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Post by chielamangus on Oct 10, 2014 19:26:11 GMT
Most puzzling. Mine hoovered up too, apart from token amounts left in each. Each to his/her own, I suppose  If you're confident the loan will be repaid very soon, and your reinvestment options still will be available when it does, then 18% interest for a few days could sound very attractive. And I see someone who obviously isn't so confident has put some Ipswich up for sale after the last of the previous lot had been snapped up. Fairly confident about Hackney but I've moved on - peace of mind has cost me about £10. Not confident about the rest and glad to be out! However, given the success story with the Manchester business man (well done, AC!) these loans are probably all OK and it's just my risk-averse nature ....
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Post by mrclondon on Oct 10, 2014 19:46:39 GMT
I've been having a major clearout of AC's bridging loans over the last couple of weeks mainly on LTV grounds if a fire sale is required, but continue to hold Hackney as I'm confident of repayment soon and of the valuation if things still go pear shaped. The only other large holding I have is Epping which I intend to drop onto the AM early next week.
I do get concerned when I see things like the block of Bolton thats been around for a couple of weeks being snapped up. The loan q&A makes it clear that there is a distinct risk of the security not being sufficeint to cover capital + accrued interest if a forced sale via LPA receivers is required. Is 18% adequate for such a risk ? It isn't for me thats for sure.
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Post by bengilbert on Oct 14, 2014 11:56:21 GMT
Latest update - 'all parties are aiming to complete the refinance this Thursday, 16 October 2014'.
Interesting to see what will happen on the SM if that £2.175 million plus a couple of months of default interest gets paid out.
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Post by whitmanthecat on Oct 14, 2014 12:44:04 GMT
Interesting to see what will happen on the SM if that £2.175 million plus a couple of months of default interest gets paid out. Maybe a unit or two of London Retail 1 or 2 might get bought 
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 16, 2014 18:09:16 GMT
This has gone unanswered in the Q&A today: "assuming all goes well today, when would the money be creditted to our accounts?"
Do we think we're looking at another 'Unfortunately............etc.' tomorrow? Or else money in our accounts?
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Bagman
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Post by Bagman on Oct 16, 2014 18:53:16 GMT
This has gone unanswered in the Q&A today: "assuming all goes well today, when would the money be creditted to our accounts?" Do we think we're looking at another 'Unfortunately............etc.' tomorrow? Or else money in our accounts?
Well the Manc Bridge was credited to our accounts at about 10pm last Thursday night, so it COULD still be on for tonight 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 16, 2014 19:08:30 GMT
This has gone unanswered in the Q&A today: "assuming all goes well today, when would the money be creditted to our accounts?" Do we think we're looking at another 'Unfortunately............etc.' tomorrow? Or else money in our accounts?
Well the Manc Bridge was credited to our accounts at about 10pm last Thursday night, so it COULD still be on for tonight
But we had had an email earlier telling us Manc it was coming. Seems unlikely that we havent had any indication at all so afraid Im in the 'Unfortunately.....' sceptic camp. However, the Piggy Squadron is on standby for a celebatory flypast just in case.
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Post by Ton ⓉⓞⓃ on Oct 16, 2014 22:15:49 GMT
This has gone unanswered in the Q&A today: "assuming all goes well today, when would the money be creditted to our accounts?" Do we think we're looking at another 'Unfortunately............etc.' tomorrow? Or else money in our accounts? I think what AC are doing now is giving answers to these kind of questions when they hit the date that was set in the last update in 'Recent Activity'. i.e. "Next update by 20th" (say) when the questions are all going to be about the same thing. If you look at the 'Recent Activity' tab for Hackney the very last line of the latest update says something like that.
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mikes1531
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Post by mikes1531 on Oct 16, 2014 22:28:19 GMT
This has gone unanswered in the Q&A today: "assuming all goes well today, when would the money be creditted to our accounts?" Do we think we're looking at another 'Unfortunately............etc.' tomorrow? Or else money in our accounts? I think what AC are doing now is giving answers to these kind of questions when they hit the date that was set in the last update in 'Recent Activity'. i.e. "Next update by 20th" (say) when the questions are all going to be about the same thing. If you look at the 'Recent Activity' tab for Hackney the very last line of the latest update says something like that. I think it's pretty safe to suggest that considering the time and the lack of a "Whooppee!!" email, this loan wasn't repaid on Thursday. So I'm in the 'Unfortunately...' camp. The good news is that if you really believe this loan is going to be repaid very soon, there are some units available on the Aftermarket that would produce an 18% return for a short investment. And if you're quick, you could obtain that return for tonight as well!
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 17, 2014 14:56:38 GMT
Not an update, as such, but an answer in the Q&A this afternoon which clearly implies the payment hasn't been made: "An update is being urgently sought. Please be assured that we are pushing to complete this as quickly as possible." So, not quite "Unfortunately.....etc", but perhaps a pre-cursor to it? I won't mind (as long as interest continues to accrue and actually gets paid of course..............).
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Post by cyrilmadrid on Oct 17, 2014 15:37:07 GMT
A few of the outstanding deals where finally scheduled for refinancing today. So I expected 4-5 of these reimbursements today. None have happened so far  |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 17, 2014 15:39:39 GMT
Hmmm! Currently 0 from 3 on loans allegedly being repaid today. Think the Piggy Squadron can probably stand down, 'whether' not suitable for porcine aeronautics! EDIT may have spoken too soon first email from DR1 just appeared though not for these loans EDIT 2 Nope |
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oldgrumpy
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Post by oldgrumpy on Oct 17, 2014 15:41:38 GMT
Not an update, as such, but an answer in the Q&A this afternoon which clearly implies the payment hasn't been made: " An update is being urgently sought. Please be assured that we are pushing to complete this as quickly as possible." So, not quite "Unfortunately.....etc", but perhaps a pre-cursor to it? I won't mind (as long as interest continues to accrue and actually gets paid of course..............). Hi Rosie Don't fret. We've had today's "unfortunately" on "North Wales" draw down etc. 
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j
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Post by j on Oct 17, 2014 17:07:17 GMT
17th Oct 2014 at 17:15 Lender Update
You will be aware that the above-mentioned loan was due to be repaid yesterday.
Despite numerous attempts yesterday afternoon and all day today to speak to the introducer we have been unable to speak to him.
We have now left a message for him informing him that unless we have an update on the current situation by 11am Monday morning then a demand letter will be immediately issued and the legal process started on the appointment of an LPA Receiver to recoup lenders' funds by that means.
As soon as we have a further update on the situation we will inform lenders.
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shimself
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Post by shimself on Oct 17, 2014 17:51:04 GMT
17th Oct 2014 at 17:15 Lender Update ... Despite numerous attempts yesterday afternoon and all day today to speak to the introducer we have been unable to speak to him....... I think we probably have a right to know the name of the introducer (on every loan), what say you?
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