B******* Land with Outline Planning (PL)

Just received the self-select email.
Min £2k!

But 'Self-select' accepts £1000 so what happens?

Following yesterday's loan, I have only £1K available to invest. Even if I had £2K I don't think I would be investing in this one.

Overall I think the interest rate offered does not suitably compensate for the additional inherent risks in this bridging loan.

IMHO, this one carries a lot more risks than the one drawn down yesterday and the additional interest on offer does not adequately reward bearing these extra risks.

I am particularly wary of valuations based on the "residual" method (which this one this) as they are based on a lot more assumptions compared to other methods and can be a lot sensitive to a change in any one.

Also, there are a number of other inherent risks as regards things which need to happen or not happen for this loan to be able to successfully redeem.

I think this one particularly needs a close and detailed read of the loan request summary and the valuation report before making one's decision.

8k across 2 accounts suggests £4k across each account and with a max £2k autobus this suggests £2k in each of Tranches A and B?
Is this correct?
Asking as I thought only Tranche A was allocated in Autolend always on, so wondering if this rule has now changed and Tranche B is now also allocated?

Autolend allocation is usually done two business days the funding (and self-select allocation) date.  So with the funding date being Thu 5th May, the Autolend would usually have been allocated on Tue 3rd May.

As in this instance Autolend allocation has been done earlier than this, it raises the question if someone had a 'cunning plan' to quickly 'grab' the funds from Friday's redemption before investors had sufficient time to react and withdraw it.

This combined with the timing of the publication of details of this new loan (only appeared under 'Pending' loans) only the day (and it seems like *after*) Autolend was allocated, makes one question PL's true motives, intentions and objectives.

Whilst this appears to be an 'urgent' loan arranged at short notice, the procedural timings of fund raising could and should have been dealt with better.

Happy to be corrected if I am missing something.

As PL no longer contribute to this forum, not expecting an official response.

I was expecting better from PL and going forward my expectations have been lowered following this.

Thanks for clarifying.
In the circumstances I think PL should cancel your unexpected allocation if you wish to do so and contact them.