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January 31, 2024

Update from the originator: 

Borrower Bluetouch has been behind on his payments for a long time, the originator receives several questions about the situation. Because this entrepreneur no longer has a buffer, all current projects are financially connected. As soon as a project has been paid off, there is some room to complete subsequent projects.

The originator expect loan #747653 to be repaid in January, loan #1333351 in February, and loan #807883 in March. Of course, they are not up to date with this situation ourselves, but as long as loans are regularly repaid, the originator choose to let this entrepreneur live because that ultimately gives the best guarantee that the total investment will be received with interest.

However, the originator is also ready to take the necessary steps if the borrower no longer regularly repays loans. The originator can initiate an execution process with the same team/companies that handle the Corbelo portfolio for them, but at the same time they know that this is a long process in which losses must be taken into account.
As soon as we receive new information, we will add it to the update page


October 18, 2023

Update from the originator: 

The originator informs that they have received reply from the borrower regarding Cheadle, Greater Manchester, SK8 4PD, United Kingdom project: 

Hello Investors, 
I have not spoken to you for a while regarding this project so wanted to provide an update.
This has been an incredibly frustrating project, it has been by far the worst experience we have had dealing with a planning department given how long the application has taken hack the time it has taken to gain responses. I have said previously that this is usually a 3 month process and can take up to 6 on larger or more complicated projects however this has taken considerably longer than this and far longer than we could have ever envisaged. This is due to a backlog of applications following the pandemic, however my belief is that the council are very understaffed.
We have had to make alterations to the drawings again and I have attached these for you to view. We feel this is an impressive project and a huge amount of work has gone into getting it to this stage. I understand and am disappointed that you have had to wait a very long time for your funds to be returned and I ask that you persist with us whilst we do all we can to progress this to approval and redemption of your investment. We have had this project valued at £1 million on approval of planning which I have attached for you to view. A sale at this valuation will more than cover your investment and interest, however if the project was to be sold now would be worth circa £650,000 which would be a considerable shortfall on your investment.
We have planning consultants and an architect working on this for us to progress this to approval and are pushing as much as we can to move this along. Thank you for your patience thus far and I hope you can continue to stick with us on this project whilst we push this along to what we hope will be a satisfactory outcome for all.
Thank you again for your investment and for your patience on this project.


March 15, 2023

Update from the originator:

The originator would like to inform you through this update that this loan from Bluetouch Ventures ltd. will be converted from a bullet loan to a full-bullet loan.

The originator has had a lot of contact with the owners of Bluetouch Ventures ltd in the past period. and together, they came to the loan to change the loan from bullet to full-bullet. In short, the originator tells Bluetouch the following:

"Whilst the originator is delighted to have had plannings approved after such a long wait, the originator was originally expecting approval to take 3-4 months when submitted and to date, it has taken 9 months to get to this stage which of course has meant considerably higher interest repayments than expected with the funding costs currently at close to 125,000 pounds on the project. The originator is therefore proposing converting the loan to a full bullet loan whilst the originator ties up the legal agreements and either refinances onto development finance or sells the project. By converting the loan to a full bullet loan the originator projects their cash flow from the strain caused by the delays whilst also securing the interest accrued by the investors as it will be rolled up and paid on either the sale or the refinance of the project."


August 25, 2022

Update from the originator:

This project was extended by 3 months. The repayments of interest and principal are supposed to happen at the end of the term.


August 09, 2022

Update from the originator:

Since the renovations are being carried out, albeit, with delay, it has, for the moment, been decided not to proceed with the execution. The preparation for a possible execution has been done so that the originator can do this at any time. The originator would like to emphasize that this is not a desirable situation. The execution of Corbelo Group's properties will be a long legal process in which capital loss for investors cannot be ruled out. This is a scenario that the originator obviously wants to avoid.


For now, there are still a number of loan repayments on the agenda for the coming weeks, and the originator is in close contact with the solicitor of Corbelo Group. The originator realise that this is an unpleasant situation for everyone, but the originator would like to emphasize that both the originator and Corbelo Group are doing everything they can to repay the loans plus arrears to investors.


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