elliotn
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Post by elliotn on Jul 26, 2018 15:34:07 GMT
Didn't plump for the first one, so didn't for this one. Left you lot to it . 50% ltv based on cost of capital 13%, 100% at 14% - perhaps cost is closer to 20% (and this particular project doesn’t appear to make any money at that rate) and perhaps you were right all along .
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elliotn
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Post by elliotn on Jul 26, 2018 15:24:41 GMT
What I would agree with is that it’s a shame those highly trusted, experienced and helpful board members no longer seem to frequent and post here any more, such as Cooling Dude etc. That is a real shame. Do you think they all escaped this and Herc or would have helped you do so? What did you think of oldgrumpy’s photos in this thread suggesting this was materially behind schedule?
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elliotn
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Post by elliotn on Jul 26, 2018 15:21:07 GMT
...I hate LY with a passion and I want them out of my life as soon as is physically possible... That is palpable ad nauseam.
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elliotn
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Post by elliotn on Jul 26, 2018 15:16:46 GMT
186 lenders of which 125 were less than 3,000 ablrate , looking at other posts are you able to get 6k across standard + ISA (excluding lenders impersonating partners etc against T&Cs)? I think it should be 3k per user but will open an ISA if that is not the case.
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elliotn
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Post by elliotn on Jul 26, 2018 6:50:15 GMT
Nay. Not in auto/isa.
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elliotn
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Post by elliotn on Jul 26, 2018 2:24:38 GMT
Once we've decided, I reckon there could be at least 3 BDO alumni. Well if there are I'm surprised none of them provided that information in their pitches. Whether it is technically a conflict of interest as former associates or employees I wouldn't know, but in the interests of transparency it should have been mentioned, as should any other real or potential conflicts of interest with the known parties. I do hope that BDO are checking such matters, wouldn't want to find, for example, a close associate of a borrower on the committee now would we - and just to be clear I am not suggesting there is or might be one. I haven’t finished DD yet but one self-declared, one may or may not be who mrcl was alluding to (haven’t checked that one yet!) and another was a historical tax/finance role who was more than likely discreet from the IP department but I’d prefer nominees to say even if only for lenders to dismiss on their evaluation.
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elliotn
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Post by elliotn on Jul 25, 2018 12:40:25 GMT
I've heard a rumour there may be an ex BDO staff member amongst them, not sure if thats a good or bad thing (if it is in fact the case). [/div][/quote]Once we've decided, I reckon there could be at least 3 BDO alumni.
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elliotn
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Post by elliotn on Jul 25, 2018 10:06:35 GMT
Read the letter, just a page or two - even The Beckams could manage that. I have read the letter. I was simply after some clarification from a forum master like yourself. Thats 2 smug answers you have given me now. Thanks for your help
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elliotn
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Post by elliotn on Jul 25, 2018 9:04:39 GMT
Is it now the case that we have to send in our proof of debt form? I think it mentions it in appendix D. If so is there a time limit on this? Read the letter, just a page or two - even The Beckams could manage that.
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elliotn
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Post by elliotn on Jul 25, 2018 3:01:31 GMT
I don't have a problem with it. However I could construct many democratic arguments against it. I wonder if a General election gave more weight to a rich persons vote than a poor person you would think that was ok. well, rich people may not pay more tax to the society. If in general election it is society tax contribution weighted, I wouldn’t have a problem either. The top 1% pay 30% income tax and majority of CGT, the poorest are net taxatiton recipients ie NHs, education, benefits/credits et al (c60% of the nation) - are you saying only the richest 40% net tax contributors should vote? As taxation is another iteration of the richest voting, can’t see that flying either.
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elliotn
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Post by elliotn on Jul 25, 2018 2:55:23 GMT
Read the thread, he bought an apartment. Sorry not got time to read 50 odd pages of garble. Who bought an apartment , The Beckhams? If you don’t have the time then don’t levy insinuating questions at other lenders that do make the effort for their investments.
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elliotn
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Post by elliotn on Jul 24, 2018 17:49:07 GMT
I look forward to seeing the lobbying here...
This demands a poll!
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elliotn
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Post by elliotn on Jul 24, 2018 17:00:31 GMT
I have had the sales figure confirmed to me in writing by the Administrator and by my solicitor. If you are still clinging to the hope that MT after all this time are going to put out an update saying the loan has been repaid in full then good luck with that. Can you explain how the administrator has confirmed all this to you personally. Why has he not confirmed this to everyone. You say you have your own solicitor involved in this as well. I presume you must have a least 5 figures involved in this loan then. Ouch.Sorry about that. One last thing. I presume you dont trust moneything one bit so why are earth are you involved with them? Read the thread, he bought an apartment.
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elliotn
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Post by elliotn on Jul 24, 2018 8:53:50 GMT
I'd like to see P2P platforms aligning valuations to distress sale values! Some of the valuations I have seen are plainly absurd & always assume a perfect development/sales scenario. In reality, bridging & development is fraught with risk & the auction sales room is the true arbiter of value! That is very true for lenders (who should machete 90D val’s for their default risk assessment) although we’d be left with no investments as developers would get no funding based on ltv’s of an auction room. Edit - x’d with SteveT
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elliotn
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Post by elliotn on Jul 22, 2018 11:50:48 GMT
In the three and a half years (ish) I've been p2ping this is going to be my largest loss by an order of magnitude. Mine too - if the haircut is about what I expect - all of B and a large chunk of A. You both escaped LsA? An aggressive 2% p2p for me (redeploying SSexit to my foolhardiness). Edit - thinking back RM light have had issues with the VR.
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