eeyore
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Post by eeyore on Feb 10, 2021 16:57:19 GMT
New 24-month loan for Birmingham O*** Refinance will be available on Thursday 11-Feb.
Tranche A only: £470k @ 6.7% gross LTV: 44%
This loan is to refinance the existing two-year loan, Birmingham O***, which was due to be redeemed on 7th Feb. The security is a first charge on a two-storey office building which has been converted to provide 24 individual office suites. See the full loan request and valuation report for details.
No option to roll-over investments from the previous loan, but Proplend suggest that the loan will still be filled entirely by Auto-Lend.
Update: The loan was repaid in full on Fri 10-Mar-2023 (with 16 days of Penalty interest)
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Post by uksoul on Feb 11, 2021 12:03:25 GMT
Seems Autolend filled the lot..
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eeyore
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Post by eeyore on Feb 11, 2021 12:03:43 GMT
As predicted, all gobbled within the first round of Auto-Lend - I didn't even get £1,000 invested.
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Post by uksoul on Feb 11, 2021 12:04:56 GMT
As predicted, all gobbled by the first round of Auto-Lend - I didn't even get £1,000 invested. Did you do auto-lend ?
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eeyore
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Post by eeyore on Feb 11, 2021 12:06:49 GMT
As predicted, all gobbled by the first round of Auto-Lend - I didn't even get £1,000 invested. Did you do auto-lend ? Yes! Obviously there were more than 470 offers waiting in Auto-Lend - others must have been disappointed too.
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 11, 2021 12:08:21 GMT
Yes! Obviously there were more than 470 offers waiting in Auto-Lend - others must have been disappointed too. Yep. Nothing for me 
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Post by uksoul on Feb 11, 2021 12:15:44 GMT
Yes! Obviously there were more than 470 offers waiting in Auto-Lend - others must have been disappointed too. Yes, others will be left disappointed..but i guess you will be among the first in line for the next Auto lend..
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morris
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Post by morris on Feb 11, 2021 13:59:23 GMT
Disappointed that I could not renew my loan in this property and I failed in auto-bid.
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eeyore
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Post by eeyore on Feb 11, 2021 14:52:35 GMT
Yes! Obviously there were more than 470 offers waiting in Auto-Lend - others must have been disappointed too. Yes, others will be left disappointed..but i guess you will be among the first in line for the next Auto lend.. That's some consolation, but what if I don't like the look of the next loan?!! Thinking ahead, if there were >470 lenders in Auto-Lend today, and there are a succession of "smaller" loans it's entirely possible some lenders may miss-out twice in a row. (Out of the seven currently pending loans, there are four of less than £300k available in TrancheA and only one larger than today's loan.)
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qwakuk
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Post by qwakuk on Feb 11, 2021 15:25:23 GMT
Feeling a bit guilty now, got a £1,000 for my ISA via Autolend
Was not in the loan originally and only started with them in the last few months
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Post by uksoul on Feb 11, 2021 15:37:43 GMT
Yes, others will be left disappointed..but i guess you will be among the first in line for the next Auto lend.. That's some consolation, but what if I don't like the look of the next loan?!! Thinking ahead, if there were >470 lenders in Auto-Lend today, and there are a succession of "smaller" loans it's entirely possible some lenders may miss-out twice in a row. (Out of the seven currently pending loans, there are four of less than £300k available in TrancheA and only one larger than today's loan.) That's a good point about maybe not wanting to invest in the next one. The case for a reduction in the 1k min will be stronger if people miss out a lot on auto lend. I think the next one is likely the HMO in Birmingham.
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Post by uksoul on Feb 11, 2021 15:39:07 GMT
Feeling a bit guilty now, got a £1,000 for my ISA via Autolend Was not in the loan originally and only started with them in the last few months Don't feel guilty
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qwakuk
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Post by qwakuk on Feb 11, 2021 16:48:02 GMT
Feeling a bit guilty now, got a £1,000 for my ISA via Autolend Was not in the loan originally and only started with them in the last few months Don't feel guilty Not feeling guilty really, need to get the cash invested somewhere
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morris
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Post by morris on Feb 12, 2021 8:15:06 GMT
Could anyone tell me if manual investment is no longer practical because of demand and the allocation to auto-invest? Does auto-investment get first dibs.
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Post by Ace on Feb 12, 2021 8:50:43 GMT
Yes, auto bid gets priority, but only runs on tranche-A currently. As this loan was tranche-A only nobody will have had any manual investment. You can manually invest in tranche-A in larger loans after all auto bids have been satisfied.
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