daveb4
Member of DD Central
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Post by daveb4 on Jun 9, 2016 17:52:41 GMT
Personally one of my favourites as an ex business bank manager.
Probably one of the best to understand the business you are lending to via their reports.
Yes rates are going down unfortunately, I was lucky enough to be on the site for 18 months so have invested in better rates average rate 11.9% so far, no losses so far.
I will keep cash in here at the moment as I trust my skill at buying into the right buinesses in comparison to some other sites where info is minimal and more hopeful of getting your money back. I totally understand I may have some losses later on but proactively buy and sell based on updates that are added.
I have approx 30% of p2p money in here but if i need spare cash I take out and top up appropriately.
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Post by mrclondon on Jun 9, 2016 18:55:37 GMT
Isn't the answer to that more loans? I know the current pipeline isn't to everyone's tastes but given current demand it's clear there is some love for what we're doing. We have both short and longer term plans to alleviate the drought, first loans to draw tomorrow but with a steady flow by the end of the month. You will get a very different answer to how attractive more 7/8/9% loans are depending on who you ask!
Rather depends on where your funds are coming from; the avalanche of incoming Building Society Savers who previously enjoyed <1% or MLIA investors who are looking @ loans such as #166, currently paying 15%, due to repay next week but AC adamantly refuse to say what the rollover/new rate will be (other than significantly lower).
Err no that's not right ... the #166 replacement loan has been listed on the upcoming loans - pipeline probably for at least a few days now:
Development | Property development | £500,000 | 9.0% | 12 months | LTV 60% | Agreement signed 25th May 16 | Estimated drawdown June
If you hover over the > at the end of that row, you'll see the borrower's name confirmed in the url.
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Post by Butch Cassidy on Jun 9, 2016 19:06:12 GMT
You will get a very different answer to how attractive more 7/8/9% loans are depending on who you ask!
Rather depends on where your funds are coming from; the avalanche of incoming Building Society Savers who previously enjoyed <1% or MLIA investors who are looking @ loans such as #166, currently paying 15%, due to repay next week but AC adamantly refuse to say what the rollover/new rate will be (other than significantly lower).
Err no that's not right ... the #166 replacement loan has been listed on the upcoming loans - pipeline probably for at least a few days now:
Development | Property development | £500,000 | 9.0% | 12 months | LTV 60% | Agreement signed 25th May 16 | Estimated drawdown June
If you hover over the > at the end of that row, you'll see the borrower's name confirmed in the url.
Thanks for pointing that out, however I have had 3 requests via Q&A & 2 direct to customer services either fobbed off, deleted or completely ignored - not the level of service that I feel is acceptable. I no longer bother with the upcoming loans list as there is never anything that I can see offers better value than I can get elsewhere.
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Post by chris on Jun 9, 2016 19:15:11 GMT
I have had 3 requests via Q&A & 2 direct to customer services either fobbed off, deleted or completely ignored - not the level of service that I feel is acceptable. If you PM me the questions that you've had deleted, or post them here, then I'll investigate if that was the correct approach or not. I no longer bother with the upcoming loans list as there is never anything that I can see offers better value than I can get elsewhere. In your assessment of the risk, or where you're getting a temporary boost to rates due to lower liquidity in relation to origination. Not everyone will make the same assessment.
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SteveT
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Post by SteveT on Jun 9, 2016 19:29:02 GMT
Presumably the platform's margin also has a part to play. I was thinking today about a recent loan on another platform which feels very much like a typical AC loan. Established, successful London restaurant business, low LTV secured on the premises (33% on a bricks & mortar basis), 5 year amortising, £950k. What's different though is that it's paying 10% to lenders, as it probably would have on AC a year ago. I very much doubt that would be the case if it were on AC now, where I suspect (comparing to the other upcoming AC loans) it would be 8%, possibly 9% at a stretch.
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Post by chris on Jun 9, 2016 19:48:49 GMT
Presumably the platform's margin also has a part to play. I was thinking today about a recent loan on another platform which feels very much like a typical AC loan. Established, successful London restaurant business, low LTV secured on the premises (33% on a bricks & mortar basis), 5 year amortising, £950k. What's different though is that it's paying 10% to lenders, as it probably would have on AC a year ago. I very much doubt that would be the case if it were on AC now, where I suspect (comparing to the other upcoming AC loans) it would be 8%, possibly 9% at a stretch. Perhaps that platform has to pay lenders more to attract the funds whereas in the current climate we can price more strictly to risk, with little to no price premium over that for liquidity reasons. Our margins are broadly the same, sometimes a touch higher sometimes lower. Our operation is also geared around generating a large volume of these types of deals, not just one or two. To attract the volume we make sure we're competitive and not over pricing where we don't need to.
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ton27
Member of DD Central
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Post by ton27 on Jun 9, 2016 20:05:59 GMT
steve - can you advise which platform?
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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
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Post by ilmoro on Jun 9, 2016 21:00:06 GMT
steve - can you advise which platform? Moneything By the way youve tagged the wrong Steve 
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stevio
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Post by stevio on Jun 9, 2016 21:24:38 GMT
Apparently referral programme is in the pipeline.I'm sure chris can tell you more. It's been approved but not yet had coding time, plus given the surplus of lender funds we're not likely to do anything in June until the backlog has cleared. There's a big push from the exec to get loans drawn in June and July to completely clear the build up of funds, or with the GEIA as best we can within that timeframe. So perhaps late July / early August I'll be pressured into delivering the referral scheme with an August go live date. But no promises just yet as there are a lot of priorities vying for attention. Children please, there are plenty of 'argue with AC' threads May I remind you of the first sentence in this thread *I would prefer a Lenders perspective in this thread and would appreciate if AC didn't feel they have to answer/debate/justify their platform based on Lenders comments if that's ok, it's purely someone's perspective of the platform, rightly or wrongly I even starred it! Chris I appreciate you didn't interject till tagged...
