Post by gt94sss2 on May 18, 2015 14:04:59 GMT
Completed/Drawndown Loans
We completed on PBL 32 last week. Interest will be paid at the end of the month as usual.
Existing Loans
PBL 4a – We have agreed terms for this borrower. His loan will be repaid on the platform and we will offer him an extension of 12 months plus a development loan facility of c£1m spread over the course of the loan term. We will create a new page on the SS website to explain how we intend to offer and manage these loans.
PBL 4b – See above.
PBL 5 – This property has sold, exchange will take place tomorrow and repayment by the 10th of June. All funds and interest will be returned to investors on completion.
PBL 6 – No change.
PBL 7 – We received the court order for vacant possession last week. The owner has until the 15th of June to vacate the property. We are also progressing well with the sale of the property for £250k. Funds should be with us in full by the 15th June.
PBL 8 – Our solicitors have received £150k cash for 2 of the apartments. We will be repaying the loan next week in full and then re-launching it at £300k as a new loan. This should be tied up by the end of the month. We have received 3 months interest to cover our costs to the platform.
PBL 10 – Have received a firm offer for one of the units.
PBL 11 – Expecting repayment any day.
PBL 12 - Expecting repayment any day.
PBL 14 – A sale is still expected at the end of the month for 50% of the land and planning permission for 9 houses is also expected within the same timescale.
PBL 15 – Aldermore Bank have offered to take us out of this loan in full, however it will take c 8 – 10 weeks so we have agreed to extend the loan for a further 3 months. Interest will be received to cover our SS costs in the interim.
PBL 16/17/18 – No change.
PBL 19 – We expect to finally complete on this loan this week! All interest to date will be paid to our patient and appreciated investors.
PBL 20 – No change.
PBL 21 – No change.
PBL 22 – No change.
PBL 25 – No change.
PBL 26 – No change.
PBL 27 – No change.
PBL 28 - No change.
PBL 29 - No change.
PBL 30 - No change.
PBL 31 – No change.
PBL 32 – This loan has completed; Lendy Ltd has security.
PBL 33 – This loan is now fully funded. £1.8m was received within 8 hours of this going live. A total of 778 individuals and an average of £3,213.
Pipeline Loans
Large piece of land in Hemel Hempstead with planning for 200+residential units and GDV of +£60m. Needs cash to acquire further commercial assets nearby. We will provide a facility for the client. Loan £2.5m over land worth £10m. Received signed commercials today. This should go live later this week on the platform.
Pub in Southsea, Portsmouth. Value £350k, loan £245k. Completion end of June.
Farm in Lancashire – value £1.25m. (In legals).
Farm in Norfolk – value £1.5m.
Commercial/Resi Exeter - £1.2m.
Land with PP Exeter - £800k.
Land with PP Torquay - £300k.
We completed on PBL 32 last week. Interest will be paid at the end of the month as usual.
Existing Loans
PBL 4a – We have agreed terms for this borrower. His loan will be repaid on the platform and we will offer him an extension of 12 months plus a development loan facility of c£1m spread over the course of the loan term. We will create a new page on the SS website to explain how we intend to offer and manage these loans.
PBL 4b – See above.
PBL 5 – This property has sold, exchange will take place tomorrow and repayment by the 10th of June. All funds and interest will be returned to investors on completion.
PBL 6 – No change.
PBL 7 – We received the court order for vacant possession last week. The owner has until the 15th of June to vacate the property. We are also progressing well with the sale of the property for £250k. Funds should be with us in full by the 15th June.
PBL 8 – Our solicitors have received £150k cash for 2 of the apartments. We will be repaying the loan next week in full and then re-launching it at £300k as a new loan. This should be tied up by the end of the month. We have received 3 months interest to cover our costs to the platform.
PBL 10 – Have received a firm offer for one of the units.
PBL 11 – Expecting repayment any day.
PBL 12 - Expecting repayment any day.
PBL 14 – A sale is still expected at the end of the month for 50% of the land and planning permission for 9 houses is also expected within the same timescale.
PBL 15 – Aldermore Bank have offered to take us out of this loan in full, however it will take c 8 – 10 weeks so we have agreed to extend the loan for a further 3 months. Interest will be received to cover our SS costs in the interim.
PBL 16/17/18 – No change.
PBL 19 – We expect to finally complete on this loan this week! All interest to date will be paid to our patient and appreciated investors.
PBL 20 – No change.
PBL 21 – No change.
PBL 22 – No change.
PBL 25 – No change.
PBL 26 – No change.
PBL 27 – No change.
PBL 28 - No change.
PBL 29 - No change.
PBL 30 - No change.
PBL 31 – No change.
PBL 32 – This loan has completed; Lendy Ltd has security.
PBL 33 – This loan is now fully funded. £1.8m was received within 8 hours of this going live. A total of 778 individuals and an average of £3,213.
Pipeline Loans
Large piece of land in Hemel Hempstead with planning for 200+residential units and GDV of +£60m. Needs cash to acquire further commercial assets nearby. We will provide a facility for the client. Loan £2.5m over land worth £10m. Received signed commercials today. This should go live later this week on the platform.
Pub in Southsea, Portsmouth. Value £350k, loan £245k. Completion end of June.
Farm in Lancashire – value £1.25m. (In legals).
Farm in Norfolk – value £1.5m.
Commercial/Resi Exeter - £1.2m.
Land with PP Exeter - £800k.
Land with PP Torquay - £300k.
