kermie
Member of DD Central
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Post by kermie on Nov 10, 2014 19:46:07 GMT
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 10, 2014 20:04:49 GMT
Any fool can lend but it takes an exceptional clever guy to get it all back plus interest. Only then should the accolades fly IMHO.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Nov 10, 2014 20:21:32 GMT
Any fool can lend but it takes an exceptional clever guy to get it all back... Indeed. Do you think rolling over H*ckn*y BL counts as additional lending?
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Post by bracknellboy on Nov 10, 2014 20:30:57 GMT
I recall that they pronounced that their target was to hit £100m by the end of this year. If I'm right that is a very significant under performance for the year. I can't recall where they were at the start of the year, but if it was order of £25m then that means they are likely to undershoot their 2015 new lending target by a very large amount. A shame.
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 10, 2014 21:29:12 GMT
Any fool can lend but it takes an exceptional clever guy to get it all back... Indeed. Do you think rolling over H*ckn*y BL counts as additional lending? Did they count it when they 'repaid' the initial loan and rolled it over into the 'extension' loan?
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Post by yorkshireman on Nov 10, 2014 21:39:34 GMT
Action speaks louder than words.
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Post by Ton ⓉⓞⓃ on Nov 10, 2014 21:54:56 GMT
Indeed. Do you think rolling over H*ckn*y BL counts as additional lending? Did they count it when they 'repaid' the initial loan and rolled it over into the 'extension' loan? My very rough notes taken as the old total changed say, | 15.5.14 | £26,387,245 | | 17.5.14 | £27,987,245 | | 17.5.14 | £28,087,245 | | 27.8.14 | £28,087,245 | | 28.5.14 | £28,690,745 | | 31.5.14 | £29,555,745 |
| 100k London law
| | 6.6.14 | £26,655,745 | | 8.6.14 | £30,075,745 | | 13.6.14 | ditto | | 24.6.14 | £33,055,745 | | 26.6.14 | £34,320,745 | | 28.6.14 | £35,385,745 | | 30.6.14 | £36,035,745 | | 1.7.14 | £36,285,745 | | 6.7.14 | 36285745? | | 8.7.14 | £37,455,745 | | 14.7.14 | ditto | | 18.7.14 | £37,790,745 |
| Liverpool Electric | | 23.7.14 | £38,125,745 | | 29.7.14 | £38,835,745 | | 31.7.14 | £40,000,745 | | 1.8.14 | £40,818,745 | | 6.8.14 | £40,818,745 | | 11.8.14 | £40,943,745 | | 22.8.14 | £42,562,745 | | 27.8.14 | £43,037,745 | | 3.9.14 | £43,362,745 | | 18.9.14 | £44,282,745 |
The figures are from the total counter that used to be on the old site The figures and dates are correct but making sense of them... Can Someone can work it out from this?
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kermie
Member of DD Central
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Post by kermie on Nov 10, 2014 22:04:49 GMT
Good info, Ton ⓉⓞⓃ. So about a year to get to £25M, then a further 6 months to get to double that to £50M. Many businesses would be delighted with that kind of growth. Yes, the £100M target will probably be missed, but it was rather ambitious. I think we can forgive Andrew H for being somewhat bullish at the lender's open day, don't you? ;-) |
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Nov 10, 2014 22:08:56 GMT
Good info, Ton ⓉⓞⓃ. So about a year to get to £25M, then a further 6 months to get to double that to £50M. Many businesses would be delighted with that kind of growth. Yes, the £100M target will probably be missed, but it was rather ambitious. I think we can forgive Andrew H for being somewhat bullish at the lender's open day, don't you? ;-) Part of his business is to sell, though I'm sure he was being genuine & sincere in thinking AC were going to hit that target come year end. it looks highly unlikely though, as many have highlighted. PS very well recorded info Ton ⓉⓞⓃ, you are our oracle on here 
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Post by Ton ⓉⓞⓃ on Nov 10, 2014 22:17:34 GMT
Okay the business hasn't grown in total loaned out as planned, but the business has & is growing in experience in playing with difficult loans that has delayed that growth. To be honest I prefer the later, growing in experience. I'm happy to forget the numbers for the moment, but I still want to see them grow at some point.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Nov 10, 2014 22:22:32 GMT
Okay the business hasn't grown in total loaned out as planned, but the business has & is growing in experience in playing with difficult loans that has delayed that growth. To be honest I prefer the later, growing in experience. I'm happy to forget the numbers for the moment, but I still want to see them grow at some point. Indeed, but we'd also like to see some activity in newer loans coming soon onto market. There's been a status quo in the last few weeks
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 10, 2014 22:35:42 GMT
Blizzard, Andrew is boasting about the "new website" allowing investors, the ones they really want presumably rather than us experienced investors, being able to invest in P2P on the site without choosing particular loans. Has he seen the current site? Does he ever talk to dev? #facepalm. It's almost as if the blog/press release was written well in advance -- when AC thought all three phases of the new website/system would be live by now -- and didn't bother to check it when they actually reached the £50M milestone. Pretty poor, if you ask me. I came very close to putting in a blog comment asking how to access this new 'set your criteria' feature since I couldn't find it, but decided it wasn't worth my time. If anyone else would care to do that, feel free -- I won't claim the patent on the idea! 
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bugs4me
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Post by bugs4me on Nov 10, 2014 22:52:04 GMT
Okay the business hasn't grown in total loaned out as planned, but the business has & is growing in experience in playing with difficult loans that has delayed that growth. To be honest I prefer the later, growing in experience. I'm happy to forget the numbers for the moment, but I still want to see them grow at some point. It was a heady projection but growth is growth and hopefully there's profit attached to it. Those defaults/extensions are obviously taking up a great deal of management time ATM and no doubt AC are looking at prospective BL's with exceptional DD. I'm sure it's been a learning curve especially the optimistic 6 month BL timetables but then again I do possess great hindsight. Back to those BL's, I'd still prefer them to go to a new loan rather than default interest which we may or may not receive at some stage. Once though the borrower(s) decide to throw the towel in and an LPA receiver is appointed then those LTV's may look a bit unsteady.
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jjc
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Post by jjc on Nov 12, 2014 10:12:27 GMT
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oldgrumpy
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Post by oldgrumpy on Nov 12, 2014 10:47:53 GMT
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