SteveT
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Post by SteveT on Feb 24, 2016 22:38:59 GMT
Dont seem to have had any direct communication on this, email etc, but #163 P**** P**** has been suspended for 48hrs due to a minor covenant breach and all investment instructions disabled to allow lenders to read info. Covenant has been waived and borrower has explained reason - trading business moved premises - so not considered an issue by AC , if not all trading suspensions (and associated disabling of investment instructions) are going to be communicated with an email, then there needs to be a visual indication in the "Live Loans" page that an investment target remains paused after the suspension has been lifted. Sticking the word "Paused" in the "Your Instruction" column would do the trick. I returned from holiday a few days ago and only by chance noticed that an investment target was still paused on a loan that had been suspended only briefly while I was away. I forget which it was (and can't be certain whether there was an email for that one) but this example highlights the problem. Thanks.
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Post by Ton ⓉⓞⓃ on Feb 25, 2016 22:31:13 GMT
There was an email about the LTV of one of the upcoming loans being tweaked, in case I wanted to reset my target It confused me for a while as it didn't have a loan number, but as there isn't one assigned I guess that makes sense  Anyway C*** P**** L**** (G*** D****) is the one to tweak if you feel it is appropriate. I suppose the email only went out to Lenders who had set a target, I've only done that for one so far out of the 40 on the list. As you say there are no loan numbers for most the Upcomers, but where they don't have a name they do have pipeline numbers, for instance the most recent one added at the top of the list has this address: www.assetzcapital.co.uk/loans/view-pipeline/938 So this one is 938, That seems to disappear when a name is given. I can't work out which one you're referring to, can I ask if the adjustment increased or decreased the rate at all if you noticed?
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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 Feb 25, 2016 22:52:38 GMT
There was an email about the LTV of one of the upcoming loans being tweaked, in case I wanted to reset my target It confused me for a while as it didn't have a loan number, but as there isn't one assigned I guess that makes sense Anyway C*** P**** L**** (G*** D****) is the one to tweak if you feel it is appropriate. I suppose the email only went out to Lenders who had set a target, I've only done that for one so far out of the 40 on the list. As you say there are no loan numbers for most the Upcomers, but where they don't have a name they do have pipeline numbers, for instance the most recent one added at the top of the list has this address: www.assetzcapital.co.uk/loans/view-pipeline/938 So this one is 938, That seems to disappear when a name is given. I can't work out which one you're referring to, can I ask if the adjustment increased or decreased the rate at all if you noticed? Its the one with GDL in the last column of my Pipeline list, Bridging loan, 2nd from top, LTV has increased from 19% to 25% I think.
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mikes1531
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Post by mikes1531 on Feb 26, 2016 18:51:03 GMT
Anyway C*** P**** L**** (G*** D****) is the one to tweak if you feel it is appropriate. I can't work out which one you're referring to, can I ask if the adjustment increased or decreased the rate at all if you noticed? Its the one with GDL in the last column of my Pipeline list, Bridging loan, 2nd from top, LTV has increased from 19% to 25% I think. The closest to these descriptions that I see has a title of C*** B*** L*** (G*** D***). Is that the one? If so, it's now risen to the top of the list, has been numbered #234, and is expected to draw down on Monday.
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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 Feb 26, 2016 19:05:32 GMT
Anyway C*** P**** L**** (G*** D****) is the one to tweak if you feel it is appropriate. Its the one with GDL in the last column of my Pipeline list, Bridging loan, 2nd from top, LTV has increased from 19% to 25% I think. The closest to these descriptions that I see has a title of C*** B*** L*** (G*** D***). Is that the one? If so, it's now risen to the top of the list, has been numbered #234, and is expected to draw down on Monday. That was my assumption. LTV definarely 6% higher
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jonah
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Post by jonah on Feb 26, 2016 19:09:52 GMT
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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 Mar 4, 2016 15:12:22 GMT
#167/168 the two F******* Hotels temporarily suspended to allow lenders to digest a covenant breach.
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mikes1531
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Post by mikes1531 on Mar 4, 2016 17:13:34 GMT
#167/168 the two F******* Hotels temporarily suspended to allow lenders to digest a covenant breach. Today's activity update for these loans includes... If AC's maths calculating whether or not a covenant has been breached are as bad as the above... Can we rely on them?
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Post by andrewholgate on Mar 4, 2016 18:51:12 GMT
#167/168 the two F******* Hotels temporarily suspended to allow lenders to digest a covenant breach. Today's activity update for these loans includes... If AC's maths calculating whether or not a covenant has been breached are as bad as the above... Can we rely on them? I'm sorry about that. This is my mistake and pretty basic one. I can personally assure you everything else is correct.
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mikes1531
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Post by mikes1531 on Mar 4, 2016 23:00:45 GMT
If AC's maths calculating whether or not a covenant has been breached are as bad as the above... Can we rely on them? I'm sorry about that. This is my mistake and pretty basic one. I can personally assure you everything else is correct. : It's very good of you to admit this. And to reassure us that the rest of the calculations are correct. Enjoy your weekend.
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jonah
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Post by jonah on Mar 7, 2016 15:48:52 GMT
238 has drawn down. Nice to see a middle of the afternoon one. Also nice to see one which didn't have a single draw down deferral!
Well done AC.
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jonah
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Post by jonah on Mar 7, 2016 17:40:22 GMT
For some reason there are quite a few parts of quite a lot of loans. Someone doing some fairly serious spring cleaning?
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mikes1531
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Post by mikes1531 on Mar 7, 2016 22:08:58 GMT
For some reason there are quite a few parts of quite a lot of loans. Someone doing some fairly serious spring cleaning? Raising funds to cover scheduled bids for this week's drawdowns? (£300k today, plus another £1.17M by Wednesday.)
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Post by Ton ⓉⓞⓃ on Mar 8, 2016 10:09:54 GMT
For some reason there are quite a few parts of quite a lot of loans. Someone doing some fairly serious spring cleaning? Raising funds to cover scheduled bids for this week's drawdowns? (£300k today, plus another £1.17M by Wednesday.) I'm wondering if being about exactly a month before the end of the tax year one or more people aren't forward planning a little. Also the selling is quite wide, I picked up some very rarely traded loans. Such as; Coventry Commercial Property (46) £86.
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ianj
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Post by ianj on Mar 8, 2016 11:50:39 GMT
For some reason there are quite a few parts of quite a lot of loans. Someone doing some fairly serious spring cleaning? Raising funds to cover scheduled bids for this week's drawdowns? (£300k today, plus another £1.17M by Wednesday.) I had intended to make a number of sales in order to fund upcoming loan opportunities, but in order to ensure sale proceeds are preserved for the new loans I would have to amend 30+ existing invest instructions, then change them back after drawdown. This is long past being merely an irritation, now that loan flow has improved it's a @*****! PITA.  I know this is a very old chestnut, and, keeping things in perspective, we've been told that it will be addressed at some point. The essential property of the point of perspective, however, is that it's always on the horizon, never gets closer. Perhaps chris could provide the latest forecast.
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