twoheads
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Post by twoheads on Jan 18, 2017 17:18:36 GMT
Hi Paul64 & savingstream ,
Please read this post made by savingstream in March last year relating to questions about DFL001.
In particular section 2 (reproduced here):
2. What method will be used to decide how much of the total loan is released at each stage? Each tranche will be for £500,000 and will be payable to the developer on receipt of a satisfactory QS report. We will release this to SS investors for review before drawing down upon it.
Thanks to dodgeydave for pointing this out.
ADDITION: Thanks cooling_dude for also pointing this out in the OP and slapping me on the wrist for not reading it properly!
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twoheads
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Post by twoheads on Jan 17, 2017 15:28:47 GMT
Just drawn down - 15:27, 17th Jan
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twoheads
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Post by twoheads on Jan 17, 2017 9:35:26 GMT
Both just drawn down 09:34 17-Jan.
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twoheads
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Post by twoheads on Jan 13, 2017 12:28:16 GMT
Status just changed to DRAWN DOWN.
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twoheads
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Post by twoheads on Jan 12, 2017 18:55:55 GMT
So with Paul64 and George on the team, I presume we can expect John and Ringo fairly soon?
Sorry... couldn't resist.
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twoheads
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Post by twoheads on Jan 12, 2017 18:19:24 GMT
It's likely that he read this board, as part of his due diligence, before accepting the job, so presumably he knows what he's in for. In his DD, he may struggle getting past all the pseudonyms here.
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twoheads
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Post by twoheads on Jan 12, 2017 17:20:36 GMT
I do hope Paul64 is paying attention to these comments. Poor Paul64.
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twoheads
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Post by twoheads on Jan 12, 2017 16:57:13 GMT
And PBL097 - although that's no surprise with the new one going live today.
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twoheads
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Post by twoheads on Jan 12, 2017 16:53:39 GMT
Just disappeared from live loans.
I presume it's just repaid but I don't have any of this one.
EDIT - Sorry, only PBL113 -
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twoheads
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Post by twoheads on Jan 12, 2017 16:52:06 GMT
Status just changed to DRAWN DOWN. All going on with SS in the last half hour then.
157 & 158 go live 62 & 63 repaid 155 drawn down DFL013 gets a number and goes live tomorrow
PBL113 just paid back too.
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twoheads
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Post by twoheads on Jan 12, 2017 16:07:05 GMT
Status just changed to DRAWN DOWN.
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twoheads
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Post by twoheads on Jan 12, 2017 2:00:58 GMT
"IMO you should not make any assumptions whatsoever, its up to you the investor to asses the viability of the loan versus your own risk appetite. I currently have pre-funding set for one of the eight pipeline loans, the rest don't "feel right" to me, and looking down the live loans, i've invested in 12 of the last 30 released."So, we can't even assume that a VR, from a well known, Professional RIBA Valuer, is even reasonably accurate, or at the least notifies of very basic information - like PPs?!!!! This Loan was going to go live and many would have invested, rightly or wrongly, on the basis of the content of said VR. How would they have felt afterwards when all the past couple of days information surfaced I wonder? RIBA/RICS slip up is completely excusable. Gawd, I've done much worse (and not even spotted it myself). Four letter acronyms at this time of night are easily confused!
I do have some comments which may vaguely relate to your earlier posts on this thread (my opinions only):
Most of the valuations we get from SS are reasonably complete and accurate. [I've just set myself up for a load of...]
On this forum, I have learnt that where there are omissions and suspected inaccuracies in the SS information, these are usually highlighted by the members who are doing their own due diligence and, helpfully, sharing the information they find. This means that those of us who come here are in the privileged position of being better informed (probably) than those who do not.
Unfortunately, because we are a sceptical bunch, aiming at filling any holes in the VRs and other information produced by SS, much of what is discussed here seems on the surface to be negative. Scepticism and an inquiring nature are the norm. Positive stuff is nice to read and is a great encouragement (especially when, on rare occasions, it relates to one's own posts). But however great it is to read the positive stuff, it doesn't necessarily contribute to the knowledge base as much as the (often negative sounding) commentaries and questions raised.
I've done some SS bashing in the past but I'm trying to give it up (call it a new year's resolution... yes I'm still working on it). SS bashing doesn't help anyone. Sensible suggestions and questions in their direction are certainly more beneficial for all concerned. They do their job pretty well and we do ours. These days, I rarely judge the questions and the information generated on this forum as a negative comment on SS... I simply see this as information which helps us to make a sensible choice about investing (or not).
A typical SS bash starts with something like: "How would the investors feel if..." [and I've written a few of those] While it may be altruistic, it is not necessarily worthwhile to ask: how would other investors feel if... : That is not your problem. Instead, ask the completely self centred question: how I would feel if... and try to mitigate against any negative outcomes you may envisage, answering these scenarios on the forum so that everyone here can benefit.
Sorry... it's late as you said much earlier (and I'm on CET at the moment...)
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twoheads
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Post by twoheads on Jan 11, 2017 15:01:04 GMT
Better avoid that apostrophe ... don't want to identify the s**p*ct to easily. I left the apostrophe in as an eye test. You passed.
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twoheads
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Post by twoheads on Jan 11, 2017 14:56:32 GMT
cooling_dude, I may also have forgotten RIBA or is possibly SAA after these names.
There are probably many other letters which could also be appended.
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twoheads
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Post by twoheads on Jan 11, 2017 14:16:51 GMT
Well that's been ignored then. What projects has this borrower been successful in before his buying in 2012 of the properties under discussion for these two loans? Talking to yourself OG?
I have searched high and low and no, nothing I can find for M**k D******g prior to 2012.
As for trading under another name... S*****'**r P****t keeps coming up but there's no proof and again, nothing about the countless magnificent projects which should be linked to that name either.
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