zuluwarrior
Member of DD Central
chap from Newcastle, dabbling here and there. Long-time lurker of the forums
Posts: 78
Likes: 42
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Post by zuluwarrior on May 19, 2022 7:31:25 GMT
I'm going to play devil's advocate on this one up in Scotland. The developer is extremely experienced, far more so than the majority of CP's team, if he says he is still going to go ahead with it then I'd back him. He's also rather wealthy so rock solid with the personal guarantee.As we all know this is Ex FS and much blood was lost over this development, if anyone can complete it, I've got confidence in this developer, where there is a will there is a way. Mark my words, I'm sure the project will be completed and it'll be known as a hallmark of success for the failed P2P industry. Godspeed. Was this tongue in cheek? I'm sure you're aware that there's no such thing as a rock solid personal guarantee. Haha no it isn't, I genuinely think it'll be a success. By rock solid I meant he has got plenty of assets and I would have thought CPs lawyers could draft an agreement.
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Post by overthehill on Jul 13, 2022 13:05:47 GMT
5k available at 7.3% for a 3 month old loan in waltham cross, not sure how that comes about.
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Post by Ace on Jul 14, 2022 9:23:43 GMT
2 loans to the same borrower totalling £3.5m funded almost instantly this morning, despite the lower rates. I'm guessing that very large chunks were taken by the institutional lenders.
The number of lenders per loan seems to be falling. Not sure what to make of this. Could be fewer willing to lend at the lower rates. Perhaps lenders are seeking higher rates elsewhere, or perhaps lenders are switching to FSCS protection due to the gap in rates lowering. Probably a bit of both.
Any ideas as to why the total number of registered lenders has been removed from the stats page?
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morris
Member of DD Central
Posts: 261
Likes: 149
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Post by morris on Jul 14, 2022 9:29:53 GMT
I got generous allocations on Auto-lend. I wonder if self select are being given a lower priority. In fact I don't think the first project had any self select allocation.
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Post by Ace on Jul 14, 2022 10:01:39 GMT
I got generous allocations on Auto-lend. I wonder if self select are being given a lower priority. In fact I don't think the first project had any self select allocation. The amount pledged jumped immediately to £1.6m, so I assumed ~£300k of self select.
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firedog
Member of DD Central
Posts: 306
Likes: 380
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Post by firedog on Jul 14, 2022 12:08:04 GMT
I got generous allocations on Auto-lend. I wonder if self select are being given a lower priority. In fact I don't think the first project had any self select allocation. The amount pledged jumped immediately to £1.6m, so I assumed ~£300k of self select. Maybe most people have forgotten that there's occasionally a self-select option by now.
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easylender
Member of DD Central
Posts: 248
Likes: 222
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Post by easylender on Jul 14, 2022 21:05:44 GMT
The amount pledged jumped immediately to £1.6m, so I assumed ~£300k of self select. Maybe most people have forgotten that there's occasionally a self-select option by now. Well, I am fully pledged and 99.5% invested, so could not participate. There could be others in this position too.
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sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
Posts: 65
Likes: 53
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Post by sussexpeer on Jul 19, 2022 9:07:47 GMT
So at 9.50am I was ready for FFF for today's deal, and was perusing CP's blurb on the project.
I spotted the letters "CCJs" and so did a little DD on the borrower.
Jebus.
Needless to say, I kept my fingers to myself.
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sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
Posts: 65
Likes: 53
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Post by sussexpeer on Jul 19, 2022 10:04:19 GMT
So at 9.50am I was ready for FFF for today's deal, and was perusing CP's blurb on the project. I spotted the letters "CCJs" and so did a little DD on the borrower. Jebus. Needless to say, I kept my fingers to myself. Edit: I've posted several links in the CP DD Central section.
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Post by overthehill on Jul 25, 2022 9:36:06 GMT
25jul2022 - Ros* Fa* Wal* Cro*.
So is this another trend, Grand Designs projects ? No thanks. Frothy valuations and they don't even mention the size of the properties, hmm. I wonder how many emails there were asking for the valuation document and how long before they are forced to start publishing them.
When did CP stop doing the videos, I hadn't noticed as I've not been investing much recently.
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Post by Ace on Jul 25, 2022 10:05:48 GMT
The 2 properties are stated as being a bit over 7,000 sqft each.
I think it's been at least a year since CP stopped the videos.
One thing I don't understand on this one is why they say that "The interest will be retained and paid upon exit of the loan". Surely it they are holding the interest it should be paid out monthly. Perhaps it's a typo!
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Post by overthehill on Jul 25, 2022 10:47:48 GMT
The 2 properties are stated as being a bit over 7,000 sqft each. I think it's been at least a year since CP stopped the videos. One thing I don't understand on this one is why they say that "The interest will be retained and paid upon exit of the loan". Surely it they are holding the interest it should be paid out monthly. Perhaps it's a typo!
Sizes must be in phase 1 , not in phase 2. £468 per sq/ft.
Interest payments, lol, they save themselves some money. As we see from Kuflink, extra accrued interest pa for a 7% loan is about 0.2%.
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Post by Ace on Jul 25, 2022 11:07:14 GMT
The 2 properties are stated as being a bit over 7,000 sqft each. I think it's been at least a year since CP stopped the videos. One thing I don't understand on this one is why they say that "The interest will be retained and paid upon exit of the loan". Surely it they are holding the interest it should be paid out monthly. Perhaps it's a typo!
Sizes must be in phase 1 , not in phase 2. £468 per sq/ft.
Interest payments, lol, they save themselves some money. As we see from Kuflink, extra accrued interest pa for a 7% loan is about 0.2%.
Sizes are stated in the phase 2 details in 2 places; once for the total, and once for each plot. £461 per sqft.
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Post by Ace on Jul 28, 2022 12:41:21 GMT
There's about £32k available as I type on a CP loan paying 7.1%.
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 740
Likes: 830
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Post by p2pfan on Jul 28, 2022 14:11:52 GMT
There's about £32k available as I type on a CP loan paying 7.1%. There's still availability, currently £36k. But many people - including myself - don't want to lend their money to fund this 'Grand Designs' pet project in an extremely rural location. It has been given a GDV of an eye-watering £2,540,000 but might be worth circa 25 pence during the forthcoming recession.
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