oldgrumpy
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Post by oldgrumpy on Oct 16, 2017 14:39:06 GMT
Sure Daddy's the really naughty boy ........... but NP and other son found guilty of related offences -suspended sentences. NP banned as estate agent afterwards . Mummy got sentenced too. ... and nephews. I'm astonished MT are happy to be associated with some borrowers. 11%? You've got good honest clients who pay more to us than that! I'm minded of another place where the borrowers' records/backgrounds are/were considered irrelevant.
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treeman
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Post by treeman on Oct 16, 2017 14:41:45 GMT
As far as I can tell - all one and the same. Semi pro rugby player too. and 'body transformation coach' ?? Different one I think
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GeorgeT
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Post by GeorgeT on Oct 16, 2017 14:42:23 GMT
Nice project .....shame about the borrower.
I'd sum it up thus - an 11% project but a 13% borrower. Therefore I'd have hoped to see this one weighing in at 12% to lenders.
I may invest, but not as much as I would have done at 12%.
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Post by genialharry on Oct 16, 2017 14:45:02 GMT
Crikey I was going to lend a bit in this one. I think I will wait for somehing else. I just read the Pocklington post report Learning quickly. Harry
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Post by Deleted on Oct 16, 2017 14:50:06 GMT
I have to admit MoneyThing , you have an interesting client here. I am surprised and glad to see that there is a standard that even precludes one from being an Estate Agent..... Now, given this, will I lend any money?
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treeman
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Post by treeman on Oct 16, 2017 14:50:18 GMT
... and nephews. I'm astonished MT are happy to be associated with some borrowers. 11%? You've got good honest clients who pay more to us than that! I'm minded of another place where the borrowers' records/backgrounds are/were considered irrelevant. Maybe not so relevant - under Daddy's influence and all that. Worth knowing for sure. Very long list of other interests on Co Hse too. The decaying state of the property and how development costs could be underestimated concerns me. There's some photo-essay type stuff online which shows the insides. Great images but ..........
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hazellend
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Post by hazellend on Oct 16, 2017 14:52:14 GMT
Estate agent corruption, hardly a shock?
Do I like this loan and am I in for the max amount? Of course!
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Post by Deleted on Oct 16, 2017 15:04:44 GMT
Estate agent corruption, hardly a shock? Do I like this loan and am I in for the max amount? Of course! Well a few issues out of that, he was caught, so not even bright enough to avoid that. A director is supposed to work to some standards and yet he seems to be a fraudster to the standards set by the estate agent's law. Now, who would you want to lend to such a person? BTW note that the sleeping partner has 4 or 5 directors and we need to look at them too.
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dovap
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Post by dovap on Oct 16, 2017 15:11:40 GMT
what a lovely family business drug smuggling, stealing from other gangsters, contracts out on them
makes the owner of the tin shed look like a saint
mmmm
the DDC and special 60 must be frothing over this one
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treeman
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Post by treeman on Oct 16, 2017 15:15:44 GMT
Estate agent corruption, hardly a shock? Do I like this loan and am I in for the max amount? Of course! Well a few issues out of that, he was caught, so not even bright enough to avoid that. A director is supposed to work to some standards and yet he seems to be a convicted fraudster. Now, who would you want to lend to a convicted fraudster? BTW note that the sleeping partner has 4 or 5 directors and we need to look at them too. M******t Ltd has TW, the 2nd director of the borrowing company - P******** H**** (B******D) LIMITED, as a director. Sleeping maybe but not far away.
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liso
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Post by liso on Oct 16, 2017 15:17:14 GMT
A one-off 'mistake' is one thing, but a pattern of criminal behaviour/activity involving an entire family is something else.
Good luck to those who invest in this, but it won't be me!
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Post by Deleted on Oct 16, 2017 15:19:13 GMT
Well a few issues out of that, he was caught, so not even bright enough to avoid that. A director is supposed to work to some standards and yet he seems to be a convicted fraudster. Now, who would you want to lend to a convicted fraudster? BTW note that the sleeping partner has 4 or 5 directors and we need to look at them too. M******t Ltd has TW, the 2nd director of the borrowing company - P******** H**** (B******D) LIMITED, as a director. Sleeping maybe but not far away. Singapore or Middlesex surely? Final thoughts about the valuation, all the evidence for local flat prices are £55k to £65k topping out at £80k or there abouts, most of the flats in this building start at £75k and go up to £100k. Plus the 90 day valuation is £1.8m not £2m. Anyone else have a feel for this?
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bugs4me
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Post by bugs4me on Oct 16, 2017 15:34:37 GMT
I'm always wary where a borrower is also a director of 25 other companies and cannot see how M******* Ltd could be considered a silent partner where they are joined by a common director.
The borrower appears to be a SPV specifically for this product and whilst I have no objection in particular to this route, it always raises a question in my head as to why especially when there are so many other companies controlled (I assume) by the director. Whilst a PG is always 'nice', it really doesn't count for a great deal in my mind.
I'll need to go and do some more DD on this one. Converting listed buildings, be they residential or commercial can be a minefield.
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treeman
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Post by treeman on Oct 16, 2017 15:50:31 GMT
I'm always wary where a borrower is also a director of 25 other companies and cannot see how M******* Ltd could be considered a silent partner where they are joined by a common director. The borrower appears to be a SPV specifically for this product and whilst I have no objection in particular to this route, it always raises a question in my head as to why especially when there are so many other companies controlled (I assume) by the director. Whilst a PG is always 'nice', it really doesn't count for a great deal in my mind. I'll need to go and do some more DD on this one. Converting listed buildings, be they residential or commercial can be a minefield. The main group company has a few other projects on the go too, through P*******y H***s and P*******y Devs. Stretched too far? Plus a planning application for a £30m 240 apartment Mill Conversion in Manchester was submitted in Sept
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m2btj
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Post by m2btj on Oct 16, 2017 16:01:27 GMT
The borrower has a decent management team in place & an impressive portfolio of completed work. The security looks solid & NP seems to know his stuff. I'm going to take a punt on this one.
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