koba
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Post by koba on Apr 6, 2014 15:59:20 GMT
Maybe. On the other hand, the first anonymous loan was from a developer with a recent involuntary bankruptcy and this borrower has some sizable CCJs against her. None of this was included in the IP. Also, I would tend to include myself (and every other lender) in the category of "those who need to know." I've changed my mind, ideally we should know their identity. You are right, at the moment we are relying on AC to get everything right while systems are being set up, corrected, trialled etc we should know for us to do our own DD. Of course we will not be given the info, but still, as has been said, we can find it out if we want. Are you 'pricing' in this extra risk? How will you do that? For me 'pricing' the additional risk is a bit of a non-starter. The difference in yield between a solid stand-alone, ringfenced proposition with decent security and a hail Mary pass for a floundering corporate seems to stand at around 2%. Nothing gets away for less than 10% and very little for more than 12%. Cherry picking the opportunities is for me the name of the game. Inability to identify / investigate the borrower is a complete turnoff in this respect but happy to hear contrary opinion if anyone cares to comment .......
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shimself
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Post by shimself on Apr 6, 2014 22:24:29 GMT
Maybe. On the other hand, the first anonymous loan was from a developer with a recent involuntary bankruptcy and this borrower has some sizable CCJs against her. None of this was included in the IP. Also, I would tend to include myself (and every other lender) in the category of "those who need to know." Can I just ask how you discovered the CCJs? Duedil shows us the company isn't doing great (but we expected that already), but nothing nasty?
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andy2001
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Post by andy2001 on Apr 7, 2014 2:19:59 GMT
The credit report says "CreditSafe personal search – Band 10, Highest of 10 (lowest risk)", so it seems a bit strange if theres a large CCJs.
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Post by Ton ⓉⓞⓃ on Apr 7, 2014 10:47:23 GMT
The credit report says "CreditSafe personal search – Band 10, Highest of 10 (lowest risk)", so it seems a bit strange if theres a large CCJs. I think koba was referring to a loan that I've not come across where the proposer had a CCJ(s) but not this case, I think... Getting back to Kent, everyting sits on Planning Permission. If it's disallowed we have to foreclose or have I forgotten something again. I think this accounts for 1.25% interest but it feels like it should be about 2%. I tried to look for the centre on google, trip adviser etc. but I found it harder than I said. IN EDIT Are there holiday homes near by to this site, google earth anyone...
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oldgrumpy
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Post by oldgrumpy on Apr 7, 2014 10:56:29 GMT
I tried to look for the centre on google, trip adviser etc. but I found it harder than I said.
Ton ⓉⓞⓃ Look for [mod removed]. The aerial view shows quite a lot of woodland round the site, some of which is actually labelled as "nursery" on one map so may have been allowed to become overgrown over the years.
I've sent you a PM
Funny that. I can put an image in here (but can't because it IDs borrower) but not in a PM it seems unless it has a URL.
edit. The last PM (if you got any of them) includes map refs and route to aerial/map side by side.
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Post by Ton ⓉⓞⓃ on Apr 7, 2014 11:35:26 GMT
Thanks for all your effort OG. I think I have it now.
IN EDIT I owe you a great big bunch of bananas.
It's very open and looks like it would be ideal in summer with enough space for more than 8 all in a small wood.(I'm forgetting the mini-golf course). There's nothing obviously like it in the area. Just farm land then along the road, I imaging, farmers houses. Possibly offering B&B and similar. Could they object, maybe but if the family has been there for 92 odd years hopefully local people would be behind them.
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Post by chielamangus on Apr 7, 2014 13:06:26 GMT
Kent is a funny place - so close to London, but so many parts where the hussle of modern life has simply passed it by. Think "Darling Buds of May". And that seems to have happened to this place. Curiously, it's the sort of place I like to visit - no crowds, and reminiscent of an earlier era in an amateurish sort of way. There used to be quite a few small, family nurseries scattered around Kent when I first moved there nearly 25 years ago, but a lot have gone, and the rest, I suppose, will be following them. I hope the owner gets her PP because otherwise it seems (no hard data yet) she will be left with very little equity after a lifetime's work.
I do need to know something about the size of the existing loan, current equity and the PP outlook before I go in on this one, even though my heart says "Yes".
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Post by Ton ⓉⓞⓃ on Apr 7, 2014 13:41:17 GMT
A sudden jump to 30% filled with 12 days to go, one big bid from an ancient Egyptian ruler.
