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Post by Proptechfish on Sept 17, 2018 16:29:26 GMT
Credit where credit is due, partial loan repayment made
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michaelc
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Say No To T.D.S.
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Post by michaelc on Sept 17, 2018 16:48:57 GMT
Credit where credit is due, partial loan repayment made 7% of the loan repaid with an even higher amount taken off the loan asset/security thus a slight increase in LTV.
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empirica
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Post by empirica on Sept 17, 2018 18:31:03 GMT
7% of the loan repaid with an even higher amount taken off the loan asset/security thus a slight increase in LTV. I'm not reading it that way _ but maybe I have gone wrong somewhere?
The GDV figure has been reduced by £349k. (Looks like Unit 5, marked up at £349k and 'due to exchange' on the latest VR (06/06/18), completed and the GDV reduced accordingly) So, nice to see the borrower returning as much as possible as, if my thinking is correct they need only have returned £230k-ish, being the 65% borrowed against that particular slice of the asset.
Consequently the residual LTV is 64% whereas a pure 'like for like' reduction would have seen the LTV remain exactly the same at 65%?
Upshot being it is an 'even higher amount taken of the loan amount thus a slight decrease in LTV'? (Or have I gotten myself in a pickle??)
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michaelc
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Say No To T.D.S.
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Post by michaelc on Sept 17, 2018 20:36:59 GMT
7% of the loan repaid with an even higher amount taken off the loan asset/security thus a slight increase in LTV. I'm not reading it that way _ but maybe I have gone wrong somewhere?
The GDV figure has been reduced by £349k. (Looks like Unit 5, marked up at £349k and 'due to exchange' on the latest VR (06/06/18), completed and the GDV reduced accordingly) So, nice to see the borrower returning as much as possible as, if my thinking is correct they need only have returned £230k-ish, being the 65% borrowed against that particular slice of the asset.
Consequently the residual LTV is 64% whereas a pure 'like for like' reduction would have seen the LTV remain exactly the same at 65%?
Upshot being it is an 'even higher amount taken of the loan amount thus a slight decrease in LTV'? (Or have I gotten myself in a pickle??)
You're could be right empirica - will have a think about it tomorrow when I'm sober  . I certainly _hope_ you're right anyway.
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sl75
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Post by sl75 on Sept 20, 2018 7:34:44 GMT
Credit where credit is due, partial loan repayment made 7% of the loan repaid with an even higher amount taken off the loan asset/security thus a slight increase in LTV. As empirica correctly analysed a different way, it looks like a 7.0% loan repayment with 5.2% security reduction. LTV decreased from just over 65% to just under 64%. The security reduction will always be larger in £ terms than the payment - even if the property was sold at 100% of the valuation for security purposes, there are costs to deduct (e.g. typically estate agents, solicitors, brokers, etc. all want paying too, as well as Lendy taking their slice), but that's part of the reason we don't lend close to 100% of the valuation!
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cwah
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Post by cwah on Oct 20, 2018 8:13:44 GMT
Did you guys receive some of your money back?
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Post by ladywhitenap on Oct 20, 2018 8:51:11 GMT
Did you guys receive some of your money back? Yes, this gal did! - 3 lots during September LW
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cwah
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Post by cwah on Oct 20, 2018 10:48:13 GMT
Feels like another good borrower?
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ilmoro
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'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 Jan 9, 2019 18:16:09 GMT
Full repayment including interest but no bonus.
PF chipping in 12k to help Lendy get it off the books.
Marks off the full well done as this one looked better than that.
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dp
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Post by dp on Jan 9, 2019 18:22:16 GMT
Excellent news with good/logical update and outcome. Well done.
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cwah
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Post by cwah on Jan 9, 2019 18:50:48 GMT
Good one. Thanks. Although this one was one of the better borrower who worked hard to do load of partial repayment.
Still waiting for the other big one to reach similar ending
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adrianc
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Post by adrianc on Jan 9, 2019 19:13:44 GMT
Hold on a sec... I'm short!
I had a nice round number in four loan parts (I'd bought to keep it round after the previous partials).
I've received 99.984% of the balance that was showing.
Looking through my transactions, I've received the following for each part: Capital repayment - 100% of part value.
Interest - total of 0.723% of part value (this may differ for others, because of those recent purchases).
...but there's also a subtraction...
Shortfall - 0.739% of part value.
Looks like the Provision Fairy hasn't visited me yet - or, at least, I hope so.
Just me?
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ric
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Post by ric on Jan 9, 2019 19:14:16 GMT
Full repayment including interest but no bonus. Once summing all up, I only got a total repayment equal to capital only. No interest. the interest payment offset the Capital shortfall allocated. Should we expect a further payment?
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Post by Proptechfish on Jan 9, 2019 19:16:53 GMT
Full repayment including interest but no bonus. Once summing all up, I only got a total repayment equal to capital only. No interest. the interest payment offset the Capital shortfall allocated. Should we expect a further payment?
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dawn
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Post by dawn on Jan 9, 2019 19:17:39 GMT
I had 2 parts in this loan. For both of them I have an entry saying shortfall (putting my account negative), then a capital repayment of the full amount I had invested (so still short of where I was before the shortfall was "credited"), then interest payments that exactly match the shortfall and get me back to zero. So on balance I have had a full capital return but no interest (although I have something labelled as interest so will need to pay tax on it). Is this just me?
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. I certainly _hope_ you're right anyway.
