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Post by andrewholgate on Dec 19, 2013 10:07:09 GMT
I know you have been waiting for a number of new deals to come through, as usual they are like buses and all come at once. We have a number of loans coming over Christmas that we hope you will enjoy. In summary:
- Stourbridge development - We have the final information and this should be live for auction on Monday 23rd. It is underwritten in its entirety.
- Bridge loan for a property in Anglesey - We have had to move quickly on this one and draw it down before Christmas. Loan units will be released immediately on to the aftermarket allowing immediate returns of 1% pcm.
- Commercial mortgage - This loan is at 80% LTV on 1st LC, reduced by a 2nd LC on another property, but pays a very good rate of return to lenders.
- Call centre business - a 2 year cash flow facility for a successful call centre business. Fully secured.
- One very special loan - I'm keeping a lot of details back but this will be a good way to finish 2013 and we have the loan fully underwritten.
Q&A system will be running throughout Christmas for these loans.
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mikes1531
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Post by mikes1531 on Dec 19, 2013 13:15:22 GMT
I know you have been waiting for a number of new deals to come through, as usual they are like buses and all come at once. We have a number of loans coming over Christmas that we hope you will enjoy. In summary: - Stourbridge development - We have the final information and this should be live for auction on Monday 23rd. It is underwritten in its entirety. - Bridge loan for a property in Anglesey - We have had to move quickly on this one and draw it down before Christmas. Loan units will be released immediately on to the aftermarket allowing immediate returns of 1% pcm. - Commercial mortgage - This loan is at 80% LTV on 1st LC, reduced by a 2nd LC on another property, but pays a very good rate of return to lenders. - Call centre business - a 2 year cash flow facility for a successful call centre business. Fully secured. - One very special loan - I'm keeping a lot of details back but this will be a good way to finish 2013 and we have the loan fully underwritten. Q&A system will be running throughout Christmas for these loans. Thanks for the update and the advance notice. Stourbridge: I look forward to seeing the reports and this opportunity finally going live. Anglesey: AIUI, the loan parts can't be released in the aftermarket until after drawdown. Can you give us any idea when the release might occur? Will the loan appear in the list of Completed Auctions before the release so that we can have a bit of time to learn more about it before we have to commit our money to it? How big is the loan? Is it large enough that the loan parts won't disappear in a flash as soon as they are released? Or is it going to be another scrum? The other opportunities: Can you give us any idea of their size? I look forward to receiving more details.
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Post by andrewholgate on Dec 19, 2013 13:34:59 GMT
There is around £5m of lending to come ranging from £250k to the special deal.
I'll get an update on the Anglesey one soon.
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Post by pepperpot on Dec 19, 2013 13:48:43 GMT
Keep going like this and you'll be knocking on the door of the big boys, when am I likely to see my local high street branch of AC open?  I'd turn up for crepes n champers  |
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mikes1531
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Post by mikes1531 on Dec 19, 2013 13:53:49 GMT
There is around £5m of lending to come ranging from £250k to the special deal. I'll get an update on the Anglesey one soon. Thanks.
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Post by andrewholgate on Dec 19, 2013 15:38:10 GMT
Keep going like this and you'll be knocking on the door of the big boys, when am I likely to see my local high street branch of AC open? I'd turn up for crepes n champers You are making us sound like a bank!! FCA please note - we are not! A
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Post by andrewholgate on Dec 19, 2013 15:40:05 GMT
There is around £5m of lending to come ranging from £250k to the special deal. I'll get an update on the Anglesey one soon. Thanks. Anglesey - The loan is for £875k and is fully underwritten allowing us to drawdown before Christmas. It should appear (I will get a preview up) in the completed loans soon, and once drawn loan units will be made available. A
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Post by andrewholgate on Dec 19, 2013 15:43:03 GMT
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mikes1531
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Post by mikes1531 on Dec 20, 2013 3:57:07 GMT
Anglesey - The loan is for £875k and is fully underwritten allowing us to drawdown before Christmas. It should appear (I will get a preview up) in the completed loans soon, and once drawn loan units will be made available. This loan has now appeared in the list of Completed Auctions. Thank you. There is reference in the Loan Information section to an Abridged Credit Report being available, but there's no sign of that in the Documents section. When will the ACR be put where we can access it? The info says the loan will be drawn down today (Friday). Does that mean the loan units will be appearing in the aftermarket on Friday as well? Will there be any advance notice of the timing of the release, or are we supposed to to keep checking the website every few minutes until they appear?
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oldgrumpy
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Post by oldgrumpy on Dec 20, 2013 4:06:05 GMT
Can't sleep, uh?  I expect with 875K the units will last a while.  |
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mikes1531
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Post by mikes1531 on Dec 20, 2013 13:20:56 GMT
Can't sleep, uh? I expect with 875K the units will last a while. I really don't know what to expect. The listing shows the original loan money was provided by nine bids from eight separate bidders. I don't know how much of that money is going to stay with the loan and how much will be released to us ordinary punters. What I do know is that the South Manchester bridging loan offered at the end of November was not that much smaller -- it was £600k -- and it was completely funded just three minutes after it was opened for general bidding. So this one could take a while to be snapped up, or it could disappear in a matter of a very few minutes. Your guess is as good as mine.
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oldgrumpy
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Post by oldgrumpy on Dec 20, 2013 13:28:40 GMT
I wonder if they'll sell £1000 units as per Nottingham or £100 units as per normal.
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TFTO
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Post by TFTO on Dec 20, 2013 13:32:23 GMT
What time is it going to hit the secondary market because it is now showing as drawn down?
Chris
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Post by andrewholgate on Dec 20, 2013 14:52:22 GMT
It will be £100 chunks. I'll get Mark to report when they will be live.
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I'd turn up for crepes n champers 
