ablender
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Post by ablender on Dec 14, 2015 10:12:26 GMT
PBL054 is marked as "repayment soon" on my notes. Is this correct?
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Post by chrisuk on Dec 14, 2015 10:12:30 GMT
Thanks for the info. I have cancelled my prefunding for Hull. I don't like the sound of this company at all!
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SteveT
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Post by SteveT on Dec 14, 2015 10:16:25 GMT
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j
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Penguins are very misunderstood!
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Post by j on Dec 14, 2015 12:16:44 GMT
Will be intriguing to see of the upcoming H**l mixed develop loan of £5m+ will need the aid of a cashback to get it over the finishing line! Just had time to read the loan summary &it looks like an attractive proposition despite the size. Off to read the vlauation doc now : When you've finished reading the SS documents, you may also be interested in comments and links mentioned in the Pipeline Loans thread, and the article in the Hull Daily Mail on 26/Nov. , ladywhitenap thanks for the tip/info. Having read the article, I've cancelled my pre-fund bid (small as it may have been) & sold my modest holding in pbl54!
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ablender
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Post by ablender on Dec 14, 2015 12:41:56 GMT
I am still not sure if these are worth lending to or not. At the moment I will stay put and wait for some more info.
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Post by trentenders on Dec 14, 2015 12:56:14 GMT
I'm also out. Thanks also for the tip-off.
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freddy
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Post by freddy on Dec 14, 2015 14:08:22 GMT
There's a lot of PBL54 hitting the SM. Getting snapped up.
Will be interesting to see what happens if/when the next Hull loan goes live. I'm not feeling terribly comfortable with pre- funding a great deal.
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ablender
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Post by ablender on Dec 14, 2015 14:09:39 GMT
It seems a lot of people are selling - but on the other hand the demand is still strong.
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oldgrumpy
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Post by oldgrumpy on Dec 14, 2015 14:10:35 GMT
It seems a lot of people are selling - but on the other hand the demand is still strong. Sure it is!!!!! Probably 90% of the punters aren't reading all this!
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mikes1531
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Post by mikes1531 on Dec 14, 2015 14:30:20 GMT
If they do get development finance arranged in about four months, then the bridging loan will have run about 7-8 months, which seems quite reasonable for a bridging loan. After all, a bridging loan is generally relatively expensive, so when someone takes one on we should expect that they'll try to get longer-term financing to replace it sooner rather than later. The loans might start out as 12-month loans, but we should be grateful of they're repaid after 6-9 months. I'd certainly rather not have a borrower approaching the end of their 12-month loan with no refinancing or other means of repayment in sight.
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Post by xyon100 on Dec 14, 2015 14:48:49 GMT
It seems a lot of people are selling - but on the other hand the demand is still strong. If you could put rocks on the market and people would be fighting over them.
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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 Dec 14, 2015 15:09:16 GMT
I did ask savingstream for clarification on the planning on Q&A but no response. Docs on planning portal dont give any impression of any extension but the fact they have started work may be sufficient for it not to lapse. Lot of speculation but no clear facts. Has anyone looked at the company website (their initials, followed by 7). They are quite big, experienced dev coy with multiple projects. Pretty labyrinthine structure so difficult to identify key parts on Company House at a glance. Need that statement from demo company or an update from paper. Whos to say that its not a dispute over the mess the demo coy made? |
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Post by highlandtiger on Dec 14, 2015 15:26:17 GMT
plenty of people dumping their holdings of 54. Have they been reading this thread  Been thinking though. One way to put more stuff on the SM is to put a few doubts in people's minds about certain loans.  |
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SteveT
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Post by SteveT on Dec 14, 2015 15:26:42 GMT
With SS holding 267 days of retained interest (under the original Lendy T&Cs) and a potential JV refinance in the offing, I think the biggest risk on PBL054 over the next couple months is that it gets repaid early. I've taken advantage of today's flurry of selling to park some uninvested cash ahead of the Xmas lull, there being no obvious indication of other loan launches this week.
[Incidentally, these were my first SM purchases since the new website launched and either there were no bots operating this morning or they were very, very slow ones!]
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SteveT
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Post by SteveT on Dec 14, 2015 15:29:41 GMT
plenty of people dumping their holdings of 54. Have they been reading this thread Been thinking though. One way to put more stuff on the SM is to put a few doubts in people's minds about certain loans. I'm very dubious about PBL046
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