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Post by Ton ⓉⓞⓃ on Dec 9, 2014 16:01:28 GMT
130k, 10%, 36months, ltv54%
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unmadem
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Post by unmadem on Dec 9, 2014 16:24:25 GMT
I think "soon" in title might be a tad optimistic 
business is "Sale & distribution of biomass pellets & LPG" . I wonder if it qualifies for GEIA or not ?
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Post by westcountryfunder on Dec 9, 2014 16:55:35 GMT
At a first glance looks distinctly speculative. OK until someone else jumps on the bandwagon locally to supply biomass pellets. Borrowing already from FC (unsecured admittedly) but looking potentially stretched if more borrowing taken on. I shall give this a miss unless they choose to seek less from AC, say £100k.
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mikes1531
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Post by mikes1531 on Dec 10, 2014 0:19:11 GMT
The thing I find interesting is at the top of the Overview tab... AC are worried that underwriters will cause a scrum trying to get a part of this 10% loan? And/or are afraid that underwriters will be disappointed that they don't get a chance to participate? Maybe the underwriters are getting hungry because AC hasn't had a lot to feed them lately. It does, of course, make me wonder what sort of fees/incentives underwriters get in order to produce such a demand to get into AC loans.  |
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bugs4me
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Post by bugs4me on Dec 10, 2014 10:04:49 GMT
The thing I find interesting is at the top of the Overview tab... AC are worried that underwriters will cause a scrum trying to get a part of this 10% loan? And/or are afraid that underwriters will be disappointed that they don't get a chance to participate? Maybe the underwriters are getting hungry because AC hasn't had a lot to feed them lately. It does, of course, make me wonder what sort of fees/incentives underwriters get in order to produce such a demand to get into AC loans. UW's are welcome to the scrum on this one as after reading the documentation I agree with westcountryfunder about the speculation. I suspect like many though, I'm beginning to wonder how to get a slice of loans that I am interested in. We do seem to be at 'the mercy' of how the UW's feel about releasing loan parts. I've got a couple of maturing loans soon that will either repay or go into default for a short while. Then it depends how much dead money I'm prepared to have sitting around waiting for a home to appear.
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bg
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Post by bg on Dec 10, 2014 11:42:45 GMT
You're not really at the mercy of the underwriters. Underwriters are only able to 'retain' a maximum of 50% of what they underwrite (odd exception like the large wind turbine aside) and typically they retain much less. For instance on this loan, out of the £130k only £19,500 is retained when the auction goes live.
I think the bigger problem is a lack of smaller-mid size loans than anything else.
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jonno
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nil satis nisi optimum
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Post by jonno on Dec 10, 2014 12:21:10 GMT
You're not really at the mercy of the underwriters. Underwriters are only able to 'retain' a maximum of 50% of what they underwrite (odd exception like the large wind turbine aside) and typically they retain much less. For instance on this loan, out of the £130k only £19,500 is retained when the auction goes live. I think the bigger problem is a lack of smaller-mid size loans than anything else. ; I'm sorry if i'm being a bit thick, but could you explain the relationship between the £130k and the £19,500 quoted above? Thanks
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bg
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Post by bg on Dec 10, 2014 12:22:42 GMT
£130k is the size of the loan. £19,500 is the amount 'retained' by the underwriters.
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jonno
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nil satis nisi optimum
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Post by jonno on Dec 10, 2014 12:28:10 GMT
£130k is the size of the loan. £19,500 is the amount 'retained' by the underwriters. Yes,I understood that bit.But why would underwriters only be allowed to retain £19,500 of a £130k loan.Thanks.
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bg
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Post by bg on Dec 10, 2014 12:29:23 GMT
They're allowed to retain up to 50% but have chosen to retain only £19,500.
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oldgrumpy
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Post by oldgrumpy on Dec 10, 2014 12:54:47 GMT
Is this figure of £19500 flagged up somewhere by AC? I would like to see if other prospective loans are also showing probable underwriter activity post-drawdown.
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jonno
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nil satis nisi optimum
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Post by jonno on Dec 10, 2014 13:10:47 GMT
Is this figure of £19500 flagged up somewhere by AC? I would like to see if other prospective loans are also showing probable underwriter activity post-drawdown. Thanks OG. That's precisely where I was heading with this.
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mikes1531
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Post by mikes1531 on Dec 10, 2014 20:09:13 GMT
£130k is the size of the loan. £19,500 is the amount 'retained' by the underwriters. They're allowed to retain up to 50% but have chosen to retain only £19,500. : Am I correct in assuming that you are an underwriter? And that the info you have shared with us is not generally available except to underwriters? If so, thank you. With respect to underwriters having chosen to retain only £19.5k of the £130k loan... Does this mean that the other £110.5k of this loan will be available on the Aftermarket as soon as the loan draws down? Or can the 'non-retained' loan parts be released over some period? If the latter, can you give us an idea of the length of time the parts can be released over? While specifics would be ideal, even generalities such as 'days', 'weeks' or 'months' would be helpful.
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bg
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Post by bg on Dec 10, 2014 22:49:02 GMT
£130k is the size of the loan. £19,500 is the amount 'retained' by the underwriters. They're allowed to retain up to 50% but have chosen to retain only £19,500. : Am I correct in assuming that you are an underwriter? And that the info you have shared with us is not generally available except to underwriters? If so, thank you. With respect to underwriters having chosen to retain only £19.5k of the £130k loan... Does this mean that the other £110.5k of this loan will be available on the Aftermarket as soon as the loan draws down? Or can the 'non-retained' loan parts be released over some period? If the latter, can you give us an idea of the length of time the parts can be released over? While specifics would be ideal, even generalities such as 'days', 'weeks' or 'months' would be helpful. Yes it will be available on the market on drawdown although I would think with this loan it will be bought instantly by auto bids so you would never actually see units available. Underwriters have no option in this regard, although they could auto bid themselves and pick up a portion of what hits the market. Point is, it's not underwriters holding units back but general lack of small-medium size loans on offer that is leading to a lack of loan stock and invistible opportunities.
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Post by davidricketts1 on Jan 28, 2015 13:29:17 GMT
Loan has now drawn down.
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