stevio
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Post by stevio on Jul 13, 2016 14:17:20 GMT
Thanks! and what does it actually mean - they were a what and have become a what? I thought they all were developments anyway? They turn from a "Property Bridging Loan" to a "Development Finance Loan". The PBLs are meant to be a short-term finance for the borrower before they find longer term finance. DFL is finance throughout the development of the security and is generally longer than PBLs. Thought you might know and be able to put it in laymans! Are you able to 'laymans' how they work out all the figures on the DFL? something about security and profits....
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cooling_dude
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Post by cooling_dude on Jul 13, 2016 14:21:50 GMT
They turn from a "Property Bridging Loan" to a "Development Finance Loan". The PBLs are meant to be a short-term finance for the borrower before they find longer term finance. DFL is finance throughout the development of the security and is generally longer than PBLs. Thought you might know and be able to put it in laymans! Are you able to 'laymans' how they work out all the figures on the DFL? something about security and profits.... Do you mean how they come to the Loan Amount? Existing Loan(s) + new Tranche (usually £500,000) + interest (usually 18%) + Fees 
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dawn
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Post by dawn on Jul 13, 2016 14:49:46 GMT
Quick question about roll-over - I have £500 in each of these 2 loans. When they roll-over and merge I will have £1000 in the new DFL. I don't want any more than that so should I set pre-funding to zero or will that imply that I don't want this loan anymore and have my £1000 repaid? I am trying to clarify whether roll-over loans always have the amount you hold rolled-over and that it is up to you to sell it later (or before the roll-over) if you don't want it. Does a pre-fund of zero just mean you don't want anymore of the loan? Thanks There is no opt out from previous loans when a rollover occurs (there was some suggestion that an e-mail to SS would do the trick, but that has been attempted by some investors to no avail). If you set your pre-funding to 0 then your total investment in this new DFL will total your previous investment. If you do set a pre-fund figure, then you will increase your investment in this new DFL. Thank you for your very clear explanation - I will know for any future roll-overs
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ilmoro
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Post by ilmoro on Jul 13, 2016 15:20:12 GMT
There is no opt out from previous loans when a rollover occurs (there was some suggestion that an e-mail to SS would do the trick, but that has been attempted by some investors to no avail). If you set your pre-funding to 0 then your total investment in this new DFL will total your previous investment. If you do set a pre-fund figure, then you will increase your investment in this new DFL. Thank you for your very clear explanation - I will know for any future roll-overs Just in case of a refrigeration emergency, meaning CD actually has to do some work and isnt available to answer questions,  its all in the FAQ at the top of this thread (now updated to include the latest SS change)
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cooling_dude
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Post by cooling_dude on Jul 13, 2016 15:23:47 GMT
Thank you for your very clear explanation - I will know for any future roll-overs Just in case of a refrigeration emergency, meaning CD actually has to do some work and isnt available to answer questions, its all in the FAQ at the top of this thread (now updated to include the latest SS change)  I'm having a day off today, and I'm always happy to help . ilmoro , while you were away, it was determined that to opt out of these loans, you simply place your investments on the SM. SS sweep it up before the new loan goes live. It might be something you want to indicate in your FAQs
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ilmoro
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Post by ilmoro on Jul 13, 2016 15:40:13 GMT
Just in case of a refrigeration emergency, meaning CD actually has to do some work and isnt available to answer questions, its all in the FAQ at the top of this thread (now updated to include the latest SS change) I'm having a day off today, and I'm always happy to help . ilmoro , while you were away, it was determined that to opt out of these loans, you simply place your investments on the SM. SS sweep it up before the new loan goes live. It might be something you want to indicate in your FAQs As if I hadnt already done that
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cooling_dude
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Post by cooling_dude on Jul 13, 2016 15:46:27 GMT
I'm having a day off today, and I'm always happy to help . ilmoro , while you were away, it was determined that to opt out of these loans, you simply place your investments on the SM. SS sweep it up before the new loan goes live. It might be something you want to indicate in your FAQs As if I hadnt already done that
mmmmm...
Last update 1 minute ago...
Just a little spell checking & grammar required
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littleoldlady
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Post by littleoldlady on Jul 13, 2016 19:11:59 GMT
ilmoro , while you were away, it was determined that to opt out of these loans, you simply place your investments on the SM. SS sweep it up before the new loan goes live. Strange that SS don't mention this if you email them to say you don't want to roll over. They just refuse.
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micky
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Post by micky on Jul 13, 2016 20:40:16 GMT
I emailed SS about not wishing to roll over my combined investment and received a reply from Tim, informing me put my excess onto the SM. All seems to be straight forward and open to me.
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littleoldlady
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Post by littleoldlady on Jul 13, 2016 20:46:40 GMT
I emailed SS about not wishing to roll over my combined investment and received a reply from Tim, informing me put my excess onto the SM. All seems to be straight forward and open to me. You were lucky, according to Customer Support they cannot legally do it: Thanks for your message. We have to automatically roll existing investors into the new DFL as the borrower has technically not repaid the loan, we are amending the terms. We have regularly given all investors in this loan over 4 months notice about these forthcoming changing amendments so we feel that was sufficient notice for investors to amend their holdings in this loan. Kind regards, Customer Services Team
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 13, 2016 20:46:53 GMT
I emailed SS about not wishing to roll over my combined investment and received a reply from Tim, informing me put my excess onto the SM. All seems to be straight forward and open to me. I think SS are still finding their feet with these DFLs. Opt out via SM seems sensible to me. It does the job, you can fine-tune your roll over investments and it means other willing to invest can get their hand in early. However, SS should have a notice on the roll over loans to inform all investors that this is the method to opt out...
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micky
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Post by micky on Jul 13, 2016 20:54:46 GMT
That seems a fair comment.
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ilmoro
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Post by ilmoro on Jul 13, 2016 22:44:20 GMT
As if I hadnt already done that
mmmmm...
Last update 1 minute ago... Cheeky git. Change was made earlier as per my post prior to this. Update was to split it into a separate question for clarity  Fair point. I have to compose & type my stuff, quite hard using a mouse and a virtual keyboard (helpfully predictive), unlike some who just cut & paste from the SS site
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 13, 2016 22:49:30 GMT
Fair point. I have to compose & type my stuff, quite hard using a mouse and a virtual keyboard (helpfully predictive), unlike some who just cut & paste from the SS site  ... I have you know, that copy and pasting stuff* is very hard using a Samsung S5** *also from the SS e-mails...
**my DD thread do not only contain copy & pasted information you cheeky sod... 
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ped
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Post by ped on Jul 14, 2016 16:35:07 GMT
How many times over will this little one be?
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its all in the FAQ at the top of this thread (now updated to include the latest SS change)
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