rscal
Posts: 985
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Post by rscal on Apr 3, 2019 12:55:11 GMT
New upcoming loan 9pc (#985) to extend existing loan 9pc (#816) @ 3.2m with 8 months remaining to 3.8m for 10 months for increased GDV - underwriting is called for.
Is it safe to assume that by investing in the new loan prior to drawdown one's current holding will be repaid almost immediately?
Thnx
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cb25
Posts: 3,528 
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Post by cb25 on Apr 3, 2019 13:00:35 GMT
New upcoming loan 9pc (#985) to extend existing loan 9pc (#816) @ 3.2m with 8 months remaining to 3.8m for 10 months for increased GDV - underwriting is called for.
Is it safe to assume that by investing in the new loan prior to drawdown one's current holding will be repaid almost immediately?
Thnx
Credit report for #985 suggests that is the case "1.2 The loan is to be utilised to refinance an existing Assetz Capital facility which has a current exposure of £3,228,781.03,..."
"3.3 The Day 1 advance will be £3,759,412.33 comprising £3,228,781.03 to repay the existing facility,..."
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Apr 3, 2019 14:05:35 GMT
New upcoming loan 9pc (#985) to extend existing loan 9pc (#816) @ 3.2m with 8 months remaining to 3.8m for 10 months for increased GDV - underwriting is called for.
Is it safe to assume that by investing in the new loan prior to drawdown one's current holding will be repaid almost immediately?
Thnx
Generally yes, certainly happened with #970 (50min), #969 (12min) but #967 took 7 hrs for prior loan to repay & I seem to recall at least one occassion when full repayment took more than a day.
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rscal
Posts: 985
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Post by rscal on Apr 5, 2019 18:55:49 GMT
Update: On this occasion it turns out the loan was refinanced at 19:36 on 5 april and the existing loan balance repaid at 19:38 with 3 days interest. Discount was 1% - which is the least percentage available.
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