elliotn
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Post by elliotn on Sept 7, 2017 11:21:36 GMT
When should I expect the CB to paid on these loans? I want to stick a note in the diary to check..... Up to day after drawdown.
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Post by bonfemme on Sept 8, 2017 5:59:17 GMT
Cashback has been paid.
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Post by wonder on Sept 13, 2017 22:11:50 GMT
These loans look interesting.
Any idea why so much is on the secondary market? I don't know how things go on Collateral. I'm just trying to get to know it now, as opportunities to invest on MT are a bit limited atm.
Thanks for any insight you can provide, Oh Wise Ones. :-)
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elliotn
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Post by elliotn on Sept 13, 2017 22:16:29 GMT
These loans look interesting. Any idea why so much is on the secondary market? I don't know how things go on Collateral. I'm just trying to get to know it now, as opportunities to invest on MT are a bit limited atm. Thanks for any insight you can provide, Oh Wise Ones. :-) Cash back flip. Ditto BL46 (and surprisingly to a lesser extent BL48). Same directors.
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Post by wonder on Sept 14, 2017 5:55:35 GMT
Ah! I see!
So it should clear, and it should be possible to sell this loan quickly in the near future. Is that correct?
No, I'm not asking for a promise. I'm just wondering if that's the way this usually goes.
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SteveT
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Post by SteveT on Sept 14, 2017 6:19:40 GMT
Ah! I see! So it should clear, and it should be possible to sell this loan quickly in the near future. Is that correct? No, I'm not asking for a promise. I'm just wondering if that's the way this usually goes. Unlikely. If you look at the "Recent Investment" tabs you'll see that daily sales are rarely more than a few hundred £s and plenty more is likely to be added for sale if/when the queues shorten (lenders earn no interest whilst waiting in the SM queue). Unless there's an influx of new COL lenders, big cashback loans are best considered "buy and hold to term"
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Post by wonder on Sept 14, 2017 12:11:14 GMT
Ah! I see! So it should clear, and it should be possible to sell this loan quickly in the near future. Is that correct? No, I'm not asking for a promise. I'm just wondering if that's the way this usually goes. Unlikely. If you look at the "Recent Investment" tabs you'll see that daily sales are rarely more than a few hundred £s and plenty more is likely to be added for sale if/when the queues shorten (lenders earn no interest whilst waiting in the SM queue). Unless there's an influx of new COL lenders, big cashback loans are best considered "buy and hold to term" Thanks for that very useful comment. :-) Wow! Going for cashback and then trying to exit the loan now seems like a strange strategy to me! You put your money up, get your cashback, and then sit, possibly for a very long time, on a queue while earning 0% on your money. I can see that it's great for the first folks to get their money onto the SM, but for those further back in the pack - well, they must surely regret the penny-wise-pound-foolish strategy. Of course, I could be wrong. I haven't studied the matter in any depth.
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treeman
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Post by treeman on Sept 14, 2017 13:15:50 GMT
Unlikely. If you look at the "Recent Investment" tabs you'll see that daily sales are rarely more than a few hundred £s and plenty more is likely to be added for sale if/when the queues shorten (lenders earn no interest whilst waiting in the SM queue). Unless there's an influx of new COL lenders, big cashback loans are best considered "buy and hold to term" Thanks for that very useful comment. :-) Wow! Going for cashback and then trying to exit the loan now seems like a strange strategy to me! You put your money up, get your cashback, and then sit, possibly for a very long time, on a queue while earning 0% on your money. I can see that it's great for the first folks to get their money onto the SM, but for those further back in the pack - well, they must surely regret the penny-wise-pound-foolish strategy. Of course, I could be wrong. I haven't studied the matter in any depth. It used to work out very nicely on FC ! 
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SteveT
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Post by SteveT on Sept 14, 2017 13:28:54 GMT
Thanks for that very useful comment. :-) Wow! Going for cashback and then trying to exit the loan now seems like a strange strategy to me! You put your money up, get your cashback, and then sit, possibly for a very long time, on a queue while earning 0% on your money. I can see that it's great for the first folks to get their money onto the SM, but for those further back in the pack - well, they must surely regret the penny-wise-pound-foolish strategy. Of course, I could be wrong. I haven't studied the matter in any depth. It used to work out very nicely on FC ! The big differences on FC were: a) Sellers could offer to sell parts at a discount, passing on a portion of their cashback "profit" to the purchaser. COL is a par-only platform, so only those lenders fast enough to get to the front of the queue have any chance of selling and buyers have no incentive to buy on the SM over waiting for the next PM loan b) FC had a continual stream of new lenders and insufficient new loans to get them all invested quickly, so the SM was an attractive route to getting rapid diversification. On COL, for now at least, loan supply outstrips lender demand so there is limited reason to scour the SM (and no bargains if you do!)
