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Post by chris on Jul 11, 2015 11:16:06 GMT
500k in geia has been mentioned on a thread previously iirc. Back in Feb / March, I think, Stu of AC said Geia had broken thru the 1m barrier, which wasn't long after the 500k was gone thru. We're approaching £2.5m now.
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jjc
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Post by jjc on Jul 11, 2015 11:23:40 GMT
That's my recollection too Ton ⓉⓞⓃ, but I wouldn't be surprised if that number has actually fallen since, given the lack of new green deals & concerns - largely not shared by me - as to how well the GEIA algorithm was working (I put the difficulties it's had mostly down to lack of dealflow). Cumbria AD will presumably at some point have units returning to the market when the rate drops. That too will add some churn. Lots of chomping coming up for the green monster. |
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mikes1531
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Post by mikes1531 on Jul 11, 2015 12:22:19 GMT
We're approaching £2.5m now. Thanks for the update, chris. It's good to see that the GEIA has that much support, and the fact that there's another GEIA-eligible loan on the way (Conwy) is good news too.
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Post by chris on Jul 11, 2015 13:26:03 GMT
We're approaching £2.5m now. Thanks for the update, chris. It's good to see that the GEIA has that much support, and the fact that there's another GEIA-eligible loan on the way (Conwy) is good news too. Yup. It's been growing steadily week on week albeit with larger growth during the weeks where there were new loans drawing down.
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ianb
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Post by ianb on Jul 13, 2015 15:32:17 GMT
172 has drawndown (Wy****m) - no sign of 167/8 which I sort of expected today after they only just missed Friday. No update on these fellahs yet tho one was promised for today.
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ilmoro
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Post by ilmoro on Jul 13, 2015 15:44:19 GMT
172 has drawndown (Wy****m) - no sign of 167/8 which I sort of expected today after they only just missed Friday. No update on these fellahs yet tho one was promised for today. Time to test the new faster flying pig payment system then. Thrust to maximum. Smoky bacon is go  Edit: It works, 20 mins and in the account. Crackling
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tonyr
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Post by tonyr on Jul 13, 2015 15:52:22 GMT
172 has drawndown (Wy****m) - Funds called for on the 9th and draw down on the 13th - approx two working days after funds were called for - impressive! no sign of 167/8 which I sort of expected today after they only just missed Friday. No update on these fellahs yet tho one was promised for today. Yes, was expecting 167/168 to happen first. I hope we don't have more unexpected news.
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ilmoro
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Post by ilmoro on Jul 13, 2015 15:52:52 GMT
172 has drawndown (Wy****m) - no sign of 167/8 which I sort of expected today after they only just missed Friday. No update on these fellahs yet tho one was promised for today. Other two scheduled for the 14th as paperwork arrived too late
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ilmoro
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Post by ilmoro on Jul 13, 2015 16:02:58 GMT
172 has drawndown (Wy****m) - Funds called for on the 9th and draw down on the 13th - approx two working days after funds were called for - impressive! Working days shouldnt be as relevant now the new system is up & running as FP payments will be credited on non working days. Noticed loan repayments are even being credited on Sundays now which wasnt happening before.
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Post by crabbyoldgit on Jul 13, 2015 17:07:32 GMT
Interesting cris comment on the geia churning in the conway wt units to give additional diversity to existing geia accounts.i have been waiting with interest for this drawdown to test some conserns about how the program in effect actually works.at present i reinvest capital payments in the geia and withdraw interest and invest this in the manual market so my geia account is very stable and having about 60 percent of my stake spread across 3 wt i would have expected to see the progam slowly reducing these and increasing my stake in those others ,ac does say the fund is activly managed to provide diversity.but absolutly no activity has been seen just small purchases to use up capital repayments.so at face value all the program seems to do is limit any wt investment to 20 percent and thats it.so if i am wrong i will see conway units added to my geia account over the next month if i am right then i will get none,will let you know in a few weeks what happens.
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Post by mrclondon on Jul 13, 2015 18:15:30 GMT
Funds called for on the 9th and draw down on the 13th - approx two working days after funds were called for - impressive! Working days shouldnt be as relevant now the new system is up & running as FP payments will be credited on non working days. Noticed loan repayments are even being credited on Sundays now which wasnt happening before. FP won't necessarily help all underwriters : "The maximum amount it is possible to send in a single Faster Payment is £100,000, however there are varying limits in place depending on who you bank with. " with some banks e.g. HSBC as low as £10k ( www.fasterpayments.org.uk/consumers/transaction-limits ) unless you key in multiple low value transactions.
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ilmoro
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Post by ilmoro on Jul 13, 2015 18:18:43 GMT
Other two scheduled for the 14th as paperwork arrived too late Hang on! Hang on! While I'm delighted that drawdowns are all going ahead, Have AC abandoned keeping the "predicted drawdown" value up to date already? We've only had it a couple of weeks! Remember that the drawdown date is a long stop, not an absolute, ideally AC should be drawing loans before the date is reached, which they have been generally achieving of late. Predicted date for these two is 17th, so they should be well inside. 14th isnt definite as they have stated they will be updating daily until drawdown which sounds like bet hedging to me.
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j
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Post by j on Jul 14, 2015 6:55:26 GMT
Surprised that the wyki school loan has mch left on AM? might be a lower rate loan but seems to have decent security & business backup!
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tonyr
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Post by tonyr on Jul 14, 2015 7:13:43 GMT
Working days shouldnt be as relevant now the new system is up & running as FP payments will be credited on non working days. Noticed loan repayments are even being credited on Sundays now which wasnt happening before. FP won't necessarily help all underwriters : "The maximum amount it is possible to send in a single Faster Payment is £100,000, however there are varying limits in place depending on who you bank with. " with some banks e.g. HSBC as low as £10k ( www.fasterpayments.org.uk/consumers/transaction-limits ) unless you key in multiple low value transactions. And many underwriters will look to sell other loans in order to fund a drawdown. The market is still very slow outside of working hours.
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ilmoro
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Post by ilmoro on Jul 14, 2015 9:00:56 GMT
#188 Another WT added to the pipeline. Another 11 potentially to follow, should keep the GEIA going!
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