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Post by chris on Feb 14, 2014 14:02:36 GMT
We've been tied up with the Ha****y drawdown. I will get a response sorted as soon as I know more. I've spoken with the admin team and with LTL7 the borrower has bought a property so we need to assess the deal again, make sure it still meets our criteria, upload the new credit report, and adjust the details on the site. This will be completed ASAP and we'll be sure to give all lenders at least 48 hours to assess the loan before the auction starts, giving plenty of time for prebids to be cancelled should lenders no longer wish to participate. Hackney Auction 67 has now been paid out and this has been reflected on the site.
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mikes1531
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Post by mikes1531 on Feb 14, 2014 16:15:18 GMT
We've been tied up with the Ha****y drawdown. I will get a response sorted as soon as I know more. I've spoken with the admin team and with LTL7 the borrower has bought a property so we need to assess the deal again, make sure it still meets our criteria, upload the new credit report, and adjust the details on the site. This will be completed ASAP and we'll be sure to give all lenders at least 48 hours to assess the loan before the auction starts, giving plenty of time for prebids to be cancelled should lenders no longer wish to participate. Hackney Auction 67 has now been paid out and this has been reflected on the site. Thanks for the update. I look forward to seeing the revised credit report. I see that the start of the auction has been rescheduled for 1500 on Sunday, but note that it will need to be delayed again if lenders are to be give 48 hours to consider whether to retain or withdraw their pre-bids inasmuch as the new credit report isn't available yet and the auction start time is less than 48 hours from now.
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Post by chris on Feb 14, 2014 16:55:52 GMT
I see that the start of the auction has been rescheduled for 1500 on Sunday, but note that it will need to be delayed again if lenders are to be give 48 hours to consider whether to retain or withdraw their pre-bids inasmuch as the new credit report isn't available yet and the auction start time is less than 48 hours from now. Yes it will need to be nudged again.
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andy2001
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Post by andy2001 on Feb 14, 2014 19:52:53 GMT
Any plans to get underwriting on the 2 700k loans? Seems like it will be needed to fill them.
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agent69
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Post by agent69 on Feb 15, 2014 14:41:56 GMT
Is pre-bidding allowed on the Spondon loan?
Doesn't appear to work for me!
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oldgrumpy
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Post by oldgrumpy on Feb 15, 2014 14:44:16 GMT
Is pre-bidding allowed on the Spondon loan? Doesn't appear to work for me! Yep! I've got my ninepence in 
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Post by batchoy on Feb 15, 2014 15:01:49 GMT
Is pre-bidding allowed on the Spondon loan? Doesn't appear to work for me! Yep! I've got my ninepence in No pre-bidding for me either but I didn't expect there to be any as I thought the new policy was for there to be no pre-bidding until the full documents were available, then a minimum of 24hrs to the full auction.
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oldgrumpy
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Post by oldgrumpy on Feb 15, 2014 15:07:42 GMT
Yep! I've got my ninepence in No pre-bidding for me either but I didn't expect there to be any as I thought the new policy was for there to be no pre-bidding until the full documents were available, then a minimum of 24hrs to the full auction. Chris's bidding tweak must have developed a gremlin - Sponned!! It's showing 10% p-bids and my slice is till on my account page.
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Post by batchoy on Feb 15, 2014 15:20:54 GMT
No pre-bidding for me either but I didn't expect there to be any as I thought the new policy was for there to be no pre-bidding until the full documents were available, then a minimum of 24hrs to the full auction. Chris's bidding tweak must have developed a gremlin - Sponned!! It's ahowing 10& p-bids and my slice is till on my account page. Probably human error and someone forgot to untick a box when they listed the loan, then unticked once they saw pre-bids going on.
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duck
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Post by duck on Feb 15, 2014 15:24:08 GMT
I can't make a pre-bid on S***d** either... is this because I don't have the "gold/shadow/Sauron" account? No, if the system is working correctly then as has already been stated then we have to wait for the full credit report/paperwork. I have to declare no Sauron account here ..... but I do have the others and haven't been able to add a bid of any kind 
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oldgrumpy
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Post by oldgrumpy on Feb 15, 2014 15:26:07 GMT
Chris's bidding tweak must have developed a gremlin - Sponned!! It's showing 10% p-bids and my slice is till on my account page. Probably human error and someone forgot to untick a box when they listed the loan, then unticked once they saw pre-bids going on. Ticks can be such a pain! (Bit like my typos!!)
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agent69
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Post by agent69 on Feb 15, 2014 16:02:07 GMT
Pleased to see it's not just me.
I thought prebids were ok, just the auction didn't open until 48hrs after the full credit report was made available?
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mikes1531
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Post by mikes1531 on Feb 15, 2014 19:46:00 GMT
If you look at the Q&A for the loan, you'll find the answer... Pre-bids weren't supposed to be allowed until the full credit report was available, but someone failed to make the right setting -- those pesky tick boxes again! It was noticed once pre-bids started coming in, and further pre-bids have been stopped pending the publication of the full credit report. |
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mikes1531
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Post by mikes1531 on Feb 16, 2014 3:09:25 GMT
I see that the start of the auction has been rescheduled for 1500 on Sunday, but note that it will need to be delayed again if lenders are to be give 48 hours to consider whether to retain or withdraw their pre-bids inasmuch as the new credit report isn't available yet and the auction start time is less than 48 hours from now. Yes it will need to be nudged again. The revised credit report was released around lunchtime on Saturday. At about the same time, I received an email from AC outlining the changes and stating that the auction start time was Sunday afternoon -- which was no change from earlier -- so it doesn't look like we're going to have the 48 hours notice we were promised, unless the 'nudge' Chris referred to is going to happen at the last minute. I really do not understand why AC can't get their act together on what should be such a simple/routine matter.  Meanwhile, we still don't have any clarity about how AC are going to deal with the reduced amount of the loan request. With it having shrunk from £270k down to £95k, it's gone from a position whereby all pre-bids (approx. £125k) would have been accepted in full to one where the pre-bids now represent about 130% of the total to be raised. What I need to know is whether the pre-bids are going to be converted into real bids on a first-come first-served basis, or whether there's going to be some scaling back applied as was suggested earlier. In short, if I want my final participation in this loan to be less than the total of my existing pre-bids, I don't know whether I need to delete some of them (they're all within the first £95k of the queue) or whether I should do nothing because my pre-bids are going to be scaled back anyway. This is not an appropriate position for AC to have put us in.
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Post by bracknellboy on Feb 16, 2014 8:06:19 GMT
Yes it will need to be nudged again. In short, if I want my final participation in this loan to be less than the total of my existing pre-bids, I don't know whether I need to delete some of them (they're all within the first £95k of the queue) or whether I should do nothing because my pre-bids are going to be scaled back anyway. This is not an appropriate position for AC to have put us in. Well its not that fatal: in worst case your outlay will be no more than you originally bid and you can stick straight onto the aftermarket at no cost to yourself. Preferable of course to konw, but not a diasaster ?
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