p2pfan
Member of DD Central
Full-Time Investor
Posts: 738
Likes: 821
|
Post by p2pfan on Aug 25, 2019 0:08:02 GMT
Yes, the R debenture is much stronger, and will be first in line over either of the two AR loans.
The borrower has paid their previous Ablrate loan like clockwork each month, which is reassuring.
This looks like a very good investment with property asset to back it up, but the major concern I have is that the valuation states that care homes have rarely sold in that part of the world and there is an oversupply of rooms. (According to various reports, there a dearth of private paying clients in the region, which are much more profitable than those paid for by cash-scrapped local authorities.)
So, if things were to go belly-up, I imagine it'd be very difficult to find a buyer for the purpose-built care home properties?
They might be most likely to sell to developers who wish to convert them into flats, but then the sale would be at a much-reduce price?
Thoughts?
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 23, 2019 17:06:08 GMT
I must have gone to sleep in my comfy chair and no-one woke me up for the end of Countdown. It finished days ago, but it stops on zero and doesn't go negative - so you don't notice. Well, who cares?
|
|
|
Post by Ace on Sept 23, 2019 17:47:42 GMT
I guess they're waiting for tomorrow's large repayment to hoover up the leftovers of this one and make large inroads into the other two.
Hope the Hoover doesn't disturb your snooze.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 24, 2019 8:32:00 GMT
They woke us up early today to get us washed, dressed, and breakfasted before some good telly at 10.30am. The top-up only needs another £5k and should be complete before the funds return from the workhouse renovation project. Yes, they will hope that those funds might go to the other two loans - but that's like giving to the deserving poor. Note that the Welsh one has finished its countdown. I think that in the Home we will be more interested in a sweepstake on who will be the next Prime Minister.
|
|
|
Post by oktaeder on Oct 13, 2019 7:11:22 GMT
What is goin' on with this loan?
|
|
|
Post by ladywhitenap on Oct 13, 2019 8:25:03 GMT
What is goin' on with this loan? The good news is that all the time it is not drawn down it is earning lenders 13% at minimal risk. The deal may have hit a stumbling block with the legal team or it maybe just the deal is taking time to sign off somewhere along the line. LW
|
|
|
Post by oktaeder on Oct 13, 2019 10:16:39 GMT
I guess Ablrate could write an update after all theses weeks. If the risk is lower, i don't think so. You can't get out of the loan anyway.
|
|
KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
|
Post by KoR_Wraith on Nov 30, 2019 10:56:57 GMT
The care home was reinspected in October and the report published last week.
The home is now meeting all CQC requirements and has been given an upgraded rating of "good". A quick google of CQC and the care home name will take you to the report.
|
|
|
Post by ladywhitenap on Nov 30, 2019 11:09:33 GMT
I've updated the thread title after hearing about the latest CQC report.
I was a bit harsh previously!
LW
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Nov 30, 2019 12:19:11 GMT
I should think so. For Xmas lunch we have been promised bread and real beef dripping! And the inmate who has been best behaved is to get the brown jelly bits. The Guardians have been very generous with the extra cash.
|
|
|
Post by ladywhitenap on Nov 30, 2019 12:43:52 GMT
I should think so. For Xmas lunch we have been promised bread and real beef dripping! And the inmate who has been best behaved is to get the brown jelly bits. The Guardians have been very generous with the extra cash. Yummy! When I first started work, well back in last century, the canteen did a roast dinner on Wednesdays and on the tea trolley the next morning were doorsteps of locally baked crusty bread with dripping and jelly on top. We were looked after well in those days! By the time I retired it had been rebranded as the "staff restaurant", no trolley service, vending machines and healthy options for lunch ugh! LW
|
|
KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
|
Post by KoR_Wraith on Feb 14, 2020 17:45:31 GMT
Admin note today indicating early repayment in the near future.
|
|
eeyore
Member of DD Central
Posts: 743
Likes: 733
|
Post by eeyore on Mar 30, 2020 10:41:00 GMT
Admin note today indicating early repayment in the near future. Update today for this and #107 to say the paperwork has been signed and the loans will be repaid on receipt of funds from the borrower.
|
|
qwakuk
Member of DD Central
Posts: 241
Likes: 89
|
Post by qwakuk on Apr 9, 2020 14:33:28 GMT
ablrateI believe you provided figures for interest up to 8th April, is the loan redemption / payout now going to be after Easter ?
|
|
|
Post by ablrate on Apr 9, 2020 14:48:08 GMT
ablrate I believe you provided figures for interest up to 8th April, is the loan redemption / payout now going to be after Easter ? We are awaiting funds if they are in today we will get the loan settled today
|
|