happy
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Post by happy on Apr 8, 2018 16:21:30 GMT
in some ways investing in the QAA/30Day is like investing in an investment trust where technically you could say you are invested in the stock the investment trust is invested in but you are not actually in that when you invest the trust does not go and buy a portfolio of stock for you however the fund is managed for all investors.
As far as I understand interest will always be paid at the advertised rates assuming the PF is funded and there is enough income from the loans in the QAA/30Day to support full payment of interest. In the event of the loans held in the QAA not providing enough interest I believe that interest rate can be reduced however I understand this to be only happen once a month. Having said that, AC have never actually put in writing what thresholds exist and therefore at which point interest may be reduced in the future. Bottom line is it is a capped rate that will never exceed 3.75%/4.25% but there is a possibility it could be reduced by AC if conditions dictate.
Hope this helps.
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happy
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Post by happy on Apr 8, 2018 16:02:40 GMT
I'm a bit surprised to see suspended loans #227, 230, 233 and others appear in my brand spanking new, scarcely a day old ISA 30DAA account. In particular, the #227 and #233 updates say that the provision fund will not be covering missed interest payments (in the case of #227, we can expect no interest payments to even be accrued for the extended term. Does this mean that I'll be accruing more 'possible never to be paid' interest in my ISA 30DAA, or are QAA and 30DAA treated differently? I have enough of that in my main account. QAA and 30Day work differently in that you only really have notional ownership of any loan based on the percentage of the QAA/30Day you have and the amount of that loan in the QAA/30Day. You can still sell out as long as there is cash in the QAA/30Day or other loan units can be sold to fund your withdrawal. In theory someone may be left 'holding the baby' if everyone tried to sell out. EDIT: interest is paid irrespective of defaulted loans, assuming the non-defaulted loans are earning enough interest to pay and/or the PF is funded enough to support the interest missing payments... and of course forgot to mention the IFISA QAA/30Day is the same QAA/30Day as the non IFISA accounts, it is not a new pool of loans.
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happy
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Post by happy on Apr 8, 2018 15:22:16 GMT
Given both this and the windmill debacles, I can only assume either AC carry out no due diligence on borrowers, or that it's deliberately lending our money to borrowers they know will never pay it back. Given that the borrowers in both loans were heavily indebted to RBS before AC lent them our money, I can only assume we're being used to shore up RBS' balance sheet. I call the latter fraud. Back to trying to accuse AC of doing something illegal again but post is deviod of any facts, just accusation and inference.. You'd give Trump a run for his money if you ever started tweeting
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happy
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Post by happy on Apr 8, 2018 11:03:13 GMT
I was not in this loan (unless in 30DAA or QAA) so did not vote but i assume the company gave some sort of business projection that gave confidence to lenders. I am therefore assuming it wasn't simply a "give us another six months please, guv, or my kids starve and the wife is on the streets". Agreed, And this is my point exactly ashtondav I cannot see that AC would have allowed this course of action to unfold unless they see real intent from the borrowers to resolve this in way that provides a better outcome for all than simply shutting everything down and selling it all now for whatever we can get for it. Time will tell though.
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happy
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Post by happy on Apr 8, 2018 6:50:46 GMT
Just where are the voters that agreed and voted to no interest for six months. You have to be a kind of silly to do this, I could have understood a roll up of the interest for six months, for breathing space to sell then the interest added back to the loan ...but to give away best part of half a million is unprofessional at best. Certainly no one will buy loan parts now ... and in six months getting back to 12.5 percent is a dream. And just possibly this might give the business the chance to stabilise by selling off some assets, refinance the remaining whilst maintaining the operating business to preserve value. Half a million might prove to be money well spent compared to the losses we might all incur with a fire-sale of assets after forcing the borrowers out of business. I honestly do not believe AC would have entertained this option if they did not believe there was a reasonable chance of a successful outcome.
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happy
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Post by happy on Apr 6, 2018 18:11:11 GMT
This should be fixed now and I've been able to go through the full registration on my own account. Confirmed. worked for me after not working all day. Thanks Chris
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happy
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Post by happy on Apr 6, 2018 10:02:37 GMT
AC saying they cannot make a proposal on behalf of a borrower does not in any way say or imply that AC cannot exercise its(our) rights over the assets we have legal charge over. This is a process and in this case a very complex process involving multiple and dissimilar assets and businesses that also employ people and provide an income to the families of those involved. Doing the right thing here is not just about anyones rights in law.
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happy
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Post by happy on Apr 6, 2018 9:38:17 GMT
Saying that a borrower may choose a particular option in the future does not in any way mean that AC cannot force that same option on the borrower. They have not said that they have waived any rights they(we) have over the assets and/or the borrower. I see that we are at a stage in negotiations where AC are allowing/assisting the borrower to arrive at a mutually agreed outcome, whatever that may turn out to be. This approach can hopefully result in a much more desirable place to be in that preserves relationships and value for all our benefit.
