iren
Member of DD Central
Posts: 302 
Likes: 300
|
Post by iren on Feb 20, 2019 18:19:14 GMT
Email just received from Ablrate re this loan, where the underlying borrower is connected with the defunct BN group, but the intermediary has acted as the immediate borrower. The loan was due to repay this month but is to be extended by 36 months, fully amortising over the period, with earlier repayment if the borrower completes the recovery process.
Can Ablrate clarify whether the first payment of capital is expected this month or in March, and when the schedule of payments on the website will be updated to reflect the new arrangements.
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Feb 20, 2019 18:21:11 GMT
Very pleased with this outcome.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Feb 20, 2019 19:48:37 GMT
It's an extension of 36 months on an amortising basis, which suggests that the 27 Feb payment will be interest only and the principal with go forward for the 36 month amortisation. An extension was expected after 60 was extended, but that was for 8 months with a conditional bonus. Istm that the difference is that 60 does not have good physical security, while 59 is well covered by a residential property over which Ablrate have a charge. There might just be a slight problem with shorter term cash within the borrower and associated companies, and this one can be safely spun out. Glad I am in 59 rather than 60 (deliberately). I suppose that trading cannot happen until the Feb payment has been made and the new loan cash flows have been created. Happy with continuing this one at 10% amortising - as long as Ablrate keeps that charge.
|
|
iren
Member of DD Central
Posts: 302
Likes: 300
|
Post by iren on Feb 21, 2019 14:08:00 GMT
Yes, the new payment schedule is now displayed, with this month showing a final interest only payment, and a new capital + interest amount showing from March.
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Oct 19, 2019 19:02:32 GMT
On holiday in Jersey with the fam.
Drove past this block of flats today and confirm that it exists and looks like the photo on ABL with no concerning features from a quick glance.
Seems to be a fair bit of building and renovation going on all over the island in general.
I love it here, if this one ever gets auctioned off I’ll be tempted, but seems extremely unlikely.
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on May 5, 2020 14:55:50 GMT
Has interest been paid for April ablrate?
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Feb 27, 2021 8:57:07 GMT
Very late manoeuvring last night to avoid having two outstanding payments.
|
|
woodie
Member of DD Central
Posts: 120
Likes: 78
|
Post by woodie on Dec 28, 2021 12:11:30 GMT
Hi
Does anybody know why 59 has been paused on the ASMX?
Thanks
|
|
|
|
Post by Badly Drawn Stickman on Dec 28, 2021 12:30:44 GMT
Hi Does anybody know why 59 has been paused on the ASMX? Thanks Not paid due to the current holiday at a guess. Would automatically become temporarily untradeable.
|
|
