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Post by chris on Feb 22, 2016 16:13:28 GMT
My instruction for #227 has been filled and there is over £2,000,000 available now. Mine too. I think chris 's comment means all the buying orders have been filled and the £2M left over was unsubscribed. There may be a significant further amount unsubscribed if the underwriters/QAA have released only the minimum 50% of their holdings that they're required to release. How long will it take for the market to absorb all those available parts? And will that affect subscriptions for other loans drawing down while there's still a significant overhang from #227? That £2m represents everything in the compulsory sale account of the underwriters. Anything not in there the underwriters will be looking to keep for the time being. Regardless of #227's currently amount left over the rate of growth the platform wants this year, and that we need to achieve in order to cope with the expected loans drawing down, will make that £2m or so a splash in the ocean. The short term target is £8-10m of loans drawing down each month, routinely, as a minimum. February has hit that through Duffield, I expect March will fall a little short but the internal prediction is that we'll hit it, but then April onwards will be strongly into that region again. There's a new lender marketing campaign launching soon and I've added dozens of management reports to our system in the last few days to cover all manner of KPIs for the management and marketing teams. So I don't think absorbing #227 is going to be an issue over the next few months, and if anything it will be good to have a handful of loans like that one giving new lenders stock they can immediately invest into. Once I get my revised GBBA diversification algorithm up and running that too will improve matters by helping the GBBA soak up more and more of #227 and any other large qualifying loans like that one that come along over the next few months.
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agent69
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Post by agent69 on Feb 22, 2016 18:00:43 GMT
Drawdown looks to have freed up some offerings on the SM, but hardly any extra space in the QAA (appears to have dropped by about £500k since yesterday.
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agent69
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Post by agent69 on Feb 22, 2016 18:41:27 GMT
Drawdown looks to have freed up some offerings on the SM, I might be imagining things, but I thought about 40 minutes ago there was £140k of the anaerobic digestion for sale, and now it's gone.
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Post by chris on Feb 22, 2016 19:30:09 GMT
Drawdown looks to have freed up some offerings on the SM, I might be imagining things, but I thought about 40 minutes ago there was £140k of the anaerobic digestion for sale, and now it's gone. There's been £215k traded this week in that loan, £150k today.
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Post by Ton ⓉⓞⓃ on Feb 22, 2016 21:07:53 GMT
With #227 the repayment schedule looks a little odd chris , did they ask for the 29th as the repayment day rather than the 22nd? (retained Interest) |
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Post by chris on Feb 22, 2016 21:17:27 GMT
With #227 the repayment schedule looks a little odd chris , did they ask for the 29th as the repayment day rather than the 22nd? (retained Interest) Payments are supposed to be aligned with the 29th of each month, ie. the end of the month. There's a display issue on the first payment which puts it a month later than it should be - a quirk of how the payments were set up. Each individual amount should be right though and all the dates except that first one.
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mikes1531
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Post by mikes1531 on Feb 22, 2016 22:49:56 GMT
It looks like #225 has missed its expected drawdown date yet again.
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oldgrumpy
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Post by oldgrumpy on Feb 22, 2016 23:41:54 GMT
It looks like #225 has missed its expected drawdown date yet again. #225 did appear in the drawndown loans for a short while, then returned into "upcoming".
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oldgrumpy
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Post by oldgrumpy on Feb 23, 2016 16:28:46 GMT
AC are taking things one day at a time. Today's update, moving drawdown by one day again to tomorrow, has been accompanied by removal of some of the previous one-a-day updates.
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baz657
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Post by baz657 on Feb 23, 2016 17:59:55 GMT
Now I see the real reason for the QAA. Sussed the thinking behind it at AC Towers. It's to stop us (investors both here on the forum and out in the real world) having a real and proper moan after transferring funds in when we were told the loan should be going live and consequently drawing them back out after getting continuous drawdown delays.
Clever, devious plan. It works for me.
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tonyr
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Post by tonyr on Feb 24, 2016 21:30:14 GMT
AC are taking things one day at a time. Today's update, moving drawdown by one day again to tomorrow, has been accompanied by removal of some of the previous one-a-day updates. Another day, another delay, I guess we'll see #225 rewriting history again tomorrow.
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Post by crabbyoldgit on Feb 25, 2016 9:23:52 GMT
Am i alone in starting to feel 225 is getting a little silly what else can delay this, latest thing seems a solicitor has not turned up for work, well if he got what still laying me low after 5 days now i send my heart felt condolences ,however a company dealing in deals of this size cant be reliant on on individual especially as the endless delays over this would have given anyone time to get all there ducks in line and polish their bills and feet 3 times.If this does not happen today i suggest an unexpected breakfast meeting 0530 at the principles house may focus minds as i seem to remember a member of this forum sayed he used to deploy.
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Post by Deleted on Feb 25, 2016 10:09:50 GMT
I'm trying to remember the original draw down target. Was it April 2015?
Still it is exciting, having that money just sat there ready to go bang off to fund such a vital element of our infrastructure, a true proof that P2P is a worthwhile activity to ensure we keep our laptops turned on.
Still shrapnelator still working fine.
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dermot
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Post by dermot on Feb 25, 2016 10:10:42 GMT
Am i alone in starting to feel 225 is getting a little silly what else can delay this, latest thing seems a solicitor has not turned up for work, well if he got what still laying me low after 5 days now i send my heart felt condolences ,however a company dealing in deals of this size cant be reliant on on individual especially as the endless delays over this would have given anyone time to get all there ducks in line and polish their bills and feet 3 times.If this does not happen today i suggest an unexpected breakfast meeting 0530 at the principles house may focus minds as i seem to remember a member of this forum sayed he used to deploy. My experience of legal matters on the island of Ireland is that this is not uncommon - selling a house there once was stretched out by about 10 months of legal jiggerypokery ... One hopes they have a sufficient stock of oak gall to be ground down for making ink - and that sufficient quills are in stock for manufacturing writing instruments... DD
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oldgrumpy
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Post by oldgrumpy on Feb 25, 2016 10:20:20 GMT
Did I read somewhere that it may have to be moved because the contractor built it in the valley ... "to keep out of the draught"?
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