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Post by davidricketts1 on Jan 26, 2016 16:45:13 GMT
Do you just want to see the text describing the current position with the loan shimself ?
If so then it's on the Activity page of the loan.
No more emails (hopefully) given it generally takes the best part of a whole day to count votes that way.
A button at the bottom of an email could do whatever you want it to, ie populate an existing database with my vote, job done. My definite feedback is that the email as per screenshot below is not encouraging nor informative, if you leave the description and alternatives in the text of the email that would be ok, but please take a survey is definitely not likely to attract my attention image Does the surveymonkey route give you an instant answer weighted for holdings are are you still having to transcribe data? Thanks shimself.
We're still trying to refine this so hopefully we'll be able to get the text into the email next time (agree we need to attract your attention from the initial email).
We have to do some Excel jiggery pokery with the results to get the weighted answers per lender but it "should" be considerably quicker than the previous route.
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Post by davidricketts1 on Jan 26, 2016 15:31:54 GMT
The voting twice was something we checked when testing.
I'm not a Survey Monkey expert (thanks to the Marketing Team for their assistance here) so for the next one (due this Friday) I'll see if there is anything that can be done here.
I voted but wanted then to take a second look at the picture painted but surveymonkey wouldn't let me look at it. Can't you continue to send emails but add two voting buttons at the bottom Do you just want to see the text describing the current position with the loan shimself?
If so then it's on the Activity page of the loan.
No more emails (hopefully) given it generally takes the best part of a whole day to count votes that way.
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Post by davidricketts1 on Jan 26, 2016 13:55:11 GMT
Worked well for me.
Just one observation. By simply voting you get no record that you have voted and indeed what you voted for*.
I employed a pdf printer so I have my records complete! Just thought I would mention it since I presume I am not the only pedant who likes to keep chapter and verse
*I checked that you can't vote twice just in case the memory starts to go!
The voting twice was something we checked when testing.
I'm not a Survey Monkey expert (thanks to the Marketing Team for their assistance here) so for the next one (due this Friday) I'll see if there is anything that can be done here.
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Post by davidricketts1 on Jan 26, 2016 13:15:12 GMT
Worked very easy - as mentioned the advertising that it leaves though is not too good. If it saves a lot of time at your end no problems. Easy for the regulars such as those who use this board but inexperienced people or new people not so sure? being taken to 'dodgy - sign up' sites etc etc. That is my main issue here. Hopefully those people will contact the customer service team to be told it's fine.
However, we've had a number of people responding to the original email with a vote (in line with what the previous procedure was) and as such, I've arranged for a second email to be sent. I've also emailed all lenders in the loan directly to explain why the second email was sent (i.e. please don't vote by return email as it won't be counted).
I'd appreciate if everybody could vote from the second email.
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Post by davidricketts1 on Jan 26, 2016 12:50:20 GMT
All
Given we have been having to manually count your emails each time a vote is required we've been looking for a more automated solution prior to the votes being moved onto the website (planned for H1 this year as I understand it).
We've now found it and having tested it over the last few weeks the first request for lenders to vote has gone out via Survey Monkey on Loan 86.
I'm looking for a bit of feedback if that's OK:
- ease of use? - understanding of text? - does it look official? - better than the previous system?
Thanks very much in advance.
David
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Post by davidricketts1 on Jan 25, 2016 15:50:38 GMT
What I haven't worked out is why AC have suspended trading in this loan. Whichever way the vote goes, the repayments on this loan still are up to date so trading should be allowed at least until 18/Feb when the loan currently matures. Am I missing something? If you allow trading during the voting period, exactly what moment do you evaluate the holdings to determine how much each lender's vote counts for? It seems simplest if the count is unambiguous - i.e. lender holdings don't change during the voting period. Is the correct answer. Need to keep lender holdings the same for the vote to make any sense hence the suspension.
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Post by davidricketts1 on Dec 7, 2015 8:57:29 GMT
All
I've posted the following update that covers the position as to what happened with the repayment on Friday.
I wasn't best pleased to still be emailing the lawyer at 8pm on Friday evening attempting to get an explanation from him.
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Post by davidricketts1 on Dec 3, 2015 8:20:21 GMT
Which is correct.
If Option B is chosen then I'll be telling the borrower that we want sufficient funds from the refinance to fully repay the loan.
Apologies, I thought I'd made that clear?
