zendog
Member of DD Central
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Likes: 83
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Post by zendog on Jul 13, 2017 10:30:00 GMT
Managed to pick up three little nibbles of this since yesterday evening...keep em coming!  You are welcome!
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GeorgeT
Member of DD Central
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Post by GeorgeT on Jul 13, 2017 21:09:59 GMT
I put £100 of this loan up for sale this afternoon and it sold within about 2 minutes. I hope a fellow forum member was the buyer.
I retain a decent 3 figure stake in this loan and I am happy to hold because it is a quality loan but I wanted to free up a bit more to raise my stake in the Liverpool renewal which has a longer remaining term.
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SteveT
Member of DD Central
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Post by SteveT on Sept 29, 2017 10:48:44 GMT
Collateral Rep, I see that BL00017 is now listed for a " 6 month extension". Given that it was originally launched as a " 6 month bridging loan", can you please explain why this loan is being extended rather than renewed? Also, critically, is the borrower paying another 6 months of interest upfront so that " the LTV doesn’t increase during the lifetime of the agreement" ?
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Post by Collateral Rep on Sept 29, 2017 11:25:13 GMT
Hi SteveT, We will be extending property loans rather than renewing from now on. We will only extend loans when interest for the agreed period is paid before the extension period begins. Many thanks, Gordon |
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SteveT
Member of DD Central
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Post by SteveT on Sept 29, 2017 11:33:55 GMT
Hi SteveT , We will be extending property loans rather than renewing from now on. We will only extend loans when interest for the agreed period is paid before the extension period begins. Many thanks, Gordon Thanks. I presume the loan page will be updated (once the additional interest has been paid) to confirm that the further 6 months of interest has been received and is being held by Collateral?
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Post by Collateral Rep on Sept 29, 2017 11:41:26 GMT
Hi SteveT, Yes we will add this to the listing page. Many thanks, Gordon |
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kermie
Member of DD Central
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Post by kermie on Sept 30, 2017 10:23:33 GMT
We will be extending property loans rather than renewing from now on. Would you mind explaining to me what the difference between "extending" and "renewing" is please, Collateral Rep?
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Post by Collateral Rep on Sept 30, 2017 10:33:17 GMT
Hi kermie, A renewal is a new loan possibly with new terms, fee's etc and an extension is the existing loan being lengthened by an agreed period subject to interest being paid in advance. Many thanks, Gordon |
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Post by westcountry on Sept 30, 2017 11:26:15 GMT
Collateral Rep, is it the case that with a renewal you can choose whether to renew your loan parts or not, but with a loan extension you don't have the option of having your loan parts repaid?
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fogey
Posts: 171
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Post by fogey on Oct 4, 2017 11:34:03 GMT
Collateral Rep , is it the case that with a renewal you can choose whether to renew your loan parts or not, but with a loan extension you don't have the option of having your loan parts repaid? If this is the case it makes the renewal box rather redundant. We shall soon discover that .. if any unchecked box results in an automatic extension rather than an unwanted renewal !
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Post by Collateral Rep on Oct 5, 2017 9:11:08 GMT
Morning @new2p2p,
1) Has a re-valuation been undertaken?
We complete our own internal Due Diligence and speak to local agents in the area, if we have any doubts about the asset reducing in value we would instruct a further RICS valuation.
2) It the interest retained for the duration of the extension as per the original term?
As always, loans are only extended/renewed once interest for the agreed term has been paid.
3) Some time back, Collateral expressed their intention to upload copies of the charges made against properties to reassure lenders their security is assured. Will we see Collateral to follow through on that commitment, please?
During our own due diligence we check land reg for property charges etc. Once legals have completed (a few weeks later) we receive confirmation that our charge has been placed on the property. We will go back retrospectively and put them up.
Many thanks,
Gordon
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oik
Member of DD Central
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Post by oik on Oct 5, 2017 17:28:07 GMT
Collateral Rep , is it the case that with a renewal you can choose whether to renew your loan parts or not, but with a loan extension you don't have the option of having your loan parts repaid? If Collateral are going to extend loans without the expressed agreement of lenders, then I'd suggest that it would be reasonable for lenders to at least have the option of trying to sell those loan-parts without financial penalty - i.e. without Collateral pocketing the interest while the loan-part to be extended is on sale.
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qlassa
Member of DD Central
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Post by qlassa on Dec 5, 2017 12:18:33 GMT
Seems more coming from the secondary market, wondering why as i look this as pretty good loan
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southport
Member of DD Central
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Post by southport on Dec 5, 2017 12:37:38 GMT
Seems more coming from the secondary market, wondering why as i look this as pretty good loan Probably people offloading as it nears the end of term.
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ingwer
Member of DD Central
Posts: 121
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Post by ingwer on Dec 5, 2017 17:31:24 GMT
...in addition to the two Collateral cash-hungry events currently available. They do seem to have virtually stalled from an investment view unfortunately. Maybe a large repayment like BL00017 can help these across the line but is there enough time ?
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