Jeepers
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Post by Jeepers on Apr 9, 2018 19:44:31 GMT
How can actual photos showing the property condition be 'negative images'? It is what it is. I would think the new funder would be underwriting the loan on a new property valuation survey report rather than reading what is posted on an internet forum Why are you here on the forum then? I find the forum to give a more accurate view than a RICS valuation on some occasions. For instance, the tin shed
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withnell
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Post by withnell on Apr 10, 2018 5:38:42 GMT
Might well be that the value of the completed parts is enough security for the refinancing?
I get that Lendy's updates are lacking useful information most of the time, but that doesn't automatically mean that what they put is wrong - I'm sure I saw that there are flats at the development currently rented out which implies a certain level of completion plus an income stream
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Post by p2plender on Apr 11, 2018 0:32:45 GMT
"The refinance formalities are progressing and the borrower remains confident that full repayment of the loan should be achieved on 14 April 2018."
So by Monday morn this should be repaid and the sm will be flooded with new cash.
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hazellend
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Post by hazellend on Apr 11, 2018 6:30:12 GMT
"The refinance formalities are progressing and the borrower remains confident that full repayment of the loan should be achieved on 14 April 2018."So by Monday morn this should be repaid and the sm will be flooded with new cash. Can’t see this kind of transaction being processed over the weekend so I would say by Friday next week is more realistic. Who knows though, cement paid on time Either way it is beyond Lendys control
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Post by p2plender on Apr 11, 2018 8:00:30 GMT
Most things are
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copacetic
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Post by copacetic on Apr 13, 2018 11:17:41 GMT
If the borrower's confidence is justified this repays tomorrow.
Will it? Won't it? Who knows?
What baffles me is the person who invested £4k today which would net a grand total of £1.37 interest in a best case scenario or alternatively the loan defaults and they're exposed to the risk of capital loss. Strange investment imo.
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Post by retired2005 on Apr 13, 2018 11:20:10 GMT
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Post by retired2005 on Apr 13, 2018 11:26:23 GMT
....and he also took another couple of K a couple of days ago.....
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Post by gaspilot on Apr 13, 2018 11:30:57 GMT
I wonder if (s)he believes the underlying security is good but the loan won't repay on time and (s)he will get a lot of bonus interest.
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Post by loftankerman on Apr 13, 2018 11:49:29 GMT
If the borrower's confidence is justified this repays tomorrow. Will it? Won't it? Who knows? What baffles me is the person who invested £4k today which would net a grand total of £1.37 interest in a best case scenario or alternatively the loan defaults and they're exposed to the risk of capital loss. Strange investment imo. Or maybe there is a cunning plan at play here... Anybody remember Brewster's Millions?
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r1200gs
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Post by r1200gs on Apr 13, 2018 12:59:59 GMT
It'll certainly rattle the secondary market if it pays out. Still, I'm not going to be holding my breath, I know how the game works now.
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Post by brock on Apr 13, 2018 14:31:37 GMT
Well, what a surprise.....this isn't going to be repaid tomorrow after all.
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GeorgeT
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Post by GeorgeT on Apr 13, 2018 14:31:53 GMT
It would be quite remarkable and almost unprecedented if a loan repaid exactly on the due date, let alone a multi tranche, multi-million-pound development finance loan.
If it does repay in full it will surely be the very first big DFL to be repaid in full. And with a gold star on top for repaying bang on time. It would represent a massively good result and victory for LY and even the platform's harshest critics would have to acknowledge that. However it's got to happen first...
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Post by brock on Apr 13, 2018 14:34:35 GMT
It would be quite remarkable and almost unprecedented if a loan repaid exactly on the due date, let alone a multi tranche, multi-million-pound development finance loan. If it does repay in full it will surely be the very first big DFL to be repaid in full. And with a gold star on top for repaying bang on time. It would represent a massively good result and victory for LY and even the platform's harshest critics would have to acknowledge that. However it's got to happen first... You can hang on to that gold star. The website has been updated with the latest progress on refinancing
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Jeepers
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Post by Jeepers on Apr 13, 2018 14:46:36 GMT
Here we go again...
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