keith
Member of DD Central
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Post by keith on Oct 19, 2017 10:45:04 GMT
I tend to be a bit cold on hotel loans and this is on one that has not been in operation for a while. Other posters also might want to do a google search on the name of the partner who is assisting with the purchase but will not be party to the loan. Of course, it may be of no relevance whatsoever to the loan but it is interesting to read section 1.3 of the credit report in that light.
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Post by nickdavies on Oct 19, 2017 11:02:27 GMT
Life partner eh? Looks like she hasn't seen all that much of him over the years.
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Post by spectra on Oct 19, 2017 11:06:16 GMT
Her lack of experience concerns me. (In the hotel trade)
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m2btj
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Post by m2btj on Oct 19, 2017 11:23:36 GMT
I'm not keen on hotels or restaurants but will no doubt end up with a bit of this loan on 30DAA or GBBA. Caravan parks can be huge money spinners & a former client of mine built a well known holiday parks brand after buying a field from a farmer in Devon 50 years ago.
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oldgrumpy
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Post by oldgrumpy on Oct 19, 2017 12:00:07 GMT
Another borrower with "connections".
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Post by peerlessperil on Oct 19, 2017 12:24:42 GMT
Another borrower with "connections". There's no smoke without fire as they say.... The Barry & District News has an amusing account.
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ianj
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Post by ianj on Oct 19, 2017 12:27:55 GMT
I am, quite frankly, bemused as to why a life parter's knowledge of carriers and flight times at Cardiff airport, even if almost (but not quite) 'encyclopaedic' (information easily gleaned on-line by all and sundry), should be considered pertinent to a credit report. Perhaps, apart from being 'energised and highly enthusiastic', that's the only positive that AC can find to say about him.
GC might possibly consider posting a candid 'personal history' (as seen recently on MT), in order to reassure the lending community as to why his unorthodox business activities should be coinsidered irrelevant to those funding this proposed venture.
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Post by nickdavies on Oct 19, 2017 12:32:25 GMT
I am, quite frankly, bemused as to why a life parter's knowledge of carriers and flight times at Cardiff airport, even if almost (but not quite) 'encyclopaedic' (information easily gleaned on-line by all and sundry), should be considered pertinent to a credit report. I Presumably his used cars will come in handy for running airport transfers?
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rick24
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Post by rick24 on Oct 19, 2017 13:14:23 GMT
Has Assetz checked the source of the life partner's funds?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Oct 19, 2017 13:27:29 GMT
Does the hotel have its own laundry?
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trouble
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Post by trouble on Oct 19, 2017 13:37:17 GMT
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Post by spectra on Oct 19, 2017 13:45:29 GMT
First the MT Bradford loan now this, P2P certainly attracts some colourful individuals with diverse “business” interests.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Oct 19, 2017 14:00:44 GMT
Wonder if number 2 needs to service his chiefs interests by making this "generous" gift of funds. Hope the organisation demands only the money left from revenue after lenders are paid. Can't see them being concerned about others though given what they are charged with.
I wonder if the "free gift" could be demanded back as proceeds of crime?
Not at 10% Assetz
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Post by spectra on Oct 19, 2017 16:53:12 GMT
Assuming the information gleaned through lenders’ due diligence is correct, it shows that FCA authorisation means very little and is as much use as a chocolate teapot. It’s time that the financial sector (I refuse to use the word industry as that signifies something productive and useful) put it’s house in order.
If, as I say above, the information is correct, this loan and the MT Bradford loan highlight the urgent need for the current box ticking bureaucrats to be replaced by a real watchdog with teeth that will set ground rules for thorough DD on potential borrowers, as inviting the public to lend their money to individuals with, let’s say, unorthodox records borders on immoral.
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Post by andrewholgate on Oct 19, 2017 19:05:25 GMT
I’ll make a full statement tomorrow.
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