eeyore
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Post by eeyore on Nov 1, 2022 13:56:57 GMT
New 36-month commercial term loan for Colindale M*** U*** has been announced.
Total loan: £2,086,500 LTV: 65% Tranche A: £1,605k @ 6.89% gross (No cap) Tranche B: £481.5k @ 8.01% gross (Cap: £5k)
The purpose of the loan is to refinance an existing loan. The security is a three-storey mid-terrace property in north-west London with seven ground-floor retail units and seven two-bedroom maisonettes on the upper floors. All the maisonettes are tenanted and all but one of the retail units are tenanted - there is currently one office-space unit vacant. The borrower acquired the property three years ago with the intention to hold it as a long-term investment. There is now planning permission to convert the seven maisonettes into nine flats - the borrower may sell the property for development or undertake the development and refinance the loan in due course.
See the full loan request and valuation report for details which are available on the website.
Allocation for Always-On lenders has already taken place (Tuesday 1-Nov). Tranches A and B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 3-Nov.
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ukinvestor
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Post by ukinvestor on Nov 1, 2022 21:19:58 GMT
Tranche B: £481.5k with a cap of £5k
This looks very generous.
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hubert
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Post by hubert on Nov 5, 2022 16:30:49 GMT
This is shown as still in funding.
Guess this is a sign of the times.
Is there anyway of knowing how much has funded to date.
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Post by uksoul on Nov 6, 2022 0:45:22 GMT
This is shown as still in funding. Guess this is a sign of the times. Is there anyway of knowing how much has funded to date. When loans were all self select, they had a running total counter so you could see how much had been funded. You can only know by asking. There is a delay on running Self Select on this loan, I was informed.
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Post by uksoul on Nov 7, 2022 20:11:27 GMT
Now fully funded.
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firedog
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Post by firedog on Nov 7, 2022 21:42:36 GMT
My first dabble in Proplend so I hope it all goes smoothly!
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Post by overthehill on Nov 7, 2022 22:19:49 GMT
My first dabble in Proplend so I hope it all goes smoothly!
I don't think you're alone but Proplend has easily been one of the best P2P investments for years. I wouldn't say you've missed the boat but it's been round the island a few times. I've easily made 7%+ for mainly tranche A < 50% loans, it must be close to 10% for tranche b+c loans. I only know about 1 small loss for tranche B loan and I've never seen a borrower stop interest payments past the due date although I haven't invested in every loan for some time.
Having said that I'm not investing in any loans at the moment as the interest rates are lagging the reality. This loan should be 7% net.
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bababill
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Post by bababill on Nov 7, 2022 23:44:37 GMT
Received 3k of B. Anyone receive 5k?
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eeyore
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Post by eeyore on Nov 8, 2022 8:55:38 GMT
Has this loan drawn down? If so, I can change the title of this thread.
The loan has disappeared from the Pending, In Funding and Waiting to Close lists, having been on the In Funding list until yesterday. Not having participated in this loan, it is now completely invisible to me.
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liso
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Post by liso on Nov 8, 2022 9:30:54 GMT
Has this loan drawn down? If so, I can change the title of this thread. The loan has disappeared from the Pending, In Funding and Waiting to Close lists, having been on the In Funding list until yesterday. Not having participated in this loan, it is now completely invisible to me. Listed under Waiting To Close
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Post by uksoul on Nov 8, 2022 9:41:53 GMT
Has this loan drawn down? If so, I can change the title of this thread. The loan has disappeared from the Pending, In Funding and Waiting to Close lists, having been on the In Funding list until yesterday. Not having participated in this loan, it is now completely invisible to me. Now visible on the waiting to close page.
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bababill
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Post by bababill on Dec 7, 2022 23:53:36 GMT
Tranche B: £481.5k with a cap of £5k This looks very generous. Did anyone receive 5k?
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