duck
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Post by duck on Dec 13, 2015 12:33:54 GMT
Apologies for changing the subject but just noticed 152 W......... D.......... Ltd has gone to 0% interest. I noticed my overall % had dropped since I checked it yesterday. I also note my partners GBBA sold up at 1.53 am today.
This obviously predates the promised update on repayment ...... We continue to push for this and will provide lenders with further detail as soon as this is available or an update on progress by 18 December 2015.
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jonah
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Post by jonah on Dec 13, 2015 12:47:28 GMT
The post by duck above triggered a thought... there are 10 loans with 2 or less months less to go. Ok, two of these are suspended so may take a "while longer*" but the other 8 I assume will be on or around the timeline suggested... Taking just those 8, that makes just under £4.2 million due to be repaid within 2 months. Add in repayments of capital from other loans and interest etc and I hope that the suggested uplift which Chris / Stuart are suggesting is going to be happening in Q1 is as they expect.  There are now just 2 loans which have parts for sale... which is a record low from my, admittedly limited, perspective. * If ever, remember no guarantees in p2p, although obviously I hope they will provide cash in due course. |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 13, 2015 13:27:11 GMT
Apologies for changing the subject but just noticed 152 W......... D.......... Ltd has gone to 0% interest. I noticed my overall % had dropped since I checked it yesterday. I also note my partners GBBA sold up at 1.53 am today.
This obviously predates the promised update on repayment ...... We continue to push for this and will provide lenders with further detail as soon as this is available or an update on progress by 18 December 2015. Looks like someone forgot to add another phase so the system automatically drops the rate to 0 and the GBBA then dumps it as inelligible. I wouldnt read anything into it as far as repayment goes
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Post by chris on Dec 14, 2015 11:18:39 GMT
I have an official statement from one of the other directors regarding the recent vote on loan 165 - MCH, where lenders rejected the borrower's request to allow a second charge.
If people have any further questions then I'll try and field them as best I can.
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duck
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Post by duck on Dec 14, 2015 11:29:37 GMT
Apologies for changing the subject but just noticed 152 W......... D.......... Ltd has gone to 0% interest. I noticed my overall % had dropped since I checked it yesterday. I also note my partners GBBA sold up at 1.53 am today.
This obviously predates the promised update on repayment ...... We continue to push for this and will provide lenders with further detail as soon as this is available or an update on progress by 18 December 2015. Re-instated at 15% and update added.
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Post by Ton ⓉⓞⓃ on Dec 14, 2015 11:31:26 GMT
I have an official statement from one of the other directors regarding the recent vote on loan 165 - MCH, where lenders rejected the borrower's request to allow a second charge. If people have any further questions then I'll try and field them as best I can. So would the AC bid for the the new loan be better value (cheaper) as AC still hold the charges and understand the Borrower's situation.
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duck
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Post by duck on Dec 14, 2015 11:35:36 GMT
Thanks for the update on #165 chris, pleased to read ...good luck with the hat in the ring. No questions from me.
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Post by chris on Dec 14, 2015 11:37:27 GMT
I have an official statement from one of the other directors regarding the recent vote on loan 165 - MCH, where lenders rejected the borrower's request to allow a second charge. If people have any further questions then I'll try and field them as best I can. So would the AC bid for the the new loan be better value (cheaper) as AC still hold the charges and understand the Borrower's situation. I don't know, but it would reflect our latest pricing policy and we'd aim to be competitive.
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mikes1531
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Post by mikes1531 on Dec 14, 2015 14:43:54 GMT
I have an official statement from one of the other directors regarding the recent vote on loan 165 - MCH, where lenders rejected the borrower's request to allow a second charge. : Thanks for obtaining this input. The part of the statement that I've left above strikes me as rather understated. In this case, I'd be very surprised if most voters understood the ramifications of the vote going one way or the other. But that's JMHO. Meanwhile, I'm pleased to know that AC are considering trying to explain the likely consequences of the various possible vote outcomes in the future.
