mikes1531
Member of DD Central
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Post by mikes1531 on Nov 25, 2016 19:13:51 GMT
IMO, I think this is a bargepole loan, wether he/she is asset rich or not, they seem to lack the ability/will to settle debts when then they become due, i'd sooner have my cash in the bank, than sat 3 or 4 months overdue in a loan where I haven't actually been paid a penny in interest yet, and don't know if I will ever see any or not, along with my actual investment. On one hand, many of the original investors seem to have brought their bargepoles into action, with a relatively small amount of them rolling over their investment. (I can't remember exactly, but I think the loan was only about 20% funded when it first appeared.) OTOH, other investors seem willing to pile in, with the loan now 95% funded -- including a couple of VVBHs who have put in £100k and £200k. Investor enthusiasm may be encouraged by the stated newer valuation of £1.3M which would mean a 43% LTV. In any case, it looks like it's time to call 'last orders' on this one as I don't expect it will be available very much longer.
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SteveT
Member of DD Central
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Post by SteveT on Nov 25, 2016 19:19:55 GMT
Whoever bagged the underwriting fee on this one must be looking at a pretty decent IRR for less than 12 hours!
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