SteveT
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Post by SteveT on Oct 27, 2016 8:01:55 GMT
The diamond loan has drawn down. As of now £2,436,144.56 is showing as available but only £244.23 of my much larger order has been filled. Any ideas why? Are others seeing a similar blockage? warn The GBBA criteria are here (click on "Automatic loan selection and diversification"): www.assetzcapital.co.uk/our-investment-accounts/gb-account/. I would interpret these as excluding it, but "property" is not defined. I've had no problem buying what I wanted (4 figures) both via the initial allocation and then a further top-up purchase.
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SteveT
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Post by SteveT on Oct 27, 2016 8:25:45 GMT
Edit: Thanks, SteveT. Brain dead on my part. It's been so long since I topped up at AC, I forgot to transfer the cash to my MLIA.  I once did the same and thereafter switched to routing all FP transfers straight into my MLIA by using the optional MLIA reference code. That said, it's now many months since I last moved any cash in that direction 😢
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Post by chielamangus on Oct 27, 2016 11:07:57 GMT
The diamond loan has drawn down. As of now £2,436,144.56 is showing as available but only £244.23 of my much larger order has been filled. Any ideas why? Are others seeing a similar blockage?Edit: Thanks, SteveT . Brain dead on my part. It's been so long since I topped up at AC, I forgot to transfer the cash to my MLIA. warn The GBBA criteria are here (click on "Automatic loan selection and diversification"): www.assetzcapital.co.uk/our-investment-accounts/gb-account/. I would interpret these as excluding it, but "property" is not defined. I did ask AC whether the Diamond loan was GBBA compliant but answer got I none.
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Post by lynnanthony on Oct 27, 2016 12:05:26 GMT
Edit: Thanks, SteveT . Brain dead on my part. It's been so long since I topped up at AC, I forgot to transfer the cash to my MLIA. I once did the same and thereafter switched to routing all FP transfers straight into my MLIA by using the optional MLIA reference code. That said, it's now many months since I last moved any cash in that direction 😢 I didn't realise that transferring straight to the MLIA was possible. Yep, it's right there under manage funds! Of course, having once set up a payment from my bank I never look at that section of the website. Has it always been there or is it relatively new? Anyway, thanks for pointing it out.
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SteveT
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Post by SteveT on Oct 27, 2016 12:07:55 GMT
It was added some time ago (6-9 months?), back in the days when requested user features were sometimes delivered 😉
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Greenwood2
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Post by Greenwood2 on Oct 27, 2016 15:20:43 GMT
Already arrived in TC accounts. I wouldn't have rolled into a new loan on TC so I'm not following to AC.
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agent69
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Post by agent69 on Oct 28, 2016 9:51:42 GMT
I wouldn't be at all surprised if a largish percentage of those funds were to swallow up the left-overs on AC. Just had the TC email confirming lots of money being repaid on the platform, but no need to move it as there are lots of good opportunities just over the horizon.
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mikes1531
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Post by mikes1531 on Oct 28, 2016 21:57:17 GMT
I did ask AC whether the Diamond loan was GBBA compliant but answer got I none. The question was asked in the loan's Q&A today, and the answer was No. Should we ask about the QAA/30DAA as well?
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bababill
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Post by bababill on Oct 29, 2016 1:38:02 GMT
The question was asked in the loan's Q&A, and the answer was Yes.
9th of Oct.
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mikes1531
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Post by mikes1531 on Oct 29, 2016 1:59:43 GMT
Should we ask about the QAA/30DAA as well? The question was asked in the loan's Q&A, and the answer was Yes. : Thanks for pointing that out. I'm afraid that may just be an interpretation. The actual Q&A was... Q: QAA eligible?
A: All secured business loans that pass Assetz Capital's strict credit policy may be held within the QAA.
And it raised a question in my mind -- Are all loans on the AC platform " secured business loans that pass Assetz Capital's strict credit policy"?
Why did the answer include all those qualifying adjectives? Why not just say "Any AC loan may be held within the QAA"? Do AC have a strict credit policy and a not quite so strict credit policy? Are all AC loans business loans? I would have thought some of the loans were more personal in nature. Does 'secured' mean just any security, or does it have to be a 1st or 2nd charge over land or property as is needed for a loan to be held in the GBBA? Perhaps I'm just being excessively pedantic and cynical.
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Post by jevans4949 on Oct 30, 2016 1:05:49 GMT
Should we ask about the QAA/30DAA as well? The question was asked in the loan's Q&A, and the answer was Yes. : Thanks for pointing that out. I'm afraid that may just be an interpretation. The actual Q&A was... Q: QAA eligible?
A: All secured business loans that pass Assetz Capital's strict credit policy may be held within the QAA.
And it raised a question in my mind -- Are all loans on the AC platform " secured business loans that pass Assetz Capital's strict credit policy"?
Why did the answer include all those qualifying adjectives? Why not just say "Any AC loan may be held within the QAA"? Do AC have a strict credit policy and a not quite so strict credit policy? Are all AC loans business loans? I would have thought some of the loans were more personal in nature. Does 'secured' mean just any security, or does it have to be a 1st or 2nd charge over land or property as is needed for a loan to be held in the GBBA? Perhaps I'm just being excessively pedantic and cynical. Think you'll find that they have to be secured mainly against bricks and mortar, rather than personal guarantees or other business assets, which tend to disappear when the excrement hits the air circulation device.
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tarq
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Post by tarq on Oct 31, 2016 20:39:14 GMT
There seems to be quite a few 'windmill' loans coming up.
Has anyone had experience of these types of loans?
Not much information showing.
TIA.
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Post by pepperpot on Oct 31, 2016 21:52:08 GMT
No-one has lost a penny on AC windy deals so far, so they are well rehearsed in them, but don't be fooled by the low looking LTV's on these, the whole deal when fully drawn will be just shy of 70% LTV. The GEIA will take a large proportion of these as well, so the availability for MLIA accounts will be extremely limited.
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mikes1531
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Post by mikes1531 on Nov 1, 2016 4:00:10 GMT
The GEIA will take a large proportion of these as well, so the availability for MLIA accounts will be extremely limited. Do we think there's a lot of money in GEIAs that's waiting to be invested? My tiny one, which has been around since the very early GEIA days, is 99.8% invested. Or perhaps they'll take most of these and use them to displace all the WT loans that are supposed to be repaid in mid-Nov -- though that date has slipped from mid-Aug.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Nov 1, 2016 5:47:37 GMT
There seems to be quite a few 'windmill' loans coming up. Has anyone had experience of these types of loans? Not much information showing. TIA. A few concerns leap to mind for me. 1 "windmill" they most certainly are not as they do not have mill wheels nor will yhey produce milled products. Country concentration issues with all being in NI. Changes from initial planning from 30m to 50m towers with larger blades but same max power output. Why do this as the costs will increase significantly with no change in revenue? Issues elsewhere with new green tech is of concern. feed in rules, tradung of rocs and future values...... Loan rules for NI need to be fully understood by a.c. solicitors to ensure security stacks up. other sites have come unstuck on this if memory serves. I support new tech where I can in power generation or waste management and this set of loans looks good long term imho. S
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