spockie
Member of DD Central
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Post by spockie on May 2, 2014 16:00:11 GMT
New bridging loan - 1% per month for 6 months.
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Post by Ton ⓉⓞⓃ on May 2, 2014 16:54:15 GMT
Twinkle Twinkle, why not just make it all stars? It would look so pretty...
(Reminder to self Hertfordshire Loan)
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 2, 2014 20:36:19 GMT
I'd be surprised if this loan does not close before opening or shortly after opening. Pre-bids have already eaten half of it & with its small size, those who cannot pre-bid will surely gulp the rest of it very quickly after opening tomorrow.
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Post by Come_on_Grandad on May 2, 2014 22:25:18 GMT
Can anyone explain to me how the LTV is calculated? Second charge on domestic property worth £2m, first charge mortgage £1m, loan £95k. I really don't see how this is 55% LTV. The L in the LTV is the sum of all loans, so here is close to £1.1m I don't know if this is industry standard, but all assetz loans that I've looked at do this. I guess LTV is a characteristic of the security itself, so it needs to reflect the totality of the loans. If your house had two mortgages, it would be your house that has an LTV number, and you'd add the loans to get to it.
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andy2001
Member of DD Central
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Post by andy2001 on May 2, 2014 22:28:10 GMT
Can anyone explain to me how the LTV is calculated? Second charge on domestic property worth £2m, first charge mortgage £1m, loan £95k. I really don't see how this is 55% LTV.
first charge + second charge. 1000000+95000=1095000
2mil*54.75% 2000000*0.5475=1095000
The first charge added to the 2nd is 54.75% LTV, bit the risk is higher than 54.75% value as a first charge.
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Post by Ton ⓉⓞⓃ on May 3, 2014 16:13:55 GMT
Sorry to bother you chris but I fairly certain I put in pre-bids for the auction of £200 in 20's and 40's for easy sale to others. But I see the system after enacting my pre-bids then chucked in all the rest of my money in my a/c too. AI seems to have thought that my target for investment was £637.41 I don't know how it came to that conclusion, I didn't put that figure in the target box, as far as I'm aware. Thanks In EDIT The security settings of my computer only allow a file and not a piccy |
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kmac
Member of DD Central
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Post by kmac on May 3, 2014 17:16:57 GMT
Sorry to bother you chris but I fairly certain I put in pre-bids for the auction of £200 in 20's and 40's for easy sale to others. But I see the system after enacting my pre-bids then chucked in all the rest of my money in my a/c too. AI seems to have thought that my target for investment was £637.41 I don't know how it came to that conclusion, I didn't put that figure in the target box, as far as I'm aware. Thanks In EDIT The security settings of my computer only allow a file and not a piccy It has happened to me too. I set my prebid at £200 It allocated me this and then raided my cash balance of £212.66 and turned this into a bid.
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Post by rudry2677 on May 3, 2014 17:39:43 GMT
I put in two small pre-bids. One was accepted the other wasn't. I have, a few moments ago, placed another small bid and it has been accepted. A little gremlin hunting required at office methinks.
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acorn
Posts: 118
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Post by acorn on May 3, 2014 17:49:47 GMT
I had a pre-bid request in for £20 which is the current cash in my a/c, but it hadn't been converted into a bid. The drop-down "pre-bid" box was still ticked but the order for the pre-bid had disappeared and the cash was still in my a/c. I have not yet been able to pick anything up using AI, but don't think I'm doing anything wrong. I usually adjust the "% of loan" down to about 5%, though I suspect that only kicks into play if an amount hasn't been entered.
I have recently pushed the boat out and bought a couple of £100 chunks when underwriters put blocks on the AM. Although I had active requests in place, AI hadn't filled them despite there being plenty on the AM so I bought them manually.
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mikeb
Posts: 1,053
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Post by mikeb on May 3, 2014 17:53:39 GMT
Another minor bug, timezone problems still occurring in the UI ?
On the loan page itself, it said "Auction Starts at: 3rd May 2014 at 16:00"
On the "live loans available for investment" summary: "Starts 3rd May 2014 at 17:00"
16:00 GMT, 17:00 BST ... all the same thing, but confusing otherwise.
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acorn
Posts: 118
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Post by acorn on May 3, 2014 18:03:30 GMT
Have checked again and had the target bid set for £40 but only had £20 available so didn't get any.
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Post by Ton ⓉⓞⓃ on May 3, 2014 19:28:18 GMT
Have checked again and had the target bid set for £40 but only had £20 available so didn't get any. So acorn I take it that means everything went okay, it's just that there was less money in your a/c than you thought for this auction?
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star dust
Member of DD Central
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Post by star dust on May 3, 2014 19:49:36 GMT
My pre bid went through fine, mind you there was only another 2p in my account that it could possibly have grabbed at the time  . But something funny must've happened as AC is currently showing Prebids: 0.02% and User bids: 89.69%. IIRC pre-bids were over 70% and I would have thought a good portion would have been filled. I did notice just before the auction an AI seemed to have been set up for me - I left it alone in case it disturbed my pre bid! |
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star dust
Member of DD Central
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Post by star dust on May 3, 2014 19:52:33 GMT
Am I being dumb - do all 'pre-bids' convert to 'user bids' at auction?
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Post by Ton ⓉⓞⓃ on May 3, 2014 20:07:10 GMT
Am I being dumb - do all 'pre-bids' convert to 'user bids' at auction? AIUI all pre-bids are indeed converted to live bids just before the auction starts. Since AI pre-bids only have one chance to go on, if the money isn't there in the a/c when it checks the pre-bid dies, but AI then takes over 5 mins later and tries to put in live bids to get to your target while the auction's running, but obviously if the money still isn't in your a/c it can't put the bids in either, not until the money turns up that is. HTH But why there's a small number of prebids still apparently alive is a mystery, though I've seen it on other recent auctions
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. But something funny must've happened as AC is currently showing Prebids: 0.02% and User bids: 89.69%. IIRC pre-bids were over 70% and I would have thought a good portion would have been filled. I did notice just before the auction an AI seemed to have been set up for me - I left it alone in case it disturbed my pre bid!