ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
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Post by ilmoro on Mar 18, 2016 15:13:27 GMT
Yes fantastic result, andrewholgate & team, which seemed unlikely for most of the loans lifetime Here's out resident sceptic with a basket of garden centre produce to celebrate  |
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Post by mrclondon on Mar 18, 2016 19:25:05 GMT
I'm very much in agreement with chielamangus on this one. I've taken advantage of the new website to sell most of my last £20 loan part leaving me with just £5 (down from several £k at the start of the loan). Without knowing the valuation basis of the security, its hard for me to say how much of that £5 I expect to lose, but I'm reasonably certain I'm going to lose some of it.
I'll hold my hands up, and say I called this one wrong as I genuinely couldn't see how this could be recovered for full value given the planning decisions that were taken. Full admiration for those that had the stomach to continue buying parts in this loan right up to the time it was suspended from trading. Another recovery success story for AC for one of the troublesome batch of bridging loans.
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duck
Member of DD Central
Posts: 2,879
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Post by duck on Mar 19, 2016 6:33:52 GMT
Can I add my congratulations to the AC team. Whilst I sold down when I could (token £40 left in the loan) I have just taken great pleasure in removing my red highlight from my spreadsheet  Wasn't expecting this! |
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Post by Butch Cassidy on Mar 19, 2016 9:53:48 GMT
Whilst I am more than happy with the final result  it does highlight why this loan (& I expect plenty of others that are currently suspended) should have been available to trade; Loans that are secured against a solid asset are by definition likely to be recovered, assuming that the loan agreement is correctly drafted & the valuation is reasonable, however AC insist on leaving investors in limbo for months on the weak premise of treating customers fairly (which in reality just favours non holders over existing holders) I agree there can be uncertainty however all aspects of life & P2P involves uncertainty - AC have a trading system that allows this uncertainty to be priced in so why deny investors the chance to use it?
andrewholgate I would be interested to here any justification for why loans such as this should not be traded, whether or not LPA had been called in? You are rightly proud of AC's successful recovery record but it completely undermines this suspension policy!
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agent69
Member of DD Central
Posts: 6,048
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Post by agent69 on Mar 19, 2016 11:01:12 GMT
From a bystanders point of view it's reassuring to see another troublesome one get ticked off the list. Defaults are inevitable and I think many people are too optimistic regarding what might get recovered. From my perspective: - No loss of capital - good
- Return of capital with standard interest - excellent
- Return of capital with default interest - where's that Caribbean holiday brochure gone
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Post by andrewholgate on Mar 21, 2016 10:19:03 GMT
Thank you. We won't always get full recovery, but I would challenge anyone to get a better result than we did on Flaky Fixtures and this one. We keep working hard to get the right result.
@butchcassidy - I am working on this currently. I am putting something on the pink pages soon.
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max
Posts: 75
Likes: 47
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Post by max on Mar 21, 2016 15:17:21 GMT
Excellent work. I believe recovery given default is where AC shows the strongest performance as compared to other platforms. After all, you only find out who is swimming naked when the tide goes out - he once said  |
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it does highlight why this loan (& I expect plenty of others that are currently suspended) should have been available to trade; Loans that are secured against a solid asset are by definition likely to be recovered, assuming that the loan agreement is correctly drafted & the valuation is reasonable, however AC insist on leaving investors in limbo for months on the weak premise of treating customers fairly (which in reality just favours non holders over existing holders) I agree there can be uncertainty however all aspects of life & P2P involves uncertainty - AC have a trading system that allows this uncertainty to be priced in so why deny investors the chance to use it?
