ali
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Post by ali on Mar 16, 2018 19:57:59 GMT
No thanks. I can't tell you how much time and effort I have put in coping with the truly awful transaction history they produce. If I had know when I started with them what I know now, I would never have used them. To be fair, the new system is a considerable improvement. I haven't yet found out whether I still need to track bid principals and margins to work out what a transaction record means. Here's hoping not. Shudder. Just use the tax statement It's great if the tax statement meets your requirements. However it doesn't meet all mine (or I would use it; I'm not that stupid).
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ali
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Post by ali on Mar 16, 2018 18:43:00 GMT
Everyone should just copy ABLrate. They have all the good ideas No thanks. I can't tell you how much time and effort I have put in coping with the truly awful transaction history they produce. If I had know when I started with them what I know now, I would never have used them. To be fair, the new system is a considerable improvement. I haven't yet found out whether I still need to track bid principals and margins to work out what a transaction record means. Here's hoping not. Shudder.
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ali
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Post by ali on Mar 16, 2018 18:24:53 GMT
I'm trying to download my full transaction history by capturing each page but I'm getting a "500 - Internal server error" on page 6. I just wondered whether I was alone in this problem? The page I'm having problems with is: unbolted.com/uk/lenders/balance/?page=6Note that you'll need more than 250 transaction before you require a sixth page. No problem with my page 6 (and I downloaded all 15 pages of my history this morning). Presumably there is something on page 6 of your transactions that is causing the server to fall over.
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ali
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Post by ali on Mar 16, 2018 17:01:46 GMT
10% for a 60% LTV residential property is competitive. Where can you get better? Property Loan - Shrewsbury would seem to fit the bill. First charge, too!
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ali
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Post by ali on Mar 14, 2018 21:11:15 GMT
I thought the actual loans were held in a separate company not in administration so the administrator couldn't sell the loans. It was not their loan book to sell. More complicated than I thought. If you search the London Gazette for the obvious company name you should find the administration notice easily enough. That will tell you that three related companies were put into administration, including the company that holds the securities.
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ali
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Post by ali on Mar 13, 2018 7:49:48 GMT
The Administrators have applied for a court hearing in respect of this matter on 4 April 2018 at 10.30am. Thanks for the heads up. Do you know which court will be hearing the case?
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ali
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Post by ali on Mar 8, 2018 12:11:34 GMT
Has there been any response from MT about why there are three separate loans (all with the same end-date)? Most likely the borrower doesn't yet know when they might wish to repay any of them (early) so all are simply set to the full term of the facility, for now at least. Interesting. Yes, I can see how you could read it that way. Personally, I read it as the borrower has the facility to borrow £100,000 chunks as and when they wish. Each tranche will be for 24 months and there is a limit on the total facility available. Thus the initial requirement is for £300,000 until Mar 2020 and the next tranche might be requested in eg., May and run until May 2020. I wonder who's right?
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ali
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Post by ali on Mar 8, 2018 11:42:06 GMT
Arguably there is a general loss of appetite for development loans on all platforms at the moment (for good reasons given there are many outstanding). Your point should be considered by Moneything, there is a serious danger of merely delaying the inevitable. I do feel it is unfortunate for this loan, in truth refinancing in the current market would be an unenviable task, Lenders however should protect their own interests first. That's certainly true. It's pretty clear that there's also a lack of funds available this tax year and that things will ease up somewhat after Apr 6th. Whether that will be enough to cover the remainder of this development is unknown. Personally, I invested in the first tranche to the level I was comfortable with and the cash back on offer for this loan hasn't been enough to tempt me to exceed that (it has on some other loans).
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ali
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Post by ali on Mar 3, 2018 12:39:30 GMT
One question that may need posed by the administrator, given that most people in the latest tranches will also have considerable amounts in the earlier tranches, if the company is being actively run, is whether investors would be agreeable to that money being drawndown to help complete the project, which may be able to pay back in a matter of months. I don't think he can, can he? COL isn't regulated by the FCA and so can't engage in regulated activities. I presume that includes writing new loans, including new tranches of existing loans. I'm only speculating however, clarification by somebody who knows the law would be helpful.
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ali
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Post by ali on Mar 2, 2018 13:07:00 GMT
Hi, 100k not from underwriter; just private investor In that case, thanks for pushing it so close to the line
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ali
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Post by ali on Feb 1, 2018 18:21:59 GMT
Make no mistake, the introduction of variable pricing would affect everyone, whether they don't like/understand/want it or not. I agree, but I’d really question whether the effect would be negative. Yes, we get this. But continually asking the same question because you don't like the answer just insults the intelligence of those who disagree. I'm not expecting you to accept my position, but I do expect you to respect it.
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ali
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Post by ali on Feb 1, 2018 18:07:31 GMT
copacetic - the repayments were all of type Business Loan (not protected). I only know this because I take a copy of the Loan Portfolio page every few weeks. I process this in excel to produce sums for the different types of loans but it is a pain because of the multi-line format per loan. If you want to find a loan that has repaid then find it on the Historical Transaction Statement page. I would like to be able to download the Loan Portfolio and Historical Transaction Statement data to csv files. The reporting of active loans, repayments of capital and interest, and defaults is probably the weakest element of Unbolted. I really find UB hard to keep a track of sometimes.
I really wish they would make it easier to reconcile all of what has taken place on the account
Biggest item on my wishlist is to separate capital and interest on the transaction statement for a repayment. That would make my life so much easier.
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ali
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Post by ali on Feb 1, 2018 17:07:45 GMT
Now 11K left... No time to deposit funds... 76% LTV True enough. I went for it anyway on the basis that the security is 16 watches. Firstly, these high end watches are easier to value than some other things (eg., property) and secondly, with 16 it's likely any over-valuation of one will be offset by an under-valuation of another. Of course, I'm still vulnerable to the market for high end watches dropping overall. As long as the dealer keeps on top of repayments, I'll be happy.
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ali
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Post by ali on Jan 31, 2018 17:09:24 GMT
Pretty startling oversight if the valuation says it's a freehold property but is actually leasehold. The valuation says that it is assumed to be freehold. Perhaps MT should have got back to them and said, "Actually, it's leasehold, does that affect the value?" Perhaps they did.
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ali
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Post by ali on Jan 31, 2018 16:20:05 GMT
The assets sold only talks about the Breitling Avenger so presumably the Colt has yet to be sold and should cover the interest. Either that or Unbolted are being sloppy in their reporting.
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