Fully understood. In order to achieve that, the borrower needs to refinance unit 21, and the new finance company need a bit longer to achieve that. So let's have 13% on 580k over xmas, instead of 10% on 100k. I recently campaigned for backdated default interest and had partial success, I don't want to give that up so quickly. Actually no he doesn't. He can fully repay from funds that are expected on Friday. He's just asking not to.
If the vote goes against him he can't complete his refinance on Friday unless he fully repays as I won't release the security. In all likelihood the refinance goes away if he doesn't complete as soon as the new finance provider are ready.
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Post by davidricketts1 on Dec 2, 2015 17:02:32 GMT
This borrower is currently paying 13% on a loan with an LTV of under 60%. I'm happy with that, and if it takes a bit longer to incorporate unit 21 into the new refinance deal, then I'm happy with that too. So I'm voting B. Either you or I have fundamentally misunderstood the proposal... As I read it, the current refinance (without unit 21) would be going ahead anyway, and the question is merely over whether to allow the borrower to access some of the funds from the refinance (at a guess, they have other creditors who are lined up waiting to be paid too?) The residual loan would be a LTV rather below 50%, and depending on whether the refinance is sufficient to repay our loan in full, option A could be the only way to continue to receive further interest from the borrower after the refinance completes. Which is correct.
If Option B is chosen then I'll be telling the borrower that we want sufficient funds from the refinance to fully repay the loan.
Apologies, I thought I'd made that clear?
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Post by davidricketts1 on Jul 23, 2015 11:15:21 GMT
chris Can I suggest you add a 'next update due' message on loan pages, either on the loan header or at least at the top of the Q&A. Might eliminate some of the constant 'can we have update' questions leaving more time to answer useful questions
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Post by davidricketts1 on May 13, 2015 7:19:33 GMT
Borrowers' lawyers didn't think it was appropriate to tell us that they'd completed yesterday until this morning..... davidricketts1: Am I allowed to ask what AC's lawyers were doing at the time of completion? Or do I not understand how the process works? Of course you can mikes1531.
They were chasing the borrowers' lawyers to let them know what was happening....
In all seriousness, funds are sent from our end and the borrowers' lawyers are required to tell us that we have good title to the property being charged. This is an important stage as it depends when the loan and security documents are dated. This in turn allows the auction to be paid out and interest to start accruing to you guys.
Ideal for us is we get everything ready to go in an afternoon then transfer the funds the following morning. This gives the borrowers lawyers time to receive and either send on to a vendor or the borrower (depending on the nature of the transaction).
Does that make sense?
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Post by davidricketts1 on May 12, 2015 8:50:16 GMT
This despite everything apparently being good to go Friday! I detect a hint of left hand/ right hand here Borrowers' lawyers didn't think it was appropriate to tell us that they'd completed yesterday until this morning.....
I've asked IT to pay the auction out for me and backdate it to yesterday.
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Post by davidricketts1 on May 7, 2015 15:47:34 GMT
Needed slightly rewording so I've reposted it. Do you mean you are re-writing investor's questions? I have to say some of the phraseology in the Q strongly reminded me of a very frequent contributor to this forum (not you!). I hope the anticipated draw-down timescale is robust, be good to have a 'fast' one.
Sort of. We did have the agreement from the investor to do so.
Should hopefully have a couple of drawdowns tomorrow.
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Post by davidricketts1 on May 7, 2015 15:12:20 GMT
New loan #172 Public school £425k 10.25% 5yrs 35%LTV 1st charge & debenture Weirdly David Ricketts seems to be asking a question in the Q&A Needed slightly rewording so I've reposted it.
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Post by davidricketts1 on Apr 21, 2015 17:07:52 GMT
You're welcome....
Drawdown date is not something that shows up easily when looking at the behind the scenes data. Thanks. Always better to confront issues head on. Amazed you could understand my ramblings in the middle of the Q which even with the supplementary clarification confused me. As Im 2 for 2 on AC issue resolution today, going to chance my arm & go for a cheeky hattrick. Can we get the displayed rates on #68 CC & #39 W*******tt changed to the default rate of 13% rather than the 10% standard rate still showing? 39 I'm trying to get sorted given the position don't think it will come out of default. That will include back dating it until when first repayment was missed.
68 is a different case as I think that will come out of default meaning it's easier for the system to accrue default interest manually then credit you all manually when it's paid.
For info, it will accrue until loan is fully up to date including payment of that default interest.
I know the fault has been looked at previously on a number of occasions mikes1531 but I don't think anyone picked up the different drawdown date. As I said above, unless I do the drawdown then it's not clear when the actual date is.
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