mikes1531
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Post by mikes1531 on Sept 12, 2014 16:50:36 GMT
Seems to be a case of 'blink & you miss it'. Selection is growing though as S**** M******** has also now been extended, making 5 late bridges, with possibly L****** to come, so hopefully youll be able to pick some bits up. Looking for A****** myself!  I don't believe the Liv******* B L will have a similar reorganisation. One of the driving forces for the creation of loan extensions was to allow the payment to lenders of the interest for the last month of a loan's term. This is possible, however, only where AC have retained that interest in advance. The LBL had just three months' interest retained, so there is nothing that AC have in that loan's trust account that could be distributed to lenders, and thus there is very little advantage to be gained by a reorganisation. [The only gain I can see might be that the interest rate could be shown to be the default rate rather than the original rate, and accrued interest would be calculated correctly, but there's little advantage in that if the units can't be sold because the loan has a payment that is overdue.]
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j
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Penguins are very misunderstood!
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Post by j on Sept 12, 2014 17:01:27 GMT
Forgot to add wonder how long the units in Eppy will last as that might go into default soon too. About £170k's worth available at the minute I've already got enough Eppy, sadly! You might still be able to get rid of some. Whilst going down slowly, it is going down. There was £170k worth of units this am, now down to £166k. The process will accelerate as we get nearer to 25/9 & the likelihood of default gets more likely
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Post by Ton ⓉⓞⓃ on Sept 12, 2014 20:54:02 GMT
If the loan parts are too small then there's the risk that the interest will work out at less than a penny, so I think a minimum size should be £10 or £20, (or balance of loan if lower). Also too many trivial loans just adds system volume without significant value. You've made an assumption there  The only answer that occurs to me is for AC to work to several decimal places and to remember any rounding loss, reimbursing it later when the fractions become significant.
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niceguy37
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Post by niceguy37 on Sept 13, 2014 11:12:10 GMT
You've made an assumption there The only answer that occurs to me is for AC to work to several decimal places and to remember any rounding loss, reimbursing it later when the fractions become significant. I agree that it is possible to work to several decimal places, but I'd question whether it's worth the effort of selling loan parts of £1 or less, unless it is the small remaining balance of an old amortizing loan. Unless you just have some small amount of repayment looking for a home, and AI does it for you, is it worth buying a £2 loan? As we get more and more loans on the system over time we probably want to avoid too much clutter. But we do want to allow small investors to buy up say £20 loan chunks in order to be able to diversify fairly quickly.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Sept 17, 2014 11:21:00 GMT
Andrew,have you or your staff decided to stop monitoring the Q and A's on loan pages,or have you/they simply stopped providing answers?
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Post by andrewholgate on Sept 17, 2014 16:05:21 GMT
Andrew,have you or your staff decided to stop monitoring the Q and A's on loan pages,or have you/they simply stopped providing answers? I have had words. This should be being picked up now.
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spockie
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Post by spockie on Sept 19, 2014 15:08:30 GMT
Andrew,have you or your staff decided to stop monitoring the Q and A's on loan pages,or have you/they simply stopped providing answers? I have had words. This should be being picked up now. You may need to have more words.
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baz657
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Post by baz657 on Sept 19, 2014 15:38:23 GMT
In future can we have advanced warning of any fundamental changes? Go Cardless being turned off today came somewhat as a shock. We now have no means of instantly adding funds to our account if required.
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Vero
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Post by Vero on Sept 19, 2014 16:09:03 GMT
I have had words. This should be being picked up now. You may need to have more words. Yes, what is happening with G** Tranche 2, for example, andrewholgate? The borrower apparently repaid the loan to AC prior to Wednesday's loan expiration, but it's close of business Friday and AC has still not released this payment to the lenders.
Questions on this loan from Thursday are still unanswered. Having words is lovely, but a little taking of action would be better.
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Vero
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Post by Vero on Sept 19, 2014 19:39:41 GMT
You may need to have more words. Yes, what is happening with G** Tranche 2, for example, andrewholgate? The borrower apparently repaid the loan to AC prior to Wednesday's loan expiration, but it's close of business Friday and AC has still not released this payment to the lenders.
Questions on this loan from Thursday are still unanswered. Having words is lovely, but a little taking of action would be better.
Next... I*sw*ch Br*dg*ng L**n
17th Sep 2014 at 16:08 Lender update
Unfortunately the meeting scheduled for last week has postponed until today and so we have no further update as yet, pending a report on the outcome of today's meeting. We will provide a further update as soon as we have more information and at the latest by close of business on Friday 19 September. Starts with an excuse and ends with a broken promise.
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Vero
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Post by Vero on Sept 19, 2014 19:44:57 GMT
Next...
E*p*ng Br*dg*ng L**n
Last question answered 11 September, and even that was only this excuse:
"Unfortunately due to illness our relationship manager did not meet with the borrower today, but this has been re-scheduled for next week".
No update since, questions from 13 and 18 September unanswered.
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Vero
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Post by Vero on Sept 19, 2014 19:49:03 GMT
Next...
L*v*rp**l Br*dg*ng L**n
Question: On 17th Sep 2014 at 09:33 ***** asked:
"Have AC consciously decided to refuse to answer any more questions on this loan? thanks."
Answer: ◦This question has not yet been answered, but Assetz Capital are working to source an answer.
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oldgrumpy
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Post by oldgrumpy on Sept 19, 2014 20:42:02 GMT
Methinks AC staff are becoming snowed under with all these problems as many loans come up for repayment....and aren't. Unfortunately, repeated broken promises of updates on the Q & A, where information is restricted to registered members of AC, lead to gripes about those questions being repeated here on the forum, open for perusal by any Tom, Dick or Harriet.
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Post by andrewholgate on Sept 24, 2014 21:40:13 GMT
Ok, ok.
Ive vey been head down on a number of things (including canvassing at the Labour conference.....Tories next week). Simply not good enough from us.
It it will improve.
A
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mikes1531
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Post by mikes1531 on Sept 24, 2014 21:55:04 GMT
Before or after the new system is released? 
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