moist
Member of DD Central
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Post by moist on Jun 20, 2017 10:15:24 GMT
safest available loan atm....
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hazellend
Member of DD Central
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Post by hazellend on Jun 20, 2017 11:38:42 GMT
safest available loan atm.... thankfully. Lets just say I've gone a little bit overboard on this one at about 10 times my usual maximum investment per loan. Happy with the fact that I will most likely have to hold to the end, especially now.
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keystone
Member of DD Central
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Post by keystone on Jun 20, 2017 12:15:18 GMT
I have no idea what loan everyone is talking about as I have been away a short while, can someone please explain.
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guff
Posts: 730
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Post by guff on Jun 20, 2017 12:23:05 GMT
I have no idea what loan everyone is talking about as I have been away a short while, can someone please explain. As per the title. Collateral BL00026 - Development for Student Accommodation.
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keystone
Member of DD Central
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Post by keystone on Jun 20, 2017 12:40:00 GMT
Doh! I guess looking at too many loans and having multiple tabs open isn't helping with my concentration. Well that's my excuse anyway!
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Post by Collateral Rep on Jun 20, 2017 14:52:41 GMT
Afternoon,
We're happy to say loan BL00026 (Bolton) has now completed and all cash back will be paid tomorrow morning. Thanks to all investors who helped get this loan over the line.
We will also have two of the Bolton development loans going live shortly with no pre-funding and no bid limits.
Again thanks for all your valued support.
The Collateral Team
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jun 20, 2017 14:54:56 GMT
Afternoon, We're happy to say loan BL00026 (Bolton) has now completed and all cash back will be paid tomorrow morning. Thanks to all investors who helped get this loan over the line. We will also have two of the Bolton development loans going live shortly with no pre-funding and no bid limits. Again thanks for all your valued support. The Collateral Team Hallelujah!!!!
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GeorgeT
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Post by GeorgeT on Jun 20, 2017 15:32:50 GMT
The 2 new Bolton 14% tranches are up and running for investments. I've just had a bite.
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slush
Member of DD Central
Here to learn. Please be gentle.
Posts: 79
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Post by slush on Jun 20, 2017 15:41:34 GMT
The 2nd & 3rd drawdowns repay 20 days in advance of BL00026. That cannot be correct?
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stokeloans
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Post by stokeloans on Jun 20, 2017 15:50:26 GMT
Collateral Rep why have you released 2 tranches at the same time ? Usually a loan has to fill before it can be drawndown.Is that not the case here,are your releasing funds as soon as you have them ?
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mikeh
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Post by mikeh on Jun 20, 2017 15:55:12 GMT
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 20, 2017 16:01:03 GMT
Collateral Rep any chance of some supporting documentary evidence that the site has increased in value in 2 months from 2.44m to 3.57m? Has an updated QS report been received since the original loan launched ... any chance of a executive summary eg money spent, spent on what, new advance to be spent on?. I would at least like to see a figure for current site value in addition to GDV.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,214
Likes: 11,406
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Post by ilmoro on Jun 20, 2017 16:05:56 GMT
The 2nd & 3rd drawdowns repay 20 days in advance of BL00026. That cannot be correct? Can be. Nothing to prevent the second charge being paid off before the first from early sales providing the first charge holder consents. Makes sense to pay of expensive borrowing first. The current discrepancy is actually potentially larger as the first tranche loan should in theory have its term reset when it is marked as drawndown but the terms may well ultimately end up being closer together depending on how long the DL take to fill and the same procedure is applied
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slush
Member of DD Central
Here to learn. Please be gentle.
Posts: 79
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Post by slush on Jun 20, 2017 16:19:40 GMT
I think we are at crossed purposes. How can the loans DL00001 & 2 rank behind the first loan BL00026 when they could be paid back before it?
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metoo
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Post by metoo on Jun 20, 2017 16:37:16 GMT
Collateral Rep , can you explain the logic in listing 2 dev tranches simultaneously? Are the funds not required for a while? Would you not want one tranche filled and deployed first? Can you confirm the funds on any given tranche are not available to the borrower until the tranche is filled? Thanks. Edit: I see now that each dev loan is the amount of the spend stated from the previous month's QS Interim Certificate, with DL00001 delayed by a month, covering the build costs retrospectively.
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