Jeepers
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Post by Jeepers on Feb 6, 2018 22:08:17 GMT
It's a struggle to sell mansion houses (and castles  ) already built so it would be a nightmare finding a buyer for a plot of land to build one. If it's not PP to build a big housing development, it may as well just be a swamp! I'm out. |
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mikeymike
Member of DD Central
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Post by mikeymike on Feb 7, 2018 13:29:56 GMT
It's a shame that lendy don't show the pre-fund pot growing like they do on some of the other sites but it's probably a good job in this case. Zero investment by the pack is about the best dd there is.
I can only see this loan as potentially damaging to the platform.
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r1200gs
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Post by r1200gs on Feb 7, 2018 13:36:56 GMT
That said, the notorious property mogul, Mr N. Van Hoogstraatan, started building a mansion near Uckfield in East Sussex but then he got bored with the project and I think it's rotting away half finished. At least this was before the days of Lendy. Can just picture a lengthy thread on this one discussing whether the character of the borrower was relevant and if we should believe the lawyer's statements that the re-finance was finally just about to go through. Hah, yes! I don't think I was the only one that Lendy ignored and said the borrowers character didn't matter. Well is bloody well does now with millions in shortfall! As to this loan, you have to be kidding me.
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Post by shyinvestor on Feb 7, 2018 14:05:44 GMT
I think that the owner was a little optimistic to think that the "market for this land/property is restricted to perhaps one or two prospective purchasers". A single digit number beginning and ending with zero comes to my mind. The market for large and prestigious properties is not good at the moment, never mind a barren field.
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Post by pmac67 on Feb 13, 2018 10:41:20 GMT
It's a shame that lendy don't show the pre-fund pot growing like they do on some of the other sites but it's probably a good job in this case. Zero investment by the pack is about the best dd there is. I can only see this loan as potentially damaging to the platform. Totally agree, Doesn't reflect well on Ly trying to push this dross on it's investors. This loan opportunity is a real shocker ! Yikes !!
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SteveT
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Post by SteveT on Feb 14, 2018 14:19:04 GMT
Just received a Lendy email encouraging me to set my pre-fund request on this one (although I have already: a big fat zero). I guess their pre-fund indications to date aren't looking great ....
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james21
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Post by james21 on Feb 14, 2018 14:33:55 GMT
How they got PP for that in a green belt amazes me, anyway I wont be investing
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Post by pmac67 on Feb 14, 2018 14:55:57 GMT
Just received a Lendy email encouraging me to set my pre-fund request on this one (although I have already: a big fat zero). I guess their pre-fund indications to date aren't looking great .... And now the official advance notification arrives? I've never had the 'Last chance to throw your money away' email closely followed by the advanced notice ? Very strange ! I dunno whether I should invest now ? It's my last chance !! Lolz.... nah
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Post by Deleted on Feb 14, 2018 15:15:52 GMT
I suspect if Lendy began paying some money back on their existing loans there might be some interest in this
Of course the value is all aver the place, the property looks a poor mixture of British vernacular/mansion of the 1870, a Palladium mansion and something from the Loire. I hope he gets an architect in before they start building. Possible customers are actually pretty large, there are loads of people who could buy it, but I'd go for the quick sale.
I'm going to guess this is built in Limestone, anything else would be crazy, anyone knows the leadtime for this much limestone (would have to be France as the place with the most quarries for this stuff), I'm guessing a year.
Jeeves, the punt pole please!
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michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Feb 14, 2018 15:21:58 GMT
Of course the value is all aver the place, the property looks a poor mixture of British vernacular/mansion of the 1870, a Palladium mansion and something from the Loire. I hope he gets an architect in before they start building. You're just jealous Bobo 
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dermot
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Post by dermot on Feb 14, 2018 15:23:18 GMT
I'm familiar with that area, it being only half an hour cycle away and there are a number of pubs that I frequent.
If the planning was for half a dozen McMansions , each in a few acres, I would have thought it a far more reasonable project.
As it is, the number of Saudi princelings around with that sort of dosh is quite limited now, since the new regime there has been detaining quite a few of the playboy types until they cough up a billion or so in delinquent taxes.
The valuers are local and quite a decent sized outfit; I've not heard any horror stories about them. Their various comments about suitability are well worded and accurate, I would say.
If it was relaunched in the way I mention, I would probably throw in a bit, simply because it is local - but not at the moment; relying on a vanishingly small pool of buyers is way too high a risk!
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mj
Posts: 37
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Post by mj on Feb 14, 2018 15:43:18 GMT
Lendy's e-mail describes this as "one of our most exciting new investment loans this year".
Oh dear, things are worse than I thought.
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Post by spareapennyor2 on Feb 14, 2018 16:08:09 GMT
who would pay 4.5m plus build cost`s
if in a year it`s auctioned for 2.5m more likely 1.5m > minimum
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mikeymike
Member of DD Central
Posts: 76
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Post by mikeymike on Feb 14, 2018 18:37:13 GMT
Am I correct in thinking that 'This loan is going live tomorrow" is nothing more than a high-pressure selling strategy designed to make me fearful of missing the opportunity to wave bye-bye to my hard-earned readies?
Everything about this loan suggests that Lendy has entered LaLa Land and the directors have been on the Koolaid.
Is it paranoia to think that: sheds, Eco-homes, leisure parks, wind-turbines, boats, students, assisted-living schemes are all out to get me.
Note to self:
It's not paranoia if its true
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
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Post by brianlom1 on Feb 14, 2018 19:35:20 GMT
I was actively considering investing in this loan until the pressure selling from Lendy started, that felt wrong and this thread has just served to confirm my suspicions.
Thank you one and all.
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) already built so it would be a nightmare finding a buyer for a plot of land to build one.
