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Post by Ton ⓉⓞⓃ on Jul 3, 2014 16:50:54 GMT
Montrose Wind Turbine - 3 year loan - 9.75% per annum - 67% loan to value
£1,170,000
Doesn't seem to be owned by a large group but by a couple, they want to keep them (the turbines), rather than sell then on, but they plan is to refinance before term.
There's no evidence that they have any other turbines, tho' Aberdeen must be replete with knowledge on this, they've brought in two other Co's to do the hardwork.
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j
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Post by j on Jul 3, 2014 17:44:28 GMT
Montrose Wind Turbine - 3 year loan - 9.75% per annum - 67% loan to value £1,170,000 Doesn't seem to be owned by a large group but by a couple, they want to keep them (the turbines), rather than sell then on, but they plan is to refinance before term. There's no evidence that they have any other turbines, tho' Aberdeen must be replete with knowledge on this, they've brought in two other Co's to do the hardwork. I've taken a decision to only invest in turbine loans when they come on AM & they always do straight after draw down due to large underwriting & size of loans
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baldpate
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Post by baldpate on Jul 6, 2014 16:32:58 GMT
I'm new to AC (& to P2P lendin generally) so I may well have got this wrong : but reading the documentation for this proposal, I was surprised that the risk assessment doesn't anywhere mention Scottish Independence as a risk factor.
I'm particularly thinking of the risk that a future govenment of an independent Scotland will not feel itself bound by commitments made on Feed-In Tarrifs by present and past UK governments.
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Post by mrclondon on Jul 6, 2014 17:38:04 GMT
I'm new to AC (& to P2P lendin generally) so I may well have got this wrong : but reading the documentation for this proposal, I was surprised that the risk assessment doesn't anywhere mention Scottish Independence as a risk factor. I'm particularly thinking of the risk that a future govenment of an independent Scotland will not feel itself bound by commitments made on Feed-In Tarrifs by present and past UK governments. Being new to AC, you will have no doubt missed the response given by the introducer of these wind tubine loans to this question on one of the previous scottish wind turbine loans: Although most of the queries have been answered in replies to previous wind turbine loans, it may help if I deal again with some of the points that have been raised: ...
Scottish Independance:The payment of FITs is an obligation of the UK government, which has stated that, in the event of independence, it will continue to meet these obligations. In any event, the Scottish parliament is strongly supportive of renewable energy - particularly wind - so it is likely that even after independence it would continue to encourage further development. ...
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baldpate
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Post by baldpate on Jul 6, 2014 18:32:24 GMT
Thank you mrclondon - I doubt I would have found that post, which certainly addresses my concerns.
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Post by Ton ⓉⓞⓃ on Nov 7, 2014 16:00:25 GMT
Did some kind sole just buy half-a-million pounds of this? None of mine were bought.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 7, 2014 16:18:50 GMT
Did some kind sole just buy half-a-million pounds of this? None of mine were bought. We've got fishes lending here now?  (Hope there's no sharks.............  )
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j
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Post by j on Nov 7, 2014 16:37:43 GMT
Did some kind sole just buy half-a-million pounds of this? None of mine were bought. We've got fishes lending here now? (Hope there's no sharks............. ) Who, what...where's the fish all gone?! 
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Nov 7, 2014 16:43:16 GMT
We've got fishes lending here now? (Hope there's no sharks............. ) Who, what...where's the fish all gone?! Don't worry j, I'm sure you wouldn't have wanted to eat a 'kind' sole, now, would you? Surely you'd be choosy and stick to the mean ones? And I don't think there have been any mean ones, so you haven't missed out.
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oldgrumpy
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Post by oldgrumpy on Nov 7, 2014 16:45:40 GMT
Just steer clear of soles called Reggie or Roger! |
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Post by pepperpot on Nov 7, 2014 22:27:02 GMT
Did some kind sole just buy half-a-million pounds of this? None of mine were bought. In the absence of any sensible replies so far <rolls eyes>, might they have been pulled from sale to give the up and coming green account some foundations? Carmarthenshire has disappeared and a few others are depleted. In fact the SM seems a lot thinner than it was this morning, are the u/w's playing games trying to make us think there's only a bit left so it's safe to pile in?!
