j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 9, 2014 10:14:13 GMT
Anyone else received an email re:this loan? Rate increased to 12.5% from 12% due to increased LTV. Draw down hopefully expected next week 
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jan 9, 2014 10:38:47 GMT
Whoopee At last something is moving!! |
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alison
Member of DD Central
Sanctuary!!
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Post by alison on Jan 9, 2014 10:41:14 GMT
Nope.
I think I filled the kettle too full just before that one opened and the loan was 100% taken by the time it boiled.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 9, 2014 11:11:10 GMT
Nope. I think I filled the kettle too full just before that one opened and the loan was 100% taken by the time it boiled. Considering it will eventually be 5-6 weeks till draw down, you haven't missed don much Alison. I'm glad I only bid a very small amount as funds would have been sitting doing nothing all the while.
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mark
Posts: 163
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Post by mark on Jan 9, 2014 15:40:25 GMT
Whoopee At last something is moving!! I can't see any reference to this loan on AC website. What please are you all referring to. I did not get any email.
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mikes1531
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Post by mikes1531 on Jan 9, 2014 15:44:24 GMT
Anyone else received an email re:this loan? Rate increased to 12.5% from 12% due to increased LTV. Draw down hopefully expected next week I did. I'm glad to see this one is moving. Hopefully something will happen on my others as well.
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pikestaff
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Post by pikestaff on Jan 9, 2014 15:52:48 GMT
Me too. It looks like it will be 6 weeks from auction to drawdown, which is a lot better than some of my others are doing (Slough, Dentist, Lend to Let 7). I accept that getting the security takes time, but drawdown does seem to be much slower on Assetz than on ThinCats.
@ Mark - the auction began and ended on 3 December, which is why you can't see it.
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alison
Member of DD Central
Sanctuary!!
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Post by alison on Jan 9, 2014 15:57:39 GMT
Whoopee At last something is moving!! I can't see any reference to this loan on AC website. What please are you all referring to. I did not get any email. You're not in it either then. Look in Completed Loans for a county near Surrey!!
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Post by andrewholgate on Jan 9, 2014 16:14:11 GMT
Sussex?
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mark
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Post by mark on Jan 9, 2014 17:28:42 GMT
I can't see any reference to this loan on AC website. What please are you all referring to. I did not get any email. You're not in it either then. Look in Completed Loans for a county near Surrey!! Thanks for the replies all . My misunderstanding. I thought you were was referring to a new loan on AC.
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Post by bracknellboy on Jan 10, 2014 10:54:27 GMT
I'm actually in two minds as to whether to go for the opt out on this one. yes the rate has been ticked up from 12 to 12.5, but a change in LTV from 60% to 74% is a very significant change. In addition, the mortgage on this property is greater than was previously declared, which I find less excusable than an initial misvaluation. It smacks a little of either carelessness/bad management on part of the borrower or initial obfuscation when applying for the loan. It just starts to give me an uncomfortable feeling. Esp. when the purpose of the loan includes 'to clear down credit card debts'.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 10, 2014 14:22:11 GMT
I'm actually in two minds as to whether to go for the opt out on this one. yes the rate has been ticked up from 12 to 12.5, but a change in LTV from 60% to 74% is a very significant change. In addition, the mortgage on this property is greater than was previously declared, which I find less excusable than an initial misvaluation. It smacks a little of either carelessness/bad management on part of the borrower or initial obfuscation when applying for the loan. It just starts to give me an uncomfortable feeling. Esp. when the purpose of the loan includes 'to clear down credit card debts'. My thoughts initially, but then when I looked at it again, there is still a 26% cushion in terms of the security on offer (despite, I agree, the big drop from 60%). Also, the amount bid is not big, so can live with the risk/reward ratio. Would have liked 13%, but that's probably just being greedy! At the end of the day, it's all subjective to the level of risk we're all happy to endure, but agreed, better due diligence in the future please AC, that's one of your main USPs!
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unmadem
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Post by unmadem on Jan 13, 2014 17:58:56 GMT
on sale on aftermarket but only a few hundred left
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andy2001
Member of DD Central
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Post by andy2001 on Jan 13, 2014 18:04:08 GMT
I picked up a unit. Had none on the auction,
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Jan 13, 2014 18:12:14 GMT
was gonna pick some but they seem to have gone in a puff of smoke before I could blink. never mind, can't win 'em all!
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