happy
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Post by happy on Dec 28, 2017 21:42:57 GMT
There is no primary and secondary market as such with AC. All loans are first underwritten, effectively with the QAA in most cases now we suspect, and then these new loans are moved on to the loans market for us and the automated accounts to partake in should we so choose. So in reality what we see as the market is the secondary market offering and we buy and sell only on that market.
hope that makes sense.
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happy
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Post by happy on Dec 28, 2017 12:11:28 GMT
I have also noticed a similar decrease in QAA/30DAY size so I assume there is significant movement from these 2 accounts into IFISAs, perhaps into PSA/GBBA2 accounts. This volume of movement from/to these accounts could create the large number of loans we are seeing on thd SM currently.
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happy
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Post by happy on Dec 22, 2017 14:20:22 GMT
So my presents from Father Christmas consist of 9 property loans all due to repay in December but they have all gone late so no money until next year (he said confidently whilst secretly hoping he wasn't sounding too overly concerned about his capital).
So glad I am only a few grand away from my exit of FC.
Happy Happy Christmas all you posters!
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happy
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Post by happy on Dec 20, 2017 18:00:40 GMT
Spot on! Good idea leaving the MLIA off the list, doubt you wouldn't win too many friends rebalancing everyones carefully constructed MLIA for them now would you  |
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happy
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Post by happy on Dec 19, 2017 20:22:16 GMT
I've not done it but I would either do an online chat or give their Customer Services a call. They are normally very good at explaining that kind of stuff fairly quickly.
I would be interested to know the answer to this, if you can post pack that would be great, thanks.
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happy
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Post by happy on Dec 19, 2017 16:33:53 GMT
TBH a working solution any time in Q1 would be perfect and worth the wait for me as this fixes almost all of the issues I've ever had with AC automated accounts, many thanks in advance.
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happy
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Assetz Capital (AC)
IFISA
Dec 19, 2017 13:58:34 GMT
Post by happy on Dec 19, 2017 13:58:34 GMT
Even the online chat was showing busy for a long while earlier, I think there will be a lot of very tired AC bunnies by the end of the day EDIT: and tired AC hampsters... |
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happy
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Post by happy on Dec 19, 2017 13:55:21 GMT
I am in a similar position. For what its worth I am testing out LendingWorks since they have a similar proposition to the "old" Zopa. Although I also use RS, I am not convinced that it is a like for like platform to Z in terms of the borrower composition, and therefore I would expect it to offer higher rates to Z Lendingworks? Waaaaaaaaay too small for me. I'd want another two years before going there. Fair point, however they have grown their loan origination by 100% over the last year from £40m to £80m with over £50m active loan book so they are certainly not small any more, also they have increased lenders from around 2,000 to over 3,700. The statistics I like are the average income of their lenders borrowers, at nearly £34k pa (so mostly low-risk borrowers) and they do 99.5% of their loans to individuals so very little business lending which helps me with sector diversification.
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happy
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Post by happy on Dec 19, 2017 13:38:19 GMT
Hello, I am leaving Zopa now the provision fund has stopped. Slowly taking my money out every week but not sure where to put it. I am in a similar position. For what its worth I am testing out LendingWorks since they have a similar proposition to the "old" Zopa. Although I also use RS, I am not convinced that it is a like for like platform to Z in terms of the borrower composition, and therefore I would expect it to offer higher rates to Z FYI I have had a low 5 figure pot in LendingWorks for over 2 years and I'm adding small amounts to it weekly. Nothing but impressed with the platform, everything dead easy to use and always works really well. Only issue I had was lending got a bit slow when they launched their IFISA but this is to be expected I think. Their engagement here is also good, another plus over RS and rates are OK particularly considering the added default insurance they provide. I have more invested in RS and Zopa but LendingWorks is the only one of the 3 I have been adding funds to over the last 6 months. Bottom Line: The most boring P2P site I use, which actually means it is is really easy to use, clear and concisely laid out, works pretty much as advertised almost all of the time and when you ask them questions they reply quickly and answer the question fully if they can. Based on my experience it would be an A* rating from me.
