mikes1531
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Post by mikes1531 on Apr 28, 2014 16:34:27 GMT
The AM seems to be pretty dead at the moment, though with AutoInvest it's impossible to know whether that's really the case. I expect the situation to change radically on 1/May with lots of parts becoming available. I expect everyone needs to check their AutoInvest settings before then. Over £800k of aftermarket transactions in the last week, £24k so far this morning. Aftermarket isn't too quiet  Thanks for the info. It's encouraging to know that the AM is so active. Unless I've slipped a decimal somewhere, this means that more than 3% of AC's loan parts changed hands last week. But perhaps that's to be expected if more than 10% of the parts still are in the hands of underwriters.
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Post by chris on Apr 28, 2014 16:40:46 GMT
We've always had a pretty fluid aftermarket with ~£8m traded so far since launch. This is accelerating nicely, bolstered somewhat with the increased use of underwriters although the trend was set before this happened.
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thebillet
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Post by thebillet on Aug 5, 2014 10:57:41 GMT
Update on refinance is now on the overview page, looks like a delay.
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unmadem
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Post by unmadem on Aug 5, 2014 10:58:17 GMT
Update on recent activity tab.
Looks like a problem with getting a full repayment on time. Default interest at 1.5% per month on any outstanding capital balance from 15 August 2014.
EDIT cross post with thebillet.
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kermie
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Post by kermie on Aug 5, 2014 18:28:40 GMT
I think this sort of delay is pretty much routine for 6 month bridging loans...to be expected, really. On this particular loan, I'm not concerned (as yet!  ). |
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Post by Ton ⓉⓞⓃ on Aug 5, 2014 19:00:04 GMT
I think this sort of delay is pretty much routine for 6 month bridging loans...to be expected, really. On this particular loan, I'm not concerned (as yet! ). I think the give-a-away that it wasn't going to pay on time was when they asked for a statement of how much they owed only month before it needed to be repaid. That sounds like about one month of default, unless they really chivvy the legals.
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thebillet
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Post by thebillet on Aug 5, 2014 20:59:06 GMT
Ah well I'll just have to put up with 1.5% per month I'm saving for a shed so it should help.
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j
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Post by j on Aug 12, 2014 12:20:26 GMT
I've tried to look for the info but might have missed it. Has there been any mention of the timeframe by which this loan will repay once it has gone into default? Or are we waiting for the second update by 15th Aug
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j
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Penguins are very misunderstood!
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Post by j on Aug 12, 2014 19:22:29 GMT
I've tried to look for the info but might have missed it. Has there been any mention of the timeframe by which this loan will repay once it has gone into default? Or are we waiting for the second update by 15th Aug Further to the q above, it seems units have sold steadily on AM over last few days! Is it really worth buying them to get the extra default rate when we don't really know how things will develop, or for how long the enhanced rate will last? It could be a week, a month or longer? Obviously some are happy to take the risk, even if it is very short-lived!
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Post by batchoy on Aug 12, 2014 19:38:46 GMT
I've tried to look for the info but might have missed it. Has there been any mention of the timeframe by which this loan will repay once it has gone into default? Or are we waiting for the second update by 15th Aug Further to the q above, it seems units have sold steadily on AM over last few days! Is it really worth buying them to get the extra default rate when we don't really know how things will develop, or for how long the enhanced rate will last? It could be a week, a month or longer? Obviously some are happy to take the risk, even if it is very short-lived! The way I read it, the borrower has the offer of a loan from another lender (which they have accepted) however it is not large enough to pay off the AC loan completely so we should get a partial repayment on the 14 th the remainder is being covered via another property so the shortfall could take some time depending on when work was started on releasing the additional funds. If the funds are being released by a property sale we could be talking 8-12 weeks similarly if the funds are being released via a loan against another property then it could take a similar amount of time depending on the legals.
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Post by Ton ⓉⓞⓃ on Aug 12, 2014 20:13:54 GMT
I've tried to look for the info but might have missed it. Has there been any mention of the timeframe by which this loan will repay once it has gone into default? Or are we waiting for the second update by 15th Aug Further to the q above, it seems units have sold steadily on AM over last few days! Is it really worth buying them to get the extra default rate when we don't really know how things will develop, or for how long the enhanced rate will last? It could be a week, a month or longer? Obviously some are happy to take the risk, even if it is very short-lived! There's a similarity between this and the South Manc loan. Tho' South Manc appeared a little more orderly. As regards your earlier q, I think you're fully upto date. IN EDIT But I'm four times heavier in South Manc. than Hackney so I do agree to some degree.
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Post by captainconfident on Aug 12, 2014 20:18:12 GMT
Ah well I'll just have to put up with 1.5% per month I'm saving for a shed so it should help. Saving for a shed, nice personal touch. I'm visualising you pouring over a shed catalogue. Considered a bridging loan from AC? Overlap apex roof with windows, or are you more of a pent roof with overlap man?
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j
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Penguins are very misunderstood!
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Post by j on Aug 12, 2014 20:40:42 GMT
Ah well I'll just have to put up with 1.5% per month I'm saving for a shed so it should help. Saving for a shed, nice personal touch. I'm visualising you pouring over a shed catalogue. Considered a bridging loan from AC? Overlap apex roof with windows, or are you more of a pent roof with overlap man? Incidentally, I am after a 2nd shed myself to put the little blighters in, or their stuff rather
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thebillet
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Post by thebillet on Aug 12, 2014 21:40:38 GMT
Settled on a 19mm log type, pitched roof and kitted out for the Mrs to move all the arts and craft stuff in, that'll teach her! Just got to sort the base, 3/4 done already, getting hooked on researching insulation materials, our grand little ones will actually be banned I have got to have somewhere that doesn't look like a war zone 10 minutes after they appear. Getting P2P rates makes doing this sort of stuff far easier, especially if we get 1.5 a month.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
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Post by j on Aug 12, 2014 21:44:17 GMT
our grand little ones will actually be banned after they appear. Och...try having the little &%£" 24/7  PS I am a nice & patient dad....when they're at school
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