority for the IT team....
Still nothing moved into QAA. Is a set of several £25K deposits more than a week ago blocking everyone one from moving any of their daily repayments from entering the QAA? If so how did they get to the front of the Q? About to withdraw £**** from the platform to get 12% + 1% cashback (with fairly easy exit if needed later) from the Wolverhampton development, which I can watch progressing each time I go to Sainsbury's for my bananas. cobblers day - see my next post 
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 5, 2015 13:27:43 GMT
Yes, it's cobblers day today.
0.5%...I have been talking cobblers.
...and on reflection, some of that last post of mine about the QAAQ is cobblers too. The QAA is probably stuck because of members (like me!!) who refuse to spend anything we already have got in the QAA, and carefully feed our MLIAs whenever we get the occasional opportunity to actually buy anything.
So I'm to blame too? Too bad the AC haven't had anything to sell for most of the last two months.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 6, 2015 13:45:15 GMT
I still have not progressed anything into QAA for a very long time. Today, #205 Nelson (not my favourite new offering) draws down without underwriters being required. So, there are >£75K in set targets. So, lots of cash should disappear from MLIA, and (hopefully QAA). So, maybe we will all move forward in the Q and (after nothing since September 11, that 25 days - despite hundreds of sale and repayment payments into the MLIA; I've just checked back) have some of our idle money placed in QAA.
So, I feel optimistic ...... I think.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Oct 6, 2015 14:06:30 GMT
after nothing since September 11, that 25 days - despite hundreds of sale and repayment payments into the MLIA But there will also have been lots of repayments which won't have made it into the QAA so they will have been used first on any purchases. I doubt 75k will make much of an impact on the QAA for the same reason.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Oct 6, 2015 14:36:50 GMT
I still have not progressed anything into QAA for a very long time. Today, #205 Nelson (not my favourite new offering) draws down without underwriters being required. So, there are >£75K in set targets. So, lots of cash should disappear from MLIA, and (hopefully QAA). So, maybe we will all move forward in the Q and (after nothing since September 11, that 25 days - despite hundreds of sale and repayment payments into the MLIA; I've just checked back) have some of our idle money placed in QAA. So, I feel optimistic ...... I think. : I think you need to prepare to be disappointed. Having been told by Chris that the QAA queue is "REALLY big", and knowing that the system is set up to use money that's outside the QAA 'inner circle' to settle any pre-bids, I'm not expecting any of the £75k needed for #205 to come out of the QAA inner circle. Then again, I've often been accused of being a pessimist! 
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Oct 6, 2015 14:57:20 GMT
And it might be as little as £37k5!
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 6, 2015 15:12:41 GMT
You may all be right, and Chris only reveals the information he wants to. If we knew what is date of actual funds being moved from MLIA to QAA, what is the size of the queue and at what rate such transfers are progressing we could assess whether there is any purpose whatsoever in leaving anything idle in our accounts. In my experience, that date is still on September 11. The rest of my payments into MLIA on September 11 are still waiting in MLIA, so a massive amount must have gone in between my last success and the next payment I had on the same day. Maybe Chris can say if the queue is arranged by date or by some other method. All this after AD's usual rhetoric and hype when launching a new product on the platform. "I'm not expecting any of the £75k needed for #205 to come out of the QAA inner circle."
mikes1531 I bet you will be right in that prophesy. None of my stake in #205 will come out of my paltry three figure QAA.
Perhaps I should attempt to take over #205 myself so no one else has got any, then use that as my private GQAA, releasing it during the next six weeks while September's (and August's) drawdowns drawdown. 
|
|
|
|
Post by chris on Oct 6, 2015 16:27:27 GMT
You may all be right, and Chris only reveals the information he wants to. If we knew what is date of actual funds being moved from MLIA to QAA, what is the size of the queue and at what rate such transfers are progressing we could assess whether there is any purpose whatsoever in leaving anything idle in our accounts. In my experience, that date is still on September 11. The rest of my payments into MLIA on September 11 are still waiting in MLIA, so a massive amount must have gone in between my last success and the next payment I had on the same day. Maybe Chris can say if the queue is arranged by date or by some other method. All this after AD's usual rhetoric and hype when launching a new product on the platform. "I'm not expecting any of the £75k needed for #205 to come out of the QAA inner circle."
mikes1531 I bet you will be right in that prophesy. None of my stake in #205 will come out of my paltry three figure QAA.
Perhaps I should attempt to take over #205 myself so no one else has got any, then use that as my private GQAA, releasing it during the next six weeks while September's (and August's) drawdowns drawdown.
You'll be happy to know you have £36 queued within the top 10 entries in the queue, however the rest of your funds are spread over entries down to position 5,900 in the queue with nearly a million pounds ahead of it. As I say the queue is really big and was overfilled by 50% from day two of the account launching which took us somewhat by surprise. It's levelled off since then, presumably due to funds not making it into the account and earning interest, but it's still massively oversubscribed.
|
|
