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Post by max47 on Apr 6, 2014 12:57:38 GMT
I already invest in several other p2p platforms (Zopa/RS/FC/TC)and because of the lack of opportunities in TC at the moment I am thinking of dipping my toes in to AC.Looking at the site several questions arise which I would be grateful if more experienced members could help me with.
1. Do the Underwriters always take up any unfilled balance on a loan request?
2. Who are these underwriters and do the have more info on the loan than me?
3. Do the underwriters always put their loans on the AM?
4. If the answer to 3. is yes; why should I bid prior to an auction finishing when I can pick up what I want on the AM (albeit in smaller amounts) & not have to wait for drawdown.
Thanks in anticipation
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Post by jevans4949 on Apr 6, 2014 13:17:26 GMT
- In most cases underwriters are found; the ones that have been allowed to fail have generally been those with worrying issues surrounding them which emerged during the bidding process.
- Mostly High Net Worth Individuals who have cash to spare. If you have a six-figure sum lying around you can join them; it only takes a phone call to Assetz Towers.
- The underwriters want to diversify like any other investor. They are giving opportunities to new investors, and of course it allows them to free up money for the next underwriting opportunity.
- At present, for any loan over £500k, underwriting is likely to be required. In these cases, waiting for the aftermarket. is a strategy some are following. Another option you could consider is shadow bidding, where you don't have to pay your money in until the drawdown is imminent.
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Post by Ton ⓉⓞⓃ on Apr 6, 2014 15:04:24 GMT
I already invest in several other p2p platforms (Zopa/RS/FC/TC)and because of the lack of opportunities in TC at the moment I am thinking of dipping my toes in to AC.Looking at the site several questions arise which I would be grateful if more experienced members could help me with.
1. Do the Underwriters always take up any unfilled balance on a loan request?
2. Who are these underwriters and do the have more info on the loan than me?
3. Do the underwriters always put their loans on the AM?
4. If the answer to 3. is yes; why should I bid prior to an auction finishing when I can pick up what I want on the AM (albeit in smaller amounts) & not have to wait for drawdown.
Thanks in anticipation 1. Completely agree with jevans4949, I can only think of one loan that didn't fly in the last month or more 2. I think these guy/girls are their contacts; as AC has several different divisions or parts to it that aren't all on the web. If you contact them I think you might be able to become one as long as you can chuck a load of money into single plus loans. There are case where the U/wer have more info, such as the Kent loan at the moment, read it through (On thinking about it I can't remember if it was that loan or another... AC get the U/Wer to sign a non-disclosure agreement and it's not realistic to get all the other Lenders to sign it to.) 3. Mainly they do, but Auction 70 and 66 still have significant u/w in them. Personally I've never seen these sold, tho' I might be wrong in degree of selling. 4. Much has been said about that, small loans, those around and under 250k, will probably fly without u/wers. I'm guessing AC maybe changing it's model of Lending soon... IMHO
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 6, 2014 15:10:52 GMT
3. Mainly they do, but Auction 70 and 66 still have significant u/w in them. Personally I've never seen these sold, tho' I might be wrong in degree of selling.
These two haven't been drawn down yet.
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andy2001
Member of DD Central
Posts: 361
Likes: 34
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Post by andy2001 on Apr 6, 2014 15:23:20 GMT
I already invest in several other p2p platforms (Zopa/RS/FC/TC)and because of the lack of opportunities in TC at the moment I am thinking of dipping my toes in to AC.Looking at the site several questions arise which I would be grateful if more experienced members could help me with.
1. Do the Underwriters always take up any unfilled balance on a loan request?
2. Who are these underwriters and do the have more info on the loan than me?
3. Do the underwriters always put their loans on the AM?
4. If the answer to 3. is yes; why should I bid prior to an auction finishing when I can pick up what I want on the AM (albeit in smaller amounts) & not have to wait for drawdown.
Thanks in anticipation 3. Mainly they do, but Auction 70 and 66 still have significant u/w in them. Personally I've never seen these sold, tho' I might be wrong in degree of selling. Not surprising you have yet to see them on the aftermarket considering they have yet to drawdown. Auction 53 has drawn down, and still has some underwriting that the underwriter is in no hurry to sell, but some has come up on the aftermarket last month.
