spiral
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Post by spiral on Apr 4, 2017 8:18:39 GMT
I was relying on this to fund Saturday's go live.
After no progress yesterday, I decided to put an amount up for sale equal to my deficit.
I was:
a) Surprised there was no queue
b) Even more surprised it sold in less than 5 minutes across 2 buyers.
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dp
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Post by dp on Apr 4, 2017 12:39:12 GMT
Paul64 do we have an update on the when PBL167 will launch?
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Post by Paul64 on Apr 4, 2017 13:40:00 GMT
Hi, it is imminent, but there are still one or two more steps that we need to undertake to complete the due diligence, which is taking slightly longer than anticipated. While I wouldn't want to put a timescale on it, I wouldn't expect it to be any longer than a couple more days.
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dp
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Post by dp on Apr 4, 2017 14:14:09 GMT
Hi, it is imminent, but there are still one or two more steps that we need to undertake to complete the due diligence, which is taking slightly longer than anticipated. While I wouldn't want to put a timescale on it, I wouldn't expect it to be any longer than a couple more days. Thanks - & useful.
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Post by solicitorious on Apr 4, 2017 15:00:11 GMT
Hi, it is imminent, but there are still one or two more steps that we need to undertake to complete the due diligence, which is taking slightly longer than anticipated. While I wouldn't want to put a timescale on it, I wouldn't expect it to be any longer than a couple more days. May seem a stupid question, but WHY don't you complete your due diligence BEFORE wasting everyone's time with irritating phantom launch notices? Other platforms can.
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Post by Paul64 on Apr 4, 2017 15:09:41 GMT
Each company has their own business model, with particular features that appeal to their customers. No company is a 'one size fits all'.
The vast majority of our 'advance go lives' are live within 24 hours. However, any thorough due diligence process will, on occasions, throw up 11th hour questions that were not identified by solicitors before, and we would always want to be 100% satisfied that all questions have been answered before a go live.
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elliotn
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Post by elliotn on Apr 4, 2017 15:15:11 GMT
This was on the pipeline for some while a couple of months back and then pulled to allow continuing legals/due diligence which should hopefully have provided enough awareness of potential 11th hour difficulties.
Thankfully some of the other Pickering popped up to absorb the funds I had sold and transferred waiting for the 12th hour on this one.
Thank you for the updates Paul, most welcome.
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Post by solicitorious on Apr 4, 2017 15:26:04 GMT
Each company has their own business model, with particular features that appeal to their customers. No company is a 'one size fits all'. The vast majority of our 'advance go lives' are live within 24 hours. However, any thorough due diligence process will, on occasions, throw up 11th hour questions that were not identified by solicitors before, and we would always want to be 100% satisfied that all questions have been answered before a go live. Doesn't answer the question, I'm afraid. Why send notices at the 10th hour, and not the 12th? And as for "vast majority" I doubt it, or I wouldn't be so irritated. I've been around longer than you have, so I ought to know. A bare majority launch on time, perhaps...
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ben
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Post by ben on Apr 4, 2017 15:36:38 GMT
I think if you just sent an email out saying we were going to release it but x has come up people would be a lot happier, its the fact you do not bother stating anything. I know your go live email states that it may not go live but it is arrogance to not send a quick email saying sorry it has not gone live.
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Post by Paul64 on Apr 4, 2017 15:38:59 GMT
As explained, it is our business model, and in most cases our customers tell us they understand that delays can sometimes happen.
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voss
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Post by voss on Apr 4, 2017 16:23:54 GMT
Typical, you wait days for a post from Paul and then three come along at once ...  |
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oldgrumpy
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Post by oldgrumpy on Apr 4, 2017 16:28:13 GMT
Typical, you wait days for a post from Paul and then three come along at once ...
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Apr 4, 2017 16:33:14 GMT
Each company has their own business model, with particular features that appeal to their customers. No company is a 'one size fits all'. The vast majority of our 'advance go lives' are live within 24 hours. However, any thorough due diligence process will, on occasions, throw up 11th hour questions that were not identified by solicitors before, and we would always want to be 100% satisfied that all questions have been answered before a go live. Oh yeah? Then please explain, in your own time, why the "Valuation Report" on the notorious C****t conveniently omitted any mention whatsoever about the various Planning Permissions situations, despite SS specifically requesting that PPs be commented on in the VR? Never even try to kid a kidder.
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Post by pepperpot on Apr 4, 2017 16:33:54 GMT
... and we would always want to be 100% satisfied that all questions have been answered before a go live. Is there any chance that the investors who are putting their funds at risk could see these questions and answers as well? (also any ongoing DD you may perform, such as MS reports on developments etc.) I suppose the Lendy T+C's ask me to do my own due diligence, so should I be contacting the borrower and their solicitors directly to get the answers I require? (Slightly tongue in cheek)
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ben
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Post by ben on Apr 4, 2017 16:42:05 GMT
As explained, it is our business model, and in most cases our customers tell us they understand that delays can sometimes happen. Delays are to be expected and they happen, personally I do not care as it makes no difference to me if a launch goes live on that day or a few days later, but as has been posted on here numerous times lots of investors do care and it smacks of arrogance to customers that you do not even bother to tell them that is delayed. Nice to see that you have fitted in well to the SS model.
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