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Post by bobthebuilder on Oct 10, 2017 15:50:14 GMT
To be fair, it’s not clear how much weight lenders OUGHT to give a PG in this case when the guarantor resides in Monaco. Does he have assets in the UK that could be seized if the loan goes pear-shaped?
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Post by bobthebuilder on Oct 9, 2017 17:51:48 GMT
Am I missing something here? Rate to lenders is 13%, so cost to borrower, say, 16% (admittedly an assumption that may inflate MT’s profit margin). Loan amount £2,375,000 x 16% = £380,000 p.a. Projected rental income is £514K, but after utility bills, management costs, insurance and ongoing maintenance this is expected to fall to £400,446 p.a. (P25 of the valuation report). That doesn’t leave much of a margin for voids in a distinctly specialised target market for tenants and it’s stated that the licences are on a rolling one month basis, which doesn’t seem to provide much security of income. In the absence of serious reassurance I’m worried about debt serviceability on this loan.
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Post by bobthebuilder on Sept 30, 2017 14:21:52 GMT
End date for the Wigan loans is 31/8/18 but the last time the month had 30 days (June) interest was paid on 30/6. Can you confirm this was just an oversight please MoneyThing?
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Post by bobthebuilder on Sept 29, 2017 20:04:21 GMT
It is Assetz Capital’s understanding that cash back incentives should be treated as income under HMRC rules and we have included them in the Tax Statement. Lenders should take their own advice on this.
Anybody else agree with this?
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Post by bobthebuilder on Aug 22, 2017 11:41:54 GMT
No need to rush. As long as you keep paying interest, feel free to keep the money for at least another month. I have enough imminent maturities as it is
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Post by bobthebuilder on Aug 22, 2017 11:15:38 GMT
Surprised that after advertising a bid limit of £60 on today's extension, no bid limit was actually applied. Unfortunately I only had a spare £25 extra in my account to take advantage, but I notice that someone with more cash sloshing around than I have managed to snaffle the last £3126.
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Post by bobthebuilder on Aug 21, 2017 4:07:55 GMT
A question for all those receiving early repayments in the last few days - when you received your email from RS "Update on RateSetter intervention with borrowers" on 18 Jul, did it indicate that you were matched to these borrowers? Is there a link or am I reading too much into this? Can't be sure , but there may well be a link. I had early repayments in the 5 year market totalling more than £4K on Friday, and the e-mail I received on 18/7 included the words "Our records show that today (18th July) you are matched to a loan with one of these borrowers".
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Post by bobthebuilder on Aug 16, 2017 9:10:01 GMT
What's going on with the latest bling loan? The e-mail stated "Pre Fund - £50, Bid Limit - £25 (total £75)", but having prefunded £50 yesterday evening I'm now prevented from investing a further £25 as I get the message "There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired." £25 is inclusive of pre fund. Caught me out too. But the e-mail specifically says "total £75"
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Post by bobthebuilder on Aug 16, 2017 9:06:26 GMT
What's going on with the latest bling loan? The e-mail stated "Pre Fund - £50, Bid Limit - £25 (total £75)", but having prefunded £50 yesterday evening I'm now prevented from investing a further £25 as I get the message "There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired."
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Post by bobthebuilder on Aug 1, 2017 8:39:45 GMT
I quote from the COL web - Looks like this didn't happen today.
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Post by bobthebuilder on Jul 25, 2017 10:26:14 GMT
Holy Batman, someone just lumped £45k of (MTAV714) Residential Development in Liverpool at 13% on the SM. I like this loan alot You wouldn't be the seller by any chance would you?
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ArchOver
Archover
Jul 20, 2017 7:12:53 GMT
Post by bobthebuilder on Jul 20, 2017 7:12:53 GMT
If you decide to go down the FSCS-protected fixed deposit route, you can definitely do better than 1.5% at the moment. Both Al Rayan and BLME are paying 2.0% on one year funds, although not everyone is comfortable with Islamic banks.
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Post by bobthebuilder on Jul 7, 2017 11:12:10 GMT
MTAI577 pays interest on the 9th because the original end date was 9/11/17. There is a revised end date of 7/11/17, so the final interest (and capital) repayment date will be 7/11/17.
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Post by bobthebuilder on Jul 5, 2017 7:56:34 GMT
I don't think it should come as a surprise that AC's figures have jumped. They were obviously anticipating a substantial pipeline of new loans when they offered a short-term increase in the rate paid on 30 day access money, and they have recently announced a doubling of the maximum that can be invested directly in the QAA.
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Post by bobthebuilder on Jun 30, 2017 9:29:56 GMT
Collateral Rep This seems to have become an issue again. On this morning's bling renewals user D********p somehow managed to acquire loan parts in all of BB538, 539 and 540 and I do not see how that is humanly possible given how long the three loans were available in total. Could you investigate please? bobthebuilder - at the risk of releasing part of my identity, that was me - I acquired the final £13.53 in 540. I'm not using a bot, and I'm using an old laptop. All I can say is that it is possible but I was surprised that all three succeeded, given that 90% of the time I'm not successful on all that I try and purchase. Well, apologies for doubting your humanity! My own approach was to ignore BB538 completely as there was no way I was going to be one of only three successful bidders, and to focus on BB540 and BB539 in that order, hoping that there would still be some BB539 left after I had bid for BB540. I don't think I have the slowest fingers in the world, but I never got beyond BB540. The effort we have to make to invest £25 these days if we want to avoid property
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