pom
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Post by pom on Oct 28, 2017 8:48:41 GMT
So cash back flippers are a bad thing because it means you can't instantly sell your parts....but if you're not a flipper why would you want/need to sell them straight away anyway?! (Only bought what I wanted)
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seeingred
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Post by seeingred on Oct 28, 2017 9:55:00 GMT
Only bought what I knew I likely couldn't get rid of for a long time.......
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Post by elephantrosie on Oct 28, 2017 11:11:09 GMT
only bought what my bank account allows.
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Post by mrclondon on Nov 26, 2017 16:54:10 GMT
Charges against two land titles and the debenture are now visible at companies house against the company number MT provided in their 10th Oct "Supplementary Information". Section 11.1 of the VR referenced only one of two planning applications for change of use permissions, but both are referenced on pages 30 & 31 of the VR pdf. The latter apparently had a condition 8 relating to the ventilation and extraction system for the restaurant that needs discharge by the council. An application to discharge this condition (for ref replace last 3 letters of ref on page 31 of pdf with CN08) was validated by the council on 17th November 2017 (and hence is still under consideration). Link to Newcastle-Under-Lyme Planning PortalThere is still nothing on their website / facebook / twitter feeds relating to an opening date, but that is possibly now dependent on them completing the planning paperwork.
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jlend
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Post by jlend on Dec 11, 2017 10:37:53 GMT
Charges against two land titles and the debenture are now visible at companies house against the company number MT provided in their 10th Oct "Supplementary Information". Section 11.1 of the VR referenced only one of two planning applications for change of use permissions, but both are referenced on pages 30 & 31 of the VR pdf. The latter apparently had a condition 8 relating to the ventilation and extraction system for the restaurant that needs discharge by the council. An application to discharge this condition (for ref replace last 3 letters of ref on page 31 of pdf with CN08) was validated by the council on 17th November 2017 (and hence is still under consideration). Link to Newcastle-Under-Lyme Planning PortalThere is still nothing on their website / facebook / twitter feeds relating to an opening date, but that is possibly now dependent on them completing the planning paperwork. Just to add the response from the council on the planning website said they were unable to approve the submission on the 17th as there was insufficient information provided. There doesn't seem to be any additional information posted by the applicant yet from a quick glance so I guess the council is still waiting on information to consider MoneyThing any news on this or when the site is likely to open?
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james100
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Post by james100 on Dec 11, 2017 14:25:10 GMT
An update has just been posted on the support tab that answers some of these questions.
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Post by SophieThing on Dec 11, 2017 14:27:41 GMT
Afternoon,
An update has just been added to the platform.
Kind regards
Sophie
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Post by Deleted on Dec 11, 2017 15:25:53 GMT
Is this the deal where the main investor lives in Monaco and now has "this left them short of funds" or was it someone else?
Well, the good thing is MT is very transparent, but I have to admit the old punt pole just came out.
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stokeloans
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Post by stokeloans on Dec 11, 2017 15:30:00 GMT
Is this the deal where the main investor lives in Monaco and now has "this left them short of funds" or was it someone else? Well, the good thing is MT is very transparent, but I have to admit the old punt pole just came out. Monaco is correct
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Post by eascogo on Dec 11, 2017 17:25:01 GMT
Is this the deal where the main investor lives in Monaco and now has "this left them short of funds" or was it someone else? Well, the good thing is MT is very transparent, but I have to admit the old punt pole just came out. Hints of a problem and the panic button is activated. Already over 100k selling. Is this a loss of confidence in the security or just to avoid liquidity issues? If just the latter I am ready to invest further.
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Post by Deleted on Dec 11, 2017 17:38:23 GMT
Is this the deal where the main investor lives in Monaco and now has "this left them short of funds" or was it someone else? Well, the good thing is MT is very transparent, but I have to admit the old punt pole just came out. Hints of a problem and the panick button is activated. Already over 100k selling. Is this a loss of confidence in the security or just to avoid liquidity issues? If just the latter I am ready to invest further. You may be right and certainly MT are a confident P2P portal. It just worries me when a person who is "experienced" at this sort of work and a history of wealth, mucks up a restaurant planning issue and then needs some more money to sort it out, plus of course all the shop owners who have not moved before Christmas, this is a mess. Will it get sorted out, probably, but I'm reducing my holding until it flushes itself out.
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stevio
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Post by stevio on Dec 11, 2017 18:18:03 GMT
Never invested in this to start with and certainty not going to now
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r00lish67
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Post by r00lish67 on Dec 11, 2017 18:58:46 GMT
Never invested in this to start with and certainty not going to now I agree. This was a whiffy proposition before and the stench is now overpowering, and not just because of a lack of ventilation in the restaurant. I think the more interesting question than whether people are now selling because of the security or liquidity (it's both), is why they held it in the first place. I can only imagine because of a mix of the cashback and then scarcity of loans inducing a solid dose of inertia and the endowment effect. It'll probably all sell out again for the same reasons (minus CB). Still, when you have an "experienced commercial property developer" borrower who was apparently unable to foresee exit costs of their previous facility arising and who just needs another £177k on top of their 2 month old £2.37m facility despite having "sufficient additional sources of income derived from other investments and resources" to carry on on their own steam, what's to worry about? After all, if all goes to plan, then they'll start trading bang in the peak season for credit card repayment, in late January. ,
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hazellend
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Post by hazellend on Dec 11, 2017 19:29:56 GMT
Never invested in this to start with and certainty not going to now I agree. This was a whiffy proposition before and the stench is now overpowering, and not just because of a lack of ventilation in the restaurant. I think the more interesting question than whether people are now selling because of the security or liquidity (it's both), is why they held it in the first place. I can only imagine because of a mix of the cashback and then scarcity of loans inducing a solid dose of inertia and the endowment effect. It'll probably all sell out again for the same reasons (minus CB). Still, when you have an "experienced commercial property developer" borrower who was apparently unable to foresee exit costs of their previous facility arising and who just needs another £177k on top of their 2 month old £2.37m facility despite having "sufficient additional sources of income derived from other investments and resources" to carry on on their own steam, what's to worry about? After all, if all goes to plan, then they'll start trading bang in the peak season for credit card repayment, in late January. , The good news is that there will also be another christmas in 2018 and every year after
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jlend
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Post by jlend on Dec 11, 2017 19:39:14 GMT
My thoughts for what it is worth on the building and business, putting aside the financial control and project management issues of the renovation.
I don't think the general idea of the antiques centre is a bad one. Our house is full of things from places like this and we have bought and sold things from centres like this many times. I appreaciate it's not for everyone.
They appear to have plenty of demand from dealers to fill the building and I assume these dealers have a reasonable knowledge of the local area which I don't. In my experience many of these centres have little or no parking of their own so the site doesn't seem too bad from my limited knowledge.
I do have a concern that they seem to be spending a huge amount of money on renovating the building and it is taking a very long time. Perhaps it's being overly renovated given the purpose of the building. I would hope MT would be checking this very carefully now.
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