ceejay
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Post by ceejay on May 30, 2018 7:56:43 GMT
So I was looking at the documents for upcoming loan #735, and in particular the valuation report ... but many details appear to have been redacted, specifically anything indicating the exact location of the property (although some photos remain).
Puzzled... especially as the "Security" tab of the loan details includes the post code of the property under charge.
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cb25
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Post by cb25 on May 30, 2018 8:39:59 GMT
So I was looking at the documents for upcoming loan #735, and in particular the valuation report ... but many details appear to have been redacted, specifically anything indicating the exact location of the property (although some photos remain).
Puzzled... especially as the "Security" tab of the loan details includes the post code of the property under charge.
I used Livechat to ask AC why so many blanks in the reports.
Answer: "I will have to speak with the credit team as they are the people who upload and manage this information...I will go over and ask the credit team and come back to you via email"
Some time later, AC's emailed response:
"I have spoken with the credit team about this particular loan and was advised We need the Borrowers permission in respect of what is published on the website. In this case the Borrower has requested that information that he regards sensitive to the public domain, i.e. financial information, competitive information, is redacted (or withdrawn) from the report. Whilst it is understood that this makes a investment decision more complicated for a Lender, internally we have had sight of the full detail."
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Perhaps this loan should play out something like this: Borrower: we won't share our details with you Lenders: fine, we won't share our money with you
Anyway, this loan's not for me. As well as the above, it's £6.5m and I've no confidence AC know how to manage this size of loan if they go 'bad' (I've got £5500 stuck in £6m loan 227 and no sign of a recovery plan from AC). Edit: appears I have invested - £127 via the 30DAA !
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