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Post by henders on Mar 17, 2015 7:29:33 GMT
I noticed this morning that my Total Lent had increased by (about) £100 despite me not having any spare cash in my AC account.
Investigations showed that although I had a target of £100 on S****** Bridge and, despite having no additional cash to spend, my holding had increased from £100 to £200.
This is clearly in excess of my limit, seems to have been acquired with no cash of mine and also acquired when investments were paused on that loan!!
I investigated further to see when the additional £100 units were bought and they don't appear to have been acquired at all (at least not by me).
Big error (possibly) and very worrying as this must question the whole balance (or unit allocation) functionality of the software or, hopefully, it is just a display issue but as it stands I have a balance that is (about) £100 in excess of what it should be.
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Post by henders on Mar 17, 2015 7:46:16 GMT
Just noticed S****** Bridge is now showing LTV as 120%!!! Security says First Charge at value of £600K and loan is £360K. ***  ? |
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Mike
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Post by Mike on Mar 17, 2015 7:56:50 GMT
My holding has also doubled artificially. Old holding was = target.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 17, 2015 8:10:36 GMT
Mine too. Think that they might be in the process of artificially extending the loan as term has now gone to 2 months & interest is at the default rate of 18%. There are also 2 principal repayments showing to be made. Looks like weve acquired a holdings in the extension but not lost the holdings in the original
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Post by gingergent on Mar 17, 2015 8:13:22 GMT
If this is #74, then yes, I'm at 200% of my target, and my total has gone up accordingly since last night. Load shows 120% LTV also, which would equate to a 720K loan - 200% of what's actually listed. Have you contacted Assetz?
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Post by henders on Mar 17, 2015 8:13:48 GMT
Good thinking Il Moro.
Probably caught mid process.
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Post by henders on Mar 17, 2015 8:14:22 GMT
Yes I have emailed AC on this one.
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oldgrumpy
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Post by oldgrumpy on Mar 17, 2015 8:16:02 GMT
Yep! My holding has shadow doubled to £800.  |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 17, 2015 8:19:17 GMT
Yep! My holding has shadow doubled to £800. Shame its suspended or we could all sell some & make a shadow profit to cover any potential default 
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mikeb
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Post by mikeb on Mar 17, 2015 9:13:30 GMT
Note that despite official protestations otherwise, your holding has increased and there is NO CORRESPONDING ENTRY on the statement.
Your totals have increased (total lent, balance on AC) and there is nothing anywhere to show a movement of money.
Oh, and accrued interests are still all over the place, but no-one seems to be fixing them any more. Some are even going backwards again (Anglesey).
I'm not convinced AC understand accounting.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 17, 2015 9:41:56 GMT
Note that despite official protestations otherwise, your holding has increased and there is NO CORRESPONDING ENTRY on the statement. Your totals have increased (total lent, balance on AC) and there is nothing anywhere to show a movement of money. Oh, and accrued interests are still all over the place, but no-one seems to be fixing them any more. Some are even going backwards again (Anglesey). I'm not convinced AC understand accounting. Think it might be counting thats the issue! Anglesey ext originally drewdown mid Jul, so would finish mid Jan, has been extended by a further 6 months (i think) which would take it to mid Jul, yet AC have repayment as mid Jun. As we knew (well, suspect) this mucks up accrurals, same as happened with Ippy (we suspect) where again date was a month out when counted forward from drawdown of ext. Edit: Or I could be completely wrong as there is no way of telling how long extension is because nothing is entered into the updates about it. Ippy is cuurently 2/6 but should be 5/6 if dated from end of previous extension(actually 6/6 but we wont go there) Spandex is 2/12 but should be 2/2 or 2/14. 
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bugs4me
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Post by bugs4me on Mar 17, 2015 9:46:28 GMT
From AC this morning in response to a question raised
'....We have already spoken to IT this morning and they are investigating in order to urgently find a fix....'
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kmac
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Post by kmac on Mar 17, 2015 9:59:44 GMT
Mine has now been fixed
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 17, 2015 10:01:37 GMT
From AC this morning in response to a question raised '....We have already spoken to IT this morning and they are investigating in order to urgently find a fix....' And they have! All fixed display wise.  And now with added tradeability, maybe!
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mikes1531
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Post by mikes1531 on Mar 17, 2015 16:45:51 GMT
From AC this morning in response to a question raised '....We have already spoken to IT this morning and they are investigating in order to urgently find a fix....' The critical question is whether they spotted the error themselves, or were oblivious to the problem until the complaints started coming in. The latter situation would be rather worrying. And now with added tradeability, maybe! Definitely, since AutoInvest bought a part for me at 0955 today. However, without a further fix -- or AC knowing something they haven't told us -- the Aftermarket window of opportunity will only last a couple of weeks. In other cases like this where a 'phantom' extension has been put into the system, there's been just a single repayment due at the end of the extension -- all outstanding capital and accrued interest. In this case, however, AC have inserted a monthly interest payment a month after the original maturity, on 3/Apr. So, based on current practice, I'd expect Aftermarket activity to be suspended automatically three days after that.
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