ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Oct 25, 2018 13:27:53 GMT
I quite like this Platform and duly invested during the summer. I have since sat tight and today looked at investing more when the very first *Loan I investigated I disappointingly find is valued at £1.5M when it sold for £750K last December 2016. I have emailed Ben and asked who provided the valuation and why it has doubled in value in under two years?
Anyone on here got further experience with HNW and/or care to add information/comment?
Cheers!
OzBoy
* B*****k - Henley.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Oct 25, 2018 15:31:44 GMT
A kind response already from a learned colleague on The Other Place. I won't name names in case s/he is quite shy and they can out themselves if they so wish:- "If I'm looking at the right loan it is more than a year overdue. Started in June 2017 supposedly for a 3 month term.The valuation report is attached for the property at £1.1M plus £400k of 'pension assets' making up the £1.5M. The valuation report is dated November 2016, just before that actual sale you have found. No idea what is going on and the information of the platform is woefully inadequate.Looks as if it might be in trouble and the directors are still trying to sell their holdings to unsuspecting lenders.In general there is a lack of information uploaded about loans. They say you can email for more info but in my experience they don't always reply. Many loans I have shortlisted just seem to sit there for weeks, with the start date being constantly extended."
EDIT: I note that the "RICS Registered Valuer" was from the famous K*mpton C*rr Croft. So irrefutably accurate then.  |
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Post by mrclondon on Oct 25, 2018 16:36:51 GMT
Anyone thinking of investing via HNW Lending should research the FS defaulted loan "Mixed Use Property, Coventry" which HNW has a second charge over. Exactly what has happened and who is ultimately responsible isn't known, but someone somewhere dropped a major clanger. For those with access the DDC thread is here. |
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rs
Member of DD Central
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Post by rs on Oct 26, 2018 10:38:26 GMT
Anyone thinking of investing via HNW Lending should research the FS defaulted loan "Mixed Use Property, Coventry" which HNW has a second charge over. Exactly what has happened and who is ultimately responsible isn't known, but someone somewhere dropped a major clanger. For those with access the DDC thread is here. This property loan is also on Funding Secure. Same property on 2 p2p sites! I suggest you give Ben a call and he'll explain. My guess is that this loan will take at least 2-3 years to sort out on a good day.
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