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Post by pepperpot on Feb 8, 2014 12:46:54 GMT
Two new (related) bridges just been listed. Total value £3.85m! I'll have a rummage down the back of the sofa.
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Post by Lep Recorn on Feb 8, 2014 12:59:46 GMT
No indication (yet?) if the loans are being underwritten, if not they might take a while to fill . . . .
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Feb 8, 2014 13:02:10 GMT
They both state that there will be underwriting.
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agent69
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Post by agent69 on Feb 8, 2014 13:28:10 GMT
1% a month for 6 months.
Same old problem that if it takes 6 weeks to draw down it ain't worth it.
PS I don't buy the very quick draw down. I've heard it too many times before (like the £2m loan on TC that was going to draw down before Christmas, and has just had the offer extended to mid February).
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oldgrumpy
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Post by oldgrumpy on Feb 8, 2014 13:43:45 GMT
"PS I don't buy the very quick draw down..."
I think Andrew has probably tightened up on the drawdown predictions (can't say promises!) since the poor record with all those A***n deals in October/November. I suppose it doesn't matter on these whoppers. We can just wait until the underwriters start offloading them on the aftermarket.
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Post by batchoy on Feb 8, 2014 13:44:40 GMT
PS I don't buy the very quick draw down. I've heard it too many times before (like the £2m loan on TC that was going to draw down before Christmas, and has just had the offer extended to mid February). With receivers wanting to put the Ipswich property up for auction it could be drawn down very quickly or not at all. There is one student block due to go under the hammer in Ipswich on the 13th. If it is the one, it would explain the Saturday listing and the early Monday auction.
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agent69
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Post by agent69 on Feb 8, 2014 14:01:53 GMT
PS I don't buy the very quick draw down. I've heard it too many times before (like the £2m loan on TC that was going to draw down before Christmas, and has just had the offer extended to mid February). With receivers wanting to put the Ipswich property up for auction it could be drawn down very quickly or not at all. There is one student block due to go under the hammer in Ipswich on the 13th. If it is the one, it would explain the Saturday listing and the early Monday auction. Makes you wonder how people get themselves into this mess. Think the Grumpy strategy is best. Wait for the aftermarket.
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unmadem
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Post by unmadem on Feb 8, 2014 15:07:52 GMT
Chris, since you put up the notice of the site being down for maintenance at 10 on Monday, these 2 auctions have been posted to start at that time.
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Post by chris on Feb 8, 2014 15:18:46 GMT
Chris, since you put up the notice of the site being down for maintenance at 10 on Monday, these 2 auctions have been posted to start at that time. Yeah, left hand meet right hand  The server downtime will be postponed.
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j
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Post by j on Feb 10, 2014 21:56:59 GMT
Two new (related) bridges just been listed. Total value £3.85m! I'll have a rummage down the back of the sofa. Have decided to hold fire on these until underwriters sell on aftermarket. My small bid would hardly make a dent whether I did or didn't 
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Post by andrewholgate on Feb 11, 2014 13:45:14 GMT
j1 - Common thought. As I said in my email a few weeks ago, wouldn't it be nice to be able to rid ourselves of the auction process and go straight for performing loan units? Would that make a big difference to you? Seems to work for LI (or Montello Bridging).
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Post by batchoy on Feb 11, 2014 13:54:53 GMT
j1 - Common thought. As I said in my email a few weeks ago, wouldn't it be nice to be able to rid ourselves of the auction process and go straight for performing loan units? Would that make a big difference to you? Seems to work for LI (or Montello Bridging) Its an interesting thought, but AC would lose the crowd diligence and so could end up with underwritten loans that nobody wanted to pick on the secondary market, and there would not necessarily be opportunity to ask relevant questions
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Post by pepperpot on Feb 11, 2014 14:05:51 GMT
j1 - Common thought. As I said in my email a few weeks ago, wouldn't it be nice to be able to rid ourselves of the auction process and go straight for performing loan units? Would that make a big difference to you? Seems to work for LI (or Montello Bridging). Very big! My only concern would be that rates might need to drop in order to pay for the extra effort on your side? Even now it's the uncertainty of possibly having funds tied up for up to 4 weeks in something that doesn't end up getting off the ground that's holding me back. Shadow bidding helps, but it's down to a bit of guesswork on your side and a lot of guesswork on my side to get that working optimally. batchoy - presumably loans could still be listed for preview and Q&A whilst in the pipeline?
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Post by andrewholgate on Feb 11, 2014 15:42:59 GMT
I like the idea of crowd DD and wouldn't want to stop that.
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pikestaff
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Post by pikestaff on Feb 11, 2014 16:19:45 GMT
I agree.
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