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mikes1531
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Post by mikes1531 on Nov 7, 2014 22:37:22 GMT
Did some kind sole just buy half-a-million pounds of this? None of mine were bought. Had there been £0.8M of units available? If so, perhaps the underwriters have decided to remove a big chunk of that from sale, having come to the conclusion that a huge amount of units available to sell inhibits 'ordinary' investors from buying because they feel it would be too difficult to sell units if they should need to. So instead, the underwriters lull the investors into thinking the units are in shorter supply and the 'ordinary' investors become more willing to invest. Then the underwriters start releasing some more of their units as the previously offered units sell. I don't know whether to suggest that's a tactic designed to mislead or a way to operate that should be expected. But it sure does make me wish we could have those horseshoe charts back! andrewholgate, chris: It's been roughly a month since it was pointed out that the repayment schedules for most -- if not all -- wind turbine projects are wrong because they don't reflect the lump sum capital payments that typically are due at the end of the first year. We have been told that this will be fixed, but so far nothing has happened. When might we expect this error to be corrected?
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tonyr
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Post by tonyr on Nov 8, 2014 4:04:28 GMT
Had there been £0.8M of units available? If so, perhaps the underwriters have decided to remove a big chunk of that from sale, having come to the conclusion that a huge amount of units available to sell inhibits 'ordinary' investors from buying because they feel it would be too difficult to sell units if they should need to. So instead, the underwriters lull the investors into thinking the units are in shorter supply and the 'ordinary' investors become more willing to invest. Then the underwriters start releasing some more of their units as the previously offered units sell. I think that would have required coordination amongst several underwriters and (to my knowledge) there's very little communication between underwriters. What may have happened is that one big underwriter decided they didn't need to sell this and pulled their parts from sale, and that resulted in some parts starting to sell. Once some parts were selling (previously it had been stagnant since drawdown) then many of the other underwriters may have decided to set their MLI target to be non-zero - after all it's yielding 9.75% and if it's liquid then thats what we all want. Certainly that was my rationality and I took 30k off the market on that basis. So it may not be a conspiracy, just an unstable market and underwriters may be just as prone to the swings as everyone else - for example, when there was only 9k of Carmarthenshire WT left I waded in.
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j
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Penguins are very misunderstood!
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Post by j on Nov 8, 2014 15:25:23 GMT
Had there been £0.8M of units available? If so, perhaps the underwriters have decided to remove a big chunk of that from sale, having come to the conclusion that a huge amount of units available to sell inhibits 'ordinary' investors from buying because they feel it would be too difficult to sell units if they should need to. So instead, the underwriters lull the investors into thinking the units are in shorter supply and the 'ordinary' investors become more willing to invest. Then the underwriters start releasing some more of their units as the previously offered units sell. I think that would have required coordination amongst several underwriters and (to my knowledge) there's very little communication between underwriters. What may have happened is that one big underwriter decided they didn't need to sell this and pulled their parts from sale, and that resulted in some parts starting to sell. Once some parts were selling (previously it had been stagnant since drawdown) then many of the other underwriters may have decided to set their MLI target to be non-zero - after all it's yielding 9.75% and if it's liquid then thats what we all want. Certainly that was my rationality and I took 30k off the market on that basis. So it may not be a conspiracy, just an unstable market and underwriters may be just as prone to the swings as everyone else - for example, when there was only 9k of Carmarthenshire WT left I waded in. , thanks for the input. It's good to have an underwriter interacting & providing their perspectives on the workings of various loans
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mikes1531
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Post by mikes1531 on Nov 8, 2014 16:45:59 GMT
So it may not be a conspiracy, just an unstable market and underwriters may be just as prone to the swings as everyone else - for example, when there was only 9k of Carmarthenshire WT left I waded in. My concern is the effect this instability/unpredictability might have on 'ordinary' investors. If they see £9k of a loan left and wade in thinking they'd be able to get out again reasonably promptly if they should need to, then they'd probably be less than pleased to find that next week there's £200k up for sale. Similarly, if someone looks at that loan now and sees nothing available they might feel comfortable increasing their target by a significant amount because they think they'll pick up only small bits and pieces over the coming weeks. But if £200k comes onto the Aftermarket all of a sudden, two things probably would happen -- 1) all of their available cash would be used to buy units in that loan; and 2) they'd find they couldn't sell those units as easily as they thought they could. And they'd probably be less than pleased about that. Perhaps AC shouldn't try to protect their investors against surprises like that, and the investors need to learn to fend for themselves and live with the consequences of their actions without grumbling. But a lot of this sort of surprise could be prevented if AC were to reinstate the old horseshoe charts so that we'd have some idea whether no units on the Aftermarket means the underwriters are completely out of a loan, or whether it means the underwriters have simply taken a break in liquidating their positions.
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(Hope there's no sharks............. 
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