cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 26, 2017 15:39:26 GMT
On the first paragraph found on the loan overview (the pipeline loan) "Please read these loan particulars together with those relating to PBL084 - Scottish Estate. The Estate property is security for both PBL084 and this new loan, which is a second charge loan."But it goes on to say: There is a further legal charge registered against the estate property, by a third party, which will rank behind both PBL084 and this loan, in terms of priority in a recovery scenarioMy reading is that this is First Charge but a third party holds a second charge. ie after PBL084 is repaid. I don't understand your final sentence - PBL084 isn't repaying...? I think it needs clarification from savingstream . To me, it sounds like there will be a new loan which will rank as a second charge behind PBL084 (but ahead of the third party charge). However, the particulars do note that the Primary Security is "First Legal charge", but that could refer to the charge SSSH Ltd hold Have dropped SS a message to see what they say
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jayjay
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Post by jayjay on Mar 26, 2017 16:53:14 GMT
But it goes on to say: There is a further legal charge registered against the estate property, by a third party, which will rank behind both PBL084 and this loan, in terms of priority in a recovery scenarioMy reading is that this is First Charge but a third party holds a second charge. ie after PBL084 is repaid. I don't understand your final sentence - PBL084 isn't repaying...? I think it needs clarification from savingstream . To me, it sounds like there will be a new loan which will rank as a second charge behind PBL084 (but ahead of the third party charge). However, the particulars do note that the Primary Security is "First Legal charge", but that could refer to the charge SSSH Ltd hold Have dropped SS a message to see what they say Sorry I assumed there was a roll up (perhaps all under a new number) as the particulars said "First Legal Charge". I can now see the ambiguity as the other interpretation is that the new loan is not pari passu. Clarification is needed as you say.
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elliotn
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Post by elliotn on Mar 26, 2017 17:29:25 GMT
On the first paragraph found on the loan overview (the pipeline loan) "Please read these loan particulars together with those relating to PBL084 - Scottish Estate. The Estate property is security for both PBL084 and this new loan, which is a second charge loan."But it goes on to say: There is a further legal charge registered against the estate property, by a third party, which will rank behind both PBL084 and this loan, in terms of priority in a recovery scenarioMy reading is that this is First Charge but a third party holds a second charge. ie after PBL084 is repaid. Pbl084 is not being repaid it is being extended; pblke is being issued as a 2C; the external charge will sit behind both. From the loan subscription: - this loan has been agreed to...extend the term of PBL084 by six months; - the Estate property is security for both PBL084 and this new loan, which is a second charge loan; - there is a further legal charge...which will rank behind both PBL084 and this loan. Or...am I missing something?
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jayjay
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Post by jayjay on Mar 26, 2017 17:41:05 GMT
But it goes on to say: There is a further legal charge registered against the estate property, by a third party, which will rank behind both PBL084 and this loan, in terms of priority in a recovery scenarioMy reading is that this is First Charge but a third party holds a second charge. ie after PBL084 is repaid. Pbl084 is not being repaid it is being extended; pblke is being issued as a 2C; the external charge will sit behind both. From the loan subscription: - this loan has been agreed to...extend the term of PBL084 by six months; - the Estate property is security for both PBL084 and this new loan, which is a second charge loan; - there is a further legal charge...which will rank behind both PBL084 and this loan. Or...am I missing something? The Loan Particulars Tab for the new pipeline loan that is explicit "First Legal Charge" - Not unreasonable to start there! I agree that everything else now suggests the other.
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elliotn
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Post by elliotn on Mar 26, 2017 17:54:06 GMT
Got you, they must take due care sloppiness does not transgress into misselling.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 28, 2017 11:43:02 GMT
New DFL in the Pipeline
GDV £14,400,000
LTGV £2,203,851
LOAN TO VALUE 15%
TERM 451 days
ANNUAL RATE 10%
CURRENT VALUE £3,775,000
LTV 58%
NOTE : Connected to all the SD loans (Huddersfield & Cardiff Loans on SS, Football Ground @ MT)
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 28, 2017 12:06:00 GMT
DFL010 - Tranche 3 has also appeared
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 28, 2017 13:04:38 GMT
DFL008 - Tranche 6 - On Pipeline
Busy day
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gt94sss2
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Post by gt94sss2 on Mar 28, 2017 17:03:29 GMT
New DFL in the Pipeline GDV £14,400,000 LTGV £2,203,851 LOAN TO VALUE 15% TERM 451 days ANNUAL RATE 10%
CURRENT VALUE £3,775,000 LTV 58% NOTE : Connected to all the SD loans (Huddersfield & Cardiff Loans on SS, Football Ground @ MT) Hmm.. given its in Scotland, I wonder if we should all be demanding a risk premium due to the antics of the SNP
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elliotn
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Post by elliotn on Mar 28, 2017 17:07:01 GMT
Hmm.. given its in Scotland, I wonder if we should all be demanding a risk premium due to the antics of the SNP Depends whether you think Nicola prefers hard Sexit or soft.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 28, 2017 17:12:14 GMT
Hmm.. given its in Scotland, I wonder if we should all be demanding a risk premium due to the antics of the SNP Depends whether you think Nicola prefers hard Sexit or soft. Hard Sexit....... . Wait What....
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SteveT
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Post by SteveT on Mar 28, 2017 17:19:35 GMT
Depends whether you think Nicola prefers hard Sexit or soft. Hard Sexit....... . Wait What.... That approach includes a Glaswegian kiss
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ablender
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Post by ablender on Mar 28, 2017 19:51:37 GMT
I think SS are intentioned to flood the market. Releasing £6m tomorrow.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 28, 2017 19:51:43 GMT
ADVANCE LOAN GO-LIVE NOTICE
DFL008 - Tranche 6 DFL010 - Tranche 3 DFL020 PBL166 PBL167
All going live on Wednesday (29/03/2017).
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awk
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Post by awk on Mar 28, 2017 20:00:58 GMT
ADVANCE LOAN GO-LIVE NOTICE DFL008 - Tranche 6 DFL010 - Tranche 3 DFL020 PBL166 PBL167 All going live on Wednesday (29/03/2017). Mmmmm ... I'd put money on 143 paying back tomorrow .... given the current SM, getting all these new loans away would be challenging, but £7.9m coming back would REALLY help or is that just wild speculation ?
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