fp
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Post by fp on Aug 30, 2016 17:24:38 GMT
I know this has been discussed before but the RCC loan seems to differs to the AE ones in the sense that with RCC the asset is the cars, not the underlying HP agreements. Therefore, surely the LTV should be based on the trade price of the asset, not the retail value. If anything goes wrong MT will not be offloading at retail prices, more like a job lot trade package. To me, RCC527 seems to have a much higher LTV than 70%. Or, have I missed something? This is exactly what I thought when i took a look at it earlier today, it wise to remember that all the AE loans are the same person too if diversification is a big part of your P2P plan.
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woodie
Member of DD Central
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Post by woodie on Aug 30, 2016 22:13:36 GMT
Shouldn't RCC527 be designated an AE prefix or am I missing something ?
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Post by lynnanthony on Aug 31, 2016 6:49:04 GMT
Shouldn't RCC527 be designated an AE prefix or am I missing something ? I have been assuming that RCC (R*** C** C******) and AE (A**** E*******) are completely separate, independent borrowers? Confirmation would be appreciated! In fact, I've been (lazily) using the loan prefixes as a guide of independence for judging diversification. Is that sound?
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Post by ogwellian on Aug 31, 2016 7:43:42 GMT
It's clearly stated in the RCC loan documents.
This is a business loan by a new company which has common ownership with those behind A**** E******* (current borrower with regards to loan numbers prefixed with ‘AE’).
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Post by MoneyThing on Aug 31, 2016 9:10:29 GMT
Morning,
Couple of responses:
1) We are just drafting some additional detail with respect to this loan which we will add to the loan particulars shortly. I will let you know when it has been updated.
2) The schedule has just been amended so that the first four characters are now showing with respect to the number plates so that you can see the age of the cars (for non-personal plates).
Kind regards,
Ed
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Post by MoneyThing on Aug 31, 2016 12:22:51 GMT
Morning, Couple of responses: 1) We are just drafting some additional detail with respect to this loan which we will add to the loan particulars shortly. I will let you know when it has been updated. 2) The schedule has just been amended so that the first four characters are now showing with respect to the number plates so that you can see the age of the cars (for non-personal plates). Kind regards, Ed Afternoon. Loan particulars have just been updated to provide some extra detail. Regards, Ed.
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ianj
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Post by ianj on Aug 31, 2016 13:42:36 GMT
Afternoon. Loan particulars have just been updated to provide some extra detail. Regards, Ed. From the update: Security The portfolio is managed by MoneyThing and RCC to ensure that the loan represents 70% of the current retail value (according to Glasses Guide) of the underlying vehicles. ...so the true LTV is much higher than 70% as any problems would be dealt with through the motor trade, not retail. Not for me. If I remember correctly, Glass's Guide provides both trade and retail values.
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kaya
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Post by kaya on Sept 13, 2016 8:44:19 GMT
This is just a general question. There is a lot of dosh going into this type of business loan, here and elsewhere; is there any concern that the bubble might burst up ahead?
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