jimc99
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Post by jimc99 on Dec 17, 2015 9:48:23 GMT
Hi....Thinking of investing in AC. I am already with RS, MT, FS, SS and Mintos.
Be grateful for current AS lenders view of the platform, ease of lending, which investment option is preferred, etc.
Thanks.
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SteveT
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Post by SteveT on Dec 17, 2015 10:13:31 GMT
I like AC (I also use SS, MT, FS, FC and occasionally AR, ReBS and LC), more so now the new loan pipeline seems to be working again. New AC lenders often seem confused by the mechanics of lending via the MLIA but it's actually very simple. See here for some basic guidance: p2pindependentforum.com/post/74921/thread |
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ianj
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Post by ianj on Dec 17, 2015 13:46:22 GMT
I also like AC. The MLIA lending mechanism, maligned by some as being over-complicated, is really quite simple and very flexible once understood.
AC are, however, not so good at 'managing expectations'. What I don't like currently is the lack of certainty relating to loan drawdown allocation, and the resultant lack of ability to plan finances with any certainty.
Financial management can be easier on other platforms. On MT & FS, all lenders know exactly what they can get, if they're quick enough. With SS you might not get what you want (there is information collected by others to help lenders predict what the allocation % might be), but you don't have to tie-up any money until the allocation is made. AR have tried, with partial success, to produce an allocation mechanism that is nearly predictable, but again you didn't have to put-up any cash until you knew what you had been given. Also of significance, if your not allocated what you really want, all these platforms facilitate swift cash withdrawals.
Meanwhile, AC have introduced so many variables into the apportionment equation, that they now claim that they cannot predict how much of any loan will be available for splitting between MLIA, GBBA/GEIA and QAA investors, neither can (will?) they indicate the ratios that will be applied.
The latest PR debacle (loan #199), an initial maximum allocation of £40 per MLIA lender & £380 per GEIA lender, was greeted by universal disbelief/dismay/anger and resulted in a u-turn, a further distribution just over £1400 maximum.
In the coming I months I hope to have a good sized sum to invest, but until there is greater transparency/certainty at AC, I can only ever see myself feeding in small amounts at any one time, much less than I might really wish.
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