ding
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Post by ding on Oct 18, 2017 15:48:30 GMT
Of course people are topping up, this has a 50% LTV. Oh wait....
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r00lish67
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Post by r00lish67 on Oct 18, 2017 15:51:56 GMT
Someone has a bit of faith in this one - £52,000!!! Crikey, I hope that's not my pension fund That probably is someone's moderate punt, just like the rest of us putting in the old hundred quid. FS very regularly have £100k per loan investors participating in 13%+ loans. NB: I'm still not in this one, maybe later down the line.
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agent69
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Post by agent69 on Oct 18, 2017 18:18:33 GMT
Hmm. The one thing missing from NP's mea culpa was any reason why the criminals who were robbed did not retaliate, not even later when he became very wealthy. Could be a gangster movie about that one day I can just see it. Next taxi off the rank is a £500k loan to a borrower who's family has a colorful past, secured against the film rights to the borrowers life story.
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bababill
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Post by bababill on Oct 19, 2017 5:13:09 GMT
Thanks am I was just wondering from a financial perspective after looking over the borrowing companies previous account records. I'm presuming that any charge against a property, in this case MT's charge, gets settled before the companies own debt in the event that there were issues and the expected value of the asset was not realised. MT 1C will be primary on the security (no UN1s to worry about here!) ahead of any inter-co loans ie all creditors regarding this property will sit behind the 1C (except for our future recovery costs). I can't find anywhere on the Firkenhead loan description and reports that their are unilateral notices ranking ahead of us. Maybe there is also on this one. Are we expected to consult land registry documents for this issue also and not just to determine the purchase price? Thats ok; I just would like to know in advance as I need to create an account with the Land Registry. Two- A development company had options that rank ahead of us on the Firkenhead Loans.. Maybe there is also on this loan. A known unknown. How do we calculate this into the risk analysis? Three- We were told combined LTV for MoneyThing lenders will be capped at 69% throughout the course of the Firkenhead loan. Most importantly were the above priority rankings subtracted from this valuation? Or do you think the unilateral notices and development options were disregarded. We know the administrators are ranking the priorities ahead of BroadOak and MT.. This could happen in this loan also....Especially the any development options one might have that rank ahead of us. It is not a stretch too far as it is already happening in the Firkenhead loans. Again, its ok, i just need to find a way to investigate this further.
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applets
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Post by applets on Oct 20, 2017 7:00:27 GMT
The DD in this thread just demonstrates what this Board can achieve and the benefit for all p2p lenders. Sadly, the proposed DD Central is likely to dilute this benefit. By restricting the iterative process to a few, and posting a later summary to the many, the value will not be the same (other than to the members of the "DD Central club" who will of course have the opportunity to inform and shape their investment decisions ahead of everyone else).
Why not a private DD board for all forum members to access, contribute to and benefit from?
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averageguy
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Post by averageguy on Oct 20, 2017 7:37:36 GMT
The DD in this thread just demonstrates what this Board can achieve and the benefit for all p2p lenders. Sadly, the proposed DD Central is likely to dilute this benefit. By restricting the iterative process to a few, and posting a later summary to the many, the value will not be the same (other than to the members of the "DD Central club" who will of course have the opportunity to inform and shape their investment decisions ahead of everyone else).
Why not a private DD board for all forum members to access, contribute to and benefit from? totally agree ..as things stand it’s a step backwards imho
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applets
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Post by applets on Oct 20, 2017 8:49:29 GMT
The DD in this thread just demonstrates what this Board can achieve and the benefit for all p2p lenders. Sadly, the proposed DD Central is likely to dilute this benefit. By restricting the iterative process to a few, and posting a later summary to the many, the value will not be the same (other than to the members of the "DD Central club" who will of course have the opportunity to inform and shape their investment decisions ahead of everyone else).
Why not a private DD board for all forum members to access, contribute to and benefit from? This thread worked just fine didn't it? And when you say "all forum members" presumably you include the members who are also journalists, borrowers, platform reps, lawyers, litigants, etc? Presumably the DD Central members are being "vetted" in some way to enable sensitive information to be shared, but if it is not possible to have a private board that achieves this then we should indeed stay as we are. My concern is the formation of an "inner circle" from which the majority of p2p lenders are excluded.
