pikestaff
Member of DD Central
Posts: 2,187 
Likes: 1,546
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Post by pikestaff on Aug 1, 2014 17:24:35 GMT
West Midland Export shadow bids called in this afternoon. Drawdown expected early next week.
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Post by Ton ⓉⓞⓃ on Aug 1, 2014 23:03:22 GMT
15th Update PREVIOUS UPDATEAuc. No
& Date | Name | Old Entry Date
| Old Drawdown date & Info | New Entry Date | Newest Info Summary &
Exp Drawdown | 114
26/7
£
| Worcestershire Property Investment Loan |
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| 10/7 | 'Drawdown expected within 4 - 6 weeks of auction closure.' So Exp is from w/c18/8 to w/c1/9
| 112
17/7
£ | Montrose Wind Turbine | No Date
| 'Drawdown expected within 4-6 weeks.' I imagine Exp from w/c11/8 to w/c25/8 |
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| 110
16/7
£ | West London Property Investment Loan | 24/6 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 |
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| 113
16/7
£ | Nottingham Bridging Loan | 4/7 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 |
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| 106
11/7
£ | Swansea Wind Turbine | 15/7 | 'This is expected within 4 weeks or so although we will firm up on timescales over the next week or so as documents start to arrive from the borrower's solicitor.' so Exp is before 12/8 | 30/7 | 'Legal documentation was sent out to the borrower's solicitor last week. When we have documents returned / answers to our legal enquiries we will be able to firm up on timescales.' | 105
11/7
£ | East Midlands Property Investment Loan | 22/7
Q&A
| 'We are aiming for a drawdown within one month of auction closure. Auction closed on 11/07/2014.' So Exp before 8/8 |
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| 100
30/6
£ | London Software Business Loan | 16/6 | 'Drawdown expected within 4-6 weeks.'so Exp is from w/c28/7 to w/c11/8 | 29/7
similar
info
also in
Q&A
| 'Unfortunately the borrower's solicitor has not provided answers to our enquiries particularly quickly.
However, following intervention from the borrower we now have some progress and whilst we are not expecting to see a drawdown this week we are hopeful that next week should be achievable.
We will keep lenders updated with progress if this changes.' | 97
24/6
£ | West Midlands Export Business Loan | 25/7 | Error in paperwork leading to a possible ten day delay.
| 1/8 | email requesting settling of Shadowbids sent expecting drawdown to be early next week i.e. w/c4/8
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West Midlands Export Business Loan looks almost certain to be drawn early next week, I'm wondering if expected FF partial repayment will be able to meet this. London Software is possible next week but not certain. East Midlands Property Investment latest target for drawing is next week, but an update is needed. I'm using Blue to say drawdown is expected during next week using the latest info available. Next week's update and the one after that are going to be enormous, not sure if it's going to be useful to stick them all in this kind of chart, would it still be useful to anyone to do it? NEXT UPDATE |
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Post by chielamangus on Aug 2, 2014 9:43:44 GMT
Your updates always appreciated, Ton. But why the **** doesn't AC provide an easily accessible summary of progress of all loans awaiting drawdown? it is painful trying to get the info from many different pages. It should not be left to a private individual to do this work.
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Post by chris on Aug 2, 2014 10:20:10 GMT
Your updates always appreciated, Ton. But why the **** doesn't AC provide an easily accessible summary of progress of all loans awaiting drawdown? it is painful trying to get the info from many different pages. It should not be left to a private individual to do this work. It's fully addressed in the site refresh
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Post by chielamangus on Aug 2, 2014 10:45:52 GMT
OK - thanks.
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Post by Jack Barlow on Aug 2, 2014 10:59:39 GMT
In the meantime, hopefully Ton ⓉⓞⓃ will continue to provide his helpful weekly summaries and AC will recognise his contribution at their annual Lender Appreciation Awards ceremony. |
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Aug 2, 2014 11:36:41 GMT
In the meantime, hopefully Ton ⓉⓞⓃ will continue to provide his helpful weekly summaries and AC will recognise his contribution at their annual Lender Appreciation Awards ceremony. [br Hear hear! I'll second that
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Post by Ton ⓉⓞⓃ on Aug 2, 2014 13:48:41 GMT
Thanks for peoples comment, it's nice to know it's useful, but it looks a little like I was hunting for compliments...
