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Post by Deleted on Jan 29, 2016 8:31:48 GMT
Give me some help please.
There was a loan that initially was going to close out in early summer 2015. This was finally taken down as a potential loan in early Jan 2016 (anyone remember the date?), hence taking all the history of questions and answers.
It is now back in the list in late Jan 2016 with the same name, how much have the details of the deal changed?
Oh, I see it has gone back to mid Feb. Anyone want to bet we see the whole year round before it finally gets off the ground?
I see from Chris's note that AC doesn't want much of the value to go to individual accounts.
Where in this picture can you spot what is wrong?
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SteveT
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Post by SteveT on Jan 29, 2016 9:00:37 GMT
All 3 loans that were slated to draw down today have now been moved backwards. 2 to next Friday, 1 to the following Friday ...... ?!
Wishing I hadn't bothered moving funds around now.
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sl75
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Post by sl75 on Jan 29, 2016 10:18:44 GMT
So much for the claim that AC would only be adding loans to the upcoming loans section when there was a definite drawdown date...!
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Jan 29, 2016 10:23:24 GMT
ilmoro : thanks for your effort. For those not tracking everything in detail (like myself) would it be possible to mark the changes whether they wend up or down (LTV, date, amount ect) with +/i or ⇧ ⇩
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bigfoot12
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Post by bigfoot12 on Jan 29, 2016 10:36:28 GMT
So much for the claim that AC would only be adding loans to the upcoming loans section when there was a definite drawdown date...! I can't find that claim. I see that a date will be given when funds are called, but all dates are estimates.
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sl75
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Post by sl75 on Jan 29, 2016 10:59:53 GMT
So much for the claim that AC would only be adding loans to the upcoming loans section when there was a definite drawdown date...! I can't find that claim. I see that a date will be given when funds are called, but all dates are estimates. Sorry, missed the tongue-in-cheek emoticon to indicate tone of voice. I'd have been more astonished if AC had actually figured out how to do reliable drawdown estimates given the past record 
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baz657
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Post by baz657 on Jan 29, 2016 11:16:23 GMT
All 3 loans that were slated to draw down today have now been moved backwards. 2 to next Friday, 1 to the following Friday ...... ?! Wishing I hadn't bothered moving funds around now. Same here, but I thought there was going to be an effort made to "have a quiet word" with solicitors and stop having to wait for Fridays every time, especially as one is only waiting on a signature due Monday.
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Post by chris on Jan 29, 2016 12:20:07 GMT
Just come off the management video conference and all I can do is apologise - not so much for the delays but because they have only come to light and been communicated at the eleventh hour. We have a lack of visibility on the final drawdown dates because they end up in the hands of two sets of third party lawyers acting for us and the borrower. There are a number of solutions being investigated or already part way through implementation that range from improving communication, hiring dedicated staff to chase deals through, to even looking at what functions can be brought in house or otherwise streamlined.
In the mean time the draw down dates and months shown are based on the best information available to us today and I have made sure that they are all up to date. This is a pipeline though so there will always be some level of variability and uncertainty.
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Post by westcountryfunder on Jan 29, 2016 13:06:46 GMT
All 3 loans that were slated to draw down today have now been moved backwards. 2 to next Friday, 1 to the following Friday ...... ?! Wishing I hadn't bothered moving funds around now. Same here, but I thought there was going to be an effort made to "have a quiet word" with solicitors and stop having to wait for Fridays every time, especially as one is only waiting on a signature due Monday. Yes, it's frustrating, but isn't this precisely why the QAA is so useful? Funds parked on your MLIA which are temporarily diverted to the QAA and earning 3.75%pa in the meantime. I don't think there's really too much to complain about; better to get all the documentation right, i's dotted and t's crossed, than for there to be regrets later.
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trouble
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Post by trouble on Jan 29, 2016 13:17:46 GMT
Same here, but I thought there was going to be an effort made to "have a quiet word" with solicitors and stop having to wait for Fridays every time, especially as one is only waiting on a signature due Monday. Yes, it's frustrating, but isn't this precisely why the QAA is so useful? Funds parked on your MLIA which are temporarily diverted to the QAA and earning 3.75%pa in the meantime. I don't think there's really too much to complain about; better to get all the documentation right, i's dotted and t's crossed, than for there to be regrets later. Totally agree, whatever AC do to try and please the vocal minority will never work, they will always find something to be vocal about, as it's what gets them through the day.
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baz657
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Post by baz657 on Jan 29, 2016 14:14:08 GMT
Agreed if the argument is based on new funds going in.
Mine wasn't. I'd sold some loan parts to help diversify more.
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trouble
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Post by trouble on Jan 29, 2016 15:12:41 GMT
Agreed if the argument is based on new funds going in. Mine wasn't. I'd sold some loan parts to help diversify more. Agreed if they were massive loans with massive chunks available to get on drawdown. I'd also put some new funds in and sold some parts as well ready for the 3 new loans, but the SM is still picking up bits for me and the rest has gone in the QAA awaiting these new loans. In reality we're going to pick up very little from the Wind Turbine as the GEIA will get the majority, so maybe £1500 (and that might be on the high side) between the other 2 once the QAA & GBBA have taken a bite, leaves me 25p per day out of pocket working on getting 3.75% instead of 9 to 10% - I'll survive.
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happy
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Post by happy on Jan 29, 2016 15:23:42 GMT
And I would have ACs approach and attitude any day rather than FCs where you can have money locked up for anything up to 3 weeks only for the customer to "not accept the loan offer" so FC kindly give you your money back devoid of any interest.
There are no perfect worlds but we all have the choice to pick our favourite few not quite perfect ones, I have and I'm happy enough!
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baz657
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Post by baz657 on Jan 29, 2016 15:42:18 GMT
As, according to a couple of new members, I'm in a vocal minority I'll shut up. Shame it's become awkward to have an opinion here.
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Post by Deleted on Jan 29, 2016 15:58:06 GMT
If the movement had been a couple of weeks or we could see a level of competence or if the staff kept moving the draw down date well ahead of the actual I would agree there is nothing to get concerned about. AC have a track record which they are trying to improve, it ain't easy and we support them to get better, but just "letting them off" because you lent to their TLA fund that gives you a bit of what you want is just not in the spirit of getting them on track. CImprovement has to be our watchword for AC. |
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