oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Apr 4, 2017 11:08:39 GMT
There were far fewer 7%-8% loans floating around last year.
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Apr 4, 2017 11:21:29 GMT
... and no Flexible ISAs requiring replenishing.
|
|
tonyr
Member of DD Central
Posts: 477
Likes: 258
|
Post by tonyr on Apr 4, 2017 20:39:16 GMT
I've been selling 8% and buying at 10% since Saturday and I love it. My headline interest has gone from 10.88% to 11.10% and is still going up. What's not to like? Fair enough, but has it been easy to sell the 8% loans ? I have two accounts. One is the sort of amounts that you've have if you'd maxed out an ISA every year, all of these went at 8%, but that's because I only had about £800 in every sensible 8% loan. The other is the sort of amount if you'd maxed out a pension, here I had about £2k in many 8% loans and about 10 haven't moved much. I don't see the need to get into 8% loans again anytime soon so hopefully they will all go in few months. Does anyone know if it was like this 12 months ago at the end of the 2015-16 financial year ? Someone else said it happened, but I was here and don't remember anything like this.
|
|
|
Post by oldnick on Apr 4, 2017 20:43:40 GMT
No, nothing like this I'm sure.
|
|
|
Post by crabbyoldgit on Apr 5, 2017 5:37:31 GMT
I to have been selling all sub 9% loads and am now free of them, what I need now is the loans close to repayment ,scheduled or in default, to repay while good places for the money to go are available. Nothing wrong with the sub 9% loans as such, but I like the better liquidity of the higher rate offerings.
|
|
tonyr
Member of DD Central
Posts: 477
Likes: 258
|
Post by tonyr on Apr 5, 2017 7:23:09 GMT
I to have been selling all sub 9% loads and am now free of them, what I need now is the loans close to repayment ,scheduled or in default, to repay while good places for the money to go are available. Nothing wrong with the sub 9% loans as such, but I like the better liquidity of the higher rate offerings. Why not dump the loans scheduled to repay and buy loans that have a decent time to run? That's what I am doing, I don't expect this situation to last long and one of the ways I'm profiting from it is to engineer a decent interest rate for the rest of this year.
|
|
tonyr
Member of DD Central
Posts: 477
Likes: 258
|
Post by tonyr on Apr 5, 2017 7:33:15 GMT
Here's a thought. One of the risks in the QAA is that, having dumped the conventional underwriters, it is the primary underwriter. So AC has a balancing trick, keep the interest rates low so as to maximise deal flow and AC margins, but not so low as the QAA underwriter loses out. Maybe a smallish outflow of QAA cash due to the change of tax year had an amplifying effect, the QAA was already committed to a large number of 7%-8% loans that nobody wanted, so it had to sell across the board, which led to another amplifying effect in that as there was lots of good 10+% loans available everyone dumped 9% and below which led to lots and lots on the market. Then other things could have happened, we get to a fear and greed situation, some people could have sold because they needed the liquidity, amplifying again. Finally, I for one are using this as an excellent opportunity to balance, selling lots of 12% and 11.5% loans and buying at 10%, so amplifying again, now people can sell at 10% and buy at 12% and that fuels more on the market. All conjecture of course.
I for one are enjoying playing the game right now.
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
|
Post by sqh on Apr 5, 2017 11:46:15 GMT
Now would be a good time to refresh all GBBA accounts. Flush out all those juicy MLIA grade loans of 10%+ that were absorbed by early GBBA investors. How about that chris ?. After all, AC pride themselves in pricing to risk, so why have high rate, riskier loans sitting in GBBA accounts.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Apr 5, 2017 12:13:39 GMT
After all, AC pride themselves in pricing to risk, so why have high rate, riskier loans sitting in GBBA accounts. To help build up the PFs. To produce some profit for AC's bottom line. Or have I missed detecting a bit of sarcasm?
|
|
|
Post by msa on Apr 10, 2017 12:28:58 GMT
It does not look QAA or 30DAA related. Given the sudden appearance of large volumes in quite a significant number of loans all at the same time it must be some HNWI moving away or one of the institutional investors trying to liquidate. Maybe Brexit related given Article 50 has now been formally triggered.
|
|
skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
|
Post by skippyonspeed on Apr 10, 2017 17:18:35 GMT
I don't understand people who lend in MLIA on loans offering 7.5%, when they could get the same rate from the other accounts with less risk provided by PF. The lowest int rate in my acc is 10% and that is only because as accrued int. is paid, I get a lot better return than if I leave it in QAA. I then drip feed cash from 10% loans as higher rate loans soak up small chunks of cash.
|
|
|
Post by chielamangus on Apr 11, 2017 11:47:01 GMT
I don't understand people who lend in MLIA on loans offering 7.5%, when they could get the same rate from the other accounts with less risk provided by PF. The lowest int rate in my acc is 10% and that is only because as accrued int. is paid, I get a lot better return than if I leave it in QAA. I then drip feed cash from 10% loans as higher rate loans soak up small chunks of cash. You mean less than 7.5%? Either way you would understand if you had a load of dosh to be invested across different platforms and it was not possible to get it all into the 10+% loans. The 7-8 per centers have been useful parking spots while looking for better returns.
|
|
|
Post by Ton ⓉⓞⓃ on Apr 17, 2017 22:41:51 GMT
A note for next April, 17th April Easter Bank Holiday Monday: 95 different loans on the SM, a few days ago it was well over a hundred loans, prior to the end of tax there was I believe 10-25 loans were regularly available. Of the 95: 44 are at 8.x% almost all the rest are at lower rates.
|
|
|
Post by jackpease on Apr 18, 2017 5:59:03 GMT
A note for next April, 17th April Easter Bank Holiday Monday: 95 different loans on the SM, a few days ago it was well over a hundred loans, prior to the end of tax there was I believe 10-25 loans were regularly available. Of the 95: 44 are at 8.x% almost all the rest are at lower rates. Are you saying this is part of a pattern? Lendy/SS has had loads on its SS for a month too - is this the result of mass withdrawals of cash before the tax year ends/pensions/ISAs etc and their funds are depleted? This'd tie in with Assetz needing to pull people in with a 0.5% premium. Is the learning point that if you safely want to liquidate funds before year end, then you need to start at least a month early, if you want to dump large amounts into p2p, then do it mid April? Jack P
|
|
|
Post by chris on Apr 18, 2017 6:35:59 GMT
This'd tie in with Assetz needing to pull people in with a 0.5% premium. There has been a net deposit of cash onto AC every week for the past 20 weeks (at least, that's as far back as I looked). So there's no mass withdrawal of cash to cover just growth plans.
|
|