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Post by oppsididitagain on Dec 20, 2017 12:01:05 GMT
So the borrower originally wanted the auction to be moved forward, so drawdown could be quicker and now this !
After discovering some adverse information in relation to this borrower, Micro Loan trading has been suspended as a precautionary measure. Our risk team are currently liaising with the borrower, loan guarantors and introductory broker in relation to this matter and a full update will be provided in due course.
Is this another bad loan less than 3 months into the term ?
It must be just a Coincidence its from the introducer who brought us L*s J*li L*mi*ed and J*n Re*ai* Gr*up who also defaulted with in 3 months !!
Lets hope not !
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Post by captainconfident on Dec 20, 2017 20:15:38 GMT
The presence of that introducer was the single reason I avoided this loan. No such red flags with Tr****** Tr***** though, and that looks to have gone down after a few hours of getting the cash..
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Post by es2013david on Dec 21, 2017 9:13:12 GMT
Once again, substantial residential property assets claimed (without proper appraisal), so there should be ample margin to repay lenders ... or not? Another application just loaded, R** K*****, offers a second charge over property with substantial "equity", yet the "Property Valuation" link opens a document that appears to be an estate agents window card. The introducer makes clear in answer to my query that there is NO valuation available etc. etc. Applicants, introducers and brokers need to be reminded of the Fraud Act 2006 with regard to false representation in order to obtain financial advantage etc... www.legislation.gov.uk/ukpga/2006/35
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