ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 1, 2021 20:09:16 GMT
So the AA didnt fund this loan it would appear as no holding in it - probably explains the lack of movement in the Qs.
Interesting they have picked up some of the previous two loans.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 2, 2021 12:16:57 GMT
The other loan now in Upcoming so will be interesting to see if AA hold this one when it goes live.
Personally looks uninvestable by MLA lenders as the supporting documents are 15 months old and predate the pandemic so no reliance can be placed on them as accurate given the sector the asset operates in.
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Post by Ton ⓉⓞⓃ on Jul 2, 2021 14:52:47 GMT
So the AA didnt fund this loan it would appear as no holding in it - probably explains the lack of movement in the Qs. Interesting they have picked up some of the previous two loans.
Interesting. The total for MLA holding the day before it drew was £73mm, the day it drew that figure then went to £75mm. It was roughly a £2.6mm loan. So perhaps an Underwriter/Lender.
Having said that MLA is now down to £72mm ...
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 5, 2021 13:14:02 GMT
The AA accounts now have holdings in both recent loans so new lending has officially begun. Absolutely no impact on my funds queued to enter. chris How is the (still) invisible queue to enter determined? Presumably everyone who had funds returned by AC as part of the cash reduction should be at the same position in the queue as they entered it at the same time so is their actually a queue at all for this group or just a pool and everyone will get bits back in at the same time? Bit of transparency on the process would good now as nothing appears to be happening quickly
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 13, 2021 18:31:36 GMT
Small loan in the pipeline, due towards end of month
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Post by Ton ⓉⓞⓃ on Jul 16, 2021 21:53:07 GMT
Small loan in the pipeline, due towards end of month
All is revealed it's a refi of #289, no docs as yet.
The security has added another 50% and the second charge has gone. It's just hit 5years old as a loan. I wish my house had gone up 50%, perhaps something suppressed the first valuation five yrs ago. Had someone passed away??
Final repayment of the old loan is due 21/07/2021
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Post by df on Jul 17, 2021 9:16:29 GMT
Small loan in the pipeline, due towards end of month
All is revealed it's a refi of #289, no docs as yet.
The security has added another 50% and the second charge has gone. It's just hit 5years old as a loan. I wish my house had gone up 50%, perhaps something suppressed the first valuation five yrs ago. Had someone passed away??
Final repayment of the old loan is due 21/07/2021
Looks like the value of the farm increased by approx 20% (970k to 1.2m), which I think is more or less in line with an average property price increase in the past 5 years. I will investing in this one. Repayment record is good and the risk/rate balance is appropriate, I think. In pre-covid era I wouldn't touch any loans under 7% on MLA (unless discounted), but now 6% became a new normal.
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trium
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Post by trium on Jul 17, 2021 12:38:30 GMT
I will investing in this one. Repayment record is good and the risk/rate balance is appropriate, I think. In pre-covid era I wouldn't touch any loans under 7% on MLA (unless discounted), but now 6% became a new normal. Yes, I'm in the old one and I'll need somewhere to put the proceeds of redemption. Not much else around with availability at the moment. There are still plenty of 6% loans I'm not in (because I used to shun them) but getting in at the moment is difficult. I pick up an odd £ here and there but uninvested cash continues to accumulate
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 17, 2021 12:39:34 GMT
All is revealed it's a refi of #289, no docs as yet.
The security has added another 50% and the second charge has gone. It's just hit 5years old as a loan. I wish my house had gone up 50%, perhaps something suppressed the first valuation five yrs ago. Had someone passed away??
Final repayment of the old loan is due 21/07/2021
Looks like the value of the farm increased by approx 20% (970k to 1.2m), which I think is more or less in line with an average property price increase in the past 5 years. I will investing in this one. Repayment record is good and the risk/rate balance is appropriate, I think. In pre-covid era I wouldn't touch any loans under 7% on MLA (unless discounted), but now 6% became a new normal. Needs careful reading because on the basis of the current synopsis the security package seems to have changed significantly. The security appears to be in support of the PGs not the actual borrowing directly. The original second charge over the depot site is missing, replaced by a PG supported by a charge over a residential property. I would expect to invest as the current loan has been decent but need to understand that security package properly. Charges over residential properties have been an issue for AC.
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blender
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Post by blender on Jul 17, 2021 13:23:26 GMT
The value of the residential property is probably good, and we would have a first charge on it, but presumably only on enforcing the PG and limited to the guarantor's share of the value - which is presumably the £1.2M. Looks OK to me in principle.
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Post by Ace on Jul 17, 2021 16:53:43 GMT
Looks ok to me too, and I would put considerable store by the borrower's repayment record. However, 6% is too low for me on an AC MLA loan. I've been happy to lend on the MLA at 8% and over (after allowing for discounts where available), but I'm now withdrawing as payments come in.
My combined XIRR from AC is currently 10.17%. I expect this to fall a bit once some likely minor losses crystallise, though that will hopefully be offset by a fair bit I have left in the diamond loan. 6% is just too low for me when I can get more in CrowdProperty, Proplend, Kuflink and CapitalRise to name a few. I don't think 6% is a bad rate for this particular loan, its just not what I use AC's MLA for.
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corto
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Post by corto on Jul 17, 2021 17:22:39 GMT
Quite a bit of repayments coming in in the next 2 months for me (so they happen). 6% will not lure me back in the MLA.
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trium
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Post by trium on Jul 21, 2021 14:21:22 GMT
New pipeline loan appeared today - £1.3m bridging loan.
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p2pfan
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Post by p2pfan on Jul 21, 2021 17:12:14 GMT
Terrible news indeed: Assetz Capital accredited as Recovery Loan Scheme lender. As the Recovery Loan Scheme runs until at least 31st December 2021, it means P2P loans for retail lenders will continue to remain on the backburner for AC as the company prioritises doling out RLS loans. I don't understand why AC continues to have a listing on these forums in the section for major P2P platform when they have almost completely exited from P2P loan origination to retail lenders (with rare exceptions, such as the potential forthcoming loan mentioned in the previous post).
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 21, 2021 17:31:44 GMT
Terrible news indeed: Assetz Capital accredited as Recovery Loan Scheme lender. As the Recovery Loan Scheme runs until at least 31st December 2021, it means P2P loans for retail lenders will continue to remain on the backburner for AC as the company prioritises doling out RLS loans. I don't understand why AC continues to have a listing on these forums in the section for major P2P platform when they have almost completely exited from P2P loan origination to retail lenders (with rare exceptions, such as the potential forthcoming loan mentioned in the previous post). They are listed as a major platform based on forum activity not their activity.
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