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Post by propertycalf on Feb 8, 2019 9:19:09 GMT
I wonder how long it will take to fund the repayment of the investors exiting the remaining SPV's? Have they repaid any yet? I haven't got anything. I'm jealous if you have! My guess would be "not soon" at this point. They are paying out each spv (earliest first).. I recieved some money back because I owned shares in one of these earlier investments
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Post by queenvictoria on Feb 8, 2019 15:28:11 GMT
Have they repaid any yet? I haven't got anything. I'm jealous if you have! My guess would be "not soon" at this point. They are paying out each spv (earliest first).. I recieved some money back because I owned shares in one of these earlier investments Thanks. Good to know that £ is trickling through. I'm not expecting any just yet because mine are a bit further on but happy to know all is ok
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Post by queenvictoria on Feb 8, 2019 17:19:10 GMT
I've just had the email with the remaining valuations and have figured out what my OPTION 2 (exit) out-turn should be.
I invested £10,000 in May-Aug 2015. I sold and withdrew £3,500 in April 2018. Based on the contents of the email the final position, once the £3,500 is added back, is that I will walk away with just under £9,650 including dividends paid. This is an overall loss of 3.5%.
Whilst I did not invest 4 years ago expecting to make a loss, given the progress of the investments I am very relieved to very nearly get my money back.
I hope this will give some encouragement to others that what the company is now doing seems to have been a decent rescue plan.
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Post by mortgagez on Feb 8, 2019 19:18:01 GMT
Batch 2 properties for me... -20% if I leave now. -15% if I stay.
Final straw. Emailed in to set the whole lot to leave instead.
Appears a decent enough rescue plan, but as it seems they are paying out imminently I want out!
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hazellend
Member of DD Central
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Post by hazellend on Feb 8, 2019 20:33:21 GMT
I got 2 emails within minutes. They were both identical except one said I was in option 1 and one said I was in option 2.
I emailed to confirm I was in option 2.
25% loss on batch 2 for me.
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Post by propertycalf on Feb 9, 2019 13:22:20 GMT
I'd be interested to know how they intend to raise the funds to pay back the remaining outstanding SPV's for investors exiting.. Not sure if there is much appetite from current investors wanting more shares?
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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 Feb 9, 2019 13:32:09 GMT
I'd be interested to know how they intend to raise the funds to pay back the remaining outstanding SPV's for investors exiting.. Not sure if there is much appetite from current investors wanting more shares? Actually plenty of appetite apparently - all of the first lot of repayments funded by exisiting investors AIUI.
They have been clear that they will be raising long term bank finance to fund any remaining buybacks and future investments and that process is already underway
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hazellend
Member of DD Central
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Post by hazellend on Feb 9, 2019 14:47:44 GMT
I'd be interested to know how they intend to raise the funds to pay back the remaining outstanding SPV's for investors exiting.. Not sure if there is much appetite from current investors wanting more shares? Actually plenty of appetite apparently - all of the first lot of repayments funded by exisiting investors AIUI.
They have been clear that they will be raising long term bank finance to fund any remaining buybacks and future investments and that process is already underway
The portfolio will be very low LTV so presumably will be financed quiet easily. I would have been interested if they’d crowdfunded the finance
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Post by propertycalf on Feb 11, 2019 12:49:15 GMT
So the general consensus appears to be that we are getting paid in the next few weeks?
I'm not so sure..
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hazellend
Member of DD Central
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Post by hazellend on Feb 11, 2019 14:52:22 GMT
So the general consensus appears to be that we are getting paid in the next few weeks? I'm not so sure.. Doubt it will be a few weeks but within the next few 3 - 6 months hopefully
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Post by queenvictoria on Feb 12, 2019 7:51:55 GMT
So the general consensus appears to be that we are getting paid in the next few weeks? I'm not so sure.. Doubt it will be a few weeks but within the next few 3 - 6 months hopefully I had a personal email from them at the beginning of January following an enquiry which said about the remaining valuations: 'I cannot guarantee a date but I would hope we'd have the valuations around the end of the month/early next month.' They have since met this pretty much on time. They then said about repayment of my investments: 'In terms of paying out, I would still work on the basis that this will be targeted for Q2 but the intention is to do it quicker if possible. It is in all of our interests to process the redemptions ASAP so everything can stablise with the PLC.'So we should probably expect payment in April/May/June but if they raise money early we might see it earlier.
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jnm21
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Post by jnm21 on Feb 15, 2019 12:39:57 GMT
I had one payout - would have to be one with only 1 £10 share - SPV7, paid £10.09 on 4th Feb, I saw no notification (hence only withdrew on 9th). PLEASE post on here if you get any payouts, so that others know to check. Good luck to all - whether you exit or stay.
Don't forget the massive rental incomes (LOL) that have not been distributed are (I believe) being used for payouts.
Once again, good luck to all.
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nw99
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Post by nw99 on Feb 20, 2019 7:32:49 GMT
Buy to let in the North going great guns according to the Times today
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Post by propertycalf on Feb 27, 2019 19:32:37 GMT
Anyone expecting an announcement tomorrow? I'm hoping some more SPV's are paid out..
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Post by sayyestocress on Feb 28, 2019 9:06:16 GMT
Anyone expecting an announcement tomorrow? I'm hoping some more SPV's are paid out.. I've no reason to believe there won't be a Feb update; they have given them monthly so far. I would expect some more SPVs will have paid out, too. I've voted for selling out but none of my SPVs have been redeemed plus neither are any of them listed to be part of redemption batch 2 or pending valuation, so I'm hoping they get round to them soon before all of the money from investors looking to increase their holding dries up. I suspect I'll have a long time to wait as the SPVs I have left are duds that I couldn't shift on the SM before it was closed.
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