kermie
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Post by kermie on Sept 4, 2014 18:36:34 GMT
Well I'd agree with that. However, either people don't have funds or there's not much AI been set up for it, and I'd still say its barely moving though compared to some other places I could mention........ Now just a little over 3k left, down from over 60k yesterday.
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agent69
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Post by agent69 on Sept 6, 2014 16:12:19 GMT
Small amount of auction 40 (K*** P***) available.
Don't think I have ever seen this one before
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Post by Ton ⓉⓞⓃ on Sept 7, 2014 9:18:58 GMT
Small amount of auction 40 (K*** P***) available. Don't think I have ever seen this one before For me they're in the range of Crown Jewels or the Family Silver, excellent rate & good payers. IN EDIT. This was a variable rate auction. Crown Jewels= Never Sell Family Silver= Sell Only in a panic
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mikes1531
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Post by mikes1531 on Sept 7, 2014 14:40:23 GMT
Small amount of auction 40 (K*** P***) available. Don't think I have ever seen this one before For me they're in the range of Crown Jewels or the Family Silver, excellent rate & good payers. IN EDIT. This was a variable rate auction. Crown Jewels= Never Sell Family Silver= Sell Only in a panic The fact that it was variable-rate means that if you allow AutoInvest to buy some units for you then you won't know what the rate would be until after AI has bought it. It appears that bids as low as 5% were allowed, though the lowest bids I found in a look through the list of bids a few minutes ago were at 10%. I suppose that if you didn't like the rate on any AI-purchased units you could sell them on quickly enough. I also note that this loan is "Secured by debentures and inter-company guarantees over the business and other group companies - Directors providing personal guarantees" so it doesn't look like there's any physical security.
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Post by Ton ⓉⓞⓃ on Sept 7, 2014 14:58:24 GMT
For me they're in the range of Crown Jewels or the Family Silver, excellent rate & good payers. IN EDIT. This was a variable rate auction. Crown Jewels= Never Sell Family Silver= Sell Only in a panic The fact that it was variable-rate means that if you allow AutoInvest to buy some units for you then you won't know what the rate would be until after AI has bought it. It appears that bids as low as 5% were allowed, though the lowest bids I found in a look through the list of bids a few minutes ago were at 10%. I suppose that if you didn't like the rate on any AI-purchased units you could sell them on quickly enough. I also note that this loan is "Secured by debentures and inter-company guarantees over the business and other group companies - Directors providing personal guarantees" so it doesn't look like there's any physical security.
It's also a franchise. IIRC When this issue come up awhile ago, how AI deals with variable rate auctions, it was said by chris that AI will only buy the top rate for you and nothing else, but I'm more than happy for someone to correct me if I'm wrong. But that raises a good question how do others rate they're loan units? (thinking of Asset allocation etc)
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Post by chris on Sept 7, 2014 15:09:11 GMT
If memory serves then that is incorrect. It'll buy anything from the minimum bid rate upwards. It's not really designed to work with variable rate auctions as we've only had a couple and won't be having any in the future, so it doesn't have any controls for users to control how low a bid they would be happy accepting.
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Post by Ton ⓉⓞⓃ on Sept 7, 2014 15:28:04 GMT
If memory serves then that is incorrect. It'll buy anything from the minimum bid rate upwards. It's not really designed to work with variable rate auctions as we've only had a couple and won't be having any in the future, so it doesn't have any controls for users to control how low a bid they would be happy accepting. So I'm completely wrong in my above statement about AI only buying the highest rate for Lenders. I think I picked up mine by hand... rather than using my foot or tummy.
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niceguy37
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Post by niceguy37 on Sept 8, 2014 16:17:32 GMT
Ip***ch back on AM, though refactored as 15% loan. It seems to be showing as a 9% fee for 6 months, which implies 18%
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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 Sept 8, 2014 17:00:23 GMT
Technically its a different loan. They have created a new loan called I***** B****** extension in order to facilitate the refinancing negotiations and set the rate at the late interest rate of 1.5% pm. All investors have been transferred to the new loan & interest on the old version has been paid up to date. The borrower has not therefore defaulted & as such the loan can be sold on the AM. I assume that this loan would then be replaced after an auction of a new loan on whatever terms are agreed for the refinance.
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Post by Ton ⓉⓞⓃ on Sept 8, 2014 17:01:39 GMT
Ippy has paid interest and I guess AC think that it will work out just. As we know delays occur often (100% of the time so far) with bridges.
The rate could be a little clearer, I don't know how a newbie would look at that and know what rate they were/would be getting, shop-window, shop-window.
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mark
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Post by mark on Sept 9, 2014 9:29:24 GMT
A block of ' new ' Ips**** Brid**** rate loan are available on the aftermarket if anyone is interested
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unmadem
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Post by unmadem on Sept 9, 2014 10:12:52 GMT
approx. 2k leeds com prop (auction 45) on am - 13%pa. note on q&a refinancing underway.
EDIT - As you might expect sold in couple of minutes.
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Post by yorkshireman on Sept 10, 2014 21:02:58 GMT
Small amount of North Lothian Wind in £20 units available.
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mikes1531
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Post by mikes1531 on Sept 10, 2014 21:36:02 GMT
If it wasn't already obvious, the reorganisation of Hackney has made those units saleable again. I think any AutoInvest instructions that would have been set on the original loan would have been de-activated for the extension loan. But anyone who wants more of this loan would be well-advised to set up an AI mandate now in case some lenders take the opportunity to get out. An an experiment, I offered my only sub-£100 Hackney unit up for sale a few minutes ago and it disappeared instantly, so some lenders must have have put some AI mandates into effect already.
I presume the same will happen for Anglesey when it is reorganised tomorrow.
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mikes1531
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Post by mikes1531 on Sept 10, 2014 21:59:29 GMT
I presume the same will happen for Anglesey when it is reorganised tomorrow. Thinking about it a bit more, I think Anglesey will be different, because it's already an extension. Since the extension is now overdue, units are unsaleable, so AI instructions are irrelevant. If all AC do is change the repayment date -- which now stands at 20/Jul -- to something in the future, these units will become saleable again but there may be no automatic de-activation of AI mandates. If that happens, anyone whose target holding is less than their current holding will have units put up for sale. So all Anglesey lenders probably ought to review their AI mandates -- NOW!! If it isn't obvious, chris, I think Anglesey AI mandates should be deactivated as part of the reorganisation.
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