sam i am
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Post by sam i am on Jul 7, 2016 12:26:03 GMT
The Huddersfield Block C has returned to 39%. Strange goings on... wonder where 57% actually came from  £15,575,000, £4,381,000, 28%, 3 It has now gone to stage 3, and the LTV down to 28%. Maybe about to go live early next week. It will be interesting to see how much of this they release. Historically IIRC SS have released £500,000 in each tranche for DFLs. I hope the whole £4m+ doesn't hit the market in one go. Firstly, it is highly unlikely to get funded and secondly it would seriously hit liquidity as lenders try to sell out of other loans (this is likely to happen to a certain extent anyway).
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SteveT
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Post by SteveT on Jul 7, 2016 12:26:43 GMT
The Huddersfield Block C has returned to 39%. Strange goings on... wonder where 57% actually came from £15,575,000, £4,381,000, 28%, 3 It has now gone to stage 3, and the LTV down to 28%. Maybe about to go live early next week. Isn't it Block B in the pipeline? Block C is PBL085
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 7, 2016 12:35:45 GMT
£15,575,000, £4,381,000, 28%, 3 It has now gone to stage 3, and the LTV down to 28%. Maybe about to go live early next week. It will be interesting to see how much of this they release. Historically IIRC SS have released £500,000 in each tranche for DFLs. I hope the whole £4m+ doesn't hit the market in one go. Firstly, it is highly unlikely to get funded and secondly it would seriously hit liquidity as lenders try to sell out of other loans (this is likely to happen to a certain extent anyway). Woud have thought it would be funded fairly easily only a net 1.2m after rolling of PBL25 Now DFL3 so time for cooling_dude to defrost & swing into DD action
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sam i am
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Post by sam i am on Jul 7, 2016 12:43:09 GMT
It will be interesting to see how much of this they release. Historically IIRC SS have released £500,000 in each tranche for DFLs. I hope the whole £4m+ doesn't hit the market in one go. Firstly, it is highly unlikely to get funded and secondly it would seriously hit liquidity as lenders try to sell out of other loans (this is likely to happen to a certain extent anyway). Woud have thought it would be funded fairly easily only a net 1.2m after rolling of PBL25 Now DFL3 so time for cooling_dude to defrost & swing into DD action I found this buried in the text: First tranche of development funding of £500k now required. ...but noted that there is a rollover to fund a large chunk of the total anyway. It had slipped my mind that the total was including the rollover and not new money.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 8, 2016 15:50:24 GMT
cooling_dude Newcastle launching Mon as well in case you missed it. I assume you werent planning on a relaxing P2P-free weekend 
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goopy
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Post by goopy on Jul 8, 2016 15:55:14 GMT
cooling_dude Newcastle launching Mon as well in case you missed it. I assume you werent planning on a relaxing P2P-free weekend Have you had an email to this effect? I haven't received one......
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star dust
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Post by star dust on Jul 8, 2016 15:56:30 GMT
cooling_dude Newcastle launching Mon as well in case you missed it. I assume you werent planning on a relaxing P2P-free weekend Think he missed it, it's not on his loans index either
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 8, 2016 15:57:41 GMT
cooling_dude Newcastle launching Mon as well in case you missed it. I assume you werent planning on a relaxing P2P-free weekend Have you had an email to this effect? I haven't received one...... Nope, just whats in todays update on site - same as Scotland - both due to launch and draw next week
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MarkT
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Post by MarkT on Jul 8, 2016 15:58:21 GMT
cooling_dude Newcastle launching Mon as well in case you missed it. I assume you werent planning on a relaxing P2P-free weekend Have you had an email to this effect? I haven't received one...... Me neither. Can't see an allocated PBL no. either.
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sam i am
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Post by sam i am on Jul 12, 2016 11:30:37 GMT
DFL004 now in the pipeline. 60k already on the SM if you want it  |
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Post by grodecki on Jul 12, 2016 11:32:48 GMT
We sure we are rolling over? This is my lowest days remaining loan so happy days if it is rolling over!
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SteveT
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Post by SteveT on Jul 12, 2016 11:33:15 GMT
DFL004 now in the pipeline. 60k already on the SM if you want it £70k actually, if you add together PBL60 and PBL61 (latest update: "We are amalgamating PBL60 and PBL61 into a new loan and providing them with development finance to complete the build. This gives us a more robust exit strategy.")
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sam i am
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Post by sam i am on Jul 12, 2016 11:38:38 GMT
Maybe a bit of an assumption on my part based on previous history. The latest update says: We are amalgamating PBL60 and PBL61 into a new loan and providing them with development finance to complete the build. This gives us a more robust exit strategy. I think that hints at a rollover and in any case I suspect SS would want this to automatically get funds into the DFL. And with PBL61 it looks like £70k currently on the SM Edit: crossed with SteveT |
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SteveT
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Post by SteveT on Jul 12, 2016 11:47:58 GMT
I think that hints at a rollover and in any case I suspect SS would want this to automatically get funds into the DFL. The loan details confirm that the existing PBLs will be rolled into the DFL: "Existing bridging facility provided to fund land purchase and start of development against existing site value of £8.87m. The existing bridges (£5.424m/ 61% LTV) will now be incorporated in to the new development facility."
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sam i am
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Post by sam i am on Jul 12, 2016 14:26:55 GMT
Now a big building in London (stage 0) and a pretty farm in Scotland (stage 3) in the pipeline.
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