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Post by Ton ⓉⓞⓃ on Apr 6, 2014 17:14:43 GMT
Yes, thanks for correcting me, oldgrumpy pointed it out too. I've not invested in either so I'm completely out of the loop,thanks for the info. |
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Post by max47 on Apr 6, 2014 20:43:46 GMT
- In most cases underwriters are found; the ones that have been allowed to fail have generally been those with worrying issues surrounding them which emerged during the bidding process.
- Mostly High Net Worth Individuals who have cash to spare. If you have a six-figure sum lying around you can join them; it only takes a phone call to Assetz Towers.
- The underwriters want to diversify like any other investor. They are giving opportunities to new investors, and of course it allows them to free up money for the next underwriting opportunity.
- At present, for any loan over £500k, underwriting is likely to be required. In these cases, waiting for the aftermarket. is a strategy some are following. Another option you could consider is shadow bidding, where you don't have to pay your money in until the drawdown is imminent.
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Post by max47 on Apr 6, 2014 20:46:42 GMT
Thanks to all for help.
Pse explain "shadow bidding". Presumably AC want some guarantee.
Are some loans allowed to fall?/fail.
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Post by max47 on Apr 6, 2014 20:51:17 GMT
- In most cases underwriters are found; the ones that have been allowed to fail have generally been those with worrying issues surrounding them which emerged during the bidding process.
- Mostly High Net Worth Individuals who have cash to spare. If you have a six-figure sum lying around you can join them; it only takes a phone call to Assetz Towers.
- The underwriters want to diversify like any other investor. They are giving opportunities to new investors, and of course it allows them to free up money for the next underwriting opportunity.
- At present, for any loan over £500k, underwriting is likely to be required. In these cases, waiting for the aftermarket. is a strategy some are following. Another option you could consider is shadow bidding, where you don't have to pay your money in until the drawdown is imminent.
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Post by max47 on Apr 6, 2014 20:53:27 GMT
Sorry, another question (you're going to get sick of me)
Does AC have its own in house forum or is this the only one?
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walktall7
Member of DD Central
Posts: 184
Likes: 35
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Post by walktall7 on Apr 6, 2014 21:00:59 GMT
This is the only one
Some loans do not happen
Trying to help each other is important so do not worry about asking questions.
I need to know more about shadow bidding
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andy2001
Member of DD Central
Posts: 361
Likes: 34
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Post by andy2001 on Apr 6, 2014 21:25:22 GMT
If you have 10k+ invested with Assetz Capital you can email them and ask them to set up a shadow bid account. Then you can bid on current auctions with out putting the funds in at the time of the bid. They will email you when it's close to draw down to get you to settle the shadow bid. You can get a limit up to 25% of you invested funds.
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Post by jevans4949 on Apr 6, 2014 21:29:35 GMT
Sorry, another question (you're going to get sick of me) Does AC have its own in house forum or is this the only one? Assetz actually "owns" p2pindependentforum.com, but are generally hands-off, and leave it all to the moderators - who are generally customers of several platforms. Before this forum was set up, many people put comments in the "chat" board on talk.zopa.com, where you will find topics for a number of platforms; Zopa is still generally content for people to do so.
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walktall7
Member of DD Central
Posts: 184
Likes: 35
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Post by walktall7 on Apr 6, 2014 21:29:51 GMT
Thanks andy2001
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Post by bracknellboy on Apr 7, 2014 7:24:26 GMT
Sorry, another question (you're going to get sick of me) Does AC have its own in house forum or is this the only one? Assetz actually "owns" p2pindependentforum.com, but are generally hands-off, and leave it all to the moderators - who are generally customers of several platforms. Before this forum was set up, many people put comments in the "chat" board on talk.zopa.com, where you will find topics for a number of platforms; Zopa is still generally content for people to do so. Hi Jevans, Assetz did the original funding for setting up the board (i.e. buying the domain etc). This was an emergency 'step in' when the old indie board came to a sudden demise when it was bought out by FC and instantly shut down. The setup by AC was at the request of a number of members of the old forum. However AC rapidly handed over any control once an admin team was established: AC no longer has any admin rights on this board, and therefore have no choice but to be 'hands off' - they have no mechansim to be 'hands on'. Ownership of the URL has also passed out of AC (though I am not sure to where). This is reflected in changes that were made to ownership statements and liability statements and forum rules (i.e. any mention of "AC not being liable...." etc were all removed once ownership was passed on).
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