What I meant was the chart is going to have a lot more loans added in the next couple of weeks, as the AC production line starts to hit it's stride. I was considering putting it in a different format and wondering if there were any suggestions. Normally more info is good but too much gets confusing and puts people off. So any suggestions/ideas and I'll see what can be done, but I find this board limiting in what can be done (or more likely I don't know how to do it on this board)
Thanks to everyone! There's a tear in my eye.
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Post by Jack Barlow on Aug 2, 2014 14:37:30 GMT
Ton ⓉⓞⓃ I think you can take the thank you’s as meaning we're happy with the format. I think it strikes the right balance, and the blue highlighting allows readers to easily focus in on the imminent drawdowns. More importantly though, do what’s easiest for you. I’d probably still try reading it even if it was upside down, it’d still be preferable to lots of RSI-inducing mouse-clicking. (Of course you’ll end up with RSI but we’ll be okay!)
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Post by Ton ⓉⓞⓃ on Aug 9, 2014 15:08:57 GMT
16th Update PREVIOUS UPDATEAuc. No
& Date | Name | Old Entry Date | Old Drawdown date & Info | New Entry Date | Newest Info Summary &
Exp Drawdown | 117
8/8
£
| London Retail Loan Tranche 2 |
|
| No Date
| 'Quick drawdown expected given experience gained from previous loan.'
| 116
8/8
£
| Manchester Hotel Loan |
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|
|
| 115
6/8
£
| Central London Bridging Loan |
|
| 23/7
Q&A
| "4-6 weeks after the auction closes" So Exp is from w/c 1/9 to w/c 15/9
| 118
6/8
£
| Wood Green Development Loan |
|
| 17/7 | 'Drawdown expected within 4 weeks of auction closure.' ie Exp is before 3/9
| 114
26/7
£
| Worcestershire Property Investment Loan | 10/7 | 'Drawdown expected within 4 - 6 weeks of auction closure.' So Exp is from w/c18/8 to w/c1/9 |
|
| 112
17/7
£
| Montrose Wind Turbine | No
Date
| 'Drawdown expected within 4-6 weeks.' I imagine Exp from w/c11/8 to w/c25/8 |
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| 110
16/7
£
| West London Property Investment Loan | 24/5 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 |
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| 113
16/7
£
| Nottingham Bridging Loan | 4/7 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 |
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| 106
11/7
£
| Swansea Wind Turbine | 30&15/7
Q&A
| Awaiting return of paperwork.
Drawdown Exp. 'within 4 weeks or so' Then Exp is before 12/8 or so |
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| 105
11/7
£
| East Midlands Property Investment Loan | 22/7 | 'We are aiming for a drawdown within one month of auction closure. Auction closed on 11/07/2014.' So Exp before 8/8 | 8/8 | 'Apologies ongoing delays here. We have contacted the borrower and their solicitor this afternoon to request an urgent update on their progress towards satisfying the various legal requirements prior to drawdown.
We will update further on this by next Tuesday' | 100
30/6
£
| London Software Business Loan | 16/6 | 'Drawdown expected within 4-6 weeks.'so Exp is from w/c28/7 to w/c11/8 | 29/7
Q&A
| 'Once we have clarity on their progress towards settlement of our legal requirements we will update lenders.'
| 97
24/6
£
| West Midlands Export Business Loan | 1/8 | email requesting settling of Shadowbids sent expecting drawdown to be early next week i.e. w/c4/8 | 8/8 | Apologies to all lenders.
Our expectation was that the borrower's solicitor would provide us with the necessary documentation to allow drawdown this week. Unfortunately that has not been the case.
