victors
Member of DD Central
Posts: 157 
Likes: 86
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Post by victors on Sept 3, 2020 16:30:13 GMT
First for a long while.
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Post by Ton ⓉⓞⓃ on Sept 3, 2020 17:11:05 GMT
Thanks, #1281 investable now with £631,722.84 available
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Post by bradley02 on Sept 3, 2020 17:23:34 GMT
Thanks, #1281 investable now with £631,722.84 available
0.5% discount available to 9% new bridging loan £9k @ 0.5% discount currently
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rscal
Posts: 903
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Post by rscal on Sept 5, 2020 9:11:10 GMT
To be redeemed by unit sales during the term I assume?
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cb25
Posts: 3,521
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Post by cb25 on Sept 5, 2020 9:19:21 GMT
To be redeemed by unit sales during the term I assume? Credit Report 'Exit' section suggests it'll be via re-financing (AC or other) or sale of other assets
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criston
Member of DD Central
Posts: 1,204
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Post by criston on Sept 5, 2020 10:50:52 GMT
Did you get email notification on this one; I didn't ?
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iRobot
Member of DD Central
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Post by iRobot on Sept 5, 2020 10:55:23 GMT
Did you get email notification on this one; I didn't ? Yep - Thu, 3 Sep, 11:15 from enquiries@assetzcapital.co.uk with subject line "Upcoming loan - B*******l Limited - Residential Bridging Loan" Maybe check spam / junk folder and/or 'Communication Preferences' under your Assetz profile?
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criston
Member of DD Central
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Post by criston on Sept 5, 2020 11:05:58 GMT
Did you get email notification on this one; I didn't ? Yep - Thu, 3 Sep, 11:15 from enquiries@assetzcapital.co.uk with subject line "Upcoming loan - B*******l Limited - Residential Bridging Loan" Maybe check spam / junk folder and/or 'Communication Preferences' under your Assetz profile? No email for two accounts in household; nothing spammed & Marketing set to be informed of new loans.
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Post by korky on Sept 5, 2020 11:11:44 GMT
I was surprised to see so much available, as the whole loan had been up taken by underwriters in a couple of hours.
Online chat mentioned, that all underwriters must compulsory sell 50% of their allocation on the secondary market.
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puddleduck
Member of DD Central
Posts: 537
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Post by puddleduck on Sept 5, 2020 11:22:12 GMT
I was surprised to see so much available, as the whole loan had been up taken by underwriters in a couple of hours.
Online chat mentioned, that all underwriters must compulsory sell 50% of their allocation on the secondary market. Don't forget the Access Accounts are not investing in new loans, so availability is higher than usual. I personally think it's a mistake for the Access Accounts not to invest, the margin between the Access Accounts interest rates and the loan headline rate is circa 5% - all of which would flow into the provision fund if the AA's co-invested.
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criston
Member of DD Central
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Post by criston on Sept 5, 2020 12:21:40 GMT
Does AC take the 0.9% pa administration fee on new loans as well as old loans ?
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dead-money
Rocket to the Moon
Posts: 736
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Post by dead-money on Sept 5, 2020 12:51:31 GMT
To be redeemed by unit sales during the term I assume? Credit Report 'Exit' section suggests it'll be via re-financing (AC or other) or sale of other assets This is actually the third time the borrowers have refinanced with AC.
It's a retained interest loan, so the borrowers rollover exist £500K owed, take out another £500K and pay AC £30K in fees and interest, all without any income stream going back to AC. Presumably at some point the music will stop?
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dead-money
Rocket to the Moon
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Post by dead-money on Sept 5, 2020 12:53:42 GMT
Does AC take the 0.9% pa administration fee on new loans as well as old loans ? No reason to think otherwise, subject to an announcement to the contrary.
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criston
Member of DD Central
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Post by criston on Sept 5, 2020 13:07:08 GMT
I note their terms state the fee will be taken for at least 3 months starting 1/5/20.
They are still taking 0.075% per month.
I think they are making the most of it, probably enjoying all the benefits the government have offered at the same time.
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dead-money
Rocket to the Moon
Posts: 736
Likes: 645
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Post by dead-money on Sept 5, 2020 13:09:31 GMT
I note their terms state the fee will be taken for at least 3 months starting 1/5/20. They are still taking 0.075% per month. I think they are making the most of it, probably enjoying all the benefits the government have offered at the same time. Stuart will be along shortly to explain that 3 months is actually a year and you've misinterpreted that email. /s
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