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Post by chielamangus on Dec 14, 2015 15:11:40 GMT
Point taken. I should have started my sentence quoted above with "Most". You know more about our fellow investors than I do. But given the size of the loan and the number of investors I would have thought that over half would be dissatisfied even with £1k. But only AC really know.
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sl75
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Post by sl75 on Dec 14, 2015 16:47:07 GMT
Point taken. I should have started my sentence quoted above with "Most". You know more about our fellow investors than I do. But given the size of the loan and the number of investors I would have thought that over half would be dissatisfied even with £1k. But only AC really know. Given the typically skewed nature of such distributions (e.g. 80% of the cash comes from 20% of the investors), I'd reckon the "most investors" statement would be pretty safe. There are undoubtedly plenty for whom £1k represents an amount close to their entire investment with the platform, rather than an amount to even consider per loan.
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Bagman
Member of DD Central
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Post by Bagman on Dec 17, 2015 16:09:52 GMT
There is some room at the 3.75% inn for Christmas 
£4,000,000
Current account cap
£3,649,095
Total QAA investment
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Post by msa on Dec 18, 2015 21:56:44 GMT
Excuse me if this has been addressed before:
I was moving some idle cash (which was invested in the QAA) by moving it back to cash and then into the GBBA resulting in these funds having to queue again for the QAA.
Is there a way to avoid this, i.e. can one move directly from MLIA into GBBA without the money being taken out of the QAA in the process?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Dec 19, 2015 0:51:14 GMT
Excuse me if this has been addressed before: I was moving some idle cash (which was invested in the QAA) by moving it back to cash and then into the GBBA resulting in these funds having to queue again for the QAA. Is there a way to avoid this, i.e. can one move directly from MLIA into GBBA without the money being taken out of the QAA in the process? Unfortunately, no.
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ben
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Post by ben on Dec 19, 2015 1:10:24 GMT
Excuse me if this has been addressed before: I was moving some idle cash (which was invested in the QAA) by moving it back to cash and then into the GBBA resulting in these funds having to queue again for the QAA. Is there a way to avoid this, i.e. can one move directly from MLIA into GBBA without the money being taken out of the QAA in the process? I had same too earlier which was bit annoying and there now 30,000 in front of it ah well you live and learn
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mikes1531
Member of DD Central
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Post by mikes1531 on Dec 19, 2015 3:13:25 GMT
There is some room at the 3.75% inn for Christmas
£4,000,000
Current account cap
£3,649,095
Total QAA investment
But you had to move quickly, as there's now a queue again. Which is somewhat surprising to me inasmuch as loans totalling £839k drew down today, and some £430k of that was funded by MLIAs and GBBAs and I would have expected a lot of that money to have been 'unswept' out of QAAs.
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Post by chris on Dec 19, 2015 5:44:51 GMT
There is some room at the 3.75% inn for Christmas
£4,000,000
Current account cap
£3,649,095
Total QAA investment
But you had to move quickly, as there's now a queue again. Which is somewhat surprising to me inasmuch as loans totalling £839k drew down today, and some £430k of that was funded by MLIAs and GBBAs and I would have expected a lot of that money to have been 'unswept' out of QAAs. Excluding underwriters we've had not far off £1m deposited in the last few days, and there's still a fair proportion of lenders who do not sweep funds into the QAA.
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Post by Ton ⓉⓞⓃ on Jan 4, 2016 10:02:01 GMT
Overall total limit now £5m
Edit I feel a new loan coming on...
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agent69
Member of DD Central
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Post by agent69 on Jan 4, 2016 18:12:52 GMT
Overall total limit now £5m Am I the only one wondering why the QAA needs to be so big? I thought it was suppose to be somewhere to park spare cash until the next loan arrived. The bigger it gets the more I wonder what they are doing with our cash.
