What's on the aftermarket?

It's great the de-listing bug is now sorted, the other thing to bear in mind you have to be penny perfect when you want it to de-list something. I set an AI to £195.00-not good enough, I set it to £195.16 then it delisted. Or slightly over.

The first still has some units available, but the other two have gone. 

I find it somewhat interesting that the last loan has lost its prominent notice regarding recent developments.  Perhaps that's quite appropriate as the loan is now officially up to date.

I have put some units of Anglesey up for sale.  I had intended to keep them until maturity and use the proceeds towards my tax bill due at the end of the month, but AC have indicated that the refinance looks likely to take a bit longer than initially expected, and thus might not be drawn down in time for that, so I've decided to sell some of my units now, particularly as I expect the units will become unmarketable very shortly due to the expected failure to pay on time. 

The payment was due today.  Does that mean they become ineligible for
listing on the Aftermarket at midnight tonight?  Or not for a further 24
hours because a payment due on a Sunday would be expected to be paid on
the Monday in any case?

This could be an opportunity for someone looking for a short-term investment.  The rate on the loan is 18% now, and I don't know whether it might be even higher if the refinance is delayed by more than an additional week.  Of course, if the whole refinance deal goes pear-shaped then it would be even longer before the AC loan is paid off.  AC seem confident the refinance will happen, and even if it fell apart completely and AC had to liquidate the security there should be no problem with recovery -- except for the uncertain timing, of course -- because the loan was taken out to cover the cost of a major refurbishment and, as AC said on 19/Jun at the time of the one-month loan extension...
This is, of course, JMHO.  Before buying any units in this loan, please make your own judgement as to whether they are an appropriate investment for you.

I remember reading that quote myself but I took it to mean they were trying to get that to be the state of affairs for this loan, I didn't take it as a statement of how things really were. It's in something like Lawyerese (Lawyer Speak).

I can't find where that quote is on AC, it was clearly one of the troubled loans tho'.


I think each contract has a default rate, but at just one level and these loans are now on it.

I've been doing similar, and I've had a bit of success with Ep**ng and Ip***ch -- mostly today -- but very little at Ha**ney.  I'd even go so far as to suggest that very little Ha**ney is being bought.

I did manage to sell a good portion of my Ang*** units before they became unsaleable on Monday morning.  I feel comfortable enough with the security, so as long as it does get paid off eventually I'll be happy, especially as I've now raised enough to cover my tax bills due at the end of next week.  Good as the current return is, however, I can see advantage in getting out early so as to be able to redeploy my funds before £875k comes back to lenders at maturity.  With so much available in the Aftermarket at the moment, it's probably not an issue, but the three loans of about £2M each that are maturing in Aug/Sep have the potential to distort things for a while.  It will be interesting to see how that all works out.