|
|
Post by Ton ⓉⓞⓃ on Aug 18, 2014 16:24:20 GMT
N Wales BL has 0.5% cashback assuming you have £5k behind the sofa. A one off or the start of underwriting lite? I can't see Lenders making up the difference of 400k making retail lenders total of 500k. I wonder how many Lenders have 5k of shadow bid headroom right now, AC must know this and see how much cash is sitting in a/c's. Is there about to be big payout/repayment? IN EDIT Lenders only have 72.5k as far as I can see that's not in bids.
|
|
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
|
Post by ramblin rose on Aug 18, 2014 16:31:31 GMT
And this is a prime example of why it's annoying me that I keep getting logged out now - I want to quickly have a butchers at this and I have to go through the login rigmarole to do so - AGAIN!
|
|
|
|
Post by Ton ⓉⓞⓃ on Aug 18, 2014 17:38:03 GMT
0.5 on 5k for the phone deal too now...
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
Likes: 540
|
Post by j on Aug 18, 2014 18:33:23 GMT
Still doesn't do it for me  |
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Aug 18, 2014 18:42:57 GMT
Would be a shame to lose NWBL - I'd be tempted to up my bid if I had the cash. From an AC perspective, this would be a dent, since I think some of their business is acquired on the basis of their ability to largely guarantee underwriting is available.
The phone distributor, however: with LTV > 100%, I'm not sure what could be done to convince me. I guess if I understood the business it might make sense, but the headline LTV is enough for me to just stop right there.
|
|
pikestaff
Member of DD Central
Posts: 2,187
Likes: 1,546
|
Post by pikestaff on Aug 18, 2014 21:41:33 GMT
The phone deal is amortising, so the LTV is only >100% for a very short while. I was planning to buy on the aftermarket but will now think about asking for my shadow bid limit to be increased.
|
|
|
|
Post by mrclondon on Aug 19, 2014 13:05:52 GMT
Extra 0.5% not exactly causing a deluge of bids. Not exactly sure whether it's the specific deals that are the issue, that the lender base has run out of cash or the fact it's mid august. Or a combination of all three. I'm not keen on the phone distributor and will skip completely on that one. The property one at 11% plus 0.5% cash back works out at 11.67% annual rate (assuming a 9 month term) which still compares unfavourably with SS 12% + 0.5% cashback which is 13% annual rate (assuming 6 month term). Either some of the underwriters are on holiday, or the pot of money is exhausted for now - I wonder how much of a problem the £0.75m of underwriter commitments tied up in Midlands Tr*** tranches 3,4 & 5 is. Until some of the AC 6 month bridging loans return some cash, I'm pretty much fully invested at present; but given the latest news on Hackney looks promising I've decided to do my bit to help the property one.
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Aug 19, 2014 15:58:47 GMT
If they see Hackney redeeming next week, I wonder if AC can extend the auction. They still need another 380k and £2.2m might well do the trick. I've decided to lean in a bit on this one, prior to some upcoming redemptions. As a few have already said, a number of bridging loans should end soon, releasing funds to invest in current & upcoming loans & reducing some of the built up pressure. The problem is if people want higher rates (eg as with SS), meaning pressure on underwriting will still be there.
|
|
|
|
Post by mrclondon on Aug 19, 2014 18:33:06 GMT
The cashback offer reads "0.5% CASHBACK ON ALL RETAIL INVESTOR BIDS OVER £5,000 IS NOW BEING OFFERED ON THIS LOAN" (my emphasis)
Has anyone actually checked with AC that it applies to bids of £5000.00 ? The soliatary (new) large bid on the phone loan is £6k, but apart from my bid on the property loan of £5020, all the other large bids appear to be £5000.00
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Aug 19, 2014 19:54:03 GMT
The cashback offer reads "0.5% CASHBACK ON ALL RETAIL INVESTOR BIDS OVER £5,000 IS NOW BEING OFFERED ON THIS LOAN" (my emphasis) Has anyone actually checked with AC that it applies to bids of £5000.00 ? The soliatary (new) large bid on the phone loan is £6k, but apart from my bid on the property loan of £5020, all the other large bids appear to be £5000.00 I have a feeling AC will re-word & offer from £5k plus. I think they did this with one or two older loans & then re-phrased
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Aug 19, 2014 19:55:34 GMT
The cashback offer reads "0.5% CASHBACK ON ALL RETAIL INVESTOR BIDS OVER £5,000 IS NOW BEING OFFERED ON THIS LOAN" (my emphasis) Has anyone actually checked with AC that it applies to bids of £5000.00 ? The soliatary (new) large bid on the phone loan is £6k, but apart from my bid on the property loan of £5020, all the other large bids appear to be £5000.00 I did notice that. Two people have asked the same question on the Q&A. I hope AC will pay those who bid £5k. Worse come to the worst, add another solitary £20 to tip over £5k, though I'm sure AC will now say from £5k (famous last words)
|
|
|
|
Post by chris on Aug 19, 2014 21:11:04 GMT
Excluding bids of exactly £5k wouldn't be particularly honourable. I'm sure the team mean, and will honour, £5k and above.
|
|
|
|
Post by Ton ⓉⓞⓃ on Aug 19, 2014 21:31:48 GMT
Excluding bids of exactly £5k wouldn't be particularly honourable. I'm sure the team mean, and will honour, £5k and above. So obviously that includes bids that cumulatively come to a total of £5k too? Ie two bids of £2.5k each. That's good to hear.
|
|
|
|
Post by andrewholgate on Aug 20, 2014 10:57:43 GMT
For clarity, it should read £5000 and above. If you bid £4999.99 you don't get it, if you bid £5000 or more you do.
|
|
pikestaff
Member of DD Central
Posts: 2,187
Likes: 1,546
|
Post by pikestaff on Aug 20, 2014 12:30:34 GMT
The email I got this morning promoting the cashback says "bids of £5,000 and above..."
|
|