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happy
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Post by happy on Apr 6, 2018 9:12:45 GMT
By not allowing lenders to vote on enforcing the loan and going straight to insolvency proceedings, AC are effectively trying to stop lenders from getting their money back. An intolerable situation. What with this loan and the windmills, the PF is on the hook for about £11m. I have little hope for the future. Not sure why you think A.C. are not allowing lenders to vote vote on enforcing the loan. This is a but one stage in a process aimed at achieving the best outcome in terms of repayment or recovery. Time and again over the recent past AC have achieved a recovery that few thought achievable and the multitude of posts here show the gratitude of many of our fellow posters for their exceptional efforts. Effective management and recovery of troubled loans takes time and measured action not just simply enforcing your rights to an asset just because you can. This course of action rarely brings the best results however where it has been needed in the past AC have taken swift action to secure assets, sell them and then pusue all other avenues for further recovery. As for the PF being on the hook for £11m, not quite sure where that figure comes from unless you just added up the value of these loans. Unlikely that 100% of these loans are sitting in the PF protected accounts and as the PF only covers any potential loss after sale of the assets any potential PF payout will likely be a small fraction of that £11m figure you have put out there. IMHO if you want to surround yourself with doom and gloom prophecy there are a few other platforms you should be investing in rather than A.C. It's never a perfect world,  happens and it is how you deal with that that sets you apart from the rest. P.S. so glad you are back posting here again😁
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happy
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Post by happy on Mar 26, 2018 7:31:23 GMT
I am going to have to do that myself later next week so good to know, thanks asking the question and for posting info here.
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happy
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Post by happy on Mar 25, 2018 18:42:40 GMT
Just updating my spreadsheet with my AC figures and on updating the QAA and 30Day figures I noticed that for the first time (by my reckoning anyway) AC have passed £100 Million invested in their Access Accounts. £100,059,489 to be exact. I know these accounts are not everyone's Cup of Tea but personally I think they fill a huge gap in the P2P marketplace and I guess £100 Million invested suggests they are on the money. So Well Done stuartassetzcapital chris andrewholgate and all at Assetz Capital, a huge achievement. Interesting and must make for a very liquid account, but can I ask where you get the data from? Thanks. On the AC dashboard go to the QAA or 30Day section and click on "show more" it show how much is invested in each account.
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happy
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Post by happy on Mar 23, 2018 10:18:10 GMT
yes (sadly but then im living up to my moniker) i spotted this too. £16m on the SM. which seems fair in comparison, but if i could work out what was happening on here i would be a richer man. Loans go from virtually nothing for sale to 500k without any great reason. It seem that recent loans at sub 8% are sitting on the SM, although my maths tells me that QAA and 30DA should be holding a fair wack so not sure why so much (80%+ ) is sitting up for sale. Answers on a postcard... I have a theory here and it goes like so..... when there is oversupply on the SM for a loan then what gets sold from your selling pot should be the percentage that your pot represents of the total amount for sale for that loan on the SM (ignoring discount sales that will always be sold first of couse). So suppose you want to liquidate 5% of your £1000 holding in loan nnn then if you simply put the £50 you want to sell up for sale it will be a significantly smaller percentage of the total pot than if you put the whole £1000 up for sale and then cancelled the sale once you have sold about what you wanted to get rid of. This "should" result in you selling you required £50 faster, assuming some level of demand on the SM for loan nnn. Obviously you would need to monitor carefully to make sure you dont loose all of your £1000 but I think the risk of that should be low where there are large amounts on the SM for that loan. Just a theory but could explain why large amounts do seem to come and go from the SM from time to time.
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happy
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Post by happy on Mar 22, 2018 7:31:55 GMT
Looks like RS Rolling market satisfied it's hunger for funds early today, all done and dusted by 9:45 and at not much more than 3.1%  . My hold RS repayments in Rolling for time being strategy might have to be reconsidered if this trend continues.....but where else to puts?  . I switch between AssetzCapital QAA and RS Rolling for instant access, depending on rates. At present it’s all going to AC, and I would imagine rates will remain suicidal on RS until ISA season ends. I'd like to do the same but over my platform limit with AC already!
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happy
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Post by happy on Mar 21, 2018 21:22:13 GMT
Sorry missed your point there about the rate. I understand your frustration when loan details change or disappear, I resorted to the usual "keep it all on a spreadsheet" approach with multiple backups just in case anything changes without me noticing for a while.
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happy
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Post by happy on Mar 21, 2018 20:29:56 GMT
This seems to happen when a loan is being repaid, been discussed before and pretty sure we were told by Chris at AC it is a display thing and does not affect interest paid up to the pojnt of redemption. Yes, but why can't it be shown somewhere? If nothing else as narrative text in the Activity tab I'm sure I saw there was an activity tab update explaining the repayment of the loan but maybe there was a delay in this going up on the system.
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happens and it is how you deal with that 
. My hold RS repayments in Rolling for time being strategy might have to be reconsidered if this trend continues.....but where else to puts? 
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