elsee
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Retired:D
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Post by elsee on Jul 9, 2017 13:28:38 GMT
Drawdown BLs have a larger type face for days remaining in the listing page and the drawdown date in the particulars eg BL043/026. Has that been confirmed anywhere? I thought that was just a glitch! (If that is the standard, it should be retrospectively applied to other loans - at least the in-flight ones - for consistency.) So BL0007, with 4 days left has never drawn down?
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Post by df on Jul 10, 2017 3:59:48 GMT
I assume these COL loans are still not drawn down yet, as the Lendy loan is still active and the latest update on it is: 06/07/2017 - Sale of remaining units being delayed by the potential purchaser but the sale is still expected to proceed. Is there anywhere we can see the draw-down status of a loan on Collateral? I was curious about this one too. I've sold my Lendy's part and invested in COL's multiple version. I thought there will be a 'loan repaid' e-mail coming soon, but it didn't. I'm guessing L still has first legal charge of the property. There is certainly lack of information on the process of refinancing this loan from both platforms. It has 104 days remaining with L and 41 with COL..... we'll probably find out more in 6 week time?
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elliotn
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Post by elliotn on Jul 10, 2017 6:18:39 GMT
Collateral Rep , could we have an update on these properties please based on above discussion, many thanks
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Post by Collateral Rep on Jul 10, 2017 10:09:14 GMT
Morning,
Sorry I've not got back sooner but the borrower has been away. As for the loans, we expect these loans to be drawn down withing the next two weeks.
Many thanks,
Gordon
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elliotn
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Post by elliotn on Jul 10, 2017 10:35:28 GMT
Morning, Sorry I've not got back sooner but the borrower has been away. As for the loans, we expect these loans to be drawn down withing the next two weeks. Many thanks, Gordon Many thanks Gordon, can we expect these to revert to the original 90 days, any particular reason for the hold up? Thx.
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Post by Collateral Rep on Jul 10, 2017 10:51:56 GMT
Morning elliotn, Yes these will revert to 90 days once the loans have drawn down. The delay has just been down to the borrower being away and our legals had a couple of questions that needed answering. Many thanks, Gordon
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Post by Collateral Rep on Jul 10, 2017 10:55:26 GMT
Morning @new2p2p,
This is something the developers are working on and will change to something more obvious, but at the moment the days in bold are loans that the draw down date has changed.
Many thanks,
Gordon
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elliotn
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Post by elliotn on Jul 10, 2017 10:58:08 GMT
Thanks Gordon, given the relatively recent move into larger property deals am reassured by such legals (especially against the sending platforms) along with the 2-3 loans you were prepared to cancel rather than store up problems for later on (y) .
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GeorgeT
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Post by GeorgeT on Jul 10, 2017 11:02:43 GMT
Thanks Gordon, loving your legals, especially for transfers where you are coming across as more stringent than the sending platform and the 2-3 loans you were prepared to cancel upon further DD. Me too and it's resulted in me transferring extra funds into COL over the last week. Today my COL Confidence Rating has increased a bit more and after I get home from my appointment this PM, I'm intending to up my COL investment once again.
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Post by Collateral Rep on Jul 21, 2017 7:38:52 GMT
Morning,
We've been in touch with the borrower and our legals regarding these loans and been informed that sales are going through. The borrower has agreed to pay the interest to date, so we will be repaying the loans today once our legals give us the go ahead.
Many thanks,
Gordon
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GeorgeT
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Post by GeorgeT on Jul 21, 2017 12:38:23 GMT
These were very nice investments - an excellent 14% while they lasted.
Now to peruse the current availability to decide where to re-invest my money. It will be staying on COL.
I just wish some of the current availables were closer to being full, because of course we have to wait till loans are fully funded on COL before the SM kicks in, and that impacts on liquidity in the short term. But if everybody thought that way the platform wouldn't work so I'm going to do my bit.
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elliotn
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Post by elliotn on Jul 21, 2017 13:48:48 GMT
These were very nice investments - an excellent 14% while they lasted. Now to peruse the current availability to decide where to re-invest my money. It will be staying on COL. I just wish some of the current availables were closer to being full, because of course we have to wait till loans are fully funded on COL before the SM kicks in, and that impacts on liquidity in the short term. But if everybody thought that way the platform wouldn't work so I'm going to do my bit. Strangely, DL3 may fill before DL2 but I guess our developer would prefer DL2 first - I can only imagine some investors believe they are diversifying their risk or are choosing the smaller loan to fill fastest? Getting the appropriate funds to our developer quickest would make our investment safest.
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star dust
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Post by star dust on Jul 21, 2017 14:17:14 GMT
Strangely, DL3 may fill before DL2 but I guess our developer would prefer DL2 first - I can only imagine some investors believe they are diversifying their risk or are choosing the smaller loan to fill fastest? Getting the appropriate funds to our developer quickest would make our investment safest. No illusion of diversification here, but I believe smaller tranches tend to be more liquid should one want to sell some, an experience borne out for me with MT recently. Just to add that I have invested some of my Collateral returns today in both these tranches
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elliotn
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Post by elliotn on Jul 21, 2017 14:50:01 GMT
Morning, We've been in touch with the borrower and our legals regarding these loans and been informed that sales are going through. The borrower has agreed to pay the interest to date, so we will be repaying the loans today once our legals give us the go ahead. Many thanks, Gordon Hi Collateral Rep, what sales are going through?
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elliotn
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Post by elliotn on Aug 4, 2017 15:05:56 GMT
Morning, We've been in touch with the borrower and our legals regarding these loans and been informed that sales are going through. The borrower has agreed to pay the interest to date, so we will be repaying the loans today once our legals give us the go ahead. Many thanks, Gordon Hi Collateral Rep, what sales are going through? Collateral Rep to enable investors to appraise your platform, processes and your loan communications, please advise what sales were going through for these properties according to the borrower and your solicitors.
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