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 Mar 22, 2022 12:03:31 GMT
Monitor your accrued/owed interest and loans you can't sell, it's one metric that differentiates the best P2P companies from the worst.
That puts at least one popular platform on the worst list as you can't sell your loans & presumably any that do interest rolled up loans.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Mar 22, 2022 14:19:40 GMT
forum activity for AC has practically evaporated probably to AC's liking. AC say they have no intention to stop retail lending, that settles it then!
The risk/reward ratios are getting worse not better. 67% LTV and 5% interest based on the best case recovery scenario, the security drops by 50% for the worst case scenarios much less than the actual loan value. Never seen such a disparity. All in all another perfect loan for the blind accounts where there is no scrutiny and AC invest your money wisely.
Monitor your accrued/owed interest and loans you can't sell, it's one metric that differentiates the best P2P companies from the worst.
Over the next three years, Aros Kapital will invest a minimum of £750 million of funding for Assetz Capital to provide UK-based SMEs with property-backed loans, in addition to £350m already committed." - from here
Assetz Capital hates us retail lenders anyway, as they've demonstrated with one action after another in the last two years, and with this large institutional funding line they will have even more of an incentive to kick us grubby retail lenders to the kerb. The question is will they leave retail lending altogether in due course, as all the other large P2P lending networks have done?
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Post by overthehill on Mar 22, 2022 16:03:23 GMT
Monitor your accrued/owed interest and loans you can't sell, it's one metric that differentiates the best P2P companies from the worst.
That puts at least one popular platform on the worst list as you can't sell your loans & presumably any that do interest rolled up loans.
A good and bad list ? You know what I mean, I'm not going to explain it and if you don't, I'm still not going to explain it. You've always been a staunch defender of Assetzcapital.
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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
Posts: 11,316
Likes: 11,525
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Post by ilmoro on Mar 22, 2022 16:08:00 GMT
forum activity for AC has practically evaporated probably to AC's liking. AC say they have no intention to stop retail lending, that settles it then!
The risk/reward ratios are getting worse not better. 67% LTV and 5% interest based on the best case recovery scenario, the security drops by 50% for the worst case scenarios much less than the actual loan value. Never seen such a disparity. All in all another perfect loan for the blind accounts where there is no scrutiny and AC invest your money wisely.
Monitor your accrued/owed interest and loans you can't sell, it's one metric that differentiates the best P2P companies from the worst.
Over the next three years, Aros Kapital will invest a minimum of £750 million of funding for Assetz Capital to provide UK-based SMEs with property-backed loans, in addition to £350m already committed." - from here
Assetz Capital hates us retail lenders anyway, as they've demonstrated with one action after another in the last two years, and with this large institutional funding line they will have even more of an incentive to kick us grubby retail lenders to the kerb. The question is will they leave retail lending altogether in due course, as all the other large P2P lending networks have done? If AC are going to increase its annual lending to £1bn, (and then £1.5bn - CityAM) as stated then £250m will leave plenty of space for retail, even with other institutional lenders. Thats assuming of course that all the Aros money isnt utilised by govt backed schemes as with the previous £350m. Substantial increase in the pipeline recently
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Post by df on Mar 22, 2022 18:26:35 GMT
"Assetz Capital has announced the extension of its partnership with Nordic financing provider Aros Kapital.
Over the next three years, Aros Kapital will invest a minimum of £750 million of funding for Assetz Capital to provide UK-based SMEs with property-backed loans, in addition to £350m already committed." - from here
Assetz Capital hates us retail lenders anyway, as they've demonstrated with one action after another in the last two years, and with this large institutional funding line they will have even more of an incentive to kick us grubby retail lenders to the kerb. The question is will they leave retail lending altogether in due course, as all the other large P2P lending networks have done? If AC are going to increase its annual lending to £1bn, (and then £1.5bn - CityAM) as stated then £250m will leave plenty of space for retail, even with other institutional lenders. Thats assuming of course that all the Aros money isnt utilised by govt backed schemes as with the previous £350m. Substantial increase in the pipeline recentlyMost of them 5%-ers (and one even lower). I don't invest in anything below 6% on MLA, but I guess many people do - I wonder how popular 5% offerings will be in near future?
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Post by overthehill on Apr 22, 2022 11:27:16 GMT
Just noticed another raft of suspended bob the builder horlicks development loans in my MLA with adjusted capital valuations. How do they manage it, or maybe that's the problem they don't.
On top of the white elephants in the old business accounts for which they use investor's money to fund speculative recovery fishing trips to make up shortfalls and kick the can down the road rather than use a/the provision fund which may or may not exist.
