jonah
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Post by jonah on Jun 12, 2016 8:24:39 GMT
154 gone to 0% so i guess repaying today, need homes for money  My GBBA has bailed out of this one... That will be another* 1m+ looking for a home. I hope that the suggested ramp** up starts to materialise soon as the QAA queue has to be getting bigger! * total loan, not my account. ** just spotted a 0.5m loan draw down last week.... So there is some progress. Not a loan I was targeting directly nor GBBA eligible though.
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agent69
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Post by agent69 on Jun 12, 2016 8:26:39 GMT
154 gone to 0% so i guess repaying today, need homes for money Just looking down the list of live loans there's about £5m showing as 1 repayment remaining. There's going to be a whole lot more looking for a home soon.
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jonah
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Post by jonah on Jun 12, 2016 8:41:42 GMT
154 gone to 0% so i guess repaying today, need homes for money Just looking down the list of live loans there's about £5m showing as 1 repayment remaining. There's going to be a whole lot more looking for a home soon. Including the first 1m out of the 2m for the trade loans. I suspect if that doesn't go smoothly the other 4 loans will follow suit... Effectively adding another million on to the possible 'need a home' list. I have a small amount in the final tranche so looking forward to clarity here.
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Post by chris on Jun 12, 2016 9:10:42 GMT
The quality of questions on 282 , never mind the answers, shows how the q&a features can be a real star in the overall lending approach. Well done to that lender (and AC for sticking with that feature which I imagine is quite resource intensive for them) Absolutely - regardless of whether or not we would have caught it our lenders did during their due diligence, and giving lenders that opportunity is absolutely a part of our process and something I personally expect to always feature as part of our offering.
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kermie
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Post by kermie on Jun 12, 2016 9:36:15 GMT
154 gone to 0% so i guess repaying today, need homes for money I think it's simply come to the end of the planned repayments (due yesterday), that's all...and it has automatically reset to 0%. The sell off is also automatic due to the 0% rate because this no longer meets the QAA/GBBA criteria. chris you may want to consider adding special logic to avoid massive auto sell offs at 0% since that is almost certainly unintended.
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Post by chris on Jun 12, 2016 9:37:49 GMT
154 gone to 0% so i guess repaying today, need homes for money I think it's simply come to the end of the planned repayments (due yesterday), that's all...and it has automatically reset to 0%. The sell off is also automatic due to the 0% rate because this no longer meets the QAA/GBBA criteria. chris you may want to consider adding special logic to avoid massive auto sell offs at 0% since that is almost certainly unintended. It's not unintended but may be undesirable so I'll review with the rest of the team.
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SteveT
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Post by SteveT on Jun 13, 2016 9:03:13 GMT
154 gone to 0% so i guess repaying today, need homes for money Now back up to 13%
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duck
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Post by duck on Jun 13, 2016 9:33:54 GMT
154 gone to 0% so i guess repaying today, need homes for money Now back up to 13% ..... but my wife's GBBA has been selling it off for a few days* and it is due tomorrow. *now sitting as uninvested cash!
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Post by integrating on Jun 13, 2016 18:41:59 GMT
Slightly surprised to have a zero allocation of #289 which went live earlier today. OK, I wasn't asking for much, but I haven't achieved zero before. Is this loan a special case?
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Post by chris on Jun 13, 2016 19:32:26 GMT
Slightly surprised to have a zero allocation of #289 which went live earlier today. OK, I wasn't asking for much, but I haven't achieved zero before. Is this loan a special case? Drawdown and allocation are not synchronous events. It's up to the admin team when they allocate holdings to lenders, and the amount that they release when they do. A quick chat with the customer service team will give more specific details if needed.
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jonah
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Post by jonah on Jun 13, 2016 20:07:06 GMT
Slightly surprised to have a zero allocation of #289 which went live earlier today. OK, I wasn't asking for much, but I haven't achieved zero before. Is this loan a special case? Drawdown and allocation are not synchronous events. It's up to the admin team when they allocate holdings to lenders, and the amount that they release when they do. A quick chat with the customer service team will give more specific details if needed. my mlia has just had its modest request met. Nothing in GBBA which I was hoping for... But at least all the cash which was queuing into the QAA has now found a home.
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Post by chris on Jun 13, 2016 20:14:19 GMT
Drawdown and allocation are not synchronous events. It's up to the admin team when they allocate holdings to lenders, and the amount that they release when they do. A quick chat with the customer service team will give more specific details if needed. my mlia has just had its modest request met. Nothing in GBBA which I was hoping for... But at least all the cash which was queuing into the QAA has now found a home. Just taken a quick look and #289 doesn't meet the GBBA lending criteria.
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jonah
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Post by jonah on Jun 13, 2016 20:42:32 GMT
integrating my mlia has just had its modest request met. Nothing in GBBA which I was hoping for... But at least all the cash which was queuing into the QAA has now found a home. Just taken a quick look and #289 doesn't meet the GBBA lending criteria. That would explain that!  Do you mind clarifying what the gap is though? Less than 71% LTV, on property, more than 7% interest.... Is there another criteria?
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Post by chris on Jun 13, 2016 20:47:10 GMT
Just taken a quick look and #289 doesn't meet the GBBA lending criteria. That would explain that! Do you mind clarifying what the gap is though? Less than 71% LTV, on property, more than 7% interest.... Is there another criteria? We apply a slightly stricter mandate than that published just as we want to be sure of growth in the provision fund at a certain minimum rate (probabilistically), whilst maintaining the flexibility to be able to reduce the criteria that small amount at a later date without having to issue a series 2 account. So in this case it was just outside the LTV criteria for the rate. Had one or the other been a hair better it would have qualified.
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jonah
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Post by jonah on Jun 13, 2016 20:50:34 GMT
That would explain that! Do you mind clarifying what the gap is though? Less than 71% LTV, on property, more than 7% interest.... Is there another criteria? We apply a slightly stricter mandate than that published just as we want to be sure of growth in the provision fund at a certain minimum rate (probabilistically), whilst maintaining the flexibility to be able to reduce the criteria that small amount at a later date without having to issue a series 2 account. So in this case it was just outside the LTV criteria for the rate. Had one or the other been a hair better it would have qualified. Makes sense. I like a little 'spare' baked into certain figures so am not going to argue on this one. Would be nice to get something through which had a sizeable GBBA allocation but I'm sure something will be along. I think that 3 or 4 loans drawn down in the last few days.
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