rs
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Post by rs on Feb 24, 2018 10:15:31 GMT
Loan of £1.57m for 9 months @ 12%pa. Valuation of £4.795m. LTV 33%. Interest reserve of 12 months and personal guarantee. With Proplend fees this works out to be 10.8% pa. Seems like a good loan but needs to be closed on 28th March as borrower needs money urgently! Anyone any thoughts on this.
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elliotn
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Post by elliotn on Feb 24, 2018 10:19:12 GMT
28 March gives us loads of time.
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rs
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Post by rs on Feb 24, 2018 10:30:28 GMT
I’ll be putting a small amount from IFISA and normal cash into this. Hopefully I can transfer my normal cash investment into ifisa in April.
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sapphire
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Post by sapphire on Feb 24, 2018 10:31:15 GMT
"We are required to close this loan by Wednesday 28th March" mentioned in Proplend's email yesterday appears to be a typo. I think it should read "28th Feb".
The listing states "Due to the very short window since the case was first presented to us, to the hard stop completion date (28/2/18), we have not had the opportunity to visit the site."
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rs
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Post by rs on Feb 24, 2018 11:04:26 GMT
Let’s hope the valuation report doesn’t have any nasties.
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ant1
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Post by ant1 on Feb 24, 2018 11:25:39 GMT
Given the urgency to fill this loan it would have been helpful to have made the valuation report available to download for investors to read through this weekend. Heres hoping it appears at some point....
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Post by proplend on Feb 26, 2018 9:37:46 GMT
Apologies - yes that should have read 28 Feb for the required closing date. The valuation is up there now - please take a look before the email goes In Funding at 10am
Thanks Richard
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elliotn
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Post by elliotn on Feb 26, 2018 9:37:52 GMT
Given the urgency to fill this loan it would have been helpful to have made the valuation report available to download for investors to read through this weekend. Heres hoping it appears at some point.... Yep, & an effort to process weekend deposits nice n early.
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rs
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Post by rs on Feb 26, 2018 9:59:39 GMT
Apologies - yes that should have read 28 Feb for the required closing date. The valuation is up there now - please take a look before the email goes In Funding at 10am Thanks Richard I couldn't find the Sunderland loan in the funding page for some reason so could not check the valuation!
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ant1
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Post by ant1 on Feb 26, 2018 10:10:24 GMT
I had the same problem. Proplend loans that are about to commence disappear off the system prior to the start time for the loan. Not the most helpful situation when you have not had chance to read through the valuation report. At 10am the loan was visible and i was able to see the valuation report.
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ant1
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Post by ant1 on Feb 26, 2018 10:12:52 GMT
And it doesn't look like Proplend will have a problem completing this loan by the 28th Feb given the rate of investments so far........... Can we have some more 12% in the future please....
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Post by proplend on Feb 26, 2018 10:14:52 GMT
Apologies - yes that should have read 28 Feb for the required closing date. The valuation is up there now - please take a look before the email goes In Funding at 10am Thanks Richard I couldn't find the Sunderland loan in the funding page for some reason so could not check the valuation! Have you managed to view it now RS? Default is the PLE tab so you'll need to switch to the In Funding tab. If not then perhaps close the browser and log back in - there shouldn't be any issues. Give us a call if you need any help. Thanks, Richard
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rs
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Post by rs on Feb 26, 2018 10:15:41 GMT
Read the valuation and seems like no nasties in valuation! Invested a little of my isa funds. I hope this loan runs for the full 9 months!
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elliotn
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Post by elliotn on Mar 1, 2018 6:16:50 GMT
proplend , just fyi that this is showing as 1970 for end date.
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rs
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Post by rs on Sept 18, 2018 14:47:17 GMT
An update released by proplend as loan 3 months away from end of term. Positive update but hopefully it all ends well in 3-6 months time.
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