michaelc
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Say No To T.D.S.
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Post by michaelc on Jul 4, 2017 20:48:33 GMT
Is this a first legal charge ? Why don't they make it clear??
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michaelc
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Say No To T.D.S.
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Post by michaelc on Jul 7, 2017 19:17:29 GMT
I'm pretty sure I would have noticed that ! Maybe they saw my email before you did and updated it...
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michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Jul 7, 2017 21:02:28 GMT
I do trust you and trust you far more than my own faculties! I obviously made a mistake! Thanks for the other info too.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jul 18, 2017 20:37:23 GMT
Very slow to fill this little monkey, only 44% @ 21:33 on 18/7/17, and with an LTV of "44.58%"?!!!!! Seems The DDrs have bargepoled it?  |
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rs
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Post by rs on Jul 18, 2017 21:48:51 GMT
Very slow to fill this little monkey, only 44% @ 21:33 on 18/7/17, and with an LTV of "44.58%"?!!!!! Seems The DDrs have bargepoled it? seems like a good loan so expect this will fill if cashback offered or rate increased to 14%.
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r1200gs
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Post by r1200gs on Jul 19, 2017 9:10:19 GMT
Very slow to fill this little monkey, only 44% @ 21:33 on 18/7/17, and with an LTV of "44.58%"?!!!!! Seems The DDrs have bargepoled it? Then again perhaps there's a growing recognition that fundingsecure (DD) Don't Do properties/land particularly well and as a consequence there's a shrinking appetite among investors? All I can say is the appetite of this investor has shrunk to zero. Prior to the Whitehaven fiasco, I might have taken a fair chunk of this one. I can't be alone.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jul 19, 2017 9:33:14 GMT
Still only 44% @ 10:32 today 19/7/18, I've made my decision. 
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Post by badboyyardy on Jul 19, 2017 10:28:47 GMT
I'm pretty sure I would have noticed that ! Maybe they saw my email before you did and updated it... Trust me - I started DD on this loan as soon as it appeared (09:34 pm - Tuesday), and it was definitely there - it was one of the first things I jotted down Interesting to note that PS (the previous owners) have a charge against the security, presumably because they have something to benefit from the end result. In any case, no doubt it will sit behind the FS charge (if this ever fills!) Can you expand on PS? So this sits behind them and still no security at end of day?
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mikes1531
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Post by mikes1531 on Jul 19, 2017 11:12:20 GMT
Very slow to fill this little monkey, only 44% @ 21:33 on 18/7/17, and with an LTV of "44.58%"?!!!!! Seems The DDrs have bargepoled it? It's a huge loan for FS. So the percentage funded might be low, but they've raised over £600k so far. Not that that helps much, as they still need to find another £800k. And this is just the first tranche of a £3.2M loan! Will FS be able to fund all that? And can they afford all the interest they'll have to pay out to investors before the loan is activated and they start earning interest from the borrower? I'm somewhat surprised they didn't break this loan into tranches the way they did with the £1M Land in Lytham St Annes loan, but perhaps the loan the borrower is trying to refinance has to be repaid in one lump rather than in chunks.
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09dolphin
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Post by 09dolphin on Jul 20, 2017 12:13:40 GMT
I think FS are being a little too ambitious in trying to fund this loan taking account the present situation. In the past FS have offered terms that persuaded lenders to fund large loans without significant difficulty, but that was before the rate of defaults and late payments of 6 months+ became evident. It is my belief that if these loans had been managed effectively investor confidence would still be evident by the money being lent. I also believe the Whitehaven loan has had a significant effect on investor confidence and that FS will find there is a significant cost of their mismanagement.
It's a shame that FS don't appear to recognise the effect that the number of defaulted loans and loans such as Whitehaven have had on investor confidence but there is nothing anyone do about that. It's their commercial decision and all investors can do is hope that FS manage the situation more effectively than they have historically.
FS really do need to take whatever steps they can to install confidence or this P2P lender is unlikely to survive long term.
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Monetus
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Post by Monetus on Jul 20, 2017 13:19:23 GMT
Confidence in fundingsecure has totally ebbed away. If we saw positive outcomes for Boatyard, Power Boat, Whitehaven, Wind Turbine etc it would most certainly return. |
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rs
Member of DD Central
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Post by rs on Jul 20, 2017 20:45:17 GMT
Still think this is a good loan. Just need to increase rate or give cashback FS to get it fully funded.
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chunkie
Member of DD Central
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Post by chunkie on Sept 22, 2017 13:23:30 GMT
I couldn't find an existing thread on this loan, is there one? I did find a 2013 press article which reads "A FIRE damaged mansion has (already) been transformed into luxury houses in a remarkable restoration project. Former nursing home G**********h House, a Grade II listed Victorian building in A******e, was wrecked by arsonists five years ago. Now developers have turned it into townhouses and built six more exclusive houses in the grounds, now named G**********h Park".
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Post by mrclondon on Nov 21, 2017 23:50:38 GMT
The full planning application ref 0/4**** (see VR page 10 of pdf for unredacted ref, or link on DDC) was approved by Conwy with conditions in April 2017. The decision document attached to the planning application details the conditions, some of which appear to require discharge before development can start. However, there are no obvious additional applications to discharge the conditions. And yet from FS we gather development has started. |
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edward
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Post by edward on Nov 22, 2017 9:08:21 GMT
But this time there appears to be photographic evidence...
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