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Post by Ton ⓉⓞⓃ on Jun 14, 2014 18:18:38 GMT
8th Update PREVIOUS UPDATEAuc. No &
Date
| Name | Entry
Date
| Old Drawdown Date
From last time | Entry
Date
| Newest Info Summary & Exp Drawdown date | 96
7/6
| Manc Comercial
Prop Loan | 6/6 | Drawdown expected before the end of June. |
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| 95
6/6
| London Law
Tranche III | 6/6
| 'Drawdown expected by the end of June.'
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| 93
31/5
| Aberdeen
Wind
| 22/5 | Exp Last week in June |
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| 92
17/5
| Liverpool
Loan
| 30/5 | Old Exp. was w/c 9/6 | 13/6 | 'Legal process is progressing with expectation now that drawdown will be within the next 10 days.'Exp early w/c 23/6
| 89
30/4
| Staffy
Prop
| 30/5 | Latest should
be w/c9/6 | 13/6 | 'Legal process is almost complete and Receiver has given us a one week extension to draw loan.' Exp w/c 16/6
| 88
30/4
| Redruth
Dev
| 30/5 | Drawdown hoped for w/c 09/06/2014 | 11/6 in
Q&A
| 'We have chased the borrower for an update and await a response.
However, he will be told that unless drawdown <is> imminent then interest (probably at a reduced rate) will start to accrue on the loan which will become payable to lenders.
Thank you for your continued patience.' | 86
12/4
| Scots
Prop
| 30/5 | Exp w/c 9/6 | 13/6 | 'Legal process not quite complete although we are comfortable with projecting a drawdown by the end of next week.' Exp. w/c 16/6
| 79
17/3 | Aber | 30/5 | Earliest Exp w/c9/6 | 11/6 in
Q&A
| 'Unfortunately the delay is outside the control of both Assetz Capital and the borrower given the intransigence of ****. However, per the Drawdown Update of 12/05/2014 interest has been accruing at a rate of 3% p/a since 14/04/2014 and will be paid to lenders on drawdown.' |
A few spaces this time, i.e. no new info (last update still applies). There are no Red Dates this time i.e. no particular dates for any loans to be drawn just w/c. Exp. is short for expected Entry date is basically how old is the info If I've made any mistakes just tell me and I'll edit the above. Try not to quote the whole of the above with the error as it just gets confusing as to where to look. Some of the info was in the Q&A. NEXT UPDATE just one post below |
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unmadem
Member of DD Central
Posts: 377 
Likes: 181
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Post by unmadem on Jun 20, 2014 14:59:00 GMT
scots prop drawndown. 10 weeks
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Post by Ton ⓉⓞⓃ on Jun 21, 2014 11:07:08 GMT
9th Update PREVIOUS UPDATEAuc. No
& Date | Name | Old
Entry date
| Old Drawdown Date | Entry Date
| Newest Info Summary &
Exp Drawdown Date
| 96
7/6
| Manc.
Commercial
Prop Loan
| 6/6 | Before end of June
| 20/6 | 'Legal process has progressed well and drawdown now expected next week.' Exp w/c 23/6
| 95
6/6
| London Law
Tranche III | 6/6 | By the end of June
| 20/6 | 'Legal process has commenced with drawdown expected latest w/c 30/06/2014.' | 93
31/5
| Aberdeenshire
Wind
| 22/5 | 'Given knowledge gained from previous wind turbine deals it is hoped that drawdown will be quicker than previously and is aimed for during June.' Exp last week in June. |
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| 92
17/5
| Liverpool Loan
| 13/6 | 'Legal process is progressing with expectation now that drawdown will be within the next 10 days.' Exp early w/c 23/6 |
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| 89
30/4
| Staffy Loan
| 13/6 | Exp w/c 16/6
| 20/6 | 'The last pre-drawdown condition is now just about settled with completion of this now expected on Monday to allow drawdown Monday / Tuesday next week.' Exp Latest 24/06/2014.
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If you're not sure what 'Exp', RED DATES or the blank spaces mean just check previous posts for explanations. If I've made any mistakes just post saying what the error is and I'll happily correct the above. Thanks. A RED DATE given for Staffy, Liverpool seems about the same time, infact so does everything else except London Law. Redruth & Aberystwyth both reverted to Preview, I hope the owners of Aber are made of stern stuff. Scottish Property was drawn in the week and is now a loan unit. NEXT UPDATE |
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unmadem
Member of DD Central
Posts: 377
Likes: 181
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Post by unmadem on Jun 26, 2014 9:08:57 GMT
staffy property drawdown. 8 weeks
£ 457,800 for sale.
