KoR_Wraith
Member of DD Central
Posts: 293 
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Post by KoR_Wraith on May 16, 2019 6:10:44 GMT
£130,000 car stocking loan at 70% LTV based on the retail value of stock. Pretty standard Huddle offering.
HOWEVER...
This loan offers additional security of a first legal charge over a residential property valued at £325,000, bringing the combined LTV down to 26%.
It appears an incredibly strong offer to me but 48 hours in and only 25% gone, what's not to like?
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IFISAcava
Member of DD Central
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Post by IFISAcava on May 16, 2019 6:51:33 GMT
£130,000 car stocking loan at 70% LTV based on the retail value of stock. Pretty standard Huddle offering. HOWEVER... This loan offers additional security of a first legal charge over a residential property valued at £325,000, bringing the combined LTV down to 26%. It appears an incredibly strong offer to me but 48 hours in and only 25% gone, what's not to like?lack of Huddle IFISA!
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ding
Member of DD Central
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Post by ding on May 18, 2019 12:49:21 GMT
£130,000 car stocking loan at 70% LTV based on the retail value of stock. Pretty standard Huddle offering. HOWEVER... This loan offers additional security of a first legal charge over a residential property valued at £325,000, bringing the combined LTV down to 26%. It appears an incredibly strong offer to me but 48 hours in and only 25% gone, what's not to like? "The Company seeks to raise £130,000 by way of a revolving credit facility in order to refinance an existing Huddle stocking facility. " Which is 1000071, 1 year loan with 3 months left. That loan pays us 12%. Perhaps the 24 months of the new loan gives the borrower more freedom, but with the catch of an increased rate of 14% (+ huddle x%). The 8 payments so far were all late - average of 2 days I would estimate.
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hazellend
Member of DD Central
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Post by hazellend on May 18, 2019 14:58:43 GMT
Looks good. I’m in for a unit
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iRobot
Member of DD Central
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Post by iRobot on May 18, 2019 16:36:48 GMT
"The Company seeks to raise £130,000 by way of a revolving credit facility in order to refinance an existing Huddle stocking facility. " Which is 1000071, 1 year loan with 3 months left. That loan pays us 12%. Perhaps the 24 months of the new loan gives the borrower more freedom, but with the catch of an increased rate of 14% (+ huddle x%). The 8 payments so far were all late - average of 2 days I would estimate. Not necessarily late from the borrower to Huddle though? Could it be that the platform was slow to pass the otherwise prompt payment by the borrower on to lenders?
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on May 31, 2019 19:13:00 GMT
Both this loan and the refrigeration loan have been withdrawn ☹️
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