oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Sept 14, 2017 18:53:02 GMT
I wouldn't dare speculate about costings and valuations regarding this project, which is taking longer than expected, though it has been a massive undertaking (just look at aerial pictures of the site. I'll add one here (dated 2012), but be warned; it might be removed. Others might have more insight into project viability with the information available and discoverable online. I've got a few K in it still. There are several significant projects of various sizes about to take off in Wolverhampton , not least the Royal Hospital, and land nearby, now that Tesco have at last s*dd*d off. Ten years wasted. It would be strange if at least one or two more don't turn up on our "main" P2P platforms. It would surprise me if the man behind the S*****m development does not have his finger in the pies; we know he owns land nearby which is ready for demolition/redevelopment. I think he is canny enough to resist starting anything else until this one is complete.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Oct 12, 2017 13:53:34 GMT
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Oct 12, 2017 16:49:00 GMT
Updates seem adamant practical completion will be within the month term, the photos suggesting some bonus opportunity before the refi
|
|
|
Post by df on Oct 12, 2017 19:12:09 GMT
Updates seem adamant practical completion will be within the month term, the photos suggesting some bonus opportunity before the refi "Further development tranche to be added to the Pipeline shortly. The borrower’s Broker has advised that they should have a Credit backed offer of refinance within the next 2 weeks." - which is today. I remember someone describing this loan as one of the solid on the platform few months ago. 32 days left and £412,821 remaining on SM. Further development tranche? I hope I'm wrong, but I can envisage this one joining the rank of Welsh and Scottish castles.
|
|
hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
|
Post by hazellend on Oct 12, 2017 19:29:48 GMT
Looks like a good quality, attractive build.
I'm happy to invest in a further tranche, with cashback.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on Nov 3, 2017 21:13:03 GMT
Looks like a good loan... but why is there such an enormous amount in the 2ndary market?
It s the biggest one on the secondary market. Why?
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Nov 4, 2017 4:30:48 GMT
Looks like a good loan... but why is there such an enormous amount in the 2ndary market? It s the biggest one on the secondary market. Why? Because it is the largest loan in the Lendy portfolio? Because ten days from now it will stop paying interest and switch to accruing interest?
|
|
|
Post by p2plender on Nov 4, 2017 9:42:20 GMT
And likely to run well over schedule. Hoping Lendy handle this correctly as it's my last big chunk before I depart the good bad ship Lendy
|
|
|
Post by GSV3MIaC on Nov 4, 2017 14:29:10 GMT
So place your bets .. will it
a) Go to IA status, and accumulate some notional bonus interest .. b) Get an injection of extra interest from the borrower to keep it ticking over as IOA .. c) Invent an extra tranche, or a subordinated loan (like PBL84 did) to cover the interest for the extension .. d) Turn into a suspended pumpkin at midnight on the last day .. e) Something completely original and unexpected?
|
|
|
Post by loftankerman on Nov 4, 2017 14:32:22 GMT
The supplied photos on here make me feel it looks like a mega scale version of one of my DIY projects in the early stages rather than the late one we have been hearing about. We seem to have stopped hearing about practical completion and refinance and now it is just discussions with other funders to pay off the Lendy loan. I haven't tried to sell because it has long looked like it would have either paid up or gone down the pan before I got to the front a queue anyway.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Nov 4, 2017 15:16:16 GMT
So place your bets .. will it a) Go to IA status, and accumulate some notional bonus interest .. b) Get an injection of extra interest from the borrower to keep it ticking over as IOA .. c) Invent an extra tranche, or a subordinated loan (like PBL84 did) to cover the interest for the extension .. d) Turn into a suspended pumpkin at midnight on the last day .. e) Something completely original and unexpected? With the LTGDV at 56%, there's clearly scope for a further tranche -- if it can be supported by the IMS's report. So that's what I'm expecting -- a further tranche large enough to extend the loan a bit and still provide some funds toward the continuing development. If Lendy wait long enough, they can go through the process of allowing the loan to look as if it's accruing bonus interest and then shout "Ha Ha, we fooled you!" and pull the rug out from under their investors yet again.
|
|
agent69
Member of DD Central
Posts: 5,943
Likes: 4,382
|
Post by agent69 on Nov 4, 2017 15:39:05 GMT
So place your bets .. will it a) Go to IA status, and accumulate some notional bonus interest .. b) Get an injection of extra interest from the borrower to keep it ticking over as IOA .. c) Invent an extra tranche, or a subordinated loan (like PBL84 did) to cover the interest for the extension .. d) Turn into a suspended pumpkin at midnight on the last day .. e) Something completely original and unexpected? Pumpkin, pumpkin, pumpkin, pumpkin
|
|
|
Post by loftankerman on Nov 4, 2017 16:36:24 GMT
Well, ever the optimist, I'm going with (e). It couldn't get more unexpected than the borrower finding the funds and paying up by the due date.
|
|
ped
Member of DD Central
Posts: 255
Likes: 84
|
Post by ped on Nov 5, 2017 21:37:09 GMT
True fantasy!
|
|
|
Post by spareapennyor2 on Nov 6, 2017 6:25:03 GMT
think you can add PBL120 S*Y to this , i say (B)
|
|