crabbyoldgit
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Post by crabbyoldgit on Jun 2, 2017 20:04:39 GMT
The lesson for me here is no monitoring surveyor, no investment. Looks like very little practicle work has been done on site since the drawdown. A monitoring surveyor with staged drawdown on evidence of progress on site seems to be essential to protect your investment and retain control of the loan.
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jonah
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Post by jonah on Jun 3, 2017 6:51:03 GMT
Email received regarding loan #330. Given that I have around £215 in this loan via the GBBA, I assume I'll be covered by the provision fund? One to watch in terms of how the PF works and what it pays out on... will help shape my future use of GBBA.
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Post by lynnanthony on Jun 3, 2017 7:35:42 GMT
Email received regarding loan #330. Given that I have around £215 in this loan via the GBBA, I assume I'll be covered by the provision fund? Bit of a disappointing situation given the LTV was just over 50% LTV wasn't 50%. LTGDV was close, at 54%. LTV at time of loan was 80%.
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agent69
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Post by agent69 on Jun 3, 2017 8:59:11 GMT
Bit of a disappointing situation given the LTV was just over 50% LTV wasn't 50%. LTGDV was close, at 54%. LTV at time of loan was 80%. On the browse loan page it is stated as LTV = 53.33%. It's not until you look a bit deeper that the LTGDV appears.
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tonyr
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Post by tonyr on Jun 3, 2017 13:40:52 GMT
267 - This loan was redeemed in full by the Borrower on Wed 31 May. Wonder when we will see some cash Humpf. Not looking good for today, so that'll be Monday or a full five days of lost interest. I wonder why it takes so long now, is 3 working days really "as soon as possible."? Arrived at "2nd Jun 2017 at 23:28"
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Post by lynnanthony on Jun 8, 2017 19:17:51 GMT
272 has paid off early.
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ianj
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Post by ianj on Jun 8, 2017 20:28:05 GMT
Not exactly an update, but a Q & A today that stirred the my inner pedant. Loan #304
Q
Payment overdue yet again. What steps are being taken to remedy this repeated tardiness?
A
Thank you for your question. Please note that as a result of its complexity ?  ?, the AC team is unable to provide an immediate answer and will need to seek information from other third parties. We aim to have an answer or, at the very least, a further update on progress within the next five working daysThe question that immediately sprung to my mind was why any third party would need to be consulted as to the actions the AC team were themselves undertaking to resolve the siuation? "What's that you say?" ..... "Right, so they haven't got an answer 'cause they haven't done anything yet." ...... "OK, got it, just playing for time, eh? A tad cynical perhaps, but you may be right." And, if anyone wants one, the (only slightly tongue-in-cheek) moral of this is........... a 'copy & paste' approach to communications might not always convey the intended message! |
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SteveT
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Post by SteveT on Jun 14, 2017 15:06:06 GMT
The majority of #199 (Galashiels Dev. Loan) looks to have just been repaid. No update as yet.
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rxdav
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Post by rxdav on Jun 14, 2017 18:43:55 GMT
90%+ of my capital now repaid on #199 - interest still awaited.
Lender Update - Repayment
14th Jun 2017
Dear Lender
We are in receipt of some monies from the Administrators in relation to the sales outlined in our previous update. We will be distributing the net amounts to lenders shortly. As per our terms, your capital will be repaid before your interest.
Our next update will be provided by close of business Wednesday 23 August 2017.
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ilmoro
Member of DD Central
'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 Jun 16, 2017 13:43:37 GMT
For those who like details, the latest administrators report for #199 is available on CH
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Post by lynnanthony on Jun 20, 2017 15:34:48 GMT
199 capital now paid off completely, and some interest. Still expecting some further interest some time.
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rxdav
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Post by rxdav on Jun 20, 2017 19:54:12 GMT
All references to #199 seem to have been removed from the website (please tell me if I've missed something) - even though further interest is still due? Furthermore, no email yet received from AC to inform lenders when the outstanding interest will be paid (and no 'Activity' section to refer to). Not very helpful if you haven't kept a record of what was owed prior to the full repayment of capital and partial repayment of interest.
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jonah
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Post by jonah on Jun 20, 2017 20:12:05 GMT
All references to #199 seem to have been removed from the website (please tell me if I've missed something) - even though further interest is still due? Furthermore, no email yet received from AC to inform lenders when the outstanding interest will be paid (and no 'Activity' section to refer to). Not very helpful if you haven't kept a record of what was owed prior to the full repayment of capital and partial repayment of interest. It's on the repaid page. Browse loans, repaid. It's lists the outstanding interest.
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rxdav
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Post by rxdav on Jun 21, 2017 9:20:09 GMT
All references to #199 seem to have been removed from the website (please tell me if I've missed something) - even though further interest is still due? Furthermore, no email yet received from AC to inform lenders when the outstanding interest will be paid (and no 'Activity' section to refer to). Not very helpful if you haven't kept a record of what was owed prior to the full repayment of capital and partial repayment of interest. It's on the repaid page. Browse loans, repaid. It's lists the outstanding interest. Got it - many thanks (you learn something new every day!)
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Post by yorkshireman on Jun 21, 2017 10:28:20 GMT
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?, the AC team is unable to provide an immediate answer and will need to seek information from other third parties. We aim to have an answer or, at the very least, a further update on progress within the next five working days
