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Post by Collateral Rep on Jan 24, 2018 9:54:29 GMT
Morning,
We have a new Bolton Development loan available now. This loan is offering interest at a rate of 15%.
This loan listing includes the latest QS Report.
1) Property Development Loan Interest P/A - 15% Loan value of £47,100 (GDV value £8,515,000) LTV - 69% Loan Term - 3 months (end date 30th April 2018)
You can see this loan in Available Loans now - this loan is offering interest at a rate of 15% per annum.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 23, 2018 14:38:15 GMT
Hi @magenta14,
We should have the QS report in the next couple of days which we will add to the loan details for investors to see. The project is progressing well and is on schedule.
There will be further development funding required to finish the project which will be offered to our investors.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 23, 2018 11:00:16 GMT
Hi hoy, The new lender needs a Deed of Priority signed, then the funds will be released. Many thanks, Gordon
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Post by Collateral Rep on Jan 23, 2018 9:59:48 GMT
Hi mrclondon , This was a loan that was made prior to the launch of the platform. With the expertise and experience of some of the team in property developments, it was suggested that the existing planning permissions could be increased. The owner of the site requested that we assist in the planning process and putting it out to tender. We contacted some of our contacts in the industry and they put together plans to increase the value of the site. It has increased from 8 apartments to 17 apartments and the value of the site has doubled because of this, which protects our interest and increases our security. We are not undertaking developments of our own, but have the knowledge and experience to complete any projects should we have to step in to do so. We work closely with all of our borrowers and assist them in increasing the value of the security where possible by introducing them to some of the contacts we have built up over many years of business. If any investor has any doubts about Collateral please feel free to contact us directly, where we will be more than happy to answer any questions. Many thanks, Gordon
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Post by Collateral Rep on Jan 23, 2018 9:51:26 GMT
Hi mrclondon, We have known the principles behind Racefields for a number of years. They asked if they could put some of our loans on their platform to attract interest. If any of these were taken up it provided us with an additional exit option for these loans. Many thanks, Gordon
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Post by Collateral Rep on Jan 23, 2018 9:50:10 GMT
Hi mrclondon , We have known the principles behind Racefields for a number of years. They asked if they could put some of our loans on their platform to attract interest. If any of these were taken up it provided us with an additional exit option for these loans. Many thanks, Gordon
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Post by Collateral Rep on Jan 19, 2018 11:30:57 GMT
Hi jcb208, We've been in regular contact with the borrower and have no concerns over payment for the extended period. The borrower is currently in the Middle East and has assured us that payment will be made in the next few of days. Many thanks, Gordon
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Post by Collateral Rep on Jan 19, 2018 10:38:39 GMT
Morning,
The following loans are set to redeem or renew/extend from the 22nd of January to the 28th of January.
25/01/2018 BB00660 - Renewal 25/01/2018 BB00566 - Renewal
27/01/2018 BB00664 - Renewal
27/01/2018 BB00569 - Renewal
27/01/2018 BB00570 - Renewal
27/01/2018 BB00571 - Renewal
27/01/2018 BB00572 - Renewal
27/01/2018 BB00573 - Renewal
Loans that are to be renewed will be listed from 9am with all redemptions for that day before 9am.
Note that this is the current indication from the borrowers but is of course subject to change.
Please remember if you wish to keep your investment in any of the none property loans which are to be renewed, make sure you have ticked Renew Investment in "My Loans".
Many thanks,
Gordon
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Post by Collateral Rep on Jan 18, 2018 17:11:56 GMT
Hi dan1, I'll see if this can be changed, but yes it should have been a DL reference. Many thanks, Gordon
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Post by Collateral Rep on Jan 18, 2018 17:10:15 GMT
Hi des, Our FCA application is still ongoing. Many thanks, Gordon
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Post by Collateral Rep on Jan 18, 2018 16:30:04 GMT
Hi ptr120, We are just waiting on cleared funds from legals, so today or tomorrow. Many thanks, Gordon
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Post by Collateral Rep on Jan 18, 2018 16:25:49 GMT
Afternoon,
The original loan BL00008 has been extended to bring it into line with the development loan.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 18, 2018 16:08:43 GMT
Afternoon,
We have one new loan available now. This loan is offering interest at a rate of 13%.
1) Property Development Loan Interest P/A - 13% Loan value of £17,500 (value £175,000) LTV - 70% Loan Term - 3 months Bid Limit - £500
You can see this loan in Available Loans now - this loan is offering interest at a rate of 13% per annum.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 18, 2018 10:54:19 GMT
Morning,
Re: BL00081 - O****** H***, R*****
After discussions with the borrower, we have decided to withdraw the offer of funding on O****** H***. We will revisit this once the borrower is in a better position with his loans with other lenders.
Apologies for any inconvenience this may cause.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 16, 2018 11:12:56 GMT
Hi hoy, The redemption statement has been requested. As soon as we receive cleared funds, investors will be repaid. Many thanks, Gordon
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