cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 17, 2017 17:18:29 GMT
@cooling_dude - from the latest update it looks like this loan will either over run/be extended if it stays as is or will be replaced by a new and bigger financial dfl if gets go ahead for a revised scheme. I thing you might still be in this one - interested to know what you think, especially as borrower is same as B******d loans - is it time to get out of this one? Cheers S I doubt it will overrun - PBL085 repays soon, and my guess is that the money from that will be used to tweak all other SD loans, which will include extensions.
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sirius
Member of DD Central
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Post by sirius on Jun 24, 2017 10:41:04 GMT
Am I missing something, as no-one as yet has commented on the latest update, not even about the inevitable overrun? Since they have now stopped work here until at least November, awaiting the result of the new PA, how will this work out for the borrower, as he has to find 300K-400K interest just to service the existing loan until then? He will need a very large increase in units just to pay for that, let alone the additional interest on a further loan to build those units before he makes an additional profit? Can someone with more savvy than me, please point out the obvious!!!!  |
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SteveT
Member of DD Central
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Post by SteveT on Jun 24, 2017 10:48:17 GMT
Am I missing something, as no-one as yet has commented on the latest update, not even about the inevitable overrun? Since they have now stopped work here until at least November, awaiting the result of the new PA, how will this work out for the borrower, as he has to find 300K-400K interest just to service the existing loan until then? He will need a very large increase in units just to pay for that, let alone the additional interest on a further loan to build those units before he makes an additional profit? Can someone with more savvy than me, please point out the obvious!!!! We're told that the local Council wants to see more units built on the site (11/5 update) so that ought to help successful passage of the new planning application. If approved, the value of the site will rise commensurately, supporting a larger refinance. Interest to cover the period to late Sept should already have been retained from the original sum advanced, so end of November would imply another couple of months' interest to find (perhaps £125k at 1.5%pm)
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sirius
Member of DD Central
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Post by sirius on Jun 24, 2017 15:20:28 GMT
SteveT, thanks for pointing out that which I guessed I had missed!
I may be tempted to take a nibble now, although I held off on this one till now as fairly heavy into his other loans.
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hazellend
Member of DD Central
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Post by hazellend on Jun 24, 2017 16:31:16 GMT
I thought the update was positive.
One thing I don't get is how the council can be so incompetent to take until to November to pass planning permission for something they have apparently requested.
Same thing for Bolton
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Post by loftankerman on Jun 24, 2017 17:10:16 GMT
I thought the update was positive. One thing I don't get is how the council can be so incompetent to take until to November to pass planning permission for something they have apparently requested. Same thing for Bolton I took a short break in Wales in early April, visiting holiday haunts of my childhood in the 1950s. I remarked to an hotel owner that in spite of some new developments in town, the buildings in the old main street didn't appear to have had a coat of paint since then. He bemoaned the uselessness of the council and said the town had 30% unemployment but they'd turned down planning permission for a significant development that would have revived the fortunes of the place. The reason for the refusal was that it would have been of little interest to the impoverished community and would have attracted mostly English people (and their money) which would have been detrimental to the use of the Welsh language.
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Post by df on Jun 25, 2017 1:47:32 GMT
Am I missing something, as no-one as yet has commented on the latest update, not even about the inevitable overrun? Since they have now stopped work here until at least November, awaiting the result of the new PA, how will this work out for the borrower, as he has to find 300K-400K interest just to service the existing loan until then? He will need a very large increase in units just to pay for that, let alone the additional interest on a further loan to build those units before he makes an additional profit? Can someone with more savvy than me, please point out the obvious!!!! We're told that the local Council wants to see more units built on the site (11/5 update) so that ought to help successful passage of the new planning application. If approved, the value of the site will rise commensurately, supporting a larger refinance. Interest to cover the period to late Sept should already have been retained from the original sum advanced, so end of November would imply another couple of months' interest to find (perhaps £125k at 1.5%pm) Where would this come from? Are we going to see DFL006 in 'pipeline loans' soon?
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jul 11, 2017 18:06:31 GMT
Very popular on the SM today. Logged in to my account to find an unexpectedly high available balance. Checked and found all my loan parts on DFL006 have sold today. (No email notifications yet - strange).
Delved deeper and one punter bought a £25k lump of this on the SM today.
For the record, I listed my last parts for sale on 4th June. Sold 11th July. So took roughly 5 weeks to sell out.
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mary
Member of DD Central
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Post by mary on Jul 11, 2017 18:25:06 GMT
Very popular on the SM today. Logged in to my account to find an unexpectedly high available balance. Checked and found all my loan parts on DFL006 have sold today. (No email notifications yet - strange). Delved deeper and one punter bought a £25k lump of this on the SM today. For the record, I listed my last parts for sale on 4th June. Sold 11th July. So took roughly 5 weeks to sell out. This is on my Hold to the End list, if it goes over term I'll happily take the interest uplift, if it extends I'm still happy. It's less than 2% of my Lendy portfolio so in event of default and a 20% capital loss, it's less than 1 months interest, but this loan meets all my criteria so I don't expect that to happen (this not to be taken as financial advice)!
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jul 11, 2017 23:53:47 GMT
Good luck with your investment Mary. I am pleased to hear you are being cautious and well diversified and have undertaken personal investment analysis. My decision to exit was for purely strategic reasons in accordance with my own investment plan. It was not a due diligence based decision and I wish all continuing investors in this loan much benefit from the 12% interest and a subsequent repayment of their capital in full.
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ptr120
Member of DD Central
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Post by ptr120 on Aug 4, 2017 12:26:22 GMT
There was an update on the loan comment yesterday:
We continue to work with our receivers sell this asset prior to placing this property into the next auction in September.
Does anyone think this comment has been placed on the wrong loan?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 4, 2017 13:43:37 GMT
 I have asked Lendy whether they have informed Mr D** about this action. I suspect it was meant for PBL123.
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TitoPuente
Member of DD Central
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Post by TitoPuente on Nov 13, 2017 20:46:20 GMT
Let's assume this one goes t*ts up as normal with Lendy. The VR's lowest BS is £6,432,375. The loan is £4,166,129. Would it be safe to assume that this is still a "focus on the asset" loan and the likelihood of a loss is low even on the Lendy scale?
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GeorgeT
Member of DD Central
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Post by GeorgeT on Nov 13, 2017 21:40:14 GMT
Let's assume this one goes t*ts up as normal with Lendy. The VR's lowest BS is £6,432,375. The loan is £4,166,129. Would it be safe to assume that this is still a "focus on the asset" loan and the likelihood of a loss is low even on the Lendy scale? Well,unusually for a DFL, the loan is based on the existing land value and not the gross development value and that should provide a bit of comfort. However I wouldn't be relaxed holding it - not least because the borrower doesn't seem to be very timely in terms of funding the extension interest.
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moist
Member of DD Central
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Post by moist on Nov 13, 2017 22:08:20 GMT
They seem to be waiting on a planning revision, which is looking likely to succeed...
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