phil
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Post by phil on Jul 28, 2016 14:44:01 GMT
I see the Prestbury property was valued at £525k by a good Fellow of the Royal Institute of Chartered Surveyors back in February yet it's currently on the market for £450k, makes me wonder
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jul 28, 2016 18:00:36 GMT
First listed £595,000 on 27th May 2016 Asking price changes £549,950 7.6% Reduced on: 27th Jun 2016 £499,950 9.1% Reduced on: 1st Jul 2016 £449,950 10.0% Reduced on: 22nd Jul 2016 Read more at www.zoopla.co.uk/
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gurberly
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Post by gurberly on Jul 28, 2016 18:43:19 GMT
Wow! 25% price drop in 2 months!
...and looking at RightMove, well there is other stuff in that price bracket which frankly, appeals to me more. Hopefully the borrowers hotel sale goes through OK to pay this loan off.
... or would you walk away?
M
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fp
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Post by fp on Jul 28, 2016 18:49:25 GMT
Are we saying that the property is for sale?
Which, in real terms contradicts the description offered on the platform about a BTL mortgage: Borrower: The borrower on this loan is a limited company owned by a previous borrower of MoneyThing with respect to a facility against a Piper aircraft (MTAI149 & MTAI230). This additional loan from MoneyThing is being used to assist with business cash flow whilst a BTL facility is being finalised which will refinance the MoneyThing facility.
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Post by MoneyThing on Jul 28, 2016 19:33:37 GMT
Evening,
The borrower had listed the property on the market simply to get an idea as to appetite when weighing up whether to sell it.
The Estate Agent incorrectly listed it at £450k latterly, after they initially advised the borrower to market it at £595k. The borrower then reduced it to £550,000 feeling that this was a more realistic figure but not the £450k figure.
However, the listing should be removed within the next day or two as the borrower had formally taken it off the market and has just been offered a BTL mortgage from a mainstream lender which is now looking likely to complete within the next month.
Kind regards,
Ed
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Post by pepperpot on Jul 29, 2016 1:54:39 GMT
Spoilsport. Didn't give us chance to formulate a good conspiracy theory.
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ptr120
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Post by ptr120 on Jul 29, 2016 7:51:50 GMT
Evening, The borrower had listed the property on the market simply to get an idea as to appetite when weighing up whether to sell it. The Estate Agent incorrectly listed it at £450k latterly, after they initially advised the borrower to market it at £595k. The borrower then reduced it to £550,000 feeling that this was a more realistic figure but not the £450k figure. However, the listing should be removed within the next day or two as the borrower had formally taken it off the market and has just been offered a BTL mortgage from a mainstream lender which is now looking likely to complete within the next month. Kind regards, Ed If the loan does end early, is there a minimum amount of interest that lenders will be paid (eg. one month?) It would also be helpful if we could be notified of an early repayment as I don't check my account every day
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Post by MoneyThing on Jul 29, 2016 8:29:41 GMT
Evening, The borrower had listed the property on the market simply to get an idea as to appetite when weighing up whether to sell it. The Estate Agent incorrectly listed it at £450k latterly, after they initially advised the borrower to market it at £595k. The borrower then reduced it to £550,000 feeling that this was a more realistic figure but not the £450k figure. However, the listing should be removed within the next day or two as the borrower had formally taken it off the market and has just been offered a BTL mortgage from a mainstream lender which is now looking likely to complete within the next month. Kind regards, Ed If the loan does end early, is there a minimum amount of interest that lenders will be paid (eg. one month?) It would also be helpful if we could be notified of an early repayment as I don't check my account every day Morning. There is a minimum interest payment of 1 month. We can notify lenders if it redeems early. Regards, Ed.
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SteveT
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Post by SteveT on Oct 7, 2016 12:25:41 GMT
The 6 month Prestbury loan (MTAI381) looks to have gained a renewal tick box, although not yet the additional tranche (MTAI480)
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Post by MoneyThing on Oct 7, 2016 12:34:21 GMT
The 6 month Prestbury loan (MTAI381) looks to have gained a renewal tick box, although not yet the additional tranche (MTAI480) Afternoon. Both 381 & 480 should both have renewal buttons (perhaps try refreshing). Whilst I have been given every indication that the mortgage will be available on the 13th (to refinance both our loans), we are considering just applying a 7 day extension just in case there is any last minute delay. We will have a clearer picture on Monday as to whether the extension is necessary. Kind regards, Ed.
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SteveT
Member of DD Central
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Post by SteveT on Oct 7, 2016 12:36:20 GMT
The 6 month Prestbury loan (MTAI381) looks to have gained a renewal tick box, although not yet the additional tranche (MTAI480) Afternoon. Both 381 & 480 should both have renewal buttons (perhaps try refreshing). Whilst I have been given every indication that the mortgage will be available on the 13th (to refinance both our loans), we are considering just applying a 7 day extension just in case there is any last minute delay. We will have a clearer picture on Monday as to whether the extension is necessary. Kind regards, Ed. Ah, my mistake. I don't hold any of the additional tranche so, or course, wouldn't see the box!
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pom
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Post by pom on Oct 7, 2016 13:32:38 GMT
Went looking for the renewal boxes, forgetting I sold it last night to get some of the hall....must pay more attention
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ilmoro
Member of DD Central
'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 Oct 7, 2016 14:17:10 GMT
Went looking for the renewal boxes, forgetting I sold it last night to get some of the hall....must pay more attention You're not alone, did exactly the same last week with Sandbanks, complicated by that being a consolidation so they were in a different place anyway. Must of toggled different pages several times attempting to get them into an order that made them obvious. Even logged off/on before twigged.
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ilmoro
Member of DD Central
'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 Oct 7, 2016 14:23:00 GMT
So if it does renew does that mean we get one month's interest as per minimum term stated here? In which case, more of these one week extensions please MoneyThing If I sell it now, and manage to reinvest in the loan at rollover, do i count as new investor and then can I have one months interest?
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archie
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Post by archie on Oct 7, 2016 14:25:35 GMT
Easiest way for renewal boxes is on the main 'Loans' page, just order by the 'Renew' column so the arrow points downwards.
All boxes are now at the top of the list.
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