bugs4me
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Post by bugs4me on Jul 14, 2015 9:20:07 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! There certainly is a great deal available and I'd sooner be in this loan rather than a couple of the distressed loans paying a higher interest - which of course you've still got to collect whatever it may say on the screen.
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Post by mrclondon on Jul 14, 2015 10:01:57 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! On my first quick evaluation of this one when it first appeared, I noted it was losss making and likely to continue to be so for some time to come. The public schools sector has been operating on tight margins ever since Labour abolished the assisted places scheme (state funding for bright but poor kids) in '97 contary to their stated policy of wishing to improve social mobility. That resulted in a steady loss of places / income over the following 7 years as the scheme unwound, and many schools were barely breaking even when the crash and recession of 2008 occured. Quite a number of public schools have opted to change their status to become free schools since 2010 retaining their "independence" but with state funding ("independence" in quotes because they have considerably less freedom e.g. they are leant on very heavily not to offer the more acedemically challenging iGCSE in place of GCSE's). I haven't looked any further into this one, but would want to be convinced that it was capable of being switched to free school status if the governors felt bankrupcy was looming, otherwise the security valuation might be questionable. This school struck me as being on the small side, not sure whether thats a good or bad thing.
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bugs4me
Member of DD Central
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Post by bugs4me on Jul 14, 2015 10:15:31 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! On my first quick evaluation of this one when it first appeared, I noted it was losss making and likely to continue to be so for some time to come. The public schools sector has been operating on tight margins ever since Labour abolished the assisted places scheme (state funding for bright but poor kids) in '97 contary to their stated policy of wishing to improve social mobility. That resulted in a steady loss of places / income over the following 7 years as the scheme unwound, and many schools were barely breaking even when the crash and recession of 2008 occured. Quite a number of public schools have opted to change their status to become free schools since 2010 retaining their "independence" but with state funding ("independence" in quotes because they have considerably less freedom e.g. they are leant on very heavily not to offer the more acedemically challenging iGCSE in place of GCSE's). I haven't looked any further into this one, but would want to be convinced that it was capable of being switched to free school status if the governors felt bankrupcy was looming, otherwise the security valuation might be questionable. This school struck me as being on the small side, not sure whether thats a good or bad thing. Agree with your sentiments and whether the school can move into worthwhile profitable status (which I hope it does) we will have to wait and see. I'm comfortable though with the valuers report as there appears to be plenty of headroom on this - unlike some of the other offerings in the past IMO.
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jonah
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Post by jonah on Jul 14, 2015 17:16:43 GMT
#188 Another WT added to the pipeline. Another 11 potentially to follow, should keep the GEIA going! Mind if I ask where the 11 figure comes from?
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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
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Post by ilmoro on Jul 14, 2015 17:23:38 GMT
#188 Another WT added to the pipeline. Another 11 potentially to follow, should keep the GEIA going! Mind if I ask where the 11 figure comes from? Latest Activity post
‘The Borrower’s parent company has a further eleven sites to roll out over the next year or so, and successful financing of this loan will facilitate the opportunity for further loans of this size from this source.'
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Post by Ton ⓉⓞⓃ on Jul 14, 2015 19:14:05 GMT
Mind if I ask where the 11 figure comes from? Latest Activity post
‘The Borrower’s parent company has a further eleven sites to roll out over the next year or so, and successful financing of this loan will facilitate the opportunity for further loans of this size from this source.'There was a similar statement made with the N.Irish WT, which was never drawn.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jul 14, 2015 21:27:36 GMT
On my first quick evaluation of this one when it first appeared, I noted it was losss making and likely to continue to be so for some time to come. The public schools sector has been operating on tight margins ever since Labour abolished the assisted places scheme (state funding for bright but poor kids) in '97 contary to their stated policy of wishing to improve social mobility. That resulted in a steady loss of places / income over the following 7 years as the scheme unwound, and many schools were barely breaking even when the crash and recession of 2008 occured. Quite a number of public schools have opted to change their status to become free schools since 2010 retaining their "independence" but with state funding ("independence" in quotes because they have considerably less freedom e.g. they are leant on very heavily not to offer the more acedemically challenging iGCSE in place of GCSE's). I haven't looked any further into this one, but would want to be convinced that it was capable of being switched to free school status if the governors felt bankrupcy was looming, otherwise the security valuation might be questionable. This school struck me as being on the small side, not sure whether thats a good or bad thing. Agree with your sentiments and whether the school can move into worthwhile profitable status (which I hope it does) we will have to wait and see. I'm comfortable though with the valuers report as there appears to be plenty of headroom on this - unlike some of the other offerings in the past IMO. No loan is risk free & this one is no exception but, the low ltv & decent future prospects(barring anothervery bad downturn) nake it one that is more feasible to succeed than others - famous last words!
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Post by Ton ⓉⓞⓃ on Jul 15, 2015 14:54:26 GMT
Has the car showroom loan died a death, gone to that great car park in the sky?
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Post by pepperpot on Jul 15, 2015 15:05:24 GMT
Has the car showroom loan died a death, gone to that great car park in the sky? I hope that doesn't turn out to be a poor choice of phrase, email sent out yesterday contained - "shareholders have suffered serious personal/family issues in the last week which have meant they are no longer currently able to press forward with their plans to expand the company at this time"
(maybe sent to only those with targets set?)
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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
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Post by ilmoro on Jul 15, 2015 15:05:31 GMT
Has the car showroom loan died a death, gone to that great car park in the sky? Got pulled as the borrowers personal circumstances changed suddenly so couldnt commit to expansion plan
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Post by pepperpot on Jul 15, 2015 15:07:17 GMT
Beat ya to it  |
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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 Jul 15, 2015 17:08:55 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! The last c.£170k suddenly disappeared from the AM this afternoon. Presumably, an underwriter behaving badly.
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mikes1531
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Post by mikes1531 on Jul 15, 2015 17:27:07 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! The last c.£170k suddenly disappeared from the AM this afternoon. Presumably, an underwriter behaving badly. I know AC insist that underwriters offer a portion of their holding on the SM at drawdown. Might there be a time limit on that, such that if those holdings haven't been snapped up by retail investors after a few days then an underwriter who wants to hold on to their parts for a bit longer is permitted to take them off the market? (Pure speculation on my part.)
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Post by chris on Jul 15, 2015 18:15:38 GMT
The last c.£170k suddenly disappeared from the AM this afternoon. Presumably, an underwriter behaving badly. I know AC insist that underwriters offer a portion of their holding on the SM at drawdown. Might there be a time limit on that, such that if those holdings haven't been snapped up by retail investors after a few days then an underwriter who wants to hold on to their parts for a bit longer is permitted to take them off the market? (Pure speculation on my part.) No time limit and a minimum 50% of the loan will be sold. This is automated and beyond the underwriter's control.
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Post by chris on Jul 15, 2015 18:18:47 GMT
Just double checked and there are no underwriter holdings left that must be sold.
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