cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
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Post by cooling_dude on Nov 7, 2016 17:57:49 GMT
MoneyThing I note the following from the loan overview (my bold) So what's the exit plan if PP is not granted?
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ptr120
Member of DD Central
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Post by ptr120 on Nov 7, 2016 19:08:14 GMT
MoneyThingI'd also like to understand if you are prepared to undertake to list all tranches within a certain period of time. I'd prefer not to invest in an earlier tranche only for this to hang around on 2nd charge security for longer than I'd like.
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Post by MoneyThing on Nov 7, 2016 19:30:42 GMT
MoneyThing I note the following from the loan overview (my bold) So what's the exit plan if PP is not granted? Evening cooling dude, They have quite a few options at play. Their planning consultant have considered any potential issues raised with regards to site density, heritage, listed building, etc. and satisfied all areas and as such feel confident that planning is highly probably. In the event that planning is not granted, they will then address concerns and appeal (there is plenty of profit margin to reduce the scheme if required). It is also worth noting that there is a new development across the road and the fact there is a smaller completed retirement apartment development to the rear, have both set precedents. If this then fails, they already have an offer to sell without the benefit of planning for a sum much greater than the value we listed and also have another interested party in play. They also have scope to apply to extend to the hotel & function room should the retirement scheme not be accepted. Kind regards, Ed
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gurberly
Member of DD Central
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Post by gurberly on Nov 7, 2016 19:32:02 GMT
MoneyThing I'd also like to understand if you are prepared to undertake to list all tranches within a certain period of time. I'd prefer not to invest in an earlier tranche only for this to hang around on 2nd charge security for longer than I'd like. Good point. A timetable for scheduled tranches would be useful, especially when the first three tranches will be second charges. Regards
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Post by MoneyThing on Nov 7, 2016 19:32:26 GMT
MoneyThing I'd also like to understand if you are prepared to undertake to list all tranches within a certain period of time. I'd prefer not to invest in an earlier tranche only for this to hang around on 2nd charge security for longer than I'd like. Evening ptr120, We intend to list these loans as fast as they are taken up, with potentially the 2nd going live on Wednesday (if lenders don't mind the shorter than normal notice period). Kind regards, Ed
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Post by MoneyThing on Nov 7, 2016 19:36:57 GMT
MoneyThing I'd also like to understand if you are prepared to undertake to list all tranches within a certain period of time. I'd prefer not to invest in an earlier tranche only for this to hang around on 2nd charge security for longer than I'd like. Good point. A timetable for scheduled tranches would be useful, especially when the first three tranches will be second charges. Regards Whilst I cannot provide a definitive timetable (as the rate is determined by the lender uptake), we do intend to complete all four tranches as quickly as possible. Regards, Ed.
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Post by eascogo on Nov 7, 2016 23:04:10 GMT
MoneyThing I note the following from the loan overview (my bold) So what's the exit plan if PP is not granted? Hi cooling_dude , The thread should best be corrected to MTAI576 otherwise some people might hunt for MTAI567. Cheers.
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stevio
Member of DD Central
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Post by stevio on Nov 8, 2016 8:17:21 GMT
Hi MoneyThing how can you be sure that the additional funds in this loan won't be used to pay back the other Prestbury residential loan? |
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Post by MoneyThing on Nov 8, 2016 8:27:17 GMT
Hi MoneyThing how can you be sure that the additional funds in this loan won't be used to pay back the other Prestbury residential loan? Morning. The first three advances are transacting directly with the 1st charge lenders solicitors to refinance their loan (as set out in the loan agreement and Deed of Priority). Regards, Ed
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zoll
Posts: 52
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Post by zoll on Nov 8, 2016 14:36:51 GMT
MoneyThing- Can you enlighten us as to why the borrower is looking to refinance ? Have there been problems with the first charge lender ?
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mikeh
Member of DD Central
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Post by mikeh on Nov 8, 2016 16:10:20 GMT
That didn't last long!
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indy
Member of DD Central
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Post by indy on Nov 8, 2016 16:11:18 GMT
9 minutes and all gone!!
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tarq
Member of DD Central
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Post by tarq on Nov 8, 2016 16:11:46 GMT
There it was - gone!
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boundah
Member of DD Central
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Post by boundah on Nov 8, 2016 16:11:51 GMT
90% gone in 5 mins. All gone in 10 mins. There's a whole lotta money waiting for a home out there.
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star dust
Member of DD Central
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Post by star dust on Nov 8, 2016 16:13:42 GMT
Think maybe a bid limit should've been put on this as I expect there will be some unhappy bunnies. Better get that 2nd tranche ready Ed - MoneyThing  . |
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