pikestaff
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Post by pikestaff on Jan 23, 2017 23:19:13 GMT
bigfoot12 - It varies. Recent examples where I have bid: #403 £365k allocation £62.46 * #398 £250k allocation £423.30 * #396 £393k allocation £161.05 * #395 £385k allocation at least £500 (all I asked for) #394 £760k allocation at least £1,000 (all I asked for) #393 £810k allocation £370.55 * #392 £510k allocation at least £500 (all I asked for) * These are the amounts I have now. They may include small amounts that have trickled in since the original allocation. Not enough for me to add to funds on the platform but just enough to keep up with repayments and redemptions.
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mikes1531
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Post by mikes1531 on Jan 25, 2017 13:57:52 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? My recent experience with buy instructions is that if you have a long list of loans that you'd like to have more of there's enough SM activity that a significant amount can be bought. I've had no trouble reinvesting repayments received, and I've even managed to move out of some loans I'm overweight in and redeploy the money elsewhere. In general, I'd say that the AC SM has recovered from its period of inactivity and now is working more like it should -- JMHO, of course.
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iren
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Post by iren on Jan 25, 2017 14:34:03 GMT
Working as it should leaving aside the absurdity of the 100+ pages of transactions generated by my sale of a £750 loan yesterday, and the worst of both worlds scenario that can result in vast numbers of sub penny transactions being generated but not ridding you of a final atomic level element that leaves the loan attached to your portfolio.
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iren
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Post by iren on Jan 25, 2017 15:09:48 GMT
Love the valuation report for the new pub loan: "...whilst the premises are known to our firm, we do not have any conflict in undertaking this work…"  |
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adrianc
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Post by adrianc on Jan 26, 2017 8:54:02 GMT
Love the valuation report for the new pub loan: "...whilst the premises are known to our firm, we do not have any conflict in undertaking this work…" This one raises my eyebrows a bit - the CR gives the TripAdvisor reviews for the pub, but not the ones for the borrower's old pub, which are probably much more relevant. No wonder. They're thoroughly mediocre, with a lot of "terrible" 1*. One of them alleges a 1* Food Hygiene rating. Looking at the official "scores on the doors" site says 4* since a month or two after that review, but...
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oldgrumpy
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Post by oldgrumpy on Jan 27, 2017 18:05:11 GMT
#402 second charge >50%LTV 5.5%??
Come on AC! You are not being realistic now! 
I can envisage anyone taking this loan, and wanting to sell out of it in the future being confronted with a £100K "available" queue and exit from the loan will be highly unlikely. Liquidity has almost stopped on many of the 7%/8% loans, never mind 5.5%.
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Steerpike
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Post by Steerpike on Jan 27, 2017 19:51:58 GMT
Can't be long before the auto accounts drop the target rates, GBBA 7% is looking unsustainable.
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greatmarko
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Post by greatmarko on Jan 27, 2017 19:56:40 GMT
#402 second charge >50%LTV 5.5%??
Come on AC! You are not being realistic now!
When I got the email, I thought this was a typo and it should have perhaps read 8.5%... but then logged in and sure enough, it's listed as 5.5%! - I know rates have been dropping, but AC really are taking the biscuit with this one!!! What does AC seriously think the appeal to manual investors is for loans which are second charges, aren't protected by any Provision Fund and which offer a far LOWER return than the automated GBBA/GEIA accounts with fixed 7% returns and Provision Fund protection?! 
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Steerpike
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Post by Steerpike on Jan 27, 2017 20:00:42 GMT
It is a BTL mortgage at a very low LTV, 5.5% seems about right.
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Steerpike
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Post by Steerpike on Jan 27, 2017 20:05:40 GMT
Meanwhile the bundle of sub-prime uglies looks very interesting...
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jan 27, 2017 23:07:32 GMT
It is a BTL mortgage at a very low LTV, 5.5% seems about right. Not sure the LTV is low enough for AC's track record. If this loan recovered the same amount as loan #86, lenders would suffer a 60% loss. However, it would almost certainly be worse because first charge debt would likely rise before the property was sold. Of course, past performance shouldn't be used as a guide to future performance, it could be worse.
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agent69
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Post by agent69 on Jan 28, 2017 11:52:08 GMT
#402 second charge >50%LTV 5.5%??
Maybe you would prefer 8.5% soon to be available on 413. Borrower wants £2.7m to buy non performing loans at a discount from high street banks. An example discount of 60% is mentioned, but not clear how representative this is. I'm having a bit of a problem working out what the real value of the security is.
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oldgrumpy
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Post by oldgrumpy on Jan 28, 2017 12:32:03 GMT
#402 second charge >50%LTV 5.5%??
Maybe you would prefer 8.5% soon to be available on 413. Borrower wants £2.7m to buy non performing loans at a discount from high street banks. An example discount of 60% is mentioned, but not clear how representative this is. I'm having a bit of a problem working out what the real value of the security is. Errr! No. I thought dodgy loans were (sometimes appropriately) in the 12-18% range, available on certain platforms. There are plenty of (apparently) reasonable loans still around (including AC occasionally) in the 9-11% range, and LTVs <50% for 8-9%. I'll take the risk on those rather than be stuck at sub 6% because I can't resell later.
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agent69
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Post by agent69 on Jan 29, 2017 9:37:29 GMT
411 wind turbine deal (drew down yesterday?)
£475k of a £650k loan available on the SM. Anyone know why it's unpopular?
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happy
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Post by happy on Jan 29, 2017 9:55:46 GMT
Not sure there is anything fundamentally wrong with it so perhaps just general over-exposure to wind turbines.amongst MLIA investors. I see it's +70% LTV means it does not qualify for the GEIA which certainly does not help its chances of being fully subscribed. Just like #355 which looked OK but is still has +25% on the market 2 months after draw-down I think this may take many months to be absorbed fully
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