Post by baz657 on Mar 22, 2015 22:09:10 GMT
I've asked this on the Q&A for loan #136 - E**** Bridging Loan.
"Is it possible to ask lenders to vote in advance? Something along the lines of "in the event of the loan not being repaid on the due date, Option A, Option B, etc". Waiting until it is too late gives the borrower the impression he/she has at least another month before Assetz carry out the lenders wishes."
There is a month before this one is due and it seemed to me to be a good idea as reading the Q&A's AC just seem willing to wait until it's too late before gearing themselves into action.
It also appears from the Q&A that Assetz have even suggested to the borrower and his/her broker that it's ok to just carry on past the due date. Hopefully that is not the case and yet again the A's in the Q&A's have been badly written.
It's worrying when the answers themselves raise more questions than were originally asked.
"Is it possible to ask lenders to vote in advance? Something along the lines of "in the event of the loan not being repaid on the due date, Option A, Option B, etc". Waiting until it is too late gives the borrower the impression he/she has at least another month before Assetz carry out the lenders wishes."
There is a month before this one is due and it seemed to me to be a good idea as reading the Q&A's AC just seem willing to wait until it's too late before gearing themselves into action.
It also appears from the Q&A that Assetz have even suggested to the borrower and his/her broker that it's ok to just carry on past the due date. Hopefully that is not the case and yet again the A's in the Q&A's have been badly written.
It's worrying when the answers themselves raise more questions than were originally asked.