j
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Penguins are very misunderstood!
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Post by j on Mar 19, 2014 22:38:03 GMT
The historical situation with this size of loan is that underwriters will be required at some stage. Assuming this will be the case, although I've been proved wrong more than one occasion in the past, I will be waiting for the aftermarket and avoiding any drawdown delays. I know AC compensate for these delays but never to the level of returns available in the aftermarket which is fairly active ATM. My sentiments too as I've had the experience of being bitten by bidding on previous larger loans which became amply available on AM afterwards, only to have funds unavailable to diversify into other loans as they also became available on AM in between.
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bugs4me
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Post by bugs4me on Mar 19, 2014 22:55:02 GMT
The historical situation with this size of loan is that underwriters will be required at some stage. Assuming this will be the case, although I've been proved wrong more than one occasion in the past, I will be waiting for the aftermarket and avoiding any drawdown delays. I know AC compensate for these delays but never to the level of returns available in the aftermarket which is fairly active ATM. My sentiments too as I've had the experience of being bitten by bidding on previous larger loans which became amply available on AM afterwards, only to have funds unavailable to diversify into other loans as they also became available on AM in between. It only really bothers or concerns me with these short term loans. Any delays simply eat into the projected returns. I know AC work hard on trying to keep these delays to a minimum but often there are third parties holding things up - sometimes IMO deliberately but that's maybe me being a bit harsh.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 22, 2014 15:15:52 GMT
Full credit report & other documentation now available
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 22, 2014 19:17:14 GMT
£64k pledged. The sooner those incentives are announced, the more funds might be bid
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j
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Penguins are very misunderstood!
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Post by j on Mar 23, 2014 9:05:02 GMT
Now with £500k worth of underwriting. I'm sure there will be more along the way
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j
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Penguins are very misunderstood!
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Post by j on Mar 23, 2014 10:14:08 GMT
60% filled
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Post by Ton ⓉⓞⓃ on Mar 23, 2014 12:15:04 GMT
I keep looking at the entrance photo with the tree in the almost middle of the road. That is the tree with the preservation order on? How will a removal pantechnicon van get past it? Would that slow the houses being sold?
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Post by whitmanthecat on Mar 26, 2014 14:16:18 GMT
I keep looking at the entrance photo with the tree in the almost middle of the road. That is the tree with the preservation order on? How will a removal pantechnicon van get past it? Would that slow the houses being sold? I've had a look at the planning stuff on the council website and I think that tree does have a preservation order on it. However, the road will be realigned to have a smoother radius that gives a tad more clearance of the tree. However, the overgrown bit to the left of the tree on the photo will become the communal bin store, perhaps acknowledging that reversing a dustcart or similar large vehicle is not going to be the easiest job. It should still be possible, as various plant, scaffolders, etc have managed to get into the site for the work so far. I can't think awkward, but possible, removals access would have any impact on a purchase decision of a buyer.
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j
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Penguins are very misunderstood!
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Post by j on Mar 28, 2014 19:09:16 GMT
Now 100% funded but, presumably will stay open to remove more underwriting
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mikes1531
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Post by mikes1531 on Mar 28, 2014 19:14:09 GMT
Now 100% funded but, presumably will stay open to remove more underwriting I presume so. The underwriters will have been paid for their £1.5M commitment. If they end up having to fund a bit less than that I would think they'd be pleased.
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Post by Ton ⓉⓞⓃ on Mar 28, 2014 19:22:08 GMT
I keep looking at the entrance photo with the tree in the almost middle of the road. That is the tree with the preservation order on? How will a removal pantechnicon van get past it? Would that slow the houses being sold? I've had a look at the planning stuff on the council website and I think that tree does have a preservation order on it. However, the road will be realigned to have a smoother radius that gives a tad more clearance of the tree. However, the overgrown bit to the left of the tree on the photo will become the communal bin store, perhaps acknowledging that reversing a dustcart or similar large vehicle is not going to be the easiest job. It should still be possible, as various plant, scaffolders, etc have managed to get into the site for the work so far. I can't think awkward, but possible, removals access would have any impact on a purchase decision of a buyer. That's an excellent piece of work whitmanthecat, now it will be an asset to the development. Now 100% funded but, presumably will stay open to remove more underwriting I presume so. The underwriters will have been paid for their £1.5M commitment. If they end up having to fund a bit less than that I would think they'd be pleased. In some of the earlier auctions it seems that the UW money comes in reality at the last moment, perhaps like shadow bids. Keeping the UW cost for AC to a minimum.
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mikes1531
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Post by mikes1531 on Mar 29, 2014 2:39:16 GMT
I presume so. The underwriters will have been paid for their £1.5M commitment. If they end up having to fund a bit less than that I would think they'd be pleased. In some of the earlier auctions it seems that the UW money comes in reality at the last moment, perhaps like shadow bids. Keeping the UW cost for AC to a minimum. I'm sure it is true that the underwriters don't actually provide the funds until drawdown is imminent. But that wasn't my point. On an earlier occasion, someone suggested that AC's underwriting costs would be reduced if they left an underwritten loan available after the normal end of the auction for lenders to bid out the underwriters. IIRC, the response received indicated that underwriters were paid a fee just for committing their funds, and that fee would still be payable even if lenders placed more bids before drawdown and the underwriters ended up having to provide less funds than they committed to supply earlier in the auction process.
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Post by Ton ⓉⓞⓃ on Oct 1, 2014 15:50:00 GMT
In the Q&A
It seems the Borrower is asking for a smaller amount than originally asked for how much less we don't yet know, previously it was £1.67m
No info on when re-auction might happen.
IN EDIT. I should've said 'Please check your pre-bids before leaving the cabin' I'm leaving them as they are, there might have been some commitment/cashback money for those that leave the bids in, but it was so many lives ago I can't remember the state of affairs... As in April Cashback.
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mikeb
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Post by mikeb on Oct 1, 2014 17:32:48 GMT
Dunno about April Cashback eligibility.
There should be 2.5% for the 4 weeks to 30/4/14 to 28/5/14 on bids in the original auction (still waiting, as the auction hasn't re-run and drawn down).
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mikes1531
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Post by mikes1531 on Oct 1, 2014 19:18:40 GMT
IN EDIT. I should've said 'Please check your pre-bids before leaving the cabin' I'm leaving them as they are, there might have been some commitment/cashback money for those that leave the bids in, but it was so many lives ago I can't remember the state of affairs... As in April Cashback. According to an earlier posting... We've paid out the first round of the april cashback offer. If there's a couple of loans that haven't been included as they've not paid out yet. As and when they are drawn down we'll recalculate the cashback figures and pay out the balance. IIRC WSM was one of those delayed loans, so it ought to trigger a further cashback payment for people who placed bids during the offer period.
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