stevio
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Post by stevio on Sept 24, 2017 19:33:05 GMT
ablrate 1000050 is due to mature in a couple months. With previous issues with a similar loan through APF (or subsidiary) and as this property was being redeveloped, could you kindly update us on: - APFs intention and ability to still repay as planned - the result of the redevelopment and any marketing of the fully finished property Thanks
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hazellend
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Post by hazellend on Sept 24, 2017 19:52:02 GMT
Admin notes section for this loan says borrower plans to repay early.
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ptr120
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Post by ptr120 on Oct 16, 2017 11:19:28 GMT
Email received today suggests that this will repay today and therefore has been paused.
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nush
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Post by nush on Oct 16, 2017 16:57:08 GMT
repaying tomorrow now
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ptr120
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Post by ptr120 on Oct 17, 2017 20:38:06 GMT
Still not repaid although we are given to understand they are in funds, and no further email to explain why not. Dear ablrate could you kindly update? |
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Post by lolly88 on Oct 17, 2017 21:10:08 GMT
Still not repaid although we are given to understand they are in funds, and no further email to explain why not. Dear ablrate could you kindly update? I was just coming to post the same thing. Update please.
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Post by lolly88 on Oct 18, 2017 11:28:13 GMT
I just got off the phone with customer services who said that an e-mail went out yesterday evening to advise that they are still working on the bug they have and hope to have this resolved shortly. I didn't receive this alleged e-mail yesterday only the one the day before, did anyone else? I'm not impressed I'm having to call up and browse a forum for updates but hopefully it will be repaid sometime this week.
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n
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Yet another Nick
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Post by n on Oct 18, 2017 11:45:46 GMT
Nothing here since 17:56 on 16th lolly88 |
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stevio
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Post by stevio on Oct 18, 2017 11:51:26 GMT
no email received here. A goodwill gesture for the interest would not go amiss. We should receive interest up to the payment date - its not our fault AB are having difficulty making payment
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ptr120
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Post by ptr120 on Oct 18, 2017 11:55:24 GMT
No email received here either. Interest should indeed be paid until receipt.
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Post by stevem on Oct 18, 2017 14:06:38 GMT
Nothing here since 17:56 on 16th lolly88 Same here
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blender
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Post by blender on Oct 18, 2017 14:57:44 GMT
no email received here. A goodwill gesture for the interest would not go amiss. We should receive interest up to the payment date - its not our fault AB are having difficulty making payment It doesn't work like that. Interest is usually payable (or it is on its mate 48) up to the repayment date on/after the payment (contract para 7.5). So if Ablrate had the money on 16th (monthly repayment date) and had a problem paying it to lenders, then Ablrate is not going to have much joy extracting an extra month from the borrower. There is no basis for extracting extra days from the borrower. If you had some payment from Ablrate, it would not be interest - good luck with that.
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stevio
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Post by stevio on Oct 18, 2017 16:10:13 GMT
We should receive interest up to the payment date - its not our fault AB are having difficulty making payment It doesn't work like that. Interest is usually payable (or it is on its mate 48) up to the repayment date on/after the payment (contract para 7.5). So if Ablrate had the money on 16th (monthly repayment date) and had a problem paying it to lenders, then Ablrate is not going to have much joy extracting an extra month from the borrower. There is no basis for extracting extra days from the borrower. If you had some payment from Ablrate, it would not be interest - good luck with that.
My point is that AB should pay the interest, it is their system which has failed to be able to make the payment to investors (for 2 days now)
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blender
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Post by blender on Oct 18, 2017 17:20:50 GMT
Yes, your claim would fall on Ablrate, but it would be compensation for loss of interest.
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Post by lolly88 on Oct 18, 2017 17:43:02 GMT
I think Customer Services have got the date of the email wrong. It is almost 48 hours since we were advised of a "bug" in the system, preventing payment. I am sure that a manual process could have been undertaken in that time to repay all lenders. It does not inspire confidence in ablrate 's systems when this happens. That's what I thought too but when I suggested that to him he was adament that another one went out yesterday evening to follow up that it would not be paid yesterday. I'm glad I'm not the only one who didn't receive it, I was doubtful that there had been further correspondence.
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