IN EDIT This sounds like a cryptic crossword puzzle. Perhaps I should put in a bid now before it fills...
2nd IN EDIT An hour later 38% filled from I think 26% last night..
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andy2001
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Post by andy2001 on Apr 7, 2014 20:34:54 GMT
The credit report says "CreditSafe personal search – Band 10, Highest of 10 (lowest risk)", so it seems a bit strange if theres a large CCJs. I think koba was referring to a loan that I've not come across where the proposer had a CCJ(s) but not this case, I think... Looking at the Q&A it's clear shimself thinks this loan has a CCJ issues.
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Post by Ton ⓉⓞⓃ on Apr 7, 2014 20:49:02 GMT
Maybe. On the other hand, the first anonymous loan was from a developer with a recent involuntary bankruptcy and this borrower has some sizable CCJs against her. None of this was included in the IP. Also, I would tend to include myself (and every other lender) in the category of "those who need to know." Can I just ask how you discovered the CCJs? Duedil shows us the company isn't doing great (but we expected that already), but nothing nasty? I think shimself got the wrong end of the stick. I don't see that he's found anything in this loan, he latched onto something that koba said (see my quote above) and I think koba was talking about a loan that happen early on. koba himself will be the only one for sure so he needs to confirm one way or the other. I can see what you're getting at and I could be wrong. I'm not on Duedil web, site are you? Perhaps someone could run their details thru' and confirm or deny this ccj? As we should find out.
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andy2001
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Post by andy2001 on Apr 7, 2014 20:54:37 GMT
Can I just ask how you discovered the CCJs? Duedil shows us the company isn't doing great (but we expected that already), but nothing nasty? I think shimself got the wrong end of the stick. I don't see that he's found anything in this loan, he latched onto something that koba said (see my quote above) and I think koba was talking about a loan that happen early on. koba himself will be the only one for sure so he needs to confirm one way or the other. I can see what you're getting at and I could be wrong. I'm not on Duedil web, site are you? Perhaps someone could run their details thru' and confirm or deny this ccj? As we should find out. I'm not on Duedil. I've figured out what site this loan is linked to , it's the one with the [ insect ref. removed], But I'm not in a position to check for CCJs.
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oldgrumpy
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Post by oldgrumpy on Apr 7, 2014 21:05:56 GMT
I don't think it is a company so Duedil won't have anything.
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Post by Ton ⓉⓞⓃ on Apr 7, 2014 21:11:37 GMT
Well we've 11 days to get to the bottom of this, I sure someone else will see out discussion and resolve it.
Assuming all is well and the above is a misunderstanding will you be investing in this one? So far I'm in at £200, I'm a little squeamish at throwing out a lady in her 90's if we have to sell her house in which she's lived all her life. Making her live in one of the green houses or something, that'll be great PR for p2p, I'm making light of all this to high light it but I'm assuming her family will help out if it comes to that.
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andy2001
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Post by andy2001 on Apr 7, 2014 21:16:22 GMT
Well we've 11 days to get to the bottom of this, I sure someone else will see out discussion and resolve it. Assuming all is well and the above is a misunderstanding will you be investing in this one? So far I'm in at £200, I'm a little squeamish at throwing out a lady in her 90's if we have to sell her house in which she's lived all her life. Making her live in one of the green houses or something, that'll be great PR for p2p, I'm making light of all this to high light it but I'm assuming her family will help out if it comes to that. I already put 1k of shadow bids on this one before any this stuff was posted. This is a larger than average bid for me.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Apr 7, 2014 21:19:25 GMT
Well we've 11 days to get to the bottom of this, I sure someone else will see out discussion and resolve it. Assuming all is well and the above is a misunderstanding will you be investing in this one? So far I'm in at £200, I'm a little squeamish at throwing out a lady in her 90's if we have to sell her house in which she's lived all her life. Making her live in one of the green houses or something, that'll be great PR for p2p, I'm making light of all this to high light it but I'm assuming her family will help out if it comes to that. The document says she is 75, not in her 90s, and that she does not live on site but in a separate house in the village. Forgive my late night grumpiness, but suggest you don't even think about investing until you have read the stuff that is provided  Edit: now I find I'm guilty of not reading properly - you clearly state you already have invested - perhaps give the doc a better read before investing more then 
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