Expectation is now that drawdown will occur early next week and our solicitor is pushing for this to happen.' ie w/c 10/8 |
Manchester Hotel Loan- No drawdown info but if we assume 4-6 weeks from auction closing then, w/c 1/9 to w/c 15/9.London Retail Loan Tranche 2- No drawdown date but if we assume 4 weeks that gives us 5/9.Little certainty given about any drawdowns this week coming. NEXT UPDATE |
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Post by Ton ⓉⓞⓃ on Aug 14, 2014 14:53:46 GMT
Nottingham Bridge has been called in.
Either be drawn tomorrow or early next week.
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Post by Ton ⓉⓞⓃ on Aug 16, 2014 9:24:10 GMT
17th Update, PREVIOUS UPDATE is just above^ Auc. No
& Date | Name | Old Entry Date | Old Drawdown date & Info | New Entry Date | Newest Info Summary &
Exp Drawdown | 79
15/8
£
| Aberystwyth Hotel Loan |
|
| 4/8 | 'We have seen confirmation that HM** have given the borrower an extension to 29/08/2014 to complete the deal.
However, we have told the borrower that whilst auction needs to be re-run (and this will be re-launched today or tomorrow) we are expecting them together with their solicitor to ensure the remaining legal items are completed to allow drawdown by 22/08/14.'
| 123
14/8
£
| North London Commercial Property Loan |
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| 11/8 | 'Drawdown should be within 4 weeks of auction closure.' Then Exp should be before 11/9
| 120
12/8
£
| Dorset Property Development Loan |
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| 24/7 | 'Quick drawdown expected.' If it's less than 4wks Exp is before 9/9, if less than 6wks then Exp is before 23/9 | 121
11/8
£
| Cornwall Wind Turbine Loan | 24/7
| 'Drawdown expected within 4 - 6 weeks.' So Exp is from 8/9 to 22/9
| 29/7
Q&A
| "We are now aiming to drawdown all loans within 4 weeks of auction closure." So Exp is before 8/9
| 117
8/8
£ | London Retail Loan Tranche 2 | No
Date
| 'Quick drawdown expected given experience gained from previous loan.' If 4wks then Exp is by 5/9
|
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| 116
8/8
| Manchester Hotel Loan |
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| 15/8 | 'Drawdown is being targeted for 1 September 2014.' | 115
6/8
| Central London Bridging Loan | 23/7
Q&A
| "4-6 weeks after the auction closes" So Exp is from w/c 1/9 to w/c 15/9 | 15/8 | 'The only remaining item here is consent from the prior mortgagee for registration of lender's second charge. We are hoping this will be received early next week to allow drawdown by the end of next week.' So Exp is by 22/8
| 118
6/8
| Wood Green Development Loan | 17/7 | 'Drawdown expected within 4 weeks of auction closure.' ie Exp is before 3/9 | 15/8 | 'A significant amount of legal documentation was received from the borrower's solicitor yesterday. Whilst this is still to be fully checked it looks fairly comprehensive and providing that is the case then drawdown by the end of the month should be achievable.' | 114
26/7
£
| Worcestershire Property Investment Loan | 10/7 | 'Drawdown expected within 4 - 6 weeks of auction closure.' So Exp is from w/c18/8 to w/c1/9 | 15/8 | 'Drawdown is being targeted for during the last week in August.' | 112
17/7
£ | Montrose Wind Turbine
| No
Date
| 'Drawdown expected within 4-6 weeks.' I imagine Exp from w/c11/8 to w/c25/8 | 15/8 | 'Drawdown now being targeted by month end.' | 110
16/7
£
| West London Property Investment Loan | 24/6 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 | 15/8 | 'Longstop date for drawdown is 27 August 2014. Should borrower fail to drawdown by this date then interest will start to accrue to lenders from 28 August 2014 through to drawdown.
Interest will be at 4% per annum equivalent for the first two weeks and, should it progress that far, 8% per annum equivalent thereafter.' | 113
16/7
£ | Nottingham Bridging Loan | 4/7 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 | 15/8 | 'Drawdown is now being targeted for Monday 18 August 2014.' Shadow bids called in.
| 106
11/7
£
| Swansea Wind Turbine | 30&15/7
Q&A | Awaiting return of paperwork.
