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Post by Ton ⓉⓞⓃ on Sept 30, 2014 16:30:24 GMT
5y, £340k, ltv59%, rate12%
7yo business, debt reduction exercise.
Auction starts....
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oldgrumpy
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Post by oldgrumpy on Sept 30, 2014 16:33:22 GMT
eh? wot? can't find it. as it gon?
Ah...found it.
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Post by Ton ⓉⓞⓃ on Sept 30, 2014 16:35:01 GMT
eh? wot? can't find it. as it gon? It's in the freezer section next to the bananas, oops should've said 'Upcoming' It's almost fully underwritten so nearly gone IN EDIT. Nice to see several u/wers (12) I imagine all different, the biggest single investment being 32k. So you too can be safe as an underwriter IMO.
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smee
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Post by smee on Sept 30, 2014 16:40:29 GMT
Very good reviews on Trip Advisor
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oldgrumpy
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Post by oldgrumpy on Sept 30, 2014 16:44:02 GMT
Underwritten yes, but we can't even bid until the auction starts, max £5000. Not much good telling us £5000 max, then letting a few underwriters just take the lot before the auction.  |
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spockie
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Post by spockie on Sept 30, 2014 16:45:16 GMT
Underwritten yes, but we can't even bid until the auction starts, max £5000. Not much good telling us £5000 max, then letting a few underwrites just take the lot before the auction. Surely the idea is that we will bid them out?
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Post by Ton ⓉⓞⓃ on Sept 30, 2014 16:48:01 GMT
Underwritten yes, but we can't even bid until the auction starts, max £5000. Not much good telling us £5000 max, then letting a few underwriters just take the lot before the auction. I've put in a pre-bid of £20, mainly to see if I was first. We're still awaiting the full credit report. But I think we can guess the rest...
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oldgrumpy
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Post by oldgrumpy on Sept 30, 2014 16:48:56 GMT
Underwritten yes, but we can't even bid until the auction starts, max £5000. Not much good telling us £5000 max, then letting a few underwrites just take the lot before the auction. Surely the idea is that we will bid them out? So why the maximum? Didn't think there were maxima on the AM..... unless the underwriters no longer have to wait to fill a loan, but just pledge their funds in advance, then a normal auction still takes place.
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oldgrumpy
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Post by oldgrumpy on Sept 30, 2014 16:52:44 GMT
Underwritten yes, but we can't even bid until the auction starts, max £5000. Not much good telling us £5000 max, then letting a few underwriters just take the lot before the auction. I've put in a pre-bid of £20, mainly to see if I was first. We're still awaiting the full credit report. But I think we can guess the rest... I couldn't even see a prebid button. Is that only accessible via auto-invest now?
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Post by Ton ⓉⓞⓃ on Sept 30, 2014 16:59:49 GMT
I've put in a pre-bid of £20, mainly to see if I was first. We're still awaiting the full credit report. But I think we can guess the rest... I couldn't even see a prebid button. Is that only accessible via auto-invest now? Yes via auto-invest, AIUI it'll put in a prebid as soon as it can, that will then turn into a shadow bid when the auction opens proper. So I've not used a pre-bid button, tho' I've got it wrong before, putting in cash bids when I thought I was doing shad ones. IN EDIT I'm sure enough that I've got it right now.
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Post by batchoy on Sept 30, 2014 17:00:40 GMT
I've put in a pre-bid of £20, mainly to see if I was first. We're still awaiting the full credit report. But I think we can guess the rest... I couldn't even see a prebid button. Is that only accessible via auto-invest now? I agree it appears pre-bidding has not been activated for this or the new wind turbine deal (143) the only active option is AI mandates. Which begs the question (and I can't be bothered to look to see if it it has been answered) do AI mandates work like pre-pre-bids and generate a queue or is it a potluck sequence for AI mandates turning into pre-bids if pre-bidding is activated prior to the auction.
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oldgrumpy
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Post by oldgrumpy on Sept 30, 2014 17:04:35 GMT
I seem to recall that a while back some people had prebids set on their AI and these were not acted on. they subsequently put in manual prebids. That may have been resolved now.
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baz657
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Post by baz657 on Sept 30, 2014 17:25:57 GMT
My AI has a tick box for shadow bids when using the advanced options, or is that not what everybody means?
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kermie
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Post by kermie on Sept 30, 2014 18:23:50 GMT
My AI has a tick box for shadow bids when using the advanced options, or is that not what everybody means? I have done the same. I suspect this one will be popular. Yes, IVA, but long-term (5 years) at 12% are now quite rare on AC. Given AI can be set-up to bid automatically when the auction starts - how will AC deal with the potential case where the AI demand for shadow (or real bids) cannot be satisfied at the start of the auction (given pre-bids are not enabled for this one) - will it allocate proportionally, or will some lenders just lose out? chris - how would that work?
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Post by batchoy on Sept 30, 2014 18:25:25 GMT
My AI has a tick box for shadow bids when using the advanced options, or is that not what everybody means? Not quite if you look at the one of the reverted loans such as London Software you will see the pre-bid tab and button and if you prebid/AI bid with the pre-bid option you will see pre-bids listed on your summary page. In this instance and most of the rest of the auctions on preview, pre-bids are inactive so even if you setup an AI mandate with pre-bids you won't see any pre-bids listed on your summary page.
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