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Post by peterst on Jun 19, 2021 11:46:29 GMT
There is another flat in the same block that has been for sale for some nine months (£530k for 3 bedrooms) and is now being marketed by five different agents.
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Post by peterst on Sept 30, 2020 12:52:40 GMT
If I remember correctly originally Assetz were going to repay lenders from their own funds (raising additional capital to do so), but then decided that as there was a surplus in the provisions funds which they were entitled to withdraw, they would use that instead.
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Post by peterst on Feb 12, 2020 9:06:25 GMT
I think Evesham (a mixed use redevelopment) and London Residential (an almost identical situation to Waterloo) were all put into receivership at about the same time. I only discovered at that stage that the same borrower was behind all three, thanks to the Relendex policy of keeping the borrowers' names anonymous. I dig a little more deeply nowadays and only invest if I can identify the borrower, which admittedly does not usually take more than a few minutes research.
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Post by peterst on Oct 27, 2018 10:12:10 GMT
I'm not in Stourport, but did receives emails about Halifax and Waterford, where drawdown has also been delayed. The emails did confirm that interest is accruing on the loans.
Nothing received so far on Clapham, nor on four others that are all shown as expiring next week.
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Post by peterst on Aug 30, 2018 9:14:23 GMT
Surprise surprise! Repayment date moved on a week again. Do Relendex actually have any idea when this will repay or are they just guessing, one week at a time? I think it is just moved forward steadily (currently shown as 5th September). Presumably they can't put "unknown" in a date column. At least the interest accrued, at 294 days, looks correct. The sale of the residential element of the security was supposed to complete on 16th August. It looks as if it hasn't happened yet.
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Post by peterst on Aug 14, 2018 12:52:23 GMT
I can't imagine any potential new operator would wish to pay a premium for the site, so cannot see any point in preserving the lease. Better the few pennies that may be netted from selling the turbine for parts go to the existing lenders, rather than paying the rent.
I would really like to know what happened to the loan proceeds, as many things that it was supposed to be used for never occurred. Rather naively I imagined that the loan worked in the same way as property development loans, i.e funds were paid out when a monitoring surveyor said a stage payment was due.
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Post by peterst on Aug 8, 2018 15:37:23 GMT
Today I checked my loan status regarding this defaulted loan and discovered that the previously accrued £192.92 interest (of last Friday) has now become accrued interest of 71p! The loan expiry date has now been changed to 15/08/2018. It was originally due to expire 10/02/2018. The £192.92 was completely wrong anyway as this loan is supposed to be accruing default interest at the rate of 13.125% from 10/11/2017 not the original 10.50%. What is going on with this loan? I did complete a Relendex on-line request form 13/07/2018 asking for an update but Relendex did not answer it. In fact, every request for information I have ever made of Relendex, other than here, have always not been answered. Mine is the same. I think the displayed interest is reset to zero each time the expiry date is adjusted. The last email to lenders I received was on the 23rd July and there were a couple before that. The minor part of the security has been sold with completion expected in about a week's time.
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Post by peterst on Apr 17, 2018 16:58:44 GMT
Neither property sold at auction. There was a bid of £315k, which was not accepted, for the Ashton Commercial Property, whilst the semi detached house drew no interest at all, even when the auctioneer went down to £90k.
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Post by peterst on Apr 6, 2018 8:18:39 GMT
The Ashton commercial property has appeared on the Auctioneer's website at a guide price of £325,000; less than half the price mentioned in the last update from Relendex. The rentals quoted for the various units only total some £29,000, way below the £79,000 most recently advised.
I emailed lender support some 10 days ago, asking if there was further news, but have received no response.
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