spiral
Member of DD Central
Posts: 909 
Likes: 456
|
Post by spiral on Apr 1, 2016 6:07:33 GMT
Evening, I can confirm that the last purchase of BPF347 was not undertaken by anyone associated with Broadoak, MT or anyone else with knowledge of the early repayment of this loan. Regards, Ed Thanks Nice little earner for someone there. Good luck to them. Do you have in place a procedure surrounding who can trade and when? There was a perceived issue at Thincats a couple of months ago for which I can't remember the details but I think it resulted in the sponsor coming up with an investment procedure for their staff. Obviously in this case, it wouldn't have resulted in a loss for any investor (just a lack of gain) but if a loan was becoming problematic, at the first signs of this, we wouldn't want people "in the know" dumping their loans on the SM for some unsuspecting soul to buy up.
|
|
|
|
Post by MoneyThing on Apr 1, 2016 7:33:21 GMT
Evening, I can confirm that the last purchase of BPF347 was not undertaken by anyone associated with Broadoak, MT or anyone else with knowledge of the early repayment of this loan. Regards, Ed Thanks Nice little earner for someone there. Good luck to them. Do you have in place a procedure surrounding who can trade and when? There was a perceived issue at Thincats a couple of months ago for which I can't remember the details but I think it resulted in the sponsor coming up with an investment procedure for their staff. Obviously in this case, it wouldn't have resulted in a loss for any investor (just a lack of gain) but if a loan was becoming problematic, at the first signs of this, we wouldn't want people "in the know" dumping their loans on the SM for some unsuspecting soul to buy up. Acknowledged. Upon being made aware (or discovering), that there might be a an event which would effect a loan (default/distress/early repayment/etc.), we would always immediately suspend the SM at the outset and communicate the details of the event, our/borrower course of action and provide regular updates. Regards, Ed.
|
|
|
|
Post by bengilbert on Apr 1, 2016 10:48:03 GMT
On Cheshire, lenders should now have been credited their principal and 2 full months of interest payments, making a total of 3 monthly payments (including the payment made in March).
Since the loan ran for less than a month and a half, that makes an annualized return to lenders of over 20%.
|
|
investibod
Member of DD Central
Posts: 288
Likes: 152
|
Post by investibod on Apr 1, 2016 10:50:15 GMT
Or someone spoiling their views by building a giant offshore windfarm - think we dodged that one - as thats what they are paying for. Though a still risk of some oil exploration, fortunately not in the near future. Yup, the Navitus Bay wind farm was vetoed by the Government last year and it won't be back; ludicrous place to think of putting one (for about a dozen reasons). Sandbanks is already right next to the largest on-shore oil field in western Europe (Wytch Farm, see en.wikipedia.org/wiki/Wytch_Farm) but most people don't have a clue it's there, so well is it hidden. So well hidden that even your Wiki link does not work.  Try this one
|
|
|
|
Post by pepperpot on Apr 1, 2016 11:39:10 GMT
On Cheshire, lenders should now have been credited their principal and 2 full months of interest payments, making a total of 3 monthly payments (including the payment made in March). Since the loan ran for less than a month and a half, that makes an annualized return to lenders of over 20%. More like that please. 
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Apr 1, 2016 12:11:13 GMT
Some people were saying the house in Leatherhead was expensive. Nothing compared to some of the properties in Sandbanks. TBH, it is difficult to see the downside on this particular loan. Surprised a mainstream lender was not interested. Biggest risk to Sandbanks is global warming and resulting sea-level rise; it really is just a sand bank! (I live just a couple of miles away). However I reckon we're Ok for at least 6 months What I'm mildly surprised about is that there's a market for two bedroom apartments in the area - I would have thought that people who are capable and willing to pay such a large location premium would also want bigger and more private properties.
|
|
registerme
Member of DD Central
Posts: 6,212
Likes: 6,021
|
Post by registerme on Apr 1, 2016 12:25:51 GMT
"Holiday homes"?
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Apr 1, 2016 12:35:18 GMT
It doesn't affect me this time, but for future reference: how do you allocate the additional interest? If someone purchased a loan part at launch, then sold on the secondary market yesterday, do they get any of the extra interest, or does it all go to the person who holds the loan part at the repayment date? Surely it can only go to the current holder of the loan. In the reverse scenario, where there is an unexpected shortfall rather than bonus, a past holder would not expect to bear any share of the downside. My guess is that last month's interest payment was double the normal amount (to bring it up to 3 months) so anyone who sold during March (like I did to invest in Bolton) would have received twice the expected amount on a proportional basis.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 1, 2016 12:44:26 GMT
Biggest risk to Sandbanks is global warming and resulting sea-level rise; it really is just a sand bank! (I live just a couple of miles away). However I reckon we're Ok for at least 6 months What I'm mildly surprised about is that there's a market for two bedroom apartments in the area - I would have thought that people who are capable and willing to pay such a large location premium would also want bigger and more private properties. If you've only got a paltry couple of million, a 2 bed apartment is all you can afford!
|
|
davex
Member of DD Central
Posts: 81
Likes: 18
|
Post by davex on Apr 1, 2016 14:35:42 GMT
Surely it can only go to the current holder of the loan. In the reverse scenario, where there is an unexpected shortfall rather than bonus, a past holder would not expect to bear any share of the downside. My guess is that last month's interest payment was double the normal amount (to bring it up to 3 months) so anyone who sold during March (like I did to invest in Bolton) would have received twice the expected amount on a proportional basis. Totally agree with Stevet on this.
|
|
toast
Member of DD Central
Posts: 158
Likes: 90
|
Post by toast on Apr 1, 2016 15:16:05 GMT
If I look at BPF373 under "My Loans", then I see the "sell" button is present. Is that supposed to be disabled until loan is fully filled?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 1, 2016 15:16:37 GMT
Biggest risk to Sandbanks is global warming and resulting sea-level rise; it really is just a sand bank! (I live just a couple of miles away). However I reckon we're Ok for at least 6 months Or someone spoiling their views by building a giant offshore windfarm - think we dodged that one - as thats what they are paying for. Though a still risk of some oil exploration, fortunately not in the near future. Now I look at the address properly, it's not on Sandbanks at all but ought to be described instead as Canford Cliffs. On the plus side, global warming risks are much reduced!
|
|
|
|
Post by Financial Thing on Apr 1, 2016 15:28:35 GMT
Or someone spoiling their views by building a giant offshore windfarm - think we dodged that one - as thats what they are paying for. Though a still risk of some oil exploration, fortunately not in the near future. Now I look at the address properly, it's not on Sandbanks at all but ought to be described instead as Canford Cliffs. On the plus side, global warming risks are much reduced! I know this property well. The road it's on is a stones throw away (if you have a strong arm) from Sandbanks. The road is busy and the location isn't ideal but it's still prime real estate. Flats are in huge demand in that area. Lots of retirees who don't want the hassle of house maintenance.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 1, 2016 15:33:30 GMT
... but want to be within walking distance of Rick Stein's new eatery!
|
|
|
|
Post by MoneyThing on Apr 1, 2016 15:57:12 GMT
If I look at BPF373 under "My Loans", then I see the "sell" button is present. Is that supposed to be disabled until loan is fully filled? Our mistake. Now fixed. Thank you for alerting us. Kind regards, Ed
|
|
Try 
