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Post by chielamangus on Oct 11, 2017 10:31:40 GMT
Has anybody been able to find the planning application which apparently should be approved within the next few weeks? I've been on the planning portal and cannot find a trace.
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rs
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Post by rs on Oct 11, 2017 10:49:54 GMT
Same. Have sent a message asking for the planning application number - will share if I get a response. FS will have to cancel the loan & pay interest if the planning has not been submitted! I'm surprisingly hoping planning application has not been submitted.
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Post by chielamangus on Oct 11, 2017 11:03:25 GMT
Same. Have sent a message asking for the planning application number - will share if I get a response. FS will have to cancel the loan & pay interest if the planning has not been submitted! I'm surprisingly hoping planning application has not been submitted. Why would they have to do that? They provide no warranties as to the information provided by the borrower, do they?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Oct 11, 2017 11:23:00 GMT
Unusually, there is a bonus of 1% for an investment of just £1,000. I have checked with FS and it isn't a mistake.
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mikes1531
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Post by mikes1531 on Oct 11, 2017 11:50:19 GMT
They provide no warranties as to the information provided by the borrower, do they? Unusually, there is a bonus of 1% for an investment of just £1,000. I have checked with FS and it isn't a mistake. Is there a connection between those two? (Such as cause/effect.  )
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Post by chielamangus on Oct 11, 2017 11:54:34 GMT
Life seems to be full of non-existent planning applications at the moment - seems to be a hazard of the game.  |
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rs
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Post by rs on Oct 11, 2017 12:29:11 GMT
FS will have to cancel the loan & pay interest if the planning has not been submitted! I'm surprisingly hoping planning application has not been submitted. Why would they have to do that? They provide no warranties as to the information provided by the borrower, do they? FS is just an agent (so to speak) I think. However, if FS become aware that the borrower has wrongly stated key facts of the loan before the loan goes live then FS have 2 choices. Update the loan narrative and inform all lenders or cancel the loan. I would also assume 99% of lenders would consider planning application not being submitted a key fact especially since borrower states planning application to be approved in a couple of weeks time. Anyway I'm sure planning application has been submitted and we'll get this information soon.
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fp
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Post by fp on Oct 11, 2017 13:11:50 GMT
Also unable to find anything relative to this in planning.
Worthwhile noting this loan is related to another loan currently open for funding, plus a site in Hertfordshire and another in Liverpool, all for similar schemes
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Post by mrclondon on Nov 19, 2017 23:52:18 GMT
Has anybody been able to find the planning application which apparently should be approved within the next few weeks? I've been on the planning portal and cannot find a trace. No, but as a passing interest the neighbouring property (No. 6) did submit a planning application at the end of October for 6 houses (3 pairs of semis IIRC). Doesn't seem any connection to our borrower. Link on DD Central.
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trium
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Post by trium on May 3, 2018 14:03:30 GMT
"The borrower is in the process of refinancing this loan. We have sent redemption statements across to the new lender. Realistically we think this will take around 6 weeks."This was my first loan to become due for repayment after joining FS so it was psychologically important for me that it repaid/renewed on time. In fact my next two are also late (though not as late as some) so I think I'm getting an early indication of how things are going to be around here. Edit: - exact same update posted at same time for Ang***y Lodge, G*****t which I'm also in 
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Post by crystal on May 12, 2018 5:48:13 GMT
Similar update also for "Property in Southampton". There is also an update comment that plans have been submitted (for Soton property), though nothing visible on the LPA planning portal.
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rogerthat
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Post by rogerthat on Sept 24, 2018 16:02:31 GMT
348 days
09/07/2018
We are still waiting for refinance on this property.
11/06/2018
The refinance package was approved by the Board of the new lender 2 weeks ago. We believe refinance should take place within the next 2-3 weeks.
03/05/2018
The borrower is in the process of refinancing this loan. We have sent redemption statements across to the new lender. Realistically we think this will take around 6 weeks.
As 11 weeks and passed since the last update and before I allocate the birthday candle, has anyone any intel on this ?
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Post by mrclondon on Jan 25, 2019 21:01:48 GMT
fundingsecure - your update of 26th Sept 18 that the planning application is not visible on the planning portal remains valid. Can you confirm (via a loan update) that you have seen written evidence that the application has been received/validated by the council and that you are not simply relying on the borrower's word. (It feels distinctly odd that its claimed a decision is imminent when there apparently has been no mechanism for consultation comments to have been submitted by members of the public.) I have raised similiar concerns regarding the borrower's W*** D**** Rd, Liverpool loan here, and Southampton loan here.
It isn't really credible that 3 separate projects across 2 planning authorities should have display issues with the planning portal.
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Post by tomder on Sept 24, 2019 16:28:25 GMT
Hi,
I apologise if I have missed the thread on this, but I thought that there would be more discussion about the email sent out on Friday 13th September 2019 stating that the D**w**t Road, Liverpool loan is "unredeemed" and "irrecoverable". I presume that others received this email?
What are you views, what actions can we take, any predictions about possible outcomes?
Thanks.
Tom
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Post by mrclondon on Sept 24, 2019 16:44:59 GMT
Hi, I apologise if I have missed the thread on this, but I thought that there would be more discussion about the email sent out on Friday 13th September 2019 stating that the D**w**t Road, Liverpool loan is "unredeemed" and "irrecoverable". I presume that others received this email? What are you views, what actions can we take, any predictions about possible outcomes? Thanks. Tom The loan should in reality have been defaulted months ago. Now that it has, your tax statement for this year will include this loan as available for loss relief against other p2p income.
There is no other consequence of a loan actually being defaulted as far as lenders are concerned, but it does of course affect the platforms default stats. No discussion of this email (and a couple ? of others refering to loans to the same borrower) simply because the loan has been in default in practise for months if not with the formal flag that enables the loss relief on the tax statement.
Once a loan is more than a small number of months overdue, the probability of a full recovery is vanishingly small.
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