elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Apr 27, 2017 15:50:47 GMT
MoneyThing Once youre through customs and safely esconced in the limo/suite. Could you clarify the reference in the particulars to planning for 5 houses? I cant find any mention of this in the valuation or the planning applications; only two houses mentioned there. Prompt email from MT
|
|
|
Post by SophieThing on Apr 27, 2017 15:54:21 GMT
MoneyThing Once youre through customs and safely esconced in the limo/suite. Could you clarify the reference in the particulars to planning for 5 houses? I cant find any mention of this in the valuation or the planning applications; only two houses mentioned there. Hi ilmoro, Thank you very much for bringing this to our attention. You are correct the planning is for 2 houses and 29 park homes and not 5 houses as per the loan description. As you have probably seen we have sent an email update and I'm about to update the loan description. Any lender that wishes to cancel their Loan Commitment can do so before 12pm tomorrow and we will refund. Kind regards Sophie
|
|
|
Post by SophieThing on Apr 27, 2017 16:33:32 GMT
MoneyThing Once youre through customs and safely esconced in the limo/suite. Could you clarify the reference in the particulars to planning for 5 houses? I cant find any mention of this in the valuation or the planning applications; only two houses mentioned there. I've been digging further, and the result is that it's not clear to me that the planning permission for two detached homes is current. The extension granted 1/8/12 would have run out 1/8/15, unless crystallised by commencing development. So that's another point for MoneyThing to clarify. Hi am, Thanks for your question. I can confirm having checked with our solicitors and the planning is current. There was sufficient work done on the footings and this was accepted as being sufficient to crystalise the development. Kind regards Sophie
|
|
fogey
Posts: 171
Likes: 104
|
Post by fogey on Apr 27, 2017 18:29:11 GMT
Looks like the footwork did a very good job then. Guess there's more profit in smaller houses and even more in park homes too.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Apr 28, 2017 6:34:55 GMT
Is there another £5k up for grabs or is it all you like FFF at 10am?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 28, 2017 6:44:07 GMT
Is there another £5k up for grabs or is it all you like FFF at 10am? Launch email said "Max. Bid: £5,000 Bid Restriction Duration 24hrs" so looks like no bid limit after 10am
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Apr 28, 2017 12:09:06 GMT
Only £71k left - 2 very big bites a few mins ago - £32k and £42k seemingly by the same investor .
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Apr 28, 2017 14:00:48 GMT
Only 22k left.
Edit : All gone.
|
|
|
Post by MoneyThing on Apr 28, 2017 14:50:10 GMT
Afternoon,
Loan has now filled and loan completed with borrower (now marked as drawn down on the platform).
Thank you to all those who are participating in this loan.
Kind regards,
Ed
|
|
fogey
Posts: 171
Likes: 104
|
Post by fogey on Jun 23, 2017 17:04:42 GMT
Only £71k left - 2 very big bites a few mins ago - £32k and £42k seemingly by the same investor . Looks like there was a lot of overinvestment in this loan judging by the state of the sm at the moment ...
|
|
gnasher
Member of DD Central
Posts: 207
Likes: 146
|
Post by gnasher on Jun 29, 2017 15:28:53 GMT
There is now 11.05%(£172,450) of this on the SM. Anyone know why? If it is a few bh~s getting out of large positions i would say they have managed to spook the market.
|
|
|
Post by geraldine1210 on Jun 29, 2017 15:56:40 GMT
There is now 11.05%(£172,450) of this on the SM. Anyone know why? If it is a few bh~s getting out of large positions i would say they have managed to spook the market. The total on the SM has dropped considerably in the last few days.
|
|
fogey
Posts: 171
Likes: 104
|
Post by fogey on Jun 29, 2017 18:32:46 GMT
There is now 11.05%(£172,450) of this on the SM. Anyone know why? If it is a few bh~s getting out of large positions i would say they have managed to spook the market. The total on the SM has dropped considerably in the last few days. This was a very popular loan which sold out quickly, just before the SM ran into liquidity problems. Apparently one investor alone bought 74k quite near the end of the launch (see a few posts above) and this is probably typical of the BH activity at the time. There was a lot of confidence then that they would easily be able to sell on the SM as they chose. However this has obviously backfired on them as the SM is far less liquid now. Each day there is a steady trickle of buyers moving a few k, but as soon as it drops below 11% more sellers move back in and take the total back above 11% again so that it appears not to be moving at all. It is difficult to see how this situation will change in the near future as there appears to be far more overinvestment than the SM can handle and the BH are locked into a position from which they are continually trying to escape. Things would probably move more quickly if some of the sellers withdrew for a time but it looks as if they may be rather desperate at the moment so that no one is prepared to take this sensible initiative.
|
|
|
Post by sannytwist on Jun 29, 2017 20:05:52 GMT
So the rich dudes bought too much loans and couldn't trade them when they wanted to ?
|
|
|
Post by GSV3MIaC on Jun 29, 2017 20:16:52 GMT
It's an unwanted feedback loop - the slower things sell, the more 'into the future' people put things up for sale. When nothing is available, people hang on to what they have. There are only two stable states .. empty, and overfull... we are now in state #2.
People also, having a lot more choice, get picky about buying loans and want long dated, high rate, low risk, loans rather than 'whatever is available' .. lots of single-figure % loan parts available over ->there (at the competition). This one still looks reasonable to me (but maybe not to the tune of £74k chunks!).
|
|