blender
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Post by blender on Sept 29, 2020 18:55:04 GMT
"Any more for the Skylark? Departing very soon." Maybe they are reviewing the affect on the business of the chancellor's latest Covid support package, before deciding. Or I hope they are.
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criston
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Post by criston on Sept 30, 2020 13:18:48 GMT
Was with the borrower last night, we will be giving and update and likely drawing down shortly (within the next seven days) - you are still earning instant returns. 7 days up within a few hours. Is drawdown imminent ?
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macq
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Post by macq on Sept 30, 2020 15:20:04 GMT
Was with the borrower last night, we will be giving and update and likely drawing down shortly (within the next seven days) - you are still earning instant returns. 7 days up within a few hours. Is drawdown imminent ? Just asked my mate Boris who is good with days & hours and he said it could be yes or it might be no but he can definitely say its one or the other - maybe
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Post by Badly Drawn Stickman on Sept 30, 2020 15:45:04 GMT
7 days up within a few hours. Is drawdown imminent ? Just asked my mate Boris who is good with days & hours and he said it could be yes or it might be no but he can definitely say its one or the other - maybe Add in the 'likely' from the original post, and arguably they have responded too quickly. Well they would have if they had have sort of thing.
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Post by ladywhitenap on Oct 4, 2020 18:56:35 GMT
I can't recall an instance where instant returns were not paid even when the loan did not go ahead whether it be not filled enough or withdrawn for some reason.
LW
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blender
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Post by blender on Oct 5, 2020 11:57:17 GMT
I can't recall an instance where instant returns were not paid even when the loan did not go ahead whether it be not filled enough or withdrawn for some reason. LW That has never happened to my knowledge, even in the early days of the abortive plane financing - pre-containers. It would be a serious matter for the platform if it did happen, and I am not worrying about it at all. If lenders really need the income from the instant returns more quickly, then this is not the platform on which to lend.
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ptr120
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Post by ptr120 on Oct 16, 2020 10:26:38 GMT
ablrate I know that your hands are quite busy with a number of things at the moment, but it'd be great to have an update as to what is the plan for this loan. Given the extended period this loan is taking to draw down, there will be some who by now might be expecting to to be able to take a monthly income from this investment, but who still can't. There are also a number of related loans which are restricted to par as settlement figures have been requested (presumably, in some way connected to the drawdown of this loan). Perhaps if we had a bit more clarity the par restriction could be lifted on those loan, and some lenders may be encouraged to invest more in this loan.
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IFISAcava
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Post by IFISAcava on Oct 16, 2020 10:54:56 GMT
ablrate I know that your hands are quite busy with a number of things at the moment, but it'd be great to have an update as to what is the plan for this loan. Given the extended period this loan is taking to draw down, there will be some who by now might be expecting to to be able to take a monthly income from this investment, but who still can't. There are also a number of related loans which are restricted to par as settlement figures have been requested (presumably, in some way connected to the drawdown of this loan). Perhaps if we had a bit more clarity the par restriction could be lifted on those loan, and some lenders may be encouraged to invest more in this loan. there isn't a par restriction on these loans in the new ASMX - or at least there wasn't yesterday when I looked.
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ptr120
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Post by ptr120 on Oct 16, 2020 11:35:45 GMT
Interesting, that seems to have gone. However, other amortizing loans from the same borrower seem to have moved to interest only as of late September. I don't recall receiving an email alert of that one.
I don't have a problem with a short pause on capital repayments, but if that is required, can the borrower really afford to take on this substantial new debt?
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Post by Badly Drawn Stickman on Oct 16, 2020 11:42:37 GMT
Interesting, that seems to have gone. However, other amortizing loans from the same borrower seem to have moved to interest only as of late September. I don't recall receiving an email alert of that one. I don't have a problem with a short pause on capital repayments, but if that is required, can the borrower really afford to take on this substantial new debt? I assumed cash flow was the reason for not drawing the loan down, as currently it is just rolling up as a deduction from funds transferred as opposed to 'real' money.
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Post by otis71 on Oct 16, 2020 16:33:03 GMT
Spooky ... now we have an update from ABL. Loan drawdown expected on Monday with a new loan in the pipeline for next week.
I'm late to the party on this one but maybe I'll have a nibble at it now.
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criston
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Post by criston on Oct 18, 2020 10:07:13 GMT
Ablrate have previously advised that regardless of whether the loan is drawndown or not, the instant returns are paid by the borrower via a legally binding agreement when they list the loan. Interesting. If the loan draws down then I calculate approx. £33k in instant returns and £30k in platforms fees. These get subtracted from the sum advanced, but however you calculate it the proceeds will now exceed the £1m presumably required, while the sum is crawling up slowly and the borrower is incurring an extra £356 a day in IR without having the use of the funds. Perhaps they don't want it. I am looking for a card to send congratulations on reaching 6 months, on Thursday.
Not forgetting Ablrate will also be holding a 6 months interest reserve. £78k Bringing the Maximum LTV down from 60% to 56%. Looking forward to the interest, as I have a fair chunk in it. Presume it was never compounding monthly.
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Balder
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Post by Balder on Oct 19, 2020 17:06:26 GMT
Spooky ... now we have an update from ABL. Loan drawdown expected on Monday with a new loan in the pipeline for next week. I'm late to the party on this one but maybe I'll have a nibble at it now. Is that Monday today or some future Monday?
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Post by otis71 on Oct 19, 2020 20:31:44 GMT
Spooky ... now we have an update from ABL. Loan drawdown expected on Monday with a new loan in the pipeline for next week. I'm late to the party on this one but maybe I'll have a nibble at it now. Is that Monday today or some future Monday? Well, the email definitely said Monday 19th October ... could be 2026 I guess ...
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Balder
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Post by Balder on Oct 20, 2020 8:08:48 GMT
ablrate isn't it annoying when a Company itself sets an expectation in communications, fails to meet it and also fails to communicate any delay?
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