sam i am
Member of DD Central
Posts: 697 
Likes: 555
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Post by sam i am on Jul 25, 2016 23:15:24 GMT
... is too much brandy.  Edit: I keep loosing your quote. What you said was 'The most impotent thing for us investors...' But it seems to have got to me too!
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Post by moonshine on Jul 25, 2016 23:21:47 GMT
... is too much brandy. Edit: I keep loosing your quote. What you said was 'The most impotent thing for us investors...' But it seems to have got to me too! Let's just hope the security doesn't turn out to be impotent.
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Post by harvey on Jul 25, 2016 23:25:27 GMT
If it does we could always try posting Viagra pills through the letterbox but I have to say I don't know if that would raise our prospects of a successful outcome.
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sam i am
Member of DD Central
Posts: 697
Likes: 555
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Post by sam i am on Jul 25, 2016 23:40:43 GMT
I have to resort to paraphrasing the old joke...
If the loan defaults we could sue for our money. But our evidence might not stand up in court.
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Post by moonshine on Jul 25, 2016 23:57:55 GMT
Yep, we'd get stiffed
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Post by p2plender on Jul 26, 2016 6:08:48 GMT
I'll be avoiding this one as well. I'm actually more interested in SS showing an ability to get some of these repayments back as well as clearing the sm.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jul 26, 2016 6:57:57 GMT
... is too much brandy. Edit: I keep loosing your quote. What you said was 'The most impotent thing for us investors...' But it seems to have got to me too!  ....  .... Spelling mistake terminated....
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Post by trilby on Jul 26, 2016 9:27:38 GMT
It's gone live, 100% allocation and £88k on the SM.
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Post by geraldine1210 on Jul 26, 2016 9:35:13 GMT
It's gone live, 100% allocation and £88k on the SM. X Pretty much as expected. I didn't take any and won't go near it in the sm.
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ben
Posts: 2,020
Likes: 589
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Post by ben on Jul 26, 2016 9:51:02 GMT
It's gone live, 100% allocation and £88k on the SM. Skipped this one out to.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Jul 26, 2016 10:12:57 GMT
I don't get the plan here. The property is totally complete and refined. So that's the end valuation for me. The market is not going to go up anytime soon (at best will stay stable), so how would this lady pay the fees for bridging finance? Is she really hopying to resell at short time distance with a profit (for having done what?). I don't see this being a market where you can buy, wait and hope to resell higher... so I am out of this. I see much much more value in some older loans (even on the SM now) I think she just thinks it be nice to have a large portfolio of property which I am sure we all would, however the logic of this escapes me. Even if she was renting it out once brought I doubt that would even cover the fees/interest to SS. There is no work to be done and she is not getting a bargin so unlikely be any significant growth in property prices, especially not to keep up with the amount SS charge. If she pays £2.2 million like the valuation reports says she must be mad paying that much more then the property is worth. If she pays £2.2 million she must have a £1 million in change hanging around she be far better of finding a property for that amount and having no mortage/loan to pay. The valuer viewed the property on Referendum day and wrote the report on 27th June when the shock of Brexit was very fresh in the mind. I suspect the valuer provided a very cautious valuation, that could easily explain the variation from the purchase price.
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mack
Posts: 85
Likes: 90
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Post by mack on Jul 26, 2016 10:32:26 GMT
Personally I think it is one of the better ones recently.
Relatively easy to sell on if issues with borrower and likelihood of loss low. Defaults are to be expected in bridging loans, the quality of the asset is the most important thing and this looks fine with a first charge.
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sam i am
Member of DD Central
Posts: 697
Likes: 555
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Post by sam i am on Jul 26, 2016 10:41:47 GMT
I picked up some on the SM when I saw it had nearly gone. IMO asset OK, not sure about borrower with the limited info available.
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Post by retired2005 on Jul 26, 2016 11:20:58 GMT
Alll gone now....... (well, bar 48pence)
EDIT : the pennies have gone as well now!!!!
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Post by swissbankers on Jul 26, 2016 12:13:16 GMT
It suddenly went after 2 big investors took 50k and 10k
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