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Post by sannytwist on Feb 1, 2017 20:02:39 GMT
Happy Chinese New Year all, recently decided to reduce the amount of exposure to property and invest across jewellery/cars etc to diversify. However, just been doing my DD on this new loan for the 3rd.
For this loan its interesting that there is no bid limit but it also states that this will last for 1 hour only.
- Anyone know what that means?
- Is collateral planning to let everyone invest whatever they want for 1hr then after put a bid limit on after?
Any other opinions on this loan would be appreciated.
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mason
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Post by mason on Feb 1, 2017 20:35:37 GMT
It just looks like an artefact of the limit system to me. There are no limits in the first hour or thereafter.
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Post by Collateral Rep on Feb 1, 2017 20:46:01 GMT
Hi sannytwist, Yes, that shouldn't be showing, I'll get it fixed. To confirm, there is no bid limit on this loan. Many thanks, Gordon
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 2, 2017 19:43:56 GMT
I can't see anywhere in the Valuation Report verification of how many rooms there are? What sort of VR omits such important info, especially for a Hotel?!
Collateral Loan Details state: "Currently there have been discussions with the Local planning and Councillors who support the extension of an additional 78 rooms in addition to the 20 currently."
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Post by Collateral Rep on Feb 2, 2017 20:01:56 GMT
Hi ozboyFrom the valuation on page three "Accommodation". At ground floor level are seven letting rooms all being en-suite, a single storeroom and workshop / garage. First Floor Accessed via two separate stairwells at ground floor level on to the landing providing access to seven letting rooms six of which are ensuite and a single laundry room. Arranged over the upper floor within the outbuilding are an additional seven letting rooms, four being en-suite and a single storeroom. Many thanks, Gordon
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 2, 2017 20:25:11 GMT
Correct, my apologies, thank you Gordon.
I am used to seeing a "Total" number of rooms in most VRs and missed the figures in among all the wordage - still no excuse for me though!
Thanks also for such a swift response, V much appreciated.
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Post by spareafewcoppersguv on Feb 3, 2017 10:34:48 GMT
Live now, but only circa 9% gone after 30 minutes.....
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Post by Collateral Rep on Feb 3, 2017 11:13:38 GMT
Morning,
Yes we didn't expect due to the size of the loan to fill straight away but we wanted to give our investors the opportunity to invest before the borrower is due to drawdown, which will be at the end of February. During this time investors will receive their interest.
Any balance still available will be offered to our alternative investment groups.
As usual thanks for all our investors support.
I'll post shortly with upcoming investment opportunities we have in place and an outline of a new partnership.
Many thanks,
Gordon
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SteveT
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Post by SteveT on Feb 10, 2017 11:41:43 GMT
From the absence of further discussion of this one, I'm guessing the fact it's only 35% filled is simply the loan size versus the appetite of the current CL lender base. Or has anyone spotted anything dubious that's not been mentioned?
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Post by Collateral Rep on Feb 10, 2017 11:46:00 GMT
Yes SteveT As mentioned above, we didn't expect due to the size of the loan to fill straight away but we wanted to give our investors the opportunity to invest before the borrower is due to drawdown, which will be at the end of February. During this time investors will receive their interest. Any balance still available will be offered to our alternative investment groups. Many thanks, Gordon
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kaya
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Post by kaya on Feb 10, 2017 12:24:12 GMT
From the absence of further discussion of this one, I'm guessing the fact it's only 35% filled is simply the loan size versus the appetite of the current CL lender base. Or has anyone spotted anything dubious that's not been mentioned? Ah, do I detect a whiff of temptation?
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elliotn
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Post by elliotn on Feb 10, 2017 14:55:22 GMT
From the absence of further discussion of this one, I'm guessing the fact it's only 35% filled is simply the loan size versus the appetite of the current CL lender base. Or has anyone spotted anything dubious that's not been mentioned? Valuation is purchase price so looks like some value there. I haven't broken yet though as I'm at current platform limit and have enough prop elsewhere Edit - actually probably mainly because of liquidity, not a term holder for me.
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Post by sannytwist on Feb 10, 2017 15:30:21 GMT
Hi all, having invested some resources on this loan. I kinda expected it to fill up alot faster. Anyway was wondering about 2 things
- With around 35% of the loan filled and progress so slow, what actually happens if the loan doesn't get filled 100% ?
- Interest has already started to accrue so does that mean collateral has provided 100% of the loan to the borrower ?
Any opinion is appreciated.
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Post by Deleted on Feb 10, 2017 16:48:29 GMT
See Collateral post of 3/2 above - whatever alternative agents are? Also loan does not drawdown until end of February, but perhaps Col have interest in advance and transfer that unused to the alternative agent = who knows?
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Post by sannytwist on Feb 10, 2017 17:18:24 GMT
Thanks for moving my post here, l think l will withhold my funds and see what happens. Already took more than l intended.
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