Drawdown Exp. 'within 4 weeks or so' Then Exp is before 12/8 or so | 15/8 | "Drawdown is being targeted for 20/08/2014... with a small delay seen to date because of holidays." | 105
11/7
| East Midlands Property Investment Loan |
8/8
22/7
| 'Apologies ongoing delays here. We have contacted the borrower and their solicitor this afternoon to request an urgent update on their progress towards satisfying the various legal requirements prior to drawdown.
We will update further on this by next Tuesday'
Exp before 8/8
| 11/8 | 'Whilst legal process is progressing, as mentioned on Friday we are not satisfied with the speed of progress here. As such, given we are 4 weeks past auction closure then interest will start accruing on the loan at the initial rate of 4% per annum from today. This will cover the next 4 week period and will be payable to lenders on drawdown.
We will of course continue to push for drawdown as soon as possible.' | 100
30/6
£
| London Software Business Loan | 12/8
16/6
| 'Thanks for your patience.
Legal process continues to frustrate and borrower has now been given a deadline of the end of this week to draw the loan down or interest will start to accrue from next Monday, initially at 4% per annum.'
Exp is from w/c28/7 to w/c11/8
| 15/8 | 'We have heard nothing this week that suggests drawdown will take place today and as such, interest will accrue from Monday to lenders to be paid on drawdown at a rate equivalent to 4% p/a' |
A very encouraging comment concerning all loans was put in the Cornwall W.T. Q&A, "We are now aiming to drawdown all loans within 4 weeks of auction closure." RED dates are fairly certain of drawdown, underlined dates, in my view, are best estimates only. IN EDIT Aberystwyth (79) Although this Auction has only just finished all want/need this to be drawn very quickly. With Central London Bridging Loan (115) I maybe presumptuous putting it in RED, perhaps it should only be underlined. NEXT UPDATE |
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Post by Ton ⓉⓞⓃ on Aug 23, 2014 8:23:28 GMT
18th Update, PREVIOUS UPDATE is just above^ Auc. No
& Date | Name | Old Entry Date | Old Drawdown date & Info | New Entry Date | Newest Info Summary &
Exp Drawdown | 79
15/8
£
| Aberystwyth Hotel Loan | 4/8
| 'We have seen confirmation that HM** have given the borrower an extension to 29/08/2014 to complete the deal.
However, we have told the borrower that whilst auction needs to be re-run (and this will be re-launched today or tomorrow) we are expecting them together with their solicitor to ensure the remaining legal items are completed to allow drawdown by 22/08/14.'
| 21/8
email
| 'The borrower is now in a position to draw the loan and we are aiming to draw down by the end of this week or early week commencing 25th August.'
| 123
14/8
£
| North London Commercial Property Loan | 11/8
| 'Drawdown should be within 4 weeks of auction closure.' Then Exp should be before 11/9
|
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| 120
12/8
£
| Dorset Property Development Loan | 24/7
| 'Quick drawdown expected.' If it's less than 4wks Exp is before 9/9, if less than 6wks then Exp is before 23/9
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| 121
11/8
£
| Cornwall Wind Turbine Loan | 24/7
| 'Drawdown expected within 4 - 6 weeks.' So Exp is from 8/9 to 22/9
| 29/7
Q&A
| "We are now aiming to drawdown all loans within 4 weeks of auction closure." So Exp is before 8/9
| 117
8/8
£ | London Retail Loan Tranche 2 | No
Date
| 'Quick drawdown expected given experience gained from previous loan.' If 4wks then Exp is by 5/9
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|
| 116
8/8
| Manchester Hotel Loan | 15/8
| 'Drawdown is being targeted for 1 September 2014.'
|
|
| 115
6/8
| Central London Bridging Loan | 15/8
| 'The only remaining item here is consent from the prior mortgagee for registration of lender's second charge. We are hoping this will be received early next week to allow drawdown by the end of next week.' So Exp is by 22/8
| 21/8
email
| 'The borrower is now in a position to draw the loan and we are aiming to draw down by the end of this week or early week commencing 25th August.'
