littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
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Post by littleoldlady on Jan 24, 2023 11:44:34 GMT
Can anyone make out what's happening on the top floor from the photo on the latest update?
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firedog
Member of DD Central
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Post by firedog on Jan 24, 2023 15:36:18 GMT
Can anyone make out what's happening on the top floor from the photo on the latest update? Photo just taken from a tight angle I think - seems to be in line with the plans.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on Apr 7, 2024 16:28:35 GMT
These units were supposed to be finished many months ago. I can't see any up for sale. i hope they haven't been left to deteriorate.
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Post by overthehill on Apr 7, 2024 19:50:02 GMT
These units were supposed to be finished many months ago. I can't see any up for sale. i hope they haven't been left to deteriorate.
This one is a FU. 1 of 35 default loans currently and an unknown number between 0-6 months. I'm amazed so many are still piling cash in with no improvement in the trend. What number becomes a tipping point ? CP need to cover the extra costs somehow ? How long is 10% sustainable ?
Just checked and I'm actually sitting with 6 out of the 8 oldest (i.e. shakiest) loans on the platform !
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scooter
Member of DD Central
Posts: 354
Likes: 333
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Post by scooter on Apr 7, 2024 20:57:40 GMT
Hi, I have such small amounts in each loan with CP that i let them go un-scrutinized. CP is on the face of things providing good information in the comments another reason to think they are good eggs!
However, there is not one word of anything they say on the website that is verified by an actual document (One of the reasons I started looking at the ongoing disclosures) I asked to see the valuations, they told me the valuation is on the record.
"CrowdProperty has been FCA authorised and regulated since the 1st November 2017, having proven that our processes are robust, our platform stable and our due diligence rigorous - as well as confirming our commitment to transparency and client focus."
The most dubious comments on this loan:
12/21 "The borrower has agreed terms with a Housing Association to sell the completed development at a price of £2,005,000 and as such we have agreed that the loan should run late so the borrower can focus on completing the Works and then selling the property."
11/23 "we gave the borrower 2 weeks to provide evidence of the offers he has and the expected timescale of completion of these outstanding items. Unfortunately, the information he provided was not backed with any evidence."
No CP information is backed with any evidence, why should the borrower be any different.
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Post by overthehill on Apr 8, 2024 11:05:30 GMT
Hi, I have such small amounts in each loan with CP that i let them go un-scrutinized. CP is on the face of things providing good information in the comments another reason to think they are good eggs! However, there is not one word of anything they say on the website that is verified by an actual document (One of the reasons I started looking at the ongoing disclosures) I asked to see the valuations, they told me the valuation is on the record. "CrowdProperty has been FCA authorised and regulated since the 1st November 2017, having proven that our processes are robust, our platform stable and our due diligence rigorous - as well as confirming our commitment to transparency and client focus."
The most dubious comments on this loan: 12/21 "The borrower has agreed terms with a Housing Association to sell the completed development at a price of £2,005,000 and as such we have agreed that the loan should run late so the borrower can focus on completing the Works and then selling the property." 11/23 "we gave the borrower 2 weeks to provide evidence of the offers he has and the expected timescale of completion of these outstanding items. Unfortunately, the information he provided was not backed with any evidence."
No CP information is backed with any evidence, why should the borrower be any different.
It's an interesting point that CP has never included valuation or legal documents in the loan information, how did that happen ? So no actual evidence of anything, here's my dosh!
Most platforms provide the valuation document, not sure how many also provide the legal document from the solicitor like Proplend.
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Post by Ace on Apr 8, 2024 11:46:57 GMT
Hi, I have such small amounts in each loan with CP that i let them go un-scrutinized. CP is on the face of things providing good information in the comments another reason to think they are good eggs! However, there is not one word of anything they say on the website that is verified by an actual document (One of the reasons I started looking at the ongoing disclosures) I asked to see the valuations, they told me the valuation is on the record. "CrowdProperty has been FCA authorised and regulated since the 1st November 2017, having proven that our processes are robust, our platform stable and our due diligence rigorous - as well as confirming our commitment to transparency and client focus."
The most dubious comments on this loan: 12/21 "The borrower has agreed terms with a Housing Association to sell the completed development at a price of £2,005,000 and as such we have agreed that the loan should run late so the borrower can focus on completing the Works and then selling the property." 11/23 "we gave the borrower 2 weeks to provide evidence of the offers he has and the expected timescale of completion of these outstanding items. Unfortunately, the information he provided was not backed with any evidence."
No CP information is backed with any evidence, why should the borrower be any different.
It's an interesting point that CP has never included valuation or legal documents in the loan information, how did that happen ? So no actual evidence of anything, here's my dosh!
Most platforms provide the valuation document, not sure how many also provide the legal document from the solicitor like Proplend. The loan factsheets contain the statement " The loan agreement has been completed. Please let us know if you want to have copy of this and we will send you the agreed version". I've never tried asking for one.
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Post by Ace on Apr 8, 2024 11:50:06 GMT
These units were supposed to be finished many months ago. I can't see any up for sale. i hope they haven't been left to deteriorate.
This one is a FU. 1 of 35 default loans currently and an unknown number between 0-6 months. I'm amazed so many are still piling cash in with no improvement in the trend. What number becomes a tipping point ? CP need to cover the extra costs somehow ? How long is 10% sustainable ?
Just checked and I'm actually sitting with 6 out of the 8 oldest (i.e. shakiest) loans on the platform !
How did you discover this? I can only see info on the loans I'm in. Is there some way of downloading the whole historic loanbook that I've missed?
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Post by overthehill on Apr 8, 2024 13:37:02 GMT
This one is a FU. 1 of 35 default loans currently and an unknown number between 0-6 months. I'm amazed so many are still piling cash in with no improvement in the trend. What number becomes a tipping point ? CP need to cover the extra costs somehow ? How long is 10% sustainable ?
Just checked and I'm actually sitting with 6 out of the 8 oldest (i.e. shakiest) loans on the platform !
How did you discover this? I can only see info on the loans I'm in. Is there some way of downloading the whole historic loanbook that I've missed?
Listed all the funded loans as they are in date order. You can view any of them but you can only see updates for your own loans.
You have to tediously go down clicking the more button to get the full list, anything to make it harder and less visible!
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on Apr 10, 2024 22:31:55 GMT
Eventually you can see all 372 running loans. All mine are at 360+ several years overdue.
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