oik
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Post by oik on Dec 21, 2017 14:28:01 GMT
MoneyThing . In MT's FAQ the question is asked: "6. Could you clarify the connection of one or more directors of the borrowing company with the developers of the Liverpool flats [(MTAV714) Residential Development in Liverpool?" (ie P*********s) The reply was: "Two of the directors on this loan originally bought the site in Liverpool, obtained planning before selling it on to the current borrower on MTAV714. The loans are unconnected." But the Sales Brochure says: " C**** B*******. Currently developing: • Liverpool P*******s (250 units with retail and NCP car parking)"So could Moneything clarify whether Mr B******** is still connected with the Liverpool development, as stated in the brochure. or not, as stated in the Moneything FAQ. Are there any other connections with the notorious stalled Liverpool developments? It would obviously be helpful to know who sold what to whom, and equally, who bought P*** H**** from whom? What of the others who were directors concurrently with Mr B******** at P*******s until they all resigned (including L** S******, he of the Liverpool Echo reports)?
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Post by harryvederci on Dec 21, 2017 15:13:26 GMT
All over the news today;
Ground rents to be set at zero for all new long leases on both houses and flats...
...The Communities and Local Government Department said that legislation would be introduced as soon as possible subject to the availability of parliamentary time.
Thats £536k off the GDV of this one, how does it impact the market value MT?
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m2btj
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Post by m2btj on Dec 21, 2017 16:09:42 GMT
Let's be clear, leaseholds banned on NEW-build houses.
Anyone buying a flat - or a house - on a lease of longer than 21 years will also not have to pay any ground rent. This legislation will be aimed at stopping NEW build developers selling the ground from under the householder. Bellway Homes (and others) were architects of this outrageous & unethical practice. Ground rents were sold to third parties as a commodity to maximise profits & the third party would then increase the ground rent to the householder. The average time for legislation to go through Parliament in England is approx 12 months. I can't see it being any quicker with the raft of Brexit legislation currently going through.
Poses some interesting questions for the world of P2P going forward.
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treeman
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Post by treeman on Dec 22, 2017 10:15:40 GMT
2 big bites this morning and it's fully funded.
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zendog
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Post by zendog on Dec 22, 2017 11:01:42 GMT
2 big bites this morning and it's fully funded. I wonder how long it will be for it to start appearing on the SM?
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treeman
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Post by treeman on Dec 22, 2017 11:13:17 GMT
2 big bites this morning and it's fully funded. I wonder how long it will be for it to start appearing on the SM? New Year maybe - most are probably looking to be as close to fully invested as possible across the Holiday quiet period.
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hazellend
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Post by hazellend on Dec 22, 2017 11:40:18 GMT
I wonder how long it will be for it to start appearing on the SM? New Year maybe - most are probably looking to be as close to fully invested as possible across the Holiday quiet period. Why?
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treeman
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Post by treeman on Dec 22, 2017 14:22:27 GMT
New Year maybe - most are probably looking to be as close to fully invested as possible across the Holiday quiet period. Why? Makes sense to keep the non-earning cash balances low where possible at this time of year. Any of the recent repayments temporarily homed are likely to be freed-up once deal-flow resumes come January. Not a comment on the loan specifically and pure speculation on my part
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Post by mrclondon on Apr 7, 2018 11:25:31 GMT
Companies house records show that a second (?) charge was registered against the property on 21st March 2018 in favour of a charity. Full details on DD Central for those with access.
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up
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Post by up on Apr 7, 2018 12:02:21 GMT
MoneyThing . In MT's FAQ the question is asked: "6. Could you clarify the connection of one or more directors of the borrowing company with the developers of the Liverpool flats [(MTAV714) Residential Development in Liverpool?" (ie P*********s) The reply was: "Two of the directors on this loan originally bought the site in Liverpool, obtained planning before selling it on to the current borrower on MTAV714. The loans are unconnected." But the Sales Brochure says: " C**** B*******. Currently developing: • Liverpool P*******s (250 units with retail and NCP car parking)"So could Moneything clarify whether Mr B******** is still connected with the Liverpool development, as stated in the brochure. or not, as stated in the Moneything FAQ. Are there any other connections with the notorious stalled Liverpool developments? It would obviously be helpful to know who sold what to whom, and equally, who bought P*** H**** from whom? What of the others who were directors concurrently with Mr B******** at P*******s until they all resigned (including L** S******, he of the Liverpool Echo reports)? CH shows recent registration Jun 2017 re-appointment Mr B******** as director at P*******s linking this one with (MTAV714)
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jlend
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Post by jlend on May 23, 2018 7:37:09 GMT
I see the loan details mention loan covenants related to sales milestones.
Given the slow reservations and no mention of exchanges I wonder if any of these have been broken.
I wonder if the build out is slower than planned as the exchanges were part funding the fit out.
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star dust
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Post by star dust on May 23, 2018 13:25:02 GMT
There is an update on site that appeared earlier today it seems actual reservations have changed little in the last month, but there are other 'developments' and the update includes the comment that the borrower is reviewing the 'sales' strategy and there will be further clarity on which route to take by mid-June.
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Post by brummiefred on May 23, 2018 18:53:58 GMT
There has (sic) now been 17 reservation fees paid with 8 more expected this week, BUT there is also interest from a buyer who wishes to purchase all 59 apartments..........so when is a a reservation not a reservation? And that's without the interest from a hotel/mixed development requiring changes to planning!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 23, 2018 22:59:37 GMT
There has (sic) now been 17 reservation fees paid with 8 more expected this week, BUT there is also interest from a buyer who wishes to purchase all 59 apartments..........so when is a a reservation not a reservation? And that's without the interest from a hotel/mixed development requiring changes to planning! When it comes with a cancellation clause & a refundable deposit?
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jlend
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Post by jlend on Jun 29, 2018 12:16:22 GMT
No mention of any exchanges to date - just reservations.
Progress over the last few months
March - 10 reservations, additional 25 expected within the next 2 to 3 weeks April - 16 reservations, additional 4 expected in the next week May - 17 reservations, additional 8 expected in next week June - 19 - further 2 expected in next week
So between 1 and 6 reservations a month. It looks like the majority of expected reservations fall through for whatever reason.
Hopefully things will pick up for the developer
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