Project update

Update from the originator:

It has been discussed that Corbelo Group will have all repaid the overdue payments together with the outstanding payments by July 2023.

More information will follow.

Update from the originator: Due to an IT issue, the originator is not able to process the pending interest payment. Rest assured, the originator has received the interest payments from the various project developers on time. The problem is in distributing the interest payments to the investors and correctly reflecting the renewals in your portfolio. The originator's development team is currently doing everything it can to resolve this issue as soon as possible. As soon as the problem is solved, you will of course receive all interest with a retroactive effect.

Update from the originator:

Unfortunately due to Covid-19, there are serious delays in registering new owners with several of the local Land Registries in the UK. As a result, it is not possible for Corbelo Group to sell the homes within the agreed terms. This is because the houses are still not in his name and therefore the loans cannot yet be repaid.

Given the delays, it is difficult to estimate how long it will take before Corbelo Group can repay the various loans. That is why it has been decided to let the loans continue until further notice and of course, you will receive the interest on these loans every month. The originator is in direct contact with all solicitors so that the originator can keep track of everything case by case. It is an unfortunate situation for all parties and the originator hopes that it can be resolved quickly.

At the moment it only applies to the loans of Corbelo Group, as many loans from this party will have to be repaid in short term.