vmail
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Post by vmail on May 16, 2017 19:48:27 GMT
Is it me who thinks this should have been written differently? You can't bid more than £3,250 in the first or second 24 hours anyway.
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vmail
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Post by vmail on May 16, 2017 20:02:43 GMT
Can you also see my imaginary friends?
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hazellend
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Post by hazellend on May 16, 2017 20:16:37 GMT
This loan is only for a couple of months, so I'm probably out. I'd rather go for the other student property that's moving to collateral
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am
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Post by am on May 16, 2017 20:41:30 GMT
As I recall there were i's to be dotted and t's to dashed with regards the planning permission when the loan was floated at Lendy. The Edinburgh planning portal is currently down, so I can't look into this myself; can MoneyThing provide any reassurance that the final planning obstacles have been overcome?
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Post by d_saver on May 17, 2017 7:18:41 GMT
As I recall there were i's to be dotted and t's to dashed with regards the planning permission when the loan was floated at Lendy. The Edinburgh planning portal is currently down, so I can't look into this myself; can MoneyThing provide any reassurance that the final planning obstacles have been overcome? Same here. MoneyThing, this might prevent some people investing, so if you do have the planning docs perhaps you could post them in the portal with the loan? Thanks.
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am
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Post by am on May 17, 2017 11:42:23 GMT
As I recall there were i's to be dotted and t's to dashed with regards the planning permission when the loan was floated at Lendy. The Edinburgh planning portal is currently down, so I can't look into this myself; can MoneyThing provide any reassurance that the final planning obstacles have been overcome? Same here. MoneyThing , this might prevent some people investing, so if you do have the planning docs perhaps you could post them in the portal with the loan? Thanks. There is an argument that the borrower wouldn't be seeking funds to carry out demolition work if the planning issues weren't all resolved, but I'm not convinced that that is a safe assumption, so I want to reassure myself with more recent information from the planning process. When first announced I was concerned about the 30% jump in the loan amount compared to PBL145 at Lendy. The statement from MT that the loan includes funds for demolition reassures me on that point. I reckoned (rightly or wrongly) that planning risk was the biggest risk on PBL145. Comparing the two loans, the higher interest rate is a plus point for MTAU712, the increased LTV and short duration are minus points; without confirmation of reduced planning risk as a second plus point I expect that I will reduce my participation in MTAU712 compared to PBL145.
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Post by d_saver on May 17, 2017 11:54:04 GMT
Me neither. It's unlikely of course, but I'd rather satisfy myself before investing. I'm not concerned about the duration on this. As it happens, I'm looking for something of this term. Development finance is supposedly lined up. Without reading the planning docs though, I cannot satisfy myself that something in there might not hinder the development finance going through in some way, then where are we... This is partly because the only planning info available to me (given the planning portal is broken) is contradictory. There are snippets of a couple apps that are slightly different (though for the same property) and one that is the refusal (that we know about of course, but I have not read yet). I doubt this will stop the loan filling, but if launching a loan quickly like this, it does prevent those of us who prefer to dig a bit from doing what they do and possibly making the decision to invest. Platform owners - It might be worthwhile saving planning docs to your portals for cases like this.
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gt94sss2
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Post by gt94sss2 on May 17, 2017 14:50:46 GMT
MoneyThingAm I correct in thinking there is still no sign of the valuation report? If not, is the loan still due to go live at 4pm?
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Post by MoneyThing on May 17, 2017 14:59:37 GMT
MoneyThing Am I correct in thinking there is still no sign of the valuation report? If not, is the loan still due to go live at 4pm? Afternoon. Frustratingly, the valuation has not yet arrived I'm afraid, although we are chasing. Whilst the loan is still going live at 4pm, I am about to send out an email to let lenders know that we would be happy to reverse out their bids before drawdown in the event that once they have read the report they would rather not participate. Regards, Ed.
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oik
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Post by oik on May 17, 2017 15:25:55 GMT
Hi Ed, Is it a case of the valuation having been done but is still being typed up? Have you been made aware of the contents in some detail?
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Post by MoneyThing on May 17, 2017 15:31:27 GMT
Hi Ed, Is it a case of the valuation having been done but is still being typed up? Have you been made aware of the contents in some detail? We have seen the full report, it just needed to be readdressed to MoneyThing (Security Trustee) Limited. Regards, Ed.
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ali
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Post by ali on May 17, 2017 15:38:50 GMT
Hi Ed, Is it a case of the valuation having been done but is still being typed up? Have you been made aware of the contents in some detail? We have seen the full report, it just needed to be readdressed to MoneyThing (Security Trustee) Limited. Regards, Ed. I have chosen not to invest in this loan today, but I am planning to do so tomorrow if the VR looks good. If you don't get the readdressed VR in today would it be possible to publish the un-readdressed one (with redactions if needed) so that I can study it overnight and make a decision?
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copacetic
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Post by copacetic on May 17, 2017 15:41:08 GMT
I think it shows there is a lot of faith in MT's due diligence when almost half a million pounds has been invested before investors have even see the valuation report!
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metoo
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Post by metoo on May 17, 2017 16:27:33 GMT
The planning portal is working now at citydev-portal.edinburgh.gov.uk for anyone who feels a need to look and knows the original planning reference. Appeal was approved Sept 2016 subject to 3 conditions, 2 of which must be approved in writing before the development work can begin.
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oik
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Post by oik on May 17, 2017 18:02:11 GMT
Edinburgh Valuation Report.pdf now uploaded.
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