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Post by Ton ⓉⓞⓃ on May 15, 2014 18:16:16 GMT
Andrew H indicated a week ago that more loans are to come aboard but nothing has so far. It's also been fairly quite in comparison from AC since the Easter holidays. I think we'll have to get used to the fact that AC are growing & we've been fortunate so far the MD & chief IT man have been very active on these pages & as they crank up their operations & try to expand (plus a new baby on board!), their time will become more precious & scarce to us. It's been good so far & whilst I agree the inactivity is irritating & monotonous, the reality is this is how it might become as on a regular basis if the p2p market keeps growing at a rate of knots A.H. said a little while ago that we're on target for 100m. It doesn't feel like it at the moment. Is anyone actually tracking this and can say if we are still on or how far off we are?
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spockie
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Post by spockie on May 15, 2014 18:18:59 GMT
The AC website tells you the amount they have loaned so far. Log out, and it's the figure on the home page.
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spockie
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Post by spockie on May 17, 2014 17:51:40 GMT
Any chance of an email with news on forthcoming loans andrewholgate to whet our appetites for loans in the pipeline? |
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j
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Post by j on May 17, 2014 19:32:14 GMT
Any chance of an email with news on forthcoming loans andrewholgate to whet our appetites for loans in the pipeline? It's in AC's interest to have many loans listed & with high frequency so, I have no doubt they're working hard behind the scenes. But, lack of at least a decent flow of loans & updates seems a common occurrence recently. The site has felt like a semi-ghost town of late with only some regular suspects gracing the AM - most of us had already had our fill of such loans & would like the opportunity to diversify into others. I agree with Ton ⓉⓞⓃ's sentiments, that £100m target looks like a pipe dream at the moment the rate we're going at! 
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dorset
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Post by dorset on May 17, 2014 20:59:44 GMT
Have been trying to dip my toe in the water but nothing to dip into at the moment. Interestingly the recent £400k secured loan on FC was exactly the type of opportunity I was expecting on Assetz. Some forward guidance on what may be coming up would be helpful in deciding where to allocate future funds. For example - investors could expect up to £x coming forward in the next 4 weeks.
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spockie
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Post by spockie on May 17, 2014 22:05:05 GMT
I would suggest you look through the completed loans as they give the best picture of all. The number of loans per months varies but probably averages about five at present. Sizes vary from c75k to 2m.
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oldgrumpy
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Post by oldgrumpy on May 19, 2014 9:32:22 GMT
Shop window starting to look a bit bare at AC. Nothing in primary market and just two loans in secondary market (neither of which I want any exposure to). If this continues I'll have to take a closer look at the offerings at TC again .... Maybe Andrew H can give us a bit more insight into the £100 million loan target for this year. I can't really believe his recent rhetorical forecasts on that front are as salt-laden as the weekly moving drawdown forecasts for closed loan auctions.
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Post by andrewholgate on May 19, 2014 16:49:31 GMT
There seems to be a 6 week cycle of feast and famine, where 4 weeks will be busy and two weeks will be quiet. Having done our sales meeting this morning there is a large pipeline of deals in the system but we are in limbo due to information requirements, borrowers taking their time to decide.
Believe me, I'm as much frustrated as you guys when it goes quiet. There are some drawdowns looming that will free up loan units for you and I should have more deals in the next day or two. I'm also working on a number of plans that will give more consistent deal flow.
A
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agent69
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Post by agent69 on May 19, 2014 17:02:31 GMT
If this continues I'll have to take a closer look at the offerings at TC again .... They appear to have the opposite problem. Nearly £3m of loans on offer and (with the exception of 1 loan) not a lot of interest. The £400k goalkeeper loan was only 25% funded and the current £1m offering is 12% funded with only a day to go. I have money invested in TC but always thought they would do better if they dropped the minimum investment level to around £250.
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spockie
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Post by spockie on May 20, 2014 16:38:49 GMT
There seems to be a 6 week cycle of feast and famine, where 4 weeks will be busy and two weeks will be quiet. Having done our sales meeting this morning there is a large pipeline of deals in the system but we are in limbo due to information requirements, borrowers taking their time to decide. Believe me, I'm as much frustrated as you guys when it goes quiet. There are some drawdowns looming that will free up loan units for you and I should have more deals in the next day or two. I'm also working on a number of plans that will give more consistent deal flow. A Could the marketing dept be persuaded to send out an email with news of some of the pipeline loans? Even though occasionally one of the ones mentioned in previous emails hasn't eventually come through, it is helpful to have an idea of what is coming up.
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Post by andrewholgate on May 21, 2014 11:23:45 GMT
I will ask them to look into it.
Currently 7 loans on the aftermarket and I believe more drawdowns to come. I also have 2/3 loans that should list this week, one of which is another wind turbine.
A
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oldgrumpy
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Post by oldgrumpy on May 21, 2014 11:35:13 GMT
I believe more drawdowns to come...
If you didn't believe, I would be concerned! 
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star dust
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Post by star dust on May 22, 2014 15:16:55 GMT
Well, one day left before the end of the week, and we're down to one loan only on the AM (although there has been quite a bit of activity in the last few days), nothing new at all, and the one loan draw down I am involved in hasn't drawn down yet and is late to do so, haven't checked whether others have drawn down.
So the flood gates will open tomorrow will they?
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oldgrumpy
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Post by oldgrumpy on May 22, 2014 15:54:10 GMT
Well, one day left before the end of the week, and we're down to one loan only on the AM (although there has been quite a bit of activity in the last few days), nothing new at all, and the one loan draw down I am involved in hasn't drawn down yet and is late to do so, haven't checked whether others have drawn down. So the flood gates will open tomorrow will they? Two weeks ago I checked what was scheduled to draw down during last week so that I could assess how much to put in my holding account, just in case, to pay shadow bid bills while I was away. All but one of eight were forecast as probable or possible!! Onl one actually drew down. The others still haven't! I only put about half my full commitment in my account, so some of that is still there earning nothing. I'm afraid AC's weekly forecasts for drawdown dates are only there because people asked for them. They haven't actually made drawdowns any quicker. People with money stuck in the six month Weston Splendid Horse bridging loan for two months must be really upset - a headline 1% pm now effectively being 0.75% pm for early bidders .... the first AC draw down "hoped for" date was around 4 April - and like a mug I dropped my banana and paid up on the 8th! Flood gates? We wish!! More like dribbling leaky lock gates on the Staffs and Worcs Canal!
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andy2001
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Post by andy2001 on May 22, 2014 16:05:23 GMT
Looks like S***h Man*****er Bridging will be rolled over onto a new 3 month loan, to be listed within a few weeks at most, as repayment due 11th June.
• On 21st May 2014 at 11:21 z asked:
"Hi, any progress on my question from May 12th? Thanks" ◦ On 22nd May 2014 at 09:55 Assetz Capital answered:
"Thanks for your patience here.
We have spoken to the introducer and the borrower is looking to obtain a 3 month extension here. In order to do this we propose to run a new auction to repay this existing loan. New loan will be at the same rate as the existing one.
Reason for the extension is that property hasn't sold as yet however, borrower has since dropped the asking price in order to secure a sale within the extended period."
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