unmadem
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Post by unmadem on Dec 14, 2015 15:26:48 GMT
preston bridging 208 - underwriting called
EDIT - actually called a couple of days ago, and posted by the ever vigilant ilmoro
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oldgrumpy
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Post by oldgrumpy on Dec 14, 2015 16:19:35 GMT
Ah, good. Two loans very likely to draw down this Friday.
I do hope, now that AC has stated that will be retaining an unspecified portion of each loan for QAA and GBBA purposes, that they can look at the total and spread of buying instructions by Wednesday (or latest Thursday), and provide us with an approximate informed forecast (+ or - c20%) about the likely maximum MLIA allocations on drawdown.
I do hope to be able to allocate my own resources sensibly, avoiding transferring excessive amounts into my MLIA, or selling of too many other (now overweight) investments.
Yours expectantly
G.Rumpy Esq. (old)
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bg
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Post by bg on Dec 14, 2015 16:33:31 GMT
Ah, good. Two loans very likely to draw down this Friday. I do hope, now that AC has stated that will be retaining an unspecified portion of each loan for QAA and GBBA purposes, that they can look at the total and spread of buying instructions by Wednesday (or latest Thursday), and provide us with an approximate informed forecast (+ or - c20%) about the likely maximum MLIA allocations on drawdown. I do hope to be able to allocate my own resources sensibly, avoiding transferring excessive amounts into my MLIA, or selling of too many other (now overweight) investments. Yours expectantly G.Rumpy Esq. (old) Yeah but you just know that whatever they do, people will use it as a stick to beat them with. If they say 2 days before the expected drawdown is x.....then a load of people set new targets then people will moan they only got x/2 and have cash earning zero. Likewise if they say x and a load of people decide against it and remove their target then people will moan that 2x was allocated and they didn't know to put the funds in!
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oldgrumpy
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Post by oldgrumpy on Dec 14, 2015 16:39:42 GMT
I'm sure AC can express suitable caution re a predicted estimate spread, and not attempt to present it as precise.
Shift of allocation from £40+ to £1400+ in Galashiels was totally AC engineered. Future engineering can certainly narrow down that kind of uncertainty.
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sl75
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Post by sl75 on Dec 14, 2015 17:16:09 GMT
Ah, good. Two loans very likely to draw down this Friday. I do hope, now that AC has stated that will be retaining an unspecified portion of each loan for QAA and GBBA purposes, that they can look at the total and spread of buying instructions by Wednesday (or latest Thursday), and provide us with an approximate informed forecast (+ or - c20%) about the likely maximum MLIA allocations on drawdown. I do hope to be able to allocate my own resources sensibly, avoiding transferring excessive amounts into my MLIA, or selling of too many other (now overweight) investments. I don't see it really matters how much of a buying target is met from the "allocation on drawdown", and how much from further purchases during the following days or weeks as other lenders or investment accounts adjust their targets. Typically, every drawdown will tend to make a buying opportunity for other loans, as other lenders and investment funds adjust their portfolio to accommodate the new loan. I certainly picked up pieces of a good range of other loans over the weekend, in addition to my full desired allocation of #199. The QAA getting involved going forward will probably amplify this effect, as it seems it will be taking large exposures to new loans, and selling them down over the following days/weeks as and when further loans draw down, so I would increasingly expect to see targets filling piecemeal rather than necessarily all at once.
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ianb
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Post by ianb on Dec 14, 2015 17:32:16 GMT
I don't see it really matters how much of a buying target is met from the "allocation on drawdown", and how much from further purchases during the following days or weeks as other lenders or investment accounts adjust their targets. It matters a lot to me ! If I'm only going to get a pittance on drawdown (and its likely this pittance isnt going to grow much - like loans 191 & 209), then i wouldnt bother reading any of the loan documentation, creating entries for it in my .xls or either selling off existing investments beforehand or moving cash in to fund it.
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oldgrumpy
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Post by oldgrumpy on Dec 14, 2015 17:59:27 GMT
Ah, good. Two loans very likely to draw down this Friday. I do hope, now that AC has stated that will be retaining an unspecified portion of each loan for QAA and GBBA purposes, that they can look at the total and spread of buying instructions by Wednesday (or latest Thursday), and provide us with an approximate informed forecast (+ or - c20%) about the likely maximum MLIA allocations on drawdown. I do hope to be able to allocate my own resources sensibly, avoiding transferring excessive amounts into my MLIA, or selling of too many other (now overweight) investments. I don't see it really matters how much of a buying target is met from the "allocation on drawdown", and how much from further purchases during the following days or weeks as other lenders or investment accounts adjust their targets.... Yes, "you don't see..." It matters to me. I don't want to make £2000 cash available on Wednesday, when AC may know full well I am (for instance) only likely to be allocated £400 + £400 (plus or minus a hundred or so).
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Post by crabbyoldgit on Dec 15, 2015 4:44:01 GMT
It would be nice if 219 drew down first then the returned funds for the old loan 120 would be available for 208 elegant and efficient transfer of money .Could this be arranged AC?
