|
|
Post by chris on Jan 24, 2014 17:35:06 GMT
Bidding restrictions on the Boiler Installer loan have now been lifted.
|
|
agent69
Member of DD Central
Posts: 6,042 
Likes: 4,437
|
Post by agent69 on Jan 25, 2014 12:37:59 GMT
Another bridging loan just appeared. Get your pre bids in
|
|
alison
Member of DD Central
Sanctuary!!
Posts: 356 
Likes: 99
|
Post by alison on Jan 25, 2014 12:54:57 GMT
Another bridging loan just appeared. Get your pre bids in Well spotted - thanks.
|
|
duck
Member of DD Central
Posts: 2,870
Likes: 6,913
Member is Online
|
Post by duck on Jan 25, 2014 18:08:08 GMT
Another bridging loan just appeared. Get your pre bids in Well spotted - thanks. Ditto
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Jan 25, 2014 21:53:26 GMT
It's also worth noting that we are more involved in the management of such property development deals than many of our competitors. For example the funds raised are never actually released to the developer but are paid directly to the contractors carrying out the work based on the achievement of set milestones. This protects lender funds and makes sure that even if the project falters and the developer defaults there should always be sufficient funds remaining in order to take the project through to completion - a much better situation than trying to sell a half finished project in order to try and recover lender's investments. However in this instance the funds form AC are identified in the credit report as "Loan is to facilitate purchase of two adjacent office blocks in Kidderminster for £ nnnk." i.e. the funds are being issued upfront and already committed in the property before the development starts. Had it been the other way round i.e. the developer is buying the property and the AC loan is funding the development and as you suggest then I would have been more comfortable. This struck me as well. It's nice to know that AC will be monitoring the progress of the development, but I couldn't work out what action AC could take if the monitoring agent determined that the project was running behind schedule and above budget or, for instance, wasn't expected to be in a position to refinance the project by the end of the 12-month loan period. Would AC care to comment?
|
|
andy2001
Member of DD Central
Posts: 361
Likes: 34
|
Post by andy2001 on Jan 25, 2014 23:27:55 GMT
New loan has been posted says this in the front page of the report, no other mention of cash back or how much.
"Cashback available to provide a return in period from auction close to implementation of “pre-pack” Administration."
|
|
|
|
Post by pepperpot on Jan 25, 2014 23:30:22 GMT
Another new loan listed, 5yr @ 13.5%.
edit: cross post with andy2001
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Jan 25, 2014 23:48:32 GMT
Another new loan listed, 5yr @ 13.5%. Another new loan posted -- at 2345!
|
|
agent69
Member of DD Central
Posts: 6,042
Likes: 4,437
|
Post by agent69 on Jan 26, 2014 8:49:22 GMT
This like the flood of loans on TC just before Christmas. Why don't they spread them out a bit.
Beware overdosing on bridging loans?
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Jan 26, 2014 9:24:54 GMT
This like the flood of loans on TC just before Christmas. Why don't they spread them out a bit. Beware overdosing on bridging loans? Andrew warned us that there would be a flush of loans towards the end of last week. Yes it would be nice to spread them out but life just isn't like that - just try waiting for a bus, none for an hour then three come at once - it's called queuing theory. But I am sure you knew all this anyway bye the way it seems to work the same way with defaults on FC!
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Jan 27, 2014 9:15:22 GMT
A few hundred pounds more & the boiler auction closes!
|
|
|
|
Post by chris on Jan 27, 2014 10:01:16 GMT
A few hundred pounds more & the boiler auction closes! And done.
|
|
agent69
Member of DD Central
Posts: 6,042
Likes: 4,437
|
Post by agent69 on Jan 27, 2014 19:03:23 GMT
I see a £210k A+ loan has just appeared.
Given the weight of opportunities currently available it will be interesting to see how far it gets beat down.
|
|
|
|
Post by chris on Jan 27, 2014 19:04:30 GMT
I see a £210k A+ loan has just appeared.
Given the weight of opportunities currently available it will be interesting to see how far it gets beat down. Wrong thread?
|
|
andy2001
Member of DD Central
Posts: 361
Likes: 34
|
Post by andy2001 on Jan 27, 2014 19:20:29 GMT
New Funding Circle loan of that size just posted so clearly the wrong thread.
|
|