| 118
6/8
| Wood Green Development Loan | 17/7 | 'Drawdown expected within 4 weeks of auction closure.' ie Exp is before 3/9 | 15/8 | 'A significant amount of legal documentation was received from the borrower's solicitor yesterday. Whilst this is still to be fully checked it looks fairly comprehensive and providing that is the case then drawdown by the end of the month should be achievable.' | 114
26/7
£
| Worcestershire Property Investment Loan | 10/7 | 'Drawdown expected within 4 - 6 weeks of auction closure.' So Exp is from w/c18/8 to w/c1/9 | 15/8 | 'Drawdown is being targeted for during the last week in August.' | 112
17/7
£ | Montrose Wind Turbine
| No
Date
| 'Drawdown expected within 4-6 weeks.' I imagine Exp from w/c11/8 to w/c25/8 | 15/8 | 'Drawdown now being targeted by month end.' | 110
16/7
£
| West London Property Investment Loan | 24/6 | 'Drawdown expected within 4-6 weeks of auction closure.' So Exp is w/c11/8 to w/c25/8 | 15/8 | 'Longstop date for drawdown is 27 August 2014. Should borrower fail to drawdown by this date then interest will start to accrue to lenders from 28 August 2014 through to drawdown.
Interest will be at 4% per annum equivalent for the first two weeks and, should it progress that far, 8% per annum equivalent thereafter.' | 105
11/7
£
| East Midlands Property Investment Loan |
8/8
22/7
| 'Apologies ongoing delays here. We have contacted the borrower and their solicitor this afternoon to request an urgent update on their progress towards satisfying the various legal requirements prior to drawdown.
We will update further on this by next Tuesday'
Exp before 8/8
| 11/8 | 'Whilst legal process is progressing, as mentioned on Friday we are not satisfied with the speed of progress here. As such, given we are 4 weeks past auction closure then interest will start accruing on the loan at the initial rate of 4% per annum from today. This will cover the next 4 week period and will be payable to lenders on drawdown.
We will of course continue to push for drawdown as soon as possible.' | 100
30/6
£
| London Software Business Loan | 12/8
16/6
| 'Thanks for your patience.
Legal process continues to frustrate and borrower has now been given a deadline of the end of this week to draw the loan down or interest will start to accrue from next Monday, initially at 4% per annum.'
Exp is from w/c28/7 to w/c11/8
| 15/8 | 'We have heard nothing this week that suggests drawdown will take place today and as such, interest will accrue from Monday to lenders to be paid on drawdown at a rate equivalent to 4% p/a' |
AC said in July "We are now aiming to drawdown all loans within 4 weeks of auction closure." RED dates mean it's fairly certain of drawdown or by the info given are now due to be drawn, underlined dates, in my view, are best estimates only. If you look at the dates there's not much new info, two shad-bid emails. Aberystwyth (79) & Central London Bridging Loan (115) are expected (Exp) to be drawn after the Bank Holiday. Midlands Trade Finance Provider Tranche 2 was quietly drawn on Friday almost all u/w. NEXT UPDATE |
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Post by Ton ⓉⓞⓃ on Aug 29, 2014 22:14:56 GMT
19th Update, PREVIOUS UPDATE is just above^ Auc. No
& Date | Name | Old Entry Date | Old Drawdown date & Info | New Entry Date | Newest Info Summary &
Exp Drawdown | 124
28/8
£
| Yorkshire Mobile Phone Distributor Loan
|
|
| 29/7
| 'Loan expected to draw down within 4-6 weeks.'
