stevio
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Post by stevio on Sept 19, 2017 14:26:57 GMT
Hi withnell , The original valuation has the fixed price contract in it and as our site visits have shown, the project is coming on very well and is in course. Many thanks, Gordon This does not give a "current" valuation though - would you be able to give this or would this require a professional re evaluation?
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Post by Collateral Rep on Sept 19, 2017 15:03:52 GMT
Hi stevio, Yes, this would need a new valuation. For us to request a valuation every time there was a drawdown we would have to ask the borrower to cover the costs. Many thanks, Gordon
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stevio
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Post by stevio on Oct 3, 2017 8:50:55 GMT
Hi stevio , Yes, this would need a new valuation. For us to request a valuation every time there was a drawdown we would have to ask the borrower to cover the costs. Many thanks, Gordon So what can you give us? Currently the valuation is the GDV, which is not the current value Do you receive reports on the progress? If so, what information can you share with us? what is the current spend? What is the current total funds lent and are you including this on information on each tranche?
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seeingred
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Post by seeingred on Oct 3, 2017 10:18:00 GMT
If we could see via updated sets of photographs that the project is coming on apace, that is more comfort than we get from many DFLs. Valuations are (as we know) so unerringly accurate that one can always rely on them. A series of dated photos to show the progress would be welcome. I've asked for the same on the Burnley loan collateral EDIT: Make that the Darwen loan, but the same applies. Month by month photo sets of Exeter DFL001 on the Lendy platform might have been useful!!
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SteveT
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Post by SteveT on Oct 3, 2017 10:28:21 GMT
Collateral Rep , on this scheme and the other multi-tranche development loans, could you please keep the "Related Loans" lists updated on previously issued tranches? For example, today's latest Bolton tranche (DL00017) lists 13 related loans, starting with the original BL00026. However, BL00026 itself lists no related loans at all, and previous development tranches only list those drawn down earlier. Hence prospective SM buyers are being given a misleading impression of the overall state of play. It would also be very useful if the Related Loans lists showed the amount for each tranche, % rate and how they rank. For example: Related LoansBL00026 £1,683,600 12% 1st ranking priorityDL00001 £375,975 14% 2nd ranking priority (joint)DL00002 £405,350 14% 2nd ranking priority (joint)DL00003 etc.DL00004 DL00005
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seeingred
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Post by seeingred on Oct 3, 2017 11:19:09 GMT
Collateral Rep , on this scheme and the other multi-tranche development loans, could you please keep the "Related Loans" lists updated on previously issued tranches? For example, today's latest Bolton tranche (DL00017) lists 13 related loans, starting with the original BL00026. However, BL00026 itself lists no related loans at all, and previous development tranches only list those drawn down earlier. Hence prospective SM buyers are being given a misleading impression of the overall state of play. It would also be very useful if the Related Loans lists showed the amount for each tranche, % rate and how they rank. For example: Related LoansBL00026 £1,683,600 12% 1st ranking priorityDL00001 £375,975 14% 2nd ranking priority (joint)DL00002 £405,350 14% 2nd ranking priority (joint)DL00003 etc.DL00004 DL00005 I asked for this to be done a week or more ago. - to make clear on every loan the order of ranking of each batch of loans. collateral
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zendog
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Post by zendog on Oct 4, 2017 8:33:33 GMT
Someone was keen on the new DL this morning - they invested £69000 out of a possible £70000!
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Post by d_saver on Oct 4, 2017 8:47:57 GMT
Someone was keen on the new DL this morning - they invested £69000 out of a possible £70000! ? How can that be. There is still £26,761.94 left...
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nick
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Post by nick on Oct 4, 2017 8:50:44 GMT
Someone was keen on the new DL this morning - they invested £69000 out of a possible £70000! I guess there is a lot of spare cash sloshing around after the large £7.9M Lendy repayment yesterday evening - the cash is burning a hole in my pocket!
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zendog
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Post by zendog on Oct 4, 2017 8:52:12 GMT
Someone was keen on the new DL this morning - they invested £69000 out of a possible £70000! ? How can that be. There is still £26,761.94 left... Look at DL00018 ; A ******** M £69,000.00 04/10/2017. The current one showing is the 3rd part of the loan DL00019
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Post by d_saver on Oct 4, 2017 8:58:02 GMT
? How can that be. There is still £26,761.94 left... Look at DL00018 ; A ******** M £69,000.00 04/10/2017. The current one showing is the 3rd paet of the loan DL00019 Ah, 18. When you said the new DL this am, I thought you meant 19..... 69k @ 15%. This person obviously has a decent risk appetite (or a lot of cash), not sure which
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Post by elephantrosie on Oct 21, 2017 10:34:33 GMT
do we have an end date to this yet?
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Post by mrclondon on Oct 29, 2017 21:09:06 GMT
IMHO, there is absolutely no need to panic, but it is worth noting that the architects behind the Bolton development are the Liverpool firm that is being discussed extensively on the MT Liverpool thead. As best as can be deduced at present, the architect company is being restructured (involving voluntary liquidation) possibly to create a clean break from perceived reputational issues with other projects in the Liverpool area that they have been associated with. It seems likely the architectural services will be delivered via a NewCo or another (existing) group company in the future.
It is probable that the architects involvement in Bolton is purely for architectural services (i.e. not equity involvement).
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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 Oct 29, 2017 21:18:34 GMT
IMHO, there is absolutely no need to panic, but it is worth noting that the architects behind the Bolton development are the Liverpool firm that is being discussed extensively on the MT Liverpool thead. As best as can be deduced at present, the architect company is being restructured (involving voluntary liquidation) possibly to create a clean break from perceived reputational issues with other projects in the Liverpool area that they have been associated with. It seems likely the architectural services will be delivered via a NewCo or another (existing) group company in the future. It is probable that the architects involvement in Bolton is purely for architectural services (i.e. not equity involvement). Which is probably the worst thing to post ... 'dont do something but' is likely to result in people doing exactly the opposite. Given this is one of the better loans on the platform and I wouldnt mind some I hope everybody goes all Corporal Jones in response.
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fp
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Post by fp on Oct 29, 2017 21:46:07 GMT
52k so far *claps hands*
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