|
|
Post by hammertime on Nov 15, 2018 16:12:38 GMT
But they just don't want to listen to us its always a new update next month.
|
|
lobster
Member of DD Central
Posts: 636 
Likes: 467
|
Post by lobster on Nov 15, 2018 17:27:09 GMT
I guess it's possible that AC may admit to a degree of negligence, and so offer a partial repayment of the loan out of their own pockets.
If matters are taken to the Ombudsman, they are a are a powerful outfit with a lot of government backed clout, and if they find in favour of the borrowers, I'm sure they have the authority to force AC to pay.
|
|
|
|
Post by captainconfident on Nov 15, 2018 17:38:25 GMT
A whole group of us have begun the formal complaints process and I am surprised that you cb25 did not also do this as you have posted a lot on the subject. I'm not in the I** loans and have consequently made very little contribution to this thread, unlike DM loan 227 where I have been quite active as I'm in it to the tune of £1000s. Whoops, I do apologise. Your nose to grindstone holding on DM is very much valued and I stand corrected (in my orthopedic shoes) while eating this humble pie. Yum.
|
|
angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
|
Post by angrysaveruk on Nov 15, 2018 18:12:04 GMT
What I have always found odd about none of the turbines being operational is I know a farmer who installed a large wind turbine on his land - I wouldnt exactly describe him as Nobel Prize Material but the whole thing seemed to go pretty much to plan. I am pretty sure if we had lent Roger a few million quid we would have a few spinning turbines earning ££££ with the recent wind storms and he would have a nice shiny new tractor.
|
|
|
|
Post by jevans4949 on Nov 16, 2018 14:46:31 GMT
What I have always found odd about none of the turbines being operational is I know a farmer who installed a large wind turbine on his land - I wouldnt exactly describe him as Nobel Prize Material but the whole thing seemed to go pretty much to plan. I am pretty sure if we had lent Roger a few million quid we would have a few spinning turbines earning ££££ with the recent wind storms and he would have a nice shiny new tractor. As far as I understand, the problem with the I** sites is that they are separated form the National Grid by fields belonging to third parties over which wayleaves (or the Scottish equivalent) are required, and the National Grid in Scotland has more turbines than they can handle. If Roger's land has easy access to the Grid, then his life would have been simpler. Did he have his up and running before the feed-in tarriffs were cut?
|
|
|
|
Post by hammertime on Nov 16, 2018 17:05:08 GMT
Things seem to be getting worse and worse with A/C at the moment this is how things were at F/C when most investors left maybe its time to get out while the going is good.
|
|
|
|
Post by brightspark on Nov 16, 2018 17:22:05 GMT
What I have always found odd about none of the turbines being operational is I know a farmer who installed a large wind turbine on his land - I wouldnt exactly describe him as Nobel Prize Material but the whole thing seemed to go pretty much to plan. I am pretty sure if we had lent Roger a few million quid we would have a few spinning turbines earning ££££ with the recent wind storms and he would have a nice shiny new tractor. As far as I understand, the problem with the I** sites is that they are separated form the National Grid by fields belonging to third parties over which wayleaves (or the Scottish equivalent) are required, and the National Grid in Scotland has more turbines than they can handle. If Roger's land has easy access to the Grid, then his life would have been simpler. Did he have his up and running before the feed-in tarriffs were cut? This doesn't half sound like a replay of the FS Northern Ireland wind turbine fiasco right down to the question of way-leaves and reduction to the feed in tarriffs at a critical time.
|
|
angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
|
Post by angrysaveruk on Nov 16, 2018 17:29:13 GMT
What I have always found odd about none of the turbines being operational is I know a farmer who installed a large wind turbine on his land - I wouldnt exactly describe him as Nobel Prize Material but the whole thing seemed to go pretty much to plan. I am pretty sure if we had lent Roger a few million quid we would have a few spinning turbines earning ££££ with the recent wind storms and he would have a nice shiny new tractor. As far as I understand, the problem with the I** sites is that they are separated form the National Grid by fields belonging to third parties over which wayleaves (or the Scottish equivalent) are required, and the National Grid in Scotland has more turbines than they can handle. If Roger's land has easy access to the Grid, then his life would have been simpler. Did he have his up and running before the feed-in tarriffs were cut? Farmers are basically business people so he has alot of common sense and I cant imagine he would invest a large sum (of his own money not other peoples) in a turbine he might not be able to get permission to connect to the grid - infact I believe he has pylons running over his land  As far as I know it was when turbines were still fairly profitable. Another farmer near him had built a large solar array so I think he want to keep up with the neighbours.
|
|
bod
Member of DD Central
Posts: 83 
Likes: 28
|
Post by bod on Nov 23, 2018 18:42:39 GMT
New email update received
|
|
angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
|
Post by angrysaveruk on Nov 23, 2018 20:18:21 GMT
New email update received Read it and to be fair to AC they are doing everything they can to recover the money.
|
|
|
|
Post by bikeman on Nov 23, 2018 22:13:58 GMT
New email update received Read it and to be fair to AC they are doing everything they can to recover the money. Really? From what I see there is again bugger all progress on #437 N*****n. They took our money on the promise of a LTV of 60% that didn't exist and then ignored their own schedule for it's release on an empty field. Then for the past year + they've done bugger all but fob us off. The legal action against their monitoring surveyor drags on with the draft of a letter that is taking months. They freely admit that the borrower is ignoring them and they stand no chance of recovery but still they dither about taking action. Lets face it any action now will incur cost for AC and potentially result in a payout of their woefully inadequate provision fund. They're going to keep kicking this down the road for as long as possible. At the moment I'm allowing them to go through their sham of a complaints process. I am seriously thinking the best way to recover my money is to take a loan with AC - they obviously do no checks and will do fk all to recover it.
|
|
angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
|
Post by angrysaveruk on Nov 24, 2018 9:41:06 GMT
They have also lent money to help with the completion of the 2 turbines that are near completion. There is the possibility of some recovery here, which is a positive from my perspective.
|
|
|
|
Post by hammertime on Nov 30, 2018 15:52:53 GMT
Hi does any one know the longest amount of time its taken A/C to resolve a default and what is the worst financial outcome. Are they any good at retrieving lenders investments. With F/C they were awful but i find it better here.Any advice.
|
|
|
|
Post by brightspark on Nov 30, 2018 16:48:48 GMT
I am not in these wind turbine loans. I was in the FS failed Northern Ireland wind turbine loan. There the borrower borrowed against the value of the turbine on the basis that it would be commissioned before the 25 year tariff rate was reduced a short time later by government. It never was and investors were left with a wind turbine to sell based on a lower 25 year tariff. At the same time a turbine which investors were assured was spanking new and practically ready to roll once a few wires were connected almost overnight turned into an out of date installation in need of expensive up-dating. The turbine was eventually sold at a knock down price. Recovery was around 37%. AC sound to be doing a little better but it would not surprise me if investors take a 40%-50% haircut. Time will tell.
|
|
|
|
Post by hammertime on Nov 30, 2018 17:06:45 GMT
Thanks for your help. But there seems to be other things going on here,what with the money being lent out by A/C.
|
|
