Post by micky on Feb 29, 2020 13:39:00 GMT
Quotes from the other forum
'Apparently Bridgecrowd are offering another multimillion pound loan on a property in Stafford Street, Wolverhampton, to the same borrower who has defaulted on the S****** Development loan on Lendy to the extent of £14M + a lot of interest.
Maybe someone on Bridgecrowd can reply on the Frank forum to assure us that our money will be safe if we invest with them on this particular loan. Maybe Mr W has repaid his Lendy loan to the administrators, and we haven't been informed yet. Yes, that must be it.'
'As it appears in the world of P2P we are quite often at a loss (literally) to do anything when these scoundrels walk away from our loans on the cheap.
As Bridgecrowd inform us-
'The borrower is also providing a PG in addition to the legal charge over the security. The borrower also owns an unencumbered property valued at £750k and jointly owns a further property with a self-asserted EMV of £2.5m with a £1m 1st charge mortgage.'
I have been informed that for those with access to BC site that the valuation report for the new Wolverhampton BC loan contains contact details for the borrower.
'Apparently Bridgecrowd are offering another multimillion pound loan on a property in Stafford Street, Wolverhampton, to the same borrower who has defaulted on the S****** Development loan on Lendy to the extent of £14M + a lot of interest.
Maybe someone on Bridgecrowd can reply on the Frank forum to assure us that our money will be safe if we invest with them on this particular loan. Maybe Mr W has repaid his Lendy loan to the administrators, and we haven't been informed yet. Yes, that must be it.'
'As it appears in the world of P2P we are quite often at a loss (literally) to do anything when these scoundrels walk away from our loans on the cheap.
As Bridgecrowd inform us-
'The borrower is also providing a PG in addition to the legal charge over the security. The borrower also owns an unencumbered property valued at £750k and jointly owns a further property with a self-asserted EMV of £2.5m with a £1m 1st charge mortgage.'
I have been informed that for those with access to BC site that the valuation report for the new Wolverhampton BC loan contains contact details for the borrower.
it looks like there is a enouth money left for the repossession and sale to cover all the interest and legals. Please let me know what I am missing here? 
