mb
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Post by mb on Sept 17, 2016 21:14:24 GMT
I propose that the LL borrower's answer to his first question is probably the best answer I've seen from any borrower on any platform! Is it serious?!
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Post by lionelrichtea on Sept 17, 2016 22:48:09 GMT
Well, if you Google 'lottery winners' there's a newspaper article about someone having to claim their £1 million that they won in March, before the 6 month deadline is up. The winner lives in the Huntingdonshire district. A couple of LL's registered addresses are around that area. Maybe the director found a lottery ticket down the back of their couch.  |
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arbster
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Post by arbster on Sept 18, 2016 5:40:07 GMT
Nah, he said he'd won it "this weekend", posted on Saturday afternoon, so it could only possibly be the £34M won on the Euromillions on Friday evening. Given that they're currently remaining anonymous, I find it unlikely that they'd reveal their identity on LC simply to be able to come up with a glib answer to a good question. Therefore, I'd surmise that they're chancers who have decided not to raise the finance on a platform where people (or at least one person) indulge in due diligence...
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annie
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Post by annie on Sept 18, 2016 13:34:35 GMT
What a t----r, I for one will be contacting LC to get this loan removed - one reasonable question from someone who's money you want and you act like a pr-t. The worry is that we could have invested with this clown if he hadn't been stupid enough to answer the question like that. Does DD at LC not include meeting these people and taking a personal view?
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adrianc
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Post by adrianc on Sept 18, 2016 15:29:49 GMT
They've been renting 20 properties to a captive audience, with a 90% occupancy rate, for more than a decade... and they need a loan to replace some back doors and oil tanks?
<scratches head>
C+? Seems optimistic...
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Post by lionelrichtea on Sept 19, 2016 11:09:34 GMT
*poof* and the loan is gone! Maybe they really did win the lottery.
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Post by trentenders on Sept 19, 2016 12:39:52 GMT
They were renting to US servicemen from RAF Mildenhall - which is in the process of closing down (a little naughty IMO that they omitted to mention this point when claiming 100% occupancy rates, etc.). They will likely be left with empty properties at that time, with very little else going on in the town or surrounding villages (competing with 100's of other BTL landlords that are in the same boat).
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shimself
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Post by shimself on Sept 19, 2016 13:51:53 GMT
They were renting to US servicemen from RAF Mildenhall - which is in the process of closing down (a little naughty IMO that they omitted to mention this point when claiming 100% occupancy rates, etc.). They will likely be left with empty properties at that time, with very little else going on in the town or surrounding villages (competing with 100's of other BTL landlords that are in the same boat). commutable to Cambridge though
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arbster
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Post by arbster on Sept 19, 2016 15:28:19 GMT
Interesting to note that if you Google the company name you see an advert for a property on Rightmove which has been removed, but the description now contains an offer to sell the whole company. No mention there either of Mildenhall shutting down, and there's just 7 years left on the £3.8M interest-only mortgage at 1.5%.
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Post by lionelrichtea on Sept 19, 2016 15:39:58 GMT
Interesting to note that if you Google the company name you see an advert for a property on Rightmove which has been removed, but the description now contains an offer to sell the whole company. No mention there either of Mildenhall shutting down, and there's just 7 years left on the £3.8M interest-only mortgage at 1.5%. Yep, saw that yesterday but couldn't see any indication of the date it was listed. Did the loan blurb mention anything about the Section 106 agreement?
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Post by trentenders on Sept 19, 2016 18:27:46 GMT
They were renting to US servicemen from RAF Mildenhall - which is in the process of closing down (a little naughty IMO that they omitted to mention this point when claiming 100% occupancy rates, etc.). They will likely be left with empty properties at that time, with very little else going on in the town or surrounding villages (competing with 100's of other BTL landlords that are in the same boat). commutable to Cambridge though Not that it matters now, but nobody does - the roads in/out of Mildenhall are terrible so it's not a natural choice for commuters (they certainly wouldn't attract new commuters to the town). And these houses were in Beck Row, which is the wrong side of Mildenhall for the A14/A11 access.
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adrianc
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Post by adrianc on Sept 19, 2016 18:45:09 GMT
Did the loan blurb mention anything about the Section 106 agreement? The listing said that the s106 had been lifted - in 2015, IIRC - but that the occupation was still all GI Joe, because the demand was there.
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