shimself
Member of DD Central
Posts: 2,563 
Likes: 1,171
|
Post by shimself on Nov 12, 2017 13:06:43 GMT
...I'm not happy with what has happened with some loans which appear to be about DD of the borrower, not the project. ... If the borrower has a dodgy past then it would take a very solid security and an extraordinary level of DD (such as being sure that the property is changing hands at an open market price, not an inflated price from a relative for example). Too much trouble.
|
|
|
|
Post by GSV3MIaC on Nov 12, 2017 13:27:10 GMT
/personal view
Yep, if the borrower is rated 'dodgy', then you have to suspect that his lawyer, accountant, and valuer (in many cases the borrower seems to appoint a valuer, or supply a valuation) are likely 'no better than they should be' either. There are several platforms who have worked this out by losing considerable sums (either already, or 'are about to'). Making a secure loan to a dodgy borrower makes 'nailing a jellyfish to the wall' look relatively trivial .. and of course any personal wealth backing the loan is spectacularly mobile.
If someone has regularly cheated customers, HMRC, suppliers, and banks, why would we suppose they have a soft spot for unsophisticated consumer lenders and naive P2P platforms?
|
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on Nov 12, 2017 15:30:42 GMT
Totally agree with the above post by GSV3
|
|
|
|
Post by moneymakingmoney on Nov 12, 2017 16:24:20 GMT
Cheers, I'll look it up. I rarely look at non EU threads.
|
|
radar
Member of DD Central
Posts: 108
Likes: 63
|
Post by radar on Nov 12, 2017 16:54:26 GMT
Is some of this information intended to be passed on to us lesser mortals or is it to be kept for the elite long term posters. I cannot see that I will be joining you any time soon, I still have a long way to go
|
|
DDCentral
Member of DD Central
Posts: 32
Likes: 14
|
Post by DDCentral on Nov 12, 2017 17:09:01 GMT
|
|
nick1000
Assetz Capital shareholder
Posts: 18
Likes: 3
|
Post by nick1000 on Nov 13, 2017 12:18:43 GMT
I’m certainly still waiting for my chance to be able to contribute. Can’t be ruled out that I won’t at some point (!) If it proves successful and the forum doesn’t close, then I think there’ll be lots of things people can do to help out and pool resources, without being any kind of expert on DD or anything else for that matter. DD shouldn’t just be for the loan start it should continue through the life of the loan. The more eyes there are to watch and look out for changes the easier it becomes and the more will be gained. Just a couple of examples (there are many more), I may be wrong, but I understand company house alert notifications are restricted to 10 per person; there are an awful lot of companies involved in the loans, let alone connected companies that might be pertinent to the bigger picture. If these could be divided up so each take their share, then the collective data pool will be that much richer. Then there are cost items like land registry documents, an insignificant £3 a go you might think, well, someone posted the maths somewhere once, and if you’re only allocated a small slice of a loan or you are not a BH or even a medium one, it’s simply not worth it. I’ve never bought any for DD, if I really think it’s necessary I wouldn’t invest in the loan. However, I might be prepared to buy a couple if I could share in scores more because we’re all contributing. With regard to ongoing DD during the life of a loan, could we all be eyes and ears on the ground to monitor developments? We may not be personally involved in every loan on every platform, but, if a property or business is in our neighbourhood, we could still make the occasional drive by - perhaps even take a photo. But presumably the locations of premises could only be revealed on the DD board, so that service could only be rendered by those who'd been admitted.
|
|
|
|
Post by GSV3MIaC on Nov 13, 2017 14:15:06 GMT
re: Photos ..
There's (afaik) no problem with posting progress pictures on the main boards as long as they are only linked to a loan number ( PBL XYZ, MTZZ XXX, etc) .. or just posted in the appropriate thread. Do not post photos which show the exact
location (geotagged, street name/number obvious, showing phone number of the occupant, etc.). Several folks already do this across many different platforms, and there have only been a couple which needed things blotted out before they were acceptable.
|
|
shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
|
Post by shimself on Nov 13, 2017 14:25:37 GMT
re: Photos .. There's (afaik) no problem with posting progress pictures on the main boards as long as they are only linked to a loan number ( PBL XYZ, MTZZ XXX, etc) .. or just posted in the appropriate thread. Do not post photos which show the exact location (geotagged, street name/number obvious, showing phone number of the occupant, etc.). Several folks already do this across many different platforms, and there have only been a couple which needed things blotted out before they were acceptable. Did you see FC posted photos of the Lytham renewal just the other day to show that demolition work had been done? Progress!
|
|
nick1000
Assetz Capital shareholder
Posts: 18
Likes: 3
|
Post by nick1000 on Nov 13, 2017 15:04:07 GMT
re: Photos .. There's (afaik) no problem with posting progress pictures on the main boards as long as they are only linked to a loan number ( PBL XYZ, MTZZ XXX, etc) .. or just posted in the appropriate thread. Do not post photos which show the exact location (geotagged, street name/number obvious, showing phone number of the occupant, etc.). Several folks already do this across many different platforms, and there have only been a couple which needed things blotted out before they were acceptable. My train of thought was that I don't mind gathering DD about loans on platforms that I'm not involved with (and therefore have no knowledge of), but are in my locality - but how would I know about them? If loans (across platforms) were grouped by area I might nip along to some of those nearby.
|
|
shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
|
Post by shimself on Nov 13, 2017 17:00:00 GMT
re: Photos .. There's (afaik) no problem with posting progress pictures on the main boards as long as they are only linked to a loan number ( PBL XYZ, MTZZ XXX, etc) .. or just posted in the appropriate thread. Do not post photos which show the exact location (geotagged, street name/number obvious, showing phone number of the occupant, etc.). Several folks already do this across many different platforms, and there have only been a couple which needed things blotted out before they were acceptable. My train of thought was that I don't mind gathering DD about loans on platforms that I'm not involved with (and therefore have no knowledge of), but are in my locality - but how would I know about them? If loans (across platforms) were grouped by area I might nip along to some of those nearby. maybe add first part of postcode to profiles and enable search? ( Won't affect me much being in France)
|
|
nick1000
Assetz Capital shareholder
Posts: 18
Likes: 3
|
Post by nick1000 on Nov 13, 2017 17:10:41 GMT
Where are profiles?
|
|
|
|
Post by GSV3MIaC on Nov 13, 2017 18:33:14 GMT
I think by profiles he meant things like 'PBL XYZ' .. you can easily add 'Coventry' (if it isn't already there) or CV43, if that doesn't map to too small an area (round here a FULL postcode won't get you within 2 miles of a place .. but then 2 miles ain't too far to walk, it's a 9 mile round trip to get a paper on Saturday). Alternatively I guess we could approach it the other way, and say 'I'm going to WV15 on Sunday, anything I should photograph while I am there'?'
|
|
shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
|
Post by shimself on Nov 14, 2017 15:17:33 GMT
see menu at top of screen between Members and Bookmarks
|
|
|
|
Post by GSV3MIaC on Nov 14, 2017 16:26:44 GMT
But doesn't that just show you about yourself? I guess you might mean the 'members' tab, from which you can select a member and see (some) details about them. I think adding new items to the member display (like where they live) would require Admin to do something, if not proboards themselves .. and that still wouldn't help if a member was visiting a particular area other than their home. |
|
