3 more FC property loans go late - how many does that make?

Short term loan Folkestone Kent 1 (22436) — 118 days late, exposure £xxxxxx A


25 Aug 2017

The borrower has advised that the refinance of the loan with the external lender is progressing. The valuation has been instructed and once the report is received, the refinance can complete. We will update investors in 2 weeks when we anticipate the valuation report will have been received.



03 Aug 2017

The borrower has advised that the refinance of the loan with the external lender is progressing. The external lender has requested some further documentation from the borrower, which the borrower is in the process of collating. We anticipate these further queries will be dealt with by the end of August and we will update investors at this time.



27 Jul 2017

The borrower has advised that the refinance of the loan with the external lender is progressing but completion will not occur this week. We will continue to liaise with the borrower and update investors next week.



30 Jun 2017

The borrower has advised that there have been delays with the sale and therefore they are going to refinance the loan with an external lender. Completion of the refinance is expected in 3-4 weeks. We will continue to liaise with the borrower and update investors if this timescale changes.



31 May 2017

The borrower has advised that the matter is now with the respective solicitors to deal with final enquiries and anticipates completion occurring in 3-4 weeks. We will continue to liaise with the borrower and update investors if this timescale changes.

Property Development F## T### Hall 1 (22184) — 126 days late, exposure £xxxxxx Downgraded (No risk band - More info)

25 Aug 2017

The borrower has advised that it is still actively marketing the property with a number of agents. We will continue to liaise with the borrower but do not anticipate being in a position to provide a substantive update for another 6-8 weeks. If however we do receive an update within this time, we will of course provide this to investors.



13 Jul 2017

The borrower has advised that its broker has been unable to secure a refinance opportunity to date and no purchaser has been found for the property. The borrower will continue to try a secure a refinance and also actively market the property. However, it appears as if repayment will be delayed until an offer of sale is received. At this stage, we do not believe investors' funds are at risk as we are confident that the property will be sold (and repayment made from the sale proceeds), however the process is taking some time. We will continue to liaise with the borrower but do not anticipate being in a position to provide a substantive update for another 6 weeks. If however we do receive an update within this time, we will of course provide this to investors.



30 Jun 2017

The borrower has advised that its broker is actively liaising with external lenders for refinance opportunities. The borrower has also marketed the property with a number of agents to hopefully secure an offer of sale. We will continue to liaise with the borrower and update investors in 2-3 weeks when we should hopefully have more information.



23 Jun 2017

The borrower has advised that they are still liaising with the external lender with regard to a refinance. We will continue to liaise with the borrower and update investors next week.



16 Jun 2017

The borrower has advised that they are still liaising with the external lender with regard to a refinance. We will continue to liaise with the borrower and update investors next week.



31 May 2017

The borrower has advised that unfortunately the sale has fallen through at the last minute. The borrower is in discussions with another interested party, but is also looking at raising external finance to repay the Funding Circle loan. We will continue to liaise with the borrower and update investors next week.



19 May 2017

The borrower has advised that exchange is scheduled to take place next week with completion shortly thereafter. We will continue to liaise with the borrower and update investors if this timescale changes.



12 May 2017

The borrower has advised us that completion has been delayed due to the purchaser raising further enquries. The borrower's solicitor is liaising with the purchaser's solicitor in this regard and will provide us with a further update next week.

Hmmm. That 6-8 weeks takes us nicely past the Sept 18th "improvements". Call me Mystic Mog, but I foresee a refinancing by FC upon a magical revaluation of the property. Then a golden opportunity shared very fairly amongst the many investors who no longer have any idea of the delights being generously offered.

Short Term Property Surrey GU7 1 (30173) — 81 days late, exposure £xxxxx A


22 Aug 2017

The borrower continues to advise that repayment is imminent. Given the delays however, we have today issued a further official letter to the borrower, which demands the balance in full and outlines further action that might be taken if we do not receive the funds shortly. We will continue to liaise with the borrower and will update investors when we have further information, and a timescale for repayment.



10 Aug 2017

The borrower has advised that completion of the external refinance has been delayed as the required documentation will not be signed until early next week. However the borrower has advised that funds should be received by next Friday. We will update investors next week.



04 Aug 2017

The borrower has advised that completion of the external refinance is due to occur imminently. We will update investors when completion occurs and funds are received, which we anticipate will be by next Friday.



07 Jul 2017

The borrower has advised that they have received an offer of refinance from an external lender and this is due to complete by the end of July. We will continue to liaise with the borrower and update investors if this timescale changes.