ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Apr 17, 2014 18:36:35 GMT
I wonder why this one has drawndown so quickly... I suppose this means that his business & our loan is most secure as he must really know the law to get the legal wheels moving so efficiently. Wasn't this the one replacing an existing loan that needed to be paid off today? I was certainly always expecting it to draw down today, but maybe I've just been lucky.
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Post by mrclondon on Apr 17, 2014 18:37:49 GMT
I wonder why this one has drawndown so quickly... I suppose this means that his business & our loan is most secure as he must really know the law to get the legal wheels moving so efficiently. It was a refinance of an existing loan for the same amount ... £250k repaid earlier today, followed by the drawdown of the new loan.
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Post by Ton ⓉⓞⓃ on Apr 17, 2014 21:57:58 GMT
Thanks for that guys mrclondon & ramblin rose. Auction 29's repayment date is the 19th, now obviously there's a little something called Easter. I would just have guessed that it would've been a day or three late. Don't get me wrong I'm all for loans drawing down. I just like it when I can predict things... |
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Apr 18, 2014 2:18:03 GMT
Auction 29's repayment date is the 19th, now obviously there's a little something called Easter. I would just have guessed that it would've been a day or three late. Don't get me wrong I'm all for loans drawing down. I just like it when I can predict things... The interest rate on the new loan is lower than the rate on the loan it's replacing. So there would have been an incentive to draw the new loan down ASAP unless the initial loan couldn't be paid off early without penalty.
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