j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 26, 2014 0:12:54 GMT
And another bridging loan listed in London! Coming thick & fast now, as promised. I wonder what's on the menu the week after if this is only a taster   |
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Post by andrewholgate on Jan 27, 2014 10:09:34 GMT
funnily enough, I've just run my weekly pipeline meeting. More to come!
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Post by mrclondon on Jan 28, 2014 23:11:55 GMT
Full credit report is now on the website.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Jan 29, 2014 0:22:37 GMT
Full credit report is now on the website. thanks, off to have a look
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mikes1531
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Post by mikes1531 on Jan 29, 2014 3:35:23 GMT
With drawdown probably 2-3 weeks away, there will be some dead time required so the return to lenders investing tomorrow will be a percent or so below the nominal rate on the loan. Considering the amount of underwriting that's needed, I'm expecting a fair amount of this loan will end up in the secondary market, so I'm willing to take my chances and not invest at the beginning. I have therefore deleted my pre-bids.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 29, 2014 9:41:46 GMT
Whilst it may be counter productive in the sense that it might auction to close a little later, there is not much point in rushing & putting a pre-bid or proper bid in, unless cash back is worth it. I'm sure there'll be plenty of units later on the aftermarket, given the loan's size.
I'm off to re-read the report again properly, any thoughts, positive or otherwise would be greatly welcome on here & will help us make a more collectively educated decision.
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bugs4me
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Post by bugs4me on Jan 29, 2014 9:57:14 GMT
My thinking is to pick up on the after market rather than have funds tied up
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debeast
(o)(o)
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Post by debeast on Jan 29, 2014 10:11:03 GMT
With drawdown probably 2-3 weeks away, there will be some dead time required so the return to lenders investing tomorrow will be a percent or so below the nominal rate on the loan. Considering the amount of underwriting that's needed, I'm expecting a fair amount of this loan will end up in the secondary market, so I'm willing to take my chances and not invest at the beginning. I have therefore deleted my pre-bids. very sensible  Although i could earn a tad more i just invest when i have the time. Which one do you think of this board richer members will be the underwriter 
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Post by bengilbert on Jan 29, 2014 10:31:17 GMT
I lived in Hackney for quite a while and still have a flat there. I got the address of the properties from Assetz and it's in a good part of Hackney - near London Fields and not far from the border with Islington, if that means anything to anyone. It's not far from the tube too.
Happy to answer any questions about the area.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 29, 2014 10:45:30 GMT
I lived in Hackney for quite a while and still have a flat there. I got the address of the properties from Assetz and it's in a good part of Hackney - near London Fields and not far from the border with Islington, if that means anything to anyone. It's not far from the tube too.
Happy to answer any questions about the area. Thanks for the info. Any extra bits here & there will help us make a more informed decision
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 29, 2014 10:53:01 GMT
£600k worth of underwriting already in!
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Post by bengilbert on Jan 29, 2014 11:07:26 GMT
Not sure what I can add that helps, but - the bit of Hackney where the properties are is the part that's closer to the City / central London. The streets round there are mainly attractive Victorian terraces and there's a small park called London Fields nearby. It's become a popular place to live because it's a fairly calm residential area but also easy to get to the City or the centre. (I used to walk to work in the City) I think people were a bit wary of it as 'East London' some years back, but it's changed massively in the last 10-15 years.
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mikes1531
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Post by mikes1531 on Jan 29, 2014 16:31:50 GMT
£600k worth of underwriting already in! A bit more underwriting now -- £770k -- but still a long way to go. (£1.2M still needed.) Since the auction was set up with a short deadline -- the close of business on Friday -- I presume AC have some more underwriters on standby. I haven't figured out why the auction is set to end Friday afternoon rather than Monday morning. Surely they're not planning to draw down at 1800 on Friday, or during the weekend, so why not leave it available through the weekend in the hope that more small lenders would bid and relieve some of the pressure on the underwriters?
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bugs4me
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Post by bugs4me on Jan 29, 2014 17:11:08 GMT
£600k worth of underwriting already in! A bit more underwriting now -- £770k -- but still a long way to go. (£1.2M still needed.) Since the auction was set up with a short deadline -- the close of business on Friday -- I presume AC have some more underwriters on standby. I haven't figured out why the auction is set to end Friday afternoon rather than Monday morning. Surely they're not planning to draw down at 1800 on Friday, or during the weekend, so why not leave it available through the weekend in the hope that more small lenders would bid and relieve some of the pressure on the underwriters? Maybe there will still be the availability to bid after close to take out underwriting.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jan 29, 2014 17:13:41 GMT
Who's responsible for the drains in Hackney? Do they still pong?  |
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