jlend
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Post by jlend on Feb 9, 2018 18:35:41 GMT
Update: 09/02/2018 This loan is being extended for three months. Sales have been progressing well with 30 reservations to date and a further 8 in the pipeline. The extra time should be more than sufficient to achieve the c. 40 sales needed to repay the facility (once formal exchanges have completed). It will be even more positive when some of these "reservations" turn into "formal exchanges". An update in a couple of months on this would be good as we have seen this take longer than expected on some other loans.
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agent69
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Post by agent69 on Feb 9, 2018 18:49:09 GMT
Update: 09/02/2018 This loan is being extended for three months. As in the new definition of extended, where existing lenders don't have any choice in the matter?
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dovap
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Post by dovap on Feb 9, 2018 19:42:38 GMT
Odd really doesn't seem all that long ago that: "2 – The exit is from the development of the site (by us or another lender), and not the sale of the individual units." (pg8 of this very thread) now it seems to depend on the sale of units
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hazellend
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Post by hazellend on Feb 9, 2018 20:16:59 GMT
Update: 09/02/2018 This loan is being extended for three months. As in the new definition of extended, where existing lenders don't have any choice in the matter? What choice could they give you?
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agent69
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Post by agent69 on Feb 9, 2018 20:32:25 GMT
As in the new definition of extended, where existing lenders don't have any choice in the matter? What choice could they give you? The choice to have your money back at the end of the loan period you originally signed up to?
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elliotn
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Post by elliotn on Feb 10, 2018 0:53:12 GMT
As in the new definition of extended, where existing lenders don't have any choice in the matter? What choice could they give you? Surprised current investors being ‘extended’ aren’t told by email, ditto ground rents. (Happy to be proven wrong as not checked my junk this morning).
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Forward
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Post by Forward on Feb 10, 2018 10:00:43 GMT
What choice could they give you? Surprised current investors being ‘extended’ aren’t told by email, ditto ground rents. (Happy to be proven wrong as not checked my junk this morning). Copy of the email i received 01/02/2018 11:06 Loan end dates and extensions
We wanted to let you know that we have added a general update on the platform to notify you about some changes to loan end dates and the way we handle loan extensions. Please log into the platform and view the 'general updates' tab under support to read about the changes which are effective today. Kind regards The Things
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elliotn
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Post by elliotn on Feb 10, 2018 11:51:08 GMT
Surprised current investors being ‘extended’ aren’t told by email, ditto ground rents. (Happy to be proven wrong as not checked my junk this morning). Copy of the email i received 01/02/2018 11:06 Loan end dates and extensions
We wanted to let you know that we have added a general update on the platform to notify you about some changes to loan end dates and the way we handle loan extensions. Please log into the platform and view the 'general updates' tab under support to read about the changes which are effective today. Kind regards The Things The two loans I mention have been extended for 3 months to allow sales to progress after the removal of the renewal option but existing investors would need to be logged in to know this had now happened (there were updates saying these were being agreed but no notification to existing investors was made when this had been done).
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jlend
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Post by jlend on Mar 9, 2018 10:01:36 GMT
MoneyThingJust read your update on this loan. I really like how you have made it clear how many exchanges are required to repay the loan, how many exchanges have occurred and information on the reservations. Good update. I also like lenders are not getting involved in the long term development with this being a bridging loan
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elliotn
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Post by elliotn on Mar 9, 2018 12:19:34 GMT
MoneyThingJust read your update on this loan. I really like how you have made it clear how many exchanges are required to repay the loan, how many exchanges have occurred and information on the reservations. Good update. I also like lenders are not getting involved in the long term development with this being a bridging loan The only qualification being that a month ago 30 had already been reserved (with 8 more in progress) but a mere 8 exchanged within the contractual 28D.
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jlend
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Post by jlend on Mar 9, 2018 13:41:45 GMT
MoneyThing Just read your update on this loan. I really like how you have made it clear how many exchanges are required to repay the loan, how many exchanges have occurred and information on the reservations. Good update. I also like lenders are not getting involved in the long term development with this being a bridging loan The only qualification being that a month ago 30 had already been reserved (with 8 more in progress) but a mere 8 exchanged within the contractual 28D. Agreed. We have seen a slow comversion on other loans as well e.g. Liverpool
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jlend
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Post by jlend on Aug 1, 2018 7:39:37 GMT
Am surprised to see this one non performing given the amount of deposit money they held was nearly enough to pay off the loan in May.
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Monetus
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Post by Monetus on Aug 1, 2018 16:22:56 GMT
And another MT default.
Significant update just added.
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ptr120
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Post by ptr120 on Aug 1, 2018 16:25:55 GMT
Time to get the popcorn and watch how yet another MT default plays out. Am I right in thinking that they have yet to fully exit any of their numerous property defaults?
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Post by funkymonkey on Aug 1, 2018 16:40:28 GMT
Time to get the popcorn and watch how yet another MT default plays out. Am I right in thinking that they have yet to fully exit any of their numerous property defaults? [tbr] As none of the defaulted loans have got to their anniversary of being defaulted yet I do not see that as too much of an issue
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