So Exp is from 25/9 to 9/10
| 122
26/8
| North Wales Bridging Loan
|
|
| 20/8
Q&A
| As regards drawdown, whilst borrower would like funds "yesterday" there is still a significant amount of legal work to be completed. As things stand we are aiming to drawdown towards the end of the w/c 1 September but will advise lenders further as we firm up on timescales."
| 123
14/8
£
| North London Commercial Property Loan | 11/8
| 'Drawdown should be within 4 weeks of auction closure.' Then Exp should be before 11/9
|
|
| 120
12/8
£
| Dorset Property Development Loan | 24/7
| 'Quick drawdown expected.' If it's less than 4wks Exp is before 9/9, if less than 6wks then Exp is before 23/9
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| 121
11/8
£
| Cornwall Wind Turbine Loan | 29/7
Q&A
| "We are now aiming to drawdown all loans within 4 weeks of auction closure." So Exp is before 8/9
|
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| 116
8/8
| Manchester Hotel Loan | 15/8
| 'Drawdown is being targeted for 1 September 2014.'
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| 115
6/8
| Central London Bridging Loan | 21/8
email
| 'The borrower is now in a position to draw the loan and we are aiming to draw down by the end of this week or early week commencing 25th August.'
| 29/8
Q&A
| "It appears that the borrower was forward with his aspiration as consent from prior mortgagee is still awaited. We are chasing this daily and will provide a further update by the middle of next week when we have discussed with our legal team."
| 118
6/8
| Wood Green Development Loan | 17/7 | 'Drawdown expected within 4 weeks of auction closure.' ie Exp is before 3/9 | 15/8 | 'A significant amount of legal documentation was received from the borrower's solicitor yesterday. Whilst this is still to be fully checked it looks fairly comprehensive and providing that is the case then drawdown by the end of the month should be achievable.' | 114
26/7
£
| Worcestershire Property Investment Loan | 15/8
| 'Drawdown is being targeted for during the last week in August.'
| 29/8
| 'We have sought a further update although there has been a delay in receiving the valuation which we will require prior to drawdown.
We will provide a formal update to lenders by the middle of next week.'
| 112
17/7
£ | Montrose Wind Turbine
| No
Date
| 'Drawdown expected within 4-6 weeks.' I imagine Exp from w/c11/8 to w/c25/8
| 15/8
| 'Drawdown now being targeted by month end.'
| 110
16/7
£
| West London Property Investment Loan | 15/8
| 'Longstop date for drawdown is 27 August 2014. Should borrower fail to drawdown by this date then interest will start to accrue to lenders from 28 August 2014 through to drawdown.
Interest will be at 4% per annum equivalent for the first two weeks and, should it progress that far, 8% per annum equivalent thereafter.'
| 29/8
Q&A
| [Interest is now accruing and] 'we are pushing hard for drawdown soon. However, this may be delayed by the requirement for borrower's son (aged over 18) to consent to the charge as he is resident in the property. He is currently overseas and doesn't return for at least 10 days.
Given failure to do this could invalidate the legal charge we do require this to happen to allow drawdown.'
| 105
11/7
£
| East Midlands Property Investment Loan |
11/8
| 'given we are 4 weeks past auction closure then interest will start accruing on the loan at the initial rate of 4% per annum from today. This will cover the next 4 week period and will be payable to lenders on drawdown.'
| 29/8
Q&A
| 'we are boxing off the last few legal requirements with a view to drawing down next week.'
| 100
30/6
£
| London Software Business Loan | 12/8
16/6
| 'Thanks for your patience.
Legal process continues to frustrate and borrower has now been given a deadline of the end of this week to draw the loan down or interest will start to accrue from next Monday, initially at 4% per annum.'
Exp is from w/c28/7 to w/c11/8
| 15/8 | 'We have heard nothing this week that suggests drawdown will take place today and as such, interest will accrue from Monday to lenders to be paid on drawdown at a rate equivalent to 4% p/a' |
AC said in July "We are now aiming to drawdown all loans within 4 weeks of auction closure." RED dates mean it's fairly certain of drawdown or by the info given are now due to be drawn in the nest week or so. Several loans have not been updated in a while and a few of these had questions asked late Friday. NEXT UPDATE |
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Post by cyrilmadrid on Sept 4, 2014 6:09:31 GMT
Drawdown of Central London yesterday
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