j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 30, 2014 15:29:00 GMT
Would someone kindly remind me what this loan was all about please. I have no idea whether I have been "clever", appropriately cautious or just lucky. I may have put a shadow bid in but then again, I may not have. There is no record of shadow bids, is there? Many thanks. Copy of email below from AC, if you had a bid, shadow or otherwise, you should have received one like it Good afternoon Unfortunately we have been unable to come to an agreement with the borrower as to an increased rate we felt would be appropriate following the non-disclosure of his recent bankruptcy. As a result we will not be proceeding with this loan. The auction will be rejected in the next few minutes and funds returned to lenders accounts. Apologies again. David Ricketts Credit Operations Manager
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star dust
Member of DD Central
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Post by star dust on May 30, 2014 15:47:42 GMT
If you don't seem to have an email it would be worth checking your junk folder as AC seem to group Bcc these type of emails and I found mine in my junk folder earlier on.
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Post by batchoy on May 30, 2014 16:00:23 GMT
Would someone kindly remind me what this loan was all about please. I have no idea whether I have been "clever", appropriately cautious or just lucky. I may have put a shadow bid in but then again, I may not have. There is no record of shadow bids, is there? Many thanks. If you shadow bid your available shadow account balance will have increased or if you bid to cash balance will have increased and in both instances accepted bids total will have decreased. Other than these event there are now no public records visible on AC. If I recall it was a fairly standard anonymous bridging loan, but as this thread shows one of the borrowers failed to disclose their recent credit history which was picked up by AC themselves and not the introducer. It is comforting to note that in cases of anonymous loans AC are doing the DD that we are unable to do, but it raised some interesting points about how much the introducer was due to get should this loan gone ahead and what the fallout will be for them given that they missed what should have been a fairly basic bid of DD.
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Post by chielamangus on May 30, 2014 16:32:46 GMT
Yes, I received the email but I could not for the life of me recall what the auction was about or whether I had bid. Presumably if I had, it would have been via the shadow account - and I don't monitor that balance. It may seem cavalier not to know these things but with so many bids on different platforms I could spend every hour of the day keeping track. My approach is to assess the offer and either bid or not - and then forget it. With hard cash upfront as with FC and shorter draw down periods one is more aware of what bids are successful and which are not. With AC things drag on so long ....
Was it a single house loan? LTV? Any distinguishing features?
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mikeb
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Post by mikeb on May 30, 2014 17:07:52 GMT
You can still access the page for the auction at [munged so it doesn't violate anything, I hope -- insert an appropriate county and your favourite P2P sitename]
http://www.assetz*******.co.uk/investments/auction/h*******shire-bridging-loan-6-month-loan-1-per-month-55-loan-to-value/
... even though all the links from your bids/shadow bids etc. have gone.
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Post by chielamangus on May 30, 2014 19:12:10 GMT
Thanks, MikeB. I can see I was lucky as I considered that one at the lower risk end and had bid a reasonable sum.
I wondered how you still had the link and then I checked my history for May 4 - and bingo - there it was. Now I know. Thanks for the direction. And I won't be in such a hurry to clear my browsing history in future.
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mikeb
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Post by mikeb on May 31, 2014 19:20:48 GMT
I wondered how you still had the link and then I checked my history for May 4 Similar idea: I just started typing the county name into Firefox's address bar, it groped around a bit, and made a couple of likely suggestions as to what I was trying to type 
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