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Post by elephantrosie on Sept 10, 2017 12:14:25 GMT
you funny mr 12%. didnt ed send you a diamond, rather than chocy bar?
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justme
Member of DD Central
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Post by justme on Sept 16, 2017 7:13:46 GMT
there meant to be a final valuatkn report before fjnal drawdown according to the last update. I can not see it anywhere but nobody else seemed to ask about it either which makes me think I missed something- what is it ? Chocolate aside.
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Doc
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Post by Doc on Sept 18, 2017 13:50:17 GMT
Picked up a few of these on the secondary market, the latest update seems upbeat and suggests pre-sales are already sufficient to cover MoneyThings's loan on completion - 12% for a couple months looks ok.
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ben
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Post by ben on Sept 18, 2017 15:10:54 GMT
Picked up a few of these on the secondary market, the latest update seems upbeat and suggests pre-sales are already sufficient to cover MoneyThings's loan on completion - 12% for a couple months looks ok. The posts on Birkenhead were pretty upbeat till until it went into default. Unsure if MT had more information then they supplied but Broadoak did. As the administrators report clearly shows.
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r00lish67
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Post by r00lish67 on Sept 18, 2017 15:38:37 GMT
Picked up a few of these on the secondary market, the latest update seems upbeat and suggests pre-sales are already sufficient to cover MoneyThings's loan on completion - 12% for a couple months looks ok. The posts on Birkenhead were pretty upbeat till until it went into default. Unsure if MT had more information then they supplied but Broadoak did. As the administrators report clearly shows. Actually, that's not really true in my view. Last few updates were: "Progress is still being made although it remains slower than expected" "Progress is being made albeit slowly..."we have told them we will be making fortnightly visits unannounced to check progress". "Work continues. The connection of utilities has been delayed, which is likely to push the expected completion date back, possibly into May" Not my definition of upbeat..
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elliotn
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Post by elliotn on Sept 18, 2017 16:48:08 GMT
The posts on Birkenhead were pretty upbeat till until it went into default. Unsure if MT had more information then they supplied but Broadoak did. As the administrators report clearly shows. Actually, that's not really true in my view. Last few updates were: "Progress is still being made although it remains slower than expected" "Progress is being made albeit slowly..."we have told them we will be making fortnightly visits unannounced to check progress". "Work continues. The connection of utilities has been delayed, which is likely to push the expected completion date back, possibly into May" Not my definition of upbeat.. Birk was meant to be completed Q4 '16 and almost immediately went over budget and time (leading to a technical default within 2 months of going live). That did not really come across in BPF's updates either apart from some fairly reasonable sounding delays in Q2 '17 (with possible exception of monitoring to completion - I was redelpoying Ly so had to wait it out!).
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Post by badboyyardy on Sept 20, 2017 14:39:01 GMT
So I presume that its good news that there is a final tranche - however is it correct same end date of 22/11 as the others?
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archie
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Post by archie on Sept 20, 2017 14:55:17 GMT
So I presume that its good news that there is a final tranche - however is it correct same end date of 22/11 as the others? Build is expected to complete 3rd week in October, 22/11 is realistic.
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Post by badboyyardy on Sept 20, 2017 14:58:26 GMT
So only 2 months interest at best and getting paid last in case of problems..... Would have got me some of tranche 1 in SM but guess others were thinking the same.
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archie
Posts: 1,838
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Post by archie on Sept 20, 2017 15:01:32 GMT
So only 2 months interest at best and getting paid last in case of problems..... Would have got me some of tranche 1 in SM but guess others were thinking the same. All tranches rank equally.
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elliotn
Member of DD Central
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Post by elliotn on Sept 20, 2017 17:26:36 GMT
So only 2 months interest at best and getting paid last in case of problems..... Would have got me some of tranche 1 in SM but guess others were thinking the same. All tranches rank equally. T1 has retained interest although with term end so close that would only be a v marginal comfort.
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agent69
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Post by agent69 on Sept 20, 2017 18:15:34 GMT
So I presume that its good news that there is a final tranche - however is it correct same end date of 22/11 as the others? Build is expected to complete 3rd week in October, 22/11 is realistic. In the middle of July a representative of the platform said they were confident that completion would be achieved in about 6 weeks (end August). We are now told that it will be at least 13 weeks. Doesn't fill you with confidence.
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johni
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Post by johni on Sept 20, 2017 21:16:03 GMT
Build is expected to complete 3rd week in October, 22/11 is realistic. In the middle of July a representative of the platform said they were confident that completion would be achieved in about 6 weeks (end August). We are now told that it will be at least 13 weeks. Doesn't fill you with confidence. Where do you get 13 weeks from block A should be complete this week. Block B in 3 to 4 weeks. The loan has always ended on 13 November. There has been an explanation for the delay
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Post by badboyyardy on Sept 20, 2017 21:57:45 GMT
Evening, I would just like to clarify: Roof 1, block B - Is on and watertight. The final covering membrane starts Friday this week (slight delay due to a national shortage of insulation). Roof 2, block A - Trusses on and is watertight. Membrane to follow after block B is on. Two additional 'sparkies' on site at the weekend with a view of completing all electrical works within a week. I have to say that I have been impressed with the efforts the borrower is going to to ensure works will be completed in August. I would go as far as saying that if the build is not complete in August, I will give all participants in this thread to date a choccy bar*! Regards, Ed * This is not to be considered a bribe or any incentive to invest in the loan, simply to show the confidence the author has in respect to the progress of the project. In the event the author does have to 'eat his words' and buy said choccy bars, this will be undertaken at the personal expense of the author and not the company for which he is associated with. As quoted Moneything Ed himself stated above back in July - so definitely delayed and still awaiting my choccy Uni has already started if I was a student would I want to wait until Nov to move into my cushty new appartment - that one terms rent down already.
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johni
Member of DD Central
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Post by johni on Sept 21, 2017 7:00:04 GMT
Evening, I would just like to clarify: Roof 1, block B - Is on and watertight. The final covering membrane starts Friday this week (slight delay due to a national shortage of insulation). Roof 2, block A - Trusses on and is watertight. Membrane to follow after block B is on. Two additional 'sparkies' on site at the weekend with a view of completing all electrical works within a week. I have to say that I have been impressed with the efforts the borrower is going to to ensure works will be completed in August. I would go as far as saying that if the build is not complete in August, I will give all participants in this thread to date a choccy bar*! Regards, Ed * This is not to be considered a bribe or any incentive to invest in the loan, simply to show the confidence the author has in respect to the progress of the project. In the event the author does have to 'eat his words' and buy said choccy bars, this will be undertaken at the personal expense of the author and not the company for which he is associated with. As quoted Moneything Ed himself stated above back in July - so definitely delayed and still awaiting my choccy Uni has already started if I was a student would I want to wait until Nov to move into my cushty new appartment - that one terms rent down already. The block A should be complete this week so students should be able to move in next week. Block B 2 to 3 weeks later. There seems to be confusion with this and when the loan ends.
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