andy2001
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Post by andy2001 on Apr 29, 2014 23:19:27 GMT
If a shadow bid is made in April and settled next month how is it decided if it's settled with new money? Is it based on net investment that month or does it have to be new money for that pacific bid.
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mikes1531
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Post by mikes1531 on Apr 30, 2014 2:32:27 GMT
If a shadow bid is made in April and settled next month how is it decided if it's settled with new money? Is it based on net investment that month or does it have to be new money for that pacific bid. I haven't tried going back and re-reading the various relevant posts, but AIUI which money is used to settle the shadow bids is irrelevant. If a bid is made is made in April and the loan proceeds to drawdown, then the bid is supposed to count towards the cashback offer.
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mikes1531
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Post by mikes1531 on Apr 30, 2014 2:49:46 GMT
I have three more loans planned for listing. These three will be qualifying loans. Thanks for letting us know this. When you say they will qualify for cashback, do you mean they'd qualify even if they don't go live by 30/Apr -- would pre-bids count if they at least made it to the 'preview' stage? -- or simply that you're confident they will go live by 30/Apr? Any bids made will be compliant even if the loan isn't live by 30th. How fair is that? Very! What more could we ask for? I now have thought of something else to ask andrewholgate for -- an update! Are the other two loans (the Red**** auction ending later today being the third) still in the running? Or have they fallen by the wayside? If they are still surviving, when might they go live? Inasmuch as today is the last day of the cashback offer, it would be helpful to know if we need to hold some funds available for these last two qualifying offers or whether to tie up all of our available funds in the remaining loans the underwriters are exiting. I'd much rather diversify than further overweight my portfolio with more of Ep**** and Fu******* and Ip*****, but I don't want to miss out on the cashback offer either, so it would be very useful to know what's happening.
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andy2001
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Post by andy2001 on Apr 30, 2014 2:51:45 GMT
If a shadow bid is made in April and settled next month how is it decided if it's settled with new money? Is it based on net investment that month or does it have to be new money for that pacific bid. I haven't tried going back and re-reading the various relevant posts, but AIUI which money is used to settle the shadow bids is irrelevant. If a bid is made is made in April and the loan proceeds to drawdown, then the bid is supposed to count towards the cashback offer. But I don't think it counts if there is no increase in money invested, with the exception of bids made a the very start of the month before the offer was changed.
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mikes1531
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Post by mikes1531 on Apr 30, 2014 3:17:35 GMT
I haven't tried going back and re-reading the various relevant posts, but AIUI which money is used to settle the shadow bids is irrelevant. If a bid is made is made in April and the loan proceeds to drawdown, then the bid is supposed to count towards the cashback offer. But I don't think it counts if there is no increase in money invested, with the exception of bids made a the very start of the month before the offer was changed. AIUI, if a lender's net investment in April was negative -- ignoring the complication of the 1/Apr exception -- and still is negative after the inclusion of April shadow bids that settle after April, then no cashback would be earned. If the inclusion of those shadow bids would be enough to make the net investment positive, then that should mean some cashback becomes payable. I suppose the awkward question is... What if the lender sells some loan parts in May to provide the funds to settle the April shadow bids? Should they still receive cashback on those shadow bids? Based on what's been said so far, I think the answer is that they will. I guess it's one of the unexpected perks of shadow bidding privileges. Then again, that benefit counterbalances the drawback of shadow bids that have been settled in April, such as Up*** and Wes*** S**** M*** Dev., but which do not count towards the cashback offer despite the money being invested in April because the shadow bids were made before April. Swings and roundabouts, I guess.
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oldgrumpy
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Post by oldgrumpy on Apr 30, 2014 8:03:58 GMT
I made preparations to invest enough to slip into the 0.75% bracket, (after putting unqualifying cash in at the end of April!!) but lost interest with the lack fresh auctions to diversify into through most of the month. I was hoping (and expecting) five or six new opportunities during the month. I didn't want to pile more into the three large loans* on the AM just to squeeze the extra 0.25% out of Andrew & Co. Some of the set-aside cash has now been invested elsewhere. I am still struggling to redistribute maturing bonds which now offer me great rates to take out new ones ...like 1.8% (the usual "you lose value/we make profit" scenario)!! Cheltenham and G have just informed me that another comes up in late May and they no longer issue new savings products.
Maybe if there is another cashback offer for existing investors, it can be made when there is a better spread of new lending opportunities going live in the same period.
..... or extend this one by a couple of weeks (or more) to let in at least those other two loans that Andrew mentioned earlier this week.
* maybe that was AC's main purpose for this offer; to shift some of the underwriter's stakes.
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Post by yorkshireman on Apr 30, 2014 8:19:23 GMT
* maybe that was AC's main purpose for this offer; to shift some of the underwriter's stakes.  
