trouble
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Post by trouble on Dec 16, 2016 20:56:46 GMT
Bromham Development Loan (#171) which has been accruing at the default rate of 13% since May this year has fully redeemed today, with funds to be credited to lenders (probably) on Monday. Its an interest rollup loan, and although some interest payments have been made whilst in default most of the interest has rolled up until today. This last week has been painful 
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iren
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Post by iren on Dec 19, 2016 19:45:30 GMT
The display showed me as having around £7 interest outstanding, but I have been credited with only £0.02 and the loan now shows as redeemed. I have emailed Assetz to query.
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Post by mrclondon on Dec 19, 2016 19:50:57 GMT
The display showed me as having around £7 interest outstanding, but I have been credited with only £0.02 and the loan now shows as redeemed. I have emailed Assetz to query. I assume you are referring to #171 Bromham. Looking at my records, I was expecting c. £256 interest but received £215.18 split across 2 payments. Hmm. I will also email to query.
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iren
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Post by iren on Dec 19, 2016 20:09:08 GMT
Yes, 171.
I sold the entire capital a good while ago. The £0.02 appears to be a small amount of interest accrued when I briefly repurchased a nominal stake in recent weeks. The residual of the interest on the larger stake that I held earlier remains unpaid.
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mikes1531
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Post by mikes1531 on Dec 20, 2016 4:33:30 GMT
The display showed me as having around £7 interest outstanding, but I have been credited with only £0.02 and the loan now shows as redeemed. I have emailed Assetz to query. I assume you are referring to #171 Bromham. Looking at my records, I was expecting c. £256 interest but received £215.18 split across 2 payments. Hmm. I will also email to query. I don't expect this is enough to explain the discrepancy described, but the loan's Repayment tab is showing £145.20 due on 23/May/16 that still hasn't been paid -- despite the loan being classified as Repaid. The two interest payments I received totalled 5.7% of my capital repayment. That compares to 7.3% for the loan as a whole. I'm afraid I haven't a clue whether that means I've been short-changed, because I've bought and sold loan parts over the term of the loan. Please let us know what AC say when they do respond.
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kermie
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Post by kermie on Dec 20, 2016 7:38:07 GMT
Not sure what's gone on with #171. In noted down the "Interest Accrued" figure on the 16th as £47.90, but I only got £20.66 yesterday.
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Post by mrclondon on Dec 20, 2016 12:26:37 GMT
I've just received an extra £40.59 interest for Bromham (171) again split across 2 payments, which takes my total interest received upto the £256 I was expecting.
All's well that ends well.
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iren
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Post by iren on Dec 20, 2016 14:11:07 GMT
Yes, I've also received the extra £7.05 I was due on 171. Appears that this loose end has been tied up.
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mikeb
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Post by mikeb on Dec 21, 2016 18:23:06 GMT
The display showed me as having around £7 interest outstanding, but I have been credited with only £0.02 and the loan now shows as redeemed. I have emailed Assetz to query. I assume you are referring to #171 Bromham. Looking at my records, I was expecting c. £256 interest but received £215.18 split across 2 payments. Hmm. I will also email to query. I asked on the Q&A too. Somewhere a 14k chunk of interest related to the 23rd may repayment date fell down the back of the sofa, and was found. Fortunately. As shown at the time of the error, only 39k of interest "fully paid" the 53k interest payment. Never mind the £145 in loose change 
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oldgrumpy
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Post by oldgrumpy on Jan 27, 2017 12:39:17 GMT
Loan #392. One payment made, on time. "Trading is temporarily suspended on this loan. Please see the Lender Updates on the Activity Tab for details." AC - Not very bright when you go to Activity Tab and see "no recent activity". Then when someone asks the question in Q and A, the answer is this: Thank you for your question. Trading has been suspended to allow a subsequent tranche of this development loan to be paid out. Once done so trading will resume. OK, then put it in the activity tab straight away to stop 94765(+ or -) investors asking the same question. Don't just leave it. 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 27, 2017 13:43:14 GMT
Loan #392. One payment made, on time. "Trading is temporarily suspended on this loan. Please see the Lender Updates on the Activity Tab for details." AC - Not very bright when you go to Activity Tab and see "no recent activity". Then when someone asks the question in Q and A, the answer is this: Thank you for your question. Trading has been suspended to allow a subsequent tranche of this development loan to be paid out. Once done so trading will resume. OK, then put it in the activity tab straight away to stop 94765(+ or -) investors asking the same question. Don't just leave it.
94765 -1 Of course, the clever amongst us, noticed that there was apparently an update on 26/1 but nothing with that date in activity or Q&A so checked the docs where the new CR & MS report had been added explaining all. I nearly posted a Q answering the previous Q but thought that might just confuse them.  That said your original point is valid. This wasnt the only loan yesterday (forget which) where a further drawdown was due and docs were uploaded, agian no activity statement to highlight this. Wasnt suspended but probably will be and again without explanation so. 94764 questions imminent.
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happy
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Post by happy on Jan 27, 2017 14:43:44 GMT
This has happened a few times before, chris, in the interests of lenders blood pressure and precious ÄC staff time perhaps a different flag could be set that puts up an appropriate banner explaining that Trading has been suspended on this to allow a subsequent tranche of loan to be paid out. Once done so trading will resume. for example. It would be much simpler for AC staff to just set one flag on the loan than have to remember to post an update as well. JMHO |
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oldgrumpy
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Post by oldgrumpy on Jan 27, 2017 15:02:03 GMT
This has happened a few times before, chris , in the interests of lenders blood pressure and precious ÄC staff time perhaps a different flag could be set that puts up an appropriate banner explaining that Trading has been suspended on this to allow a subsequent tranche of loan to be paid out. Once done so trading will resume. for example. It would be much simpler for AC staff to just set one flag on the loan than have to remember to post an update as well. JMHO And when trading has resumed PLEASE place a marker on our loan page to show that our targets remain suspended. We need to have that visible so we can reactivate them if required. This is about the fourth request for this. Our loan pages show what our target settings are, but DON'T show us later that AC has suspended them but not reactivated them.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 1, 2017 23:34:43 GMT
In case anyone gets excited by the wealth of updates provided today. Most of them relate to loans in recovery which have been given an default extension of 5 years (presumably to avoid the 0% interest rate issue)
In addition, #379 has been suspended for a further drawdown but AC have forgotten to provide the activity update explaining why, #331 hasnt been suspended but probably will be shortly due to a further drawdown (CR/MS uploaded) and #313 is suspended & broken like #392 due to data issues following a further drawdown. Maybe thats what tomorrow's maintenance is for.
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ianj
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Post by ianj on Feb 2, 2017 7:14:41 GMT
This has happened a few times before, chris , in the interests of lenders blood pressure and precious ÄC staff time perhaps a different flag could be set that puts up an appropriate banner explaining that Trading has been suspended on this to allow a subsequent tranche of loan to be paid out. Once done so trading will resume. for example. It would be much simpler for AC staff to just set one flag on the loan than have to remember to post an update as well. JMHO And when trading has resumed PLEASE place a marker on our loan page to show that our targets remain suspended. We need to have that visible so we can reactivate them if required. This is about the fourth request for this. Our loan pages show what our target settings are, but DON'T show us later that AC has suspended them but not reactivated them. Not only is nothing done to address the issue, but what is even more galling, IMO, is the apparent refusal by chris , or anyone else, to even acknowledge that this system 'feature' might cause anyone a problem. Poor show!
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