mikes1531
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Post by mikes1531 on Oct 29, 2014 11:10:44 GMT
Actually OG, the update was in an email last Friday - I think it just got uploaded to the AC site on Monday. So should have been yesterday and early this week as ilmoro said............. Oh...OK Rosie....Wish they would date their info more consistently  I suspect the datestamps are applied automatically. If AC would post the info promptly, then the problem would go away.
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Post by whitmanthecat on Oct 29, 2014 14:04:07 GMT
There was a partial update yesterday, but buried in the Loan update for #132 Ang****y and not in the H*****y update.
It was actually a non-update for #132, explaining that nothing was expected on that loan while the introducer focused on H*****y. However, it seemed the introducer was working on H*****y being redeemed today (Wednesday).
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kermie
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Post by kermie on Oct 29, 2014 15:57:13 GMT
Thanks, whitmanthecat. I'm looking at how much interest I will actually have accrued over the past 2+ months on H**** at 18% and wondering now if it's really worth the stress!  |
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niceguy37
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Post by niceguy37 on Oct 29, 2014 16:45:19 GMT
Thanks, whitmanthecat. I'm looking at how much interest I will actually have accrued over the past 2+ months on H**** at 18% and wondering now if it's really worth the stress! It's easy money if it pays out in a day or so.  But I was too chicken and put mine up for sale.
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ianj
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Post by ianj on Oct 29, 2014 17:29:35 GMT
Recent Activity update:
29th Oct 2014 at 16:30
We were advised yesterday by the borrower's solicitor that funds were in place to settle outstanding lender capital and accrued interest.
Since then we have heard nothing from him / the introducer around when these will be transferred across despite a number of chasers today. If we have heard nothing by tomorrow morning then a demand letter will be issued with a view to asking lenders to vote on enforcement of security on expiry of the period allowed to settle the loan in full under the demand letter.
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kermie
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Post by kermie on Oct 29, 2014 17:41:49 GMT
Recent Activity update: 29th Oct 2014 at 16:30 We were advised yesterday by the borrower's solicitor that funds were in place to settle outstanding lender capital and accrued interest. Since then we have heard nothing from him / the introducer around when these will be transferred across despite a number of chasers today. If we have heard nothing by tomorrow morning then a demand letter will be issued with a view to asking lenders to vote on enforcement of security on expiry of the period allowed to settle the loan in full under the demand letter. Thanks - was tempted to "like" your post (appreciate the heads up - but not so much the content!). Let's see what happens tomorrow morning - I think AC are taking things sensibly...gradually ratcheting up the pressure.
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ilmoro
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'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 Oct 29, 2014 18:00:20 GMT
Recent Activity update: 'Here is a purse of moneys... which I'm not going to give to you'
E Blackadder  |
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shimself
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Post by shimself on Oct 30, 2014 19:31:35 GMT
The loan reads
There has been a change in the credit position of this loan. Please read the Recent Activity message for a fuller update
What activity message where?
Just to triple check (seeing as some brave soul bought some of mine today), the accrued interest due stays mine doesn't it?
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kermie
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Post by kermie on Oct 30, 2014 19:35:46 GMT
The loan reads There has been a change in the credit position of this loan. Please read the Recent Activity message for a fuller updateWhat activity message where? Just to triple check (seeing as some brave soul bought some of mine today), the accrued interest due stays mine doesn't it? David indicated on the "Various Loan Updates" thread that there was indeed a new update - but as a few have highlighted to him, it's not there. Yep - interest accrued on sold bits of loans will be paid to you if/when the borrower eventually makes the relevant payment.
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bugs4me
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Post by bugs4me on Oct 30, 2014 20:52:02 GMT
The loan reads There has been a change in the credit position of this loan. Please read the Recent Activity message for a fuller updateWhat activity message where? Just to triple check (seeing as some brave soul bought some of mine today), the accrued interest due stays mine doesn't it? David indicated on the "Various Loan Updates" thread that there was indeed a new update - but as a few have highlighted to him, it's not there. Yep - interest accrued on sold bits of loans will be paid to you if/when the borrower eventually makes the relevant payment. I got out of my defaults apart from one which cannot be traded. The default interest due is showing on the 'my loans' page. Time will tell whether those defaults will be paid but I'm not expecting a sooner result, maybe a later. 
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 31, 2014 9:45:35 GMT
A couple of questions have been answered on the Q&A - sounding ever more ominous...........
Edit: I had posted the contents of the Qs and As, but wasn't sure they were appropriate here, so I've removed them again. Gist is, there was more information late last night and we'll be getting an update today.
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bugs4me
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Post by bugs4me on Oct 31, 2014 9:50:44 GMT
This is becoming more of a shaggy dog as each day passes - along with more than a couple of others in default.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Oct 31, 2014 11:20:04 GMT
Lenders are getting increasingly frustrated and concerned about this loan, and I would imagine AC must also be concerned, considering it's size.
The loan is secured against 4 individual properties with additional commercial retail units. I would imagine that refinancing multiple properties with a commercial mix is limited to specialist lenders.
Should Assetz Capital work with the borrower to sub-divide this loan into multiple parts so that the borrower can easily refinance individual properties ?
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kermie
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Post by kermie on Oct 31, 2014 15:32:38 GMT
Unsurprisingly, the amount available for sale on this loan has trebled from about £50k to over £160k this afternoon.
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oldgrumpy
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Post by oldgrumpy on Oct 31, 2014 15:47:17 GMT
What's the betting we have a story like "the borrower has had to return home (Mod edit) for family reasons and will be uavailable to complete repayment documentation for several weeks blah blah blah....." Or am I just too cynical? AC have long boasted about the tightness of their legal paperwork and asset security. Too many bridging loans are testing that now.  So does the solicitor have the cash or not? Is he/she witholding it until his/her fees are paid? OK just speculation, which AC's message later today may well explode. |
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But I was too chicken and put mine up for sale. 
