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Post by Ton ⓉⓞⓃ on Feb 2, 2016 14:35:53 GMT
Thanks to all for the helpful responses. Final question: what happens if big loans like the one on Friday take an extended period of time to fill (or possibly even fails to fill?). Many platforms don't pay any interest until a loan has been fully filled, slightly concerned that a large bid could sit earning 0% for some time or be refunded with no gains if unfilled. The loans are underwritten and we are buying off of 'them'
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sl75
Posts: 2,092 
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Post by sl75 on Feb 2, 2016 15:10:20 GMT
Thanks to all for the helpful responses. Final question: what happens if big loans like the one on Friday take an extended period of time to fill (or possibly even fails to fill?). Many platforms don't pay any interest until a loan has been fully filled, slightly concerned that a large bid could sit earning 0% for some time or be refunded with no gains if unfilled. By the time the loans are in the "upcoming loans" section they're already filled. The bidding process occurs on a part of the platform that we as mere retail investors cannot access. Underwriters are obliged to release at least 50% of their loans to the market on drawdown, which is when we can first access them. More recently, AC have developed a new process where we presume the QAA itself is acting as an underwriter (and appears to be exempt from the usual underwriter requirement to immediately release 50% of the new loan to the marketplace). You need to keep your ear to the ground though, as AC never seem to keep the rules unchanged for long!
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Post by chris on Feb 2, 2016 15:10:38 GMT
Thanks to all for the helpful responses. Final question: what happens if big loans like the one on Friday take an extended period of time to fill (or possibly even fails to fill?). Many platforms don't pay any interest until a loan has been fully filled, slightly concerned that a large bid could sit earning 0% for some time or be refunded with no gains if unfilled. As Ton ⓉⓞⓃ says all loans that appear to lenders, including the majority of those show in the upcoming loans section (and all of those in the top part of that screen), have already been fully funded. If a loan is listed on that page we currently estimate it's around 90% likely to draw down with the others dropping out as final due dilligence takes place. We do need more data to improve on that estimate though as this is a new screen. So that includes the £6m loan for Friday which is fully funded and will earn you interest from the day you invest.
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tomtom
Member of DD Central
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Post by tomtom on Feb 2, 2016 22:59:49 GMT
Is ther any way that I can see what investment I have in either the green or Great british investment units without having to trawl through the reports for those two investment funds?
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mikes1531
Member of DD Central
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Post by mikes1531 on Feb 3, 2016 4:24:26 GMT
Is ther any way that I can see what investment I have in either the green or Great british investment units without having to trawl through the reports for those two investment funds? Not that I am aware of. AC have been asked to provide such info and they have declined to do so. IIRC it's because they think investors should consider the GEIA/GBBA to be 'black box' products where the investor shouldn't care how their money actually is invested.
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