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elliotn
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Post by elliotn on Sept 15, 2017 2:16:26 GMT
Unlikely. If you look at the "Recent Investment" tabs you'll see that daily sales are rarely more than a few hundred £s and plenty more is likely to be added for sale if/when the queues shorten (lenders earn no interest whilst waiting in the SM queue). Unless there's an influx of new COL lenders, big cashback loans are best considered "buy and hold to term" Thanks for that very useful comment. :-) Wow! Going for cashback and then trying to exit the loan now seems like a strange strategy to me! You put your money up, get your cashback, and then sit, possibly for a very long time, on a queue while earning 0% on your money. I can see that it's great for the first folks to get their money onto the SM, but for those further back in the pack - well, they must surely regret the penny-wise-pound-foolish strategy. Of course, I could be wrong. I haven't studied the matter in any depth. A BH at 4% would have 4 months to sell a 12% loan and still be quids in (longer if you factor in any tax saving too). But given the uneemly scramble and SM stasis afterwards the Coll version loses some shine for us S. Hitters.
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ash83
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Post by ash83 on Mar 2, 2018 12:27:31 GMT
Hi All,
Does anyone have any idea what's going to happen (happening) with this loan (I mean the Wav****e loan) now with Col in administration? I may be mistaken but I believe it was set to be repaid by the end of February. Has anyone asked the question from admins if this has been paid back or not?
Thanks
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Post by mrclondon on Mar 2, 2018 12:44:52 GMT
There has been no new filings at companies house to suggest that this (or any of the loans that COL were indicating might be redeemed shortly) have been refinanced. That is by no means conclusive, but given the borrowers stated aim of creating a new property developer brand, and how the SPV borrowing companies are structured, a refinance should be evidenced by new charges being registered at CH by the new lender. (However worth noting Companies House have said their offices are closed yesterday/today due to the weather) Also worth noting that I never received an answer to my query late last year (in this thread) as to how demolition could have commenced when there had been no planning application for the discharge of planning conditions requiring discharge before demolition commenced. As far as I can tell there is still no obvious such planning application on the Hyndburn planning portal. This issue, may or may not have a bearing on the ease with which this loan will be refinanced .... and could potentially result in an offer of refinance being withdrawn once the proposed new lender starts detailed due dilligence. |
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ash83
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Post by ash83 on Mar 2, 2018 13:00:42 GMT
There has been no new filings at companies house to suggest that this (or any of the loans that COL were indicating might be redeemed shortly) have been refinanced. That is by no means conclusive, but given the borrowers stated aim of creating a new property developer brand, and how the SPV borrowing companies are structured, a refinance should be evidenced by new charges being registered at CH by the new lender. (However worth noting Companies House have said their offices are closed yesterday/today due to the weather) Also worth noting that I never received an answer to my query late last year (in this thread) as to how demolition could have commenced when there had been no planning application for the discharge of planning conditions requiring discharge before demolition commenced. As far as I can tell there is still no obvious such planning application on the Hyndburn planning portal. This issue, may or may not have a bearing on the ease with which this loan will be refinanced .... and could potentially result in an offer of refinance being withdrawn once the proposed new lender starts detailed due dilligence. : Thanks for the reply. Unfortunately I have lost the spreadsheet I had tracking my COL activities! Do I remember it correctly that this loan (all 4 tranches) were set to be repaid at the end of Feb. And also there was a recent update on Col site confriming the repayment? Is it worth that we raise this specific case with the admins? (has anyone done this? and if yes would you please share your findings) I guess a lot of people like me have invested higher amounts in this loan because of the cashback offer.
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Post by mrclondon on Mar 2, 2018 13:16:23 GMT
mrclondon : Thanks for the reply. Unfortunately I have lost the spreadsheet I had tracking my COL activities! Do I remember it correctly that this loan (all 4 tranches) were set to be repaid at the end of Feb. And also there was a recent update on Col site confriming the repayment? The repayment date on any p2p loan is perhaps best viewed like a break clause date would be on a lease - its the date when either party can (if they wish) force the termination of the loan (and offer or demand repayment respectively). To expect that the loan would be repaid on or soon after the date specified as the maturity date is a stretch too far, I'm afraid. I simply ignore the stated maturity dates, as they are merely indicative. As discussed on other threads, it is really not appropriate to trouble the administrators with questions on individual loans at this stage. Their initial proposals document (due in 8 weeks time) will set out the framework for how things will unfold over the next few years. Some of the loans may well pay back in the next 8 weeks, but that will be because the borrowers want to redeem them, and have already set the wheels in motion. This loan may be one such, it may not.
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Post by mrclondon on Sept 11, 2018 17:07:36 GMT
Towards the end of last year we were told demolition was under way, and I (on another thread ?) queried this as there was no obvious planning submission (discharge of conditions) of the plan for demolition (which would include details of how the portion which was not to be demolished was to be supported / weather proofed). Unsurprisingly demolition of the building has NOT taken place. The outline planning application is for the demolition of the part of the building in the red area, and the creation of a street of residential properties with access from the south. Photos taken 3:30pm on Wed 5th Sept from the south looking west along W******** Rd at the portion of the building which is to be demolished from the NW corner (on Ru***** St) looking south, again at the building which is to be demolished (the auction sign is from when our borrower purchased it.)
This feels as if it will be the hardest of the three sites to resell as is - the cost of demolition will be significant.
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