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Post by Harland Kearney on Mar 31, 2020 18:50:46 GMT
The platform has £215m in loans in the access accounts - The management want £2m of their grubby hands on this cash a year....They can Jog on.... The fee is temp, you have made the same post again and again we understand. Its not great for any lenders, but it is most likely unavoidble. Cutting interest income is not guranteed. I'm prepared to cut 0.9% in return for capital protection at this time. But what I don't agree with us default or suspended loans being charged. Will be charged money on loans that have been in default since 2017 seems pretty low handed. They should rethink this, it will add a little respite for angered lenders here.
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Balder
Member of DD Central
Posts: 646 
Likes: 622
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Post by Balder on Mar 31, 2020 18:53:20 GMT
The platform has £215m in loans in the access accounts - The management want £2m of their grubby hands on this cash a year....They can Jog on.... The fee is temp, you have made the same post again and again we understand. Its not great for any lenders, but it is most likely unavoidble. Cutting interest income is not guranteed. I'm prepared to cut 0.9% in return for capital protection at this time. But what I don't agree with us default or suspended loans being charged. Will be charged money on loans that have been in default since 2017 seems pretty low handed. They should rethink this, it will add a little respite for angered lenders here. Why not just reduce the interest rates paid to lenders - same effect but reduces tax lenders pay to HMRC? Would also mean loans in default get on fee.
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Post by bikeman on Mar 31, 2020 18:53:47 GMT
I sincerely hope they're not going to charge me a fee for my money tied up in those shitty IL* loans
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Post by Harland Kearney on Mar 31, 2020 18:54:46 GMT
The fee is temp, you have made the same post again and again we understand. Its not great for any lenders, but it is most likely unavoidble. Cutting interest income is not guranteed. I'm prepared to cut 0.9% in return for capital protection at this time. But what I don't agree with us default or suspended loans being charged. Will be charged money on loans that have been in default since 2017 seems pretty low handed. They should rethink this, it will add a little respite for angered lenders here. Why not just reduce the interest rates paid to lenders - same effect but reduces tax lenders pay to HMRC? Because they are worried about borrowers not paying interest, hence the forebareance vote. Therefore, some of that security is coming from us. I'm not a fan dont' get me wrong; but what can I do 
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Post by scepticalinvestor on Mar 31, 2020 18:55:33 GMT
Does anyone know if "loans under management" include defaults? I sure hope not, that would be adding insult to injury.  |
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Balder
Member of DD Central
Posts: 646
Likes: 622
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Post by Balder on Mar 31, 2020 18:58:59 GMT
Why not just reduce the interest rates paid to lenders - same effect but reduces tax lenders pay to HMRC? Because they are worried about borrowers not paying interest, hence the forebareance vote. Therefore, some of that security is coming from us. I'm not a fan dont' get me wrong; but what can I do Well i for one will not be transferring any money into the platform to cover any fees that are not covered by interest. AC will have to take a share of the non paying loan capital!
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Post by jasonnewman on Mar 31, 2020 19:00:43 GMT
The platform has £215m in loans in the access accounts - The management want £2m of their grubby hands on this cash a year....They can Jog on.... The fee is temp, you have made the same post again and again we understand. Its not great for any lenders, but it is most likely unavoidble. Cutting interest income is not guranteed. I'm prepared to cut 0.9% in return for capital protection at this time. But what I don't agree with us default or suspended loans being charged. Will be charged money on loans that have been in default since 2017 seems pretty low handed. They should rethink this, it will add a little respite for angered lenders here. Good luck with your temporary thinking … You have repeatedly been bullish on what AC are doing .. Maybe you should keep investing here, I personally am getting out of this pile of poo.
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Post by danielbird193 on Mar 31, 2020 19:03:41 GMT
The platform has £215m in loans in the access accounts - The management want £2m of their grubby hands on this cash a year....They can Jog on.... That certainly puts it in perspective! I would have had more respect if he'd explained exactly what these "increased loan servicing costs" are. Elsewhere in the same section of the email he says that "We've already substantially reduced overheads". Come on Stuart, which is it? Can't have it both ways sunshine.
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Post by Harland Kearney on Mar 31, 2020 19:04:54 GMT
The fee is temp, you have made the same post again and again we understand. Its not great for any lenders, but it is most likely unavoidble. Cutting interest income is not guranteed. I'm prepared to cut 0.9% in return for capital protection at this time. But what I don't agree with us default or suspended loans being charged. Will be charged money on loans that have been in default since 2017 seems pretty low handed. They should rethink this, it will add a little respite for angered lenders here. Good luck with your temporary thinking … You have repeatedly been bullish on what AC are doing .. Maybe you should keep investing here, I personally am getting out of this pile of poo. I have not been bullish, I just havent' repeated the same thing 10 times like most posters do. My posts in most respects are generally balanced, and aren't losing my head. I'm not heavily invested in AC, and like the guidelines say from the FCA, you shouldn't be in this sector. This is why. Retail investors will dry up for new income until the markets return to normal standing, even then AC will be more reliant on non-retail investors that is for sure. They will need to be now that they have permantly damaged investor relations though this. Only thing I can care about is captial protection, at this point if you invested anymore than 25% of your assets, you would be clenching pretty hard right now. Maybe thats why some investors here posted things with actual substance, and others just scream FCA. What a circus this will be now. Does that sound bullish? No but it sounds better than posting the same thing 10 times over.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Mar 31, 2020 19:08:47 GMT
I think the only 2 relevant questions now are:
How long have they got?
What do we expect the recovery %age to be?
Lets hope the valuations are more realistic than some of those over at FS.
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Post by chris on Mar 31, 2020 19:10:39 GMT
chris stuartassetzcapital is the vote supposed to be a forced response? Doesn't seem to be possible to access the site without voting which seems like an error given a response isn't required until 6 April. People will want time to consider. No I don't think it's supposed to be a forced vote, I'll double check and get that changed if appropriate
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Post by jasonnewman on Mar 31, 2020 19:15:25 GMT
chris Assetz Capital is finished - Do you accept that?
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Post by scepticalinvestor on Mar 31, 2020 19:16:25 GMT
What a d*ck move. Wish I could magic myself a £2m uptick in revenue. The platform has £215m in loans in the access accounts - The management want £2m of their grubby hands on this cash a year....They can Jog on.... |
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Post by mpn on Mar 31, 2020 19:21:54 GMT
chris stuartassetzcapital is the vote supposed to be a forced response? Doesn't seem to be possible to access the site without voting which seems like an error given a response isn't required until 6 April. People will want time to consider. No I don't think it's supposed to be a forced vote, I'll double check and get that changed if appropriate My wife and I both had to pick an option to access out accounts and frankly didn't bother to read or consider this as we were both so annoyed at that point. Great way to go to get a considered view from your lenders!
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Mar 31, 2020 19:25:08 GMT
chris stuartassetzcapital is the vote supposed to be a forced response? Doesn't seem to be possible to access the site without voting which seems like an error given a response isn't required until 6 April. People will want time to consider. +1 I want to look at my holding as transactions before making the vote. It is crazy i cant get any further than the vote screen. I will vote, but want to defer that decision for the moment. Please let us into our accounts. Please reply ASAP.
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