agent69
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Post by agent69 on Mar 2, 2015 17:29:32 GMT
I'm surprised that people are still keen on short term bridging loans.
Think I need to see a few successfully repaid before I dabble in that marketplace again.
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j
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Penguins are very misunderstood!
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Post by j on Mar 2, 2015 17:33:26 GMT
If AC think it would be an issue to pre-announce draw down & then only for that not to happen, hence peeving us off, they needn't worry. I think we all expect some promised draw downs to not materialise every once in a while, provided it does not happen on a very regular basis. Coupled with no instant transfer/deposit facility, lenders need to know pre-hand otherwise it will be another big PR own goal.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 17:36:03 GMT
agent69 I use the small ones as a bank and will release in the first four months as other loans come up. Mind you, I did that in South Toast Crumber, and look where that got me. I wonder how much AC will retrieve from that. I suppose if they do well, (they have yet to show anything but pessismism) we can bypass the other littler grouses.
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Post by solicitorious on Mar 2, 2015 17:40:10 GMT
For those who are interested in these things [and Boy... you should be!]
I calculate
LTV0: 0%
LTV50: 25.4%
LTV90: 45.8%
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bugs4me
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Post by bugs4me on Mar 2, 2015 17:43:39 GMT
I'm surprised that people are still keen on short term bridging loans. Think I need to see a few successfully repaid before I dabble in that marketplace again. I don't have a problem with BL's although I think often 6 months has proved to be too optimistic. For me and I suspect many others, the most important thing is the security backing the loan. Now that the security question has been brought well and truly into the 'headlines' I'm sure it will be under more scrutiny than previously.
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bugs4me
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Post by bugs4me on Mar 2, 2015 17:45:48 GMT
<snip> Mind you, I did that in South Toast Crumber, and look where that got me. I wonder how much AC will retrieve from that. I suppose if they do well, (they have yet to show anything but pessismism) we can bypass the other littler grouses. - IIRC from reading reports, isn't it going to take until sometime in 2017 before it's all sorted? - or am I thinking of another loan.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 17:47:19 GMT
Yes, but so far AC are not highlighting that aspect  |
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Post by solicitorious on Mar 2, 2015 17:47:26 GMT
Yep, we need LTVs rebased to Hard Security (if any), not based on promises or wishful thinking...
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mikes1531
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Post by mikes1531 on Mar 2, 2015 17:49:18 GMT
I'm surprised that people are still keen on short term bridging loans. Think I need to see a few successfully repaid before I dabble in that marketplace again. A lot depends on whether the investor is relying on the loan to repay on the specified date. If they are, then the performance of previous bridging loans definitely would be very off-putting. In this case, if they are not, and if they believe the 50% LTV shown, then they might not really care if the loan repayment overruns the maturity date. In fact, they might prefer that it did overrun, since that would mean an increased interest rate from 'maturity' until they eventually receive their money repaid.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 17:50:07 GMT
For those who are interested in these things [and Boy... you should be!] I calculate LTV0: 0% LTV50: 25.4% LTV90: 45.8% How bad (or good) are those figures (I have got the spreadsheet to look at) ... but we "amateurs" need a bit of help sometimes. 
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mikes1531
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Post by mikes1531 on Mar 2, 2015 17:53:02 GMT
For those who are interested in these things [and Boy... you should be!] I calculate LTV0: 0% LTV50: 25.4% LTV90: 45.8% How bad (or good) are those figures... Considerably better than SCP&M ever was! 
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bugs4me
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Post by bugs4me on Mar 2, 2015 17:54:20 GMT
If AC think it would be an issue to pre-announce draw down & then only for that not to happen, hence peeving us off, they needn't worry. I think we all expect some promised draw downs to not materialise every once in a while, provided it does not happen on a very regular basis. Coupled with no instant transfer/deposit facility, lenders need to know pre-hand otherwise it will be another big PR own goal. The odd delayed draw down has never been an issue in my mind. I'd sooner that everything was correctly in place before the monies were released. Unfortunately this seems to have become a more and more common occurrence in the recent past although I'm not placing any blame on AC for that. I'm sure they're as eager as all of us to see the loan live. I had set a target for 156 but there were no funds available today. They'd been gobbled up by another target over the weekend and without knowing this loan was going live today coupled with the lack of a fast deposit system into the account, there was no way to get a slice of the action anyway. I've got a couple of fairly hefty loans due to be repaid during the next 4 weeks or so. Do I leave the funds in place sitting idle or.......decisions, decisions. Please don't mention that GEIA.
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Post by solicitorious on Mar 2, 2015 17:56:59 GMT
For those who are interested in these things [and Boy... you should be!] I calculate LTV0: 0% LTV50: 25.4% LTV90: 45.8% How bad (or good) are those figures (I have got the spreadsheet to look at) ... but we "amateurs" need a bit of help sometimes. I was an amateur too, until I lost ~£3k overnight. Then I decided I better become a professional...  I can only say that 156 is in the top quartile (better) risk profile of the offerings, but that should not be taken as advice. DYOR.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 18:08:53 GMT
Ta!  |
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agent69
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Post by agent69 on Mar 2, 2015 18:09:42 GMT
agent69 I use the small ones as a bank and will release in the first four months as other loans come up. I tried that with a mutual acquaintance from South Wales. Think he managed 1 repayment
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