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Post by ladywhitenap on Sept 16, 2019 20:33:54 GMT
This only means "likely to be repaid" In the past some loans with admin hiccups have oscillated beteen normal listing and completed listing a couple of times. LW Interesting! Exactly what has now happened. This loan is now removed from completed loans and back into current loans LW
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star dust
Member of DD Central
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Post by star dust on Sept 16, 2019 20:41:34 GMT
Exactly what has now happened. This loan is now removed from completed loans and back into current loans LW Update now on site and end date displayed as 19 th September 2019.
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Post by mrclondon on Sept 16, 2019 20:46:41 GMT
MoneyThing - if you have had any sight of the underlying detail to this transaction, it would be helpful* if you could confirm via a loan update whether the transaction is expected to be a sale/purchase of the land (i.e. it will be owned on completion by a different legal entity) or whether the transaction is to purchase the share capital of the borrowing company (and hence the land remains owned by the same legal entity). Similiarly if you are aware of the underlying financial instrument that will fund the purchase (bank loan, bond issue, cash etc).
Why would I (and others) be interested in such detail, you may ask. Simply to be able to interpret the activity (or lack thereof) wrt to land registry applications/searches being adopted by the buyers legal team. FYI, although not commented on on this thread, we have been aware of a bond issue on behalf of a prospective purchaser for several months.
* I appreciate with the loan suspended from trade the direct usefulness of such info is limited, but it helps build up a deeper understanding of what the LR applications / searches made by a buyer's legal team are implying.
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johni
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Post by johni on Sept 16, 2019 21:27:31 GMT
MoneyThing - if you have had any sight of the underlying detail to this transaction, it would be helpful* if you could confirm via a loan update whether the transaction is expected to be a sale/purchase of the land (i.e. it will be owned on completion by a different legal entity) or whether the transaction is to purchase the share capital of the borrowing company (and hence the land remains owned by the same legal entity). Similiarly if you are aware of the underlying financial instrument that will fund the purchase (bank loan, bond issue, cash etc).
Why would I (and others) be interested in such detail, you may ask. Simply to be able to interpret the activity (or lack thereof) wrt to land registry applications/searches being adopted by the buyers legal team. FYI, although not commented on on this thread, we have been aware of a bond issue on behalf of a prospective purchaser for several months.
* I appreciate with the loan suspended from trade the direct usefulness of such info is limited, but it helps build up a deeper understanding of what the LR applications / searches made by a buyer's legal team are implying.
Your question answered on site
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Post by mrclondon on Sept 16, 2019 21:28:04 GMT
Thanks MoneyThing for the second late evening update on this loan. Much appreciated. |
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Post by quidsaveblue2003 on Sept 16, 2019 22:37:22 GMT
I do suspect this loan could be complete tomorrow
if you go back the updates back dated in August, the buyer had promosed too many times cash in solicitor's bank account and then all turned to be lies on the following days.
I don't want this loan to be another new-castle
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withnell
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Post by withnell on Sept 17, 2019 10:17:02 GMT
The risk on this is that the cash will never be raised, but one would expect that with a significant cash commitment thusfar paying interest and solicitors that the buyer is pretty motivated.
I'm happy to get a few more days at 15% given that there's very little available at that rate to move it to!
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r00lish67
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Post by r00lish67 on Sept 17, 2019 10:35:24 GMT
The risk on this is that the cash will never be raised, but one would expect that with a significant cash commitment thusfar paying interest and solicitors that the buyer is pretty motivated. I've not been following this super-closely, but have they? What has the buyer paid so far?
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withnell
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Post by withnell on Sept 17, 2019 11:19:55 GMT
The risk on this is that the cash will never be raised, but one would expect that with a significant cash commitment thusfar paying interest and solicitors that the buyer is pretty motivated. I've not been following this super-closely, but have they? What has the buyer paid so far? May/June/July/Aug interest paid by the buyer, according the the MT updates
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brush
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Post by brush on Sept 17, 2019 12:19:21 GMT
Pretty sure it stated 17% interest when placed on the completed loans tab.
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Post by captainconfident on Sept 17, 2019 12:35:44 GMT
Ah, we wait with bated breath. Is it still baited? You'll do yourself an injury!
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squid
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Post by squid on Sept 17, 2019 13:23:11 GMT
Agreed, and this is not the only platform..
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
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Post by cedarcourtcapital on Sept 17, 2019 13:25:37 GMT
Is it still baited? You'll do yourself an injury! I, like many others, live in the hope that we will get some substantive action from MT, rather than read endless reports of what lenders, buyers and their solicitors' tell them.  I do not believe you understand who has the upper hand here.... clue.. it is not MT! Yours (and my) frustration with MT's inability to progress matters is caused by the MT updates. MT has been forced into these updates by some borrowers desires to know everything that is happening, rather than just letting things, which they have no control over, take their course. Of course by pandering to the demand for micro updates, the causes frustration amongst all lenders because you cannot 'unread' an update.
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r00lish67
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Post by r00lish67 on Sept 17, 2019 13:54:50 GMT
May/June/July/Aug interest paid by the buyer, according the the MT updates The June, July and August interest payments have NOT been paid and the interest rate is now quoted as 17%. Well, in the interests of fairness, I shall have to remove my 'like' then  I asked the question as my perception had been that it was still quite feasible that the buyer isn't really serious despite apparent progress, but if they had been paying buckets of interest then it would quosh that view.
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averageguy
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Post by averageguy on Sept 17, 2019 14:07:12 GMT
The June, July and August interest payments have NOT been paid and the interest rate is now quoted as 17%. Well, in the interests of fairness, I shall have to remove my 'like' then I asked the question as my perception had been that it was still quite feasible that the buyer isn't really serious despite apparent progress, but if they had been paying buckets of interest then it would quosh that view. What about a quarter of a like for paying one months interest 
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