jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,739
Likes: 3,134
|
Post by jonno on Jan 15, 2018 16:38:15 GMT
The core assets include 3 with loans on Assetz, & a bit more kerb appeal SteveT Indeed, and given I'm exposed to all three loans on AC, I'm struggling to see a justification for increasing my exposure to this group. Maybe once some of the AC loans have redeemed. AC #388 c. £1.9m overdue since 19th Dec 17, 10% pa 75% LTV AC #389 c. £1.5m overdue since 19th Dec 17, 10% pa 75% LTV AC #244 c. £1.9m maturity 18th March 18, 15.15% pa 73% LTV #244 was originally 12 months to 18th March 17 at 12%, but was extended by 12 months without a lender vote, but at an increased rate. #388 refinanced a smaller £600k loan at 10% (#245) There is c. £3.4m now overdue at AC, and a further c. £1.9m due in 60 days, making a total of c. £5.3m to be refinanced in short order .... I managed to get out of all three on AC and I'm certainly not climbing back in on this one. Definitely one for the brave with this crowd, and I don't mean MT.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jan 15, 2018 16:44:08 GMT
I'm with bargepole crowd on this one too. I'm not investing in a pub I wouldn't drink in, and I'm not even fussy.
|
|
madpierre
Member of DD Central
Posts: 303
Likes: 374
|
Post by madpierre on Jan 15, 2018 17:02:44 GMT
Another "marginal" offering and another I will let pass. But this is getting serious, as there are so few worthy homes for my funds at present I now have the most valuable mattress in our street
|
|
easylender
Member of DD Central
Posts: 248
Likes: 222
|
Post by easylender on Jan 15, 2018 17:42:39 GMT
After reading all the loan information the main question left in my mind is why are they borrowing this money? To re-finance an existing loan doesn't answer the question. What I need to know is does the borrower have a profitable use for the loan, or are they just bailing out a business that is running out of cash?
|
|
mary
Member of DD Central
Posts: 698
Likes: 711
|
Post by mary on Jan 15, 2018 17:54:20 GMT
The accounts show that the business has been paying nearly £1m of interest per year and that this has been sustainable, and that would support borrowings of ~£6m.
Most business's run on debt, so not too worrying in itself, and as this is a refinancing, provided total debt is not increasing, which is implied but not stated explicitly, would not be anything in itself to worry about. Obviously assuming that trading does not deteriorate over the course of the loan.
|
|
alison
Member of DD Central
Sanctuary!!
Posts: 356
Likes: 99
|
Post by alison on Jan 15, 2018 18:03:24 GMT
Another "marginal" offering and another I will let pass. But this is getting serious, as there are so few worthy homes for my funds at present I now have the most valuable mattress in our street Where is it you live again?
|
|
|
Post by Deleted on Jan 15, 2018 18:05:49 GMT
Most companies run on debt, but at these interest levels? Yes it is supportable but why would you? One thing is I'm glad they are in a seperate company.
|
|
bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,465
|
Post by bugs4me on Jan 15, 2018 18:47:23 GMT
Another "marginal" offering and another I will let pass. But this is getting serious, as there are so few worthy homes for my funds at present I now have the most valuable mattress in our street In the same club although not sure about the mattress - maybe the back of the sofa!! Bottom line for me is I'd sooner have idle funds than lost funds.
|
|
kermie
Member of DD Central
Posts: 689
Likes: 462
|
Post by kermie on Jan 15, 2018 19:21:26 GMT
mrclondon AC #388 is up to date; £15,687.49 received 22nd Dec, next payment due (full repayment) 19th Jan. AC #389 is also up to date; £12,656.24 received 22nd Dec, next payment due (full repayment) 19th Jan. AC #244 is also up to date (as you indicated); £23,671.87 received 22nd Dec, next payment due (monthly interest) 18th Jan - full repayment due 18th March. TBH, whilst these loans were a little high in LTV for my liking, I quite liked these loans on AC.
