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Post by gramsky on Jan 24, 2020 10:48:11 GMT
I am invested in 33 Relendex loans consisting of 26 projects.
12 are marked either 'Loan Expires Soon' or 'Not Eligible', 3 of which are now repaying.
This leaves 9 that are not available to sell on the 'Resale Market' so we must wait for final repayment.
Most of the these loans have been extended.
Is anyone else becoming concerned about this?
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Post by uksoul on Jan 24, 2020 16:24:46 GMT
I am invested in 33 Relendex loans consisting of 26 projects. 12 are marked either 'Loan Expires Soon' or 'Not Eligible', 3 of which are now repaying. This leaves 9 that are not available to sell on the 'Resale Market' so we must wait for final repayment. Most of the these loans have been extended. Is anyone else becoming concerned about this? Having contacted Relendex last year i now understand It is normal for loans to be extended for various reasons most of which are perfectly normal, waiting for a sale to go though, delay in works etc. The loan expiry date given by Relendex is not a fixed date but an expected date of loan repayment. I have had some loans repay earlier than expected. I do not expect a loan to be repaid on the date given. I have a similar number of loans to you. With other platforms i use, loan extensions are the norm too. A rule i now go by is, expect the loan to be repaid 6mths later than the initial loan expiry date.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Jan 28, 2020 11:36:23 GMT
I have an exposure to 102 loans, over 22 projects. I was also concerned when repayment dates started to get deferred, and particularly as Relendex were less than brilliant in communicating what was going on.
I think Relendex have upped their game in terms of communicating, and there is now a pretty regular stream of updates on the loans so you can get either warning of probable deferments or at least an explanation of what is going on. They can still do better, and I would much prefer a regular (monthly) update- even if it is just an "everything fine" than relying on the spasmodic updates we currently get- but it is better than the past.
It is clear that the original redemption date should be taken as a "earliest possible if everything goes to plan (and you shouldn't assume it will go to plan)" date. So my advice to anyone investing in Relendex is to factor in an unspecified period of delay- don't invest money you need for a specific purpose.
What has been encouraging, as well as the more frequent updates, has been the apparent tenacity of Relendex to make sure they fully collect on loans even if late. Despite exposure to some problem loans (such as Manchester, Waterloo and particularly Evesham) the updates on these have given me confidence that I will get full redemption- though will have to be patient!
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Post by uksoul on Jan 28, 2020 21:17:55 GMT
Yes, Relendex has upped their communication game regarding loan updates. I'm also in the Waterloo Loan which is the only prob loan I have. The penalty interest makes up for the wait though. Relendex is good at chasing up loans in default. As they say 'our interests are aligned".
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