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Post by andrewholgate on Jan 20, 2014 12:30:39 GMT
After a somewhat quiet start to the year we have a large number of loans to come through from today and right through February. A very brief overview is given below of what I expect to preview and start auction on in the next 5 days:
Building Contractor - £195,000 - Term loan
Wales Commercial property - £320,000 - Short term loan
Eco-deal Tranche 4 - £170,000
- Term loan
Furniture retailer - £650,000
- Term loan
SE Bridge deal - £290,000 - Bridge Loan
London Bridge (sic) deal - £1,000,000 - Bridge Loan
Property bridge deal - £160,000 - Bridge loan
Sorry for the delay in getting some of these live. As usual, ensuring we have done the right DD is paramount, plus ensuring drawdown timescales are minimised has also meant we have held back on a number of loans.
Andrew
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j
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Post by j on Jan 20, 2014 12:43:39 GMT
After a somewhat quiet start to the year we have a large number of loans to come through from today and right through February. A very brief overview is given below of what I expect to preview and start auction on in the next 5 days: Building Contractor - £195,000 - Term loan Wales Commercial property - £320,000 - Short term loan Eco-deal Tranche 4 - £170,000 - Term loan Furniture retailer - £650,000 - Term loan SE Bridge deal - £290,000 - Bridge Loan London Bridge (sic) deal - £1,000,000 - Bridge Loan Property bridge deal - £160,000 - Bridge loan Sorry for the delay in getting some of these live. As usual, ensuring we have done the right DD is paramount, plus ensuring drawdown timescales are minimised has also meant we have held back on a number of loans. Andrew Andrew, good to see activity again & plenty of it. Also good to see AC's pro activity in terms of taking action on draw down in your last comment. It proves you do listen to your members.
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oldgrumpy
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Post by oldgrumpy on Jan 20, 2014 12:58:44 GMT
Very timely. A certain building society which covers the whole country has just informed me that a three year bond matures in two weeks. The company is pleased to inform me that a 2.5% 5 year bond is available, so if Assetz can give me a better rate than that, it might persuade me to invest another £ (or three).   |
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Post by andrewholgate on Jan 20, 2014 13:58:07 GMT
Very timely. A certain building society which covers the whole country has just informed me that a three year bond matures in two weeks. The company is pleased to inform me that a 2.5% 5 year bond is available, so if Assetz can give me a better rate than that, it might persuade me to invest another £ (or three). The last time we offered anything as low as 10% per annum was in October. I'm sure the rate will be sufficient to allow you to get sufficient reward to buy more parthenocarpic musa acuminata produce.
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oldgrumpy
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Post by oldgrumpy on Jan 20, 2014 14:08:34 GMT
"The last time we offered anything as low as 10% per annum was in October. I'm sure the rate will be sufficient to allow you to get sufficient reward to buy more parthenocarpic musa acuminata produce."
:DResult!! Hominid speaketh my language!!! 
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agent69
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Post by agent69 on Jan 20, 2014 18:16:17 GMT
I see the environmental hot water man has just put in an appearance on the auction page
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mark
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New loans
Jan 21, 2014 0:02:25 GMT
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Post by mark on Jan 21, 2014 0:02:25 GMT
/thread" timestamp="1390222724" author=" oldgrumpy"]Very timely. A certain building society which covers the whole country has just informed me that a three year bond matures in two weeks. The company is pleased to inform me that a 2.5% 5 year bond is available, so if Assetz can give me a better rate than that, it might persuade me to invest another £ (or three). [/quote]The last time we offered anything as low as 10% per annum was in October. I'm sure the rate will be sufficient to allow you to get sufficient reward to buy more parthenocarpic musa acuminata produce.[/quote] Be aware of course, you have to take into account earning no interest with AC while you wait for three months or more in one loan example for your money to be drawn down and interest payments to commence and the affect this can have on returns or the possibility that ' borrrwers ' do not draw down your commited funds at all. There is a view on this forum that current loans waiting to be drawn down for months may not be drawn by possible unscrupulous borrowers and just used as an available credit line whilst they search for cheaper credit resulting in reduced or no returns on lenders tied up dead money. I'm referring bir******* bridg*** loan, L2L 7, slo*** loan and others.
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Post by andrewholgate on Jan 21, 2014 9:08:59 GMT
mark - Yes, yes, yes. I'm working hard to get that sorted out ASAP. Four of the troublesome drawdowns came from the same introductory source and we are working hard to resolve why that is. A
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Post by batchoy on Jan 21, 2014 9:36:07 GMT
Minor niggle on the Draft Credit report for A1401205807582 KBL, there is a k missing off the property value in the Loan Proposal Security sub section.
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markr
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Post by markr on Jan 21, 2014 11:45:16 GMT
After a somewhat quiet start to the year we have a large number of loans to come through from today and right through February. A very brief overview is given below of what I expect to preview and start auction on in the next 5 days: Is it worth me transferring some funds in, or are they all just going to be pre-bid out of existence by gold members or gone in 2 minutes as usual?
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oldgrumpy
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Post by oldgrumpy on Jan 21, 2014 12:00:28 GMT
No prebids available on the current two.
edit: System changed after I posted that!
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Post by chris on Jan 21, 2014 13:18:40 GMT
Why on the current two (and generally on Assetz) is one expressing the interest rate as 1.1% per month and the other as 10% per annum? Is it an indication that the 1.1% might only run for a few months? Yes, if the loan term is less than 12 months then it's expressed as a fee for that loan term.
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j
Member of DD Central
Penguins are very misunderstood!
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New loans
Jan 21, 2014 14:18:49 GMT
via mobile
Post by j on Jan 21, 2014 14:18:49 GMT
Why on the current two (and generally on Assetz) is one expressing the interest rate as 1.1% per month and the other as 10% per annum? Is it an indication that the 1.1% might only run for a few months? Yes, if the loan term is less than 12 months then it's expressed as a fee for that loan term. If I remember correctly, the report also said work will be for at least 9 mths, so almost for full 12mth term, hopefully
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Post by chris on Jan 21, 2014 15:08:42 GMT
It may be 12 months or less rather than being less than 12 months. I'd need to check internally whether that is supposed to be the case of if it's been slightly miscoded.
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Post by chris on Jan 21, 2014 15:40:32 GMT
It's awkward isn't it. On the one hand, the APR is 13.2% but the "expected" return is actually 9.9%. Which begs the question, why does it say 12 months? Is 12 months the maximum term? Question for the admin team as these descriptions are all under their control. I'll pass it on and they should get back to you with a definitive response.
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