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Post by crabbyoldgit on Aug 2, 2017 16:03:12 GMT
Am i missing something ,but it seems we are being asked by the borrower to vote for reduced security for no increase in interest , minded to say no thanks.Even 1/2 percent would help.
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loan 457
Aug 2, 2017 17:33:28 GMT
via mobile
Post by 999william on Aug 2, 2017 17:33:28 GMT
Exactly. I've said no for that very reason (although I only hold a small part so my vote is fairly insignificant).
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jlend
Member of DD Central
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Post by jlend on Aug 2, 2017 18:06:05 GMT
I must be invested via the GBBA so a half percent extra interest wouldn't apply to me. I will check.
I am assuming the directors of the provision fund would like me to reject the request since it will reduce the security in the provision fund so I will also vote no.
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baldpate
Member of DD Central
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Post by baldpate on Aug 2, 2017 18:31:34 GMT
I've just reread the Credit Report and I remember this one now. The strength of the CG (despite what AC might say about attributing no value to it) tipped the balance for me on what was otherwise, after all, just another loan to purchase without planning permission. I don't see why I should give that up for something much much weaker at no cost to the borrower.
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jonah
Member of DD Central
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Post by jonah on Aug 2, 2017 19:08:00 GMT
I hold minor amounts in mlia and smaller in GBBA. One of those will be on sale as soon as the restriction is lifted... trying to reduce the security doesn't suggest to me someone who is 100% confident in the plan and if he isn't, should we be?
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ton27
Member of DD Central
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Post by ton27 on Aug 3, 2017 12:36:19 GMT
Most of my holding is in the MLIA and I have voted "No" - the Corp Guarantee was, in my view, fundamental to the loan security.
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