Ok,been out all day, but here's the rest of the emailed updates, highlighted some of the more interesting comments in
blue:
EXISTING LOANBOOK
DFL001; DFL002; DFL003; DFL004 - No change
PBL006 - We are meeting with the client next week to discuss the repayment of this loan. The borrower is expecting significant funds in October 2016. He will service this loans interest until in receipt of these funds.
PBL020 - The sale of this property is with lawyers and is progressing through the process. We are not sure of the amount that will be received so it is impossible to give anything more useful than this, please be patient for a little longer.
PBL027 - No change.
PBL031 - The borrower is servicing the interest for this loan whilst they organise a refinance.
PBL033 - The borrower is looking to refinance with another lender by the end of this month. (As reported
here this looks like AC)
PBL035 - We are awaiting the full repayment of PBL58 (expected today) in order to fund the extension of this loan for six months.
PBL037; PBL038; PBL039 - Expected repayment imminently.
PBL040 - Borrower has arranged another lender to repay our loan. Currently in legals, expecting full repayment soon. We cannot give a definitive date.
PBL042 - We have offered to refinance the loan based on the new valuation of £700k +. This borrower has proven himself capable of servicing the interest and has managed to increase the value of this site via planning consents. Lenders should expect a new loan in the next month. PBL046 - The borrower is currently servicing this loan whilst he arranges a refinance.
PBL047; PBL048 - The borrower has advised that this loan is due to repay this week.
PBL051 - We are waiting for the customer to either accept an offer to purchase the property or accept our offer of refinance onto a first charge loan. We will increase the loan to repay the first charge lender and take priority. The client will then aim to sell the property within the loan term.
PBL052 - We are going to repay this loan and relaunch it as an increased first charge facility. Currently in legals, should take no more than two weeks for the paperwork to be completed.
PBL054 - This loan will be repaid in full and relaunched as PBL131. Advance notice has been given today.
PBL055 - Still in legals.
PBL056 - The borrower is meeting with our representative this week to discuss his repayment options. He is considering putting it into auction.
PBL057 - Still in legals; moving along without issue.
PBL058 - We are expecting repayment this week. We are monitoring and working with multiple third parties to come to a satisfactory conclusion.
PBL062 -
We have issued a redemption statement. We are expecting repayment soon. We cannot be more definitive as we are relying on various third parties.
PBL063 -
We have issued a redemption statement. We are expecting repayment soon. We cannot be more definitive as we are relying on various third parties.
PBL064; PBL065 - No change.
PBL066; PBL067 - Our representative will be visiting the site this week to discuss repayment with the borrower. We will feedback to investors once the report has been received.
PBL068 - No change.
PBL069; PBL070; PBL071 - Expecting repayment imminently.
PBL073 - No change.
PBL074 - Acceptable sale offer received. Now in legals.
PBL075 - Our representative is going to visit the client this week to discuss repayment. He has other commercial assets which he has pledged so we are working out a solution for him. He has other finance options but would like to stay with us if possible.
PBL077; PBL078; PBL079; PBL080 - Waiting for funds to come in to reduce the overall loan and extend for a further 6 months. In legals.
PBL081 - Our representatives are visiting the site this week - planning consultant and QS who will be able to tell us exactly what needs to be done, how much it will cost and how long it will take. We will report back when the report is received and we have worked out a plan.
PBL082; PBL084 - No change.
PBL085 -
There is an investor who would like to buy the entire block when they are complete at around the end of the year. We are waiting on 'costs to complete' statement from the QS. Also an offer has been made for the freehold.
PBL086 - Currently in legals with another lender.
PBL088 - No change.
PBL089 - Due next month; the broker is trying to arrange another bridging loan to repay us on time.
PBL090 - We are working with interested parties to purchase the site. PBL091 - No change, waiting on an update for the sale.
PBL092 - No change.
PBL093 -
The borrower has asked for a redemption statement as they have found another development lender. Currently in discussions.
PBL094 - Sale offers have been received. In discussions with various interested third parties.
PBL095; PBL096; PBL097; PBL098; PBL099; PBL100; PBL101; PBL102; PBL103; PBL105; PBL106; PBL107; PBL108; PBL112; PBL113; PBL116; PBL117; PBL118; PBL119; PBL120; PBL121; PBL122; PBL123; PBL125; PBL126 - No change
PBL127 - Expected completion this week.
PBL128 - Expected completion this week.
(I will let
star dust add all the updates in
his usual list
So your DD doesn't extend to forum members then