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happy
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Post by happy on Dec 16, 2017 14:27:54 GMT
I too have buy orders sitting there doing nothing with SM availability however just tried selling a little of a loan at 1% discount and it got gobbled up straight away............so something is buying on the SM!
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happy
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Post by happy on Dec 16, 2017 14:21:30 GMT
The GBBA/GEIA and the more recent PSIA diversification is not really fit for purpose when investing large amounts at a time as it has a tendency to focus on the few loans that have large amounts on the SM at that time. I have however achieved reasonable levels of diversification (up to around 10% max in any one loan) in the GBBA/GEIA by manually adding smaller amounts in over time and avoiding adding more while my larger loan holdings had any SM availability. Really should not need to go through this level of S&H for an automated account IMHO but despite some lengthy debate with AC and OPs here well over a year ago AC never managed to prioritise the promised automated diversification tool.
About 3-4 months ago I put a spare £3000 into the PSIA as somewhere to hold it for a while and to see what happened to it (£1k initially and then another £2k). Just checked on it and it has purchased almost 27% in one loan, 21.5% in another and 19% in another. So 67% invested in 3 loans and over £800 in the largest holding! So it seems that there are situations where the diversification can be even worse than the advertised 20%........Use with caution until AC provides proper diversification on these automated accounts, they have been told enough times to know people are not really comfortable with how things work right now.
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happy
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Post by happy on Dec 15, 2017 16:57:04 GMT
Panic ye not saith the Lord. All of a sudden it will come to pass that RS will discover a "borrower" who wants many hundreds of grand - and careful placing of thy bets will be rewarded with 5-6%. Keep thine eyes open, though. Veriy, I have missed 5.8/5.9% twice in the last fortnight.  As wise as he is grumpy. I wont mention the old part
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happy
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Post by happy on Dec 7, 2017 21:26:37 GMT
look at it another way. I like to be fairly diversified. If i ignore everything below 8% i would have very few new loans. If you invest in the auto accounts you can end up with very large holdings in loans that you might not want much of at all, my 30 day account has 25% of its entire holding in 9 loans. I dont know know the size of the PF; but while i am sure it can cope with the odd 100k debt, the 30 day account has 9 loan holdings that are over £1m. Not sure how well the PF can cope with a couple of hits on those. So I am trying to invest all mine in MLIA over a few months. I take a small chunk of most loans ( but not all- i am wary of too many nursing home developments at any interest rate ) and i am currently earning 7.7% overall. I will take a few losses, but i am still hopeful of a net return of over 7%. Totally agree with you here and my strategy is similar to yours with a similar headline return. My portfolio diversification is based on investing in any loan where I am comfortable with the underlyings security and exit plan. Investment amount for each loan isscored based on security type (i.e. an industrial unit gets a lower investment score than a residential property, a development project less than a fit-for-use property. I also factor in the LTV and underlying business type so a pub is treated as higher risk than an established services business for instance. I feed the data into my spreadsheet and it tells me howmuch to invest. I adjust weightings as things change to increase or reduce exposure to specific loan profiles. So far after 2.5 years I am invested in about 250 loans and returning around 8% with likely losses around £200 on a mid 5 figures investment. I see the portfolio as geared towards minimising capital loss and loans like this play an Important part in it, admittedly probably only around £100 for a loan like this with a 75% LTV.
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happy
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Post by happy on Dec 1, 2017 20:29:54 GMT
So is the biggest surprise that Lendy only came 8th after coming second in the 2016 Best Overall Platform poll or is it that Lendy came 8th? How times change |
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happy
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Post by happy on Nov 25, 2017 9:28:47 GMT
I have unique email addresses for each platform Assetz were the first to lose control (as evidenced by my getting the same spam to both old and new special AC addresses at the same time). They claim it can't be possible and nobody else suffered the same problem (and they did say they actually have a few dummy addresses so they would know) 6 weeks ago Money and Co. Same thing. Horlix herself said it couldn't happen but she would ask head computer honcho to report; I'm still waiting And just yesterday Lendinvest. I've told them, so far no reply. Of course it could be your email provider that is leaking and not the platforms, just a thought. I too had the Equifax letter. Email, DOB and phone numbers leaked so seems sensible to be taking their services for the free 2 year period.
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