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Post by Deleted on Sept 6, 2017 8:13:00 GMT
Thank you for your feedback, stevio.
Regards, Filip
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Post by Deleted on Sept 11, 2017 8:21:01 GMT
Hi all,
Given the protracted delay, we have together with the proposed first charge lender decided to impose a deadline for loan completion.
If the loan does not complete by latest 27 September 2017, the loan offer will be withdrawn and all commitments will be released to investors.
Further update(s) will be made in due course.
Regards, Filip
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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 Sept 27, 2017 10:42:52 GMT
@filipkaradaghi
So todays the day. Any indication if this is likely to go ahead? Just thinking about whether I need to move cash in preparation for new loans or not.
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Post by Deleted on Sept 27, 2017 10:49:16 GMT
@filipkaradaghi So todays the day. Any indication if this is likely to go ahead? Just thinking about whether I need to move cash in preparation for new loans or not. Hi ilmoro. It looks as it is unlikely that it will finalise before end of the business day today. We will shortly make an announcement, including a complimentary one-off cashback payment for the delay (although it has been outside of our control) if it does not complete before end of business day. Regards, Filip
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stevio
Member of DD Central
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Post by stevio on Oct 2, 2017 7:12:18 GMT
@filipkaradaghi So todays the day. Any indication if this is likely to go ahead? Just thinking about whether I need to move cash in preparation for new loans or not. Hi ilmoro. It looks as it is unlikely that it will finalise before end of the business day today. We will shortly make an announcement, including a complimentary one-off cashback payment for the delay (although it has been outside of our control) if it does not complete before end of business day. Regards, Filip Has this been done as you mentioned? I normally keep my balance as zero, but today checked and I have much more than it normally is, but there are no transactions to show whats happened. How is everyone's elses showing up? Do you have a specific transaction record for the return of capital or is there a record of CB paid?
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Post by Deleted on Oct 2, 2017 7:45:02 GMT
Hi stevio. It has not been paid yet and due to be paid latest Thursday this week. It will clearly be denoted what it will relate to once paid. If you made an commitment into the loan, available cash did increase when we de-listed the loan as all commitments were released back to investors if that makes sense.
Regards, Filip
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stevio
Member of DD Central
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Post by stevio on Oct 2, 2017 7:55:27 GMT
Hi stevio. It has not been paid yet and due to be paid latest Thursday this week. It will clearly be denoted what it will relate to once paid. If you made an commitment into the loan, available cash did increase when we de-listed the loan as all commitments were released back to investors if that makes sense. Regards, Filip Thanks Was there an email to let us know capital has been returned? Maybe some form of transaction online to show this so we can track things? Can you ensure the cashback doesn't appear as interest either on transactions or tax statement, as it normally is tax free to individuals Thanks
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Post by Deleted on Oct 2, 2017 8:37:06 GMT
Hi stevio. It has not been paid yet and due to be paid latest Thursday this week. It will clearly be denoted what it will relate to once paid. If you made an commitment into the loan, available cash did increase when we de-listed the loan as all commitments were released back to investors if that makes sense. Regards, Filip Thanks Was there an email to let us know capital has been returned? Maybe some form of transaction online to show this so we can track things? Can you ensure the cashback doesn't appear as interest either on transactions or tax statement, as it normally is tax free to individuals Thanks Hi stevio. An email was sent 11.04am 28 September 2017 to all lenders that committed funds into the loan stating that commitments had been released - please let me know if you did not receive it and we will send it again (provided that you did commit funds into the loan). You are correct that commitments are not shown in transaction statements. The reason for this that commitments are not cash flows and do not affect lenders account balance. We will have a think if we could highlight any released commitments in any other way going forward. The email that was sent to lenders as set out above states that we believe that the cashback is tax-free and that lenders should seek independent tax advice if they are uncertain as we are unable to provide any tax advice. To confirm, the cashback will be credited to each lender's Standard account even if the commitment was made through an IFISA account. Please let me know if you have any further questions. Regards, Filip
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Post by Deleted on Oct 3, 2017 8:16:49 GMT
I confirm that the cashback has been credited this morning to lenders Standard account (even if the commitment was made through an IFISA account).
Regards, Filip
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Post by Deleted on Oct 19, 2017 11:15:06 GMT
Hi all,
A re-launch of this loan is imminent as the legals are (finally) nearly completed.
Regards,
Filip
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ben
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Post by ben on Oct 19, 2017 11:49:31 GMT
So what has been the hold up on this loan?
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Post by Deleted on Oct 19, 2017 12:08:46 GMT
So what has been the hold up on this loan? The borrower's solicitors were not very familiar with a bridging transaction and working with two legal firms simultaneously, representing the first and the second charge lenders. Regards, Filip
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Post by Deleted on Oct 21, 2017 8:12:10 GMT
Good morning,
The loan is scheduled to be relaunched Monday morning.
On a slight unrelated note, Swan Court is expected to be fully redeemed on Monday as the security property was sold last night according to the borrower's solicitors.
Have a great weekend.
Regards,
Filip
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stevio
Member of DD Central
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Post by stevio on Oct 22, 2017 12:14:30 GMT
So what has been the hold up on this loan? The borrower's solicitors were not very familiar with a bridging transaction and working with two legal firms simultaneously, representing the first and the second charge lenders. Regards, Filip Will the above be improved for the re-launch?
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Post by Deleted on Oct 22, 2017 12:47:50 GMT
Completion is expected tomorrow as well (subject to full funding).
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