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Post by peterst on Apr 6, 2018 8:18:39 GMT
The Ashton commercial property has appeared on the Auctioneer's website at a guide price of £325,000; less than half the price mentioned in the last update from Relendex. The rentals quoted for the various units only total some £29,000, way below the £79,000 most recently advised.
I emailed lender support some 10 days ago, asking if there was further news, but have received no response.
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mrsb
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Post by mrsb on Apr 6, 2018 12:55:31 GMT
Interesting to see how that goes. RM says EPC=G which is somewhat MEES unfriendly.
£125K guide price on the semi ... so it ought to make the £160K valuation with a following wind.
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Post by pennyrelendex on Apr 10, 2018 8:07:24 GMT
Hi All,
Relendex has a duty of care to its lenders. Please be assured that Relendex is always acting in your best interests.
A note from Michael Lynn:
As previously advised, the auction sale of both the Ashton commercial freehold and the Liverpool residential property is set for 17th April. Guide prices are set in order to attract as many bidders as possible. We will be writing to lenders in more detail after the auction.
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mrsb
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Post by mrsb on Apr 17, 2018 15:44:29 GMT
Does anyone know how the auction went today?
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Post by peterst on Apr 17, 2018 16:58:44 GMT
Neither property sold at auction. There was a bid of £315k, which was not accepted, for the Ashton Commercial Property, whilst the semi detached house drew no interest at all, even when the auctioneer went down to £90k.
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mrsb
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Post by mrsb on Apr 17, 2018 17:11:41 GMT
Thanks, A bit grim. I never did like shops, surprised the house didn't attract somit ... 5% yield = £144K
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Post by pennyrelendex on Apr 18, 2018 7:56:20 GMT
Morning All,
A detailed update will be sent out to all GM lenders shortly, Michael Lynn is available from 10am-11am this morning if anyone would like a an update from him personally.
Please DM me your preferred contact and I'll ensure this is passed to Michael.
- Penny
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Post by p2psavvy on Aug 8, 2018 14:10:47 GMT
Today I checked my loan status regarding this defaulted loan and discovered that the previously accrued £192.92 interest (of last Friday) has now become accrued interest of 71p! The loan expiry date has now been changed to 15/08/2018. It was originally due to expire 10/02/2018. The £192.92 was completely wrong anyway as this loan is supposed to be accruing default interest at the rate of 13.125% from 10/11/2017 not the original 10.50%.
What is going on with this loan? I did complete a Relendex on-line request form 13/07/2018 asking for an update but Relendex did not answer it. In fact, every request for information I have ever made of Relendex, other than here, have always not been answered.
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james21
Member of DD Central
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Post by james21 on Aug 8, 2018 14:34:26 GMT
I dont know what is going on with this loan as am not in it, Relendex send updates only to lenders in a particular loan. Speaking for my own experiences the one or two queries I have had have been answered promptly. I asked them by email. As I say not much experience to go, would be interested how you go on with this one
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Post by peterst on Aug 8, 2018 15:37:23 GMT
Today I checked my loan status regarding this defaulted loan and discovered that the previously accrued £192.92 interest (of last Friday) has now become accrued interest of 71p! The loan expiry date has now been changed to 15/08/2018. It was originally due to expire 10/02/2018. The £192.92 was completely wrong anyway as this loan is supposed to be accruing default interest at the rate of 13.125% from 10/11/2017 not the original 10.50%. What is going on with this loan? I did complete a Relendex on-line request form 13/07/2018 asking for an update but Relendex did not answer it. In fact, every request for information I have ever made of Relendex, other than here, have always not been answered. Mine is the same. I think the displayed interest is reset to zero each time the expiry date is adjusted. The last email to lenders I received was on the 23rd July and there were a couple before that. The minor part of the security has been sold with completion expected in about a week's time.
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Post by p2psavvy on Aug 9, 2018 7:35:53 GMT
I tried the support email, when asked to by the Relendex rep on this site (earlier in this thread). Even then got no reply.
Do you know what, if any, interest will be paid on this loan and what is happening with the remaining security?
Unlike other P2P sites, it seems impossible to know which loans are in default with Relendex. They provide no performance stats and even this loan cannot be distinguished from any other live or completed loan on the site.
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mrsb
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Post by mrsb on Aug 9, 2018 7:44:37 GMT
I think that the relendex rep needs to come here quick, and explain what is going on.
As well as this loan, I’m aware of at least two others that are not going to plan, and interest accruing after the planned loan expiry date is not building up correctly.
Poor communication is becoming the hallmark of Relendex, and it’s starting to go-off and smell somewhat.
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Nomad
Member of DD Central
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Post by Nomad on Aug 9, 2018 10:28:20 GMT
I think that the relendex rep needs to come here quick, and explain what is going on. As well as this loan, I’m aware of at least two others that are not going to plan, and interest accruing after the planned loan expiry date is not building up correctly. Poor communication is becoming the hallmark of Relendex, and it’s starting to go-off and smell somewhat. There is far more on the Relendex SM than is usually the case...
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mrsb
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Post by mrsb on Aug 15, 2018 15:44:17 GMT
... and the recent loans appear (to me at least) to be taking longer to fill.
Having two loans (AFAIK) not go to plan, and GMBL go tit's-up must be taking it's toll on lender sentiment.
To comment, or say nothing is always a dilemma; but I think Relendex are making a mistake by opting for silence.
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hantsowl
Member of DD Central
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Post by hantsowl on Aug 15, 2018 18:16:12 GMT
... and the recent loans appear (to me at least) to be taking longer to fill. Having two loans (AFAIK) not go to plan, and GMBL go tit's-up must be taking it's toll on lender sentiment. To comment, or say nothing is always a dilemma; but I think Relendex are making a mistake by opting for silence. Which are the loans not going to plan?
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