elliotn
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Post by elliotn on Jun 25, 2017 2:37:49 GMT
isnt it positive that the borrower intends to return money earlier Normally it has been tricky to stay invested on MT and there are investors who like to stay invested in their loans as long as possible. In terms of protecting your capital, yes, full redemption is good!
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Post by dan1 on Aug 17, 2017 22:06:50 GMT
From loan updates 17/08/2017: It is now likely that this loan will repay at term in December and not by the end of August as previously stated.
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Post by mrclondon on Nov 8, 2017 17:26:13 GMT
With maturity now just 5 weeks away, I've reminded myself of the background.
The Y-V group has three SPV's with p2p loans: a) this loan and the six TC loans against other associated cottages and land plots (all due next month) b) five TC loans against a pub/hotel refurbishment overdue since April/May 2017 c) MT-FPAA664 and two TC loans against the Bradford residential development
All 13 TC loans to this group are labelled by TC as either status D (missing payment) or E (unresolved questions) and consequently have been untradable for some time. Cashflow for the group seems tight, with late/missing payments on the TC loans the norm this year which possibly indicates a lack of cash elsewhere in the group to support non cash generative SPV's via inter company loans and/or by director loans.
The cottage that is the security for this loan and the cottages of the related TC loans are managed by the hotel in whose grounds the cottages are located. The terms of the MT loan differ from the TC loans, and it would be wrong to necessarily extrapolate the status of the six TC loans to imply anything about the MT loan. That said, neither the borrower SPV nor the sister SPV that owns the hotel have filed accounts since incorporation in the autumn of 2015 by twice having reduced the initial accounting period by a day to reset the CH clock. The former’s first accounts were due this week (7th Nov) after 2 extensions. The local paper reported at the beginning of September that a major planning application for the expansion of the number of holiday properties on the site had been rejected. As a minimum the proposal needs reworking to meet environmental concerns regarding ancient woodland.
Looking at the three SPV's that have p2p loans there looks to be a real risk of over reach in the group with 2 of the 3 needing cash to support on going protracted planning applications, as well as all three needing debt servicing.
EDIT: I've provided references to support this post on a thread (Y-V Group) on the DD Central board "X Platform".
Disclosure: I did have a small holding in this loan, but sold out a few weeks ago at the time I sold the FPAA664 loan.
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Post by Badly Drawn Stickman on Nov 8, 2017 19:17:44 GMT
That should wake the SM up.
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copacetic
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Post by copacetic on Nov 8, 2017 21:06:53 GMT
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hazellend
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Post by hazellend on Nov 8, 2017 21:21:57 GMT
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