|
|
Post by oldnick on May 2, 2015 10:11:36 GMT
bracknellboy beat me to it. Nothing personal. Moderating is an imperfect science and I was just erring on the side of caution. It may not be possible to identify the borrower from the general location you gave, but your implication was that it might be! Aberystwyth contains enough hotels for the name of the town alone to be unhelpful.
|
|
|
|
Post by oldnick on May 2, 2015 10:20:14 GMT
I would add that if any contributor thinks they have breached, or could breach, the anonimity that was the agreed basis of a loan, they should not post that information publicly on this forum.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
|
Post by ilmoro on May 6, 2015 9:22:00 GMT
#165 has disappeared, imminent drawdown or technical issue? Place your bets!
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on May 6, 2015 10:14:47 GMT
#165 has disappeared, imminent drawdown or technical issue? Place your bets! Maybe it's been snapped up by someone with deep pockets - well deeper than mine that's for sure!!!!
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on May 6, 2015 12:08:18 GMT
#165 has disappeared, imminent drawdown or technical issue? Place your bets! Maybe it's been snapped up by someone with deep pockets - well deeper than mine that's for sure!!!! Its the mythical, mysterious & now infamous replacement for West Lancs CH. My bid still showing so none of the cash from any pockets has reached me.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on May 6, 2015 14:44:22 GMT
#165 M***** CH has disappeared, imminent drawdown or technical issue? Place your bets! Anyone who went with technical was correct. Has reverted back to auction so they can fiddle about to ensure all bids are correct. Should reappear later today. Interestingly, interest will now be paid monthly not rolled up as originally stated.  Edit: Annoyingly. drawdown at least 1-2 weeks, so a full month after West Lancs repaid and considerably at variance to AC repeated statements on the matter - AGAIN!  Edit 2: Has indeed reappeared.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on May 6, 2015 15:03:10 GMT
Edit: Annoyingly. drawdown at least 1-2 weeks, so a full month after West Lancs repaid and considerably at variance to AC repeated statements on the matter - AGAIN! To be fair to AC I'd rather they take an extra week and get the details right. The forecast vs actual volumes are another matter.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on May 6, 2015 15:57:34 GMT
Edit: Annoyingly. drawdown at least 1-2 weeks, so a full month after West Lancs repaid and considerably at variance to AC repeated statements on the matter - AGAIN! To be fair to AC I'd rather they take an extra week and get the details right. The forecast vs actual volumes are another matter. Agreed, but then stop making statements that repeatedly turn out to be based on air. Remember this was a roll over loan that was originally sold as drawing down contemporaneously as West Lancs repaid, then near simultaneously, then quickly, now about 6 weeks after lenders were first notified of the chance to roll. Its the same story over & over again. The forecast v volumes is another example of this issue, repeated 'cry wolf'. Perhaps an 8ft granite carved monolith outside AC HQ is the answer 
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on May 6, 2015 16:11:22 GMT
Agreed, but then stop making statements that repeatedly turn out to be based on air. Remember this was a roll over loan that was originally sold as drawing down simultaneously as West Lancs repaid, then near simultaneously, then quickly, now about 6 weeks after lenders were first notified of the chance to roll. Its the same story over & over again. The forecast v volumes is another example of this issue, repeated 'cry wolf'. Perhaps an 8ft granite carved monolith outside AC HQ is the answer I think that if you check your original email (I don't have it with me here) you will find that simultaneous draw down was never suggested. I think that the suggestion was always 2 - 3 weeks.
|
|
|
|
Post by jevans4949 on May 6, 2015 16:47:30 GMT
I think that if you check your original email (I don't have it with me here) you will find that simultaneous draw down was never suggested. I think that the suggestion was always 2 - 3 weeks. Relevant part od the email of 30 March states: "We have been presented with an opportunity to fund a second loan to an existing borrower who originally brought us the West Lancashire Care Home Loan # 101. The current loan will be repaid in full shortly as the property is being sold to a Real Estate Investment Trust (REIT). "Given you are a loan unit holder in the current loan the decision has been taken to provide you with details of the new loan prior to formal drawdown in order for you to consider migrating your holding into the new loan. As such, I am pleased to attach documents relating to the new loan for your consideration. "Should you wish to transfer your investment in the existing loan to the new loan then you will need to reply with “YES” to this email by 5pm on 31st March 2015. "There is also a cash back of 1% of the amount transferred which will be applied to the accounts of all those who choose to migrate their holdings, subject to the loan drawing down." True, no timeframe was given (and the repayment thing drifted on longer than first intimated). However, words such as "transfer" and "migrate" implied to me a more-or-less instantaneous operation, not several weeks in limbo.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on May 6, 2015 17:28:07 GMT
Agreed, but then stop making statements that repeatedly turn out to be based on air. Remember this was a roll over loan that was originally sold as drawing down simultaneously as West Lancs repaid, then near simultaneously, then quickly, now about 6 weeks after lenders were first notified of the chance to roll. Its the same story over & over again. The forecast v volumes is another example of this issue, repeated 'cry wolf'. Perhaps an 8ft granite carved monolith outside AC HQ is the answer I think that if you check your original email (I don't have it with me here) you will find that simultaneous draw down was never suggested. I think that the suggestion was always 2 - 3 weeks. From the new loan CR 'We have experience of this borrower through the first W*** Lancs CH (WLCH), which AC investors funded and which will be repaid contemporaneously with drawdown of this facility. ' (my emphasis) I confess I took that to mean at the same time, ie its a synonym of simultaneously. Subsequent clarification though Q & A determined it would not be simultaneous but 'fairly quick' I think AC needs to be much more cautious in their statements, so they can surpass expectations.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on May 7, 2015 3:22:56 GMT
If the drawdown date slips any further, then the 1% cashback won't be enough to cover the interest that could have been earned by moving a maturing investment in #101 into other AC loans while waiting for the new loan to draw down.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on May 7, 2015 14:33:56 GMT
New loan
#172 Public school £425k 10.25% 5yrs 35%LTV 1st charge & debenture
Weirdly David Ricketts seems to be asking a question in the Q&A
|
|
|
|
Post by davidricketts1 on May 7, 2015 15:12:20 GMT
New loan #172 Public school £425k 10.25% 5yrs 35%LTV 1st charge & debenture Weirdly David Ricketts seems to be asking a question in the Q&A Needed slightly rewording so I've reposted it.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on May 7, 2015 15:34:33 GMT
New loan #172 Public school £425k 10.25% 5yrs 35%LTV 1st charge & debenture Weirdly David Ricketts seems to be asking a question in the Q&A Needed slightly rewording so I've reposted it. Do you mean you are re-writing investor's questions? I have to say some of the phraseology in the Q strongly reminded me of a very frequent contributor to this forum (not you!). I hope the anticipated draw-down timescale is robust, be good to have a 'fast' one.
|
|
