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Post by Collateral Rep on Jan 15, 2018 13:49:53 GMT
Hi ingwer, We are looking at other options, however there will be a cut off point if the loans don't fill. We're monitoring them closely and will make a decision on both of these by the end of the week. Many thanks, Gordon
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Post by Collateral Rep on Jan 15, 2018 13:01:42 GMT
Hi ingwer, Currently we rely solely on investor funding whereas other platforms may have institutional/wholesale funding lines. This may be something we have to look at ourselves in the future. Many thanks, Gordon
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Post by Collateral Rep on Jan 12, 2018 8:46:25 GMT
Morning,
The following loans are set to redeem or renew/extend from the 15th of January to the 21st of January.
18/01/2018 BB00560 - Renewal
19/01/2018 BL00018 - one month extension, unit sales expected Jan/Feb
19/01/2018 BB00561 - Renewal
20/01/2018 BB00562 - Renewal 20/01/2018 BB00654 - Renewal 20/01/2018 BB00655 - Renewal 20/01/2018 BB00656 - Renewal
21/01/2018 BL00047 - one month extension, unit sales expected Jan/Feb
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 11, 2018 12:01:03 GMT
Hi shyinvestor, I've updated the loan now. This loan is expected to be repaid in January with a sale agreed and in legals. Many thanks, Gordon
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Post by Collateral Rep on Jan 11, 2018 11:35:29 GMT
Morning guff, Our in-house QS visits all our property and development loans. Many thanks, Gordon
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Post by Collateral Rep on Jan 11, 2018 11:11:15 GMT
Morning @bobo,
We are in constant communication with our borrowers and have just updated three loans that are in minus days.
As mentioned in an earlier post, we are trying to build relationships with investors and borrowers and if we need to give a little grace, as long as we are happy with the explanations, we will work with the borrower.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 11, 2018 10:41:32 GMT
Morning ingwer blueninja, We met with the borrower yesterday and the sale has been agreed and is progressing through legals and is expected to be completed by the end of the month. Capital is paid immediately and the accumulated interest will be paid on the 1st of the month. Many thanks, Gordon
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Post by Collateral Rep on Jan 11, 2018 9:50:36 GMT
Morning,
This loan has now been repaid.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 10, 2018 18:11:14 GMT
Hi cooling_dude, Yes any development loans will rank behind the bridge loan. Many thanks, Gordon
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Post by Collateral Rep on Jan 10, 2018 16:53:50 GMT
Afternoon,
This loan has now been repaid.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 10, 2018 16:42:06 GMT
Afternoon,
We have a new loan available now. This loan is offering interest at a rate of 12%.
As before we appreciate liquidity maybe an issue. So we have decided to reduce the loan amounts and split into 4 parts, which we hope will also help the Secondary Market.
1-4) Property Development Loan (4 loan parts) Interest P/A - 12% Loan value of - £1,220,000 (4 x £305,000) (value £2,880,000) LTV - 42.36% Loan Term - 12 months
You can see these loans in Available Loans now - these loans are offering interest at a rate of 12% per annum.
Many thanks,
Gordon
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Post by Collateral Rep on Jan 10, 2018 10:01:36 GMT
Morning cooling_dude, The borrower is B******y P********s L*****d The seller was N**y C**k L*****d (previous name E*******e D*****s L*****d) The legal charges are against units 4.09, 4.12, 4.20, 4.24, 4.26, 4.27, 5.05, 5.07,5.10, 5.12, 5.24 AND 5.25 at A******n P***t, B******d A debenture has been registered against the borrowing Company on Companies House. Many thanks, Gordon
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Post by Collateral Rep on Jan 10, 2018 9:32:19 GMT
Morning zendog, This will now be repaid today. Many thanks, Gordon
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Post by Collateral Rep on Jan 9, 2018 10:51:44 GMT
Hi ingwer, We have been in regular contact with the borrower and are expecting payment for the extension shortly. As for penalties, as long as we're in constant contact with the borrower and are satisfied with explanations etc. we would rather have a good working relationship and give a little grace. Many thanks, Gordon
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Post by Collateral Rep on Jan 9, 2018 10:17:10 GMT
Morning dp, We're expecting payment today. As soon as it arrive all investors will be repaid. Many thanks, Gordon
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