twoheads
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Post by twoheads on Oct 5, 2017 10:19:16 GMT
PBL - Development Site, Lanark A new 6 month PBL for £2.4M paying 12% with low LTV at 38%. VR is not available yet. This loan is currently no longer being listed in the pipeline loans section. It was there yesterday evening, but disappeared this morning at some point... Indeed it did. Can't tell you the precise time as I'm currently away from home on a short break.
Very short lived pipeline loan, only lasted 8 days, then gone.
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jamesc
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Post by jamesc on Oct 5, 2017 10:35:34 GMT
This loan is currently no longer being listed in the pipeline loans section. It was there yesterday evening, but disappeared this morning at some point... Indeed it did. Can't tell you the precise time as I'm currently away from home on a short break.
Very short lived pipeline loan, only lasted 8 days, then gone.
What's concerning though this was the proposed exit for PBL57 so what's going to happen to that now ?
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mikes1531
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Post by mikes1531 on Oct 10, 2017 20:39:59 GMT
I mentioned up thread that I'd take measures to tidy up the Lendy Pipeline OP once we'd got to the half-year mark and here's the result: Lendy Pipeline HistoryThe above link used to work for me, but when I tried to use it a few minutes ago, all that came up was the title "Pipeline History" -- no data at all. Is this just a problem with my browser?
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twoheads
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Post by twoheads on Oct 12, 2017 15:35:49 GMT
Finally: we see that PBL142 (V******* M***, Manchester) will be reincarnated as a DFL.
It's making its grand come back as a 14 month DFL at 12% PA. Initial loan £3.16M with GDV at £15.84M.
I wonder if the current investors will be rolled over?
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sarahcount
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Post by sarahcount on Oct 12, 2017 16:19:44 GMT
If the pipeline write up is to be believed the original loan for the Dark Satanic Mill will be repaid only once the new DFL draws down. So expect to hear lender complaints that in order to stay invested they have to put new money in and take it out again later. Think this is what happened to one of the Yorkshire log cabin PBL to DFL conversions. At least the Mill has no sales queue currently for those that want out.
Also worth noting that the proceeds from the DFL raise will go initially into purchasing the property of PBL192 Prescott which has been sat quietly for some time not drawn down.
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elliotn
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Post by elliotn on Oct 12, 2017 16:44:50 GMT
Finally: we see that PBL142 (V******* M***, Manchester) will be reincarnated as a DFL. It's making its grand come back as a 14 month DFL at 12% PA. Initial loan £3.16M with GDV at £15.84M. I wonder if the current investors will be rolled over? Overview says pbl investors are to be repaid in full, no mention of roll-over.
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treeman
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Post by treeman on Oct 13, 2017 9:03:03 GMT
Finally: we see that PBL142 (V******* M***, Manchester) will be reincarnated as a DFL. It's making its grand come back as a 14 month DFL at 12% PA. Initial loan £3.16M with GDV at £15.84M. I wonder if the current investors will be rolled over? Overview says pbl investors are to be repaid in full, no mention of roll-over. Will be very interesting to see what the appetite/allocations are for this given the current platform situation.
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elliotn
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Post by elliotn on Oct 14, 2017 12:30:07 GMT
It states that PBL will be repaid after drawdown so existing investors wishing to jump into another DFL need to find new money to put on. Unless there is almost immediate drawdown of course. Presumably Ly are confident of bringing in sufficient new funds for a flagship dfl (and no doubt meet their regulatory requirements of not holding loans on their balance sheet); funny how they’re still willing to shoehorn you from a pbl into a dfl on other loans though when it’s a bit more whiffy.
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Post by spareapennyor2 on Oct 16, 2017 6:28:49 GMT
DFL008 - Tranche 15 in pipeline
Exit Strategy
The units will be completed between February and May 2017
proof reader job needed?
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ped
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Post by ped on Oct 16, 2017 10:46:02 GMT
DFL008 - Tranche 15 in pipeline Exit Strategy The units will be completed between February and May 2017 proof reader job needed? It isn't difficult to know what year it is? Is it!.. I know a 6 year old who could do a better job. Ly muppets shine again.
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twoheads
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Post by twoheads on Oct 16, 2017 11:25:04 GMT
DFL008 - Tranche 15 in pipeline Exit Strategy The units will be completed between February and May 2017 proof reader job needed? More likely a simple cut and paste with no checks. I'm pretty sure the completion schedule is the original one from when the loan was first offered and has never been changed. The original loan particulars have been copied to the new tranche. Note: Original draw down for the DFL version of this loan was 31/10/2016 with a term of 273 days (from cooling_dude's index). This means that the original term should have ended 31/07/2017. This would allow some time to sell the completed properties. Now the project has slipped (haven't they all) but nobody's updated the timescales in the blurb online.
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twoheads
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Post by twoheads on Oct 24, 2017 10:46:44 GMT
It seems that the PBL caravan site in Dorset was removed today having been sitting there for nearly a month.
Presumably because the PP was turned down.
I couldn't find a dedicated thread for this PBL.
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gb007
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Post by gb007 on Oct 25, 2017 17:55:15 GMT
It seems that the PBL caravan site in Dorset was removed today having been sitting there for nearly a month. Presumably because the PP was turned down. I couldn't find a dedicated thread for this PBL. East Dorset DC planning portal still showing "Application Under Consideration"
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gb007
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Post by gb007 on Oct 25, 2017 19:05:15 GMT
Is that the application dated 31/05/17 ending CLP, which was refused on 7th September 2017?
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dp
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Post by dp on Oct 27, 2017 13:15:26 GMT
Looks like none of the 4 loans has gone live today yet......presumably a later Friday afternoon session.
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