eeyore
Member of DD Central
Posts: 744 
Likes: 734
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Post by eeyore on Aug 12, 2021 16:45:54 GMT
New 24-month commercial term loan for East Kent L*** I*** (PLL1009) has been announced.
Total loan: £461,500 LTV: 65%
Tranche A: £355k @ 6.0% gross (Cap: £1k)
Tranche B: £106.5k @ 8.6% gross (Cap: £1k)
The security is a parcel of land with three light industrial buildings in situ, providing office & warehouse accommodation and
a storage yard. Two of the units are tenanted, the third is used by the borrower.
The exit strategy is either to sell the property, to refinance the loan or to raise capital to redeem the loan.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 12-Aug).
Funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 13-Aug and allocation will take place on Monday 16-Aug.
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Post by gramsky on Jun 15, 2022 6:10:12 GMT
E*** K*** L**** I********* Update: temporary cessation of their interest payment date obligations.
Is this a sign of more to follow under the present economic climate?
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Post by uksoul on Jun 15, 2022 9:08:21 GMT
E*** K*** L**** I********* Update: temporary cessation of their interest payment date obligations. Is this a sign of more to follow under the present economic climate? Is a reason given for the temporary suspension ? is there an interest reserve?
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Post by overthehill on Jun 15, 2022 10:32:09 GMT
E*** K*** L**** I********* Update: temporary cessation of their interest payment date obligations. Is this a sign of more to follow under the present economic climate? Is a reason given for the temporary suspension ? is there an interest reserve?
No reason. It hasn't been approved yet. 6 months interest reserve. All seems very strange given the security and the borrower's financial position and the modest monthly interest amount. Not concerned.
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Post by uksoul on Jun 15, 2022 10:56:06 GMT
Is a reason given for the temporary suspension ? is there an interest reserve?
No reason. It hasn't been approved yet. 6 months interest reserve. All seems very strange given the security and the borrower's financial position and the modest monthly interest amount. Not concerned.
Yeah sounds odd and non troubling, could be some cashflow issue as they asked for the suspension. the fact they asked is a + and willingness to service the loan.
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Post by overthehill on Jun 15, 2022 20:49:56 GMT
This months interest payment was paid today.
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Post by gramsky on Jun 25, 2022 7:39:54 GMT
Since we can't trade this in the 'Exchange' shouldn't this loan have an orange spot?
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Post by uksoul on Jun 25, 2022 7:48:39 GMT
Since we can't trade this in the 'Exchange' shouldn't this loan have an orange spot? Orange is for loans past their maturity date. This loan is still being serviced.
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Post by gramsky on Jun 25, 2022 8:10:36 GMT
Since we can't trade this in the 'Exchange' shouldn't this loan have an orange spot? Orange is for loans past their maturity date. This loan is still being serviced. That is all very well, but what other immediate indication is there that loans are not OK (sic)?
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Post by uksoul on Jun 25, 2022 8:21:12 GMT
Orange is for loans past their maturity date. This loan is still being serviced. That is all very well, but what other immediate indication is there that loans are not OK (sic)? The loan history will have an update and in the new updated messaging page there is a section to scroll for important updates. There is no color code/instant recognition of loans with issues, maybe there should be.
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Post by overthehill on Jun 25, 2022 8:23:54 GMT
That is all very well, but what other immediate indication is there that loans are not OK (sic)? The loan history will have an update and in the new updated messaging page there is a section to scroll for important updates. There is no color code to recognize loans with issues, maybe there should be.
IMO this loan will be back on the SM in a few months, it has a lot going for it. 1 missed payment from memory.
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Post by uksoul on Jun 25, 2022 8:31:53 GMT
The loan history will have an update and in the new updated messaging page there is a section to scroll for important updates. There is no color code to recognize loans with issues, maybe there should be.
IMO this loan will be back on the SM in a few months, it has a lot going for it. 1 missed payment from memory.
Yes, I think it is not going to be a problematic loan. It is not unusual for some loans to experience an issue, taken off the SM and then put back.
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