Doc
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Post by Doc on Oct 23, 2017 14:55:38 GMT
... and moments later it is withdrawn ... see update.
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registerme
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Post by registerme on Oct 23, 2017 14:56:29 GMT
So if I'm looking at the right thing it's been withdrawn. An update soon to be on MT's website (not there as I type). Funds haven't yet been returned.
hmmmm. Interesting times.
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bugs4me
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Post by bugs4me on Oct 23, 2017 14:57:49 GMT
So if I'm looking at the right thing it's been withdrawn. An update soon to be on MT's website (not there as I type). Funds haven't yet been returned. hmmmm. Interesting times. On there now under the loan details
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zendog
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Post by zendog on Oct 23, 2017 14:58:29 GMT
All details are in the 'Completed loans' section and money has been returned.
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Doc
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Post by Doc on Oct 23, 2017 15:02:14 GMT
Refund has just been credited.
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ding
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Post by ding on Oct 23, 2017 15:03:22 GMT
Wish I invested in this one now
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niceguy37
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Post by niceguy37 on Oct 23, 2017 15:06:23 GMT
I wish Mr Freedman had provided his opinions on the borrower earlier.
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Post by penguin on Oct 23, 2017 15:07:04 GMT
Dear me - what a carry on. Now if you would all like to take your returned funds and put them into MTBA822, we can get that over the line.....
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dovap
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Post by dovap on Oct 23, 2017 15:07:52 GMT
I wish Mr Freedman had provided his opinions on the borrower earlier. aye poor Ivor - so close for the comms
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archie
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Post by archie on Oct 23, 2017 15:09:47 GMT
Returned money moving into Newcastle loan, 9% left.
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Post by Deleted on Oct 23, 2017 15:11:25 GMT
I'm getting a lot of mixed messages here and I suspect we all should take a breath and try and come to some sort of conclusion tomorrow.
For instance, what are the purposes of tranches? I for one am now confused.
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jayjay
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Post by jayjay on Oct 23, 2017 15:13:16 GMT
Returned money moving into Newcastle loan, 9% left. perhaps this was the real subplot ...to get this one filled asap
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oldgrumpy
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Post by oldgrumpy on Oct 23, 2017 15:15:26 GMT
Mr P's mill project in Manchester looks far more interesting. Anyone know where the finance for that came from? ivorf41
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Post by mrclondon on Oct 23, 2017 15:19:15 GMT
I'm getting a lot of mixed messages here and I suspect we all should take a breath and try and come to some sort of conclusion tomorrow. For instance, what are the purposes of tranches? I for one am now confused. Yeah, me too. Putting the borrower history to one side, the key issue was the firesale value of the site as is without planning permission. (Less than the loan value IMO). Enough people presumably thought the security worth at least £800k without planning permission, which could take many months to conclude, thereby filling this bridging loan. The further (development) tranches would only be needed if planning consent was obtained, and with planning in place a residual value calculation would be valid, which would likely convince other lenders to participate.
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registerme
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Post by registerme on Oct 23, 2017 15:23:58 GMT
A shame though for the MT, the borrower, and lenders who believed in the project. Still, hopefully some lessons learned....
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