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ianj
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Post by ianj on Dec 21, 2015 13:22:35 GMT
Re Loan 86 - the 'Scottish loan'
With regard to the auction dated 17 Dec.
The auction house web-site is showing no indication that this property was sold on the 17th (other properties are marked as sold).
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mikes1531
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Post by mikes1531 on Dec 22, 2015 2:23:55 GMT
Re Loan 86 - the 'Scottish loan' With regard to the auction dated 17 Dec. The auction house web-site is showing no indication that this property was sold on the 17th (other properties are marked as sold). I thought the guide price was about £115k I considered asking about the auction results in the Q&A, then noticed AC had said they'd provide an update by 22/Dec so decided to wait and see if they did what they promised. We'll find out later today.
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ianj
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Post by ianj on Dec 22, 2015 8:39:35 GMT
Re Loan 86 - the 'Scottish loan' With regard to the auction dated 17 Dec. The auction house web-site is showing no indication that this property was sold on the 17th (other properties are marked as sold). I thought the guide price was about £115k I considered asking about the auction results in the Q&A, then noticed AC had said they'd provide an update by 22/Dec so decided to wait and see if they did what they promised. We'll find out later today. From an earlier post The first auction reference I found for the loan property, and I'm fairly certain the same one that others commenting here have seen, was described as: But....there is no auction date on the auction details, the Lot No. on this does not occur in any recent catalogue, 9/10 Dec, and this auction house has no further entries in their calendar until Feb. So I looked further and found this, same address, with another auction house, going under the hammer on 17 Dec. Auction catalogue here does not show the relevant lot as 'sold'. Edit: As I also said in my post from 10th Dec, AC's updates make no mention of an intention to sell all seven flats, rather that he was 'looking to sell assets to reduce overall debt and ongoing servicing costs. In order to do this he has contacted an Auction House to progress these sales'.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 23, 2015 0:41:58 GMT
#198 suspended due to issues with tenant of security. Tenant being liquidated due to WUP from HMRC due to debt owed by previous tenant. Newco being set up to takeover trading of tenant and will take over lease. No impact expected, loan not in default, suspension to be lifted Christmas Eve. No info avaliable until Jan so Ac suggest no Qs until then.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 23, 2015 0:44:44 GMT
I thought the guide price was about £115k I considered asking about the auction results in the Q&A, then noticed AC had said they'd provide an update by 22/Dec so decided to wait and see if they did what they promised. We'll find out later today. From an earlier post The first auction reference I found for the loan property, and I'm fairly certain the same one that others commenting here have seen, was described as: But....there is no auction date on the auction details, the Lot No. on this does not occur in any recent catalogue, 9/10 Dec, and this auction house has no further entries in their calendar until Feb. So I looked further and found this, same address, with another auction house, going under the hammer on 17 Dec. Auction catalogue here does not show the relevant lot as 'sold'. Edit: As I also said in my post from 10th Dec, AC's updates make no mention of an intention to sell all seven flats, rather that he was 'looking to sell assets to reduce overall debt and ongoing servicing costs. In order to do this he has contacted an Auction House to progress these sales'. Update Only 2 flats being auctioned, didnt sell 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 4, 2016 17:50:33 GMT
Few pertinent post Xmas updates #68 CC L - Probably redeeming residual loan tomorrow #45 L Com Prop - payment not made & buffer exhausted, formal update tomorrow #150 Ptech - expecting to redeem imminently and last (missed) payment to be included in that #123 NLCP - payment short by £50 so presumably from the buffer, though as usual AC havent deemed it necessary to mention in updates (yet), cue inevitable question. 6 months now since AC stopped charging default interest on proviso that buffer was at 2 months and borrower would offer proposals to bring it to 3 and pay default interest. Since then deathly silence from borrower proposalswise and 4 months at less than a months buffer  |
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