unmadem
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Post by unmadem on Jun 5, 2019 13:34:06 GMT
radio4 You and yours 05/06/2019 interview on Lendy including a Lendy borrower. Starts about 27mins 35 seconds into the program. link |
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ptr120
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Post by ptr120 on Jun 5, 2019 14:06:33 GMT
Can we guess which project this was?
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zlb
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Post by zlb on Jun 5, 2019 14:12:18 GMT
Can we guess which project this was? the LAG team are aware.
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adrianc
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Post by adrianc on Jun 5, 2019 14:30:13 GMT
Converting holiday cottages to turn into "individual BtLs" with leisure spa and pool in a rural area, £2.5m 12mo 12%, repayment via sale of units (or refinance? He says both), all went south around October 2017. There can only really be one that it fits with.
The guy's name is given in the prog. A little light googling confirms the same name definitely relates to that project at CoHo... P**k****g - needless to say, the project updates don't quite conform to the comments, nor does he directly counter them. I suspect a fair bit of gloss being given. The biggest discrepancy is that he seems to be spinning it as a dev loan, while the platform loan description has it as purchase finance.
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zlb
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Post by zlb on Jun 5, 2019 15:19:21 GMT
Converting holiday cottages to turn into "individual BtLs" with leisure spa and pool in a rural area, £2.5m 12mo 12%, repayment via sale of units (or refinance? He says both), all went south around October 2017. There can only really be one that it fits with. The guy's name is given in the prog. A little light googling confirms the same name definitely relates to that project at CoHo... P**k****g - needless to say, the project updates don't quite conform to the comments, nor does he directly counter them. I suspect a fair bit of gloss being given. The biggest discrepancy is that he seems to be spinning it as a dev loan, while the platform loan description has it as purchase finance. on this loan they list the borrower as Bel*** S** * G** Limited. Wasn't it unusual for the actual borrower to be known on Ly. usually it was anonymous 'info' about other projects "the borrower" was involved in, whether they had planning permission granted elsewhere, etc.
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sl75
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Post by sl75 on Jun 5, 2019 15:41:51 GMT
Converting holiday cottages to turn into "individual BtLs" with leisure spa and pool in a rural area, £2.5m 12mo 12%, repayment via sale of units (or refinance? He says both), all went south around October 2017. There can only really be one that it fits with. If anyone isn't sure whether they've guessed right, just have a quick look at who instructed the valuation report.
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travolta
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Post by travolta on Jun 5, 2019 15:44:21 GMT
''st st ,you really should know better you foolish people with more money than sense'' cries Aunt BEEB. ''Don't worry you wont be allowed out anymore''.
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Post by billy169 on Jun 5, 2019 15:50:37 GMT
I'm not worried.. there's a PG on it..😪
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rscal
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Post by rscal on Jun 5, 2019 16:17:51 GMT
Is this related news or simply a coincidence?
https:/ /www.dailymail.co.uk /money/saving/article-7104769 /Pass-test-invest-risky-peer-peer-firms-City-watchdog-unveils-new-rules.html
(Perhaps it is a devious ruse to frighten ppl back into the hands of safe deposits paying 1 and a bit eh?)
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adrianc
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Post by adrianc on Jun 5, 2019 16:28:01 GMT
Converting holiday cottages to turn into "individual BtLs" with leisure spa and pool in a rural area, £2.5m 12mo 12%, repayment via sale of units (or refinance? He says both), all went south around October 2017. There can only really be one that it fits with. The guy's name is given in the prog. A little light googling confirms the same name definitely relates to that project at CoHo... P**k****g - needless to say, the project updates don't quite conform to the comments, nor does he directly counter them. I suspect a fair bit of gloss being given. The biggest discrepancy is that he seems to be spinning it as a dev loan, while the platform loan description has it as purchase finance. on this loan they list the borrower as Bel*** S** * G** Limited. Wasn't it unusual for the actual borrower to be known on Ly. usually it was anonymous 'info' about other projects "the borrower" was involved in, whether they had planning permission granted elsewhere, etc. Have a read of the administrator's final report of that company. Far from being eating cold beans out of the tin, as the R4 sob story went, "the director" was one of the two parties offering to buy the property back from the administrators.
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adrianc
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Post by adrianc on Jun 5, 2019 16:29:14 GMT
Is this related news or simply a coincidence?
https:/ /www.dailymail.co.uk /money/saving/article-7104769 /Pass-test-invest-risky-peer-peer-firms-City-watchdog-unveils-new-rules.html
(Perhaps it is a devious ruse to frighten ppl back into the hands of safe deposits paying 1 and a bit eh?) Thread here -> p2pindependentforum.com/thread/14982/new-fca-rulesIt's been in consultation since almost a year ago. Pure coincidence of timing.
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