hantsowl
Member of DD Central
Posts: 672 
Likes: 546
|
Post by hantsowl on Nov 18, 2020 9:53:54 GMT
Wow!! A number of these (3 or 4 I think from memory) have just vanished from the list leaving only the big one. Not sure if the missing loans relate to a single borrower, but this is a shame given the sparse pickings on the PLE.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 18, 2020 10:00:51 GMT
Wow!! A number of these (3 or 4 I think from memory) have just vanished from the list leaving only the big one. Not sure if the missing loans relate to a single borrower, but this is a shame given the sparse pickings on the PLE. May be PL's DD process identified concerns and so withdrew the offer? If so, I think this should be treated as positive from a QA perspective. But yes, sparse pickings indeed on the PLE and also not many new large offers. Haven't seen a 'juicy' new large bridging loan for a long time!
|
|
eeyore
Member of DD Central
Posts: 744
Likes: 734
|
Post by eeyore on Nov 18, 2020 10:37:02 GMT
Clearing the decks for the big one? "If you've any spare cash to invest, we can't have you distracted by small attractive loans with low LTVs - you have to swallow N**** Retail first!".
If my memory is correct, there were six pending after Monday's loan. Two had disappeared by yesterday (Tuesday) and another three by this morning (Wednesday).
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 18, 2020 10:58:01 GMT
Clearing the decks for the big one? " If you've any spare cash to invest, we can't have you distracted by small attractive loans with low LTVs - you have to swallow N**** Retail first!". If my memory is correct, there were six pending after Monday's loan. Two had disappeared by yesterday (Tuesday) and another three by this morning (Wednesday). Indeed the N***** Retail is relatively a 'big one' on PL. Having regard to the current (and potentially future?) state of the bricks & mortar retail world, will need to have a close look at the VR and loan request summary to see if the risk vs reward profile makes it worthwhile to invest.
|
|
|
|
Post by uksoul on Nov 18, 2020 16:42:10 GMT
I think as mentioned DD by Proplend likely the reason for withdrawal. They said early on in the pandemic they'd be more vigilent with loan approval. Better safe than sorry...
|
|
hantsowl
Member of DD Central
Posts: 672
Likes: 546
|
Post by hantsowl on Nov 18, 2020 18:30:10 GMT
Agreed. I understand that careful DD would probably result in some loans being refused, I was just surprised that 3 or 4 went at the same time. This is why I suspect they may involve the same borrower.
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Nov 19, 2020 11:39:06 GMT
Only 2 of the 4 loans removed were the same borrower. None had a VR uploaded so far as I know, so may have found another lender.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Nov 19, 2020 15:03:20 GMT
Hot off the press! VR dated 18th Nov has now been added for N***** Retail. Bedtime reading for tonight sorted!  Looks like the FLR will follow soon. |
|
eeyore
Member of DD Central
Posts: 744
Likes: 734
|
Post by eeyore on Nov 19, 2020 15:44:09 GMT
VR dated 18th Nov has now been added for N***** Retail. Bedtime reading for tonight sorted! Looks like the FLR will follow soon. I note that the filename for the VR includes the word "-redacted". Page 52 (Letter of Instruction) is missing - perhaps that's what's been redacted? Will we get the usual Thursday email announcing the loan availability on Friday (tomorrow)? We'll soon find out.... [Does this loan merit a discussion thread in DD Central in view of the press speculation about one of the tenants and the "over-renting" issue for the other tenant? We need to heed Proplend's sensitivity to the release of confidential information.]
|
|
|
|
Post by overthehill on Nov 19, 2020 17:06:27 GMT
They like to clear the clutter when there is a big loan , I expect the other 4 to reappear at some point, the 2 storage yards were the same borrower.
I think Proplend will need institutional backing for the No* pending loan. They know a lot more than me and I'm a big fan but I'm struggling to see any upside at those interest rates. The valuation is rosy but there are a number of stand out points which could change things overnight. I always say Tranche A for any Proplend loan is almost as good as gold.
As for the 70/80's architecture, not the only place sadly, they should trace those planners and put them in prison.
|
|
morris
Member of DD Central
Posts: 261
Likes: 149
|
Post by morris on Nov 19, 2020 17:11:12 GMT
Peacocks, one of the two tenants, have gone into administration today.
|
|
|
|
Post by overthehill on Nov 19, 2020 18:13:19 GMT
those other 4 pending loans might be back tomorrow.
|
|
|
|
Post by uksoul on Nov 23, 2020 14:03:17 GMT
There is a 9mth interest reserve on this new big loan which is more than usual.
|
|
pier2pier
Member of DD Central
Posts: 73
Likes: 49
|
Post by pier2pier on Nov 23, 2020 15:28:56 GMT
Peacocks, one of the two tenants, have gone into administration today. Poundland & Bon Marche occupy the units
|
|
|
|
Post by uksoul on Nov 23, 2020 17:12:12 GMT
Peacocks, one of the two tenants, have gone into administration today. Poundland & Bon Marche occupy the units Peacocks bought Bonmarche.. Peacocks is named as a tenant further down in the report
|
|
