michaelc
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Post by michaelc on Dec 3, 2018 14:20:03 GMT
Anyone know why 1227 can't be sold ?
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Steerpike
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Post by Steerpike on Dec 3, 2018 14:31:06 GMT
Anyone know why 1227 can't be sold ? Sold STC according to Rightmove, so presumably about to repay.
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Greenwood2
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Post by Greenwood2 on Dec 4, 2018 13:43:44 GMT
Also has some interest 'rolled' at the moment so is not up to date with payments.
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michaelc
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Post by michaelc on Dec 4, 2018 17:40:27 GMT
Also has some interest 'rolled' at the moment so is not up to date with payments. Yes I see that now. Odd though since its got a few months before repayment date.
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Greenwood2
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Post by Greenwood2 on Dec 4, 2018 19:15:35 GMT
Also has some interest 'rolled' at the moment so is not up to date with payments. Yes I see that now. Odd though since its got a few months before repayment date. You cant sell late loans.
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michaelc
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Post by michaelc on Dec 4, 2018 23:09:44 GMT
Yes I see that now. Odd though since its got a few months before repayment date. You cant sell late loans. Its not due to be repaid for 4 months so why is it late?
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Greenwood2
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Post by Greenwood2 on Dec 5, 2018 7:45:58 GMT
You cant sell late loans. Its not due to be repaid for 4 months so why is it late? It has some unpaid (rolled) interest, so is late in paying that interest. Any loan where a payment is missed or only part paid cannot be sold, as far as I have seen anyway.
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SteveT
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Post by SteveT on Dec 5, 2018 7:48:03 GMT
You cant sell late loans. Its not due to be repaid for 4 months so why is it late? Presumably because the borrower has not serviced interest that is due. Whilst I held Tranche B of this one for a few months, I sold out a while back as I didn't fancy it if/when the security is tested. The loan term was "3 months minimum, 12 months maximum" so it always seemed unlikely that 12 months' interest would be retained at drawdown. (crossed with Greenwood2)
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Greenwood2
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Post by Greenwood2 on Dec 5, 2018 8:34:11 GMT
Its not due to be repaid for 4 months so why is it late? Presumably because the borrower has not serviced interest that is due. Whilst I held Tranche B of this one for a few months, I sold out a while back as I didn't fancy it if/when the security is tested. The loan term was "3 months minimum, 12 months maximum" so it always seemed unlikely that 12 months' interest would be retained at drawdown. (crossed with Greenwood2 ) I thought interest was usually paid monthly rather than retained at drawdown? I have a few with some interest rolled, ie, unpaid before the end of term. Steerpike said above this one has now been sold anyway.
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SteveT
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Post by SteveT on Dec 5, 2018 9:37:08 GMT
Presumably because the borrower has not serviced interest that is due. Whilst I held Tranche B of this one for a few months, I sold out a while back as I didn't fancy it if/when the security is tested. The loan term was "3 months minimum, 12 months maximum" so it always seemed unlikely that 12 months' interest would be retained at drawdown. (crossed with Greenwood2 ) I thought interest was usually paid monthly rather than retained at drawdown? I have a few with some interest rolled, ie, unpaid before the end of term. Steerpike said above this one has now been sold anyway. There doesn't seem much point advancing interest for the minimum term to the borrower, only for them to pay it back to BC within weeks. My guess is that 3 months is usually withheld and that subsequent arrangements vary according to the borrower's situation and stated intentions. (I had one earlier this year that redeemed before 3 months and I was paid the extra interest, along with the capital)
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aj
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Post by aj on Dec 5, 2018 13:13:16 GMT
If you look at recent payments, the borrower seems to have been making them a bit sporadically recently; payments are partial+multiple times a month instead of monthy.
Hopefully nothing to worry about and just a temporary cashflow issue until the property sells.
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tomp
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Post by tomp on Dec 5, 2018 13:23:04 GMT
If you look at recent payments, the borrower seems to have been making them a bit sporadically recently; payments are partial+multiple times a month instead of monthy. Hopefully nothing to worry about and just a temporary cashflow issue until the property sells. Where can you see that? Thank you
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aj
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Post by aj on Dec 5, 2018 15:17:51 GMT
My Account>Statement>Display>All Transactions.
Not the most user friendly view but all info is there. I noticed mainly as I had some cash appear in my account mid november and wondered where it came from.
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michaelc
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Post by michaelc on Dec 5, 2018 15:30:10 GMT
Thanks for the info and discussion guys.
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snowmobile
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Post by snowmobile on Dec 7, 2018 11:30:29 GMT
Repaid in full today
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