Nomad
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Post by Nomad on Aug 15, 2017 17:47:01 GMT
Are there any further updates on the construction progress?
On what date were the progress photos taken? Is the predicted completion date still realistic?
As this loan ranks ahead of the tranches DL00001/2/3/4 is it fair to say that it offers a high level of security?
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dp
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Post by dp on Aug 16, 2017 10:51:02 GMT
Is there ever any indication with Development Loans how many tranches there will be in total? or an indication that overall tranches will be 6 Million of which 4 million has been drawn?
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m2btj
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Post by m2btj on Aug 17, 2017 7:35:35 GMT
"A drop in applications for university this year is expected to mean a "buyer's market" with more options available for those looking for places". BBC News 17 Aug.
The article refers to more university places available this year but will surely have a knock on effect with university accommodation. This, Brexit & the recent downturn in Chinese overseas investment may see demand for accommodation somewhat curtailed in the next few years.
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ben
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Post by ben on Aug 17, 2017 7:54:31 GMT
Are there any further updates on the construction progress? On what date were the progress photos taken? Is the predicted completion date still realistic? As this loan ranks ahead of the tranches DL00001/2/3/4 is it fair to say that it offers a high level of security? In case of default yes, this loan will be repaid before the others. Providing the works is completed as stated, each tranche will increase the security of this loan, as the asset will be worth more in theory. The further down loans will only get repaid if the 1st loan gets fully repaid, so the risk is higher on these other loans.
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radar
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Post by radar on Aug 19, 2017 18:27:28 GMT
Are there any further updates on the construction progress? On what date were the progress photos taken? Is the predicted completion date still realistic? As this loan ranks ahead of the tranches DL00001/2/3/4 is it fair to say that it offers a high level of security? In case of default yes, this loan will be repaid before the others. Providing the works is completed as stated, each tranche will increase the security of this loan, as the asset will be worth more in theory. The further down loans will only get repaid if the 1st loan gets fully repaid, so the risk is higher on these other loans. I am puzzled now. How does that work : DL000*----DL000? all end before BL0026 some as much as 70 days earlier.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 19, 2017 19:25:09 GMT
In case of default yes, this loan will be repaid before the others. Providing the works is completed as stated, each tranche will increase the security of this loan, as the asset will be worth more in theory. The further down loans will only get repaid if the 1st loan gets fully repaid, so the risk is higher on these other loans. I am puzzled now. How does that work : DL000*----DL000? all end before BL0026 some as much as 70 days earlier. radar I think there is a comment from Gordon that they will adjust the end dates to all coincide with 26 at some point in the process.
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radar
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Post by radar on Aug 19, 2017 20:17:23 GMT
Yes I have found it Page15 Thanks
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Post by mrclondon on Aug 19, 2017 20:46:49 GMT
Collateral Rep - can you confirm the basic provisions of the deed of priority between yourselves and S****** B****** F****** Limited noted at the Land Registry please. I'm guessing it reverses the order of the charges to give COL first charge, but it would be good to have this confirmed explicitly. Having been badly misled by another platform (and/or their immediate borrower) wrt to prior charges on a development loan, I have just paid my £3 to the Land Registry to download the title register (of part*) of the Bolton land. * I downloaded title number ******61, the other title of relevance is ******98.
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Post by Collateral Rep on Aug 21, 2017 10:38:12 GMT
Morning mrclondon, To be clear Collateral hold first charge on all property asset loans. Many thanks, Gordon
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hazellend
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Post by hazellend on Aug 22, 2017 21:42:12 GMT
None of this loan available on the SM now.
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Post by Collateral Rep on Sept 7, 2017 13:27:22 GMT
Hi @new2p2p,
This is something we are working on for future loans of this type.
All related loans are listed on the loans detail page,
Many thanks,
Gordon
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tomtom
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Post by tomtom on Sept 7, 2017 14:33:08 GMT
Why is the original loan have a much longer loan term than this latest loan?
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Post by Collateral Rep on Sept 7, 2017 15:57:25 GMT
Hi tomtom, All loans will be brought into line nearer the end of the project. Many thanks, Gordon
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tomtom
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Post by tomtom on Sept 7, 2017 17:26:59 GMT
Thanks Gordon, but this now raises the question how long is this loan BL00026 going to be, the longest or shortest time given in the various additional loans?
Tomtom
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fp
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Post by fp on Sept 7, 2017 17:38:17 GMT
Thanks Gordon, but this now raises the question how long is this loan BL00026 going to be, the longest or shortest time given in the various additional loans? Tomtom I'm tipping 120-150 days based on info provided in the loans (dec/jan) ( Collateral Rep ) Gordon, forgive me if this has been covered elsewhere but I cant think that I have seen it, land registry activity suggests that some of the units may already be spoken for, do you know how may are reserved as of yet?
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