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Post by mrclondon on Jul 20, 2018 12:31:49 GMT
So there you go then, all ye lovers of security. First charge on a residential property, you can't get simpler than that.
Anything not to like?
So there you go then, all ye lovers of security. First charge on a residential property, you can't get simpler than that.
Anything not to like?
Only that I didn't really fancy this one when it was on Collateral, so I'm sticking with my decision again on principle I think the valuation could be 10%ish too high based on the comparables I looked at...I'm in for my standard size though. Well done Huddle! More like this please
One month on, has Huddle indicated that this Newcastle-upon-Tyne) loan has drawn down ? There is no sign of anything having happened at CH on the COL borrowing company, but I suppose it is possible this new loan is in the personal name of the borrower. Was the valuation report a new one commissioned by Huddle, or was it a re-address of the COL VR ?
Has there been any comment from Huddle regarding the other 2 loans that were made by COL to the same borrowing company ?
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SteveT
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Post by SteveT on Jul 20, 2018 12:34:21 GMT
One month on, has Huddle indicated that this Newcastle-upon-Tyne) loan has drawn down ? There is no sign of anything having happened at CH on the COL borrowing company, but I suppose it is possible this new loan is in the personal name of the borrower. Was the valuation report a new one commissioned by Huddle, or was it a re-address of the COL VR ? Has there been any comment from Huddle regarding the other 2 loans that were made by COL to the same borrowing company ? The first loan hasn't filled yet (10% remaining) and no mention of further connected loans.
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Post by dan1 on Jul 20, 2018 16:05:55 GMT
One month on, has Huddle indicated that this Newcastle-upon-Tyne) loan has drawn down ? There is no sign of anything having happened at CH on the COL borrowing company, but I suppose it is possible this new loan is in the personal name of the borrower. Was the valuation report a new one commissioned by Huddle, or was it a re-address of the COL VR ? Has there been any comment from Huddle regarding the other 2 loans that were made by COL to the same borrowing company ? The first loan hasn't filled yet (10% remaining) and no mention of further connected loans. Worth mentioning that all Huddle Capital loans are underwritten by the parent so it's guaranteed to drawdown, well.... until it doesn't of course Borrower is B****** 2005 LTD VR is a 'new' desktop valuation
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metoo
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Post by metoo on Jul 20, 2018 23:40:51 GMT
The VR is newly dated and addressed, though verbatim the same as the previous one, with an appendix that has a more recent printout of comparables which aren’t referenced in the report itself iirc.
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kaya
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Post by kaya on Jul 21, 2018 7:29:14 GMT
Not really good news for Huddle that their secured property loan is attracting such limited interest. You might have thought that Collateral lenders would have had some motivation in supporting refinancing. Not really good news for the Collateral debacle either.
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IFISAcava
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Post by IFISAcava on Jul 21, 2018 7:50:03 GMT
Not really good news for Huddle that their secured property loan is attracting such limited interest. You might have thought that Collateral lenders would have had some motivation in supporting refinancing. Not really good news for the Collateral debacle either. They.re too busy feeling deeply offended that they received a marketing email from Huddle
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Post by valuehunter on Jul 21, 2018 17:47:19 GMT
Not really good news for Huddle that their secured property loan is attracting such limited interest. You might have thought that Collateral lenders would have had some motivation in supporting refinancing. Not really good news for the Collateral debacle either. It's fully funded now... and underwritten by the parent company so always likely to draw down bar something major coming up. I expect we'll see another of the borrower's properties in the coming weeks
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Post by richyp on Jul 25, 2018 13:57:15 GMT
Hi
New to Huddle Capital.
Quick question:
If I invest £1200 in a loan @ 12% which is paid back by the borrower over 12 months of equal installments, do I get 1% interest each month PLUS 1/12th of my original investment back each month (the way Unbolted works) or do I have to wait until the 12th and last payment has been paid back before getting back any of my original investment capital (the way Lendy/Collateral work).
Thanks in advance.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 25, 2018 14:14:33 GMT
Hi New to Huddle Capital. Quick question: If I invest £1200 in a loan @ 12% which is paid back by the borrower over 12 months of equal installments, do I get 1% interest each month PLUS 1/12th of my original investment back each month (the way Unbolted works) or do I have to wait until the 12th and last payment has been paid back before getting back any of my original investment capital (the way Lendy/Collateral work). Thanks in advance. Depends on the profile of the loan. You seem to be describing an amortising loan in your first example but it depends on the repayment profile. If it is a 1 year profile then you would get equal payments each month but in each payment the proportion of the repayment that is capital will increase as the interest part decreases as it it being charged on a diminishing capital sum. If it is a longer profile then the payments will be as described but with a bullet payment at the end to pay of the remaining capital. The second example is an interest only loan where each payment will be 1% interest (slight variations due to length of month) with the capital being repaid in one bullet at term. There are also loans that combine both with an initial interest only period and then switching to an amortising profile.
huddle offer all these types of loans so you would need to read the description. It should alos be clear from the repayment tab how it is paying.
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Post by richyp on Jul 25, 2018 15:11:53 GMT
many thanks for that answer
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Post by dan1 on Jul 27, 2018 12:34:20 GMT
Not really good news for Huddle that their secured property loan is attracting such limited interest. You might have thought that Collateral lenders would have had some motivation in supporting refinancing. Not really good news for the Collateral debacle either. It's fully funded now... and underwritten by the parent company so always likely to draw down bar something major coming up. I expect we'll see another of the borrower's properties in the coming weeks I'm keeping an eye on when drawdown takes place because it may be an indicator of the delays experienced by borrowers in refinancing through BDO. The Bromsgrove loan refinanced 21 days beyond term but that may well have been tardiness on the part of the borrower, FS or BDO, we'll probably never know.
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mw
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Post by mw on Jul 27, 2018 19:00:11 GMT
Just an observation huddlecapital but is it possible to speed up how long it takes for funds to arrive on the platform? I’m used to the instant debit card transaction with Ablrate. Also is there anywhere in the new loans where it mentions the Loan to Value? Sorry only joined yesterday still finding my feet.
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Post by dan1 on Aug 9, 2018 11:28:29 GMT
It's fully funded now... and underwritten by the parent company so always likely to draw down bar something major coming up. I expect we'll see another of the borrower's properties in the coming weeks I'm keeping an eye on when drawdown takes place because it may be an indicator of the delays experienced by borrowers in refinancing through BDO. The Bromsgrove loan refinanced 21 days beyond term but that may well have been tardiness on the part of the borrower, FS or BDO, we'll probably never know. 1000070, the Collateral refinance to B****** 2005 Ltd, still hasn't drawn down. I wonder where the delay is, ACF, BDO, or the borrower. Premiership kicks off tomorrow
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Post by brummiefred on Nov 14, 2019 12:15:47 GMT
1000067 - M*** A***** Developments (MAD) Ltd
Dear Lender,
We have received an offer from M*** A****** regarding the bankruptcy petition we are currently supporting, in relation to the pursuit of his personal guarantee.
The offer would repay loan investors between 85-100% of what would have been expected should the loan have run to the original term.
Our ultimate priority is protecting investors' capital, and whilst it is never ideal that a loan defaults, we feel that this is an acceptable offer and is in the best interests of all investors to support it.
Therefore we have written back to Mr A****** to accept this offer providing he makes a formal agreement with our solicitors to make his offer legally binding.
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