H****ey Br*****g L**n

Perhaps I should have said "If you really believe in flying pigs..."

There is £8.3k of loan units for sale at the moment for optimistic investors.  If the demand letter goes out on Monday and the process of appointing a receiver is started, then the end date of this loan could be anything between a couple of days and six months or so from now. 

Has anyone tried to estimate what sort of sales price would be required six months from now in order to pay all the costs and accrued default interest that would have built up by then, and how that compares to the £3.1M property valuation?

Hopefully it won't come to that, because the borrower appears to have an awful lot of equity in the property, and much of that would be lost in the process of a foreclosure sale.  So they have a huge incentive to push the refinancing through.

I strongly disagree, if the introducer/borrower has a decent story with evidence then go along.  I doubt that they are delaying us for fun, and legal action will make it much harder to refinance won't it?

I am sure AC are as strong as they can be in their demands for settlement. However do bear in mind that the FCA insist that both lenders and borrowers are treated fairly. Therefore in these cases a balance has to be struck between the demands of lenders and the ability of borrowers to meet those demands. Pushing up the interest rate strikes me as a very good tool to focus the borrowers minds and to placate the lenders when loans go over due. Clearly AC have other means to put pressure on but I am sure they don't want to tell the World about them.

Clearly when the pushing and shoving eventually fails, AC has to act litigiously to get the lenders money back but that must be the last resort as litigation is both expensive in time and costs. In my opinion AC did well in getting a solution to the FF problem although that ball is still well in play. In this case there is still the bricks and mortar to fall back on.

I think their are cases where the Borrower wants the Introducer to act for them and be their spokesperson and advisor, someone who knows how 'Banks' work and can use their understanding for their best gain, to stop them being abused by those same clever 'Banks'. The Introducers know these tricks of the trade as they may've worked for 'Banks' in the past in better times.

And all of a sudden 53k of this has now disappeared from the AM

Makes one wonder why all these wonderfully clever solicitors and accountants and lawyers don't include all these stipulations and requirements in contracts to start with rather than "finding" them or "requiring " them, one at a time, at intervals, at the last moment, all contributing to delay and inefficiency (but still expecting substantial fees for their "services").

Why don't they do their jobs properly and efficiently to start with? (Not that I mind that much if we are being paid good interest during a delay).

I think we all have several answers to that question, but don't want to get banned from the forum.

Why does this happen, I can never understand it? People snap it up to pick up the one day's interest in case it repays tomorrow (if it repays today they get zero). If it doesn't repay by tomorrow we are back in the same old situation (if not worse) where you run the risk of loss of income and capital. All the risk for next to no rewards - baffling.