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Post by khampson on Dec 29, 2016 10:06:15 GMT
Had £500 in both the GBBA and the GEIA account for a month and not had a penny lent out, really frustrating so why is this? Is it lack of loans or is it another other underlying reason? The only bonus is that is lent out in the cash account but how can I lend it here but not in the other accounts? Also when you look on the manual investment loans available there are 12 loans with units available, are these exempt from the AC account?
Thanks
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Post by d_saver on Dec 29, 2016 10:22:31 GMT
You are not alone. It's a _slow_ process from my limited experience. It does happen, but at a rate that can be annoyingly slow and sometimes just pennies at a time. (at least for me). Things might pick up in Jan I guess. I've had money there for a few months. Most just sitting in the QAA. At least it's earning a reasonable rate (vs my bank). I think treat it like that. The plus side of this demand in that you (at the moment anyway) should have no issue getting your money out should you want it as there is a big queue of investors waiting to buy your investment. I don't think all loans on their books qualify for the GBBA.
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Post by khampson on Dec 29, 2016 10:36:42 GMT
I am considering have a dabble with the manual account but unsure as I can't tell a good loan from a bad one until I seen "trading suspended"
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Post by oldnick on Dec 29, 2016 12:30:15 GMT
I am considering have a dabble with the manual account but unsure as I can't tell a good loan from a bad one until I seen "trading suspended" Dabbling is the best approach but it is nigh on impossible to succeed 100% of the time in avoiding loans that get into difficulties. Most borrowers start out with honest intentions but life can be unpredictable at times. As others have frequently said, it's not about avoiding all losses but spreading your money widely enough that you still get a reasonable return. There are different approaches to reducing risk in p2p, some of which require knowledge I don't have, and others that are more common sense - such as avoiding high LTV loans and personal guarantees. In time you may developed your own set of investment criteria which provides a risk/return level that allows you to sleep at night, but risk will always be present where you rely upon unknown ndividuals to honour debt agreements.
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SteveT
Member of DD Central
Posts: 6,875 
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Post by SteveT on Dec 29, 2016 14:31:38 GMT
I am considering have a dabble with the manual account but unsure as I can't tell a good loan from a bad one until I seen "trading suspended" If you set up a standard £10 target in 100 MLIA loans (or £20 in 50) then you shouldn't go too far wrong. The extra % interest you earn via the MLIA (vs earning just 7% in the GBBA) is likely to more than compensate for the lack of a provision fund, IMO
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Dec 29, 2016 15:18:05 GMT
According to AltFi Assetz have issued over 12 million pounds of loans so far this month.
How can that be when we see so few lending opportunities? The whole thing seems pointless but it must be what they want to do.
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Post by oldnick on Dec 29, 2016 16:38:16 GMT
According to AltFi Assetz have issued over 12 million pounds of loans so far this month. How can that be when we see so few lending opportunities? The whole thing seems pointless but it must be what they want to do. I'm riding two horses here - hoping my shares in AC will materialize one day - and looking for loan parts that earn a reasonable return at the same time. Fortunately there are other platforms...
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Post by Butch Cassidy on Dec 29, 2016 17:00:38 GMT
According to AltFi Assetz have issued over 12 million pounds of loans so far this month. How can that be when we see so few lending opportunities? The whole thing seems pointless but it must be what they want to do. I'm riding two horses here - hoping my shares in AC will materialize one day - and looking for loan parts that earn a reasonable return at the same time. Fortunately there are other platforms... I'm in a similar position, however the vast majority of my hopes are on the first of those horses as the second appears to have been pulled up lame (story of my life!)
Looking at the SM list it appears £8-9m was issued onto the retail platform over the last month, I assume the rest may have gone to institutions (not visible on the platform) I only had targets against a couple of them & got small amounts - I guess that the QAA/30day accounts are taking very large %'s in an attempt to build up buffer interest & PF provision.
My advise to new investors would be similar to that of SteveT just go through the whole SM list & set targets against anything that you like the look of, although time consuming, it will result in small shrapnalator purchases with no further effort on your part & the uplift in interest rates, especially on older loans, (against the 7% accounts) will more than cover the extra risk involved.
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