You've been warned.
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ton27
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Post by ton27 on May 4, 2022 17:48:05 GMT
The loan for Gxxxxxxxx, currently being voted on is a prime example of AC benefiting at the expense of lenders. On the original 6/7month bridging loan AC will have had fees of £64k vs lender interest of £63k and if this is renewed for a further 4 months the total fees will be £91k vs £94k.....and this on a loan with an LTV of 74% which already weighs the risk against lenders
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Post by overthehill on May 4, 2022 18:39:49 GMT
The loan for Gxxxxxxxx, currently being voted on is a prime example of AC benefiting at the expense of lenders. On the original 6/7month bridging loan AC will have had fees of £64k vs lender interest of £63k and if this is renewed for a further 4 months the total fees will be £91k vs £94k.....and this on a loan with an LTV of 74% which already weighs the risk against lenders
Pure greed at zero risk with someone else's money. You can help other investors but you can't save them. I'm straddled across the exit door, all my remaining loans are < 50% LTV or suspended earning lots of fees for AC.
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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
Posts: 11,316
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Post by ilmoro on May 4, 2022 20:07:47 GMT
The loan for Gxxxxxxxx, currently being voted on is a prime example of AC benefiting at the expense of lenders. On the original 6/7month bridging loan AC will have had fees of £64k vs lender interest of £63k and if this is renewed for a further 4 months the total fees will be £91k vs £94k.....and this on a loan with an LTV of 74% which already weighs the risk against lenders Your numbers look wrong - AC have received fees of £45k (7*4451 + £14,021) for the 7 months, the other £14k was paid to the broker. Lenders £55k. With the extension AC will receive £68k = £45k +£9347 + 3*£4451 (Apr already incl in to date figures) [assuming no extension fee goes to broker], lenders £79k NB Extension fee not paid until repayment Inevitably a short term loan will result in a higher proportion of fees to AC because the arrangement fee is a significant initial charge. This is compounded by AC writing large loans. Running the numbers on another platform - a 6 month £1.1m loan results in the platform receiving £37k, lenders about £500 more.
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ton27
Member of DD Central
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Post by ton27 on May 5, 2022 16:06:52 GMT
Thanks for clarification - I missed the introducers fee.
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Post by overthehill on May 22, 2022 14:11:13 GMT
#1122 has gone from an initial 44% LTV to an expected 71% capital recovery. UKs biggest P2P platform, size doesn't mean sh1t as far as consumers are concerned. I'm going to need to lower my LTV bar.
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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
Posts: 11,316
Likes: 11,525
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Post by ilmoro on May 22, 2022 22:24:49 GMT
#1122 has gone from an initial 44% LTV to an expected 71% capital recovery. UKs biggest P2P platform, size doesn't mean sh1t as far as consumers are concerned. I'm going to need to lower my LTV bar. 44% LTGDV not LTV, launch LTGDV was 61% and hasnt changed in the docs, its only dropped because the facility has been capped at the funds advanced to date but he security value not revised. LTV actually increases during the build , J curve & all that, only hitting the indicated value towards the end. As has been clearly disclosed the build is non-compliant so the valuations are totally meaningless, given the potential costs any purchaser may incur to regulise the build, even more so than they are anyway once a distressed sale is underway (valuation do not cover that scenario) No idea if you need to lower the bar, but certainly make sure you know what you are setting it against
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Post by overthehill on Dec 15, 2022 19:31:56 GMT
Another thread, another metaphor to spend with a bottle of wine. When is their xmas party, what, retail investors not invited ?
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Mike
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Post by Mike on Dec 16, 2022 10:38:04 GMT
Another thread, another metaphor to spend with a bottle of wine. When is their xmas party, what, retail investors not invited ? They do in fact have history contributing to xmas parties for retail investors, back in the good old days: Unfortunately I can't make this personally as it's bound to be a good evening out, but it would be a great opportunity for one of our customer services representatives to put some names to faces. Dominic would like to attend and AC is happy to put £250 towards food for everyone. If you've ever called our customer services line you've most likely spoken to Dom at some point. As far as I know they're the only platform to have done this
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p2pfan
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Post by p2pfan on Dec 16, 2022 12:28:39 GMT
I would encourage everyone to lodge complaints with AC, the FOS and FCA etc. regarding the introduction of these new fees. Also, anyone who is considering giving their hard-earned money to Assetz Exchange is a fool. Stuart Law, the turd that is responsible for crashing AC, is intimately involved with Assetz Exchange, and is certain to cause Assetz Exchange to eventually go to the wall leaving investors in tears. |
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