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Post by brianac on Jun 21, 2016 10:29:51 GMT
All seems a bit dotty to me. You're spot on there!  I think you should all be given a long sentence, - for crimes against puns. Brian
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Investboy
Member of DD Central
Trying to recover from P2P revolution
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Post by Investboy on Jun 21, 2016 11:40:27 GMT
If this won't stop I'll fall in a coma.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jun 21, 2016 12:09:35 GMT
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
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Post by jonno on Jun 21, 2016 12:24:29 GMT
It's alright for you lot, I'm convalescing having had half of my stomach removed. Left me with a semi-colon  |
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am
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Post by am on Jun 21, 2016 12:33:32 GMT
Is the problem the problem too great a proportion of the loan going to the packaged accounts, or too many MLIA borrowers wanting a slice of the pie?
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Post by andrewholgate on Jun 21, 2016 12:33:46 GMT
It's alright for you lot, I'm convalescing having had half of my stomach removed. Left me with a semi-colon When police seize drugs, do they label them with Hash Tags?
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Jun 21, 2016 12:35:43 GMT
It's alright for you lot, I'm convalescing having had half of my stomach removed. Left me with a semi-colon Ohhh! Get well soon jonno ! I felt it would have been cynical to "like" your post, despite the amusing joke! PS Was it the punctuation thread that inspired you, or my U- tube link?
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Jun 21, 2016 12:40:40 GMT
If andrewholgate gets angry because of us moaning about AC, will that be a "full strop" rather than a full stop?  |
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
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Post by jonno on Jun 21, 2016 12:47:19 GMT
It's alright for you lot, I'm convalescing having had half of my stomach removed. Left me with a semi-colon Ohhh! Get well soon jonno ! I felt it would have been cynical to "like" your post, despite the amusing joke! PS Was it the punctuation thread that inspired you, or my U- tube link? Both really; but yours was the supreme motivation I needed.
P.S don't worry about me. The only way I could lose half my stomach was if I lost about three stone 
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Post by chielamangus on Jun 21, 2016 13:01:20 GMT
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jun 21, 2016 13:18:22 GMT
If andrewholgate gets angry because of us moaning about AC, will that be a "full strop" rather than a full stop? Careful guys he'll be preparing his cut throat razor for revenge
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Post by Butch Cassidy on Jun 21, 2016 17:05:03 GMT
andrewholgate whilst you are on here perhaps you could also answer a couple;
Why was #166/#292 distributed in such a way to alienate MLIA investors? Previously rollovers were offered to existing holders - has this policy now ceased? To reinvest just the repaid capital from #166 , at the allocation rate given, I need approx. 200 loans &/or £100M of drawdowns - how long is that likely to take? Could you give any positive signals to MLIA holders who have supported AC from the early days?
Many thanks
I will find out. Yes and no - We perhaps could have acted sooner rather than rolling. We could offer a rolled loan out to new lenders as a new policy. Yet to decide. £100m - 6mths or so, just depends on summer holiday effect and also Xmas period. Yes, the more loans we do, the more will be available. To get to £25m a month we need to be doing 50 loans, this will give more availability to MLIA users. As tempting as your offer is, to wait for at least 6 months to get (hopefully) reinvested at 7-9% it has just lost out to reinvesting @ 13% immediately on one of your competitor platforms in some solid student accommodation. However I would ask for one final helping hand to get out of the door, my request for a £12.5K withdrawal on Saturday afternoon has still not been actioned (except the initial auto confirmation of my withdrawal), I e-mailed the enquiries address but no response as usual (does this one actually work) so found the investor one on the website & got a nice automated reply from a guy telling me about how he'd gone on holiday & when he would be back, Thursday as long it wasn't anything important if you're interested, now I'm sure he deserves a bit of time off but perhaps adequate cover might have been put in place in his absence? Anyway now Tuesday 6pm & Dominic has finally confirmed my withdrawal has been received by the accounts dept but still no money in my account – perhaps some of the QAA money queue that is currently earning 0% could be put to work & used to underwrite withdrawals to speed this process up? Or would that really be the final straw!
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am
Posts: 1,495
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Post by am on Jun 22, 2016 10:26:34 GMT
Is the problem the problem too great a proportion of the loan going to the packaged accounts, or too many MLIA borrowers wanting a slice of the pie? The answer appears to be "Initially, based on the demand levels from across all of the participating accounts, at draw down, 15% of the loan has been made available to the MLIA & GBBA accounts. The remainder has been made available via the 30DAA & QAA accounts."
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Post by stuartassetzcapital on Jun 23, 2016 17:05:42 GMT
On the AC-SS comparison are we perhaps missing one point – origination efficacy. Despite having a much larger team of RM’s, a much longer history in the property sector (Assetz Group), & a significantly lower cost of capital (several million equity raise, £23m QAA, insto backers) SS somehow manage to bring on a substantial pipeline well beyond AC’s volumes (& at higher yields). Just last week SS managed to bring on 9 deals in London (where AC have an office & their main property team), & 3 more now to a borrower based in Manchester – for a cool >£15m ie not much less than AC have managed to draw down across all their retail loans so far this year - seemingly from right under AC’s noses. A look at the latter Mancs borrower’s debenture launched last year on ISDX mentions Assetz were an exit partner for them – so they’ve known them for some time (perhaps quite well) yet AC still couldn’t get the deals. Why? Is it speed, agility, ease of doing business or something else (can’t be the rate offered to the borrower unless there’s something very unusual happening behind the scenes)? Or perhaps we knew something. We know a lot of people in property but doesn't mean we would lend to them. .
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Post by stuartassetzcapital on Jun 23, 2016 17:09:11 GMT
Given what you say, I'm confused about the 2 very large property loans (£7.2m and £4.4m) shown in the pipeline, both offering just 8%. At that level there will be very limited take-up by MLIA lenders and I'm not even sure whether 8% meets the rate threshold for the GBBA (if they are GBBA-eligible then that must be the better way of holding them). Surely much of these 2 will have to be funded by the QAA/30DAA, which certainly poses some risk concentration challenges.
Yes I'm similarly confused by these two pipeline loans. Admittedly we don't yet know the LTV of the £7.2m one, if it was 40% or less the 8% may be justified, but higher than that with development risk, no. The £4.4m is showing as 65% LTV, and in the absence of any other details looks way under priced.
I've not studied #250 the 2nd biggest loan* currently live on the platform (£2m) in excessive detail as the 8.5% yield against share security seems low even at 55% LTV. At 10% I would have been in, at 8.5% I still need persuading. And given £2m is no longer a "large" loan the overhang of availability is indicative I'm not alone in my assessment.
My fear is AC will interpret the lack of demand for #250 and those two pipeline loans as evidence AC lenders are too limited (in number and depth of pocket) to support the origination of large loans, when in reality it will simply be a reflection of under priced yield to lenders.
EDIT:
* actually joint 2nd biggest along side the 5 tranches of Mid. Trade
These are high quality development loans and we are similar in price to challenger banks who are also quoting on these types of transactions so they are not mispriced in some way. These are not bank rejects but instead transactions we are taking from under the noses of those banks.
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