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shimself
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Post by shimself on Oct 20, 2017 8:58:09 GMT
This thread worked just fine didn't it? And when you say "all forum members" presumably you include the members who are also journalists, borrowers, platform reps, lawyers, litigants, etc? Presumably the DD Central members are being "vetted" in some way to enable sensitive information to be shared, but if it is not possible to have a private board that achieves this then we should indeed stay as we are. My concern is the formation of an "inner circle" from which the majority of p2p lenders are excluded. There exists an "inner circle" today - the platforms who conceal the weaknesses in their offerings. If changes are made which go some way to ameliorating that then such changes are to be encouraged
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Post by spectra on Oct 20, 2017 9:33:09 GMT
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bugs4me
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Post by bugs4me on Oct 20, 2017 10:12:30 GMT
This thread worked just fine didn't it? And when you say "all forum members" presumably you include the members who are also journalists, borrowers, platform reps, lawyers, litigants, etc? Presumably the DD Central members are being "vetted" in some way to enable sensitive information to be shared, but if it is not possible to have a private board that achieves this then we should indeed stay as we are. My concern is the formation of an "inner circle" from which the majority of p2p lenders are excluded. The simplest way IMO would be to operate a 'pink pages' section like AC. I doubt though that the majority of platforms would agree to that scenario - they probably aren't particularly content with folks round here discussing some of their actions of what appears to be deliberately withholding mistakenly omitting material facts. DD Central may not be perfect but I feel you have to start somewhere and allow things to develop. I think most of us could have saved a great deal of time carrying out our own DD if we had greater access to the findings of other forum members without all those ******.
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m2btj
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Post by m2btj on Oct 20, 2017 13:19:39 GMT
Regeneration of towns & cities is proven to create wealth. If Bradford's rich architectural heritage can be redeveloped to its former glory it can put itself back on the map. The so called Northern Powerhouse could also see Bradford bang in the centre of a thriving regional economy. The country's economy is far too Londoncentric!
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Post by spectra on Oct 20, 2017 15:02:24 GMT
Regeneration of towns & cities is proven to create wealth. If Bradford's rich architectural heritage can be redeveloped to its former glory it can put itself back on the map. The so called Northern Powerhouse could also see Bradford bang in the centre of a thriving regional economy. The country's economy is far too Londoncentric! I agree with all you say especially regarding Londoncentric, unfortunately I’m not convinced that Bradford can be revived.
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seeingred
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Post by seeingred on Oct 20, 2017 15:16:19 GMT
My main reservation is what the building would be worth if the present venture ended as a very public and/or expensive failure. This is to my understanding not an area where anyone with any 'upmarket' pretensions would want to live.
What is the value of a site where the only venture for 30+ years (?) just failed, or stalled half way through when some marketing analysis sunk in?
An interesting borrower (one I could tolerate) but the figures don't add up for me, especially the lack of transparency over the million apparently spent already.
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easylender
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Post by easylender on Oct 21, 2017 14:13:39 GMT
I just want to say a big thank you to all the lenders who contributed to the excellent DD on this loan. As I see it the forum is working very well here and the a*******s, although preventing direct Googling, are a hindrance worth tolerating so that information can be more freely shared.
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Post by Deleted on Oct 21, 2017 14:44:06 GMT
M@@@@@@ m Mills is somewhere between two tatty parts of town and a notorious red light street with added pub with recent murders With little access to public transport, except into central B@@@@@ Mousey. There are worse places to live in B@@@@@@ Mousey but I wouldn't park a car in those. The development is too close to a dual carriage way/car show rooms/ shopping for me, but it has great access to a station. good restaurants etc and it is a "landmark" site. An old friend used to run M@@@@@@@@ m mills when it made stuff and he managed to get Pavaroti to sing there but it has gone down hill a lot since then. I too stuck with my original investment though...
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