mikes1531
Member of DD Central
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Post by mikes1531 on Jul 21, 2015 11:49:14 GMT
I went into this one, and have stayed in, with my minimal share. With regard to the LTV, etc., my concern was that the value of the premises seems to be for a going concern. Given the problems the borrower has already had, and the fact that pubs across the land have been struggling in general, if it came to selling the place, it might not be as a going concern, in which case it would be unlikely to reach the given valuation. I think the interest rate reflects the possibility of the building being sold without a trading business. However, the owners aren't going to let that happen, they have run the business for years and their own home is also part of the security. If things got really bad I would expect the owners to sell their home and live in the hotel. : "seems to be"?? The valuation report appears to be rather more definite than that, giving two values... £650k in its current state as a going concern. And then a second value based on... ...of £350k. As for sqh's suggestion that if things got really bad the borrowers might sell their home... They could do that, but it wouldn't raise much -- if any -- cash for them since that property was valued at £350k and had a £309k first charge against it. (That's an LTV of 88%.) I think the main benefit of giving up their home would be that their mortgage payments would stop, and that would help their cash flow.
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ianb
Posts: 161 
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Post by ianb on Aug 13, 2015 15:37:31 GMT
...This has just become tradeable again !!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Aug 13, 2015 16:34:22 GMT
...This has just become tradeable again !! But only actually tradable if you go in and re-re-re-enable the manual invest button  Once was enough, twice was slightly annoying, but 3 times? I really like the new 'disable until lender chooses to reenable' functionality, but I see no point in continually re-disabling it for me after I've given my clear instruction. Had I gone on holiday yesterday I'd have been truly annoyed at having been stopped from purchasing until I got back again and units may have all disappeared, after I'd made it pretty darned clear twice over I wanted to. Thanks to the heads up from ianb I re-re-re-enabled in time to be able to buy what I had money available for. If you want to trade it, best go check. Edit: I note from the Q&A that I'm not alone in this gripe - obviously that will get deleted from the Q&A in due course.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Aug 13, 2015 16:57:08 GMT
...This has just become tradeable again !! But only actually tradable if you go in and re-re-re-enable the manual invest button Once was enough, twice was slightly annoying, but 3 times? I really like the new 'disable until lender chooses to reenable' functionality, but I see no point in continually re-disabling it for me after I've given my clear instruction. Had I gone on holiday yesterday I'd have been truly annoyed at having been stopped from purchasing until I got back again and units may have all disappeared, after I'd made it pretty darned clear twice over I wanted to. Thanks to the heads up from ianb I re-re-re-enabled in time to be able to buy what I had money available for. If you want to purchase, best go check. Edit: I note from the Q&A that I'm not alone in this gripe - obviously that will get deleted from the Q&A in due course. Didnt seem to have this problem, set my target, ticked box, applied, then enabled ignoring box and it bought the loan.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Aug 13, 2015 17:02:36 GMT
But only actually tradable if you go in and re-re-re-enable the manual invest button Once was enough, twice was slightly annoying, but 3 times? I really like the new 'disable until lender chooses to reenable' functionality, but I see no point in continually re-disabling it for me after I've given my clear instruction. Had I gone on holiday yesterday I'd have been truly annoyed at having been stopped from purchasing until I got back again and units may have all disappeared, after I'd made it pretty darned clear twice over I wanted to. Thanks to the heads up from ianb I re-re-re-enabled in time to be able to buy what I had money available for. If you want to purchase, best go check. Edit: I note from the Q&A that I'm not alone in this gripe - obviously that will get deleted from the Q&A in due course. Didnt seem to have this problem, set my target, ticked box, applied, then enabled ignoring box and it bought the loan. Yes, but I'd ticked a couple of days ago, and previously before that.
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Post by pepperpot on Aug 13, 2015 17:03:22 GMT
I've had to re-enable it twice, once when it was suggested it would be tradable and once just now. I must have missed one in the middle.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Aug 13, 2015 17:08:38 GMT
What makes it feel more annoying is that when you do re-enable you get asked to confirm that you really, really mean it. So why go on and make the assumption I didn't?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Aug 13, 2015 17:09:34 GMT
Didnt seem to have this problem, set my target, ticked box, applied, then enabled ignoring box and it bought the loan. Yes, but I'd ticked a couple of days ago, and previously before that. Ah, seems AC doesnt allow for premature tickulation! 
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Post by chris on Aug 13, 2015 17:42:09 GMT
Yes, but I'd ticked a couple of days ago, and previously before that. Ah, seems AC doesnt allow for premature tickulation! Nicely done. The system requires consent each time someone in the back office presses a button to say consent needs to be given (i.e. it resets on every button press). I'll check that our process is correct as they shouldn't be pressing it multiple times if a loan has been suspended unless there's significant new information being released. The revamped MLIA will allow you to say that your target should remain active even if there's a monitoring event (such as a single missed payment) or a credit event (default), amongst other options. So, for example, you could tell the system to carry on trading even if there's a missed payment but to suspend things pending your instruction if there's a default.
