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Post by alexp2p on Dec 12, 2019 13:29:02 GMT
Any opinions about this loan? Negative point: the borrower has to pay off a second loan.
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Post by pmjenkins on Dec 12, 2019 13:34:56 GMT
Any opinions about this loan? The vacant possession value of £215k is significantly lower than the market value of £315k. The loan is for 36 months but the current lease ends in 24 months.
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sapphire
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Post by sapphire on Dec 12, 2019 13:43:01 GMT
Any opinions about this loan? The vacant possession value of £215k is significantly lower than the market value of £315k. The loan is for 36 months but the current lease ends in 24 months. The FLR states "20 year lease agreement with no break will be in place before the loan draws down. "
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eeyore
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Post by eeyore on Dec 13, 2019 6:27:21 GMT
Reading the loan proposal and particularly the valuation report, it's obvious that there are loose ends that need to be tied-up before the loan draws down.
However, this is not one for Auto-Lend - I'll be investing in Tranche-A manually. With the Birmingham loan still not filled as of this morning, I'm not prepared to risk this loan being fully subscribed by other lenders in Auto-Lend and then having my funds used by Auto-Lend to buy a slice of Birmingham. To put it bluntly, I'd rather miss-out on this loan than be forced into the Birmingham loan!
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hantsowl
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Post by hantsowl on Dec 13, 2019 9:48:26 GMT
Reading the loan proposal and particularly the valuation report, it's obvious that there are loose ends that need to be tied-up before the loan draws down. However, this is not one for Auto-Lend - I'll be investing in Tranche-A manually. With the Birmingham loan still not filled as of this morning, I'm not prepared to risk this loan being fully subscribed by other lenders in Auto-Lend and then having my funds used by Auto-Lend to buy a slice of Birmingham. To put it bluntly, I'd rather miss-out on this loan than be forced into the Birmingham loan! Notify proplend. Is there a way to make auto-lend specific to the new loan and avoid the Birmingham loan which investors may already have (or do not want to buy)?
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eeyore
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Post by eeyore on Dec 13, 2019 12:03:00 GMT
All gone within 90 seconds!
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hantsowl
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Post by hantsowl on Mar 3, 2022 10:08:32 GMT
This appears to have been repaid early.
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Post by uksoul on Mar 3, 2022 10:12:06 GMT
This appears to have been repaid early. It has, nice surprise!
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Post by overthehill on Mar 3, 2022 10:39:04 GMT
Jeesuus. So has ash* N* . Same borrower I think. I'm struggling to find places to invest and they keep paying back early!
+ extra 1% for early repayment.
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hantsowl
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Post by hantsowl on Mar 3, 2022 10:45:18 GMT
Jeesuus. So has ash* N* . Same borrower I think. I'm struggling to find places to invest and they keep paying back early!
You are correct....Same borrower.
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eeyore
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Post by eeyore on Mar 3, 2022 18:59:58 GMT
This appears to have been repaid early. And yet both emails sent to lenders (at 17:45) for the two loans say " .... has paid back in full and on time"! Ashton-under-Lyne was due to repay on 22-Aug-22 and Oldham on 16-Dec-22. Curiously, it's the Ashton loan which has paid the 1% "Early Redemption Interest". PS: I find it annoying that lenders are alerted to the repayments so late - well after it's possible to withdraw funds on the same day as the repayment. But still not as bad as CrowdProperty whose message always seems to go out the next day.
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