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Post by andrewholgate on Aug 29, 2014 12:11:45 GMT
OK, that’s it for now. Thanks to you all for the questions and constructive comments. Hopefully you found it interesting and useful - if so, we’ll look to do this on a monthly basis so that you can tell us about things that we are doing well, and those that we might not be doing so well on, while also raising issues or questions about Assetz Capital.
We have a few things to take away from today, so thanks, but we will continue to look over the forum thread and answer questions as soon as we can. As ever, we are always in and out of the forum so we will always be available to answer questions and sort things out.
Thanks again - we very much appreciate your time and questions to help us grow and develop in to the best peer-to-peer platform there is.
Andrew and Chris.
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Aug 29, 2014 12:17:56 GMT
As rates rise, we actually become more competitive against the banks for borrowers, but less competitive for lenders, if we keep rates the same. Yes that does help, but the statement above suggest that your rates should rise, though perhaps not as much as base rates/LIBOR. I would be happy with floating rate providing I was happy with the benchmark. Whilst LIBOR has had many problems I would still prefer some benchmark like that than some AC rate. I think that explaining how it would work wouldn't be worth your effort at this stage. What about selling units at a premium?
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Post by andrewholgate on Aug 29, 2014 14:04:31 GMT
As rates rise, we actually become more competitive against the banks for borrowers, but less competitive for lenders, if we keep rates the same. Yes that does help, but the statement above suggest that your rates should rise, though perhaps not as much as base rates/LIBOR. I would be happy with floating rate providing I was happy with the benchmark. Whilst LIBOR has had many problems I would still prefer some benchmark like that than some AC rate. I think that explaining how it would work wouldn't be worth your effort at this stage. What about selling units at a premium? Again, under discussion but not imminent.
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mikeb
Posts: 1,072 
Likes: 472
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Post by mikeb on Aug 29, 2014 17:52:28 GMT
Hi This one might have been overlooked. It refers to the interest promised for the delays on these loans. Do you know when this will be paid? HW deal - The borrower had signed an agreement that fees would be payable as and when we raised the funds. As they didn't proceed, they are now liable for the fees and we are in the process of recovering them. Should we get recovery, any funds due to the affected lenders will be paid, but I must stress this is dependent on the recovery. R - We continue to pursue the borrower for further information but as of today, we have not had a response. Should this drag into next week, we will look to take a more robust stance with the borrower. Y - I thought this had been resolved? If it hasn't please let me know and we will action ASAP. Thanks andrewholgate for the clarification on HW/R ... (and ilmoro for re-flagging it!) On Y******re -- no it's not sorted. The cashback was delayed by just over 2 months from drawdown, then paid incorrectly on 22nd July, it took another 3 weeks to get an explanation as to why it was wrong. On 12th August it would be sorted out over "the next couple of days", yet still nothing's turned up on the statement to say it's happened. Have a look at the Q&A, it's all there -- this is the second time the cashback promise has got stuck somewhere in the pipe, with the belief that it was resolved 
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Post by andrewholgate on Sept 3, 2014 10:20:17 GMT
HW deal - The borrower had signed an agreement that fees would be payable as and when we raised the funds. As they didn't proceed, they are now liable for the fees and we are in the process of recovering them. Should we get recovery, any funds due to the affected lenders will be paid, but I must stress this is dependent on the recovery. R - We continue to pursue the borrower for further information but as of today, we have not had a response. Should this drag into next week, we will look to take a more robust stance with the borrower. Y - I thought this had been resolved? If it hasn't please let me know and we will action ASAP. Thanks andrewholgate for the clarification on HW/R ... (and ilmoro for re-flagging it!) On Y******re -- no it's not sorted. The cashback was delayed by just over 2 months from drawdown, then paid incorrectly on 22nd July, it took another 3 weeks to get an explanation as to why it was wrong. On 12th August it would be sorted out over "the next couple of days", yet still nothing's turned up on the statement to say it's happened. Have a look at the Q&A, it's all there -- this is the second time the cashback promise has got stuck somewhere in the pipe, with the belief that it was resolved OK
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Sept 6, 2014 17:41:35 GMT
Thanks for prodding this one along, it now balances correctly.
(Someone was up late last night, 21:37 my statement says!).
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