ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 29, 2017 11:22:18 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 #355 had an additional drawdown in mid Jan, its the remainder of this that is on the SM not the original loan. That said there is a potential issue due to the closeness of the planned commissioning date to the FIT cut off, if missed the loan would default. Also non-GEIA.
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Post by Ton ⓉⓞⓃ on Jan 29, 2017 15:40:59 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 #355 had an additional drawdown in mid Jan, its the remainder of this that is on the SM not the original loan. That said there is a potential issue due to the closeness of the planned commissioning date to the FIT cut off, if missed the loan would default. Also non-GEIA. Perhaps I'm out of date or just misunderstanding, but as 355 is in N.I. dates don't really matter so much, well at all. Is there something else here I'm missing? I guess at some point many of these WT loans will become GEIA-able as the LTV drops.
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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 Jan 29, 2017 16:18:05 GMT
#355 had an additional drawdown in mid Jan, its the remainder of this that is on the SM not the original loan. That said there is a potential issue due to the closeness of the planned commissioning date to the FIT cut off, if missed the loan would default. Also non-GEIA. Perhaps I'm out of date or just misunderstanding, but as 355 is in N.I. dates don't really matter so much, well at all. Is there something else here I'm missing? I guess at some point many of these WT loans will become GEIA-able as the LTV drops. I was going on the Q&A (not in the loans but am trying to catch up with AC stuff so Im reading all comms). However, having now looked at the original CR it relates to NIROC income which wouldnt be secured if the commissioning date is missed. However, there are further comments in CR2 saying that is the delay is down to NIE then the commisioning date requirement for NIROC would be extended. Borrower/MS seem confident all their stuff will be done on time. Just mentioned it as possible impact on loan take up. Any drop in LTV will be offset by additional drawdowns so probably wont be GEIA elligible until after Apr.
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sl75
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Post by sl75 on Jan 30, 2017 8:19:49 GMT
... I see it's +70% LTV means it does not qualify for the GEIA ... The GEIA product page says "The maximum loan-to-value ratio for individual loans included in the GEIA is 71% of the value of any assets used to secure a loan." Therefore, it seems to me that at 70.65% LTV this one SHOULD be eligible... maybe an AC configuration error?
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lobster
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Post by lobster on Jan 30, 2017 9:58:03 GMT
411 wind turbine deal (drew down yesterday?) £475k of a £650k loan available on the SM. Anyone know why it's unpopular?
Approx £475,000 on the SM yesterday. Precisely £100 on the SM today !!
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happy
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Post by happy on Jan 30, 2017 10:28:19 GMT
411 wind turbine deal (drew down yesterday?) £475k of a £650k loan available on the SM. Anyone know why it's unpopular?
Approx £475,000 on the SM yesterday. Precisely £100 on the SM today !!Thats because the GEIA has just gobbled it all up. Looks like they fixed the under 71% issue sl75
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mikes1531
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Post by mikes1531 on Feb 4, 2017 23:27:24 GMT
Thats because the GEIA has just gobbled it all up. Looks like they fixed the under 71% issue sl75 Did AC just change the criterion from 70% to 71%? If so, might they have done that in order to make this loan GEIA-eligible?
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happy
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Post by happy on Feb 5, 2017 8:49:03 GMT
Thats because the GEIA has just gobbled it all up. Looks like they fixed the under 71% issue sl75 Did AC just change the criterion from 70% to 71%? If so, might they have done that in order to make this loan GEIA-eligible? I think the limit was always 71% but in this case the GEIA didn't buy any for quite a while but then took a big chunk it seems, maybe needed some encouragement from someone in the AC office to get it started.
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sl75
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Post by sl75 on Feb 6, 2017 15:03:18 GMT
Did AC just change the criterion from 70% to 71%? If so, might they have done that in order to make this loan GEIA-eligible? I think the limit was always 71% but in this case the GEIA didn't buy any for quite a while but then took a big chunk it seems, maybe needed some encouragement from someone in the AC office to get it started. I would be surprised if the system were able to "magically" detect loans eligible for the GBBA or GEIA without someone within AC's staff marking the loan in some way as to which (if any) investment accounts it is compatible with (subject to other criteria that can be determined automatically such as LTV, etc.) My guess was that AC failed to mark the loan as GEIA-eligible, noticed this soon after they got into the office last Monday morning, and marked it appropriately. The Q&A response later that day appears to confirm this.
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agent69
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Post by agent69 on Mar 5, 2017 11:09:41 GMT
Anyone know what happened to 430?
Drew down the end of last week, but my request for a small portion appears to have fallen on stony ground. Did the packaged accounts get it all, or is that bloody hamster playing up again?
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oldgrumpy
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Post by oldgrumpy on Mar 5, 2017 11:21:29 GMT
Allocation £0.00 so far. Quite often these days there is a delay post-drawdown before allocations are made, but not usually several days, with no explanation for the delay from an increasingly (it seems) disinterested office when it comes to keeping lenders informed.
I wonder if the interest (already reduced to 8% compared with the earlier Caerphilly loan) is paid from last week*, or from the day AC activate the allocations. That could save AC a few £ interest.
edit: I see repayments are due on 3rd of the month, so interest will appear to run from last Friday.
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Post by lynnanthony on Mar 5, 2017 15:21:11 GMT
It's the weekend. Nothing happens at the weekend.
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ton27
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Post by ton27 on Mar 6, 2017 21:09:32 GMT
As is increasingly the case, nothing ever happens on AC. Lower rates, lower allocations to MLIA and so difficult to keep money invested at a half decent rate.
As a (potential - will the "event" ever happen?) shareholder I hope AC are making lots of money but, if so, they will do it with rapidly decreasing amounts of my cash.
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agent69
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Post by agent69 on Mar 7, 2017 18:13:52 GMT
Steps back in amazement.
362 finally drawn down
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ton27
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Post by ton27 on Mar 7, 2017 21:05:42 GMT
Re 430 - typically a half decent loan where the allocation is £140 on a "bid" of £1000. AC is slowly (perhaps quickly) alienating its MLIA investors and going for the extra margins the GBBA offers (I got the same amount in my GBBA A/C).
There are other opportunities, albeit, decreasing on other platforms.
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