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Post by alexp2p on Dec 9, 2020 8:52:41 GMT
Any opinions about the upcoming N****** F**** P*** ****?
One of the worrying things could that the prpoerty was in a dilapidated condition,
however refurbishment would lift the value much
Any other considerations?
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sapphire
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Post by sapphire on Dec 9, 2020 9:01:56 GMT
There appears to be an inconsistency in the GDV numbers.
Page 16 of the VR puts this at £4.3m but the FLR (Page 5) states £4.822m.
The valuation on which the loan is based is the same in the VR & FLR - £1.85m.
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Post by uksoul on Dec 9, 2020 11:35:09 GMT
Any opinions about the upcoming N****** F**** P*** ****? One of the worrying things could that the prpoerty was in a dilapidated condition, however refurbishment would lift the value much Any other considerations? A wealthy individual already lined up to buy the property to redevelop it into luxury apartments, planning permission already given. 9mths interest reserved, experienced borrowers one of which is well known to Proplend. A nice short term loan investment in my view.
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rs
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Post by rs on Dec 9, 2020 12:36:47 GMT
Loan in funding tomorrow.
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eeyore
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Post by eeyore on Dec 9, 2020 13:50:27 GMT
Any opinions about the upcoming N****** F**** P*** ****? ...... This obscuring the loan title is getting ridiculous! It's in a town famous for its flat-racing connections and it's not N******. At least put in the Proplend loan-code (PLL0964)? A few years ago, the local Citizens Advice Bureau where I volunteered moved into a former magistrates court building of a similar vintage. Very stoutly-constructed buildings because the Lord Chancellor's department specifies what they want and the local authority is legally obliged to pay whatever it costs for the building. I hope the developers here do a better refurbishment than we got - we were in the old custody area with glazed white tiles on all the walls which the builder just covered with plasterboard - it was impossible to attach anything to the walls heavier than a clock! Still, the old cells made excellent interview rooms. So the demolition of any redundant walls will be hard work. My main concern about this loan is that it's only for 6 months; if only it were 9% for 36 months! EDIT: I've just spotted that the loan term is six months but nine months of interest will be reserved. Proplend must be anticipating the possibility of the loan over-running.
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metoo
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Post by metoo on Dec 10, 2020 0:37:37 GMT
EDIT: I've just spotted that the loan term is six months but nine months of interest will be reserved. Proplend must be anticipating the possibility of the loan over-running. 3 months interest beyond term is a minimum on PL.
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Post by Ace on Dec 10, 2020 12:03:29 GMT
Fully funded in under 2 minutes.
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eeyore
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Post by eeyore on Dec 10, 2020 12:07:01 GMT
Fully funded in under 2 minutes. And it appears that TrancheA was entirely filled by Auto-Lend (there was no TrancheA left when I looked a few seconds after 12:00).
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Post by Ace on Dec 10, 2020 12:10:17 GMT
Fully funded in under 2 minutes. And it appears that TrancheA was entirely filled by Auto-Lend (there was no TrancheA left when I looked a few seconds after 12:00). Yes, it looked that way to me too. I managed to get a slice of B and C tranches in two accounts (isa and standard), so my finger speed must be improving 😊
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criston
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Post by criston on Dec 11, 2020 9:57:49 GMT
Why is this loan showing under pending again.
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Post by Ace on Dec 11, 2020 10:07:32 GMT
EDIT: I've just spotted that the loan term is six months but nine months of interest will be reserved. Proplend must be anticipating the possibility of the loan over-running. 3 months interest beyond term is a minimum on PL. Unless I'm misunderstanding, that can't be true. I've seen many 2 year loans with 6 month interest reserves.
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eeyore
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Post by eeyore on Dec 11, 2020 10:13:25 GMT
Why is this loan showing under pending again. Perhaps because it was so successful, they'd like to do it all again? Perhaps it never came under Starter's Orders? It needs a photo to decide the winner? There's a Stewards Inquiry? There's been some suspicious betting patterns?
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metoo
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Post by metoo on Dec 11, 2020 10:15:12 GMT
3 months interest beyond term is a minimum on PL. Unless I'm misunderstanding, that can't be true. I've seen many 2 year loans with 6 month interest reserves.  Perhaps I didn't put it very well. Serviced interest is part of the contract, so a 6-month reserve is twice the PL minimum 3-month reserve. In a retained-interest loan, there is a 3-month reserve on top of the amount required during the term.
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metoo
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Post by metoo on Dec 11, 2020 10:16:37 GMT
Why is this loan showing under pending again. Perhaps because it was so successful, they'd like to do it all again? Pledges are still showing under "Waiting to close". They sometimes move the loan back to Pending for housekeeping.
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gramsky
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Post by gramsky on Jun 18, 2021 16:31:11 GMT
When can we expect an update on the late repayment of this loan?
Do these generally arrive as an email or published on the site?
Thanks
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Perhaps I didn't put it very well. Serviced interest is part of the contract, so a 6-month reserve is twice the PL minimum 3-month reserve.