|
|
Post by stankroenke1 on Nov 11, 2016 18:40:53 GMT
hi all, can someone tell me how long exactly we have to wait for loans to be paid up back to us, when we choose not to renew?. Seems to me the end date mean nothing and you have to wait for FS update witch are few and far between. Why is a 6 mth loan not paid up on the end of the term ? and i dont mean loans in default.
thanks
|
|
SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Nov 11, 2016 18:50:06 GMT
It very much depends on the circumstances of the loan and borrower. FS are pretty good at providing more-or-less weekly updates on all their overdue loans, although expect plenty of "No change" updates when things become protracted. I'd say at least a third of my FS loans run at least a few weeks over the original timeline before either repaying or renewing, and some a whole lot longer. But, whilst I've a number of very long overdue loans (that have been with Receivers for recovery for many months), I'm still awaiting my first write-off. By my reckoning, FS are pretty good at judging when to give a borrower some time and when a loan needs to be defaulted (generally when a borrower stops playing it straight).
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Nov 16, 2016 9:46:49 GMT
I've just picked up some first, discounted parts nearing 30 days so have not yet crossed any expected end dates.
Where these are loans drawn down in tranches will T1 be renewed on FS where it is not repaid but interest is paid (or possibly renewed with interest c/f if the LTV has headroom).
Presumably we're not left unredeemed until Tx is completed?
Edit - A current example would be Building in Shepton ending 24/12 with T2 ending 04/17 which would still only be 185k of a 335k facility.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Nov 16, 2016 10:26:56 GMT
I've just picked up some first, discounted parts nearing 30 days so have not yet crossed any expected end dates. Where these are loans drawn down in tranches will T1 be renewed on FS where it is not repaid but interest is paid (or possibly renewed with interest c/f if the LTV has headroom). Presumably we're not left unredeemed until Tx is completed? Edit - A current example would be Building in Shepton ending 24/12 with T2 ending 04/17 which would still only be 185k of a 335k facility. Yes (to date at least). There are several examples of multi-tranche loans where early tranches have been renewed whilst newer tranches were / are still being raised (eg. Italian Books, Railwayana, NI Property, Leyburn Property). As another live example, the final (8th) tranche of the Herne Bay loan is currently being filled, whilst the first 3 tranches have already been renewed. It's easy to see this for yourself by searching for the loan name in "All Active and Past Loans".
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Nov 16, 2016 10:50:58 GMT
Sssh, don't tell everyone  |
|
shuff27
Member of DD Central
Posts: 90
Likes: 100
|
Post by shuff27 on Dec 11, 2016 9:48:18 GMT
Re the Leyburn loan - last update on 23/11/16 states that "Loan expected to be repaid in full on 25/11/16". Overdue for another update, FS?
|
|
|
|
Post by mrclondon on Dec 11, 2016 16:13:17 GMT
Re the Leyburn loan - last update on 23/11/16 states that "Loan expected to be repaid in full on 25/11/16". Overdue for another update, FS? Only the (overdue) 5th tranche (7859415581) is receiving the weekly updates. Since the update you referred to, the expected redemption data has been put back twice, firstly to last Monday, and more recently to tomoorow (Mon 12th)
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 11, 2016 16:44:33 GMT
A pat on the head for that one 😉
|
|
shuff27
Member of DD Central
Posts: 90
Likes: 100
|
Post by shuff27 on Dec 12, 2016 8:23:54 GMT
Thanks for the info mrclondon. I'm only invested in 1 tranche - obviously not the 5th! Is it standard FS practice to update only 1 tranche of multi-tranche loans & if so why the 5th in this case or is it just random?
|
|
shuff27
Member of DD Central
Posts: 90
Likes: 100
|
Post by shuff27 on Dec 12, 2016 8:27:05 GMT
To answer my own question (possibly) I note that the 5th tranche is overdue & my tranche (the 7th) isn't yet.
|
|
