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Post by Collateral Rep on Dec 18, 2017 6:53:34 GMT
Morning dan1, We have been working on a new look website for a while now and hope to launch the site sometime in the New Year. Many thanks, Gordon
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Post by Collateral Rep on Dec 15, 2017 16:05:16 GMT
Afternoon,
The following loans are set to redeem or renew/extend from the 18th of December to the 24th of December.
19/12/2017 BB00534 - Redeem
20/12/2017 BB00535 - Renewal for 3 Months
21/12/2017 BL00010 - 6 Month Extension
22/12/2017 BB00536 - Renewal 22/12/2017 BB00537 - Redeem
Loans that are to be renewed will be listed from 9am with all redemptions for that day before 9am. This may change, but will let you know if it does.
Please remember if you wish to keep your investment in any of the loans which are to be renewed, make sure you have ticked Renew Investment in "My Loans".
Note that this is the current indication from the borrowers but is of course subject to change.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 15, 2017 12:13:51 GMT
Hi,
Should be correct now.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 15, 2017 12:13:29 GMT
Hi,
Should be correct now.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 15, 2017 12:00:53 GMT
Hi hantsowl, Yes, we're looking into this. Many thanks, Gordon
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Post by Collateral Rep on Dec 15, 2017 11:40:42 GMT
Hi n, We are looking into this. Many thanks, Gordon
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Post by Collateral Rep on Dec 15, 2017 11:08:19 GMT
Morning,
We have three new loans which are in Available Loans now.
1) Property Development Loan Interest P/A - 14% Loan value of £60,095 (GDV value £11,845,000) LTV - 60% Loan Term - 6 months
2) Property Development Loan Interest P/A - 14% Loan value of £49,006.40 (GDV value £7,735,000) LTV - 70% Loan Term - 6 months
3) Property Development Loan Interest P/A - 13% Loan value of £70,598 (GDV value £5,950,000) LTV - 70% Loan Term - 6 months
You can see these loan in Available Loans.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 13, 2017 10:02:36 GMT
Morning,
UPDATE RE: BL00078-1-2-3-4
We have withdrawn the offer of funding on BL00078-1/2/3/4 – Development Site at H********* Road, Blackburn.
This is following discussions with our legal team who advised that the vendors solicitors couldn’t provide the requisite searches in time for the borrowers to exchange and complete on the loan. The vendors solicitors requested that we rely on our own search insurance in respect of any search requirements, our legals required our usual processes to be followed as they have to issue a report on title to Collateral.
We have advised the vendors legals that we would not proceed on a development site without searches or the usual due diligence and have therefore withdrawn our offer.
We have kept the borrowers in the loop at all times and they agree with our decision and will focus all their efforts in 2018 on the other development sites they have with us.
All lenders will receive full interest payments for the time that they have held loan parts.
Apologies for any inconvenience this may cause but our priority is to ensure that we have the best interests of our lenders at all times.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 13, 2017 9:29:23 GMT
Morning,
There is a new Bolton Development loan (split into 4 parts) being added to the platform. This loan is offering interest at a rate of 15%.
We have added several new images showing the progress of the development to the loan listings.
1-4) Bolton Development Loan - (4 loan parts) Interest P/A - 15% Loan value of £333,300 (4 x £83,325) with a valuation £8,515,000 LTV - 69%. Loan Term - 3 months Bid Limit - None
You will see these loans in Available Loans - these loans offer interest at a rate of 15% per annum.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 11, 2017 12:55:47 GMT
Afternoon,
The following loans have drawn down this afternoon, so all cashback due to investors will be credited to their account tomorrow morning.
BL00074-1 BL00075-2 BL00076-3 BL00077-4
As always, thanks for all your support in funding this loan.
Gordon
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Post by Collateral Rep on Dec 8, 2017 14:16:33 GMT
Hi westcountry, The borrower has owned the land for a number of years and is looking to refinance. Many thanks, Gordon
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Post by Collateral Rep on Dec 8, 2017 12:54:52 GMT
Afternoon,
UPDATE RE: BL00079-1-2-3-4
The borrower has agreed terms with the receivers for us to take first charge on the land and are also in advanced talks with Travelodge who have issued Heads of Terms.
They have also been approached by a Student Property Development company who are interested in building student accommodation on the site due to it's close proximity to the University of Derby, Chesterfield Campus.
Following further discussion with the borrower they have agreed to raise the interest rate to 15% for investors. This rate will be applied to all loan parts previously bought.
The Cashback Incentives remain the same.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 8, 2017 6:53:58 GMT
Morning,
The following loans are set to redeem or renew/extend from the 11th of December to the 17th of December.
15/12/2017 BB00533 - Renewal
16/12/2017 BL00036 - Redeeming this month
16/12/2017 BL00037 - Redeeming this month 16/12/2017 BL00038 - Redeeming this month 16/12/2017 BL00040 - Redeeming this month
Regarding the 4 Barnsley loans above. All the flats have been sold and contracts have exchanged and we expect all 4 loans to complete and repay this month.
Loans that are to be renewed will be listed from 9am with all redemptions for that day before 9am. This may change, but will let you know if it does.
Please remember if you wish to keep your investment in any of the loans which are to be renewed, make sure you have ticked Renew Investment in "My Loans".
Note that this is the current indication from the borrowers but is of course subject to change.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 7, 2017 8:29:04 GMT
Morning,
We're not experiencing any issues at our end.
Many thanks,
Gordon
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Post by Collateral Rep on Dec 5, 2017 15:36:30 GMT
Hi @new2p2p,
That should be fixed now.
Many thanks,
Gordon
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