elliotn
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Post by elliotn on Sept 10, 2017 1:53:00 GMT
The original loan overview states that the borrower has an offer from another funder to refinance the MT loan, once PP has been granted. It might be helpful to know whether or not that offer is still extant. MT have told us the borrower did not continue the PP whilst the failed sale progressed.
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Post by spareapennyor2 on Sept 10, 2017 8:43:56 GMT
i can`t under stand why all the tranche`s had been issued ? when it appears only planning /drawing for PP have only been done would have thought it would have been better to issue as needed
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SteveT
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Post by SteveT on Sept 10, 2017 9:00:59 GMT
i can`t under stand why all the tranche`s had been issued ? when it appears only planning /drawing for PP have only been done would have thought it would have been better to issue as needed They are simply 4 quarters of the same property loan, which were launched and filled in quick succession because MT's float wasn't big enough to pre-fund it all in one bite. This isn't a development loan, it's a loan against the existing property and it acquired first-charge security after the 4th tranche filled, when the previous first-charge lender was repaid. Having had 2 previous loans fully repaid by this same borrower (the Piper and the house in Prestbury), I've no concerns about this one. However there seem to be a lot of nervous (possibly inexperienced) P2P lenders on MT at the moment with very itchy trigger fingers.
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Post by elephantrosie on Sept 10, 2017 12:17:09 GMT
whats pp guys? please remind me again.
someone please volunter to buy this hotel as we want to get our money back...
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bababill
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Post by bababill on Sept 10, 2017 12:20:06 GMT
Suggest go to trip advisor and read some reviews......some very good reviews of hotel and some very faulty tower reviews.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 10, 2017 12:54:35 GMT
whats pp guys? please remind me again. someone please volunter to buy this hotel as we want to get our money back... planning permission - in this case for the retirement home plan original propsed at time of loan launch
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agent69
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Post by agent69 on Sept 10, 2017 13:26:07 GMT
whats pp guys? please remind me again. someone please volunter to buy this hotel as we want to get our money back... for the retirement home plan original propsed Retirement homes? www.bbc.co.uk/news/business-41200686
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Sept 10, 2017 16:57:17 GMT
Agent69 thanks for the link. Interesting article which may just have saved me a considerable sum. S
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hazellend
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Post by hazellend on Sept 10, 2017 17:41:27 GMT
Agent69 thanks for the link. Interesting article which may just have saved me a considerable sum. S Seems to me they are looking at retirement properties bought at silly peak boom prices circa 2008, located in underperforming areas with a limited re-sale market. At the current prices they seem like good value and I'm guessing in prime areas (aka people with money) they are still popular.
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robski
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Post by robski on Sept 15, 2017 11:57:49 GMT
Update on the site
Summary "there is no update until next week"
Suspect they are waiting on some sort of decision from the borrower
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fogey
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Post by fogey on Sept 18, 2017 23:46:20 GMT
Update on the site Summary "there is no update until next week" Suspect they are waiting on some sort of decision from the borrower Well this seems to be the fundamental problem here in that making any firm decision is proving very difficult indeed. All borrowers here should provide a Mission Statement ....
" A one-sentence statement describing the reason for their loan, used to guide decisions, priorities, and actions "
Sometimes it seems that the reason is just to make a profit in the quickest and most easy way ... whatever that appears to be at any instant in time ... and of course this changes as time goes by ..
Meanwhile 1579 availability soars to a new record high of well over 100k ....
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Post by westcountry on Sept 30, 2017 11:04:03 GMT
MoneyThing, please could we have an update on this series of loans MTAI576-579? The last update on the loan pages is 14 days ago (15th Sept 17), and was that you should have an update for lenders within a week - which is now over a week ago. An update on what is happening with this loan would be most welcome if possible please.
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Post by westcountry on Oct 7, 2017 17:27:29 GMT
MoneyThing , I'm sorry to bother you again, but please would it be possible for you to update lenders with the prognosis for these MTAI loans? The last update on 30th Sept said that you were awaiting info and should be able to post an update within a couple of working days, and the last update containing actual info (rather than just promising a future update) was on the 8th Sept, 4 weeks ago! As the borrower seems to change his plans quite often, and the loans are scheduled to finish in 31 days, any information on what the future holds for these loans would be most welcome please.
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Post by moneymagnet on Oct 7, 2017 19:45:52 GMT
Does anyone know how to find the default interest rate on this group of loans? I couldn't find it in any of the documentation on the MT website.
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ali
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Post by ali on Oct 7, 2017 19:54:28 GMT
Does anyone know how to find the default interest rate on this group of loans? I couldn't find it in any of the documentation on the MT website. I would presume 18% from the text of the related MTAI582 (on the completed loans page).
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