adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
|
Post by adrian77 on Mar 31, 2018 12:15:43 GMT
I am losing track of what is happening here with loans for buy backs, consolidation, renewals etc
I note we currently have the following on the market
But we have the original (I think) loans in the SM
so I bought one in the SM and see no point whatsoever in buying the renewal as I got a higher rate for a lower LTV - am I missing something?
It was only a nibble so prepared to risk it.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Mar 31, 2018 12:41:10 GMT
I am losing track of what is happening here with loans for buy backs, consolidation, renewals etc I note we currently have the following on the market But we have the original (I think) loans in the SM so I bought one in the SM and see no point whatsoever in buying the renewal as I got a higher rate for a lower LTV - am I missing something? It was only a nibble so prepared to risk it. Might be wrong..i usually am..and you're probs already in the know but the 1st loan number you quote (though missed the 3 off ) is regarding the freehold interest and the 2nd is a particular flat ?
|
|
adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
|
Post by adrian77 on Mar 31, 2018 13:55:37 GMT
very true but I suspect the flats will be easier to sell on an individual basis and at a higher unit price rather than the entire development. My point was that with people selling earlier loans on the SM at a discount it is affecting the primary market offerings. Not convinced FS have thought this one through - also with so many loans now in default I can see more and more of us ditching loans on the SM. I agree with an earlier post that said most SM loans weren't worth buying but there were still a few bargains to be had...I am not in the student accommodation market so interesting one to watch
|
|
adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
|
Post by adrian77 on Apr 25, 2018 15:52:13 GMT
I am a bit unsure how much money this chap has borrowed from FS (US) but it is clearly a lot! I am also unsure as to why he keeps needing to borrow money - although I guess most students have found somewhere to lodge at this point of the academic year!
I note room 32 is on the SM at a discount so why would anybody invest in room 33 paying a lower rate? Need to think whether this one is worth a nibble on the SM...
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Apr 25, 2018 17:31:27 GMT
I am a bit unsure how much money this chap has borrowed from FS (US) but it is clearly a lot! I am also unsure as to why he keeps needing to borrow money - although I guess most students have found somewhere to lodge at this point of the academic year! I note room 32 is on the SM at a discount so why would anybody invest in room 33 paying a lower rate? Need to think whether this one is worth a nibble on the SM... -0.3% with more than half the term gone ?..hardly worth losing the brain cells trying to work out the maths...a nibble with the ISA is my answer
|
|
adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
|
Post by adrian77 on Apr 25, 2018 18:03:17 GMT
sounds good to me - this one has filled despite discounted loans being on the SM - given they are due to complete first I guess they will be repaid earlier and are safer should this chap hit cashflow problems later on...
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Apr 25, 2018 18:10:59 GMT
sounds good to me - this one has filled despite discounted loans being on the SM - given they are due to complete first I guess they will be repaid earlier and are safer should this chap hit cashflow problems later on... I did have a shuffty on the SM..but 0.3% was the tops..actually 0.4% is now...but 1 and a bit pages..and only 2 offers have more than a 100 days left..you're talking pennies here..unusual for a developer
|
|
adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
|
Post by adrian77 on Nov 1, 2018 13:44:12 GMT
well the above is concise, meaningful and informative I don't think!
I read this to be - borrower is stuffed for cash and hence praying for a sale sometime soon which is still to be confirmed. Why do I think this - because I don't see else a developer would need to borrow money at 20% or whatever per year !
Why would any investor buy one of these flats at this time of year unless it was below market value?
There are a lot of these on the SM...
|
|
benaj
Member of DD Central
Posts: 4,853
Likes: 1,591
|
Post by benaj on Apr 26, 2019 21:54:24 GMT
R*33 - Completed 18/04/2019
R*32 renewal - Completed 18/04/2019
R*28 renewal - Completed 18/04/2019
R*53 - Completed 09/04/2019
R*57 renewal - Completed 09/04/2019
11 student-flats loans remain active
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
|
Post by sqh on May 17, 2019 14:38:36 GMT
Dear fundingsecure Please explain why the unsold flats have not been renewed. There were 2 updates in January which clearly stated the first 4 sales would provide surplus funds to renew the unsold loans. 18/01/2019 We now have written confirmation that 4 units have been sold STC with completion expected within 3 weeks. This will yield sufficient equity to renew this loan. 02/01/2019 We understand that 3 long leasehold units are now sold with completion expected within the next month. More are expected to exchange in January. This should provide sufficient surplus to renew this loan.
|
|
benaj
Member of DD Central
Posts: 4,853
Likes: 1,591
|
Post by benaj on May 17, 2019 14:58:45 GMT
New updates for Rm 65 (322 days) / Rm 55 (322 days) / Rm 51 (430 days) / Rm 19 (318 days) 4 hours ago.
" Funds are expected today and will repay all investor's capital and interest in full."
The updates are similar to the ones repaid in April. Hopefully fund will be paid to investors soon.
|
|
|
Post by spareapennyor2 on May 20, 2019 16:06:40 GMT
Still not seen repayments yet today 20/5/19 17.00pm? (It,s in the post)
|
|
paulb
Member of DD Central
Posts: 131
Likes: 112
|
Post by paulb on May 21, 2019 16:39:45 GMT
Repayments now seem to be coming through (I was in a couple of these, and just got the emails).
|
|
|
Post by spareapennyor2 on Aug 29, 2019 13:55:18 GMT
4/3/19 RM 72 STC deposit taken should this be completed by now? fundingsecure
|
|
p2ploser
Member of DD Central
Posts: 163
Likes: 221
|
Post by p2ploser on Aug 29, 2019 18:35:18 GMT
There are a number of loans where they have said they have deposits or significant (but not full) repayments however months pass without anything paid back to investors. I did ask them directly why this was but they refused to answer, like they do to most questions. Conclude from that what you will.
|
|