mary
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Post by mary on Sept 4, 2017 18:09:55 GMT
N*** R**** & Sons
Loan Value: £350,000 Rate: 7% Loan Type: Bespoke Loan
Loan Term: 12 months
Security: Bespoke
Repayment Type: Interest only with bullet repayment
Sector: Construction and materials
NB. This is the 3rd in a series of loans to the same company.
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Steerpike
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Post by Steerpike on Sept 4, 2017 18:21:03 GMT
I invested in the previous loan to this company on 28-Jul-17 and it still hasn't drawn down, some legal issue apparently and expected to complete this week, hopefully this loan will not be affected.
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mary
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Post by mary on Sept 4, 2017 18:25:35 GMT
I invested in the previous loan to this company on 28-Jul-17 and it still hasn't drawn down, some legal issue apparently and expected to complete this week, hopefully this loan will not be affected. Useful to know.
As no interest is paid until drawdown, I tend to avoid 6 month loans as this period drags the rate down, but this is an extended period which is unusual.
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savernake
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Post by savernake on Sept 4, 2017 18:56:01 GMT
Interesting to see the loan is 'bespoke'. Presumably this would mean it is less secure than the standard 'secured & insured' or 'secured and assigned'?
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Post by hugoarchover on Sept 19, 2017 15:17:51 GMT
Interesting to see the loan is 'bespoke'. Presumably this would mean it is less secure than the standard 'secured & insured' or 'secured and assigned'? Hi savernake sorry for the delayed reply.- 'Bespoke' is for any project that does not fit exactly into either the S&I or S&A service offerings. It could by definition be more or less secure than S&A or S&I - the interest rates are there to help provide an indication of the security. To use two very obvious examples - there was bespoke loan paying 10% p.a. and there has been a bespoke loan paying 7% p.a. - as with all loans, please review the loan security tab on the funding request for full loan security information.
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