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Post by davidricketts1 on Oct 22, 2014 9:35:16 GMT
Hello
R***uth we are pursuing the borrower legally - no update unfortunately since that process started.
W***on S**** M*** - is dependent on the drawdown I'm afraid. RM is still confident this will progress but not on the timescales unfortunately.
Hope that helps. David
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Post by davidricketts1 on Oct 15, 2014 16:26:54 GMT
Can I vote?
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Post by davidricketts1 on Oct 9, 2014 16:18:16 GMT
Dear All
I've just put a further update up:
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Post by davidricketts1 on Oct 9, 2014 13:27:54 GMT
Dear All
I've just got back off the floor... And have put the following up on the website:
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Post by davidricketts1 on Oct 9, 2014 10:17:35 GMT
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Assetz Capital (AC)
L**DS C P
Oct 7, 2014 7:40:53 GMT
Post by davidricketts1 on Oct 7, 2014 7:40:53 GMT
Should be Ton. Given the buffer is surplus income they built up here rather than funds retained on drawdown. davidricketts1 may wish to rephrase the above, as it implies that loans where the interest is being paid from funds retained on drawdown aren't -- or shouldn't be -- trade-able on the Aftermarket. And that's clearly at odds with the most common AC practice for bridging loans. Fair point Mike. You're quite correct that this isn't the case and there is no issue with trading any loans on the aftermarket providing these are up to date.
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Assetz Capital (AC)
L**DS C P
Oct 6, 2014 15:07:36 GMT
Post by davidricketts1 on Oct 6, 2014 15:07:36 GMT
I've put some updates up regarding this loan this morning all.
Repayment has now been made from the interest buffer we have been building up whilst the borrower changes bank account details for the payment following the recent clients money update we've been through. Thanks for the update, Can I ask if this loan is trade-able on the AM, and I guess others are too, when they haven't made a payment but the buffer has paid if for them? Should be Ton. Given the buffer is surplus income they built up here rather than funds retained on drawdown.
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Post by davidricketts1 on Oct 2, 2014 8:52:32 GMT
I've put some updates up regarding this loan this morning all.
Repayment has now been made from the interest buffer we have been building up whilst the borrower changes bank account details for the payment following the recent clients money update we've been through.
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Post by davidricketts1 on Sept 23, 2014 9:42:19 GMT
Dear All
As you'll appreciate 2 weeks holiday generates rather a lot of work......
This is high on my "To Do" list but in the interim I've put a short holding update on the website - I'll be looking to provide fuller updates on all the outstanding loans by the end of this week but please bear with me while I get back up to speed.
Thanks
David
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Post by davidricketts1 on Sept 1, 2014 6:47:03 GMT
Could you PM Dominic with them please, as he's currently trying to get to the bottom of which emails have been missed / blocked. If you PM on here then that should definitely reach him. You won't as he's on holiday!
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Post by davidricketts1 on Aug 29, 2014 15:53:57 GMT
Should be fairly simple one that one but it isn't. Yes default interest will be accruing but I'm unsure how we'll be managing this yet if we're looking at doing a new loan. May be a case of setting a definitive date to drawdown (easier in this case as security is already held) and calculating interest to that date.
Something to consider over the weekend I think.
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Post by davidricketts1 on Aug 19, 2014 13:46:01 GMT
I'm a bit confused about the new LTV calculation. It's dropped from over 100% to 54%. The total security seems to add up to around £1.02m, which is 54% LTV. However, previously the stock was written down to 20%, the debtors to 50% and the property to 65%. With those writedowns I still get LTV close to 100%. What am I missing? Thanks Samford you've answered my question as to how I did the calculation previously (too much to do and memory not as good as it was previously).
Write downs previously don't give a true view of the LTV against the assets but they would assist in ensuring an appropriate level of asset cover for the purpose of covenant monitoring - the percentages you quote are those that we'll be using in the covenant test. Perhaps if I wasn't so busy I could have put an explanation up that covered why around 100% LTV here was deemed appropriate as I'd already written the asset values down.
I'm glad I'm not going daft as I spent quite a bit of time looking at the figures this morning trying to work out why I'd entered them.
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Post by davidricketts1 on Aug 19, 2014 13:23:59 GMT
Big change in ltv now at 54% with 0.5% cashback too I updated this today Ton.
Figures taken from the February balance sheet that is available on the documents section if you want to check it!
Not sure where the first figures were from (and I put them in so I should know.....)
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Post by davidricketts1 on Aug 13, 2014 11:59:50 GMT
You're both correct. We wouldn't release your security without full repayment.
And doing it that way does provide an incentive....
I'm not sure we're any the wiser as to whether a partial repayment will be received, or will shed purchases have to be postponed? Unfortunately B&Q (other DIY stores are available...) will be short a shed purchase until we get full repayment. No partial repayments given the residual debt would be unsecured.
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Post by davidricketts1 on Aug 13, 2014 10:54:10 GMT
Hope you had a great break, did you go to Spain or Portugal? Anyway... This question was asked about Redruth, France actually. David R is looking into this and will give me an answer soon.
See the Redruth thread all. List of original bidders retained and 3% for 4 weeks will be paid to them after drawdown.
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