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Post by df on Mar 28, 2023 9:44:30 GMT
6 month loan
4% LTV
7.8% interest
Vey unusual, both the asset type and LTV. I wasn't auto-invested in this.
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Post by Ace on Mar 28, 2023 9:57:41 GMT
6 month loan 4% LTV 7.8% interest Vey unusual, both the asset type and LTV. I wasn't auto-invested in this. I thought the same. And UB are taking a much smaller cut than usual. I grabbed a small part out of curiosity.
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Post by df on Mar 28, 2023 10:10:36 GMT
6 month loan 4% LTV 7.8% interest Vey unusual, both the asset type and LTV. I wasn't auto-invested in this. I thought the same. And UB are taking a much smaller cut than usual. I grabbed a small part out of curiosity. The same here, very small part out of curiosity 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877 
Likes: 11,102
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Post by ilmoro on Mar 28, 2023 11:00:03 GMT
No charge being registered against the security on the land registry which means any future lender doing a search on title wont get a flag ... thats a potential issue if enforcement is required because priority will be problematic. AIUI Charges at land registry take priority over non-registered charges so if they double borrow if the other lender registers they have priority
Note its a renewal
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Post by overthehill on Mar 28, 2023 12:41:31 GMT
No charge being registered against the security on the land registry which means any future lender doing a search on title wont get a flag ... thats a potential issue if enforcement is required because priority will be problematic. AIUI Charges at land registry take priority over non-registered charges so if they double borrow if the other lender registers they have priority Note its a renewal
At least, they don't seem to be filling the loan using autolend. It is not a renewal though according to UB.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877
Likes: 11,102
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Post by ilmoro on Mar 28, 2023 13:43:25 GMT
No charge being registered against the security on the land registry which means any future lender doing a search on title wont get a flag ... thats a potential issue if enforcement is required because priority will be problematic. AIUI Charges at land registry take priority over non-registered charges so if they double borrow if the other lender registers they have priority Note its a renewal
At least, they don't seem to be filling the loan using autolend. It is not a renewal though according to UB.
Youre right, I got confused by the active loans to the same borrower being an identical write up, didnt look at dates so assumed this was renewal of the existing active loan not the active loan itself
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Post by redpete on Mar 28, 2023 19:08:19 GMT
I spotted that one as well. As I put money into UB as diversification from property loans, I've not taken them up on this one.
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Post by df on Mar 28, 2023 21:37:52 GMT
No charge being registered against the security on the land registry which means any future lender doing a search on title wont get a flag ... thats a potential issue if enforcement is required because priority will be problematic. AIUI Charges at land registry take priority over non-registered charges so if they double borrow if the other lender registers they have priority Note its a renewal
At least, they don't seem to be filling the loan using autolend. It is not a renewal though according to UB.
I'd be very annoyed if they did.
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