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Post by Badly Drawn Stickman on Oct 12, 2018 8:57:24 GMT
Recent history would suggest this is a size of loan that MT currently can't fill, seems to have nothing special going for it and quite a few unanswerable questions. However the 6 month interest up front seems to be attracting some attention, which is odd. Given you would normally receive the interest monthly the additional benefit even if it was invested at 12% would be a very poor return for being locked in for 6 months. Logically you should be able to put 1/6 off your holding on the SM each month. I know Moneything can only bring to market what is available to them and there is obviously pressure to keep the supply line active but I suspect this one will linger and linger. Really needed to be around 14% to give it a chance. I could be wrong, has to happen eventually. A £2.5m repayment might help, if that is what tonights activity on the site results in. You make a good point, if not today presumably at some point fairly soon big repayments are likely. It would be reasonable to assume a portion of that would be invested in this loan. I suppose if it is a high enough portion to fill the loan all will be well.........
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robski
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Post by robski on Oct 12, 2018 9:53:19 GMT
My understanding is, the loan is to refinance a lease that the borrower is already a party to. Its just this is financed elsewhere and with another joint borrower. Post the MT loan then the original party and finance provider will lose all interest, and the borrower will own sole rights (excluding MT loan of course) to the property. So they would be in the same situation as people who buy houses without the land.
Its also my understanding, but happy to be corrected that a leasee can always extend a lease up util the point it lapses. Should that happen, anything on the land does indeed become the property of the land owner.
Whilst there is some development taking place this feels a decent enough distance away from a development loan to be far more like a mortgage against property and trading.
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Post by spareafewcoppersguv on Oct 12, 2018 10:22:16 GMT
A £2.5m repayment might help, if that is what tonights activity on the site results in. Said activity has been reversed this morning. Update on site regarding what I hope is a minor delay. LW Here we go again!!
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hazellend
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Post by hazellend on Oct 12, 2018 10:27:25 GMT
Said activity has been reversed this morning. Update on site regarding what I hope is a minor delay. LW Here we go again!! Happy for any delays on this one
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SteveT
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Post by SteveT on Oct 12, 2018 11:07:25 GMT
I'm happy enough to take up a slice of this new one, but am rather counting on Wigan completing to free up the funds ...
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greatmarko
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Post by greatmarko on Oct 12, 2018 11:08:13 GMT
Morning. Thanks all - please keep the posts/queries coming and we will look to capture them in a FAQs before the loan goes live. Regards, Ed. Have I missed this? Can't find it anywhere!
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Post by eascogo on Oct 12, 2018 11:15:40 GMT
Morning. Thanks all - please keep the posts/queries coming and we will look to capture them in a FAQs before the loan goes live. Regards, Ed. Have I missed this? Can't find it anywhere! No FAQ given as yet. Still forthcoming I hope.
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Post by MoneyThing on Oct 12, 2018 11:21:37 GMT
Afternoon. FAQs uploaded. Regards, Ed
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Post by spareafewcoppersguv on Oct 12, 2018 12:10:41 GMT
Happy for any delays on this one I was referring to the delay on repayment of large loan OP referred to.....
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KoR_Wraith
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Post by KoR_Wraith on Oct 12, 2018 16:26:26 GMT
I'm happy enough to take up a slice of this new one, but am rather counting on Wigan completing to free up the funds ... Seems like a reasonable loan but I'm in a similar situation with regard to available funds.
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hazellend
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Post by hazellend on Oct 13, 2018 10:48:21 GMT
I will probably buy a unit. At the moment I’m rebalancing into equities so depends what happens next week.
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r1200gs
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Post by r1200gs on Oct 13, 2018 11:10:56 GMT
Lots of good things being said about the restaurant/pub on the ground floor, a few comments about a few druggies hanging around and a lot of building work going on. It looks like the area is on the up though.
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snowmobile
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Post by snowmobile on Oct 13, 2018 12:21:57 GMT
I have posted links on DD central showing the various directorships of both the old and new management. There are several companies where both were a common director at some point. There are numerous instances of late accounts and dissolved companies. There appears to be some uncertainty over when the bar actually started trading. Their facebook page suggests it was December 2016. Tripadvisor reviews started in February 2017. However the MT loan page states that the bar has only been trading since May this year. MoneyThing perhaps you could clarify?
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r1200gs
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Post by r1200gs on Oct 15, 2018 12:26:17 GMT
I’m surprised at the take up of this loan. With Wigan yet to repay, it’s got a decent chance of filling. Unless I'm missing something, it looks a pretty decent loan so why would it not fill? Of course, I could be missing something....
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Post by eascogo on Oct 15, 2018 15:42:17 GMT
I’m surprised at the take up of this loan. With Wigan yet to repay, it’s got a decent chance of filling. Unless I'm missing something, it looks a pretty decent loan so why would it not fill? Of course, I could be missing something.... The near-full capital (nearly £800k) repayment of the 2nd Plym loan will have helped priming the new loan but much depend on the hoped-for Wigan repayment (£2.4m) given it is 3x larger. I believe this is the best chance of the loan filling. Even then this assumes about half the payment will be recycled into the new loan. I hope for MT's sake that this loan will fill and not disappoint later in the day. Edit. I overlooked the possible repayment (also 2.4m) of MTBA822 Newcastle-u-Lyme. If the case then then the home straight beckons.
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