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mikeb
Posts: 1,072
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Post by mikeb on Aug 13, 2015 17:47:09 GMT
Didnt seem to have this problem, set my target, ticked box, applied, then enabled ignoring box and it bought the loan. Yes, but I'd ticked a couple of days ago, and previously before that. Thanks for the warning RR, I just went to check -- the "Enable" I did on 10th August has been cancelled. It's good to know that AC's systems still haven't quite got the hang of following lenders' instructions  chris any idea what happened this time? Edit: Crossed with chris 's post
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Aug 13, 2015 18:12:14 GMT
Ah, seems AC doesnt allow for premature tickulation! Nicely done. The system requires consent each time someone in the back office presses a button to say consent needs to be given (i.e. it resets on every button press). I'll check that our process is correct as they shouldn't be pressing it multiple times if a loan has been suspended unless there's significant new information being released. The revamped MLIA will allow you to say that your target should remain active even if there's a monitoring event (such as a single missed payment) or a credit event (default), amongst other options. So, for example, you could tell the system to carry on trading even if there's a missed payment but to suspend things pending your instruction if there's a default. I guess what we need then is a clear statement on the activity tab of when the button has been pressed. Comes back to a previous point about thinking like lenders. So today there's an update announcing the un-suspending of #41. Does that mean that the button has been pressed today or is the button not actually pressed until the actual suspension is removed at 4pm Tues. Simple statement asserting at what point lenders are able to re-enable targets would avoid confusion. It would, of course, be preferable if that point was at the notification time as that would allow lenders who wont be around a chance to set their accounts to react in their absence as they can with drawdowns (up to a point inevitably)
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Post by chris on Aug 13, 2015 18:15:09 GMT
Nicely done. The system requires consent each time someone in the back office presses a button to say consent needs to be given (i.e. it resets on every button press). I'll check that our process is correct as they shouldn't be pressing it multiple times if a loan has been suspended unless there's significant new information being released. The revamped MLIA will allow you to say that your target should remain active even if there's a monitoring event (such as a single missed payment) or a credit event (default), amongst other options. So, for example, you could tell the system to carry on trading even if there's a missed payment but to suspend things pending your instruction if there's a default. I guess what we need then is a clear statement on the activity tab of when the button has been pressed. Comes back to a previous point about thinking like lenders. So today there's an update announcing the un-suspending of #41. Does that mean that the button has been pressed today or is the button not actually pressed until the actual suspension is removed at 4pm Tues. Simple statement asserting at what point lenders are able to re-enable targets would avoid confusion. It would, of course, be preferable if that point was at the notification time as that would allow lenders who wont be around a chance to set their accounts to react in their absence as they can with drawdowns (up to a point inevitably) Admin team should have pressed the button when the unsuspension was announced to allow lenders to review and reset their targets. It should not then be pressed again. I've emailed them to ask them to confirm this is the process they're following - if it's not I'll make sure we send an announcement to affected lenders.
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Post by pepperpot on Aug 13, 2015 18:27:16 GMT
I guess what we need then is a clear statement on the activity tab of when the button has been pressed. Comes back to a previous point about thinking like lenders. So today there's an update announcing the un-suspending of #41. Does that mean that the button has been pressed today or is the button not actually pressed until the actual suspension is removed at 4pm Tues. Simple statement asserting at what point lenders are able to re-enable targets would avoid confusion. It would, of course, be preferable if that point was at the notification time as that would allow lenders who wont be around a chance to set their accounts to react in their absence as they can with drawdowns (up to a point inevitably) Admin team should have pressed the button when the unsuspension was announced to allow lenders to review and reset their targets. It should not then be pressed again. I've emailed them to ask them to confirm this is the process they're following - if it's not I'll make sure we send an announcement to affected lenders. Maybe the Admin team need a re-enable button once the re-enable button has un-abled. 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Aug 13, 2015 18:42:45 GMT
Admin team should have pressed the button when the unsuspension was announced to allow lenders to review and reset their targets. It should not then be pressed again. I've emailed them to ask them to confirm this is the process they're following - if it's not I'll make sure we send an announcement to affected lenders. Maybe the Admin team need a re-enable button once the re-enable button has un-abled. Maybe a button icon on the loan page. A pictorial representation of whether the button has been pushed  LOAN OFF . . . . LOAN ON
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bg
Member of DD Central
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Post by bg on Aug 14, 2015 8:05:12 GMT
Any idea why this loan doesn't show up under the units available filter?
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Once was enough, twice was slightly annoying, but 3 times? I really like the new 'disable until lender chooses to reenable' functionality, but I see no point in continually re-disabling it for me after I've given my clear instruction. Had I gone on holiday yesterday I'd have been truly annoyed at having been stopped from purchasing until I got back again and units may have all disappeared, after I'd made it pretty darned clear twice over I wanted to. Thanks to the heads up from 
