dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Jan 12, 2022 15:45:32 GMT
#1514 available. 6xm Bridge of £1,013,324.00. 6.7% lenders, 9.6 AC. 64.54ltv.
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ton27
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Post by ton27 on Jan 12, 2022 16:35:00 GMT
It seems from the CR that AC financed the original loan but I cannot find it in current live loans - any clues?
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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 Jan 12, 2022 18:10:55 GMT
It seems from the CR that AC financed the original loan but I cannot find it in current live loans - any clues? Charges are from Nov 2020 and reading them the lender is Assetz Capital Lending which is the CBILS lending entity IIRC. Platform is also described as servicer not agent so not a P2P loan.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Jan 12, 2022 22:27:44 GMT
It seems from the CR that AC financed the original loan but I cannot find it in current live loans - any clues? Charges are from Nov 2020 and reading them the lender is Assetz Capital Lending which is the CBILS lending entity IIRC. Platform is also described as servicer not agent so not a P2P loan. So can someone explain this to me (simply if possible) So is this a AC cbils loan now a bridge in AC(p2p) If so is this the first? Thankyou
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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 Jan 12, 2022 22:46:20 GMT
Charges are from Nov 2020 and reading them the lender is Assetz Capital Lending which is the CBILS lending entity IIRC. Platform is also described as servicer not agent so not a P2P loan. So can someone explain this to me (simply if possible) So is this a AC cbils loan now a bridge in AC(p2p) If so is this the first? Thankyou So it would seem. A CBILS funded development with retail now getting the considerably derisked post completion sales period. There have been a couple of others that were retail & CBILS but not aware of any that were solely CBILS moving to retail. Expect there will be others as the govt schemes wind down
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dave4
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Post by dave4 on Jan 12, 2022 22:59:01 GMT
So can someone explain this to me (simply if possible) So is this a AC cbils loan now a bridge in AC(p2p) If so is this the first? Thankyou So it would seem. A CBILS funded development with retail now getting the considerably derisked post completion sales period. There have been a couple of others that were retail & CBILS but not aware of any that were solely CBILS moving to retail. Expect there will be others as the govt schemes wind down I did think this was the first Cbils only to retail. Thankyou ilmoro that is a perfectly dumbed down answer.
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trium
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Post by trium on Jan 18, 2022 9:25:07 GMT
Not finding much reason for optimism at the moment. Access accounts still denying access for investments , little opportunity in the MLA, very difficult to remain invested. I only seem to get full allocation of requested amounts, even using two accounts, if the loan is £1.5m+. Next 6 pipeline loans are of no interest due to low rate, high LTV or both. Ditto the loan currently in "Upcoming". Funds on platform more than 40% down on peak, solely due to lack of reinvestment opportunity. 7.5% of MLA in recovery.
Time for a long hard think.
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p2pfan
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Post by p2pfan on Jan 18, 2022 13:50:29 GMT
Not finding much reason for optimism at the moment. Access accounts still denying access for investments , little opportunity in the MLA, very difficult to remain invested. I only seem to get full allocation of requested amounts, even using two accounts, if the loan is £1.5m+. Next 6 pipeline loans are of no interest due to low rate, high LTV or both. Ditto the loan currently in "Upcoming". Funds on platform more than 40% down on peak, solely due to lack of reinvestment opportunity. 7.5% of MLA in recovery. Time for a long hard think. Yes, the situation sucks. Of the next six loans launching on AC, five of them are paying a mere 5%. Interest rates are down on many P2P platforms, but AC have slashed them massively, by a much higher rate than others. At a potential maximum 5% (very likely to be lower, as some won't pay back), I won't be loaning to those borrowers. At these minimal rates, it's not worth the hassle / headache and high risk of P2P lending. At the rate inflation we have now, by lending to these borrowers at 5% every single day one is losing money in real terms.
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Post by Ton ⓉⓞⓃ on Feb 28, 2022 20:46:31 GMT
Looking ahead to March, in specific, I can see 13 proposals/Loans in Pipeline, some lumped together but many spread throughout the month. It'll be interesting to see how many drawdown or get delayed. Six of them in the 6% or more range, that includes two at 7%. Otherwise rates of ~5%
One of the early ones in the month is a large internal refi of an NI shopping centre, where it seems AC has given them a lower rate to get(keep) the refi or lose it to a competitor (if I remember correctly)
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Post by df on Mar 30, 2022 20:42:29 GMT
Two "new" loans today, 1537 and 1538. 1537 looks very attractive - 5% to investors, risk category medium high, 75% LTV Don't know how many will go for an offer like this on MLA. Small loan, so will probably stay mainly in AA. If this kind of offerings become a new normal will the interest rate be sufficient for maintaining a healthy PF or will AA rates go down accordingly?
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ton27
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Post by ton27 on Mar 31, 2022 17:07:38 GMT
Not attractive for me and will be bidding minimal amount in MLA. AC have had much lower LTVs turn into disasters so 5%/75% will not do it for me.
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Post by Ton ⓉⓞⓃ on Mar 31, 2022 18:37:44 GMT
Four new proposals appeared today in Pipeline all being over 6+% , though one was at 0.00% - a bridge at 62%LtV so I'd guess over 6% (and only 6months!)
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ton27
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Post by ton27 on Apr 1, 2022 14:43:17 GMT
Not attractive for me and will be bidding minimal amount in MLA. AC have had much lower LTVs turn into disasters so 5%/75% will not do it for me. Just had another look at this loan. With a minimal investment I did not pay much attention to the detail but it is a good loan for AC. Not only do they take a 2.9% "monitoring fee" (as far as I can see there is not much monitoring which is usually evident when a loan goes sour) but there is also a 2% arrangement fee. May be this loan should have been in a different thread - AC with their noses in the trough
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trium
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Post by trium on Apr 2, 2022 17:30:14 GMT
And yet interest rates elsewhere are rising (Bank rate up, bonds down, fixed term deposit rates up, etc). Still too much cheap money sloshing around. Too much p2p cash looking for a home as well
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trium
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Post by trium on Apr 8, 2022 9:03:27 GMT
#1521 currently over 600k available in MLA. Only 5% though
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