beh
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Post by beh on Apr 12, 2017 20:29:54 GMT
Hmm, hadn't occurred to me either but the T&Cs suggest that after downgrading for a year you could apply again and get 5%.
"If you have previously held a FlexDirect account in the last 12 months, you will not be entitled to the introductory rate or offer under a new agreement and therefore you will receive the standard 1% gross p.a/ AER (variable) interest rate."
Skimming a few threads on MSE forums seems to confirm this.
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Post by GSV3MIaC on Apr 13, 2017 6:46:53 GMT
Assetz QAA for when it comes to "instant" liquidity. wiseAlpha for floating rate loans when the objective is to have a savings product where the return reflects changes in base / market interest rates. They just added a Libor + 6.00% MyDentist (IDH) offer. See wiseAlpha thread. /Mod hat off But is libor +6% on what rating agencies would call a subprime, or junk, bond, any better than 12% or 14% on an asset backed loan at MT, LfSs, or Ablrate?? Neither bears any resemblance to 'savings' in my universe. (Do you have shared in wisealpha? 8>.)
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sg
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Post by sg on Apr 13, 2017 9:14:36 GMT
Don't kid yourselves, folks. The question might as well be which apple looks most like an orange.
If a risk level of 1 is Gilts, 2 is Savings and 10 is the longest odds outsider in the Grand National, what we have all done is bet on several of the favourites at good odds, the race has just started and we're waiting to see who falls at the next fence.
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Post by nesako on Apr 13, 2017 10:49:30 GMT
The question might as well be which apple looks most like an orange. And the answer would be, this one:  But you are right, Apples are only "wannabe" Oranges 
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littleoldlady
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Post by littleoldlady on Apr 13, 2017 13:49:13 GMT
I am intrigued at the popularity of QAA (as far as answering this poll goes). Do investors in QAA understand what will happen when there is a loss incurred on a loan in QAA?
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jonah
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Post by jonah on Apr 13, 2017 16:04:27 GMT
Better to downgrade the current account to a FlexAccount, so you can potentially have another bite of the cherry in 12 months. Does that work? From reading on MSE, I believe so. Personally I've switched away my FD account after 12 months for a switching bonus, then opened another one 12 months later which does work. I've kept a FA account open and separate for both the free insurance but also the regular saver.
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jonah
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Post by jonah on Apr 13, 2017 16:41:24 GMT
I am intrigued at the popularity of QAA (as far as answering this poll goes). Do investors in QAA understand what will happen when there is a loss incurred on a loan in QAA? They might think they do, but as I'm 99% sure AC haven't publicly stated what will happen with the QAA PF I'm pretty sure no one out of AC really knows the answer. Obviously I hope it never becomes relevant, but then I only use the QAA for swept cash between investments on AC, not directly invested.
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mason
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Post by mason on Apr 13, 2017 17:42:51 GMT
Yes, it does and has done for years, but of course T&Cs and interest rates are subject to change during those 12 months.
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mason
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Post by mason on Apr 13, 2017 17:43:50 GMT
Do investors in QAA understand what will happen when there is a loss incurred on a loan in QAA? The investors probably have some idea that their capital is at risk. As for the savers...
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littleoldlady
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Post by littleoldlady on Apr 13, 2017 18:38:28 GMT
Do investors in QAA understand what will happen when there is a loss incurred on a loan in QAA? The investors probably have some idea that their capital is at risk. As for the savers... Yes, some vague idea that there is some risk but absolutely no information on what it is or how to quantify or mitigate it. Literally investing blind. And I'm one of them, keeping fingers crossed and hoping to exit before the crush.
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mason
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Post by mason on Apr 13, 2017 18:49:54 GMT
The investors probably have some idea that their capital is at risk. As for the savers... Yes, some vague idea that there is some risk but absolutely no information on what it is or how to quantify or mitigate it. Literally investing blind. And I'm one of them, keeping fingers crossed and hoping to exit before the crush. Which is why most of my money at AC is in the MLIA and I only hold money in the QAA while it is waiting to be invested. Not that there is much to my taste in the way of new loans there anymore.
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