|
|
|
Post by mrclondon on Jan 15, 2018 19:26:40 GMT
mrclondon AC #388 is up to date; £15,687.49 received 22nd Dec, next payment due (full repayment) 19th Jan. AC #389 is also up to date; £12,656.24 received 22nd Dec, next payment due (full repayment) 19th Jan. AC #244 is also up to date (as you indicated); £23,671.87 received 22nd Dec, next payment due (monthly interest) 18th Jan - full repayment due 18th March. TBH, whilst these loans were a little high in LTV for my liking, I quite liked these loans on AC. The 19th Jan on 388/389 is just a display issue to allow the display to continue to accrue daily interest. The loan update dated early December explains this (and which I posted on DD Central eralier today), the loan maturity date was 19th December 2017, and the capital is now over due. These two loans are NOT up to date as both are missing the 100% capital repayments due on 19th December. An update from AC is pending which may shed some light on what is happening.
|
|
kermie
Member of DD Central
Posts: 689
Likes: 462
|
Post by kermie on Jan 15, 2018 19:37:12 GMT
mrclondon - ah...yes, as you point out the updates do indicate the 388/389 have now gone beyond their original terms - I'd not read that....I simply looked at the repayments tab.
|
|
|
Post by sannytwist on Jan 15, 2018 19:54:25 GMT
In light of the discussions , l think l will refrain from any investments as well. Thx for the input all, always great insight from the forum
|
|
|
Post by df on Jan 15, 2018 20:37:59 GMT
The core assets include 3 with loans on Assetz, & a bit more kerb appeal SteveT Indeed, and given I'm exposed to all three loans on AC, I'm struggling to see a justification for increasing my exposure to this group. Maybe once some of the AC loans have redeemed. AC #388 c. £1.9m overdue since 19th Dec 17, 10% pa 75% LTV AC #389 c. £1.5m overdue since 19th Dec 17, 10% pa 75% LTV AC #244 c. £1.9m maturity 18th March 18, 15.15% pa 73% LTV #244 was originally 12 months to 18th March 17 at 12%, but was extended by 12 months without a lender vote, but at an increased rate. #388 refinanced a smaller £600k loan at 10% (#245) There is c. £3.4m now overdue at AC, and a further c. £1.9m due in 60 days, making a total of c. £5.3m to be refinanced in short order .... Looks to me if this loan (if filled) could a be a partial repayment of 388/9??? I can't decide whether to invest or not. If I knew that 388/9 will be repaid I wouldn't mind investing a modest amount in MTBE924.
|
|
peteuk
Member of DD Central
Posts: 120
Likes: 100
|
Post by peteuk on Jan 16, 2018 0:06:45 GMT
This loan looks very messy now,can we trust the valuation , i think not! .in six months i now seem to have lost 30% of the lytham saint annes loan where the valuation was nearly 50% over valued. Money Thing please get your act together so i can invest in loans where i feel the risk is normal, not sale by pawn loans
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
|
Post by stub8535 on Jan 16, 2018 1:02:36 GMT
Indeed, and given I'm exposed to all three loans on AC, I'm struggling to see a justification for increasing my exposure to this group. Maybe once some of the AC loans have redeemed. AC #388 c. £1.9m overdue since 19th Dec 17, 10% pa 75% LTV AC #389 c. £1.5m overdue since 19th Dec 17, 10% pa 75% LTV AC #244 c. £1.9m maturity 18th March 18, 15.15% pa 73% LTV #244 was originally 12 months to 18th March 17 at 12%, but was extended by 12 months without a lender vote, but at an increased rate. #388 refinanced a smaller £600k loan at 10% (#245) There is c. £3.4m now overdue at AC, and a further c. £1.9m due in 60 days, making a total of c. £5.3m to be refinanced in short order .... Looks to me if this loan (if filled) could a be a partial repayment of 388/9??? I can't decide whether to invest or not. If I knew that 388/9 will be repaid I wouldn't mind investing a modest amount in MTBE924. Why not ask MT, by e ail, to ask the borrower. I am sure such a fine upstanding customer would give a reliable answer👿 maybe!
|
|