jnm21
Posts: 441 
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PMF D1
Aug 22, 2018 22:48:29 GMT
Post by jnm21 on Aug 22, 2018 22:48:29 GMT
Is anyone local to this investment & able to provide any update? The last update was some time ago.
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pom
Member of DD Central
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PMF D1
Aug 23, 2018 7:56:15 GMT
Post by pom on Aug 23, 2018 7:56:15 GMT
Perhaps we'll get one at the end of the month with everything else
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benaj
Member of DD Central
N/A
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PMF D1
Aug 23, 2018 10:12:10 GMT
Post by benaj on Aug 23, 2018 10:12:10 GMT
Try google "PMF D1 LTD" from companyies house, or ask a friend from Bristol.
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jnm21
Posts: 441
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Post by jnm21 on Feb 15, 2019 13:25:25 GMT
I see that they sneaked out an update last month with no fanfare! My reading of it is more of the same - we over promised & expect to under deliver! I think I now can answer the question I always wrestled with: why do the big boys drop golden crumbs like this down to the little folk? Example: Bob wants to borrow £540 on a £1000 off plan asset, approaches Sam, who looks at the options: 1) Lend £540 at a 54% LTGDV - seems good. 2) Lend £270 with first charge on the asset, get some gullible little folk to invest the second half for a second charge - Sam now lends £270 with a 27% LTGDV & the little folk lend with no idea what their second charge is worth & a completely unknown risk. Sam goes with option number 2 & so long as the asset realises 27% of the speculative valuation loses not one penny! If it fails to realise about 75% the little folk lose out, losing everything if it realises less than around 45% (which goes to cover Sam's capital, interest & costs, before they see a penny)! I just hope I have not learned an expensive lesson!  |
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benaj
Member of DD Central
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PMF D1
Feb 17, 2019 13:38:44 GMT
Post by benaj on Feb 17, 2019 13:38:44 GMT
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
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PMF D1
Feb 17, 2019 17:10:36 GMT
via mobile
Post by ilmoro on Feb 17, 2019 17:10:36 GMT
The only registered charge is in favour of DFI Nominees (sic) which is the nominee entity for PM lenders
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jnm21
Posts: 441
Likes: 167
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PMF D1
Feb 19, 2019 6:27:11 GMT
via mobile
Post by jnm21 on Feb 19, 2019 6:27:11 GMT
Oh please tell me this one is OK - my biggest PM investment by far! I can't see that name mentioned.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
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PMF D1
Feb 19, 2019 11:55:36 GMT
Post by ilmoro on Feb 19, 2019 11:55:36 GMT
Well, I am sure I had read it before so just checked and had this in an old email from Property Moose.  " We're thrilled to announce the launch of a loan note to help fund an exciting development project in Bristol. Funds are due to be raised via PMF D1, which will hold second legal charge. We are offering investors a fixed return of 10% net per annum, which is due to be paid on redemption of the estimated term length of 12-18 months.
We will be controlling the development in conjunction with industry professionals, including Amicus Property Finance and S** B***** A******, with whom we have strong and established relationships."A quick bit of googling brings up all the details. Amicus are the first charge holder, with CC the second charge holder. PMF D1 has invested via CC (its a CC entity) with I assume the security being assigned to lenders vis cahrges registered by the nominee company over PMF D1 & CC. The loan is to a company (PM ***4, R* 1) controlled by the principal of S**. Im not sure if there is a connection with a similar named PM SPV which has been transferred to UKDP I believe, perhaps that entity owns one of the units in the block with the development relating to the rest.
Edit All relevant links posted in DD
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Post by sayyestocress on Feb 28, 2019 9:10:47 GMT
The words "second legal charge" combined with double digit interest and property development finance should be enough to scare off most folks familiar with this forum!
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jnm21
Posts: 441
Likes: 167
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PMF D1
May 25, 2019 15:54:54 GMT
via mobile
Post by jnm21 on May 25, 2019 15:54:54 GMT
The words "second legal charge" combined with double digit interest and property development finance should be enough to scare off most folks familiar with this forum! If only you had posted this at the time - as above, I now know that second charge means treat LTV as BS (doubly so with P2P in my experience) & think how quickly to run away!
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PMF D1
May 25, 2019 21:47:34 GMT
Post by sayyestocress on May 25, 2019 21:47:34 GMT
The words "second legal charge" combined with double digit interest and property development finance should be enough to scare off most folks familiar with this forum! If only you had posted this at the time - as above, I now know that second charge means treat LTV as BS (doubly so with P2P in my experience) & think how quickly to run away! Hindsight is a 'wonderful' thing...
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jnm21
Posts: 441
Likes: 167
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PMF D1
Dec 16, 2019 5:53:16 GMT
via mobile
Post by jnm21 on Dec 16, 2019 5:53:16 GMT
Anyone heard anything recently on this - I know that with PM generally any news isn't good, but when you are waiting for money back, no news isn't great either...
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benaj
Member of DD Central
N/A
Posts: 5,591
Likes: 1,735
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PMF D1
Dec 16, 2019 10:05:34 GMT
Post by benaj on Dec 16, 2019 10:05:34 GMT
Anyone heard anything recently on this - I know that with PM generally any news isn't good, but when you are waiting for money back, no news isn't great either... AFAIK, all the PM shares and loans have been transferred to UKDP on 12th Jun. We have to be patient until listing on LSE.
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