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tonyr
Member of DD Central
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Post by tonyr on Jan 4, 2016 18:23:50 GMT
Overall total limit now £5m Am I the only one wondering why the QAA needs to be so big? I thought it was suppose to be somewhere to park spare cash until the next loan arrived. The bigger it gets the more I wonder what they are doing with our cash. Nooo - it's brilliant - it's a P2P account for people who don't want to understand P2P. It works like a bank account or ISA except you get better interest. Imagine how much money there is to invest in this. There are roughly 50m adults, each of which could save £15k a year into an ISA. The QAA could get to be very many orders of magnitude bigger.
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ben
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Post by ben on Jan 4, 2016 18:46:44 GMT
Am I the only one wondering why the QAA needs to be so big? I thought it was suppose to be somewhere to park spare cash until the next loan arrived. The bigger it gets the more I wonder what they are doing with our cash. Nooo - it's brilliant - it's a P2P account for people who don't want to understand P2P. It works like a bank account or ISA except you get better interest. Imagine how much money there is to invest in this. There are roughly 50m adults, each of which could save £15k a year into an ISA. The QAA could get to be very many orders of magnitude bigger. Im sure it could be pretty big but the question is why and where is the money coming from to pay the 3.75%
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Post by chielamangus on Jan 4, 2016 18:49:18 GMT
Am I the only one wondering why the QAA needs to be so big? I thought it was suppose to be somewhere to park spare cash until the next loan arrived. The bigger it gets the more I wonder what they are doing with our cash. Nooo - it's brilliant - it's a P2P account for people who don't want to understand P2P. It works like a bank account or ISA except you get better interest. Imagine how much money there is to invest in this. There are roughly 50m adults, each of which could save £15k a year into an ISA. The QAA could get to be very many orders of magnitude bigger. One man's meat ..... Everytime the QAA increases there is less available for investment in the MIA - at least, that is my understanding. So traditional AC investors should not really be welcoming the great expansion of this account. However, I think this is the future at AC. chris has referred to other accounts coming soon, so eventually I expect the direct investors who use the MIA to be marginalised and perhaps eventually eliminated. It is clearly more profitable for AC to charge 10-15 per cent and only pay 3.75 per cent (or 7 per cent via the GB & Green accounts) to its lenders, so who can blame them? If this is the future, then the faster rival companies develop the better.
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Post by chris on Jan 4, 2016 18:55:46 GMT
Nooo - it's brilliant - it's a P2P account for people who don't want to understand P2P. It works like a bank account or ISA except you get better interest. Imagine how much money there is to invest in this. There are roughly 50m adults, each of which could save £15k a year into an ISA. The QAA could get to be very many orders of magnitude bigger. Im sure it could be pretty big but the question is why and where is the money coming from to pay the 3.75% We've always been clear that all interest has to come from Article 36H agreements - i.e. interest from peer to peer loans. A percentage of the account is invested in loans with the rest held in cash to facilitate "instant" / rapid withdrawal.
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Post by chris on Jan 4, 2016 19:02:08 GMT
Nooo - it's brilliant - it's a P2P account for people who don't want to understand P2P. It works like a bank account or ISA except you get better interest. Imagine how much money there is to invest in this. There are roughly 50m adults, each of which could save £15k a year into an ISA. The QAA could get to be very many orders of magnitude bigger. One man's meat ..... Everytime the QAA increases there is less available for investment in the MIA - at least, that is my understanding. So traditional AC investors should not really be welcoming the great expansion of this account. However, I think this is the future at AC. chris has referred to other accounts coming soon, so eventually I expect the direct investors who use the MIA to be marginalised and perhaps eventually eliminated. It is clearly more profitable for AC to charge 10-15 per cent and only pay 3.75 per cent (or 7 per cent via the GB & Green accounts) to its lenders, so who can blame them? If this is the future, then the faster rival companies develop the better. AC's margin now is roughly the same it's always been, and whilst we may eventually be able to realise a bit more margin from the provision funds bursting with cash I suspect we're still a few years away from that given the impact growth of the accounts has on the percentage coverage the provision fund provides. QAA is absolutely part of our plans for the future, as are all the other existing accounts such as the MLIA. In fact over the next couple of weeks I'll be agreeing the next few months of development plans with the rest of the board and I'll be putting forward several developments for the MLIA. When the time is right I'll let you know what I'm planning.
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