dp
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Post by dp on Feb 4, 2018 14:23:09 GMT
The first of Col's big development loans. Very attractive rates. Col suggesting the lending pool (no of members) is small.
The existing lenders need to fund these final tranches and help it get over the line, both for us and Col.
Does anyone know what the remaining likely drawdown requirements are likely to be?
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dp
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Post by dp on Feb 4, 2018 14:18:52 GMT
Shame that - St A****** within a couple of minutes walk. Having developments on doorstep is sometimes positive as you can keep an eye on it.
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dp
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Post by dp on Jan 30, 2018 17:00:08 GMT
Hi - Any further updates regarding the legal's and repayment of these two loans? Cheers
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dp
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Post by dp on Jan 30, 2018 14:20:07 GMT
Nearly £1 Million (£966k) due to be repaid (presume) any day on BL00035 & BL00043. Plus interest run to hit in less than 48 hours....might get it over the line so long as repayments come through.
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dp
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Collateral (COL) in Liquidation
BB00606
Jan 9, 2018 10:00:41 GMT
Post by dp on Jan 9, 2018 10:00:41 GMT
Is there an update to this repayment please? Banking on the money being repaid and keen to understand if this is a coupe of days or longer repayment.
No pressure, just casual update if at all available - Cheers
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dp
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Post by dp on Jan 5, 2018 13:00:21 GMT
Submitting new plans would involve a fee and at the very least an 8/9 week turnaround, and that's if it all goes smoothly.
Separate issue here in Liverpool although probably affects others: as funding has been cut so has personnel working for the planning department. Planning departments are stretched and generally slow to response and miss suggested turnaround targets frequently, with little or no regard to the submitter. Which knocks on to client, developer, funder.....
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dp
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Post by dp on Jan 5, 2018 9:55:46 GMT
Hi Forward , All interest due is paid on the first of each month, so the accrued interest on this loan will be paid on the 1st of February. When loans are repaid, we pay the capital immediately then any interest due on the first of the following month. Many thanks, Gordon Look forward to the catch-up Interest on the 1st Feb.
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dp
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Post by dp on Dec 22, 2017 11:01:36 GMT
Similar, complete joke. If rules or timescales have changed then at least let your customers know.
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dp
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Post by dp on Dec 12, 2017 10:49:16 GMT
Cashback (just) paid today.
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dp
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Post by dp on Dec 1, 2017 12:57:44 GMT
Not sure the relevance or reasoning behind "Cashback for DFL004 - Tranche 11 will be credited later today"
Anyway - dipped a little toe in to this to aid the completion of the DFL. I will await my small CB bonus.
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dp
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Post by dp on Dec 1, 2017 10:53:11 GMT
Just about to suggest its always around 11am.......
Just checked and its started to flow in.
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dp
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Post by dp on Nov 24, 2017 14:38:40 GMT
I did have about one third of my holdings in this up for sale and it was about 90k back in the queue yesterday but it's just been bought out to my surprise. Why is so much of the original loan being bought when there's plenty of the cashback tranche still available? Maybe they filter / sort by 'Remaining Term' and just don't see the CB tranche. (The 'parent' DFL004 loan has +141 days and stands some distance ahead of anything else on the 'Available' page in this respect.) Echo that - just about to say the same.....
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dp
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Post by dp on Nov 16, 2017 16:13:26 GMT
The ground infill and 5 extra floors were meant to provide 63 units - so it's believable that infill plus 2 new floors would result in 33 Update 10/11/2017 - The borrower has advised that they are no longer going to consider building the additional 3 floors on the site and instead will concentrate on getting the build of the existing units completed as quickly as possible.
No extra floors, originally 5 extra, reduced to 3 and then to nil.
No one currently knows if the infill will take place.....
Original office is being converted to 52....They "Claim" to have exchange and completed contracts on 85 units. My point remains, where are the additional 33 units coming from.
*I am not in this loan*
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dp
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Post by dp on Nov 16, 2017 14:32:05 GMT
This loan needs clarification at best.
Initial description mentions 5 additional floors with ground floor infill. Total 115 Units.
Today - no additional floors, unclear about ground floor infill, but the development has exchanged or "sold" - Confirmed by solicitor on update 31/08/2017 - "borrower's solicitors which states they have exchanged contracts for the sale of 85 units and taken reservations for a further 22 units."
The original development to convert office to 52 units. The additional infill must be providing 33 additional units. Very hard to believe. Exchanged on 85 so they must be pulling 85 units out of the hat somehow?!
Just walked past the building today, and they are just assembling scaffolding to the front elevation. Building looks as derelict and the same as it did when the loan was first launched.
Would be interesting to know what Lendy Support head of lending views were when he attended site on 27/10/2017 and saw little or no progress at all.
4.6m used for purchase and 4 million for development. Would love to know what that 4million has been spent on. The IMS - Independent Monitoring Surveying report on this 4 millions development must be a barrel of laughs on a Friday down the pub with head of lendy.
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dp
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Post by dp on Nov 6, 2017 10:34:48 GMT
Thank you Gordon.
You are quite right. You learn something new everyday - I wasn't previously aware of the "Recent Updates" tab. Looks new as not available on any others (only looked at a few).
I also referenced back to your weekly "Existing Loan Update" Email - It is there right at the top. Hindsight I should read the whole email, I tend to jump straight to each loan and see its status (Renewal/Extension/Redeem).
Presume borrower will cover additional interest when it is repaid.
Thanks again.
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