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sl75
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Post by sl75 on Dec 15, 2015 11:26:17 GMT
Yes, "you don't see..." It matters to me. I don't want to make £2000 cash available on Wednesday, when AC may know full well I am (for instance) only likely to be allocated £400 + £400 (plus or minus a hundred or so). Nobody's forcing you to make £2000 of cash available - if you don't want to, then don't! You also seem to be ignoring the other effect should become even stronger going forwards; that the remaining £1200 can be deployed not only to additional units that become available of the newly-drawn-down loans, but also to use as an opportunity to get closer to your desired target investment in other previously-drawn-down loans. Indeed, the drawdown of (say) loan D would typically represent a great buying opportunity for loans A, B and C, as some manual investors, and increasingly the AC investment accounts, will redeploy funds towards loan D, partly funded by selling off what they now consider excess holdings in the earlier loans. The "trick" seems to be to maintain buying instructions across the entire range of loans for which you wish to gain further units, rather than attempting to buy specific loan units at specific moments... and with the QAA now acting to smooth out the drawdown process (by taking a large stake in the loan at the moment of drawdown and selling it off over the following days/weeks) the importance of having funds available at the exact moment of drawdown should be even further reduced.
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oldgrumpy
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Post by oldgrumpy on Dec 15, 2015 11:33:31 GMT
Nobody's forcing you to make £2000 of cash available - if you don't want to, then don't!
The point is (on these hypothetical figures) I shouldn't need to make £2000 cash available to enable the securing and then buying of 2 X £400 tranches if AC know that is approximately what I will be allocated. I would be making £2000 available in the hope/expectation of getting 2 x c£1000 of loan parts.
All that about what I could do with the other £1200 (assuming I've actually got it!) is irrelevant.
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mikes1531
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Post by mikes1531 on Dec 15, 2015 14:28:54 GMT
It would be nice if 219 drew down first then the returned funds for the old loan 120 would be available for 208 elegant and efficient transfer of money .Could this be arranged AC? Inasmuch as #219 (£200k) is going to be used to pay off #120 (remaining capital £74k), why haven't AC offered anyone with a holding in #120 the chance to transfer their investment into the new loan if they wish to. Without that option, anyone wanting to roll their investment forward would have to provide cash from elsewhere up front to fund their investment in #219 and then have to redeploy their #120 investment funds very shortly thereafter. chris: Is the AC IT system currently capable of doing such a rollover? If so, do you know if offering a rollover option was considered and rejected? Or was it not even considered?
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Post by chris on Dec 15, 2015 14:44:25 GMT
It would be nice if 219 drew down first then the returned funds for the old loan 120 would be available for 208 elegant and efficient transfer of money .Could this be arranged AC? Inasmuch as #219 (£200k) is going to be used to pay off #120 (remaining capital £74k), why haven't AC offered anyone with a holding in #120 the chance to transfer their investment into the new loan if they wish to. Without that option, anyone wanting to roll their investment forward would have to provide cash from elsewhere up front to fund their investment in #219 and then have to redeploy their #120 investment funds very shortly thereafter. chris : Is the AC IT system currently capable of doing such a rollover? If so, do you know if offering a rollover option was considered and rejected? Or was it not even considered? Yes the system is technically capable of doing so. It's not code that's been used recently so should be tested first. It's also a bit complicated as there's no UI for that process, it's something triggered behind the scenes manually. Not been asked if it's possible in this instance. There is a plan to build a UI for this in the future but it's not a current priority. Edit: I should add that with the client money rules the timing is very important, so it's possibly been decided that it's not an applicable procedure in this instance.
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agent69
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Post by agent69 on Dec 15, 2015 18:40:34 GMT
Currently at a 10 week low. Was only a couple of weeks ago that experts were reminding us of the fact that the index always goes up in December. By experts you mean drones who have to just come up with any old copy because space has to be filled. They clearly forgot that most Decembers don't have an almost certain US rate hike in the middle of them and an oil market share war - d**kh**ds, the lot of them. Edit: Still, they could end up being right in the end - there's a good chance it will reverse back up whether the rate is hiked or not - such is the way of the markets  it's not too late for a Santa rally to build up uk.finance.yahoo.com/news/where-ftse-100-santa-rally-091500591.html
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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 Dec 15, 2015 19:03:17 GMT
#220 has appeared, drawdown scheduled for Fri 9.5% 12m
Edit: Same borrower as #120/219, new project
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ianb
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Post by ianb on Dec 15, 2015 19:58:20 GMT
Nobody's forcing you to make £2000 of cash available - if you don't want to, then don't!
The point is (on these hypothetical figures) I shouldn't need to make £2000 cash available to enable the securing and then buying of 2 X £400 tranches if AC know that is approximately what I will be allocated. I would be making £2000 available in the hope/expectation of getting 2 x c£1000 of loan parts.
All that about what I could do with the other £1200 (assuming I've actually got it!) is irrelevant.
AC responded to the Q's I'd been raising on the 3 loans for Friday and i responded with a 'not very helpful' email. I rang up Martin and spoke for almost an hour rather than get in an email or forum scrap. Summary of it is that they do sympathise and understand what we are saying.... but there is nothing they can do directly to assuage the grumblings due to over demand in all accounts and targets/funds in each shifting by the minute...but they will try and add 'something' which will give us an indication. Just have to see if that helps, and maybe i'll stick some cash in Friday and pull any excess the next day, and maybe i wont.
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