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Post by mrclondon on Jun 26, 2014 12:13:31 GMT
No experiment, can you PM me the email address you use on your account so that I can look into this bug. Okay, this is due to a change that was made a while back by request on here. Auto Invest will not bid out funds that are promised in a prebid. So in paul123's case whilst he has funds in his account he has pre-bids in another auction that more than use up those funds. So AI dutifully sits there thinking those funds have already been allocated. We're making some changes soon that will help with this but for now this is how the system handles things. Does that explain the issues? I think I've spotted a flaw in this logic. Earlier today I had £2600+ cash, £3500 in pre-bids, shadow bid capacity > £5000, and an active AI mandate (since deleted) for Ipswich set £1500 above the previous holding which was not triggered so I bought the units manually on the AM. It looks as if the pre-bid cash reservation blocked my AI mandate from triggering BUT the pre-bids would not be serviced from cash given the availability of shadow bid capacity. My conclusion is the AI's pre-bid cash reservation is not taking into account the availability of shadow bidding headroom to soak up the pre-bids. So it looks as if anyone with a shadow account who has live pre-bids is effectively blocked from using AI. And I don't want to delete the pre-bids as the largest block is on the April cash-back loan.
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Post by chris on Jun 26, 2014 12:20:19 GMT
Hmm... that's a difficult one as you are correct in that scenario it wouldn't work as you would like. However there is a scenario where you want to transfer in funds in order to settle shadow bids or prebids but the system then spends that cash the second it arrives because overall you technically have capacity to spare. I'm not sure which is the lesser of the two evils and I can't think of a way to code around this. I guess a global "off" switch would help but still leaves scope for human error.
There are structural changes coming to the site and investment process that will remove this issue that will begin alpha testing next week but the exact go live timeline is unclear at the moment. Could be a couple of weeks could take longer as we need several projects, both technical and operational, to coincide with each other.
Thoughts / ideas welcome.
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kermie
Member of DD Central
Posts: 691
Likes: 462
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Post by kermie on Jun 26, 2014 19:38:33 GMT
Arrr - mrclondon's situation and explanation could well apply in my situation too: today, #89 draw down was completed, a lot of loan-parts then become available on the AM, but my AI mandate did not pick it up, despite having more than enough cash. I did, however, have much more pre-bids in place (covered by shadow account). I had to buy manually in the end - no deleting/recreating of the mandate helped. At least I understand why now - thanks. |
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kermie
Member of DD Central
Posts: 691
Likes: 462
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Post by kermie on Jun 27, 2014 11:12:22 GMT
M********* C********* P******* (#96) shadow bids called in today. Lots of AM activity, as you might expect.
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Post by Ton ⓉⓞⓃ on Jun 27, 2014 17:18:21 GMT
M********* C********* P******* (#96) shadow bids called in today. Lots of AM activity, as you might expect. I missed all that activity as I've got too many prebids hovering.
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Post by Ton ⓉⓞⓃ on Jun 28, 2014 10:19:59 GMT
10th Update PREVIOUS UPDATEAuc. No
& Date
| Name | Old Entry Date
| Old Drawdown Date | New Entry Date
| Newest Info Summary &
Exp Drawdown Date | 97
24/6
| West Midlands
Export Business |
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| 10/6 | 'Drawdown expected within 4 weeks of auction closure.' | 96
7/6
| Manc. Commercial
Property Loan
| 20/6 | 'Legal process has progressed well and drawdown now expected next week.' Exp w/c 23/6 | email sent
27/6
| AC email saying please settle your shadow bids for this loan as it's will be drawn 'shortly'
| 95
6/6
| London Law
Tranche III | 20/6 | 'Legal process has commenced with drawdown expected latest w/c 30/06/2014.' |
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| 93
31/5
| Aberdeenshire
Wind | 22/5 | 'Given knowledge gained from previous wind turbine deals it is hoped that drawdown will be quicker than previously and is aimed for during June.' Exp last week in June. |
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| 92
17/5
| Liverpool
Elect. Loan
| 13/6 | 'Legal process is progressing with expectation now that drawdown will be within the next 10 days.' Exp early w/c 23/6 | 26/6
Q&A
| 'We requested an urgent update from the borrower's lawyers on 25th June as to where they are up to with satisfying the pre-drawdown conditions and will update lenders when this is received.'
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The list is fairly short but only the Liverpool Electric has fresh info. Staffy Loan was drawn during the week. The date next to the Auction number is the Auction close date. The blanks mean no new info. If I've made any mistakes just tell me and I'll edit the above. IN EDIT I've just added to Loan 96 Manc. Commercial Prop. that it's shadow bids were been called in yesterday. NEXT UPDATE |
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Post by Ton ⓉⓞⓃ on Jun 28, 2014 16:50:30 GMT
I've just updated the info on Loan 96 Manc. Commercial Prop. to say that it's shadow bids have been called in. Thanks to kermie |
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jun 28, 2014 21:03:10 GMT
Thanks for the regular updates Ton ⓉⓞⓃ, it saves trawling thru each individual loan on AC |
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misscas
Member of DD Central
Posts: 64
Likes: 55
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Post by misscas on Jul 1, 2014 12:53:05 GMT
Just been told Auction 95 L..... L.. is drawing today and Auction 96 M... C......... L... will draw tomorrow
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spockie
Member of DD Central
Posts: 299 
Likes: 84
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Post by spockie on Jul 1, 2014 16:05:46 GMT
London Law has drawn down.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jul 3, 2014 10:18:08 GMT
No 99 South Coast Plumbing - shadow bids called in - drawdown imminent - NOW THAT IS FAST!!   |
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