tonyr
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Post by tonyr on Dec 20, 2016 22:01:37 GMT
I was allocated the 1K of each I had requested. I went for a 5-figure sum of each and got £4,829.36 of #389 and £5,099.71 of #388. I'm disappointed. I thought that both direct and seedrs investing would hedge my bets. When I get time I'll have to drive up there and see them in person.
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mikes1531
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Post by mikes1531 on Dec 21, 2016 18:24:19 GMT
This is becoming a regular thing now. Allocations are often dealt with the day after drawdown, especially when drawdown occurs late in the day. 100% does not go into QAA. Perhaps it's just semantics, but if nothing goes to MLIA/GBBA/GEIA investors at the time of drawdown, then 100% must have gone to the QAA (unless there were underwriters). The money needed at drawdown has to come from somewhere, and if it didn't come from AC retail accounts doesn't it have to come from the QAA? (I suppose it could come from AC working capital, but isn't that what the QAA is for?) So the QAA earns a bit of interest overnight and then the allocations to the AC investors are made the following day. That doesn't bother me except for the extension of the period of uncertainty regarding how much my allocation is going to be. I'm glad to see from the info supplied -- Thank you, tonyr! -- that the maximum allocations for these loans were around £5k. I think that's an improvement over the time when maximum allocations were down in three -- or even two -- figures. Do we have any info yet on the maximum allocation for #392? If it hasn't already been reported elsewhere, the maximum allocation for #390 appears to have been £87.33. I asked for more, but that's all I got.
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Post by crabbyoldgit on Dec 26, 2016 10:28:06 GMT
Sorry I seem to have lost the plot a bit on 396, it appears to have drawn down at some stage and I totally missed it.However though I had a bid in and at least some funds available, maybe less than my request ,no allocation yet. Has anybody had an allocation or is this stuck for more than the now normal couple of days in ac towers due the xmas holiday.
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jonah
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Post by jonah on Dec 26, 2016 11:25:22 GMT
Sorry I seem to have lost the plot a bit on 396, it appears to have drawn down at some stage and I totally missed it.However though I had a bid in and at least some funds available, maybe less than my request ,no allocation yet. Has anybody had an allocation or is this stuck for more than the now normal couple of days in ac towers due the xmas holiday. My GBBA got some on the 22nd.
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agent69
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Post by agent69 on Jan 7, 2017 12:07:25 GMT
362 looking a bit lonely all by itself. Wonder when it will get some company?
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Post by Ton ⓉⓞⓃ on Jan 7, 2017 23:33:41 GMT
362 looking a bit lonely all by itself. Wonder when it will get some company? I wonder if it will ever drawdown, it been in this state, "underwriting called" in the pipeline for about two months. AC say it's lawyers talking to lawyers about security.  The other thing that I'm sure has caught a certain amount of Lenders attention is the number of Scottish loans. Obviously the WT's (wind turbine) are more likely to be in the north, I believe this being down to windier conditions and perhaps land being available for this use. Besides this there are still quite a number; does anyone have any thought as to why this is? I know that AC has an agreement with RBS to pass on the rejects but this seems unlikely.
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mikes1531
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Post by mikes1531 on Jan 9, 2017 4:33:46 GMT
The other thing that I'm sure has caught a certain amount of Lenders attention is the number of Scottish loans. Obviously the WT's (wind turbine) are more likely to be in the north, I believe this being down to windier conditions and perhaps land being available for this use. Besides this there are still quite a number; does anyone have any thought as to why this is? I know that AC has an agreement with RBS to pass on the rejects but this seems unlikely. An enthusiastic Scottish introducer?
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agent69
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Post by agent69 on Jan 14, 2017 17:52:10 GMT
Is it my imagination or did 399 draw down today?
I thought everyone at AC towers went to their weekend retreats on a Saturday
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happy
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Post by happy on Jan 14, 2017 19:07:11 GMT
it certainly did agent69 I got my allocation just after 1pm this afternoon, either they left the hampster on the wheel or Chris has some fancy automated procedure now! |
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mikes1531
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Post by mikes1531 on Jan 15, 2017 3:32:12 GMT
Is it my imagination or did 399 draw down today? it certainly did agent69 I got my allocation just after 1pm this afternoon... : Did you get all you asked for? I see there's a bit more than £5k on the SM at the moment, but I don't know whether it's been there since the loan went live -- which would mean demand was so low that everyone got what they asked for -- or whether it appeared later, perhaps because someone asked for more than they really wanted and decided to get rid of their excess sooner rather than later.
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happy
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Post by happy on Jan 15, 2017 9:13:03 GMT
I did get my full allocation although I didn't go for that much on the basis that it was arelatively high LTV second charge on commercial property with a first charge of over 40% of the valuation. My post-brexit/pre Article 50 cautious view is that is in a depressed market you could easily loose 50% of the second charge value which does not leave much headroom on this one.
When I looked yesterday I don't remember seeing any units for sale so would suspect these came back on thd SM later. However, I am not convinced the QAA based underwriting doesn't work this way anyway by releasing chuncks of loans back onto the SM after initial distribution, just my hunch.
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agent69
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Post by agent69 on Jan 15, 2017 9:27:02 GMT
Is it my imagination or did 399 draw down today? it certainly did agent69 I got my allocation just after 1pm this afternoon... but I don't know whether it's been there since the loan went live -- which would mean demand was so low that everyone got what they asked for I wasn't going to bother with this loan, but in the end I had some loose change sloshing around in my account so invested. When I noticed that it had drawn down there was availability on the SM. I guess people have a bit of a downer on second charge.
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oldgrumpy
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Post by oldgrumpy on Jan 18, 2017 13:57:44 GMT
I see that the borrowers at A**** Eng*****ing #38 (which was a startup company in 2013) are to be rewarded for consistent on time repayments and good business progress with a rate reduction from 11.25% to 8% on their upcoming new loan. However, with an LTV of nearly 84%, and security being on a hotchpotch of variables, maybe I will give them a miss this time round. 10% would have made me look again.
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mikes1531
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Post by mikes1531 on Jan 22, 2017 20:38:16 GMT
I see that the borrowers at A**** Eng*****ing #38 (which was a startup company in 2013) are to be rewarded for consistent on time repayments and good business progress with a rate reduction from 11.25% to 8% on their upcoming new loan. However, with an LTV of nearly 84%, and security being on a hotchpotch of variables, maybe I will give them a miss this time round. 10% would have made me look again. I see that the value of the Debenture has been cut about in half, and the value of the house has increased by nearly 20%. By the time the loan is released, however, the numbers may change again. I wouldn't have thought AC investors would have much enthusiasm for an 8% loan at 84% LTV.
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bigfoot12
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Post by bigfoot12 on Jan 23, 2017 22:08:26 GMT
Hi,
What have recent allocations been like on AC (say for £500k sized loans)? I stopped bothering a few months ago after spending ages reading the documentation and the forum and then getting £30. Is it worth returning?
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