tjtl
Posts: 232
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Post by tjtl on Feb 11, 2021 11:48:05 GMT
Mean time (not attacking you comments) all/any new loans simply fly out the door .... even the latest BH one! I agree. I think that have learned some decent lessons on structuring their loans, and the quality of recent loans looks much better. What they haven't done is be upfront and responsive on the "legacy" loans where delays on due repayment dates are utterly the norm , and where interest write-offs look more and more likely, and as we are seeing capital losses are now coming. If they got their act together on the old loans I would be tempted to invest in the new, but until then (perhaps through cussidness) I will be focussed on getting my cash out rather than recycling.
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mrsb
Posts: 196
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Post by mrsb on Sept 7, 2021 11:04:40 GMT
Partial repay today, I assume for one of the £110K flats.
That leaves £557,500 left to sell/complete, some of which appear to have sales in hand.
Doing my sums on what the £110K has done to my numbers, it seems that the final capital loss to lenders (assuming all sales complete at the asking prices) will be 29.5% of original investment(s), less (if you want to see it that way) whatever interest has been received - which of course will be different for parts bought on the RMP.
Dunno how gloomy to be about this, my losses would buy me a (another :-) very nice motorcycle.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Sept 10, 2021 9:45:00 GMT
I did a similar sum to predict losses, though what is unclear is how much of the money paid back to relendex for finishing the works, and how much of the professional fees owing, are being taken from the first payments (are they front-weighting the payments to an extent, or are they spreading them evenly across all the receipts- if the former then we may get nearer the 20% write off that the chairman indicated in February, if the latter than a loss of 30% looks right). Like you, this has been a right bu@@er for me- expected loss in the range of £7k to £10k.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Sept 28, 2021 7:22:02 GMT
Given the latest sale only paid back 8% of the outstanding balance it does look as though the losses will be at least 30% rather than the 20% they guided us to.
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Post by gramsky on Sept 9, 2023 8:52:20 GMT
Looks like 31% is final loss figure.
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