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Post by dan1 on Sept 28, 2018 18:11:24 GMT
Those in loans 59, 60, 67, 68, 97, 104, 105 should read their email from Ablrate before purchasing on the SM. you might want to include 85 in the above Thanks! Missed it in my haste to post the warning.
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Post by oktaeder on Sept 28, 2018 18:35:26 GMT
An the trick loans? Why are those affected?
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mason
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Post by mason on Sept 28, 2018 18:37:15 GMT
An the trick loans? Why are those affected? Check the Documents tab
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Post by elephantrosie on Sept 28, 2018 18:44:47 GMT
saleeeeee
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macq
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Post by macq on Sept 28, 2018 19:12:06 GMT
Even with the points made in the email it would seem the oft-mentioned worries about all the connected loans go up a notch
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Post by pmac67 on Sept 28, 2018 21:58:12 GMT
Reminds me of the 'Nose scene' in the Airplane film ! There's no reason to panic... Everybody stay calm !
Sold...
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nw99
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Post by nw99 on Sept 28, 2018 22:47:06 GMT
Buy at 30% yield and sell at par in a few months
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blender
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Post by blender on Sept 28, 2018 22:49:35 GMT
I was wary of those after some posts from my friend and mentor, Elliottm. So I am only in 59, and the physical security looks good enough not to panic. Think I will sit this one out.
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Post by Ace on Sept 29, 2018 0:23:24 GMT
The LTV has already reduced on quite a few of these due to amortization.
I've always been a little frustrated with amortized loans on ABL as they leave the stated Loan Value as the original loaned amount. The only way that I know to find the outstanding loan amount is to enter a figure in the " Amount to Buy" box and hit "Calculate".
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elliotn
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Post by elliotn on Sept 29, 2018 2:38:49 GMT
I was wary of those after some posts from my friend and mentor, Elliottm. So I am only in 59, and the physical security looks good enough not to panic. Think I will sit this one out. Good choice, sir. I can add some 102, bit nearer the mark but the SIPP layer is attractive for me with AH cherry-picking profitable going concerns for his pension. Nowhere near any BNG guaranteed co’s given the warning signs - B&W in administration, the (non-abl) CTxxck securities in receivership, the haemorrhaging in their last group accounts (curiously not mentioned in the latest Borrowing Proposals sold to lenders still burnishing the c2 year old 3M net asset cross corporate guarantee as a key part of the security suite which, while these historical accounts were not yet filed, would hopefully have been known from abl’s monitoring fee for existing loans and their origination duedil for the latest ones). Apart from the volume of co’s sharing the guarantee, VRs based on revenues for boozers not yet open are not punts I’m willing to wager, hopefully their capex translate at least ballpark into the kind of sustainable profits for those individual securities outlined at origination. Unlike, say, the Wxxxxxxxxx Tavern docs where BNL is accredited with a formidable 1.2M EBITDA for 9m to April 2018; that’s quite the turnaround in a few months (we are told abl have known about BNL’s commercially sensitive probs for a while).
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hazellend
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Post by hazellend on Sept 29, 2018 6:52:36 GMT
WhT about the 7 mill unsecured loan on cxxdstackers, did it draw down. If so that will massively dent crowdstackers reputation.
Also, weren’t they equity crowdfunding on crowdcube at one ppint
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elliotn
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Post by elliotn on Sept 29, 2018 7:42:58 GMT
WhT about the 7 mill unsecured loan on cxxdstackers, did it draw down. If so that will massively dent crowdstackers reputation. Also, weren’t they equity crowdfunding on crowdcube at one ppint 2x yep (although c8M secured on BNG & funded as recently as 1.5 weeks ago on Seedrs), fortunately they managed to seed before any of us were told (rather than inferred) - don’t they have some kind of prospectus with full disclosure of their known, let alone potential, risks?
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Post by dan1 on Sept 29, 2018 8:01:35 GMT
The LTV has already reduced on quite a few of these due to amortization. I've always been a little frustrated with amortized loans on ABL as they leave the stated Loan Value as the original loaned amount. The only way that I know to find the outstanding loan amount is to enter a figure in the " Amount to Buy" box and hit "Calculate". Ace - you can always refer to this post... p2pindependentforum.com/post/241177/threadI try and update it once a month or so. Let me know of any errors or omissions, ta
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blender
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Post by blender on Sept 29, 2018 8:33:02 GMT
Good choice, sir. I can add some 102, bit nearer the mark but the SIPP layer is attractive for me with AH cherry-picking profitable going concerns for his pension. ... Yes, I missed the fact that in our four accounts there is some 102. Same borrower as 59. The message was clear enough from the B&W saga, which you were good enough to bang on about for the benefit of the unwary.
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elliotn
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Post by elliotn on Sept 29, 2018 13:17:11 GMT
Good choice, sir. I can add some 102, bit nearer the mark but the SIPP layer is attractive for me with AH cherry-picking profitable going concerns for his pension. ... Yes, I missed the fact that in our four accounts there is some 102. Same borrower as 59. The message was clear enough from the B&W saga, which you were good enough to bang on about for the benefit of the unwary.
Of course, one retail investor’s banging on, is another professional’s prudent reminder (I’d certainly hope for the same when moving to a new platform). 5M owed to BNG - enough to bring down the mightiest of EBITDAs (although this excluded 1.4 MILLION interest and 0.2M directors’ dividends). Btw - what did you make of Axxxxx’ group of related co accounts yesterday?
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