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Post by alexp2p on Sept 17, 2020 10:53:49 GMT
Opinions about the new loan R*** C***** M*** U** ?
In my opinion, the main risk is that the borrower is the same as the tenant
It is mitigated by the fact that the business has been running for over seven decades, so it looks being a stable business.
However, interesting was the fact that the new FD tries to reverse the poor financial decisions made by the
predecessor, but I have nothing found about this in the valuation.
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Post by chubby on Sept 17, 2020 13:13:21 GMT
Hi Alexp2p where did you find out about the FD ?
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sapphire
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Post by sapphire on Sept 17, 2020 13:25:31 GMT
Hi Alexp2p where did you find out about the FD ? In the Full loan request...under Lender Risks
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metoo
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Post by metoo on Sept 18, 2020 1:55:21 GMT
PL LTV has been based on the current assessment of 90-day Vacant Possession Value versus sales comparables in the area.
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Post by overthehill on Sept 18, 2020 16:25:00 GMT
Only 100k left. Can't say I've done much extra DD but the rate at which it has filled is impressive. This loan is 1.4M, the next 5 loans are 1.6M, could go quickly.
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Post by uksoul on Sept 19, 2020 0:59:27 GMT
Only 100k left. Can't say I've done much extra DD but the rate at which it has filled is impressive. This loan is 1.4M, the next 5 loans are 1.6M, could go quickly.
About 60k left now. Tranche C went in seconds, i missed out on that but got a slice of B. The next loans likely to be snapped up fast too as with the loans on the PLE. Signs of normality returning.
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eeyore
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Post by eeyore on Sept 21, 2023 16:12:14 GMT
An email from Proplend today (about the Balby refinance), this Redditch loan, due to mature on 29-Sep, will be refinanced and current lenders will have an opportunity to roll-over loans to the new refinance loan. The email suggests "at the end of this week" - tomorrow (Friday)?
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Post by uksoul on Sept 22, 2023 9:48:59 GMT
An email from Proplend today (about the Balby refinance), this Redditch loan, due to mature on 29-Sep, will be refinanced and current lenders will have an opportunity to roll-over loans to the new refinance loan. The email suggests "at the end of this week" - tomorrow (Friday)? The rollover takes place today, deadline next Mon 10am. Only Tranche A can rollover, the remaining tranches have to self select, subject to availability post A rollover and auto selection.
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Post by Ace on Sept 22, 2023 10:30:16 GMT
An email from Proplend today (about the Balby refinance), this Redditch loan, due to mature on 29-Sep, will be refinanced and current lenders will have an opportunity to roll-over loans to the new refinance loan. The email suggests "at the end of this week" - tomorrow (Friday)? The rollover takes place today, deadline next Mon 10am. Only Tranche A can rollover, the remaining tranches have to self select, subject to availability post A rollover and auto selection. I'm assuming that there will be nothing available for self select.
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Post by uksoul on Sept 22, 2023 11:50:06 GMT
The rollover takes place today, deadline next Mon 10am. Only Tranche A can rollover, the remaining tranches have to self select, subject to availability post A rollover and auto selection. I'm assuming that there will be nothing available for self select. There may be a tad left as a few loans have been launched this past week which may cause some to drop out..
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bababill
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Post by bababill on Sept 23, 2023 1:45:58 GMT
The rollover takes place today, deadline next Mon 10am. Only Tranche A can rollover, the remaining tranches have to self select, subject to availability post A rollover and auto selection. I'm assuming that there will be nothing available for self select. At least £400,000 of A will be available for auto selection and rollover. Will auto selection take up all 400k?
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Post by Ace on Sept 23, 2023 7:21:32 GMT
I'm assuming that there will be nothing available for self select. At least £400,000 of A will be available for auto selection and rollover. Will auto selection take up all 400k? I assumed so since I had received no email about it, there was nothing available for auto selection, and the post above said that Mon 10am was the deadline. However, the following was received with yesterday's drawdown notice for the C********n O*****s loan: " R*****h C*******l M***d U*e has been offered as a Roll Over and is expected to go into funding on Tuesday next week". I still expect very little, or nothing, to be available for self select.
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eeyore
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Post by eeyore on Sept 23, 2023 9:13:09 GMT
At least £400,000 of A will be available for auto selection and rollover. Will auto selection take up all 400k? I assumed so since I had received no email about it, there was nothing available for auto selection, and the post above said that Mon 10am was the deadline. However, the following was received with yesterday's drawdown notice for the C********n O*****s loan: " R*****h C*******l M***d U*e has been offered as a Roll Over and is expected to go into funding on Tuesday next week". I still expect very little, or nothing, to be available for self select. Even if all the existing Tranche A loans are rolled-over, there should still be £350k left for Always-On and Self-Select lenders. I would guess that the Always-On allocation will be lower than expected since many lenders would have reached their maximum loan level via the roll-over, so the prospects for Self-Select look more promising than for a standard £350k loan. PS: The roll-over and allocation of Always-On should take place next week, with the email about Self-Select following that, as implied in uksoul 's posting above.
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Post by uksoul on Sept 23, 2023 12:28:59 GMT
At least £400,000 of A will be available for auto selection and rollover. Will auto selection take up all 400k? I assumed so since I had received no email about it, there was nothing available for auto selection, and the post above said that Mon 10am was the deadline. However, the following was received with yesterday's drawdown notice for the C********n O*****s loan: " R*****h C*******l M***d U*e has been offered as a Roll Over and is expected to go into funding on Tuesday next week". I still expect very little, or nothing, to be available for self select. An email was sent out to all existing holders outlining the Mon 10am deadline for A rollover and subsequent offering to B+C holders for self select, subject to availability. Auto selection begins Mon after 10, funding to be completed likely Tues, Wed. I think at least 100k for self select
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eeyore
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Post by eeyore on Sept 27, 2023 11:34:58 GMT
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