ptr120
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Post by ptr120 on Jun 18, 2019 21:13:40 GMT
Hi ablrate I'm sure that you think that bid limits aren't required considering that this will be the first of a series of tranches but please can I urge you to consider bid limits as a not to your previous comments? Even if the limit were only £5000 for the first 24 hours I think it'd be a good standard practice to have - even on the bigger opportunities like this may be. On that note, it would be helpful to know likely future funding requirements (although appreciate this may already be in the proposal when it comes tomorrow).
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Post by ablrate on Jun 19, 2019 7:55:31 GMT
Hi ablrate I'm sure that you think that bid limits aren't required considering that this will be the first of a series of tranches but please can I urge you to consider bid limits as a not to your previous comments? Even if the limit were only £5000 for the first 24 hours I think it'd be a good standard practice to have - even on the bigger opportunities like this may be. On that note, it would be helpful to know likely future funding requirements (although appreciate this may already be in the proposal when it comes tomorrow). The borrowing proposal will give details, but if there is large demand we will consider increasing or bid limits.
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corto
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one-syllabistic
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Post by corto on Jun 19, 2019 8:51:48 GMT
Hi ablrate I'm sure that you think that bid limits aren't required considering that this will be the first of a series of tranches but please can I urge you to consider bid limits as a not to your previous comments? Even if the limit were only £5000 for the first 24 hours I think it'd be a good standard practice to have - even on the bigger opportunities like this may be. On that note, it would be helpful to know likely future funding requirements (although appreciate this may already be in the proposal when it comes tomorrow). The borrowing proposal will give details, but if there is large demand we will consider increasing or bid limits. Hi. Where do you see upcoming loans on the webpages?
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Post by simert on Jun 19, 2019 8:53:56 GMT
Under "Available Loans" but you'll have to wait until 11am to see this one.
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nw99
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Post by nw99 on Jun 19, 2019 9:49:05 GMT
I do not think we need a bid limit, loans are not filling quickly at all .
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Post by darren on Jun 19, 2019 10:10:17 GMT
Small typo on the listing. I think the postcode should be HU8 8DL.
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gibmike
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What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Jun 19, 2019 10:11:29 GMT
nw99 I think it depends on the perceived quality of the loan. I could see this going in 4-5 hours if good or 2-3 weeks if not.
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sapphire
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Post by sapphire on Jun 19, 2019 10:54:35 GMT
Per the calcs below it appears that the *first charge* LTV (i.e. ignoring the second charge & personal guarantees) would be 56.45% at the start when the first tranche of the ablrate is drawn and increases to 86.02% when the max £4m ablrate loan is drawn by Jan 20 (per the model), assuming the value of the first charge security remains unchanged then. ablrate , any gaps in my understanding? Is the value of the first charge security expected to change significantly between now and Jan 20? Calcs: June 19: Current Loan from PB: £2.125m Ablrate Loan: £0.5m Total £2.625m First Charge asset value: £4.65m so First charge LTV = 2.625/4.65 = 56.45% Jan 20: Loan from PB: £Nil Ablrate Loan: £4m Total £4m Assuming first Charge asset value remains £4.65m, first charge LTV = 4/4.65 = 86.02%
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SteveT
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Post by SteveT on Jun 19, 2019 11:33:26 GMT
ablrate, is there a Plan B if future tranches are not taken up as hoped by Ablrate lenders? Page 18 of the Borrowing Proposal identifies this as a risk (“Multiple tranches not raising the funds sought may result in the Borrower not being able to complete all the work required or necessary to achieve the business plan set out in this document“) but the Mitigation paragraph that follows doesn’t really address what then would be envisaged / pursued? Thx.
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macq
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Post by macq on Jun 19, 2019 12:30:35 GMT
ablrate , is there a Plan B if future tranches are not taken up as hoped by Ablrate lenders? Page 18 of the Borrowing Proposal identifies this as a risk (“Multiple tranches not raising the funds sought may result in the Borrower not being able to complete all the work required or necessary to achieve the business plan set out in this document“) but the Mitigation paragraph that follows doesn’t really address what then would be envisaged / pursued? Thx. Not had time to read properly but that was One of the things worrying me especially if there is some of an old tranche at a discount on the SM so hopefully the borrower is aware there is no guarantee?
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Post by dan1 on Jun 19, 2019 12:34:05 GMT
Does anyone possess (or could generate) a chart of capital outstanding over time to this borrower, AF? I'd like to see how the borrowing has ramped up over time but it's complicated by amortising payments.
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Post by Deleted on Jun 19, 2019 13:00:29 GMT
My concerns are
1) It's that man again
2) This corner of Hull (the term "Kingston upon Hull" exists only in the minds of some Hull councillors) is a waste-land of indecision, not just a waste-land. Under at least one P2P loans, there was going to be a luxury hotel built within a few feet of this unit (now shelved). There has been a luxury hotel (for Hull) Premier Inn built within a few hundred metres of this site (it looks nice from the outside).
3) The issue of flooding in this area is always moot, I haven't checked the local Env Agency map but since a large part of Hull flooded only in the last 10 years in areas where the Env Agency said flooding was impossible I'm always doubtful. The large lead shot tower (again within a few hundred metres of this) is no longer used. While the council buildings (and the wealthy) are upwind of this proposed incinerator, a large number of UK citizens will live to the east of it. Now I know that modern incinerators do not make cancer-causing gases, but local nimbies are fighting back against these things all the time.
4) Anyone else ever tried to get to this area by truck or car? It is fraught with access issues.
5) Access to the site by water would need to go up the river Hull... Now I'm no expert but is it seven bridges they need to go under on a tide influenced river (I think it is still tidal, maybe not). Some of those bridges can rise, some not. If they rise they cut off East Hull from West Hull. Oh boy, that will go down well with the local voters.
6) Waste from London by barge. :-)))
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dovap
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Post by dovap on Jun 19, 2019 13:46:19 GMT
great time saver when your already exposed enough to an individual borrower -
Hull or Lytham - which is the greatest graveyard of p2p loans ?
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Post by Deleted on Jun 19, 2019 16:51:15 GMT
Sitting outside with a glass of wine I just noticed that the out of date planning document that is included in the pack states
"14) The site/premises, in whole or in part, shall not be used for waste disposal or incineration purposes (in the interest of amenity and to comply with policy ME2 of the Local Plan)"
Interesting to see that included.
I'm going to guess ME2 has been superseded. Who knows?
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Post by ablrate on Jun 19, 2019 17:01:39 GMT
great time saver when your already exposed enough to an individual borrower - Hull or Lytham - which is the greatest graveyard of p2p loans ? Over 3 years borrowed £9.4 mn though various projects - paid back (including amortisation) £4.7 mn (including £3.08 mn matured loans)- Good LTV across all remaining as security and each loan individually secured... never missed an instalment payment or failed to pay the capital.
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