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#441
Jul 20, 2018 21:16:22 GMT
Post by pikeman on Jul 20, 2018 21:16:22 GMT
On Thursday 19th July the interest rate on loan 441 was defaulted to 0 after being told the day before that the refinance had come through.I don't expect that our capital will be repaid until Monday at the earliest so it is likely we will miss out on 4 days interest. For some this will be a reasonable some of money.
As an aside I have not received any interest from the refinance of loan 453. Is that the same for everyone
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cb25
Posts: 3,528 
Likes: 2,668
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#441
Jul 23, 2018 8:51:40 GMT
Post by cb25 on Jul 23, 2018 8:51:40 GMT
Just checked this loan with AC via Livechat, i.e. what's happening and why 0% ?
A: "I have checked this with our Portfolio Team and they have confirmed that they are expecting the repayment to be made not later than close of play today."
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#441
Jul 23, 2018 14:15:57 GMT
Post by pikeman on Jul 23, 2018 14:15:57 GMT
Ive just been chatting with Livechat.Not much help only going to pass it onto queries team. I find 4 days with no interest on a loan unacceptable.
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#441
Jul 23, 2018 15:04:26 GMT
cb25 likes this
Post by pikeman on Jul 23, 2018 15:04:26 GMT
Just received an email from Assetz. They have not received the money yet for 441. So my question to them was was, why was the interest zeroized on Thursday. Investors will be missing out on 4 days interest
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Jul 23, 2018 15:12:24 GMT
Just received an email from Assetz. They have not received the money yet for 441. So my question to them was was, why was the interest zeroized on Thursday. Investors will be missing out on 4 days interest
AC have just answered a couple of questions on this loan
Q: Why is the loan rate displayed as 0% ? A: This has now been rectified. Full repayment of this loan is anticipated by cob today. Interest will then be paid to lenders in full.
Q: This loan has an outstanding interest payment from the 10th of July. As the loan is not in default, can I ask if the GBBA provision fund will be used to pay this outstanding interest for GBBA parts holders, now that it is well past the 7 days grace period? A: We anticipate full repayment of this loan by cob today. All accrued interest will then be paid to lenders in full.
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#441
Jul 24, 2018 8:51:34 GMT
Post by danielbird193 on Jul 24, 2018 8:51:34 GMT
Update from AC suggests the loan was expected to be repaid by end of the day yesterday. It is still showing as outstanding this morning so I have asked whether the redemption completed as
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cb25
Posts: 3,528
Likes: 2,668
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#441
Jul 24, 2018 10:58:39 GMT
Post by cb25 on Jul 24, 2018 10:58:39 GMT
Update from AC suggests the loan was expected to be repaid by end of the day yesterday. It is still showing as outstanding this morning so I have asked whether the redemption completed as From Livechat today:
- we haven't yet received the funds in order for this to be repaid.
- Investors in this loan will continue to accrue interest against this loan until it is repayment.
- I'm afraid I won't be able to confirm a timeframe regarding the repayment.
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bg
Member of DD Central
Posts: 1,368
Likes: 1,929
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#441
Jul 24, 2018 15:45:56 GMT
cb25 likes this
Post by bg on Jul 24, 2018 15:45:56 GMT
Repayment has now been made.
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niceguy37
Member of DD Central
Posts: 504
Likes: 254
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#441
Jul 24, 2018 16:20:12 GMT
Post by niceguy37 on Jul 24, 2018 16:20:12 GMT
Not for me yet.
And I guess by the time it gets around to me a lot of the currently availability will have been hoovered up by those lenders fortunate enough to have been repaid first.
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cb25
Posts: 3,528
Likes: 2,668
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#441
Jul 24, 2018 16:56:37 GMT
Post by cb25 on Jul 24, 2018 16:56:37 GMT
Not for me yet. And I guess by the time it gets around to me a lot of the currently availability will have been hoovered up by those lenders fortunate enough to have been repaid first. Trading on the loan has been suspended whilst they work out who gets what.
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bg
Member of DD Central
Posts: 1,368
Likes: 1,929
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#441
Jul 24, 2018 17:22:10 GMT
Post by bg on Jul 24, 2018 17:22:10 GMT
Loan #449 also repaid today, that's another £730k, so a total of £5m repaid today. When it all hits investors accounts we should see some buying....
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#441
Jul 25, 2018 14:52:32 GMT
Post by pikeman on Jul 25, 2018 14:52:32 GMT
Monies still not repaid to investors
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daveb4
Member of DD Central
Posts: 220
Likes: 116
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#441
Jul 25, 2018 16:56:20 GMT
cb25 likes this
Post by daveb4 on Jul 25, 2018 16:56:20 GMT
With 441 gone now biggest GBBA2 account is 3.8% of portfolio, much happier
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