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Post by douganole on May 20, 2022 10:01:35 GMT
"with interest" ?
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Post by Badly Drawn Stickman on May 20, 2022 10:16:57 GMT
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blueblazer
Member of DD Central
Posts: 60
Likes: 35
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Post by blueblazer on May 20, 2022 10:33:39 GMT
I am puzzled by the 'marketing' strategy prior to launching this loan. First I get a string of email updates about the power loans, which all seemed a bit like promises I had heard quite often before. Then today I get three identical updates telling me 129 is a bit poorly. The gym loan that has been limping along for a while is now several days late and deemed unworthy of note. I think my 'War chest' for this loan may be returned to calmer waters. I will watch with interest instead.... Indeed. Is it being over cynical to think that updates are now coming out just before a new loan launches??
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Post by ladywhitenap on May 20, 2022 10:45:15 GMT
This loan suggest there is planning permission granted for the build of flats.
On the planning portal, the only relevant application which has been granted is for the demolition of the site.
"Prior notification of proposed demolition of buildings at 5-5a Parkstone Road and 4-6 Longfleet Road
5-5a Parkstone Road, BH15 2NL and 4-6 Longfleet Road, BH15 2HT
Ref. No: APP/20/01382/PA | Received: Wed 25 Nov 2020 | Validated: Wed 25 Nov 2020 | Status: Decided "
Whereas the loan application says " Planning permission has now been secured for the demolition of existing buildings and erection of an 8 storey single block building with 118 apartments.
LW
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 734
Likes: 814
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Post by p2pfan on May 20, 2022 11:31:48 GMT
This loan suggest there is planning permission granted for the build of flats. On the planning portal, the only relevant application which has been granted is for the demolition of the site. "Prior notification of proposed demolition of buildings at 5-5a Parkstone Road and 4-6 Longfleet Road 5-5a Parkstone Road, BH15 2NL and 4-6 Longfleet Road, BH15 2HT Ref. No: APP/20/01382/PA | Received: Wed 25 Nov 2020 | Validated: Wed 25 Nov 2020 | Status: Decided " Whereas the loan application says " Planning permission has now been secured for the demolition of existing buildings and erection of an 8 storey single block building with 118 apartments.
LW
This is a key point. Well spotted. For me it would be a game-changer, as lack of planning permission for the building increases the risk massively. Does ablrate or anybody else have an clarification on this? UPDATE: "Planning Permission now uploaded to site" by Ablrate. It states the following, so I feel reassured (but strangely planning permission for the building not on the Poole local authority website, only demolition): "Outline application for the demolition of existing buildings and erection of an 8 storey single block building with 118 apartments, with associated access, undercroft parking and cycle/bin storage (to determine layout, scale, appearance and access) In pursuance of their powers under the above mentioned Act, The Local Planning Authority HEREBY GRANT OUTLINE PLANNING PERMISSION for the development described above in accordance with the details given in the application numbered above." People in the area are complaining about lack of car parking space provisions for the development on the local newspaper's website, but these inner-town/city projects often have such issues.
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Post by Ace on May 20, 2022 11:41:01 GMT
An outline planning permission document has been added to the ABLrate website for this loan.
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Post by ladywhitenap on May 20, 2022 12:13:50 GMT
Curiously, searching the planning portal does not locate the outline planning permission grant but putting in the reference number from the grant brings up the details on the poole website. ANyhow I'm duly relieved to see the document showing provisional permission has been granted. I'm in! (or I plan to be?) LW
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deltron
Member of DD Central
Posts: 54
Likes: 66
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Post by deltron on May 20, 2022 12:35:32 GMT
I like the out-of-date info about Pea Won in the borrowing proposal: saying things like P1 don't target property that's in excess of £1 million (M******o P**k is all roughly £2 million properties) and how 1-bedroom apartments aren't part of their "Disciplined Approach" because they typically don't hold up well in a market downturn (#176 is going to include ninety one 1-bed apartments, and there are several 1-beds in the C*****n R**d development too). Are we talking about the same company here (rhetorical)?
