stevio
Member of DD Central
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Post by stevio on Jun 20, 2017 16:49:47 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
Posts: 11,214
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Post by ilmoro on Jun 20, 2017 16:51:39 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? Nothing to stop them being paid back first if the first charge holder OKs it. You said it cannot be correct, I pointed out that it could be, though that isnt to say it isnt an error or merely something that will get shaken out once the terms are corrected on drawdown.
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Post by Collateral Rep on Jun 20, 2017 17:13:06 GMT
Evening,
I've added a PDF to both loans showing the progress with images taken on the 15th of June.
The reason for both tranches being listed at the same time was down to the delay in legals, in which time work still progressed.
As for end dates, on the first loan we did build in a contingency period, but as you can see from the images, the development is progressing well and we will bring all loans into line as the development progresses.
We intend to do a random monthly site inspection where we will take progress images and upload them for investors to see.
Many thanks,
Gordon
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Post by elephantrosie on Jun 20, 2017 22:54:19 GMT
the same borrower for the long awaited student accommodation loan to drawdown. why does the borrower need more money?
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Post by Collateral Rep on Jun 21, 2017 7:45:06 GMT
Morning,
All Cash Back on this loan has now been paid.
Many thanks,
Gordon
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Post by gooner on Jun 21, 2017 8:24:17 GMT
Collateral RepSince cashback was paid the 4 large boxes at the top of the page don't add up. The cashback seems to have been deducted from the 'loans funded' box rather than added to 'account balance' box.
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Post by Collateral Rep on Jun 21, 2017 8:26:52 GMT
Hi gooner , Yes this has been reported to us and we're fixing it now. Apologies for any inconvenience caused. Many thanks, Gordon
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seeingred
Member of DD Central
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Post by seeingred on Jun 21, 2017 8:47:04 GMT
Overall a very satisfactory investor experience including a platform that listens and responds. Well done Gordon and the team.
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elliotn
Member of DD Central
Posts: 3,064
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Post by elliotn on Jun 21, 2017 9:11:21 GMT
Hi gooner , Yes this has been reported to us and we're fixing it now. Apologies for any inconvenience caused. Many thanks, Gordon All fixed, well done on this loan Gordon/Collateral.
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micky
Member of DD Central
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Post by micky on Jun 21, 2017 14:52:18 GMT
I'm pleased to have found another platform; one that seems to back up its claims to providing a good experience for it's investors. Long may this continue
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moist
Member of DD Central
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Post by moist on Jun 21, 2017 21:26:52 GMT
was cashback just for loan parts bought on primary market? Not for secondary purchases bought before drawdown?
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fp
Posts: 1,008
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Post by fp on Jun 21, 2017 21:46:10 GMT
was cashback just for loan parts bought on primary market? Not for secondary purchases bought before drawdown? Yes.
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Post by elephantrosie on Jun 22, 2017 10:50:43 GMT
i see the borrowers have requested another two loans at 14%. why do they need so much more money?
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elliotn
Member of DD Central
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Post by elliotn on Jun 22, 2017 11:02:52 GMT
i see the borrowers have requested another two loans at 14%. why do they need so much more money? First loan was for purchase/start development (on Collateral it was to refinance the orginal loan). Due to the delay in legals, the developer is now drawing upon the next tranches to continue development (ordinarily these would have been listed individually). Per the loan description we can expect monthly draw downs to build out the project, this is a c£6M contract to be completed around the turn of the year. A broader answer to your question is that this borrower has a number of projects funded on p2p, if all complete then there are profits to be made despite the short term funding rates. re 14%, Coll may be taking a smaller cut to help develop their platform as they transition into more sizeable property loans and reward the loan investors on the way .
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Post by elephantrosie on Jun 22, 2017 16:43:21 GMT
thanks both. i thought the initial loan was enough to cover all expenses for this project. obviously not now...
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