Nomad
Member of DD Central
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Post by Nomad on Jun 28, 2017 10:37:02 GMT
Do any forum members more experienced than I have a view on the current "Lender vote"?
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Post by bracknellboy on Jun 28, 2017 10:52:24 GMT
Nomad: if you are a lender with AC, you may wish to consider requesting access to the board reserved for confirmed AC lenders. Instructions on how to request access to it can be found at the top of he page if you simply click on the 'Assetz Capital' sub-forum. Not that I necessarily want to encourage discussion which could be in the open part of the forum to go this semi closed part, but it exists and you will be missing out on some discussios there. Including this loan.
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Post by funtimedave on Jun 28, 2017 10:58:49 GMT
Thanks for the update bracknellboy.
I also appreciate your sentiment about conversations happening in a semi closed off part of the forum. Out of interest is there any history/reason why this area exists and these types of conversations happen there?
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adrianc
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Post by adrianc on Jun 28, 2017 17:21:38 GMT
Out of interest is there any history/reason why this area exists and these types of conversations happen there? Simply because it's only open to proven lenders, with the assistance of AC, so the borrower anonymity restrictions can be lifted.
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Post by crabbyoldgit on Jun 28, 2017 17:39:36 GMT
comments tend to be a little more lively, informitive and open within limits, the borrower of course could become a lender to gain access, but on occasion loans i was interested in have been dumped due to insights gained there from much more experianced and skilled investors whos depths of due diligence into the past history of the borrower's or knowledge of risks in the field in which the loan operates far exceed mine.
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Post by Ton ⓉⓞⓃ on Jun 28, 2017 22:11:12 GMT
Out of interest is there any history/reason why this area exists and these types of conversations happen there? Simply because it's only open to proven lenders, with the assistance of AC, so the borrower anonymity restrictions can be lifted. You could also add that to some degree Lender anonymity is lifted too but only in the eyes of AC as if they wanted they could identify forum users, as this part of the forum in only open to regstered users of Assetz Capital. It takes a few days to get access to the "Pink pages" so it might be best to have another discussion here Anyway, In the vote I intend to reject Proposal A so that we can have a second vote on Proposals B & C, where I'm minded to go for B, where we leave the Borrower in charge of his business to sell down the properties and accrue interest all being well over the next 18months.
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trouble
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Post by trouble on Jun 29, 2017 1:05:06 GMT
Simply because it's only open to proven lenders, with the assistance of AC, so the borrower anonymity restrictions can be lifted. You could also add that to some degree Lender anonymity is lifted too but only in the eyes of AC as if they wanted they could identify forum users, as this part of the forum in only open to regstered users of Assetz Capital. It takes a few days to get access to the "Pink pages" so it might be best to have another discussion here Anyway, In the vote I intend to reject Proposal A so that we can have a second vote on Proposals B & C, where I'm minded to go for B, where we leave the Borrower in charge of his business to sell down the properties and accrue interest all being well over the next 18months. That's exactly my view Ton
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Post by Ton ⓉⓞⓃ on Jul 11, 2017 22:13:43 GMT
The result is in and voters have rejected the Borrowers proposal for a full and final settlement which was less than the inital loan size, so AIUI we now have a second vote where we now look at Proposals B or C as outlined in the original AC/surveymonkey email (my AC email was dated 27/6 at 13.06 title started with "Assetz Capital - Lender Action Required - #240 Y*** etc"),
Loan holders will be contacted in the next seven days todays update says about the second vote
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trouble
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Post by trouble on Jul 13, 2017 11:57:38 GMT
Just looked on their website, 120 listings, said to own all the properties, fully let for 16/17 (banner flashed up telling me) so they can't be short of a few pounds and in my eyes are wriggling
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jlend
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Post by jlend on Jul 13, 2017 12:55:02 GMT
Just looked on their website, 120 listings, said to own all the properties, fully let for 16/17 (banner flashed up telling me) so they can't be short of a few pounds and in my eyes are wriggling Does anyone know if it's just the assetz capital properties that are the problem or is it a more general problem across the portfolio of 120 properties? I notice for some of the other properties Clydesdale Bank PLC have a charge registered for example. I wonder if similar conversations are going on with that lender.
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Post by crabbyoldgit on Jul 13, 2017 18:33:34 GMT
i hope so ,then the bank can give them a big wedge of debt forgiveness which can be used to pay us in full  . |
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am
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Post by am on Jul 14, 2017 1:57:10 GMT
Just looked on their website, 120 listings, said to own all the properties, fully let for 16/17 (banner flashed up telling me) so they can't be short of a few pounds and in my eyes are wriggling I haven't been able to find a website for the borrower. I found a property developer (first word split in two, and 2nd word in the name singular rather than plural), a Florida company, and a Lancaster student houses company (with a space in the middle of the first word of the name, and second word replaced by Lets). None of these are the borrower. I suspect that you found the last of these. (I wonder if the forum rules allow me to identify a non-borrower?)
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