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Post by duncandive on Sept 10, 2015 18:14:49 GMT
Might as well start letting 'Ed' know how many of us are really interested. Lets see how this goes. Mods please feel free to delete this if I have over stepped the mark.
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paulgul
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Post by paulgul on Sept 10, 2015 18:16:19 GMT
Just replied with a Yes
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stevio
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Post by stevio on Sept 10, 2015 18:17:10 GMT
A poll would be good to add to this thread, how much would invest
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Post by duncandive on Sept 10, 2015 18:28:33 GMT
A poll would be good to add to this thread, how much would invest Fair point stevio , anonymous I take it.. Now who do we know that is good with creating 'polls'... My abilities being some what lacking
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ramblin rose
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Post by ramblin rose on Sept 10, 2015 18:33:45 GMT
Can't see the point really. Ed said he'd be keeping us up to date with a running total, and that would be more accurate than what just the forum members had to say, and only those who wanted to air their interest in public at that. Sorry if I'm being a wet blanket, but that's how it seems to me
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Post by solicitorious on Sept 10, 2015 19:38:06 GMT
Could be the biggest loan in the history of P2P?
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webwiz
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Post by webwiz on Sept 10, 2015 19:53:54 GMT
I have said yes, but this is conditional on DD when we have the details. I am surprised that the land is valued at £25m without planning permission. There must be something unusual about it. Also unclear why the borrower would need £3m in order to get planning consent.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 10, 2015 20:10:07 GMT
Could be the biggest loan in the history of P2P? Thats Wellesley 10.8 mil, they also have the previous largest 8.3mil. Probably largest loan structured through direct lending though
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Post by MoneyThing on Sept 10, 2015 20:46:49 GMT
Evening,
Just waiting on the green light from the mods before contributing to this thread.
(57 responses so far, totalling £1.3m).
Kind regards,
Ed
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paulgul
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Post by paulgul on Sept 10, 2015 21:55:57 GMT
My contribution is not even going to count as chicken feed then at that rate
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david42
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Post by david42 on Sept 10, 2015 23:24:23 GMT
Interesting idea. Nice loan to value ratio and nice interest rate. I assume Ed is cutting out the normal underwriting cost, leaving a higher rate to offer to us.
I have said yes. Before investing I will be wanting to see: - what does the security look like if the project goes wrong? (i.e Do they need to demolish a £25m building to build the new building?)
- what interest does MoneyThing have to fight our corner if it goes wrong - what is MoneyThing's skin in the game?
- what happens if the loan is repaid late, and how likely is that? - will the loan fill promptly and get drawn down promptly? Our money could be left stranded for a long time if the loan fails to fill.
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star dust
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Post by star dust on Sept 11, 2015 1:14:59 GMT
My contribution is not even going to count as chicken feed then at that rate Likewise, but maybe that's one chicken between us then, and we know Ed's got lots of chicken to feed, so as that famous supermarket says (where we hope the chickens don't end up) - every little helps .
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Post by profunder on Sept 11, 2015 1:23:16 GMT
As I am not a MT member, I am not 100% sure on what this thread is about.
Do I assume there is a potential £10M+ loan against a £25M asset? If so whats the rate and terms? I might be interested in joining for purpose of this loan.
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pom
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Post by pom on Sept 11, 2015 7:18:50 GMT
As I am not a MT member, I am not 100% sure on what this thread is about. Do I assume there is a potential £10M+ loan against a £25M asset? If so whats the rate and terms? I might be interested in joining for purpose of this loan. There's a couple of options 3M for 6months bridging or 8.5M for 12months, at 1.5% per month against 25M security - I know Ed's waiting on mod approval to say more here but I guess you could email Moneything to find out more?
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jonbvn
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Post by jonbvn on Sept 11, 2015 7:51:27 GMT
As I am not a MT member, I am not 100% sure on what this thread is about. Do I assume there is a potential £10M+ loan against a £25M asset? If so whats the rate and terms? I might be interested in joining for purpose of this loan. There's a couple of options 3M for 6months bridging or 8.5M for 12months, at 1.5% per month against 25M security - I know Ed's waiting on mod approval to say more here but I guess you could email Moneything to find out more? I am interested (who wouldn't be at 18%?). I have to ask why a bank would not lend with such a low LTV?
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