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macq
Member of DD Central
Posts: 1,924
Likes: 1,191
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Post by macq on May 20, 2022 17:01:21 GMT
I like the out-of-date info about P1 in the borrowing proposal: saying things like P1 don't target property that's in excess of £1 million (M******o P**k is all roughly £2 million properties) and how 1-bedroom apartments aren't part of their "Disciplined Approach" because they typically don't hold up well in a market downturn (#176 is going to be ninety one 1-bed apartments, and there are several 1-beds in the C*****n R**d development too). Are we talking about the same company here (rhetorical)? Given up wondering why P* C*****L use there own funding site with bonds etc for some projects and Abl for others (but then the who can invest guidelines on their own site are quite strict)
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Post by df on May 20, 2022 18:37:50 GMT
I am puzzled by the 'marketing' strategy prior to launching this loan. First I get a string of email updates about the power loans, which all seemed a bit like promises I had heard quite often before. Then today I get three identical updates telling me 129 is a bit poorly. The gym loan that has been limping along for a while is now several days late and deemed unworthy of note. I think my 'War chest' for this loan may be returned to calmer waters. I will watch with interest instead.... 33% filled so far. Not bad for 5 hours, but usually the most of enthusiasm happens in the first couple of hours... hardly any repayments from other loans and I'm guessing the brave souls who are investing new money are the minority. The show would've been more diverting if ABL displayed the details of the race, like FS/CL and MT did.
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Post by Badly Drawn Stickman on May 20, 2022 18:58:56 GMT
I am puzzled by the 'marketing' strategy prior to launching this loan. First I get a string of email updates about the power loans, which all seemed a bit like promises I had heard quite often before. Then today I get three identical updates telling me 129 is a bit poorly. The gym loan that has been limping along for a while is now several days late and deemed unworthy of note. I think my 'War chest' for this loan may be returned to calmer waters. I will watch with interest instead.... 33% filled so far. Not bad for 5 hours, but usually the most of enthusiasm happens in the first couple of hours... hardly any repayments from other loans and I'm guessing the brave souls who are investing new money are the minority. The show would've been more diverting if ABL displayed the details of the race, like FS/CL and MT did. I had intended to invest 'new money' but common sense got the better of me as I was entering the bid. It is very hard to justify currently. I suspect what is on the table will be taken (logically before the full listing time - given a nominal 4 month term) and they will hope for a better environment before the next loan is wanted.
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deltron
Member of DD Central
Posts: 54
Likes: 66
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Post by deltron on May 22, 2022 20:18:10 GMT
33% filled in 5.5 hours. A further 6% filled in the following 48 hours. For comparison #175's £500,000 from Pea Won was snapped up in 5 days about a month ago.
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archie
Posts: 1,838
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Post by archie on May 23, 2022 4:32:20 GMT
I had intended to add a bit more but card deposit didn't work.
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 734
Likes: 814
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Post by p2pfan on May 23, 2022 18:00:21 GMT
33% filled in 5.5 hours. A further 6% filled in the following 48 hours. For comparison #175's £500,000 from Pea Won was snapped up in 5 days about a month ago. On 44% funded of the £500k now. Why do people think this loan is struggling to attract lenders?
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 218
Likes: 300
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Post by GreenZero on May 23, 2022 18:29:27 GMT
33% filled in 5.5 hours. A further 6% filled in the following 48 hours. For comparison #175's £500,000 from Pea Won was snapped up in 5 days about a month ago. On 44% funded of the £500k now. Why do people think this loan is struggling to attract lenders? I like the look of the company and their previous loans have performed well and this one seems attractive and something previously, I would definitely invested in, not a huge amount but somewhere between 0.5 and 1%. So why haven't I? It comes down to how abl have performed when the chips are down. Their communication is almost non-existent in respect of AF/AC. What they do send out insults our intelligence, it seems they think we wonn't remember what was contained in their previous communications. Always Jam tomorrow. I always feel they are for the borrower rather than the lender. Loan 94, a prime example. I got involved with abl as I liked the idea of there being an asset against the loan, however it didn't take long for me to realise the asset often only exists on paper.
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