hazellend
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Post by hazellend on Nov 13, 2017 22:09:23 GMT
I’m pretty relaxed about this one.
I expect to see it extended and our borrower to develop it.
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moist
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Post by moist on Nov 13, 2017 22:17:47 GMT
well they have pre sold all the pods....so looking likely they have to!
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GeorgeT
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Post by GeorgeT on Nov 13, 2017 22:24:33 GMT
Noting that it's currently at -23 days and the interest for extension funds have not been received, why isn't this a 'technical event of default' - such as we had with a few others where funds owed weren't paid on time?? It might suggest the borrower has cashflow problems.
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sarahcount
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Post by sarahcount on Nov 13, 2017 22:46:48 GMT
The borrower is a bit late paying up the interest but it's probably not uppermost on their minds. Just as filing accounts on time isn't something that keeps them awake at night. But from what Ly tell us things are looking good on the planning front at Cardiff and the related loan in Glasgow while it's all steam ahead at Huddersfield. One block finished and sold off with the other two coming along.
I imagine as with all Ly borrowers this one doesn't have a lot of spare money about and has to manage cashflow carefully. That's why we're getting 12%.
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greeb
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Post by greeb on Nov 14, 2017 7:30:52 GMT
I'm in sales queue was moving quite steadily but come to a dead halt in last few days
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blueninja
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Post by blueninja on Nov 14, 2017 8:48:28 GMT
Noting that it's currently at -23 days and the interest for extension funds have not been received, why isn't this a 'technical event of default' - such as we had with a few others where funds owed weren't paid on time?? It might suggest the borrower has cashflow problems. According to the Lendy update, the borrower want to extend by 3 months, but has only paid interest for 1 month so far, and Lendy are not updating the days left figure until they have received the other 2 months worth of interest. Make of that what you will.
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r1200gs
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Post by r1200gs on Nov 14, 2017 10:02:56 GMT
I'm in sales queue was moving quite steadily but come to a dead halt in last few days Yes, with me with a 10 percent sold loan part right at the front. To be honest I'm wondering why I put them on in the first place now. The security looks pretty good. Oh I remember, it was because I'm worried about Lendy, not this loan. Who in this murky P2P world we live in pays all their bills on time anyway? I suspect the funds to extent will turn up, eventually. Probably. 
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rgog
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Post by rgog on Nov 14, 2017 11:28:48 GMT
If they can "forget" to pay it for a while and so improve their cash flow, they will. From their point of view it's a win with little down side; from our point of view it is no great loss provided it is ultimately paid and not by default process, barring only the propensity to develop an ulcer in the interim  . |
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1stwaz
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Post by 1stwaz on Nov 14, 2017 18:19:02 GMT
If they can "forget" to pay it for a while and so improve their cash flow, they will. From their point of view it's a win with little down side; from our point of view it is no great loss provided it is ultimately paid and not by default process, barring only the propensity to develop an ulcer in the interim . The problem is if they "forget" to pay until after 1st December we will not receive the interest in this payment run. I do not worry over the eventual payment but I would like to know if planning consent has been granted because the original concent was only granted with the vote of the chairman. The lack of parking spaces in relation to the number of flats was the biggest concern. Increasing the number of apartments on the site can only make things worse.
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Post by ddraiggoch on Nov 16, 2017 12:11:13 GMT
www.walesonline.co.uk/news/wales-news/<link redacted> Positives is that City Council are falling over themselves to ensure more quality student accommodation is available. The M****** development is one of three that I am aware about that is within the central city area, and as this is on a brownfield site and within walking distance of three large campuses/institutions, it is ideally located If the developer however thinks that the city council are going to go against their own policy in respect of parking provision, I think they are in for a rude awaking when it comes to the submission of the detailed planning application/revision. The N*** Rd ( and which this development is off) is a major access road, and for anyone who knows the area parking is a complete 'mare. I just cannot see the plans as envisaged being accepted. As per the comments made the locals are not to happy as it stands. I cannot see a 3 months extension being enough time
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greeb
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Post by greeb on Nov 16, 2017 17:44:31 GMT
Maybe Im wrong but I dont think parking is much of a priority for student accommodation ' lots of successful projects in sheffield with next to none
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1stwaz
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Post by 1stwaz on Nov 16, 2017 22:45:28 GMT
Maybe Im wrong but I dont think parking is much of a priority for student accommodation ' lots of successful projects in sheffield with next to none Just to clarify, it was not a problem of parking for students but the residents objection to the original planning permission. It was almost refused, it only went through on the vote of the chairman. The increase in the number of flats means that the parking "problem" can only compounded. I am hopeful it will go through but it would be foolish to think it will be on the nod.
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hazellend
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Post by hazellend on Nov 16, 2017 23:11:46 GMT
Maybe Im wrong but I dont think parking is much of a priority for student accommodation ' lots of successful projects in sheffield with next to none Just to clarify, it was not a problem of parking for students but the residents objection to the original planning permission. It was almost refused, it only went through on the vote of the chairman. The increase in the number of flats means that the parking "problem" can only compounded. I am hopeful it will go through but it would be foolish to think it will be on the nod. I think it was the local council who were encouraging the additional units. It will probably be approved, but if not then can just develop the original application.
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rgog
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Post by rgog on Nov 24, 2017 14:10:21 GMT
As the time is still set at -33 days I presume the outstanding interest extension funds have still not been received?
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1stwaz
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Post by 1stwaz on Nov 24, 2017 17:44:04 GMT
As the time is still set at -33 days I presume the outstanding interest extension funds have still not been received? I am hoping that the update is right that the second months interest has been received and that the system will be updated to show the correct position but hell this is Lendy!
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