duck
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Post by duck on Apr 25, 2017 6:03:37 GMT
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greatmarko
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Post by greatmarko on Apr 25, 2017 6:37:42 GMT
Quite a poorly written article IMO - no mention of the existing GBBA or MLIA accounts: "The peer-to-peer lending platform is expanding its account range to five offerings, adding a longer-term and a purely property-backed account to its existing 30-day access, quick-access and green-energy accounts"
Surely it's expanding its account range to SEVEN offerings? (Unless they're killing off the GBBA & MLIA accounts?!) However, it was interesting to note that the GEIA rate will apparently be soon be dropping to 6%  |
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SteveT
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Post by SteveT on Apr 25, 2017 6:45:38 GMT
I assumed that the 5% "purely property backed" account would, in effect, be GBBA2
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oldgrumpy
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Post by oldgrumpy on Apr 25, 2017 8:55:48 GMT
Those accounts should soak up some of the surplus floating about in the 6%-8% market while only actually paying 4.75%-5% (presumably with the discretional provision fund).
While MLIA investors don't want them AC had to do something. What I want to know is, by how much will AC reduce allocations in new loans to the MLIA, especially in the 8.5%-10% sector?
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Post by chris on Apr 25, 2017 9:10:24 GMT
Those accounts should soak up some of the surplus floating about in the 6%-8% market while only actually paying 4.75%-5% (presumably with the discretional provision fund). While MLIA investors don't want them AC had to do something. What I want to know is, by how much will AC reduce allocations in new loans to the MLIA, especially in the 8.5%-10% sector? There is no allocation system currently in effect, it's one big market with all accounts operating at equal priority. A buy order from the MLIA has the same allocation as any other account.
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Post by jevans4949 on Apr 25, 2017 9:24:34 GMT
There is no allocation system currently in effect, it's one big market with all accounts operating at equal priority. A buy order from the MLIA has the same allocation as any other account. Conspiracy theorists will disbeleive this!
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Post by chris on Apr 25, 2017 9:29:14 GMT
There is no allocation system currently in effect, it's one big market with all accounts operating at equal priority. A buy order from the MLIA has the same allocation as any other account. Conspiracy theorists wil disbeleive this! Given over half the population thinks the moon landings were faked that wouldn't surprise me at all, but that belief wouldn't make them any more right!
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sl75
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Post by sl75 on Apr 25, 2017 12:25:37 GMT
There is no allocation system currently in effect, it's one big market with all accounts operating at equal priority. A buy order from the MLIA has the same allocation as any other account. When did this change? It was previously stated that the QAA / 30DAA pool had priority over all other accounts?
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Mick
Be nice... People respond.
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Post by Mick on Apr 25, 2017 12:52:39 GMT
When will these accounts go live.
Thanks,
Mick.
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Post by chris on Apr 25, 2017 12:58:30 GMT
There is no allocation system currently in effect, it's one big market with all accounts operating at equal priority. A buy order from the MLIA has the same allocation as any other account. When did this change? It was previously stated that the QAA / 30DAA pool had priority over all other accounts? We did some analysis earlier this year and concluded it hardly made any difference to the market so wasn't worth keeping the complexity. That no lenders noticed a difference backs that up.
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sl75
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Post by sl75 on Apr 25, 2017 15:06:01 GMT
When did this change? It was previously stated that the QAA / 30DAA pool had priority over all other accounts? We did some analysis earlier this year and concluded it hardly made any difference to the market so wasn't worth keeping the complexity. That no lenders noticed a difference backs that up. I was vaguely aware of some kind of improvement in speed of sales from MLIA in recent months, but as I wasn't aware of any reason for this, put it down to a combination of "luck" and "changing market conditions". Personally, I had little data on which to base an observation/comment, as I'd been avoiding putting myself in situations where I could plausibly end up with zero liquidity presumably due to being stuck behind a series of sales orders from the QAA/30DAA in a relatively illiquid loan (once bitten, twice shy). Presumably I no longer need to avoid this, and can adjust my investment strategy accordingly. So, somewhat belatedly, thanks for this!
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