j
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Penguins are very misunderstood!
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Post by j on Feb 4, 2014 10:26:46 GMT
A lot of those pre-bids will be from people who simply are trying to preserve the opportunity to participate in the loan if it ever comes to pass. Many of them probably will decide they're not interested when the details become available, or won't have funds available at the time, or will decide they don't really want as large a share as they pre-bid. So I'd expect a lot of those pre-bids to fail to turn into live bids when the time comes. So someone putting a pre-bid in now might have no problem being included. One thing we've asked for but don't have yet, is an indication of where in the queue our pre-bids actually are. Someone who puts in a bid today would start in the 142% position, but won't have a clue what happens after that. Over the following week, 50% of the bids in front of them in the queue could be cancelled, while more bids are made that go into the queue behind them. After that activity there might still be 142% of pre-bids but the lender could have moved forward in the queue far enough to be in the first 100%. At the moment there's no way to know if that's happened. I'm scratching my head over this one and trying to work out why it is so popular, given that on my reading of the abridged credit report it made sense when it was first listed but with sum 10x the value of the loan due to be paid to the borrowers this month I personally cannot see the loan actually going ahead, just reinforcing my view that they have been stringing us along. exactly my thoughts!
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2014 10:44:32 GMT
We have just received an update on this one, so I have withdrawn my original post, which lumps this loan together with others, and will repost my sentiments elsewhere in due course.
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pikestaff
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Post by pikestaff on Feb 4, 2014 11:08:22 GMT
Trying windows character map: cliché. Edits: (1) That worked. On my Win7 PC the character map is in Accessories > System Tools. (2) Was in response to Old Grumpy's post, which he has now deleted.  |
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2014 11:18:48 GMT
Thanks for the method pikestaff.
(For others I wanted to do an e acute)
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Post by chris on Feb 4, 2014 11:45:50 GMT
This one is very coming soon.
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j
Member of DD Central
Penguins are very misunderstood!
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Likes: 540
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Post by j on Feb 4, 2014 14:31:22 GMT
Do AC intend to keep this loan in pre-bid status for whatever length of time it takes for the second borrower to get their house in order, assuming they eventually manage to do so, as indicated in email. Would this be done to preserve the queue advantage, especially for the very first bidders from last year. Or are we looking at cancelling the whole auction & starting afresh as & when appropriate?
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oldgrumpy
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Post by oldgrumpy on Feb 4, 2014 14:37:19 GMT
Chris - Will ALL auctions which are re-activated with pre-bids already in place have the date announced at least 24 hours in advance so that pre-bidders who have reallocated their funds elsewhere can top up again to cover those pre-bids (if required)?
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Post by chris on Feb 4, 2014 15:55:04 GMT
Chris - Will ALL auctions which are re-activated with pre-bids already in place have the date announced at least 24 hours in advance so that pre-bidders who have reallocated their funds elsewhere can top up again to cover those pre-bids (if required)? That is our policy but down to the site admin team to enact.
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Post by chris on Feb 4, 2014 16:00:52 GMT
Do AC intend to keep this loan in pre-bid status for whatever length of time it takes for the second borrower to get their house in order, assuming they eventually manage to do so, as indicated in email. Would this be done to preserve the queue advantage, especially for the very first bidders from last year. Or are we looking at cancelling the whole auction & starting afresh as & when appropriate? My understanding is that we'll be keeping the loan in pre-bid status preserving the queue advantage until the auction is ready to go - however that may change down the road.
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spockie
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Post by spockie on Mar 11, 2014 22:41:51 GMT
Do we have any idea of when this one is going to relaunch?
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j
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Penguins are very misunderstood!
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Post by j on Mar 11, 2014 23:24:16 GMT
Do we have any idea of when this one is going to relaunch? I wonder if the borrower still has a need for the funds to make this a viable loan again? Would AC care to provide an update?
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mikes1531
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Post by mikes1531 on Mar 12, 2014 23:52:22 GMT
Do we have any idea of when this one is going to relaunch? I wonder if the borrower still has a need for the funds to make this a viable loan again? Would AC care to provide an update? I wasn't sure this was the best place to ask AC this question, so I've added a question to the loan's Q&A asking for a status update.
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spockie
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Post by spockie on Mar 30, 2014 10:19:10 GMT
The loan seems to have disappeared...
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j
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Penguins are very misunderstood!
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Post by j on Mar 30, 2014 17:51:55 GMT
The loan seems to have disappeared... It was a non-starter after a couple of months' delay. Shame, seemed like a nice loan & could have helped a couple who needed to release capital along the way too. Win some, lose some
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mikes1531
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Post by mikes1531 on Mar 30, 2014 19:48:31 GMT
The loan seems to have disappeared... That's a rather drastic action to take just to avoid answering the question you asked!  It was a non-starter after a couple of months' delay. Shame, seemed like a nice loan & could have helped a couple who needed to release capital along the way too. My guess would be that the sale of the property completed and the need for the bridging loan went away. But that's just a guess. It happens. And we can be grateful that AC put this loan back to the pre-bid stage a while ago, so that lenders' funds haven't been tied up earning nothing for all this time. This was the loan that was completely funded less than a minute after the bidding opened. I'd call it one of AC's 'learner' loans -- they've learned a lot since then!
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