ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
|
Post by ilmoro on May 28, 2016 13:14:37 GMT
cooling_dude, is the ID of the borrower known? Can you point me in the right direction? Client name in valuations?
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 28, 2016 13:53:02 GMT
I PM Please turn me over direct after his question, as I didn't want to name & shame, but here is my edited response, with some irregularities with the borrower... Considering the borrower is a lawyer, and there is a law firm at this premises can't be a coincidence. |
|
|
|
Post by dualinvestor on May 28, 2016 14:31:23 GMT
|
|
|
|
Post by uncletone on May 28, 2016 14:36:30 GMT
And here was me thinking the Scots spoke English  .... (although I must be careful what I say, as I was born north of the border... just) Is that not on a par with being "slightly pregnant"?
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 28, 2016 14:51:13 GMT
So the borrower owns the <ahem> 'heritable property' but doesn't appear to practice law at that firm. That's correct; my guess is that the borrower did practice law there (maybe them that converted it from a residential to a commercial property), and then let it out to another set of lawyers later in life. The current lot haven't even paid rent since November 2013; something to do with a notice of irritancy that was issued by the owner in 2012 but has not been resolved.....? 
|
|
|
|
Post by GSV3MIaC on May 28, 2016 14:53:43 GMT
/mod hat off
That's great, it means we have a choice of two unrelated lawyers if we need to evict the tenants. 8>.
Plus of course Lendy's new Head of Legal, who is (according to the email) a property law expert.
|
|
|
|
Post by earthbound on May 28, 2016 14:56:32 GMT
over the last 10 years, the borrower has had quite a few dealings in aspects of property, buying, selling, renovating, letting, altho the last few years have been concentrated around film and tv work. But certainly doesn't look inexperienced.IMO.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 28, 2016 15:00:16 GMT
over the last 10 years, the borrower has had quite a few dealings in aspects of property, buying, selling, renovating, letting, altho the last few years have been concentrated around film and tv work. But certainly doesn't look inexperienced.IMO. Where? I can't find any information on the borrowers property development credentials. I'm not saying the person is not a property developer, but that there is no information that suggests that they are... Got any information you want to share with us earthbound 
|
|
|
|
Post by earthbound on May 28, 2016 15:01:46 GMT
I PM Please turn me over direct after his question, as I didn't want to name & shame, but here is my edited response, with some irregularities with the borrower... Considering the borrower is a lawyer, and there is a law firm at this premises can't be a coincidence. The borrower, IMHO, does not appear to have a track record as a developer. I would agree with you , but not totally green.
|
|
|
|
Post by earthbound on May 28, 2016 15:10:33 GMT
over the last 10 years, the borrower has had quite a few dealings in aspects of property, buying, selling, renovating, letting, altho the last few years have been concentrated around film and tv work. But certainly doesn't look inexperienced.IMO. Where? I can't find any information on the borrowers property development credentials. I'm not saying the person is not a property developer, but that there is no information that suggests that they are... Got any information you want to share with us earthbound no, not a property developer , i agree, but has had some dealings here and there, i would expect not totally green.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on May 28, 2016 15:14:04 GMT
Jaydee I would agree with you , but not totally green. As cooling_dude says can you point us in the direction of where you found the history? He PM me with some details he found online (probably not wanting to push the MODs naming & shaming ), but nothing that suggests an "Experienced property investor", but does have some dealings in the field. The following is all I could see... 2009 - 2011 Consultancy work on due diligence and strategy in resolving a major dispute for a client with an extensive property portfolio. 2006 - 2009 Completed construction of a holiday cottage that is now let; Obtained planning permission and building warrant for an office development for which construction is expected to commence soon.
|
|
|
|
Post by earthbound on May 28, 2016 15:14:25 GMT
Jaydee I would agree with you , but not totally green. As cooling_dude says can you point us in the direction of where you found the history? I PM'd it to CD, ill let him do the rest, iv been poked twice in the last week for dodgy links.
|
|
|
|
Post by earthbound on May 28, 2016 15:18:45 GMT
bit more here as well.
Great deal of property experience both as a solicitor acting on behalf of clients and as a developer and landlord.
Property related work.
(whatever that means)
|
|
|
|
Post by Deleted on May 28, 2016 15:21:11 GMT
What I don't understand about this valuation is why SS had to resort to the valuation that was done for (and paid by) the borrower.
Clearly this does not seem to me an 'independent' valuation
|
|
|
|
Post by Deleted on May 28, 2016 15:25:50 GMT
As cooling_dude says can you point us in the direction of where you found the history? He PM me with some details he found online (probably not wanting to push the MODs naming & shaming ), but nothing that suggests an "Experienced property investor", but does have some dealings in the field. The following is all I could see... 2009 - 2011 Consultancy work on due diligence and strategy in resolving a major dispute for a client with an extensive property portfolio. 2006 - 2009 Completed construction of a holiday cottage that is now let; Obtained planning permission and building warrant for an office development for which construction is expected to commence soon. You can find a lot about her putting on Google her name (on pag 5 of the valuation report) and the place. What is surprising is that she seems to be holding quite a high position in a financing company!!! So, why would she come and ask money here at 18%....
|
|
.... (although I must be careful what I say, as I was born north of the border... just)
