littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jan 11, 2018 18:47:15 GMT
A property in Surrey for £116K? Maybe shortish lease?
And why wouldn't the putative developer buy it directly himself?
Edit: I missed the fact that it was a second charge, as pointed out by Filip below.
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Post by Deleted on Jan 12, 2018 10:05:53 GMT
A property in Surrey for £116K? Maybe shortish lease? And why wouldn't the putative developer buy it directly himself? Hi Pinoccio, The value of the Surrey property is around £600k - the first charge lender (same as on some other platform loans - details will be disclosed if the loan goes live) would be looking to provide around £363k whilst the second charge would be made available to platform investors. Regards, Filip
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Post by Deleted on Jan 15, 2018 12:49:19 GMT
Hi all,
We intended to launch the second charge bridging loan (Surrey) 11am tomorrow provided that there are no unexpected issues. As stated previously, the target completion date is 22 January (next Monday).
Regards,
Filip
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Post by Deleted on Jan 19, 2018 11:25:53 GMT
Hi all,
Please find the following update regarding next loans that could be made available for investment in the next week (subject to assessment and other). All details are preliminary and subject to change:
First and second charge bridging loan – Birmingham area
• Security property: an industrial unit and a residential property
• Loan amount: around £200k
• Gross LTV: around 65.0%
• Annual rate: 12.0%
• Term: 6 months
• Interest retained throughout loan term
• Purpose of loan: refinance existing bridging loan
• Status: legals ongoing and final valuation reports have been received
• Target completion date: week beginning 29 January 2018 (previously week beginning 22 January)
Second charge bridging loan – Essex
• Security property: HMO
• Loan amount: up to £64k
• Gross LTV: around 76.0%
• Annual rate: 16.3%
• Term: 12 months
• Interest retained throughout loan term
• Purpose of loan: business purposes
• Status: legals ongoing and final valuation report has been received
• Target completion date: week beginning 29 January 2018
Regards,
Filip
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Post by Deleted on Jan 24, 2018 10:53:49 GMT
Hi all,
The loan "First and second charge bridging loan – Birmingham area" is scheduled to go live Friday this week at 11am, provided that there are no unexpected issues.
Regards,
Filip
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tarq
Member of DD Central
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Post by tarq on Jan 29, 2018 9:26:39 GMT
Hi Filip, any news on when/if the Essex loan will be going live?
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Post by Deleted on Jan 29, 2018 15:19:10 GMT
Hi Filip, any news on when/if the Essex loan will be going live? Hi tarq, I will provide an update in the next couple of days as we are awaiting confirmation from the solicitors acting on behalf of investors. Regards, Filip
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Post by Deleted on Feb 1, 2018 11:44:39 GMT
Hi Filip, any news on when/if the Essex loan will be going live? Hi tarq, I will provide an update in the next couple of days as we are awaiting confirmation from the solicitors acting on behalf of investors. Regards, Filip Hi tarq, The Essex loan is not likely to go live this week (if at all) due to delays with legals. However, we are likely making another loan available for investment 11am tomorrow (all details are preliminary and subject to change): Bridging Loan - Loxley Road (Stratford-Upon-Avon)- Second charge bridging loan secured over a residential property (to be redeveloped by the borrower - planning has been obtained)
- Loan amount: around £66k
- Gross LTV around 80.0%
- Annual rate: 19.0%
- Term: 6 months
- Interest retained for three months and serviced thereafter
- Loan purpose: refinance a bridging loan
- Exit strategy: development finance from the proposed first charge lender or from another lender
- Status: legals ongoing and final valuation report has been received
- Target completion date: 2 February 2018
Regards,
Filip
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rs
Member of DD Central
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Post by rs on Feb 9, 2018 9:26:38 GMT
Hi Filip Any idea when the next loan might go live?
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Post by Deleted on Feb 9, 2018 10:19:47 GMT
Hi Filip Any idea when the next loan might go live? Hi rs, We could make up to two loans available for investment next week - awaiting until the legal process is nearly completed prior to listing any of them to minimise the probability of delisting (which will unfortunately be announced shortly in relation to another loan). The next loan will be listed according to the new listing process where investors can review the listing 24 hours prior to opening it for investments. Regards, Filip
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rs
Member of DD Central
Posts: 467
Likes: 254
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Post by rs on Feb 9, 2018 10:36:22 GMT
Thankyou Filip
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rs
Member of DD Central
Posts: 467
Likes: 254
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Post by rs on Feb 16, 2018 14:55:35 GMT
Hi Filip Any idea when the next loan might go live? Hi rs, We could make up to two loans available for investment next week - awaiting until the legal process is nearly completed prior to listing any of them to minimise the probability of delisting (which will unfortunately be announced shortly in relation to another loan). The next loan will be listed according to the new listing process where investors can review the listing 24 hours prior to opening it for investments. Regards, Filip
Hi Filip
Any idea when the next loan might go live?
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Post by Deleted on Feb 19, 2018 7:02:12 GMT
Hi rs, We could make up to two loans available for investment next week - awaiting until the legal process is nearly completed prior to listing any of them to minimise the probability of delisting (which will unfortunately be announced shortly in relation to another loan). The next loan will be listed according to the new listing process where investors can review the listing 24 hours prior to opening it for investments. Regards, Filip
Hi Filip
Any idea when the next loan might go live?
Hi rs, We could make the Essex bridging loan available for investment later this week (subject to satisfactory assessment and other), have 2 other loans in legals, and I will provide some further updates this week. Regards, Filip
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rs
Member of DD Central
Posts: 467
Likes: 254
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Post by rs on Feb 19, 2018 8:44:52 GMT
Thanks Filip
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Post by Deleted on Feb 23, 2018 9:32:55 GMT
Hi all,
Just a quick update that we will make the Essex bridging loan (mentioned in earlier threads) available for review on the platform next Monday and will open it for investment the day after.
We are also targeting to make another loan available (for review and investment the day after) next Wednesday.
In total, two loans should go live next week unless there are any unforeseen issues.
I wish everyone a good weekend.
Regards,
Filip
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