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Post by bracknellboy on Sept 17, 2015 19:20:53 GMT
As much as I understand the principle, I can't entirely get my head around transactions and loan parts etc. being visbiliy shown as swilling round the system in units of as low as 20+ dps of one of her majesty's new pence*. I had an instant access withdrawl from my QAA to my GEIA of <1p today to fund a purchase. I suppose I should be grateful that in so doing it was clearing it of some overhanging shrapnel: on the other hand perhaps it was creating some overhanging shrapnel. Who knows. I'm going for a lie down.
*Apologies to Jeremy C if he's reading this.
Edit: Do I assume that AC have now implemented an automated way of tracking votes, or implemented a threshold holding requirement for participation ? Or is david ricketts still required to potentially manually track vote responses from lenders holding 10-x p of a loan ? I need a longer lie down than I originally envisaged.
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jonah
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Post by jonah on Sept 17, 2015 19:46:07 GMT
Thanks to a date or two moving there are now 6 loans targeting the 2nd of October. Whilst I would love that sort of deal flow if it was consistent, this feels potentially optimistic. If successful I assume it will prove the QAA though.  |
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Post by chris on Sept 17, 2015 20:31:29 GMT
Thanks to a date or two moving there are now 6 loans targeting the 2nd of October. Whilst I would love that sort of deal flow if it was consistent, this feels potentially optimistic. If successful I assume it will prove the QAA though. They were all supposed to be September loans but slipped, so whilst it's optimistic they all hit the same day they should all drop around the same time.
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mikes1531
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Post by mikes1531 on Sept 17, 2015 22:02:26 GMT
Thanks to a date or two moving there are now 6 loans targeting the 2nd of October. Whilst I would love that sort of deal flow if it was consistent, this feels potentially optimistic. If successful I assume it will prove the QAA though. It certainly would prove the worth of the QAA, but the £1M QAA limit will be a restraining factor. Those 2/Oct loans total £3.6M, so a minimum of £1.8M will be released when they draw down. If the release is more like the 70% seen with #174, then £2.5M would be released. While lenders might be happy to leave money earning 3.75% in the QAA in advance so it's available at drawdown, I'd question how many actually will do that when they realise the probability that their money would be stuck in the queue and earning nothing. Maybe they won't realise. Or maybe AC will have raised the QAA limit by then.
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Post by lynnanthony on Sept 17, 2015 22:36:24 GMT
Thanks to a date or two moving there are now 6 loans targeting the 2nd of October. Whilst I would love that sort of deal flow if it was consistent, this feels potentially optimistic. If successful I assume it will prove the QAA though. It certainly would prove the worth of the QAA, but the £1M QAA limit will be a restraining factor. Those 2/Oct loans total £3.6M, so a minimum of £1.8M will be released when they draw down. If the release is more like the 70% seen with #174, then £2.5M would be released. While lenders might be happy to leave money earning 3.75% in the QAA in advance so it's available at drawdown, I'd question how many actually will do that when they realise the probability that their money would be stuck in the queue and earning nothing. Maybe they won't realise. Or maybe AC will have raised the QAA limit by then. Speaking only for myself, I'm here to invest in individual loans. The ones I pick. The only way to get any sizeable investment is to get into loans as they draw down. The only way to get into loans as they draw down is to have the money there waiting. I was doing that before the QAA came along. That some of that money is now earning interest in the QAA is great, but does not alter my "strategy" such as it is. (Are you really going to miss out on 10% for several years because you can't get 3.75% for a couple of weeks?)
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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 Sept 18, 2015 15:00:03 GMT
#191 funds called SBSB bar
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Post by lynnanthony on Sept 18, 2015 15:43:55 GMT
New loans to look at:
201 - Llandudno Hotel (actually a re-submission of loan 142)
202 - Commercial mortgage on office building in Yorkshire
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agent69
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Post by agent69 on Sept 18, 2015 16:15:07 GMT
New loans to look at: 201 - Llandudno Hotel (actually a re-submission of loan 142) Welsh hotel, borrower currently has IVA, 75% of trade from passing coaches. Get a feeling of deja vu with this one.
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mikeb
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Post by mikeb on Sept 18, 2015 17:29:14 GMT
New loans to look at: 201 - Llandudno Hotel (actually a re-submission of loan 142) 202 - Commercial mortgage on office building in Yorkshire Was 12 loans, + 2 new loans, now 13 loans. Rounding error? Where did the other loan go? Ah: #196 Armley L P D ... the bulging pipeline now has a leak! It that one dead in the water, or just resting?
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jonah
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Post by jonah on Sept 18, 2015 18:00:32 GMT
New loans to look at: 201 - Llandudno Hotel (actually a re-submission of loan 142) 202 - Commercial mortgage on office building in Yorkshire Another half a million should help keep the hordes at bay for another few, well, days?
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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: 11,333
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Post by ilmoro on Sept 18, 2015 18:22:34 GMT
New loans to look at: 201 - Llandudno Hotel (actually a re-submission of loan 142) 202 - Commercial mortgage on office building in Yorkshire Was 12 loans, + 2 new loans, now 13 loans. Rounding error? Where did the other loan go? Ah: #196 Armley L P D ... the bulging pipeline now has a leak! It that one dead in the water, or just resting? Guess it depends whether they can resolve the planning wrinkle
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Post by crabbyoldgit on Sept 21, 2015 20:36:20 GMT
Am thinking about putting some money on 201 the welsh hotel but its had a previous attempt at a loan , there is probably a story here .Can anybody inform, have just applied to go pink maybe there is more info there which is not proper to this forum. Got a bit of time or a lot of time! until drawdown so can wait until access granted if required . thanks
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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: 11,333
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Post by ilmoro on Sept 21, 2015 21:27:24 GMT
Am thinking about putting some money on 201 the welsh hotel but its had a previous attempt at a loan , there is probably a story here .Can anybody inform, have just applied to go pink maybe there is more info there which is not proper to this forum. Got a bit of time or a lot of time! until drawdown so can wait until access granted if required . thanks Not much to know. Took 5 months trying to sort out legals so AC pulled it. Never actually got past UW stage from what I can tell. The 1 page CR on the old loan is identical to the first page of the current CR except rate has dropped from 12% and last 3 years figures in table have been revised down significantly. No other docs provided
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mikes1531
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Post by mikes1531 on Sept 21, 2015 22:55:42 GMT
The 1 page CR on the old loan is identical to the first page of the current CR except rate has dropped from 12% and last 3 years figures in table have been revised down significantly. This is interesting. The financial figures appear to look worse than they did before -- since that's historical data which shouldn't have changed, does that suggest that the previous data was wrong? -- and yet the interest rate has gone down significantly. AC have claimed that they set their interest rates based on risk rather than on demand, so how can they justify the much lower rate for this reincarnated loan? Perhaps someone should ask that in the loan's Q&A.
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Post by chris on Sept 22, 2015 6:12:59 GMT
The 1 page CR on the old loan is identical to the first page of the current CR except rate has dropped from 12% and last 3 years figures in table have been revised down significantly. This is interesting. The financial figures appear to look worse than they did before -- since that's historical data which shouldn't have changed, does that suggest that the previous data was wrong? -- and yet the interest rate has gone down significantly. AC have claimed that they set their interest rates based on risk rather than on demand, so how can they justify the much lower rate for this reincarnated loan? Perhaps someone should ask that in the loan's Q&A. I'll check in with the team on the specifics here but when we price for risk that sets the floor in the price which can then be revised upwards for liquidity reasons if it's needed.
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