merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
Likes: 302
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Post by merlin on Nov 20, 2013 10:56:51 GMT
Something is stirring! A big investment dropped in the pot a short while ago and now its 36% subscribed.
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mark
Posts: 163
Likes: 166
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Post by mark on Nov 20, 2013 11:08:16 GMT
The delayed up to date valuation on the AC website by Edward Symmons in October 2013 was due by the 19th. This could be a sign that its available although not published on the L**ds documents at present
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Post by andrewholgate on Nov 20, 2013 12:32:25 GMT
In the next hour we will show that the loan is fully underwritten (which it now is) and that the rate has improved for lenders. We have been working hard to get this over the line, but we are now there. There will also be a fuller valuation available soon.
Thank you for your patience.
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Post by chris on Nov 20, 2013 13:44:07 GMT
This has all been reflected on the site now, and the existing bids have had their rate updated to reflect the better rate now on offer.
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agent69
Member of DD Central
Posts: 6,044
Likes: 4,437
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Post by agent69 on Nov 20, 2013 17:50:13 GMT
What's the likelihood of this closing in 5 days time as advertised (or will it keep getting extended to try to get rid of the underwriting element)
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Nov 20, 2013 17:54:41 GMT
I just had an e-mail including the phrase: To make sure you get the chance to participate in this loan, bid now as the loan is due to drawdown by the end of next week.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Nov 20, 2013 18:45:24 GMT
I have a feeling that this will sell out before the due closure time and the underwriters won't be needed. Could be wrong but at the rate it is currently filled so far today I don't think so. Having done a lot of trolling around on this one I think Assetz have set the rate right on the button. Only hope it runs for the full time span and does not get renegotiated elsewhere at a lower rate after a year or so.
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Nov 21, 2013 23:54:55 GMT
Only hope it runs for the full time span and does not get renegotiated elsewhere at a lower rate after a year or so. ISTM that this is a big risk for all loans at high interest rates. Unless there's a high loan 'arrangement' fee, as soon as the borrower's financial position improves they'll have a huge incentive to replace the Assetz loan with another loan at a lower rate. So it wouldn't surprise me if a lot of these 3-year and 5-year loans turn out to be two years or less. Any early repayments can be reinvested -- as long as Assetz can continue to find similar borrowers. But that might be easier said than done. Another disadvantage of a shortened loan term is that it increases the impact of the 'dead' time between request fulfilment and loan drawdown.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Nov 25, 2013 9:50:48 GMT
I have a feeling that this will sell out before the due closure time and the underwriters won't be needed. Could be wrong but at the rate it is currently filled so far today I don't think so. Having done a lot of trolling around on this one I think Assetz have set the rate right on the button. Only hope it runs for the full time span and does not get renegotiated elsewhere at a lower rate after a year or so. With just over a day to go this one has only a few % left to go to "private" investors. Could do with a few more of like this and I will cease to even consider some of the more risky FC auctions!
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mark
Posts: 163
Likes: 166
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L**DS C P
Nov 30, 2013 11:12:47 GMT
via mobile
Post by mark on Nov 30, 2013 11:12:47 GMT
Good news on this one. Now showing as drawndown as of today 30/11.
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Post by batchoy on Nov 30, 2013 11:23:12 GMT
Good news on this one. Now showing as drawndown as of today 30/11. I thought my 'Your Accepted Bids' list looked shorter
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mark
Posts: 163
Likes: 166
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Post by mark on Nov 30, 2013 11:27:43 GMT
A nice surprise for a Saturday. Congrats to all at AC for the short close to drawdown time on this substantial loan.
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andy2001
Member of DD Central
Posts: 361
Likes: 34
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Post by andy2001 on Dec 8, 2013 21:11:07 GMT
Just got some more of these loan parts in the after market. Still some left at time of writing. Had an error at first but it worked when I switched to Chrome from IP. That may have been as it was corrected in the time I was logging in in Chrome I'm not sure.
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Post by chris on Dec 8, 2013 21:22:26 GMT
Just got some more of these loan parts in the after market. Still some left at time of writing. Had an error at first but it worked when I switched to Chrome from IP. That may have been as it was corrected in the time I was logging in in Chrome I'm not sure. Hi Andy, Can you let me know any details of the error? Nothing was showing in the error logs and usually errors are emailed over to me as they happen but nothing was received.
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andy2001
Member of DD Central
Posts: 361
Likes: 34
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Post by andy2001 on Dec 8, 2013 21:29:30 GMT
It just said there was an error, and to please try again. Never said anything else about the type of error. This was in Internet Explorer. I did send an email to Assetz, then tried using Chrome instead, and it worked.
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