elliotn
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Post by elliotn on Aug 31, 2017 5:34:55 GMT
(Couldn't see thread for this.) hi ablrate , could you provide an update on this demolition and development loan please after the first half year+, I did ask via Comments some months ago but it has remained unanswered, many thanks.
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Post by ablrate on Aug 31, 2017 14:38:01 GMT
Hi
Will get an update and sort the comment out also
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Post by dan1 on Jul 13, 2018 20:06:20 GMT
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nick
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Post by nick on Dec 22, 2020 14:26:07 GMT
ablrate - In the addendum to the borrowing proposal dated 19 Sept 2019, you stated that a 1.5% exit fee would be receivable if the loan extended beyond 10 Aug 2019. Please can you confirm that the exit fee will still be payable as part of the final settlement.
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Post by ablrate on Dec 22, 2020 14:51:57 GMT
ablrate - In the addendum to the borrowing proposal dated 19 Sept 2019, you stated that a 1.5% exit fee would be receivable if the loan extended beyond 10 Aug 2019. Please can you confirm that the exit fee will still be payable as part of the final settlement. I do believe it does.
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Post by Badly Drawn Stickman on Dec 29, 2020 20:05:42 GMT
ablrate - In the addendum to the borrowing proposal dated 19 Sept 2019, you stated that a 1.5% exit fee would be receivable if the loan extended beyond 10 Aug 2019. Please can you confirm that the exit fee will still be payable as part of the final settlement. I do believe it does. Must be some non believers, selling at a slight discount at the moment. I decided to have a bit of faith with some idle funds, what could possibly go wrong...
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Post by Ace on Dec 29, 2020 20:50:24 GMT
Must be some non believers, selling at a slight discount at the moment. I decided to have a bit of faith with some idle funds, what could possibly go wrong... Very trusting of you. Especially as it doesn't say whether the exit fee is payable to lenders or ABLrate! Personally, I'm more comfortable with atheism.
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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 Dec 29, 2020 20:55:19 GMT
Must be some non believers, selling at a slight discount at the moment. I decided to have a bit of faith with some idle funds, what could possibly go wrong... Perhaps they have read the administrators reports which seemed to paint a different picture to that on the platform. Seems to have pulled into to line recently and full settlement seems likely as indicated so probably not a bad punt
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blender
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Post by blender on Feb 1, 2021 13:00:40 GMT
The repayment of this capital is dragging on, considering that the property has been sold, presumably by the administrator. Ablrate lender are supposed to have first legal charge, by way of assignment of the charge held by the Borrower. I hope the cash is to be directly remitted to Ablrate's client account, and is not to work its way through the borrower. If the latter, then it could easily get stuck, and while it does the security has already gone.
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IFISAcava
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Post by IFISAcava on Feb 1, 2021 13:08:36 GMT
The repayment of this capital is dragging on, considering that the property has been sold, presumably by the administrator. Ablrate lender are supposed to have first legal charge, by way of assignment of the charge held by the Borrower. I hope the cash is to be directly remitted to Ablrate's client account, and is not to work its way through the borrower. If the latter, then it could easily get stuck, and while it does the security has already gone. There are all sorts of complications in the background that I don't pretend to understand (and which haven't fully been disclosed due to ongoing legal proceedings) but if you are stuck in The Crowdstacker side of these loans then there was a recent update that might help explain what might be contributing to the delay.
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blender
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Post by blender on Feb 2, 2021 12:52:50 GMT
The repayment of this capital is dragging on, considering that the property has been sold, presumably by the administrator. Ablrate lender are supposed to have first legal charge, by way of assignment of the charge held by the Borrower. I hope the cash is to be directly remitted to Ablrate's client account, and is not to work its way through the borrower. If the latter, then it could easily get stuck, and while it does the security has already gone. There are all sorts of complications in the background that I don't pretend to understand (and which haven't fully been disclosed due to ongoing legal proceedings) but if you are stuck in The Crowdstacker side of these loans then there was a recent update that might help explain what might be contributing to the delay. I have never been with Crowdstacker and have only a very small Ablrate investment in 60. But if I were with Crowdstacker and had a lost stake in the £8M? BN hole that they dug and jumped into, imo, without taking first charges on the real estate security, then I would would not wish to see Crowdstacker sit by as the proceeds of sales such as this go elsewhere. So I can understand the delays, as long as the funds do not go via the borrower.
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Post by Badly Drawn Stickman on Feb 3, 2021 9:35:23 GMT
There are all sorts of complications in the background that I don't pretend to understand (and which haven't fully been disclosed due to ongoing legal proceedings) but if you are stuck in The Crowdstacker side of these loans then there was a recent update that might help explain what might be contributing to the delay. I have never been with Crowdstacker and have only a very small Ablrate investment in 60. But if I were with Crowdstacker and had a lost stake in the £8M? BN hole that they dug and jumped into, imo, without taking first charges on the real estate security, then I would would not wish to see Crowdstacker sit by as the proceeds of sales such as this go elsewhere. So I can understand the delays, as long as the funds do not go via the borrower. Crowdstacker sounds a little like an extreme version of twister, probably not for me. Given the everyday and mundane payments have a wealth of excuses for being late currently complex and involved probably feels obliged to be very slow. I am happy to have endless patience as long as somebody (seems to be the friend of a neighbour) is making the interest payments. Then I probably hold even less than you.
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blender
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Post by blender on Feb 3, 2021 15:48:05 GMT
I doubt that anyone could have a holding smaller than mine. I was tempted by the 1.5% exit fee, and I thought I could see the exit. Now it seems to be hazy and my expectation of a huge IRR, or a few pounds in real money in a few days, has been cruelly dashed. It's a tough game.
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Post by Badly Drawn Stickman on Feb 17, 2021 18:00:08 GMT
I doubt that anyone could have a holding smaller than mine. I was tempted by the 1.5% exit fee, and I thought I could see the exit. Now it seems to be hazy and my expectation of a huge IRR, or a few pounds in real money in a few days, has been cruelly dashed. It's a tough game. I hope you have been steadily accumulating, two in the bush is better than one in the hand and all that. Think the interest for this month might be in the bush as well sadly.
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blender
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Post by blender on Feb 17, 2021 22:53:06 GMT
I doubt that anyone could have a holding smaller than mine. I was tempted by the 1.5% exit fee, and I thought I could see the exit. Now it seems to be hazy and my expectation of a huge IRR, or a few pounds in real money in a few days, has been cruelly dashed. It's a tough game. I hope you have been steadily accumulating, two in the bush is better than one in the hand and all that. Think the interest for this month might be in the bush as well sadly. Accruals can be quite impressive, but they are rather like dreams. When you wake up you can discover that they were not real.
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