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Post by rudry2677 on Apr 30, 2014 9:05:56 GMT
It's tempting... A dash of Gr****n 2000 over the lot and no one will ever know. OK, send it. My avatar will present the results! I use the 4000 version :-)
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mikes1531
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Post by mikes1531 on Apr 30, 2014 15:37:48 GMT
..... or extend this one by a couple of weeks (or more) to let in at least those other two loans that Andrew mentioned earlier this week. There's a new loan that was listed today. I presume that's one of the other two loans. So it made the 30/Apr deadline. And andrewholgate has said that when the third one arrives -- whenever that is -- it will qualify. But not having had any reaction from AC to my question of earlier today, I suppose it could be stillborn.
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Post by andrewholgate on Apr 30, 2014 16:34:24 GMT
Thanks for letting us know this. When you say they will qualify for cashback, do you mean they'd qualify even if they don't go live by 30/Apr -- would pre-bids count if they at least made it to the 'preview' stage? -- or simply that you're confident they will go live by 30/Apr? Any bids made will be compliant even if the loan isn't live by 30th. How fair is that? Very! What more could we ask for? I now have thought of something else to ask andrewholgate for -- an update! Are the other two loans (the Red**** auction ending later today being the third) still in the running? Or have they fallen by the wayside? If they are still surviving, when might they go live? Inasmuch as today is the last day of the cashback offer, it would be helpful to know if we need to hold some funds available for these last two qualifying offers or whether to tie up all of our available funds in the remaining loans the underwriters are exiting. I'd much rather diversify than further overweight my portfolio with more of Ep**** and Fu******* and Ip*****, but I don't want to miss out on the cashback offer either, so it would be very useful to know what's happening. I'm hoping to list another tonight. I'm just toying with extending the cashback but just for these two loans that listed lat today.
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oldgrumpy
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Post by oldgrumpy on Apr 30, 2014 16:51:56 GMT
I'm hoping to list another tonight. I'm just toying with extending the cashback but just for these two loans that listed late today.
That'll be appreciated here at Grumpton Grange. It'll soften the pain stemming from the cash put in right at the end of March just before the cashback "reward" was announced. 
Can't say thank you yet. You haven't confirmed it. 
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Post by Ton ⓉⓞⓃ on Apr 30, 2014 17:08:34 GMT
I now have thought of something else to ask andrewholgate for -- an update! Are the other two loans (the Red**** auction ending later today being the third) still in the running? Or have they fallen by the wayside? If they are still surviving, when might they go live? Inasmuch as today is the last day of the cashback offer, it would be helpful to know if we need to hold some funds available for these last two qualifying offers or whether to tie up all of our available funds in the remaining loans the underwriters are exiting. I'd much rather diversify than further overweight my portfolio with more of Ep**** and Fu******* and Ip*****, but I don't want to miss out on the cashback offer either, so it would be very useful to know what's happening. I'm hoping to list another tonight. I'm just toying with extending the cashback but just for these two loans that listed lat today. I promise we won't shy from it; as if it had TB. Or run from it; as if it had leprosy...
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mikes1531
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Post by mikes1531 on May 1, 2014 3:45:36 GMT
I'm hoping to list another tonight. I'm just toying with extending the cashback but just for these two loans that listed lat today. I saw only one loan listed late on Wednesday. Did I blink and miss the second one? As for "I'm just toying with extending...", it's too late for toying. You already made that decision last week... Any bids made will be compliant even if the loan isn't live by 30th. How fair is that? On the strength of your posting, I held some money back for these two loans that I could have put into Ep**** or Ip***** and earned cashback on, but I'd rather my portfolio be more diversified. I can't say whether or not others have done the same, but I wouldn't be surprised if some did. Of course, if you'd rather take the simplest approach and pay the cashback on the amount I was going to invest... 
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Post by valerieb on May 1, 2014 9:08:24 GMT
As for "I'm just toying with extending...", it's too late for toying. You already made that decision last week... Any bids made will be compliant even if the loan isn't live by 30th. How fair is that? On the strength of your posting, I held some money back for these two loans that I could have put into Ep**** or Ip***** and earned cashback on, but I'd rather my portfolio be more diversified. I can't say whether or not others have done the same, but I wouldn't be surprised if some did. Yep, I did the same and I'd be pretty cross if I missed out on my extra 50p!
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oldgrumpy
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Post by oldgrumpy on May 1, 2014 11:04:03 GMT
I'm hoping to list another tonight. I'm just toying with extending the cashback but just for these two loans that listed lat today. I saw only one loan listed late on Wednesday. Did I blink and miss the second one? As for "I'm just toying with extending...", it's too late for toying. You already made that decision last week... Any bids made will be compliant even if the loan isn't live by 30th. How fair is that? On the strength of your posting, I held some money back for these two loans that I could have put into Ep**** or Ip***** and earned cashback on, but I'd rather my portfolio be more diversified. I can't say whether or not others have done the same, but I wouldn't be surprised if some did. Of course, if you'd rather take the simplest approach and pay the cashback on the amount I was going to invest... Oh dear! The first of those two loans was suddenly closed just before midnight (to help ensure the assets weren't flogged off) so extra cashback bids can't go on that.  Good job I got my first few hundred in. As for the second - is it that 8.5% windy thing? Oh! the suspense ...... 
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Good job I got my first few hundred in. 