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Post by chris on Jun 9, 2016 21:28:30 GMT
It's been approved but not yet had coding time, plus given the surplus of lender funds we're not likely to do anything in June until the backlog has cleared. There's a big push from the exec to get loans drawn in June and July to completely clear the build up of funds, or with the GEIA as best we can within that timeframe. So perhaps late July / early August I'll be pressured into delivering the referral scheme with an August go live date. But no promises just yet as there are a lot of priorities vying for attention. Children please, there are plenty of 'argue with AC' threads May I remind you of the first sentence in this thread *I would prefer a Lenders perspective in this thread and would appreciate if AC didn't feel they have to answer/debate/justify their platform based on Lenders comments if that's ok, it's purely someone's perspective of the platform, rightly or wrongly I even starred it! Chris I appreciate you didn't interject till tagged... To be honest I'd lost track of what thread this was as the email notifying me of the tag just took me straight to the post in question. I'll leave the thread alone now.
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trouble
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Post by trouble on Jun 11, 2016 0:37:28 GMT
6 figure sum in loans, investment via Seeders, early adopter, average return c11%. the return will fall as P2P is now far more established as a sector, bank rates to borrowers falling, challenger bank rates falling, money is cheap and expected to stay cheap. want 12% then take risks elsewhere, i like the AC credit reports, don't like the removal of ''assessor names'' that has taken place recently - bit of hiding  historic issues feature on some bridging loans, same introducer who is no longer accepted by AC be wary of non 'real asset' secured loans, as when they go 'tits up', then what is left in reality. on balance, then i'm more than happy with AC, a very high % of loans have worked, the odd one hasn't so don't have eggs in one basket. on this site there are a number of noisey trolls who just seem to want to demean AC, maybe they over invested in the wrong loans, not prepared to take personal blame? key is diversification, take good asset backed loans, accept that returns will move over time and need to include losses (now tax deductible), don't expect to fully invest overnight, it may take time to diversify 'safely' over a number of loans - don't rush |
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nd
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Post by nd on Jun 11, 2016 10:06:32 GMT
I've been a lender on AC for a couple of months but not in massive figures. I've found it easy to use and have been lucky to get chunks of money into the QAA and have only a small amount queued for the GBBA. The QAA is a big bonus when it has capacity.
I've also put some in the manual investments and have worked on the basis of lots of small investments which I'm prepared to drip feed in. Therefore if a handful went wrong it wouldn't be the end of the world.
My one dealing with AC customer service was a good experience.
I'd recommend AC.
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markr
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Post by markr on Jun 11, 2016 21:16:51 GMT
I like the current AC a lot (I was less impressed in the early days but they have been very innovative, and mostly all changes have been good ones in my view). The QAA sweep function is brilliant and unique among the platforms I'm in (do any others have a similar thing?)
Some disappointing defaults, yes, but there are the provision fund protected accounts if you don't want the "pain" of defaults, and there's also been recoveries. I'm not a huge fan of the lender votes, I'd prefer AC (who one assumes are the experts) to do what they think is in the lenders' best interests.
Rates are generally lower than they were, but rates across P2P are falling and I don't think the 12% platforms will be able to stay there long. In the business and property sector, I guess the smaller platforms have to follow FC's lead.
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happy
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Post by happy on Jun 12, 2016 7:11:05 GMT
I like the current AC a lot (I was less impressed in the early days but they have been very innovative, and mostly all changes have been good ones in my view). The QAA sweep function is brilliant and unique among the platforms I'm in (do any others have a similar thing?) Some disappointing defaults, yes, but there are the provision fund protected accounts if you don't want the "pain" of defaults, and there's also been recoveries. I'm not a huge fan of the lender votes, I'd prefer AC (who one assumes are the experts) to do what they think is in the lenders' best interests. Rates are generally lower than they were, but rates across P2P are falling and I don't think the 12% platforms will be able to stay there long. In the business and property sector, I guess the smaller platforms have to follow FC's lead. Agree with everything markr said, AC in my top 2 platforms by investment size and the one I feel most comfortable with for larger SME investments. I have 5 figure sums in MLIA, GBBA and 30DAY (pending ISA opening) and 4 figures in GEIA. Ultra easy to use once you understand how buying instructions work. I believe the information provided to investors and the management team are among the best in the business, they are active on this forum and regularly recieve praise (and the odd bit of criticism!) from forum members. I have always had a medium risk approach to all my investing so tend to use a lot of Collectives on the Stock Market and diversify widely and personally having moved away from FC for unsecured SME, never felt totally comfortable with higher risk 12% one-fits-all bullet loans on SS and not wanting to invest in exotics (a.k.a. things I don't understand like planes and works of art) AC is the platform that fits my risk profile best and that I have most confidence in, both now and in it's apparent direction and potential future. Only down sides for me are recent problems in loan supply resulting in more money coming back than I have invested recently (should be fixed moving forward) and rates having dropped somewhat but I see this as a possitive management move reflecting the way the market has moved and should provide a more stable future. Love the innovation on the site, nothing like it anywhere else, I even don't mind investing in loans to 40 decimal places  Happy investing!
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Happy investing!