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 
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Post by ilmoro on Apr 1, 2015 12:32:39 GMT
Latest email update says 7/4 is target date for redemption but its is qualified by a request for a daily intetest rate thereafter  |
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ianb
Posts: 161
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Post by ianb on Apr 1, 2015 14:22:26 GMT
Some nice kind person is buying up tons of 101 from the AM, thanks someone as I was worried next new loans would drawdown before this was redeemed to leave me a cash mountain.
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Apr 1, 2015 14:44:29 GMT
Collecting 1%s ready to resell in a fortnight?
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Apr 1, 2015 15:31:48 GMT
Some nice kind person is buying up tons of 101 from the AM, thanks someone as I was worried next new loans would drawdown before this was redeemed to leave me a cash mountain. Collecting 1%s ready to resell in a fortnight? The repayment of #103 has put £110k into lenders' accounts, and no doubt some of that will be looking for a new home within AC. Loan #101 might be a reasonable parking place for some of that while deciding where to put the money longer-term. Questions I have that someone here might know the answers to are... - If I've opted to roll my existing #101 investment into the new care home loan, does that cover just the amount I had in #101 at the time of the option deadline (i.e. 1700 on 31/Mar)? Or does it cover all of my holding at the time of the rollover (i.e. 7/Apr or thereabout)?
- If the latter, does the whole amount rolled over qualify for the cashback offer?
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Post by whitmanthecat on Apr 1, 2015 15:36:18 GMT
Collecting 1%s ready to resell in a fortnight? Maybe not in the spirit of the offer, but could get away with it. The deadline for opting to transfer was yesterday, but it doesn't (or at least I missed it) state the date as at which the existing holding is counted.
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Post by godfrey on Apr 1, 2015 15:48:15 GMT
This loan is showing 1 of 12 months left when only 8 payments made.
What am I seeing wrong?
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ianb
Posts: 161
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Post by ianb on Apr 1, 2015 15:53:34 GMT
Its an early redemption.
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 1, 2015 16:21:08 GMT
Collecting 1%s ready to resell in a fortnight? Maybe not in the spirit of the offer, but could get away with it. The deadline for opting to transfer was yesterday, but it doesn't (or at least I missed it) state the date as at which the existing holding is counted. IMHO, anyone who tries this may be very disappointed. I think they'll find that selling soon after drawdown will not be particularly easy. This is a huge loan. A lot of it may be funded by investors rolling over their #101 investment to take advantage of the cashback, and if they all try to sell at once I expect there will be a shortage of buyers. Not to mention that even if every #101 investor rolled their investment forward there'd still be £750k of underwriting required, and most of that will appear on the Aftermarket immediately after drawdown. And if not everyone rolls over from #101 then even more underwriting will be required. And finally... Since there are #101 parts available now, why would anyone set a target to buy parts of the new loan when it draws down if they can invest in #101 now and earn interest immediately rather than waiting for the new loan to draw down before earning anything?
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pikestaff
Member of DD Central
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Post by pikestaff on Apr 1, 2015 17:04:26 GMT
Some nice kind person is buying up tons of 101 from the AM, thanks someone as I was worried next new loans would drawdown before this was redeemed to leave me a cash mountain. I'd be buying if I had spare cash on the platform. Not to collect the 1% cashback but as a nice low risk home for the cash for a few days. However, I'm cash poor at the moment and the assets I'd be willing to sell to fund a switch are not ones that I'd easily get buyers for.
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duck
Member of DD Central
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Post by duck on Apr 1, 2015 17:49:26 GMT
I had used the previous loan as a cash dump (I liked the loan) and as such both my personal and businesses accounts held more than I wanted rolled over into the new loan, so I let the offer go begging. I agree with others that the loan will be harder to sell on the aftermarket since there should be plenty available ..... but I could be wrong!
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Apr 1, 2015 18:02:23 GMT
I had used the previous loan as a cash dump (I liked the loan) and as such both my personal and businesses accounts held more than I wanted rolled over into the new loan, so I let the offer go begging. I agree with others that the loan will be harder to sell on the aftermarket since there should be plenty available ..... but I could be wrong! I suspect that -- despite the passage of the deadline -- if you ask nicely, AC would let you roll over part of your holding and pay cashback on the part rolled over. It's worth a try.
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Post by bracknellboy on Apr 1, 2015 18:39:43 GMT
Well presumably they would as they only actually sent me the email today making me the offer .....
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 2, 2015 3:03:38 GMT
Well presumably they would as they only actually sent me the email today making me the offer ..... They only sent it today? Or you only received it today? (I've seen numerous examples of emails spending quite a while touring cyberspace before arriving at their intended destination.)
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gt94sss2
Member of DD Central
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Post by gt94sss2 on Apr 2, 2015 16:23:46 GMT
Just got an email saying the new loan is now fully funded.
what interests me is that someone here got a full CR - I wonder if that was supposed to go to everyone who got the first email? I didn't get the second one anyway...
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Post by pepperpot on Apr 2, 2015 17:03:01 GMT
Just got an email saying the new loan is now fully funded. what interests me is that someone here got a full CR - I wonder if that was supposed to go to everyone who got the first email? I didn't get the second one anyway... I thought everyone invested in the first loan would have received the full CR, my email came through 31Mar 3:38pm and was linked as a 'conversation' to the first in Yahoo, so not immediately obvious. Just over an hour before the apparent deadline of 5pm, I might add...
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